UN Women Care Accelerator, a programme focusing on developing solutions for the care economy, has completed its 4-month intensive training schedule with 13 startups from the Asia Pacific region. 

Malaysia’s on-demand babysitting platform Kiddocare and Indonesia’s homecare service application LoveCare emerged as the grant winners of the programme.

The two startups will receive US$5,000 each from WeEmpowerAsia (a UN Women programme funded by and in partnership with the European Union) and Seedstars (a technology and entrepreneurial ecosystem builder based out of Geneve, Switzerland). 

Below is a snapshot of the 13 startups:

• LoveCare (Indonesia) saves clients time by matching them with the perfect carer that fits their needs and preferences in less than 5 minutes.
• Kiddocare (Malaysia) gives the tools to millions of freelance caregivers and nurses throughout Asia to better care for their clients while helping them grow their businesses through technology.
• Pillar Health (Malaysia) develops highly scalable tools that help independent care providers work more efficiently and operate their care services more effectively.
• Nannyz matches nannies and babysitters with families in the area.
• Kiidu (Thailand) is a care platform to find the most suitable nannies and caregivers in Thailand.  
• Aseana Caregivers (Malaysia) connects parents with trained, vetted and certified Malaysian babysitters for personalised on-demand childcare.
• Carer (Singapore) provides caregivers with the most comprehensive in-home nursing help and guidance. 
• Ayat Care (Bangladesh) facilitates empowerment without boundaries by providing care and coaching where it is needed and beneficial.
• Bihani Social Venture (Nepal) provides age-inclusive services focusing on mental and physical well-being for older people in Nepal.
• Mobiva empowers older people to live independently longer, healthier and safer while providing peace of mind to their families.
• JobNukkad (India) is an online portal that helps families connect with caregivers in their locality without paying commission to an agency.
• TiTLi (India) unlocks livelihood opportunities for millions of women by helping them become skilled early childhood educators and caregivers.
• Angels & I (Indonesia) provides a proprietary educational curriculum and certification for nannies to take care of and educate children at home.

Also read: A woman among women: 27 female-led startups in SEA that are going places

Launched in 2021, the UN Women Care Accelerator identifies and promotes women-led or women-impacting enterprises to turn the unequal care burden put on women into employment and business opportunities that benefit women, families, and communities.

The startups picked by the programme provide products, services, or tech solutions that can make care more accessible and affordable and improve the overall quality of care services online and offline.

Throughout the 4-month intensive training programme to fine-tune participants’ business strategies, the accelerator claims that it sees clear business growth and progress of the 13 startups in becoming more sustainable and gender-inclusive.

“However, it will require strong collaboration with policymakers and corporates alike to create an inclusive care economy,” said Katja Freiwald, regional programme manager at WeEmpowerAsia UN Women.

Besides Freiwald, Paul Ark (partner and head of ESG at Gobi Partners), Christina Teo (chief builder at she1K), Konstantin Hapkemeyer (investment manager in Africa & Asia at Seedstars) are on the jury to decide the two grant winners.

In the Asia Pacific region, women are often in charge of the household and take on a disproportionate share of unpaid care and domestic work responsibilities. 

OECD research shows that unpaid care is a critical reason for the poor participation of women in paid work. This is especially prevalent in Southern Asia, where female labour force participation is among the world’s lowest and has shown a downward trend since the early 2000s, as per a 2018 report made by International Labour Organisation.

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Image Credit: Care Accelerator

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Beacon VC invests in Pantera Blockchain Fund

The crux: Beacon VC and Fuchsia VC, the corporate VC arms of Kasikornbank and Muang Thai Group Holding (an affiliate of Kasikornbank), respectively, have invested in US-based Pantera Capital’s new blockchain fund.

Pantera Blockchain Fund is Beacon VC’s fourth investment outside of Thailand, after Southeast Asia-based Integra Partners, Singapore-based Vertex Ventures, and US-based NYCA Partners.

The fund intends to cover the entire spectrum of blockchain assets. It will be exposed to digital asset and blockchain markets through the investment primarily in venture equity and early-stage.

Also Read: Beacon VC joins construction-tech firm Builk’s Series B round to help it with ASEAN expansion

Pantera Blockchain Fund targets to raise US$600 million.

More about Pantera: Founded in 2003 by Dan Morehead, Pantera Capital invests exclusively in equity and tokens related to blockchain and digital assets. It received investments from a global network of more than 950 institutional investors and high-net-worth individuals.

SG startup Yugo secures US$300K to launch mobile app

The crux: Singapore-based Yugo Global Industries has raised US$300,000 in capital.

Investors: Angel investors based in Texas, Seoul, and Paris; and three family offices, namely Bellone Invest (Estonia), Negocia Capital (Singapore) and LCH Investment (Cambodia).

Plans: To launch Yugo’s app on Android and iOS by year-end.

More about Yugo: Yugo enables aviation companies to optimise their fleet inventory of private jets and helicopters by connecting members with the most suitable aircraft for travel needs. Established in early 2020, Yugo regionally operates its on-demand proprietary digital booking system across Singapore, Malaysia, the Philippines, Cambodia, Thailand and Indonesia.

Yugo has organised flights in Asia and Europe and is now looking to raise a Seed fundraising to increase digitalisation.

The company offers all-in exclusive package deals including private flights, stay-ins, special activities and in-flight customisation.

A privatised King Air Beechcraft from Textron Aviation, with eight seats costs US$3,000 per hour. The private aircraft can fly from Phnom Penh to Bangkok for US$10,000+ for eight passengers.

Its current international routes include, for instance, Kuala Lumpur to Dubai. Other popular routes are Jakarta to Dubai, Manila to Melbourne or Phnom Penh to Bangkok, Guangzhou, and Hong Kong.

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Image Credit: Beacon VC

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Growth-stage accelerator ScaleUp Malaysia, which is powered by Singapore’s Quest Ventures and Malaysia’s Indelible Ventures, has picked 20 companies for the third cohort. 

Each of the 20 firms will be on separate tracks and closely work with the VC firms. They will also receive group-based and 1-1 coaching sessions on elements such as building scalable products, financial modelling, crafting narratives, and go to market strategies.

At the end of the programme in January 2022, 10 companies will receive offers for investments of around US$60,000 (RM250,000) to continue their growth journey.

The selected companies hail from a diverse group of industries and verticals such as edutech, fintech, media, manufacturing, cyber security, foodtech and e-commerce, with average revenue of US$288,774 (RM1.2 million) in the last year.

Below are the details of the top 20 companies:

• SpareXHub provides an e-commerce marketplace for genuine auto spare parts.
• Biztech.Asia is a cross-media and marketing B2B platform that enables B2B marketing for clients via scheduled video and podcast content and networking and corporate gaming events.
• GuruInovatif is a platform that provides complete online resources for teachers’ professional development.
• Hav.Life is a platform that rewards steps to fitness.
• Howuku is an online platform that offers an all-in-one web optimisation and analytics solution to help companies visually understand their visitors and improve conversion rates.
• Aoikumo and KumoDent are SaaS providers for the beauty and medical aesthetics industry.
• Nanka produces plant-based meat from jackfruit, aiming to provide a better alternative to the highly processed fast food in the market.
• J8 Austism Athletics provides fitness services catered specifically to the neurodiverse community with the skill sets to socially assimilate, partake in family physical activities, and lead a healthier life.
• Jazro is a robotics education company that aims to develop digital talents in STEM education fields with specially curated content for students aged 5-17 years old.
• MADCash is a digital platform that tracks the impact of funding an interest-free microloan given to unbanked women micro-entrepreneurs.
• Midwest Composites serves as an engineered composites partner by designing and manufacturing advanced composites and biobased composites for customers that want to use futuristic materials in their products.
• Neptrix is a Saas provider for the manutech industry. It provides SMEs with ERP technology to convert them into smart factories that are more productive and cost-efficient.
• Open Academy is an education platform that provides real, non-theory based programmes, training, and content by industry practitioners.
• Pantang Plus is a web-based booking platform for traditional post-natal therapy. It serves pregnant mothers looking for therapists or confinement ladies. It considers itself the “Grab” for confinement services.
• Q3 Payment provides standardised connected payment solutions while working with preferred payment acquirers in the region for easy deployment and providing automated payment reconciliation reports and real-time visibility through their single pane of glass approach.
• Graze market aims to bridge the gap between food waste and hunger by ensuring imperfect fresh produce from farmers and distributors find a market at a discounted price to the public.
• Wego is the online marketplace for a broad range of services, including delivery and blue-collar services focusing on underserved towns in Malaysia.
• Traitily is a digital recruitment platform that leverages behavioural assessment for employers to filter a candidate’s fit to the job function.
• Vireserve is a managed service provider that focuses on cyber security and IT solutions. The platform can be used as a tool for freelancers and/or consultants to perform compliance consulting and act as lead generation to service providers.
• WA Sushi is an F&B e-commerce company building “quality food-made for delivery” focusing on quality Japanese cuisine.

Also read: Why Malaysia needs to be on the VC radar 

Launched in 2019, ScaleUp Malaysia has announced investments in 21 companies in the last 18 months, claiming to be one of the most active investors in the region.

According to a press release, the startups participating in ScaleUp Malaysia need to meet the requirement of a minimum previous 12-month revenue at US$72,400 (RM300,000).

The top 20 companies will undergo an intensive 4-month process to help identify and address gaps in their business models and strategies.

“We selected these companies based on their ability to develop solutions for the new normal and the founders’ capabilities to execute their business plans during the pandemic,” said Andre Sequerah, managing partner at ScaleUp Malaysia.

The programme claims its Cohort 3 attracted 200 applications not just from Malaysia but also from the US, Indonesia, Singapore, Japan and Egypt.

Besides the two VCs, ScaleUp Malaysia has also collaborated with the Malaysian Global Creativity and Innovation Centre (MaGIC) and Technology Park Malaysia to develop the nation’s startup ecosystem via a public-private partnership.

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Image Credit:  ScaleUp Malaysia

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Alpha JWC Ventures, a Southeast Asia-focused fund primarily supporting Indonesian startups, has closed an oversubscribed third fund at US$433 million.

Global and regional investors, including World Bank’s International Finance Corporation (IFC) and Morgan Stanley Alternative Investment Partners, invested in the fund.

Through Fund III, the VC firm is looking at a more extensive roster of investment opportunities in the region. “With this larger fund, we will be able to double down on our efforts in driving our mission to support our founders as they create scalable and sustainable companies in Indonesia and the region,” said co-founder and general partner Jefrey Joe.

Alpha JWC will increase its investment size to up to US$60 million in multi-stage funding with an emphasis on fintech, direct-to-consumer brands, SaaS and B2B services.

Also Read: Alpha JWC Ventures closes second fund at US$123M, claiming oversubscription

The third fund has already invested in seven companies in the fintech, SaaS, and SME solutions sectors in Indonesia, Singapore, and Vietnam.

While its primary focus remains Indonesian startups and founders, it has expanded its regional presence with investments in Singapore, Malaysia, Vietnam, Thailand, and the Philippines over the past five years.

Alpha JWC was launched in 2016 with a US$50 million fund, which invested in 23 early-stage companies in Southeast Asia. The second fund, closed at US$143 million in 2019, has backed 30 companies.

Its portfolio companies have collectively raised more than US$1 billion in 2021. This year, three of its companies became unicorns: buy-now-pay-later company Kredivo, automotive marketplace Carro, and online brokerage platform Ajaib.

The fund’s investees also include coffee chain Kopi Kenangan, B2B marketplace GudangAda, healthy consumer goods producer Lemonilo, and P2P platform Funding Societies.

The firm has generated nine exits so far, namely DealStreetAsia (acquired by Nikkei), regional co-working space network Spacemob (acquired by WeWork), and Vietnamese enterprise SaaS Base.vn (bought by FPT Corporation).

Alpha JWC currently has around US$630 million in assets under management (AUM) across its three funds. Of them, Fund III will double down on early and growth investments targeted towards Indonesia’s and Southeast Asia’s booming technology ecosystems.

Kim-See Lim, IFC regional director for East Asia and the Pacific said: “IFC’s partnership with Alpha JWC Ventures underscores our long-term commitment to Indonesia’s economic development and digital transformation. Alpha JWC’s focus on innovative technology-enabled businesses is key, as these investments help enable long-term development and have the power to transform lives.”

Erika Go, partner, Alpha JWC Ventures, said: With our portfolio companies, we have touched the lives of almost one million MSMEs through financial inclusion and market access and created more than 12,000 value-adding jobs. We have also empowered more than 200,000 women by creating opportunities to improve their family welfare, inspired more than one million new retail investors, and many more. And this is not the end but just the beginning of the journey.”

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Image Credit: Alpha JWC Ventures

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What does Airbnb, Lyft, Slack, Spotify, and Netflix have in common?

Apart from being some of the most recognisable names in global tech and startups, they are also built on AWS.

We’ve all heard of AWS. Amazon Web Services has interwoven itself into the history of today’s desirable tech companies, large corporations, and even notable organisations like NASA and some divisions of the United States and United Kingdom governments, by providing reliable, scalable, and inexpensive cloud computing services that have been foundational to these companies’ growth from their outset.

A case study on Games24x7, a games startup in India, showed that migrating their gaming system to the AWS cloud improved their ability to manage usage spikes by customers whilst retaining low latency, hence preserving user experience despite fluctuating data transmission. Another case study on Halodoc, an Indonesian medical technology startup, revealed that enhanced latency and customer experience owing to the AWS cloud resulted in better time-to-market by 30%.

Also read: ASEAN’s first smart shopping cart technology is transforming the offline shopping experience

As the world’s leading cloud computing service provider, AWS has the capacity and is positioned to provide startups not only with the infrastructure to build their business, but the resources to do it excellently.

“AWS has enabled us to achieve our goals, also reaching out to give advice when we are stuck. It’s been a fantastic collaboration so far,” said Abhilash Ramakrishna, Chief Technology Officer at Halodoc

Introducing AWS Activate — empowering the startups of today

AWS Activate is a free program designed to provide startups and entrepreneurs with the tools, resources, and guidance to help grow their business. 

Once startups become part of the AWS Activate program, they gain access to a wide gamut of AWS tools and resources to build, launch, and scale their business on the AWS Cloud, giving them a solid head start on their entrepreneurial journey.

The free program provides benefits in free AWS Activate credits, technical support and training, pre-built infrastructure templates that startups can utilise and experiment with, and access to exclusive offers.

Also read: AppWorks partners with e27 to help startups build investor network

In this partnership with e27, AWS offers startups of the e27 community who sign up for AWS Activate with:

• US$5,000 AWS credits valid for two years, to help you get started on building your business in the cloud without worrying additional costs
• One year AWS business support up to US$1,500
• Access to exclusive members-only offers
• Access to the Activate Console, which is full of tools and resources to help you quickly get started on AWS and grow your business

Get started on AWS today

Signing up for AWS Activate is free and easy. Simply create an AWS account (or log in to your AWS account if you already have one) and click here to apply for AWS Activate.

Select Activate Portfolio and make sure to enter 0rbhZ in the Organization ID field to authenticate your application and avail of the free credits.

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