How 30-year-old celeb CEO’s rule of fear led to a hot startup’s meltdown
Ankiti Bose’s management style alienated employees and undermined the business; She would publicly shame employees; Another described her as a narcissist who would throw anyone under the bus if it meant saving her own reputation.

SoftBank raises US$22B through sale of Alibaba stake
The Japanese firm has sold about one-third of its stake in Alibaba so far this year; A portion of the funds raised was put to SoftBank’s second Vision Fund, which struggled to attract outside investors.

Indian startup funding hits 21-month low in July at US$885M, less than half of June
This is also the first time in many months that fundraising in the country fell below the US$1B mark; Deal volume too saw a marginal drop of 6.3% to 119 in July from 127 in the previous month.

Singtel Innov8 gets US$100M more to back startups in SEA, US, China, Israel, Australia
The Singtel venture arm invests in startups operating in 5G, AI, digital economy, sustainability, cyber security and emerging technologies; It has invested in over 95 startups, including BitSight, Carro, Cato, FinAccel, and SenseTime.

Indonesia’s Zenius lays off employees again, almost all divisions hit
Zenius did not specify how many employees were affected in this round of layoffs. In its previous layoff last May, about 200 employees were affected – 20% of the 900-plus workforce at the time.

Wake up and smell the coffee: Check your coffee beans’ quality using ProfilePrint’s AI tool
ProfilePrint provides users with accessible, affordable, and portable solutions to ascertain and predict the quality and profile of a food ingredient at the point of use “within seconds”.

Collapse of 3AC, Celsius is attributable to opaque, off-chain holdings: Nansen
‘The transparency of the blockchain means that creditors can audit the holdings of any on-chain entity; however, data complexity and off-chain obfuscation make this ideal difficult to achieve’.

SG’s blockchain monitoring platform Merkle Science raises US$19M
Investors are BECO Capital, Darrow Holdings, GGV Capital, 500 Global; Merkle helps crypto firm, financial institutions, and government entities to detect, investigate and prevent illegal activities involving cryptocurrencies.

Zipmex opens up altcoin withdrawals after Babel, Celsius struggles
The crypto firm had also begun releasing unaffected digital assets from its Z Wallet on August 2, allowing withdrawals as per usual; On July 20, the company announced a withdrawal suspension.

Binance appoints co-founder and CMO Yi He as head of US$7.5B VC unit
He will replace Bill Qian, who left the firm earlier this year; In her new role, He will drive global strategy and oversee the day-to-day operations of Binance Labs.

Revolut launches crypto services in Singapore
It allows users to buy, hold, and sell more than 80 crypto tokens on its app; Revolut currently serves more than 20 million customers across the world and facilitates 250 million transactions every month.

China extends digital yuan loans to more cities
According to local reports, the Rural Commercial Bank of Zhangjiagang issued a digital yuan loan worth 500,000 yuan (US$73,997) to an unnamed business in Suzhou to fill the capital turnover gap.

East Ventures backs GREENS, which builds hyperlocal food ecosystem using AI, Web3
GREENS’s solution is a hyperlocal food ecosystem where people can consume high-nutrient meals grown and harvested on-site using 90 per cent less water, 70 per cent less land, and zero distance from farm to the meal.

Malaysian co-working space operator Commom Ground raises US$51.5M
Investors include Catcha Group and Emissary Capital; Common Ground operates 13 spaces in Malaysia, two in Thailand, and three in the Philippines; It is looking to expand into Singapore, Indonesia, and Vietnam.

KKDay pledges to drive US$100M for Vietnam’s travel industry
KKday said that its Vietnam business grew 20x amid the pandemic and exceeded pre-COVID-19 levels; The company predicts that there will be over 20M trips taken in and out of Vietnam by 2023.

Uber sells 7.8% stake in Zomato for US$392M
Last week, Zomato’s stock dropped 14.26% to an all-time low, a stark contrast to its IPO launch day; The firm’s market capitalization dipped to US$4.8B from its high of US$12.7B.

Indian B2B procurement platform Bizongo raises US$25M for SEA expansion
Lead backer is Tel Aviv-based Liquidity Group; India-based Bizongo offers digital vendor management, supply chain automation, and supply chain financing services.

TikTok officially sets up Shop in Singapore
The firm reportedly aims to set up shop in the US, France, Italy, Germany, and Spain sometime this year; TikTok Shop is already available in the UK, Indonesia, Malaysia, Vietnam, Thailand, and the Philippines.

How AlphaJWC Ventures built Indonesia’s largest early-stage fund
Alpha JWC Ventures believes that to create success, they must instil and build trust within their portfolio; Currently, Alpha JWC Ventures has a portfolio of around 70 companies representing USD 650 million in AUM.

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The post Ecosystem Roundup: SoftBank sells Alibaba stake worth US$22B, layoffs at Zenius again, Indian startup funding hits 21-month low in July appeared first on e27.

As more and more industries digitalise and consumers turn to online methods of transacting with businesses, cybersecurity becomes increasingly crucial. In Southeast Asia, issues of data breaches and attacks on digital industries like cryptocurrency and NFTs are a cause for alarm, especially at the rate and scale of digitalisation in the region. Owners of crypto assets need to be on their toes as any potential breaches in the market could lead to problems in the share prices of individual firms, apart from disrupting the global crypto market as a whole.

Digital users need to be careful with their online assets if they are to make any profit from them, and the answer to these issues is to ramp up their cybersecurity defences. This, of course, also applies to businesses that primarily engage in online assets working to avoid infiltrations and online attacks.

Also read: Optimising business solutions through customer-centricity

While the discussion of cybersecurity has been around even before the 2020s—considered an emerging issue in the mid to late 2010s, when the potential of digitalisation was making a global wave—few industry leaders have innovated towards the opportunity to provide more robust cybersecurity services to clients. Among these innovators is UKISS Technology, a Singapore-based startup that aims to make user-controlled crypto and data security easy for everyone.

What’s at stake for users

UKISS Tech CEO James Gan noted that with greater digital autonomy comes greater responsibilities. Digital users of the web at present need to keep track of and protect their assets, since no centralised institutions can help them retrieve forgotten passwords or lost assets.

This is where UKISS’ services come in handy. The cybersecurity company develops reliable, cutting-edge solutions that are easy for anyone to adopt with confidence. Its cutting-edge technology is highlighted in its UKISS Hugware® technology, designed to retain the confidentiality of users’ private keys and, at the same time, recover those keys should users lose their authentication device.

“The more people accumulate digital assets, the more they will need solutions to secure them. If you ask people today, I think 99.9% of them will say they have never used any cryptographic or encryption products. But that may change in the future, as NFTs, virtual land, and cryptocurrencies become commonplace,” explained Desmond Hsu, Chief Technology Officer (CTO) of UKISS

Hugware offers master seed synchronisation that doesn’t have to be translated into recovery phrases which are often exposed to human error, phishing, or theft. This makes it perfect for even new users dabbling in crypto for the first time.

Beyond Hugware, UKISS is developing an ecosystem of interconnected digital security services that ensure seamless and transparent protection. These include encryption, authentication, and authorisation. The decentralised security the business offers allow users to accelerate their self-sovereignty while ensuring high-level security of the private key. Presently, UKISS Technology’s Hugware has been patented in more than 20 territories across the United States, China, India, Singapore, and other parts of Southeast Asia.

Meet the UKISS team

Aboard the UKISS team is James Gan, its Chief Executive Officer (CEO), Desmond Hsu, its Chief Technology Officer, Ben Chan, Director, and Tan Ze Chong, Chief Strategy Officer. The business also comprises the company’s Board of Advisors from across the region.

Also read: Freshworks bolsters startups with cloud-based sales and support solutions

Gan and Hsu shared with e27 that UKISS found its beginnings when Hsu successfully re-engineered his hardware recovery technology to support both file encryption and cryptocurrencies. He developed the hardware recovery technology in 2010 when cloud platforms were gaining popularity, resulting in demand for file encryption among enterprises. In 2013, Hsu filed for a patent for the technology, until it grew into what it is today. 

Developing a sophisticated product of protection 

Among the issues that UKISS addresses in today’s increasingly digitalised landscape are the factor of human error. Gan tells e27 that in manually securing their assets, users tend to miswrite their phrases, lose their phrase sheets, or even worse, give up their phrases to scammers. In effect, they risk losing their crypto assets.

“Human error is still a threat to asset security, including those in the Web 3.0 community. One example is poor seed phrase management. These are passphrases that individuals use to secure their crypto assets,” explained Gan.

UKISS’ technology helps with this by taking the seed phrase out of the equation and providing a hardware-based recovery solution that is easier to manage. Hsu added that accessibility is also important, which is why UKISS has committed to tapping into a wider market of users than what is usually reached by most hardware crypto wallets out there.

What sets Hugware apart from other recovery services, is that those who already have digital assets can use Hugware for protection from hackers. If they forget their password or lose their device, they can reset or restore access with their backup, called the Rescue Key. This makes it a completely simple and user-friendly digital security device designed with its recovery procedure.

As for what’s next on the horizon for UKISS, Gan and Hsu let us in on a mobile-first strategy in place to expand Hugware’s functionalities that are currently in the works. Developing its decentralised ecosystem further will be a huge leap in helping users protect the security of their data and digital identities in the metaverse or on other decentralised platforms that may emerge in the future.

Also read: How AlphaJWC Ventures built Indonesia’s largest early-stage fund

“Asset security is the topmost priority among Web 3.0 users right now. Next, users may be concerned about the security of their data and digital identities in the metaverse or on other decentralised platforms that may emerge in the future. As security needs evolve, we hope that users can turn to the UKISS ecosystem for decentralised solutions,” shared Hsu.

“The crypto community is international, so we hope to grow our presence regionally and in other parts of the world, such as the United States and Europe. We already provide worldwide shipping for Hugware,” added Gan.

For more information, visit https://www.ukiss.io/.

To purchase Hugware, visit https://www.ukiss.io/hugware/. 

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This article is produced by the e27 team, sponsored by UKISS Technology

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.

The post Strengthening cybersecurity measures in the face of Web 3.0 appeared first on e27.

“Don’t compare yourself with others; compare yourself with who you were yesterday.” This quote perfectly expresses my mindset. 

My unfortunate happening, the accident

My name is Hariah binti Mohamad, from Simpang Renggam, Johor. Life is not always rosy and smooth-sailing. While I try not to compare myself with others, I used to suffer from low self-esteem. I am a single mother of seven children and a homemaker who was met with an accident in 2015. The accident occurred when I drove to my workplace, the pioneer factory in Tanjung Agas, Muar, around 6.30 am. 

Aside from the permanent impairment, the disability caused me to have a series of self-loathing thoughts, and worst of all, I thought I was unworthy. It never occurred to me that one day I could be financially independent, let alone contribute to my family.

I was at my lowest point in life, crying every day as I tried to regain my strength. The journey was extremely difficult. With my permanent disability, I had to relearn my daily routines.

It was as if you were a newborn trying to figure out things independently. I had to learn to cook on my while seated in my wheelchair. I have to take care of myself from the moment I open my eyes until I lie down in my bed to sleep without help.

After the accident, my medical bills worsened my family’s financial burdens. Racked with guilt and pain, I decided to step up and shoulder the burden of my family. I was upfront about my circumstances but did not have high expectations. My only hope is that I can make ends meet. Even as I began selling ice cream and drinks on the street, I was in emotional turmoil.

Due to my lack of confidence, approaching new customers was extremely difficult. As a result, my income was primarily dependent on passersby, which was limited. Since keeping drinks and ice cream cold in this tropical country can be costly, my business did not generate a stable and sustainable income.

In fact, there were times when I couldn’t tell how much I had earned because there were no records of transactions. When it came to running my business, I mostly went by ear.

The turning point, a learning opportunity

My livelihood at the time consisted of living from hand to mouth. It continued until one year later, as I was going about my daily routine, I got a call from an unknown number, and it was from a grassroots coordinator inviting me to join the Maybank Foundation’s Reach Independence & Sustainable Entrepreneurship (RISE) Programme.

Also Read: Underserved, not undeserving: Empowering female micro-entrepreneurs in Indonesia

This programme collaborates with Maybank Group’s corporate responsibility arm, Maybank Foundation, and social enterprise People Systems Consultancy (PSC).

RISE was a sponsored opportunity to empower people with disabilities to produce tangible, measurable and sustainable outcomes; I decided to give myself a chance to learn new skills.

This was the tipping point for my business and the end of my downfall. The Awareness and Change module illuminated the root cause of my failed business, a lack of a true purpose. Since I became more aware of my business objectives, I gradually regained my self-confidence and ability to identify problems and make effective changes to my business.

Advancing in  social media and financial management

One of the most important skills I have learned is utilising social media for publicity. The trainers have guided me through the process of setting up and implementing social media to promote my business over the years.

I was intrigued by the power of social media when they introduced me to the sales strategies module. I did not doubt that I knew very little about the digital world, but I was eager to learn. Thanks to the step-by-step digital training, I can now advertise my services and products on Facebook. Following that, I closed a few deals with vendors, and now I supply my products to several food stalls in Segamat. 

Moreover, I actively interact with my customers on Facebook and Whatsapp. Whenever my business is open and running,  I post pictures of my products on my social media page and hang my business banner in front of the kiosk to attract more customers. Among all the platforms and methods I’ve tried to promote my business, I’ve discovered that Facebook is one of the most effective ways to market my products.

Instead of aimlessly waiting for customers all day, I used my Customer Analysis module knowledge and skills. One exciting method I have learned is the Hot Button Method which made me know who my customers are.

Also Read: Financial literacy is a basic life skill. And this fintech startup is aiding millennials with it

I can now identify the right potential customers and approach them with confidence. My target demographic includes children and teenagers aged seven to 25. My kiosk is conveniently located near the beach to attract visitors of that age. In addition, I have added new flavours to appeal to the younger generation.

Not to mention, the financial management training has taught me the value of keeping my account organised. I have started budgeting and tracking my expenses since then. As a result, I could save enough money to buy a new generator for my business and pay the road tax. 

This was a pivotal moment for my business. After six months, I can confidently say that I have gradually regained my self-confidence, learned to identify problems and have the ability to improve my business. This comprehensive transformation has enabled me to earn RM2500 per month, four times the initial income I would never have dreamed of. 

The art of letting go of the past and striving for the future

I am currently relieved that I can contribute stably to my household income. I am hoping that my savings will be enough to help my children attend college in the future. Furthermore, I am also proud to say that I can afford to send my children to tuition classes.

My current goal is to open a homemade ice cream shop and experiment with new recipes like my own crispy fried bananas. While there is no such thing as happily ever after in life, I am happy with how everything is going.

I would highly suggest the RISE programme to other fellow people with disabilities. I do not want to keep this success secret to myself; instead, I want to share it with everyone who needs it. I hope that all PWDs will have the opportunity to participate in this programme and change their lives for the better once and for all. 

Please keep in mind that you are not alone. Many PWDs, including myself, have accepted their fate and stepped outside their comfort zone, and you can, too.

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The post How RISE boosted this business owner’s earnings 4x appeared first on e27.

In this episode, we are excited to welcome Nick Halla, former Senior Vice President of International for Impossible Foods, a company transforming the global food system through animal-free meat and dairy foods. As one of the company’s early employees, Halla served in several other roles, including as Chief Strategy Officer. Prior, Halla worked at Cogenra Solar also as an R&D Engineer for General Mills.

In our conversation, Halla shares the story that took him from working on a farm to the boardroom, giving insights into Impossible Foods’ localisation journey in different global markets, how to craft systems that can be deployed globally but modified locally with scalability in mind, how to leverage community cultures to gain traction in new markets and why you shouldn’t think of the launch of a new market as just a moment in time.

This episode is sponsored by our partner ZEDRA. Learn more about how the ZEDRA team can support you in expanding to new markets here.

Find our entire podcast episode library here and learn more about our forthcoming book on global business growth here.

Also Read: The future of food tech lies in building digitally autonomous restaurants

Interested in learning more about our book Global Class? Be the first to get a copy (coming out August 23), and get a ton of valuable free bonuses for pre-ordering. Learn more here.

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The content was first published by Global Class.

Image Credit: Global Class

The post From working on a family farm to driving growth for the world’s fastest growing foodtech company appeared first on e27.

Dave Shanley is a serial entrepreneur with experience in bootstrapping, raising venture capital, acquisitions, and growing product lines to more than US$25 million in B2B SaaS. He is currently the Founder/CEO of Content Camel, a Sales Enablement Tool for Sales Content Management. He was previously the Founder/CEO of Notion (acquired), the Founder/CTO of CrowdCompass (acquired).

What you will learn in this episode:
– What is the hardest lesson you learned becoming a technical founder of a company?
– What did you wish someone had told you before you started?
– What is the most important soft skill you have developed through all this?
– Why should you set expectations early?
– What are the most common pitfalls a technical founder experiences?
– How should a technical founder decide whether to learn how to be a CEO or hire a CEO and be the CTO?
– The most common thing in startups is the main founder is the CEO, but have you seen them run where the CTO is the main founder?
– How to deal with legal issues when you’re not the CEO?

Also Read: Governing your startup: What founders can learn from politics and vice versa

Talk with other entrepreneurs here.

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The content was first published by We Live To Build.

Image Credit: 123rf

The post Succeeding as a technical founder with Dave Shanley appeared first on e27.