The coronavirus has wreaked havoc for startups around the world, with unprecedented employee layoffs and steep declines in startup financing. Global lockdowns are disrupting industries and altering consumer behaviour, with many of these changes likely to persist beyond the current crisis.

Singapore’s startups have responded strongly to the crisis, with several medtech startups rising to the occasion to rapidly iterate, manufacture, and scale solutions to fight the global war against COVID-19.

With Singapore being the deep tech hub of Asia, six founders of Singapore-based deep tech startups share how they are responding to the crisis, and what startups in various industries can do to position themselves for success in a post-coronavirus world.

The ultimate test

For B2B startups focused on corporate or industrial digitalisation, the coronavirus is the ultimate test to prove their solution’s effectiveness in complex real-time scenarios.

This is a window of opportunity for startups, as companies across the world are eager to embrace solutions that can minimise business disruption, improve business resilience, and bolster market leadership.

Also Read: Life after COVID-19: How and why smart cities need to focus on sustainability

With governments encouraging workers to telecommute where possible, Partha Ray, founder, and CEO of Industry 4.0 startup dDriven, has been hard at work helping his Fortune 500 process manufacturing customers retain remote monitoring and control of their operations. They do it by creating live digital twins, in order to mitigate potential supply chain risks. “We want to do our part to offer our solutions at a highly discounted price point to industries that are severely hit by this crisis,” he adds.

Similarly, the shift to remote corporate workplaces and fast-evolving regulatory developments arising from COVID-19 has given regtech firm RADICALi an extreme-scenario case to demonstrate the effectiveness of their virtual workflow and collaboration tools for compliance professionals. Hardesh Singh, CEO and co-founder, mentions that “adopting smart compliance solutions can enable companies to easily track and act on regulations, to deliver much-needed business certainty during this time.”

Pivoting to new sectors

Industry disruptions are forcing startups to rethink their business strategy and adapt quickly for survival. For startups that are pivoting to areas that are experiencing a growth surge, business diversification through entering new sectors can yield high returns.

The hospitality industry has been hard hit by COVID-19, and even non-human ‘employees’ are on the chopping block. “We have many robots working in service and hospitality, which have been off-boarded in favour of maintaining human staff,” says Michael Sayre, CEO of Cognicept.

Nonetheless, opportunities have surfaced in other areas for his robotic intervention and teleoperation products, which enable the fast deployment of robots in dynamic and unpredictable environments. “We have received numerous enquiries about supporting UV disinfection robots, cleaning robots, and delivery robots in quarantine zones,” he added. The startup is currently deploying its solution to assist several international firms who are involved in these areas.

Also Read: In brief: Temasek reportedly in talks to invest US$100M in Zomato; SGInnovate launches ‘Deep Tech for Good’

Telemedicine in the spotlight

Experts predict that radical changes in healthcare resulting from COVID-19 will finally break down the regulatory and psychological barriers that have impeded the widespread adoption of telemedicine. With physical resources strained and hospitals telling patients to stay away unless necessary, the healthcare industry has a strong urgency to implement remote diagnostic and care solutions.

For TeleMedC CEO Para Segaram, the crisis has reinforced his belief in using telemedicine to solve healthcare problems. TeleMedC, which provides AI-powered diagnostic solutions for point-of-care screening and virtual management of eye diseases, is seizing this opportunity to change people’s thoughts on digital preventive healthcare.

The startup has received interest from clinicians in Singapore, Australia, and the US about implementing their solution in the near future.

Mitigating coronavirus risk also is a key concern for Biorithm, which has developed a wearable device that enables continuous and automated monitoring of fetal and maternal heart rates. According to CEO Amrish Nair, clinicians seeking to reduce patient loads in hospitals are starting to embrace telehealth and its benefits, which may spark a healthcare revolution in the near-term.

“Pregnant women have always been classified as a vulnerable group and it is important to ensure they have continued access to care. Our solution allows clinicians to continue monitoring fetal health at the desired frequency while keeping expecting mothers out of the hospital. We are offering a ‘lite’ version of our solution for free to public healthcare providers during this time,” he says.

Also Read: How startups can adapt to a reopening economy

Staying home but thinking global

For some startups, the coronavirus has created a renewed urgency to look for new pastures abroad, despite added complexities due to international travel restrictions.

Just before the coronavirus hit, Philipp von Pein, Co-founder and CEO of Attonics Systems, was gearing up to expand his spectrometry startup to Germany and establish a European head office. Now, with a drop in demand from his existing customers, he is going virtual to connect with prospective investors and customers in Europe.

“We joined the Scaler8 market expansion programme in March, which has been immensely helpful in helping us gain industry insights and connecting us to corporations in Germany to pitch our products in virtual meetings,” says von Pein.

With a small domestic market, the Singapore government has enhanced support schemes for startups to enter high-potential overseas markets and promote their innovations on a global level. Singapore firms can tap on the Startup SG Equity scheme and Market Readiness Assistance Grant, as well as participate in market expansion programmes conducted by Enterprise Singapore’s Global Innovation Alliance network, such as Scaler8.

In these uncertain times, the courage and foresight to think global and seize new opportunities can help businesses better position themselves to bounce back and grow fast during the eventual economic recovery.

A whole new world

One thing is undeniable – it will be a different world after the coronavirus. A decade ago, the 2008 – 2009 financial crisis provided fertile ground for the emergence of a generation of unicorn companies. Similarly, the current COVID-19 pandemic presents a unique opportunity for startups to demonstrate the benefits of disruptive technologies.

Hence, beyond ensuring their startup’s survival, founders need to think big and start taking a leading role to drive global industry transformation now and beyond.

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Healthcare industry across the world has faced enormous setbacks in the past few months when the novel coronavirus affected a million lives in the most fatal manner.

The industry was all set to conquer the world when an unknown disease put public as well as private health sector companies in a difficult situation.

As social distancing becomes the new normal, here’s how the healthcare and technology could change in a post-pandemic world.

Telemedicine

It is a comprehensive term for giving remote medicinal services exchange between the patients and the doctors. Data and communication, involving internet technology, are utilized for recording patient’s history, past or ongoing clinical diagnosis or treatment, and reviewing the reports.

Telemedicine-empowered machines convert the patient’s location into a fully equipped clinic. The prognosis is communicated to the patient via internet alongside consult and a prescription, meaning geography will not prevent them from having access to medicine.

Medical experts report how patients are gradually taking interest in telemedicine services. While it is still believed that telehealth industry may be an obstruction when it comes to the doctor-patient relationship, the current situation has demonstrated that it really improves this relationship instead, with high degrees of fulfillment, particularly as it gives patients quick and consistent access to their confided in the clinician.

In a world after the pandemic where social distancing must be strictly followed, telemedicine can prove to helpful. We are looking at a future in which allied services such as nutrition consult, physiotherapy, psychology, etc. will move from clinics to at-home facilities.

Also Read: Why Singapore is ASEAN’s sandbox for innovation in healthtech

Telemedicine increase doctors’ capacity for providing health care, even to remotely situated patients. It will also ensure better productivity on their part as they will be able to treat more patients virtually than they could otherwise. Countries, including India, are taking interest in this sphere and what is now the need of the hour could become a new typical order of the future.

Wearable Technology

Researches have claimed that data from a wearable gadget can detect coronavirus side effects days before you even acknowledge you’ve been infected. That simply changes the purpose of fitness trackers from counting steps and calories to detecting viruses.

The reports suggest that Fitbits and Apple Watches may end up being a viable early-detection framework and they could help revive work and home environments — and advance from customer tech oddities into health essentials. This will empower patients as with the help of technology and wearable devices, they will be aware of their health and hygiene.

As these organisations develop prototypes that are increasingly inspired by healthcare, wearables of the future could come with more sensors. For example, Fitbits now gather heart information while an Apple Watch application can recognise atrial fibrillation and both Apple and Google, are also planning to set up contact tracing technology for wearables which could make the detection process smooth.

Artificial Intelligence>

Healthcare is another such industry that is witnessing super-fast changes with the introduction of AI. In a worldwide exertion to make healthcare progressively comprehensive with expansive advantages, while making it more financially savvy, accurate and fast, the industry is utilizing the most recent AI innovations as a key to foster development.

Computing, networking, and security automation are driving constant and unprecedented growth of AI’s role in healthcare sector.

Also Read: News Roundup: E-commerce apps are beginning to recover from global health crisis

It is because of the advent of artificial intelligence and its influence on the healthcare that home diagnostics and at-home care is possible today.

Patients can capture their health data through at-home diagnostic devices, combined with home servicing of lab tests which help them track their conditions, share it with their doctors remotely, and get a consultation. Artificial Intelligence has been able to guide patients and help doctors with accurate and fast clinical support.

Telecommunication in the field of health care is going to increase as people get used to ‘quarantine’. The quantity of telehealth consults has risen exponentially during this pandemic and it will increase manifolds once it’s over.

During this time, with a rise in patient queries and a lack of one-to-one contact with doctors, AI-fuelled customer assistance can be utilised as the front line of correspondence. Dissimilar to old IVR’s, AI-empowered client care will comprehend the patient’s needs, and chatbots could make the transition easier.

Robotic Technology

Research labs and companies are making robots, including one intended to let health care workers remotely take blood tests and perform mouth swabs. These robots could have a significant effect in the future debacles as more countries are taking an interest in technology.

Robots are helping first responders in many ways, such as:

In emergency clinics, specialists and medical attendants, relatives, and even receptionists are utilising robots to communicate with patients while standing in a permissible range of contact.

Also Read: These 4 medtech startups will help you bust health myths during COVID-19 crisis

They are cleaning rooms and delivering medicines, taking care of the charts, and other additional work. They are even shipping samples (of infected patients) to research centres for testing.

In public, public health care providers are utilising robots to splash disinfectants in open spaces. Drones are giving thermal imagery to help recognise contaminated residents and implement isolation techniques and social distancing norms. Robots are also helping in broadcasting health awareness messages and helping people learn about infection and social distancing.

Open surveillance for contact tracing

COVID-19 won’t be the world’s last pandemic, so this conceivable not so distant future situation could only be the beginning. There is a wide assortment of advanced innovations turning out far and wide to help check the spread of the novel coronavirus. Contact tracing, specifically, helps in surveillance and study of the distribution and patterns of diseases in a confined area, which makes it an area of interest & investments for the government.

It is how health professionals can identify the primary bearer of the virus followed by people he/she may have infected, to disengage those in danger, and stop the virus from spreading. It’s a reliable examination technique that has been used to effectively battle several diseases including measles, HIV, and Ebola.

Nations around the globe and now is being used to contain the coronavirus. Simultaneously, organisations such as Apple and Google are building frameworks to help grow and automate the contact tracing and tell users who may have become possibly infected.

Contact tracing is a three-step process involving test, trace, and isolate. While testing is irrefutably the top priority, it is also important for health professionals to discover the individuals who have been infected.

Contact tracing is indispensable for preventing a fatal disease from spreading fast. When the infected patients have been distinguished, the doctors can put those individuals in an isolation center before they spread the virus further.

Also Read: Holmusk closes US$21.5M Series A to build real-world evidence platform for mental health

Programmers are working strenuously to manufacture applications, services, and frameworks for a reliable contact tracing: recognising and telling every one of the individuals who have met an infection bearer. Some of them have been proven to be brief, while others are invasive.

Since this is the means by which innovation can help set up a new world order for another pandemic, administering bodies are required to take control and set up guidelines for ethical contact tracing.

Science has been proven to make significant discoveries when it comes to diseases, by seeing how it works, and finding better approaches to stop it. Doubtlessly the coronavirus pandemic will likewise require a reconsidering of needs and reorientation of methodologies as social distancing becomes inevitable.

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We have all been out of pocket before for offering to front the cost of a restaurant bill, only receiving half the money back via bank transfer in the coming days with many friends ‘forgetting’ to pay for their share of the bill.

Though account-to-account payments have been around for quite some time, there is still a long way to go in terms of payment innovations for them to be entirely convenient.

The payment method is making its presence felt with endless practical uses, like paying a babysitter or sending money to kids away at university. Account-to-account payments also help provide additional cost savings benefits to Singapore merchants by helping to reduce the cost of payment processing.

According to findings from the newly released Worldpay from FIS 2020 Global Payments Report, account-to-account payments are the third most common payment method in Singapore, making up 10 per cent of all online payments.

When it comes to shopping online, account-to-account payments are also more popular than payments by debit cards (eight per cent) and closely followed by charge and deferred debit cards (six per cent). This is only set to increase as Singapore, an earlier adopter of Open Banking and APIs, continues to push banks to embrace Open Banking.

Also Read: Why Indonesia is the hottest payments apps battleground in Southeast Asia

Open Banking will make account-to-account payments even more frictionless by providing a way for consumers to authorise payments from a bank account without having to supply their bank account details, all while still helping meet the desired need for security. Many consumers view account-to-account payments as balancing their need for security and their desire for convenience.

Singapore introduced its first Open Banking app in 2017 – NETSPay. The app, created by DBS, POSB, OCBC and UOB, allows users to easily split bills with friends by sending money via a mobile number or QR code.

Other countries in Asia have followed suit, with HSBC introducing PayMe which has enabled 1.9 million people in Hong Kong to pay anyone with just a few taps on their phone.

Account-to-account technologies are on the rise on a global scale too, from Alipay and WeChat in China to Spain’s Bizum, France’s Lydia, Mercado Pago in Argentina or UK-based Neteller. Elsewhere, Apple Cash allows transfers between any two Apple users in the US via an iPhone, iPad, and Apple Watch.

Similarly, PayPal has a solid base as a digital wallet with broad acceptance at online retailers. Google Pay introduced P2P payments to the US market in 2018 and to India in 2019. And India welcomed a wave of new peer-to-peer services in 2019, including Paytm, WhatsApp Pay, and Amazon Pay. Clearly, P2P payment functionality is emerging as a core functionality for the mobile wallets consumers prefer.

As cross border commerce continues to grow, the rise of account-to-account payments shows that real-time payments can provide new pathways for us to pay. While this does bring data privacy issues to the fore, countries worldwide are recognising the need for clear standards and regulations surrounding payment data and customer information.

Also Read: Indonesian digital payments platforms OVO, Dana reportedly agreed to merger

In the same way global regulatory trends continue to advance the protection of data privacy, other initiatives such as open banking could provide the additional momentum that takes account-to-account payment innovations mainstream.

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Transcelestial Technologies, a last-mile internet connectivity startup based out of Singapore, has secured a US$9.6M in Series A round of investment, co-led by EDBI and Wavemaker Partners.

Also joined the round are Airbus Ventures, the VC arm of Airbus; Cap Vista, the strategic investment arm of the Defence Science and Technology Agency of Singapore; Partech; and Tekton Ventures.

Existing investors, including Entrepreneur First, SEEDS Capital, Charles Songhurst (Microsoft’s former Head of Corporate Strategy), and Ajay Shah (who runs technology programmes at a senior level in Standard Chartered Bank), also co-invested.

Also Read: Behind the creative minds of “Circles.Life’s” cheeky content

Founded in December 2016, Transcelestial is building what it claims to be a space laser network to “deliver a step-change in internet connectivity globally”.

The startup has developed Centauri, a mass-produced network device that leverages its proprietary Wireless Laser Communication Technology to create a wireless distribution network between buildings, traditional cell towers, street-level poles and other physical infrastructure.

It is the size of a shoe-box weighing less than 3kg and is capable of delivering fibre-like speeds to customers. It is a rapidly-deployable, low-cost and high-speed solution, which can be used in dense residential areas that require bandwidth upgrades.

Two versions of the device are available — 1 Gbps Full Duplex (4G & Enterprise ready) and 10 Gbps Full Duplex (5G-ready).

“With the Series A capital raise, we are now working actively to get Centauri in the hands of customers globally within the next 12 months. In order to deliver on this global promise, we have set up a manufacturing capability which will scale into the world’s largest for production of CENTAURI class Wireless Fibre Optics devices,” said Dr. Mohammad Danesh, CTO and Co-founder of Transcelestial.

“This will bring our groundbreaking proprietary technology of real time optical alignment and weather compensation to within a commercial price point,” he added.

In 2018, Transcelestial raised US$1.8 million in seed funding.

The startup’s other investors include Entrepreneur First, 500 Startups, AirTree Ventures, SGInnovate, SparkLabs Global Ventures, Michael Seibel (CEO of Y-Combinator), Charles Songhurst (Microsoft’s former Head of Corporate Strategy), Josh Manchester(Champion Hill Labs).

With the sudden advent of the COVID-19 pandemic, the importance of last-mile connectivity to our homes, offices and cell towers (which in turn bring data to your phones) has become critical. Almost every country has seen a 35-45 per cent rise in internet usage.

Also Read: Taihecap Managing Partner on what SEA startups can learn from China and how to tide through COVID-19

“As the front runner in laser communications technology, Transcelestial’s Centauri platform will help catalyse the adoption of 5G communications, a key enabler for the next wave of growth in the digital economy, including areas such as smart cities, industry 4.0 and urban mobility,” said Chu Swee Yeok, CEO and President of EDBI.”

“As our first investment in Singapore, we’re pleased to have such a marquee company as Transcelestial to help us widen our presence in the region, and we look forward to opening our new offices in Singapore in close partnership with the outstanding co-investors Transcelestial has attracted,”said Thomas d’Halluin, Managing Partner of Airbus Ventures.

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Image Credit: Transcelestial

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dltledgers, a blockchain-powered cross-border trade digitisation startup based out of Singapore, is in advanced talks to raise US$9 million in Series A round of investment, its Founder and CEO Samir Neji told e27.

The startup is already “very close” to securing US$5 million and aims to wind up the round by August.

Neji, however, declined to share the details of the investors.

dltledgers had previously raised US$2.5 million in pre-Series A round from global VC firm Walden International in July last year.

Also Read: Singapore’s Transcelestial raises US$9.6M Series A to ‘deliver a step-change in internet connectivity globally’

“We’re very close to raising US$5 million but we’re aiming for US$9 million. While I can’t disclose who the investors are at this point, I can say there are two and they are well-known,” he said. “We’re certain we’ll be able to close by August. But we’re going to keep the round open till September.”

dltledgers will use the capital to be raised to grow its ecosystem of network participants and scale up its sales and marketing teams. Another important and immediate aspect is growing out footprint internationally, particularly North America.

“We’ve already set up offices in India, the UAE, Japan, Australia and New Zealand in the last few months. But since we’ve already set up trade flows and platform users in North America, it’s on our vision board for the immediate future. Product engineering and tech innovation are important,” Neji explained.

dltledgers was founded in 2017 by Neji, a serial technopreneur who has lead four businesses in his career. The concept was born out of his enthusiasm to disrupt global cross-border trade digitisation.

Plug-and-play platform

In a nutshell, dltledgers is a plug-and-play blockchain platform with a focus on “significantly reducing” lead times/delays in cross-border trade/supply chain transactions and increasing operational efficiency, while reducing the overall costs of financing for buyers and sellers.

The startup achieves this through end-to-end digitisation of global supply chain workflows for its clients and their partners, therefore reducing the reliance on paper, phone and e-mail.

In addition to this, it has also created a digital marketplace for clients to negotiate interest rates and financing terms with banks in a secure manner, allowing them to lower their costs of financing by choosing the trade financing solutions which work best for them.

Since 2018, the company claims to have executed more than US$3 billion-worth of physical trade transactions on its platform involving 400-plus traders and 45-plus banks and tertiary partners.

Nearly 4,500 organisations are now collaborating on the dltledgers platform, including traders and producers, banks, logistics providers, inspectors, agents, and more.

“Our platform mainly targets global trading houses and large manufacturers involved in cross-border trade. Furthermore, we offer inter-enterprise workflow digitisation to multiple unconnected parties in any global supply chain to collaborate on a single digital platform,” Neji claimed.

Also Read: Taihecap Managing Partner on what SEA startups can learn from China and how to tide through COVID-19

“In a more niche segment, we also target small/medium enterprises who may need to track provenance in their private trade flows. Along with our target segment, we also establish partnerships with banks/financial institutions to support the financing/security of trade transactions,” he noted.

The firm’s customers include Mitsui, Agrocorp International, Shiseido, Wilmar, Wipro Unza, IFFCO and ANZ Bank.

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Image Credit: dltledgers

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Indonesia has seen a number of leading startup figures making a move to the public sector, but the public finds themselves anxiously waiting for the next big innovation to reveal itself. The high expectation is understandable, but the public sector is a tricky path to navigate, after all.

When Nadiem Makarim resigned from his widely celebrated position of gojek CEO to answer “the call of duty” to become the Minister of Education and Culture of the country, his decision was quickly followed with both scoffs and support. While it remains unfair to criticise an individual’s performance before their first day of work, we must remind you that Makarim’s background was in business and technology –nothing in his CV says culture or education.

But his appointment had sent out a loud and clear message of what President Joko Widodo (Jokowi) is trying to achieve: Makarim’s appointment was meant to bridge between the government and the younger part of the nation.

Scandal-infested

Jokowi went one step further with the appointment of the unprecedented presidential special staff, consisting of seven young people with tech and startup background. These experts were to give the President innovative ideas in regard to the country’s development in various fields, as reported by The Jakarta Post.

They were Ruangguru CEO and founder Adamas Belva Syah Devara, Amartha Fintech founder Andi Taufan Garuda Putra, and Creativeprenuer CEO Putri Tanjung.

Other expert staff members include SabangMerauke co-founder Ayu Kartika Dewi, Kitong Bisa CEO Gracia Billy Mambrasar, and social entrepreneur Angkie Yudistia and former Indonesian Islamic Students Movement (PMII) chairman Aminuddin Maruf.

Also Read: [Updated] Breaking: Nadiem Makarim named Minister of Education and Culture of Indonesia

At first, the idea seemed exciting. But soon, things started to turn suspicious.

Andi Taufan Garuda Putra of Amartha was being slammed for asking district heads across Indonesia to support a COVID-19 relief programme led by his company. Even worse, his request was written in a letter bearing the Cabinet Secretary’s letterhead.

This move was seen as a conflict of interest, especially since the presidential special staffs do not have the authority to appoint a company for COVID-19 mitigation efforts. It blew up in social media and quickly went viral for all the wrong reasons. Putra had to resign 10 days later.

Ruangguru CEO Adamas Belva Syah Devara was next to be grilled by the public. His edutech company had become one of the appointees for the Pre-Employment card for 2.8 million unemployed citizens. Every person’s eligible will receive US$69 in courses selected by the government, one of them being Skill Academy by Ruangguru.

However, Belva soon claimed that the appointment was done before him becoming a presidential special staff, indicating that there was no foul play involved in the process.

Nadiem Makarim himself has been behind a few controversial decisions himself. The most recent one is on the new students enrollment policy for Jakarta area (PPDB).

Also Read: Nadiem Makarim of gojek’s fame crosses to politics, these are what the startup ecosystem has to say

Indonesia’s Child Protection Commissioner (KPAI) reportedly received 15 complaints related to Makarim’s policy for students’ eligibility to move to the next level in school. The complaints mainly are about technical issues due to the virtual application system.

“Many parents are concerned about the age requirement that is one of the PPDB’s selection indicator for the Jakarta area, as well as the policy regarding the achievement path as other selection’s requirements. The latter one is not in line with the previous year’s policy about PPDB,” said lawmaker Syaiful Huda.

“Another requirement being frown upon is the residency requirement with at least one year of residency in certain areas, which further frustrate parents who just want their kids to be able to enrol for the fresh semester coming this month,” he continued.

Before entering the lion’s den

So if you are a startup founder with political ambition, what should you do then? Should you even proceed with this goal?

e27 spoke to one of the prominent names in the Indonesian startup scene to dig his insight. Asking to remain anonymous, in addition to his experience in the tech sector, our source has some familiarity with the Indonesian public sector.

“I think the last cabinet featured so many tech-experienced people because it has to do with the country’s openness towards the digital era. It is to give the right signal to investors that Indonesia embraces digital technology and young talents, although it also has other angles that are more politically inclined to it,” he said.

In the case of such a prolific force in the startup scene such as Nadiem Makarim, his position certainly can bring big benefits for both for Indonesian young talents and the tech ecosystem itself.

“But that is only if he’s successful. I think there will be an inflow of more foreign investment because they see more ‘certainty’ on the government regulations side, with Nadiem being in the cabinet,” our source said.

A recent report by The Straits Times emerged that President Jokowi’s growing frustration with how his cabinet handles the COVID-19 pandemic might soon trigger a reshuffle.

If Makarim, along with other ministers, does not keep up with the expectation, his political career might be short-lived.

Tech founders may know a thing or two about how to navigate the ups-and-downs of the tech market, but it’s clear that politics require a lot of different strategies. One does not simply answer the country’s calling.

“It is better to do a ‘pull’ than ‘push’ move because politics are ruthless and invisible. Without real purpose and passion, tech people can feel easily frustrated there,” our source added his insight.

In the end, we can all just wait and see.

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Qashier to use US$860K funding for SEA expansion

Qashier, a Singapore based startup providing smart point-of-sale solutions for merchants, has raised US$860,000 in funding.

Local investor Cocoon Capital led the round, which also saw participation from Hardware Club, a US-based VC firm.

Qashier says that it will use the funding for expansion across Southeast Asia, hiring, and product development. Its goal is to build an omnichannel commerce platform to power SMEs.

“The current pandemic has pushed businesses of all sizes to embrace technology to increase margins and stay resilient. Yet, many SMEs have been left behind due to the high cost and complexity of adopting new technology. Qashier is providing the tools used by large corporations to SMEs at a fraction of the cost, empowering them to succeed in today’s competitive economy,” said Christopher Choo, Founder of Qashier.

SMU debuts 19 startups accepted into its incubation programme

Business Innovations Generator (BIG), the incubator managed by the Institute of Innovation and Entrepreneurship (IIE) of the Singapore Management University (SMU), has announced that 19 new startups accepted into the second cohort.

The goal of the 4-month equity-free programme is to support early-stage startups and student founders by providing them with the opportunity to validate their business plan and gain access to industry experts, and grant opportunities early on.

Here are the startups –

Atsell: E-commerce enabler that helps merchants and brands boost their online sales

Beauty Undercover: Matches customers with salons by providing them with information to make better beauty/salon decisions.

Captive Interactive Live: E-commerce (EC) live streaming integrated service platform for brands who want to grow their visibility

Feige: A digital identity and credit line marketplace for gig workers and freelancers

Fluidlytix: A solution for commercial organisations to help reduce water bills and consumption by 30 per cent

Ion Mobility: Electric motorcycle company

Kalpha: p2p mobile platform where individuals can connect and meet up to share any skills, knowledge and experiences on a 1-to-1 basis.

Also Read: SMU-MSc in Innovation programme – where innovation meets pedagogy

Mantheos: Provides businesses with clean and structured data solutions to help them make better decision

ORBIT -animal: Helps monitor animal health as well as educate caretakers on how to better manage their pet’s health.

Paladium: Uses Machine Learning to help B2C match products and promotions to relevant potential customers

Pogmothoine PGM: Online shop and platform for vintage-lovers

QuikChef: Converts individual F&B’s store items into a vacuum-packed chilled product for effective storage

Ridr: An all in one online parcel/food delivery search engine that comprises data from food services companies, SMEs, and online sellers.

Sealed: A B2B learning company that connects organisations with expert insights to plug knowledge gaps, serving investment
funds, management consultants and corporations.

Sekoni Original: Tech-enabled watches that can be customised for everyday life while retaining fashion appeal

Twimbit: A knowledge firm which provides information and advisory to individuals and companies

Unistop Tech: Provides an automation vending store system that is based on robotic technology

Version22: Helps companies get started with their digital transformation journey by automating repetitive, mundane
and inefficient business processes through software

Vita: A platform that allows retrenched workers to prove their resume claims through ex-employer feedback

India’s Reliance Jio receives US$253M investment from Intel

American multinational corporation and technology company Intel has announced an investment of US$253 million into India’s telecom giant Reliance Jio, according to LiveMint.

This mark’s Jio’s eleventh investment up till now in just about two months.

Jio Platforms is a wholly-owned subsidiary of Reliance Industries and currently claims to have more than 388 million subscribers.

Mukesh Ambani, MD of Jio, said that the investment will help realise its Digital India Mission, empower all sectors of the economy, and improve the quality of life of 1.3 billion Indians.

Indian mobile apps experience boost after the country announces ban on 59 Chinese apps

Many Indian mobile apps have experienced a surge in downloads after the country’s Prime Minister announced a ban on 59 Chinese apps, citing security threats.

Many startups are now identifying the opportunity and launching their own new short-video app to fill the void of the popular Chinese app TikTok like ShareChat, Mitron etc.

Also Read: Singapore’s Transcelestial raises US$9.6M Series A to deliver a step-change in internet connectivity globally

“This ban gives a unique opportunity to Indian technology entrepreneurs to build and own some of the most highly used internet products,” said Aprameya Radhakrishna, founder of Vokal to The EconomicTimes.

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Image Credit: Qashier, Unsplash, SMU

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In physics, inertia is defined as an object’s resistance to a change in velocity. Humans and businesses alike tend to resist change until they come up against an unstoppable force such as a really big object, a great stimulus, or, more recently, the COVID-19 pandemic. 

Many F&B establishments—especially the most traditional ones, like street hawkers—are still wary of digital tools and platforms. But at a panel discussion at Lit Discovery, a recent virtual career symposium organised by Young NTUC, Fave Singapore’s managing director Ng Aik-Phong shared that COVID-19 has made it impossible for F&B joints to remain completely traditional. 

“COVID-19 has brought this wave of digitisation that’s going to continue no matter which industry you’re in,” he said. “People are staying home—they’re not going to stores or dining in. The pain of the pandemic is forcing F&B establishments to digitalise out of necessity.”

He suspects that even after the pandemic, it’s not going to fully go back to how it was. 

At this panel discussion, Aik-Phong and three F&B industry veterans shared their thoughts on how to overcome six of the most common roadblocks F&B businesses face when digitalising:

• Gilberto Geata, Director, Southeast Asia, Google Customer Solutions
• Douglas Ng, Founder, Fishball Story
• Eddie Seetoh, Director and 3rd Generation Owner, 9s Seafood

Also Read: In brief: SINO Hua-An invests US$7M to transform its F&B biz into a tech firm

Fearing digitalisation for being “too complex”

Digitalisation is the use of any digital tool —such as WhatsApp or Google Forms— to change a pre-existing traditional function. But that doesn’t mean that it has to be a head-to-toe revolution.

“I would encourage SMEs to simply think about what they’ve been doing traditionally, and consider how that could be done online,” advised Gilberto Geata, Southeast Asia’s Director for Google Customer Solutions. 

When COVID-19 broke out, for example, Fishball Story’s Douglas Ng had to find a quick solution for meal delivery. When some private-hire drivers offered to help deliver the orders, he immediately invited them to his shop and held a meeting.

“We weren’t quick enough to get on board different delivery platforms. So we had to develop our own system,” he recalled. “We immediately structured the delivery fees and decided to use WhatsApp to coordinate and accept orders. Maybe it’s a caveman method compared to joining a food delivery platform —but it’s simple enough, and works for me.” 

Even simple, everyday tools such as WhatsApp and Google Forms can help F&B businesses streamline existing processes. 

Also Read: Healthy online-to-offline F&B chain Greenly raises seed funding led by East Ventures

Not being active on social media

Fishball Story has been building its social media customer base for years. During this period, the hawker stall was able to take advantage of its social media platforms to increase awareness and inform customers about their deliveries. 

Thanks to the reach they’ve built up over the years, Douglas explained that their customers “can go to our Facebook page, which has a lot of information about us, and they can even order the food directly as well.”

9s Seafood’s Eddie Seetoh also went through a similar process. “We are not afraid to show customers what goes on behind the scenes to assure them that we have great quality,” he shared. “We regularly show photos and official reports with our new products. Structured images and designs are very important to attract positive attention—we want to woo customers with interesting visuals.”

The key lies in providing as much information as possible for your customers. People can’t walk into your store during a pandemic. But they are searching for you online. 

One of the best ways for SMEs to establish an online presence is by using Google’s free listing service, Google My Business. Then you can build a website to showcase the products and content that people are looking for.

Gilberto explained it from the user’s perspective: 

“I would want to make sure that I can buy your products online, that I can find different variations, colour sizes, and so on. I just checked out Douglas’ website, actually, and on top of ordering fish balls, I can add my own personal preferences and add notes to menu items. These little things make the experience relevant and seamless for the user.”

Also Read: Understanding the economics of food delivery platforms

Not taking advantage of the data

One of the major benefits of going online is the ability to track feedback from clients. 

“By using Google Analytics, you can find out where they’re coming from, and how they found your website,” says Gilberto.

With analytics tools on Google, Instagram, and other online platforms, you can see whether users buy or exit, and you can track how much time they spend on the site. Once you’re familiar with the data, you can test new methods to increase your customer base and the number of orders you get.

The key is to be discoverable, engage with the right content, measure, and iterate.

Sticking to cash and refusing to accept digital payments

Some restaurateurs worry that digital payments are unreliable or unsafe. Hacking is a very serious concern —and what if details get compromised? 

To this, Aik-Phong responded that FavePay is “integrated securely and encrypted to Visa, MasterCard, and even Paypal.” Unless you are sharing your login information with others, the risk for fraudulent activity on digital payments apps is actually very low.

Also Read: Healthy online-to-offline F&B chain Greenly raises seed funding led by East Ventures

“If you use credit cards, the technology is precisely the same. And if something does happen to your digital balance, there is an instant chat feature so that you can talk to customer service in just a few seconds,” he added.

FavePay is now trusted by thousands of merchants across Singapore and Southeast Asia. “So far, we don’t have issues,” Aik-Phong said. “But if you do, let me know on LinkedIn and I will help you out the best I can. Really.”

Most of the popular digital tools and platforms for F&B platforms use secure gateways when they collect payment data. One of the best ways to ensure safety is to keep your payment or login information private—don’t share your data with anyone.

Using only one platform

F&B companies need to be on as many platforms as possible rather than being shy about their presence. The signup process for most platforms and digital payments solutions is very easy, and it’s worth it to be active and present in the digital world—every platform is a gateway to reaching new customers.

For example, Google Pay Singapore recently introduced a spiffy new feature that lets users discover new food options that they might like directly within the app. Gilberto explained, “If you have an F&B menu and want to get orders on Google Pay, simply fill a form, send us your menu, and we’ll do the rest. It’s completely free.”

This feature is designed to help F&B establishments spread the word about their offerings without having to spend a cent on marketing.

Also Read: The battle for restaurant delivery dominance: How India’s online food ordering platforms stack up

Eddie and Douglas also recommended getting on as many platforms as possible. Douglas said, “If your parent has asked you for help, the first thing you should do is sign them up for Fave, Deliveroo, Grab, everything.”

“These platforms are available, they’re everywhere, and a lot of them are free. It’s not about the commission that these companies take. It’s about how you redesign and brand what you sell, and the customers you build a new relationship with.”

One last tip: gain attention on these platforms by offering promotions and bundles!

Not being creative enough

Aik-Phong pointed to the e-commerce booster package from Enterprise Singapore, which was designed to help F&B establishments make the transition from offline to online sales. 

“Switching now with the help of these tools will pay off in the long run,” he says. 

But those aren’t the only opportunities available for F&B establishments.

Thanks to the internet, the world is your oyster. You can design your business in any way you want—for example, after food delivery platforms such as Grab grew more popular, some people launched delivery-only business models. 

“You’re only limited by your imagination, and ability to merge your resources with your ideas to execute something,” concluded Douglas.

If you haven’t yet, then it’s time to make a switch.

The presence of online tools for everything from contacting customers to collecting orders to delivering meals to measuring the success of a new menu item makes everything frictionless.

Done correctly, digitalisation will make your job as a restaurant owner easier—and it also provides customers with a much more enjoyable, hassle-free experience. 

More customers, less stress on your end—what’s not to love?

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Register for our next webinar: How to pivot your growth strategy post COVID-19

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At e27, we are doing our best to empower entrepreneurs with the tools and resources to build and grow their companies –regardless of their funding stage.

We have previously published a list of e27 Pro members who are currently fundraising for their seed funding round. This time, we return with more members that we believe should be on your investment radar.

Also Read: Meet the 5 members of e27 Pro that are currently raising their pre-seed funding round

H3 Com

H3 Com is a Singapore-based startup that developed HEAL-C, global online telehealth and medical travel platform that targets medical tourists and establishments all over the world. It provides online consultations and booking access to the most reliable clinics around the globe to make sure that patients get the appropriate treatment.

It currently has no investors from outside the company for its seed-stage funding. According to co-founder Alexander Mokretsov, when the seed round is complete, the company plans to implement additional features in the platform, increase marketing activity, hire more people for support, and open additional offices in countries where its partners operate.

Epic Journey Consultancy

Epic Journey Consultancy is operating under EPIC X, a platform that is designed to enhance what the company called “experienced engagement.”

Users can register, buy tickets, track a friend’s location, and find photos for events or activities while seeking out merchants’ deals, sponsors’ promotions as well as activities rewards. The startup said it focusses on the realms of sports, wellness, and technology.

Based in Singapore, EPIC X’s CEO Adrian Mok shared that the company is currently raising funding from private angel investors to prepare its Minimum Viable Products for launching.

“We are pivoting some plans and require the funds to do so for product testing and validation. The app development needs to be ramped out to get the product ready for launch,” said Mok.

InsureVite

Singapore-based InsureVite is an insurtech company with a cloud-based platform named SmarterCS Bot, where users are allowed to automate service delivery through chats.

Some of the features include a dashboard tool that can gather chatbots data to create easy-to-use reports.

Talking to InsureVit in brief, the company confirms that they have raised a seed funding from angel investors Batjargal Dashdorj and Darren Harrison, as well as seed funding from Startupbootcamp Melbourne & Global Insurance Accelerator.

For the use of the funding, the company said it plans to use it to triple the number of current enterprise customers, increase tech developers and business developments headcount, as well as to cover operational expenses.

VITA by Zing Healthcare

Using tech-enabled tools to monitor and measure health data at the workplace, VITA provides insights into personal and corporate health data to help keep track of health policies and assist in formulating a customised health programme.

Based in Malaysia, VITA displays the real-time likelihood of users developing heart disease, stroke, diabetes, and kidney failure. By enhancing digital health data through data application to accredited international medical guidelines and latest medical research, VITA can give patients reliable information to assess the risk of developing dangerous medical conditions.

Dr. Ian Ng, VITA’s founder, confirmed that the pre-seed funding round of the company was backed by private investors who are part of the company. It also has an equity stake by MAHSA Group investment arm, a health sciences academy.

Also Read: Why e27 Pro is enabling companies’ success

“Thirty per cent of the funding is to increase the team size to develop and convert the leads that we generate. Twenty per cent to improve the tech team capabilities in UI/UX and also enhance integration with hospital and clinic information systems. The rest will be divided for working capital as most corporate clients work on a credit facility and for increasing marketing efforts in digital platforms,” Ng said.

ConnectUpz

ConnectUpz is a platform that promotes niche businesses to their local community and helps them to easily connect with their customers.

The Singapore-based company’s customer engagement platform features options like digital loyalty and retail ecosystem, that are completed with personalised communication system, access to insights, and secure transactions.

Currently, the company said it’s in the midst of raising a seed round. “We are looking to scale up operations to onboard more merchants onboard the platform and launch the business connector feature to promote collaborations within the ecosystem,” said Vijay Dylan Kumar, CEO and CTO of ConnectUpz.

Workbean

Based in the Philippines, Workbean focusses on helping companies find talents through showcasing authentic stories about people, workplace, and culture to attract the right talent.

It emphasises on the importance of culture in choosing the right workplace, and it has become the company’s mission to do so.

Neil Rojas, the startup’s co-founder said that family and friends are the ones behind its seed-stage funding. “We plan to accelerate the development of a product feature that can capitalise on the immediate need of companies, to virtually measure the engagement of their employees in real-time and on-demand,” explained Rojas.

Rekosistem

The Indonesia-based startup Rekosistem described itself as an end-to-end zero waste management startup that strives for a sustainable ecosystem. It seeks to improve how the waste value chain works to be more productive and efficient –with minimal behavioural changes.

Its services include digital waste management that improves productivity and simplifies the process through Waste Picking Apps and IoT-connected Smart Drop Box. It also includes a Waste-to-Energy and Anaerobic Digestion Method that converts organic waste into renewable energy.

“Currently, we are on the angel round investment, with US$70,000 raised for product development. The investor is an individual businessman who I couldn’t disclose,” said Rekosistem CEO Ernest C. Layman.

“We are looking for a seed round investment with ticket size of US$750,000 for 18 months of expansion, starting from the second half of 2020. If we can raise fund, we plan to use the fund to focus on apps penetration, development of IoT Drop Box 2.0, the increase of B2B Waste Management Services, and to install Biodigester Facility with feeding capacity of five tonnes of waste per day.”

Shuttle

Operating in Seoul, Shuttle Delivery provides delivery services from restaurants with a fully bilingual service, where customers can place orders in either English or Korean.

According to Jason Boutte, the company’s co-founder and CEO, Shuttle specialises in a customer-facing platform that connects people to restaurants in their area and gives them the option to schedule a pickup or get food delivered.

Shuttle Delivery has expanded to multiple delivery areas whilst bootstrapping the entire way. In May 2019, they launched an operation in Busan.

Careershe

Based in China and Singapore, Careershe is a startup focused on helping students between age 15-25 to learn about the world of work and guide them in major life decisions, such as choosing university degree specialisation. Bringing in from the latest international research in career development methodologies, it hopes to help Chinese students find their desired careers.

Also Read: Five e27 Pro member-companies describe their experience with e27 Connect

Careershe co-founder Steve Xie said that for initial funding, it was funded by a family fund with key investor Eddie Chng.

“For the current round, we have not confirmed investor interest yet, but we are looking to increase talent hire within the team, business development and marketing costs, and possibly fund a joint research project between the University of Oxford and a China university for development of IP and go to market,” added Xie.

Financial Butler

Singapore-based Financial Butler aims to simplify personal finance and makes it accessible to everyone. It works by aggregating users’ financial data and using a goal-based analysis and analytics engine to help give users their real financial picture and offer personalised products to users’ needs, suitability, and affordability.

Its analytical tools provide insights to show users’ spending on essential and non-essential items. With an AI-driven engine, it matches financial products according to users’ monthly affordability.

Gordon Frois, co-founder of Financial Butler, the company hasn’t got any pre-seed funding. But it has started to raise and plan to utilise the funding to build partnerships and marketing, as well as focus on R&D and incorporate further machine learning capabilities.

Onzla

Onzla is a Singapore-based online event planner. The company was built on the foundation of helping event planners deliver memorable events every time.

It provides access to thousands of relevant suppliers of products and services. Using AI, it alerts customers of hot deals and promos; it also ensures that every guest gets notified and shows up for the event.

Currently, Blockchain FF is the investor involved in the company’s seed funding round, as confirmed by Jamie Tan, Onzla’s Director.

Tan said that they plan to use the funding to enhance platform feature, develop new version and R&D, enable monetisation features and payment gateways, use part of the funding for GTM, marketing, awareness, and adoption, as well as to hire resources to support sales, expansion, retention, and ops.

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Having a completed startup profile on the e27 Startup Database will promote greater exposure among potential investors and partners. We strongly encourage startups to create and/or update theirs today.

Interested in taking the next step? Be a part of the community and sign up for an e27 Pro membership today! You may visit here for more details.

Image Credit: Bethany Legg on Unsplash

The post Return of the startups: These e27 Pro members are raising their seed funding round appeared first on e27.

When thinking about the payments landscape in Asia, there’s no doubt that its complexity is the first thing that springs to mind. Southeast Asia alone has over 1,000 local payment methods (LPMs) each fighting for their corner of the market.

But one country is shaping up to be the region’s next payments battleground and that’s Indonesia, the largest B2C e-commerce market in Southeast Asia.

Against the backdrop of COVID-19, Indonesians have been turning to the e-commerce marketplace as a safer and more hygienic way to procure goods and services. For the country’s retailers, this surge in demand for online services forced some to take their businesses online for the first time.

Market size

Others, such as Blibli and unicorn startup Bukalapak, seized the opportunity to gain market share by rapidly increasing online offerings in vertical such as groceries to cater to the rising demand. While external factors such as COVID-19 have accelerated e-commerce transaction volumes, in Indonesia, the market was already on an upward trajectory with the country’s digital economy expected to be worth US$130 billion by 2025.

With an outlook like this, it is no surprise that there have been high-profile movements in the market of late. With a presence in the market since 2009, Gojek is Indonesia’s flagship super-app with a valuation of US$10 billion and an expanding presence across Southeast Asia with 170 million users in the region.

Also Read: Indonesian digital payments platforms OVO, Dana reportedly agreed to merge

Just earlier this month Facebook’s WhatsApp, together with PayPal, announced that they had invested an undisclosed but ‘meaningful’ sum in the company. It remains to be seen what this will mean for Gojek’s payment method, GoPay, but it has already led to fierce competition in the form of a rumoured merger between Indonesian fintech startups Ovo and Dana.

With the merger, digital payments company Ovo and digital wallet provider Dana will go head-to-head with Gojek fighting to grow and retain their slice of a consolidated Indonesian payment market.

Merging forces

What Gojek and a merged Ovo and Dana have in common, is that both would-be ‘super apps’ see their digital payments business as their route to customer acquisition before offering financial products and services ranging from ride hailing (e.g. Go-Ride), food delivery (e.g. Go-food) and massages (e.g. Go-Massage) to utility bill payment (e.g. Go-Bills) and grocery shopping (Go-Mart).

The implications of a potential Ovo-Dana merger lie in the significance that it could help merchants operating in the country streamline the payment methods they offer their customers. With 17,000 islands across the country, Indonesia’s payment landscape is notoriously fragmented.

For consumers, this would mean an improved payment experience with the local payment methods they know and trust available when they make a purchase.

So where does the opportunity lie for new entrants in the Indonesian market?

Well, the success seen by Indonesia’s unicorns might well just be the tip of the iceberg for ambitious fintech both currently operating in Indonesia and eying market expansion. The country’s 273.5 million-strong population offers huge potential for growth with the rapid adoption of digital payments set to continue.

This is in large part due to an unbanked population of circa 95 million, a third of Indonesia’s population. As the payment market opens up, more and more of these people will be able to access financial services which are in turn set to drive digital transactions.

Also Read: Here’re the most-used digital payments across APAC in Mar-Apr 2020

Indeed, this is evidenced by smartphone adoption in the country which is growing 17 per cent year on year. When we consider these developments together with the Government’s support of digital payments like introducing standardised QR codes (QRIS) and the planning for “robin hood” type flat-rate fees for certain digital wallet transactions (where larger merchants pay more than smaller merchants) aimed to increase SME adoption of ewallet support.

Given two years ago Indonesia e-wallets overtook ATM and debit cards in 2018 it appears that there is no end in sight when it comes to chart the stratospheric rise in digital payments in Indonesia.

In this conducive environment, the opportunity is ripe for those looking to offer digital payments and e-commerce services in Indonesia. In fact, according to our recent Global Payments Almanac; China, the US, and Singapore make up the top three nations Indonesians’ procure their goods and services from, making it an attractive market for cross-border focused and international merchants.

That being said, the Indonesian market is not without its complexities, and new e-commerce regulations set to come into force in November 2021 will require extra consideration from merchants looking to enter the space without a physical presence in the country.

While this move may result in cross-border focused and international merchant businesses limiting their product offerings in Indonesia for the foreseeable future, it will strengthen the development of local market places given that Indonesians would have to turn to them to access those same goods.

Also Read: Fintech innovations are likely to be accelerated during the pandemic: OVO CEO Jason Thompson

More importantly, the consolidation of e-commerce market places will also see them focus more on providing local support and better customer service – and this can come in the form of facilitating payments with the local payment methods that Indonesians trust and prefer.

It is for this reason that digital payment providers such as Dana and Ovo are considering a merger to strengthen their market position to enhance their service offerings to the Indonesian public. This merger would create additional complexities with Gojek backed by Tencent and Ovo/Dana back by Ant Financial again going head to head in a market-creating completely independent ecosystems.

Where e-commerce savvy Indonesian consumers, and those new to online purchases, decide to part with their cash online will be driven by the customer service they are offered by a merchant. This includes the ease of payment and having the payment options they know and trust for example LinkAja, Ovo and GoPay e-wallets, cash payment via mini-marts, or chains of convenience stores such as Alfamart available.

Those entering the market will need to arm themselves with the local knowledge via partners who can keep pace with Indonesia’s changing payments landscape to ensure they gain the trust of the growing local consumer spending power.

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Register for our next webinar: How to pivot your growth strategy post COVID-19

Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. Become a thought leader in the community and share your opinions or ideas and earn a byline by submitting a post.

Join our e27 Telegram group, or like the e27 Facebook page

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