The Founder on Founder Podcast series is a weekly podcast hosted by Olivier Raussin, Managing Partner at FEBE Ventures, an early stage Venture Capital fund supporting outstanding entrepreneurs in Vietnam and Southeast Asia. It features tech entrepreneurs with a focus on Southeast Asia’s innovation business and tech landscape.

Featured in this episode is Julian Artopé, founder of Zenyum, a Singaporean startup with the mission to make cosmetic dentistry more affordable.

Founded in 2018, the startup partners with hundreds of dentists to provide 3D-printed Invisible Braces across seven markets in Asia, produced under the highest quality standards.

Zenyum has recently raised a US$40 million Series B round from co-investors including L Catterton, a private equity firm focused on consumer brands.

Originally from Germany, Artopé has been working in startups all of his life and made it a mission to learn from great founders.

Also Read: Dental startup Zenyum secures US$13.6M in Series A funding, making personalised dental products accessible

He has spent four years in the UK with a digital payment startup Skrill (Moneybookers), and another four years in Africa where he learned to love emerging markets. Then he did his MBA in Singapore with INSEAD which later led him to found Zenyum.

Artopé said: “We wanted to solve a very large problem. So we have a very large market and wanted to do a consumer business. So in a perfect world, have something where I have a product that I can ship to consumers. B2B SAAS just for me personally, emotionally is not fulfilling enough. We want to build something where we can own an entire category potentially, and build a category-defining company.”

“I had a very interesting dinner with a friend of mine who incidentally at that point, just finished his training and his education as an orthodontist. He was mentioning that he is a little bit upset because he just put 13 years of his education into a profession that more and more sees evolution from 3D printers.”

“So the skill set that he is learning is being more and more automated. I found that very fascinating because nowadays you don’t often find an industry that is being disrupted with that kind of speed that you see in orthodontics and where you have a product with invisible braces, which is Zenyum’s flagship product”.

Expanding across Southeast Asia

Orthodontics as a category is very established in markets like Europe and in the US but is still nascent in Southeast Asia. Thus, Zenyum seeks the opportunity to establish a synonym through working with hundreds of dentists across seven markets and distributing their products with the mission to spread smiles across Asia.

He said: “We knew from day one that we wanted to be an Asian company with a special focus on Southeast Asia. The reason we launched initially in Singapore is that regulation is actually the toughest but at the same time, speaking to regulators is very fast. So getting the initial product off the ground with the right level of quality went the quickest here in Singapore. Once we had the product-market fit here, that’s when we started our expansion across Southeast Asia.”

Today, Zenyum is operating in seven markets including Singapore, Malaysia, Vietnam, Hong Kong, Thailand, Indonesia, and Taiwan.

Building Zenyum’s company culture and recruitment process

Zenyum strives towards building a workplace where people want to enjoy coming to work every single day. Much of their values would include speed, grit, curiosity, candour, and lightheartedness.

Also Read: Ecosystem Roundup: SEA’s new Unicorn + food waste management startups

With the COVID-19 pandemic where there were a lot of uncertainty and communication barriers, Zenyum decided to rather “dial-up” their culture to keep it more alive.

“So be very proud of the values that we have, be proud of the achievements that we have and make sure that for the people that are aligned with us, we are building the best possible place,” said Artopé.

Through their company culture, team mission and working environment, Zenyum is constantly attracting great talents and currently having more than 200 employees across all of its office locations.

When asked about the recruitment process and hiring decisions, Artopé shared:

“Change is dramatically based on the stage and size of the company you’re in. In the beginning, just be humble and happy for any talent that speaks with you. When the company grew and when we had our product-market fit and were able to attract more talent, we started hiring a lot for culture. As the company grows you can also hire for skill fit. The balance is important for skill and culture.”

On their latest fundraising milestone with L Catterton and other co-investors, Artopé said:

“The way we initially structured the company, we always try to think two or three rounds ahead in terms of the investors we want to get on board. We knew we needed to build the product-market fit to attract some of the tier one investors in the region and identify the ones we see as a big fit and whether we could imagine working together.”

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Image Credit: Zenyum

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Paragon Pictures on Tuesday announced that it has raised undisclosed Pre-Series A funding from SALT Ventures and Inter Studio. The production house is known to be under the umbrella company of Ideosource Entertainment, a subsidiary of NFC Indonesia and M Cash, who also happens to be its existing investor.

The additional funding will be used to produce several new Intellectual Properties (IP) in various formats, including live streaming content on Gojek’s GoPlay platform, children animation, series for OTT platforms, and feature films.

“Our vision is to produce local content in various formats with a unique, fresh perspective for local and international audiences,” said Paragon Pictures CEO Robert Ronny.

The company has previously produced content such as Losmen Bu Broto, Backstage, Ini Budi animation series, to JKT 48 live streaming content on GoPlay.

Managing Partner SALT Ventures Andika Sutoro Putra described the Indonesian film industry as a “pent-up demand industry”, meaning that consumer demand for Indonesian filmmakers will skyrocket following the end of the pandemic.

Also Read: Today’s top tech news, Aug 30: M Cash subsidiary to invest in movie production company

Kevin Sanjoto, Partner at Inter Studio, said, “In my opinion, from the perspective of geography, politics, and culture, Indonesia is a big and unique market with a wide array of local wisdom in each of its regions… From this unique setup, [we can see that] there remains a great opportunity for the Indonesian content ecosystem to grow extensively.”

Intern Studio Group itself is a production house with more than 50 years of history in the country.

Ideosource Entertainment CEO Andi S. Boediman said that this investment will open more collaboration opportunities with Inter Studio in developing new films based on the IP assets owned by the company.

Since 2018, Ideosource Entertainment has been involved in investing in various local film productions such as Keluarga Cemara, Gundala, Sobat Ambyar, dan Bebas. They have also invested in various digital platforms such as GoPlay and Cinepoint.

Previously, Visinema was an example of Indonesian production house that has raised funding from a venture capital firm. In a Series A funding round led by Intudo Ventures, the company managed to secure IDR45.5 billion (US$3 million).

IDN Media had also founded IDN Pictures by acquiring Demi Istri Production.

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The article Paragon Pictures Umumkan Pendanaan Pra-Seri A dari SALT Ventures dan Inter Studio was written by Randi Eka Yonida in Bahasa Indonesia for DailySocial. English translation and editing by e27.

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Southeast Asia is going through what might be termed a golden age of digital transformation and technology investment. A rising middle class and digital penetration have brought about a demographic and innovation boom. Southeast Asia’s growth market for tech investments has been red hot in recent years, as E-commerce and its ancillary sectors – payment and logistics – have exploded.

Apart from that mobility/transportation, artificial Intelligence, food-tech, enterprise solutions, and IT services have seen significant investment in recent years. For several years now, Singapore has been the standout story when it comes to entrepreneurship, capitalising on its banking and industrial base to create an unrivalled tech hub for startups in SEA.

Countries like Indonesia and Vietnam are catching up as they witness the renaissance of a new middle class fuelled by strong GDP growth. A noteworthy trend in these markets is the inflow of foreign money from Japanese, Chinese, Singaporean and South Korean VC funds which has influenced startup growth. Significantly, global leaders and technology innovators from the EU and US have expanded to the Asian market and launched their operations with a high rate of success.

Malaysia: a thriving startup tech ecosystem in Southeast Asia

Currently, the Malaysian tech startup ecosystem early-stage investments are powered largely by domestic capital and conglomerates. With all the right moves the country has been making as a key player in the ASEAN, they are able to compete with other global cities in terms of success.

Rising consumer spending and increasing interest from foreign investors are coming together with targeted government support programs, to create the perfect conditions for the development of large-scale innovation and technology hubs.

Malaysia is now displaying all the right indicators to point to a high growth trajectory. Malaysia’s GDP per capita ranks 2nd within the SEA region so it certainly represents a lucrative market for foreign investors.

Especially significant in a country where business and commercial activities are still mainly offline and traditional, Malaysia has improved its regulatory environment by establishing clear laws and regulations. These provide protection to businesses in areas like intellectual property rights hiring and contracts. Malaysia ranks second in ASEAN for ease of doing business.

Also read: The future of mobile: how did mobile apps fare in 2020?

The country can boast of a vast and versatile pool of potential talent, a valuable factor for tech startups and companies looking to attract talent. With English widely used in the country, it is not surprising that Malaysia has become the choice for several foreign entrants to establish their regional operations here.

Moreover, the pandemic has been a boost for digitalisation in the Islamic finance sector. In a post-COVID world where many banks are facing the pressure to digitise their offerings, the country has enormous potential as an emerging global Islamic fintech hub. As financial institutions shift out of the culture of doing technology in-house, Malaysia is poised to be the big gainer in this digitisation agenda.

Islamic banks and financial institutions looking to ally with fintech startups to develop new services are sure to find Malaysia a very attractive proposition. Thanks to the legacy of Islamic banking and regulatory environment, Malaysia’s $3Bn Islamic fintech market is set to expand exponentially with 25 Islamic fintech startups already operating in Malaysia.

MyStartup Hub (MSH) Programme as a catalyst for regional expansion

The Malaysian Global Innovation & Creativity Centre (MaGIC) is the country’s apex agency tasked with the discovery and development of technology startups and leverage Malaysia’s strong positioning in the regional ecosystem to foster a vibrant startup ecosystem in the country. Through various programmes they have since 2014 helped over 100,000 entrepreneurs.

The MyStartup Hub Programme (MSH) is envisioned as a soft-landing programme for startups from around the world who want to establish a business hub in Malaysia. Collaborating with Malaysian ministries and agencies, MyStartup Hub provides help in company incorporation, local talent acquisition, and market access.

Also read: Fundraising masterclass for founders with Founders Grindstone

High-value late-stage startups from anywhere in the world can establish a presence in Malaysia as a gateway to access ASEAN’s marketplace. As international markets open amidst the post-pandemic recovery, MSH has doubled its reach from last year. In 2021, MSH will assist 20 high-growth global startups with innovative technology looking to expand in and through Malaysia.

Selected start-ups undergo a structured 12-month programme where the business model is validated and they receive in-depth guidance on the business incorporation process, hands-on mentoring, local talent acquisition and access to the Malaysian market by facilitating meetings with local partners, suppliers, distributors and clients. MaGIC offers financial incentives to start-ups that fulfil the commitments under the MSH programme. The programme aims to support Malaysian talent secure employment at MSH startups.

How Malaysia’s diverse market makes it a conducive gateway to Southeast Asia

Malaysia is perfectly positioned as the most favourable entry point for global startups to get to know how to do business in the region. A cosmopolitan country where most people speak 3 or 4 languages — Malay, Chinese, Tamil, and English – Malaysia’s unique cultural mix represents a potentially lucrative market of tech-savvy consumers. Business-friendly regulations and processes make it easy to launch a company and thrive with skilled low-cost talent. Malaysia ranked 2nd among ASEAN nations in the 2019 WEF Global Competitiveness report.

High skill levels combined with digital economy growth are translating into higher disposable incomes in a country where access to digital devices is already higher than in Singapore. A highly educated workforce and youthful multicultural consumer demographic make it a great place to test and refine business models for the wider region.

Companies entering Malaysia get access to a ready-made network of business partners providing high-value business support services, and access to top-notch logistics and infrastructure. Easy access to Singapore and its financial resources is another reason why Malaysia is the right launchpad to the wider Southeast Asia market.

Also read: How this Taiwan-based company adds purpose to your purchase

With 650 million people spread across a vast geographical area, SEA is a challenging but highly attractive market for foreign unicorns and tech startups. Thanks to its size, digital penetration, rising income levels and stable business environment, Malaysia makes an ideal testbed to understand how they can succeed in SEA.

The Malaysian government signalled its intentions to build a digital economy and attract foreign investment with the establishment of the Malaysia Digital Economy Blueprint (MDEC) to lead the charge. Significant digitalisation goals have been set with large allocations announced in the latest budget. MDEC projects a 22.6% contribution to GDP by 2025, leading to 500,000 jobs created within the digital economy.

MyStartup Hub Programme 2020

The main objective of the programme is to empower participating startups with hands-on assistance with company establishment paperwork, hiring of talent, and local market access. This allows them to build a strong team for ASEAN operations, sales & marketing, R&D by employing strong local talents.

Priority areas for program selection are Smart Manufacturing, Smart Cities & Transportation solutions, as well as Healthtech, Education, Agritech, and Tourism innovators. The start-ups should have a clear ASEAN-focused growth plan and a track record of product development (MVP stage), performance (Above RM 1Mn annual revenue), and/or funding history.

The MyStartup Hub programme is opening its new cohort for global startups who are keen to explore the Malaysian market and expand regionally. Interested startups may visit the programme hub for more details.

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This article is produced by the e27 team, sponsored by 
MaGIC MyStartup Hub

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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Funding and acquisition news in the startup ecosystem always manage to attract the attention of both the media and industry players.

There are many reasons behind this fascination. First, it helps the ecosystem to indicate trends in the market as reflected through investors’ appetite. Second, it is also a way to show, of all the existing startups in the ecosystem today, which one is able to gain investors’ trust and secure the funding to help them move forward?

When the e27 team was curating the companies for the Funding and Acquisition category on e27 Luminaries, the ticket size was not the only consideration that we made. We also look at other factors such as the country where the startup originates from or the potential of the startup to tackle some of the greatest challenges of our time.

Here are some of the highlights from the companies in the list:

Doctor Anywhere

Right at the beginning of the pandemic, in March 2020, Doctor Anywhere announced a US$27 million Series B funding round led by Square Peg. The funding round followed the company’s expansion into Thailand.

In a contributed post to e27, the company explains how they tackle some of the unique challenges brought by the pandemic for a healthtech startup such as them.

“The COVID-19 pandemic continues to challenge us to be more agile and adaptable in our operations while keeping our users at the heart of what we do. What has been key to our efforts is the selflessness of our team, who step in to cover for each other whenever we need an extra pair of hands,” Tang Rei En writes.

For e27 Luminaries, the company nominated Dr Yang Guirong, Assistant Medical Director, for leading the company’s effort to tackle COVID-19 impact.

Also Read: These e27 Luminaries are taking the Indonesian startup scene to greater heights

Expedock

At the beginning of 2021, Philippine-based Expedock announced that it raised a US$4 million seed funding round. This investment also included a US$2.5 million investment by Ali Partovi, who had previously backed the likes of Airbnb, Dropbox and Facebook.

Supply chain and logistics continue to become a promising vertical in the SEA region. In addition to attracting high profile investors, this funding round was also notable in terms of ticket size and stage. It allowed us to feel more optimistic about the future of the Philippines as the next popular destination for investors.

Expedock nominated Chief Product Officer Jig Young for developing a product that gained the attention of investors and users.

GudangAda

In May 2020, Jakarta-based GudangAda announced a massive US$25.4 million Series A led by Sequoia India and Alpha JWC –soon after raising a seed funding round in the same year. This brought the total investments that it has raised to US$35 million.

In an interview with e27, Founder and CEO Stevensang stated that the company was looking to raise a Series B funding round.

For e27 Luminaries, the company nominated Andre Widjaja, Chief of Business Development, for building the sales and BD team and preparing it for expansion.

Koinworks

In the middle of 2020, Indonesia-based KoinWorks secured a US$10 million funding round from Lendable to help local SMEs raise funds online.

The company also claimed that it has hit probability as it secured 100,000 SMEs as early adopters of its NEO products.

It nominated CMO Jonathan Bryan for his success in maintain brand position amidst a challenging time.

Lomotif

Earlier this year, global media and entertainment company ZASH announced the acquisition of 80 per cent stake in Singapore-based video-sharing platform Lomotif.

In a statement, ZASH said it believes that Lomotif is one of the fastest-growing video-sharing platforms in Latin America, Asia, Europe and West Africa, and its acquisition can put ZASH at the top surpassing TikTok and Kuaishou.

For e27 Luminaries, the company nominated Gene Tan, VP, Products & Markets, for leading the company’s expansion and product development.

Also Read: Despite the pandemic, these e27 Luminaries successfully spread their wings into new markets

Moovaz

In 2020, not only that Moovaz managed to secure a US$7 million Series A funding round led by Quest Ventures, the company also announced two acquisitions of companies in various verticals.

In June, it acquired SPH’s expat community media platform The Finder to build its digital community, followed by another acquisition of GetVan in September.

The company named Ming Hui Lee, Head of Operations, for ensuring smooth operations of the company during COVID-19.

Propseller

In October 2020, Singapore-based proptech startup Propseller announced a US$1.2 million seed funding round from a list of investors that include Iterative, Hustle Fund, XA Network, Rapzo Capital, Stein Jakob (Lazada co-founder and former CMO/CFO), Ben Neve (Dot Property Founder), three undisclosed “highly strategic investors”, and existing private investors.

The pandemic has been an interesting moment for startups in the property sector as it provided unique opportunities to combine the offline and online world to meet customers’ need for a safe way to view and acquire properties.

For e27 Luminaries, Propseller nominated Alexandre Wallemacq, Operations Manager, for ensuring smooth operations for the company during COVID-19.

Shiok Meats

Alt food startups are having a moment in 2021, but we have seen the momentum growing since 2020. In September, the Singapore-based startup announced a US$12.6 million Series A funding round to bring its cruelty-free shrimp products to the market.

The company nominated COO Durgalakshmi Sathiakumar for building a resilient team to enable growth and survival throughout COVID-19.

Transcelestial

In July 2020, space tech startup Transcelestial raised US$6.9 million in funding 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.

The funding round was followed by a US$2 million funding from Ayala-backed Kickstart Ventures.

For e27 Luminaries, the company nominated Kelvin YEO, SVP & CTO, for doing an “amazing job” in leading the team for the launch of the CENTAURI

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The e27 Luminaries is an initiative by e27 to celebrate the unsung heroes of the SEA startup ecosystem. Discover these notable companies and individuals here.

Image Credit: Matthew Osborn on Unsplash

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N&E Innovations, Intersnack Jon hands to convert cashew waste into an organic disinfectant

The story: Singapore-based medtech startup N&E Innovations has partnered with Intersnack Group, a savoury snacks producer in Europe, to create Vi Kang 99, an active compound synthesised from cashew waste.

Through this collaboration, N&E Innovations developed a cutting-edge technology which is able to effectively recycle cashew testa, the reddish-brown skin covering cashew kernels which are an abundant byproduct of the cashew processing industry. The active ingredient has been added to N&E Innovations’s face mask range, Vi-MASK, as well as its most recent organic disinfectant range, C2+.

How Vi Kang 99 works: Upon contact with oxygen and moisture in the air, Vi Kang 99 produces Reactive Oxygen Species (ROS), a reactive molecule that is naturally found in all living cells. The release of ROS damages proteins, DNA lipids and membranes of microorganisms including bacteria and viruses. This eventually leads to cell death, thereby destroying bacteria and viruses.

Also Read: Alt.Flex.Eat: Flexitarianism is the flavour of the SEAson

There are various types of ROS including singlet oxygen (1O2), hydrogen peroxide (H2O2), the superoxide anion (O2•−) and the hydroxyl radical (OH•). Each type of ROS has different targets and lifetime. In general, ROS acts to damage the cell membrane, enters the cell and further disrupts the proteins and DNA synthesis of the bacteria, thus leading to cell death (Fig

About N&E Innovations: Established in 2020, N&E was founded by Didi Gan with the intention to provide users with a safer alternative range of products that can be used by people of all ages. The startup identified the importance of sustainability and the harsh effects of chemicals as major pain points to eventually engineer its innovative molecular coating technology, Vi Kang

Orios Venture Partners closes US$30M Select Fund I

The story: India’s technology venture capital firm, Orios Venture Partners, has announced a final close of its Select Fund I. The funds have been raised from multiple family offices and institutions.

This is the third fund raised by Orios; it had earlier launched and closed two early-stage funds in 2015 and 2018.

Investment areas: New commerce, technology-led financial inclusion, new media, gaming, consumer and agritech amongst others.

Ticket size: Orios’s Select Fund I invests between US$4 million and US$8million per company. It primarily does follow-on investments into its existing companies, which have proven to be winners; and also late stage to pre-IPO companies whose founders it knows well.

Also Read: The pros and cons of signing on an angel investor for your startup

So far, the Fund has invested in Series D and E rounds of Pharmeasy which has now announced plans to launch its IPO in the next nine months, Series B and C rounds of Country Delight and the Series C round of GoMechanic.

It has also invested in Mobikwik’s recent round in March 2021 which has already seen follow-on investments at +40 per cent from Abu Dhabi Investment Authority ( ADIA); and the pre-IPO of Nazara technologies.

The firm’s portfolio companies also include gaming company Zupee, agritech company Krishify , digital health company Beato, retail tech company Gully Network, fintech company MoneyOnClick, and EV-battery-as-a-service company Battery Smart.

Pomelo launches brand solutions platform Prism.

The story: Pomelo, Southeast Asia’s leading omnichannel fashion platform, has announced the launch of Prism., total brand solutions to cater to the needs of brands across Southeast Asia.

What is Prism.?: It is an end-to-end total brand solutions platform that aims to provide total solutions for brands to scale their business. Prism. provides a wide range of brand-centred integrated solutions, from merchandising and trading, to 360 creative marketing tools, data analytics and insights, leading tech operations, and dedicated performance marketing.

Prism. offers brand-focused services that include dedicated omnichannel solutions including Tap.Try.Buy., Pomelo’s in-app online-to-offline shopping feature, as well as access to the brand’s e-commerce platform and physical stores in Thailand, Singapore, Indonesia, Malaysia and the Philippines.

Also Read: How Pomelo tackles the problem of high product return with its O2O retail experience

Furthermore, brands can benefit from the platform’s 360 marketing capabilities, incorporating branding consultation, a full-service creative studio for best in class content production, multi-channel social media content localised to their target audience, a wide influencer and KOL network, and data driven performance marketing solutions. Throughout its 8 years of service, Pomelo has built up a solid network of users and traffic, made up of female audiences that are passionate about fashion, a unique offering that brands can tap into for real brand growth.

The scope of Prism.’s offerings also extend to trading and merchandising, offering best-in-class design, manufacturing and fabric sourcing services. This will enable brands to get invaluable industry insight on trend forecasting, product development, technical design, sizing and production. Moreover, the platform’s tech capabilities allow brand personalization which permits optimal product discovery based on our proprietary machine learning, a resource that can help brands become more competitive in the online retail landscape.

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Image Credit: Orios Venture Partners

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