Thailand Krungthai Bank has announced the launch of Infintas, an R&D company for digital innovations in financial products.

As a subsidiary of Krungthai Advisory, Infinitas was incorporated with a capital of THB 300 million (US$9.84 million).

Building around an agile and resilient culture, Infinitas will place innovation at the core of its operations. As part of Krungthai’s plan to drive the Kingdom towards a digital economy, Infinitas will seek to utilise Artificial Intelligence and Machine Learning technology to develop financial platforms in the healthcare and tourism industries.

The subsidiary will also focus on expanding Krungthai’s five ecosystems and utilising the bank’s Big Data to create customised customer solutions and sustainable growth for the bank.

Read More: Blockchain-based fintech company Everex signs deal with Krungthai Bank, SHWE Bank

Leveraging on Infinitas’s digital solutions, Krungthai’s user base of over 40 million customers and partners can look forward to leading digital solutions and open digital banking services.

Krairit Euchukanoncha, Vice Chairman, Krungthai, said that Infinitas’s digital solutions will prove crucial in fighting against inequality and corruptions within the Kingdom. Its recent launch of the Paotang app, consisting of functions including a Health ID and digital wallet, has enabled the government to distribute support packages efficiently and transparently to the general population.

Read More: 3 ways fintech innovations are enhancing financial inclusion

Somkid Jiranuntarat, Advisor to the Managing Director of Krungthai Bank, shared that customer demands will evolve and personalised solutions will be the new normal.

Therefore, financial institutions will need to revamp their offerings to adapt to this change. They need to ensure stakeholders within the ecosystem, from individual customers to small and medium enterprises (SMEs), can capture the benefits of a digital economy to propel economic growth within Thailand.

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Image Credit: Infinitas

 

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Nektar.ai, a Singapore-based B2B sales productivity startup, has raised US$2.15 million in a seed financing round, led by Nexus Venture Partners.

Other investors participating in the round include Insignia Ventures Partners and individuals such as Anand Chandrasekaran, Executive Vice-President at NASDAQ-listed Five9.

The AI startup plans to use the money to further build out its platform and ramp up its engineering and product teams.

Also Read: Top 3 sales strategies for B2B startups

With over 40,000 B2B sales teams globally and over 15 million sales professionals, the B2B sales market is valued at more than US$8 billion.

Nektar.ai addresses this opportunity by connecting unstructured data from emails, calendars and Zoom to customer relationship management (CRM) systems.

Additionally, it incorporates these platforms with an organisation’s sales methodologies. This enables teams to work collaboratively to achieve greater sales figures.

Nektar.ai was founded in early 2020 by Abhijeet Vijayvergiya (former President and MD – APAC at Capillary Technologies; and Aravind Ravi Sulekha, a serial  entrepreneur and former tech leader at Zendesk . 

CEO Vijayvergiya said, “In the last decade, the investment in sales tools globally has grown by five times but the average sales quota attainment has fallen 40 per cent. According to Forbes, 57 per cent of sales reps missed their numbers in 2018.”

Also Read: Insignia secures US$200M fund II, to back early-stage tech startups in the region

“At Nektar.ai, we want to change this by reimagining the future of modern sales and building a first of its kind AI-driven sales productivity solution that will help the go-to-market revenue teams to seamlessly collaborate and make more sales reps successful in meeting their quota,” he added.

“Nektar.ai is filling a key gap that exists in how revenue teams operate: a collaboration platform that captures and leverages the collective experience and intelligence of the go-to-market teams and helps in operationalising the best practices and winning sales playbooks,” said Jishnu Bhattacharjee, Managing Director at Nexus.

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Image Credit: Nektar.ai

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Karzo, a Myanmar-based logistics-tech startup​ has emerged as the winner at the regional event of Startup World Cup (SWC) 2021. The platform-based logistics provider triumphed over 15 companies of the region and will travel to San Francisco in May 2021 to represent the region for the grand finals.

Said to be the first startup to fly the Myanmar flag high on the global stage, Karzo will compete for a grand prize of US$1 million in San Francisco.

“We’re honoured to have such heated competition with so many great companies around us,” said Alex Wicks, CEO and founder of Karzo.​

“The team has continually worked very​ hard to get to where we are; it’s been done by graft and execution, and we just feel so pleased that Myanmar – which is such a pivotal land bridge, geographically and economically, for South Asia and Southeast Asia – is going to be a representative for SEA at the SWC Silicon Valley event in front of the world,” he added.

Despite present challenges faced by the logistics industry, Karzo has continued to expand its fleet and has secured numerous contracts with global firms such as Maersk and Nestle.

With an expanded fleet and additional customer support, the transportation startup has seen a month-on-month growth in revenue. The company claims it has seen a 150 per cent annual growth during low-peak periods, with this figure rising during the peak season.

Also Read: In October, logistics tech startups continued to gain investors attention as the world struggled through a pandemic

Founded in 2016, Karzo has grown to be the largest virtual trucking fleet in Myanmar. With 5,000 drivers on its platform, it connects corporate enterprises and SMEs to logistics suppliers across the country.

Karzo’s platform offers clients reliable and trackable distribution alongside its range of services, including last-mile distribution and line haulage.

Additionally, the Burmese startup works with its clients and suppliers to provide benefits including insurance and financial products. It recently launched a truck-wrapping service, offering advertising for clients and additional income for drivers.

SWC is a series of startup conferences and competitions catering to tech startups from various development stages.

Come May 2021, over 60 entrepreneurs from across the globe will pitch in front of a distinguished panel of judges comprising the top investors from Silicon Valley.

Wild Digital, the platform created for internet leaders to come together and share bold visions for building great disruptive companies, hosted the SEA edition of the competition at the Wild Digital Southeast Asia Conference.

The virtual event featured over 500 speakers from across 30 countries and was attended by more than 6,000 attendees.

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Image Credit: Mak on Unsplash

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Hona, a Singapore-based social accountability platform, has announced that it has secured an undisclosed sum in its maiden investment from Draper University Ventures (DUV).

This follows its winning of the first place at DU’s Fundamentals of Entrepreneurship programme in August this year.

The capital will be used to support the app development as well as for marketing and research efforts.

Also Read: The meteoric rise of Zoom: Is it sustainable?

Remote workers are a growing population due to COVID-19. Procrastination is something almost everyone struggles with, and online privacy is a growing concern due to mass distrust.

Hona believes its solution can help address these key issues.

Set up in September this year by George Samuels, Hona is a social commitment platform to help one honour commitments and achieve goals together. It is a platform for remote workers, which “intelligently” rewards people who honour their commitments. It also incentivises, keeping yourself and others accountable.

Hona claims to be bringing a fresh approach to goal-setting and habit tracking, using proven methods in behavioural science, group accountability and blockchain technology.

Community is a key area of focus for Hona, with beta users having already pre-purchased memberships at hona.io. 

Samuels said: “Having validated our idea with paying customers, we knew we were onto something. And when we won the pitching competition, it only confirmed our hunches. Remote workers are a growing population due to COVID-19. Procrastination is something almost everyone struggles with, and online privacy is a growing concern due to mass distrust. We believe our solution can help address these key issues.”

Also Read: Tribe Theory rebrands to Draper Startup House after a US$3.5M investment from Tim Draper

Hona is Samuel’s second venture, which grew out of a productivity accelerator called The Pack and involvement in Bitcoin since 2013. His first company was Faiā, a community consultancy for progressive ventures specialising in blockchain technology, which has been around since 2018.

Legendary Silicon Valley venture capitalist Tim Draper started DU with a mission to accelerate ideas by igniting the entrepreneurial spirit globally. Through its online and on-site programmes, DU connects founders with an international network and capital to build the future. 

Tim Draper’s investment portfolio includes the likes of Tesla, SpaceX, Telegram, Robinhood and Coinbase. 

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Image Credit: Hona

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With digital transformation and tech innovation’s increasingly prominent role in the larger economy, the Malaysia Digital Economy Corporation (MDEC) is going to kick-off the month-long Malaysia Tech Month 2020 (MTM 2020).

The MTM 2020 is a purpose-built initiative that showcases Malaysia’s robust and versatile digital and technology ecosystem as well as the success of its innovative companies. Capitalising on demands and opportunities in the era of the Fourth Industrial Revolution (4IR), MTM 2020 — MDEC’s capstone event — aims to reinforce Malaysia’s position as a first-mover for the digital economy and Heart of Digital ASEAN.

Based on the latest statistics from the Department of Statistics (DOSM), in 2019, Malaysia’s digital economy has contributed 19.1% to the national economy, up from 18.7% in 2018. As is, the digital economy is expected to further increase its contribution by 20% this year with the e-commerce sector expecting to exceed RM110 billion in revenue in that same period. This is equivalent to 40% of the nation’s digital economy.

Also read: How interns with innovative skills can help bolster the workforce

With 4IR powered technologies and innovations like artificial intelligence (AI), robotics and the Internet of Things (IoT), proliferating and catalysing shifts in consumption, daily activities and lifestyles and workspace operations, there is a heightened need to ensure that all segments of society can effectively participate and reap the benefits of digitalisation.

“Malaysia is well on its way to integrate digital technologies and solutions into all levels of government and the economy. MDEC believes these digital inititaives must be for the benefit of the many, and by doing so, we can firmly establish Malaysia as the ‘Heart of Digital ASEAN’,” said Surina Shukri, CEO of MDEC.

“MTM 2020 will demonstrate our strategic interventions as the ‘winning-formula’ that will set the course forward for Malaysia, leading the country closer to becoming an exemplary, digitally-powered nation that will thrive in the 4IR and deliver shared prosperity for all,” Surina added.

Let’s walk you through the Malaysia Tech Month 2020

Commencing 10 November 2020, the exciting curation of world-class speakers and programmes aims to attract start-ups; entrepreneurs; corporate organisations; government stakeholders; small and medium-sized enterprises (SMEs); and both local and foreign tech sector leadership.
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The goal of MTM 2020 is to connect the brightest minds in both digital and tech sectors and facilitate high-value networking opportunities for all participants. Enabling the exchange of conceptual ideas and cutting-edge solutions from the region’s fast-growing digital economy, it aims to drive MDEC’s aspirations in establishing Malaysia as the Heart of Digital ASEAN and further reinforce Malaysia’s ambitions to become a powerhouse for the digital economy.

The MTM 2020 will also act as the overarching umbrella platform for all digital and tech industry events in November. This includes marque events that MDEC is organising and other tie-in programmes from ecosystem partners. The end-goal for MTM 2020 is to fortify the rising confidence in Malaysia as a compelling digital and tech investment hub for the region.

Also read: Cashflow and financing: what companies need to know

The main highlight of MTM 2020 is the Opening Conference that kicks off on 10-11 November, featuring keynote speakers Randi Zuckerberg, former Head of Marketing, Zuckerberg Media; Alexander Stubb, former Finland Prime Minister and Vice President of European Investment Bank; and Harry D. Moseley, Global CIO of ZOOM. Many of Malaysia’s tech ecosystem leaders will also be taking the virtual stage during this two-day event, including Patrick Grove, Co-Founder and Group CEO of Catcha Group; Stephanie Sitt, Co-Founder and CEO of Inmagine; Kamarul Muhamed, Founder and CEO of Aerodyne Group; Joel Tay, Soft Space CEO.

Other international level programmes include Digital Investment Summit, MyDroneTech Festival, TechFest LIVE! Road to WCIT Malaysia and DataKITA.Pulse conference.

Building a legacy for Malaysia

As the year-ending capstone event, MTM 2020 will further reinforce MDEC’s efforts to drive forward its three core pillars — expand digitally-skilled talent and improve their readiness, drive digitally-powered businesses en-route to being global tech champions, and facilitate digital sector investments.

“The digital transformation of a nation could be previously described as a journey, requiring specific initiatives to reach key demographics and meet those unique needs. The global pandemic has upended that notion, requiring an immediate shift in mindsets, agile pivots and precision interventions. Expectations are high for the digital economy to contribute significantly to the nation’s GSP into 2021 and beyond. MDEC, via important programmes like MTM 2020, will continue to reinvent our digital economy and lead it towards our vision of Malaysia 5.0,” Surina explained.

Also read: COMEUP 2020: Ushering the post-pandemic future with startups at the helm

MDEC is a government agency under the purview of the Ministry of Communications and Multimedia Malaysia entrusted to lead Malaysia’s digital economy forward. Incorporated in 1996 to oversee the development of the MSC Malaysia initiative, MDEC’s primary mandate today is to accelerate the growth of digitally-skilled Malaysians, digitally-powered businesses and digital investments in Malaysia.

MDEC is focused on creating inclusive, high-quality growth through the nationwide digitalisation initiatives that are in line with the Government’s Shared Prosperity Vision 2030 and firmly establishing Malaysia as the Heart of Digital ASEAN.

Where to find them

For more information on MTM 2020, you may visit the official page here. You may also register for their virtual events here.

To find out more about MDEC’s Digital Economy initiatives, you may visit their official site here. You may also follow them on Facebook and Twitter.

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This article is produced by the e27 team, sponsored by 
MDEC

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