Last year, 450 million Asia Pacific gamers aged under 18 loaded up numerous virtual worlds right under the noses of brand marketers. Youngsters can spend hours immersed in games. Why? Because they are a safe space for kids to experiment with their identity, practise their social skills and discover their potential and capabilities.

Yet despite its incredible popularity, gaming is still regarded as a niche form of entertainment, meaning marketers are missing out on a tremendous opportunity to reach APAC’s younger audiences. 

If marketers wish to reach a highly-engaged audience of under-18s, then games are the place to be. However, this unique digital-age group requires a re-think of marketers’ age-old strategies, as these will simply not work.

Instead, here are five simple strategies to ensure any gaming campaigns are on-target, effective and highly age-appropriate:

Understand the value exchange

It is important to understand that, for under-18s, the traditional value exchange has changed. Instead of the familiar transactional environment, the value exchange for youths is linked to the play experience, especially in digital worlds.

Young gamers are challenged constantly and have the creativity and liberty to decide how they want to look and be in the digital world. Brands have the chance to enter and be part of a highly personalised world where they can have both a more meaningful relationship with their target audience and one with greater utility.

Also Read: What does blockchain gaming need to succeed in the long haul?

Engagement methods can include interactive experiences that help players cultivate their identities or in-game purchases such as avatars or skins. However, one size does not fit all. With any under-18s advertising, marketers should have the courage to be playful too.

The golden rules of winning in-game

By 2022, you would expect marketers to have moved beyond the gamer stereotype of young, socially-awkward males. However, many still fail to recognise gaming as a multi-faceted and diverse medium. Like social media, television and print, marketers must apply the creative thought process of speaking to different audience groups.

Knowing these different audiences is the first step to winning the under-18s market. The next is to ensure any strategy is mobile-first. In 2022, smartphones will be a ubiquitous part of teenagers’ lives. 

Mobile provides scale and multiple means of entry for this digitally-engaged demographic. Understanding in-app advertising will also help brands integrate better with the overall ecosystem of gaming.

Once marketers have nailed their audience and the platform, then comes the content. Gaming provides an opportunity for creative experimentation that is inherently brand safe and fits with the play environment.

Encourage positive play

In-game advertising necessitates creating experiences that augment play positively, environments that are inclusive and engaging for all in that particular age category.

It should be noted, though, that APAC’s youngest generation leads the way into a digital and behavioural unknown. At a time of intense scrutiny over online data privacy, internet usage by under-18s now accounts for 40 per cent of all daily traffic. As always, where the eyeballs go, the brand safety risk follows, and naturally, this has become pertinent within the gaming ecosystem.

However, brands can create a safer gaming environment by encouraging positive play. This required adopting an unbiased marketing strategy that’s backed by science, and that’s audience-safe. Brands can take safety and make it a utility.

Marketers and their creative agencies have a responsibility to ensure that their assets are safe for and relevant to their young audience. Any missteps will tarnish a brand’s reputation both in the eyes of young consumers and their parents.

Amplify beyond the game

Today, gaming experiences exist far beyond the premise of the game itself. Instead, they reach deep into the lives of under-18s, with entire sub-cultures, fandoms and online communities dedicated to any particular game. 

Amplifying any marketing content should therefore consider the whole cycle of the gaming experience: in-game, around the game, and beyond the game.

Also Read: Exploring the creator economy in gaming

With in-game, brands are limited to animated gifs or in-game billboards, or occasionally, a sponsored game-within-a-game, as used by French developer Gameloft.

Around the game, meanwhile, marketers can leverage model avatars, virtual reality games and holographic concerts. When used successfully, these can be inspirational; they can show a world of endless possibilities that amplify a game’s endorphin rush.

Last but not least, there are brand experiences beyond the game. These can capitalise on gaming’s cultural force, as seen through online communities and real-world conventions.

In addition, as eSports becomes a cultural force of its own, brands can become part of tournaments, leagues and teams, some of which carry multi-million-dollar sponsorship deals.

Fans of eSports can include players, viewers, live streamers and even people who follow its stars on social media. ESports titles have communities and different platforms they engage in. For brands, this means activating a campaign based on each niche community and integrating wisely.

Capture the metaverse

Despite assumptions that it is little more than a fad, the metaverse will be game-changing for advertisers. In 2021, venture capital investment in the metaverse reached US$40-60 billion. So far, in 2022, it’s already at US$120 billion, and by 2030 is expected to hit US$5 trillion. 

Although the metaverse is still being defined, both literally and figuratively, it could soon impact everything from employee engagement, customer experience, omnichannel sales and marketing, product innovation and community-building. APAC is expected to be the fastest-growing region in the metaverse market, while three-quarters of young Singaporeans are interested in a virtual 3D space.

The metaverse is the next frontier to be captured. Marketers willing to cross this frontier must dream big and apply the same ethos of adopting an unbiased approach backed by science.

They must align their brand with the right game, entertainment and social community while investing in activation and amplification beyond sponsorship.

And finally, they must be prepared to test and learn within the community and understand what value the brand can bring. Most crucially of all, marketers must be committed to safe, community-first experiences where their authentic selves are always at play.

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Fazz, a digital financial services group dual-headquartered in Singapore and Indonesia, has announced a US$100 million Series C funding round.

The round comprises US$75 million equity and a US$25 million debt facility.

The equity investors are Tiger Global, DST Investment, B Capital, Insignia Ventures Partners, and ACE & Company. llham Ltd (which is associated with EDBI), InterVest, Michael Seibel (Managing Director of Y Combinator), and Hans Tung (Managing Partner of GGV Capital) also participated.

The debt facility came from Lendable.

Fazz will use the funds to grow the business and expand its teams in Singapore, Indonesia, Malaysia, Vietnam and Taiwan from 800 to 1,400.

Also Read: Payfazz invests US$30M into Xfers; join hands to form Fazz Financial Group

Fazz (earlier known as Fazz Financial Group and founded in 2016) was launched following a merger between PayFazz and Xfers, two Y Combinator alumni based in Southeast Asia. Its mission is to enable financial access for every business in Southeast Asia, where many MSMEs and the population are still underserved.

The firm offers Fazz Agen, an agent-based financial application serving micro and small businesses in Indonesia. Fazz Business is a business account to help startups, MSMEs, and large corporations build, run, and grow their businesses across Southeast Asia by providing the ability to pay and receive payments, grow capital, and get funding.

Its Modal Rakyat is a P2P lending and borrowing service for MSMEs, while StraitsX offers payment infrastructure for digital assets.

Fazz claims it saw US$10 billion in annualised transaction volumes over the past year. It is looking to double its transaction volumes in the next 12 months.

“Many businesses in Southeast Asia are still underserved, and some have been heavily affected by the pandemic. Fazz is stepping in to help them recover and grow back stronger. We invest a lot in the tech side of our business to ensure that any business, from small family shops to big enterprises, can access financial tools to build their business.

More importantly, we want to provide the same benefits that big companies have to small businesses and warung owners. This round of funding will enable us to build this technology edge for our users,” said CEO Hendra Kwik.

Also Read: How blockchain-powered fintech services can improve financial inclusion

Lack of access to equitable technology tools and bank financing are key challenges for MSMEs in Southeast Asia, with the funding gap currently reaching US$300 billion.

The changing business environment during the pandemic has placed MSMEs at an even bigger disadvantage due to the lack of access to funding, technology and network.

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From articles highlighting the region’s growing startups and the latest news and activities in the community to insightful articles shared by hundreds of our community members, the e27 platform has provided open access to content that brought visibility and connection to startups, funds, and other key players in the tech ecosystem.

Apart from the content that is freely accessed by thousands of readers monthly, our growing community of e27 Pro members also benefits from our member-exclusive content; the Ecosystem Roundup is our twice-weekly rundown of news items curated from over 150 sources that include general tech media and hyperlocal channels, with the aim of helping our members cut through the noise and focus on relevant news that helps them make informed business decisions. 

The Ecosystem Roundup started as a way for us to help our members focus on information that is relevant to their decision-making. Making informed business decisions is crucial to the survival and growth of companies – more so now as we face economic challenges.

Also read: Better browsing experience begins at home(page)

Aligned with that, you can now access the Ecosystem Roundup and other e27 Pro premium content through an e27 Pro plan that may be more relevant to your current needs.

Expanding e27 Pro Memberships

The e27 Pro membership has grown significantly in the last two years, with thousands of startups becoming members and making 15,000+ startup-investor connections via Pro Connect. 

But with the e27 Pro Connect primarily focused on connecting startups with investors for fundraising,  mentorship, and network-building,  among others, how about the startups who do not have these goals in mind but would like to access insightful content that is part of the e27 Pro Connect membership?

Enter e27 Pro Content.

The e27 Pro Content is a new membership plan that lets you access premium content that was previously only available to e27 Pro Connect members.

This membership plan will include our twice-weekly Ecosystem Roundup, Editor’s Special, Contributor’s Special, and Meet the VC series. Included in this is access to seasonal series of articles produced by the e27 editorial team that reflects the current state of the ecosystem and where is it going.

Since the beginning of this quarter, as an example, the editorial team has been producing deep dives with select investors in the region to provide insights and knowledge about the current state of the ecosystem. The series aims to help more entrepreneurs and ecosystem stakeholders adapt and thrive in this challenging environment.

This array of curated content will be regularly published and is going to be available to members with Pro Content subscriptions. 

For startups, investors, and others who wish to build their networks with startups on e27, the e27 Pro Content membership also includes access to Startup Connect.

Get it for 50 per cent off today

For the US$9.90 monthly, the e27 Pro Content gives you access to all e27 Pro premium content and Startup Connect.

You can avail of a 50 per cent discount for your first month on the e27 Pro Content membership if you sign up today until 31 December 2022. 

Got questions? We’re happy to provide you with answers. Drop us a message here.

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Connect for free today.

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Cybercriminals appear to no longer distinguish between big businesses and fledgling startups. Based on recent events, everyone is now a potential target, which means that a multi-layered approach to cybersecurity should no longer be an afterthought. 

The 2022 Global Threat Report by CrowdStrike Intelligence records an 82 per cent increase in ransomware-related data leaks in 2021, with 2,686 attacks in December, up from 1,474 in 2020.

Here in Southeast Asia, our home base, the Philippines, has recorded the highest number of phishing attacks, with nearly seven out of 10 targeting finance-related transactions. A separate study suggests that cybersecurity crime can severely impact the Philippine economy by as much as 1.1 per cent of total GDP, which would be approximately US $3.5 billion.

But other SEA economies can’t breathe a sigh of relief either, as they are equally in danger. One AV company found that Indonesia saw a 65.90 per cent increase in phishing attempts, followed by Singapore with 55.67 per cent, Thailand with 55.63 per cent, Malaysia with 50.58 per cent, and Vietnam with 36.12 per cent.

The outlook doesn’t look too bright with the quantum of ransomware and social engineering attacks set to escalate drastically.

Increased demand for cybersecurity innovation

Cybercriminals are striking with increasing frequency and audacity at companies of all sizes, targeting numerous individuals, too. With cybercrime becoming more organised and rampant, the trickle-down effect is declining trust in companies and systems. 

Also Read: Strengthening cybersecurity measures in the face of Web 3.0

With the increasing numbers of companies focused on seizing bigger opportunities in cloud and mobile computing, they also assume risks in varied measures. The key risks include significant financial loss, plummeting customer satisfaction and market reputation and severe job loss across disciplines. There are also direct financial losses associated with the crime like loss of productivity, fines, and remedial action.

It can’t be underlined enough that cybersecurity must become a strategic business priority, a board-level issue for organisations. It is vital that businesses become proactive when it comes to cybersecurity instead of just reacting to security breaches.

Experts believe that cybersecurity should never be an afterthought but should be integrated into its growth strategy at the very earliest. Another key recommendation in combating cyber threats is investing in training and developing a pipeline of cybersecurity professionals. Cybersecurity awareness has to be part of the company’s DNA across all levels in an organisation.

A multi-layered approach to cybersecurity

With cybersecurity costing companies millions of dollars, it is vital that companies adopt multi-layered cyber protection. This is particularly important as cybercrime can occur from within and outside the organisation, with employees being a major cause of security breaches.

For instance, while remote and hybrid work offered business continuity amid a global health crisis, numerous endpoints and devices became more vulnerable to attack. 

It’s a harsh reality, but today’s cybercrime masterminds have both the expertise and technical capabilities that are on par with their cybersecurity counterparts. In this precarious scenario, organisations should gauge the gravity of the situation and implement immediate and resilient cybersecurity measures. 

Artificial intelligence and machine learning

These extremely versatile technologies have proven prowess in detecting and arresting various types of cyberattacks efficiently. Kickstart Ventures recently invested US$3M in SlashNext, a computer and network security company specialising in cybersecurity, cyberattack detection, and IT solutions.

Its database, AI and ML algorithms can scan and detect zero-hour phishing threats across multiple endpoints in real-time, with six times better phishing threat detection and three times greater spear phishing detection.

Also Read: How can lean startups build a resilient cybersecurity posture

These two technologies are powerful weapons that can be used to pre-empt cyberattacks, as they are programmed to look for anomalies. AI can augment the two-factor authentication and be further deployed to rapidly check additional layers of genuineness. Machine learning can be used to quickly analyse vast amounts of data to identify different types of cyber threats and fraud.

Behavioural analytics

Data can be mined for behaviour analysis, which helps identify patterns and activities to detect potential and real-time cyber threats. An abnormal increase in data transmission from a user device could signal a cyberattack. Behaviour analytics is increasingly being tapped for developing better cybersecurity technologies.  

Embedded hardware authentication

Embedded authenticators are emerging technologies to verify a user’s identity. Powerful user authentication chips are embedded into hardware and are designed to revolutionise “authentication security”. These chips employ multiple levels and methods of authentication working in tandem.

Blockchain cybersecurity

Working on the basis of identification between the two transaction parties, blockchain is fast gaining ground and recognition. Every member of a blockchain is responsible for verifying the authenticity of the data added. Moreover, blockchains create a near-impenetrable network for hackers and are perfect for safeguarding data from getting compromised. So, the use of blockchain, coupled with AI, can establish a robust verification system to eliminate cyber threats.

Zero-trust model

This model works on the assumption that a network is already compromised. Believing that one cannot trust the network, both internal and external securities are scaled up. It includes identifying business-critical data, mapping the flow of this data, logical and physical segmentation, and control enforcement through automation and constant monitoring.

A strategic priority

Cybersecurity is a critical component for ensuring the unimpeded growth of any company. Organisations across disciplines and sizes must treat cybersecurity as an essential strategic priority. Thankfully, while threats continue to evolve, so do the means to deter their potential damage to any organisation’s data, reputation, and growth.

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Globally, transportation accounts for about 24 per cent of the global CO2 emissions, which is expected to reach 27 per cent by 2050 as fossil fuel use continues. Aeroplane emissions are rising rapidly, which increased by 32 per cent between 2013 and 2018. 

While electric vehicles (EVs) are gradually replacing fossil fuel-powered vehicles in the land transportation sector, the aviation industry has not made much headway on this front. Solar-powered planes are also being tested — a long-haul solar-powered flight (Solar Impulse 2) was tested in 2016 — but it doesn’t appear to have made much progress either.

All this means chances of decarbonising aviation are remote. 

What can we do to reduce CO2 emissions in the aviation sector, then?

This Singaporean entrepreneur has an answer. 

“We wanted to find alternatives that could help reduce flight emissions,” says Jonathan Yeo, Co-Founder and CEO of FlyORO, a provider of last-mile sustainable aviation fuels (SAF) blending technologies. “And it has to start today.”

FlyORO was founded in Singapore by Yeo, Joe Ng (CTO), and Genevieve Toh (CMO)  — all avid travellers. 

Yeo is a chemical engineer with a track record in developing energy and chemical businesses. Ng has previously led high-profile global supply chain, engineering, plant construction, expansion and production, and industrial automation projects across oil majors. Toh has a business management background and experience in banking and finance at JP Morgan & HSBC.

Tackling a Barrier to Flying Green

According to the startup, it is tackling one of the barriers to flying green by providing last-mile sustainable aviation fuel (SAF) blending and distribution directly at airports. The bespoke modular biofuel blending technology can be integrated with existing airport infrastructure so that airports can provide SAF blends readily to airlines.

“SAF is the most viable alternative to conventional jet fuel, but our supply chain model has to be better integrated to support an efficient distribution of SAF. We are on a mission to enable the accessibility and availability of SAF to airports anywhere,” Yeo tells e27.

Also Read: The Capture app enables you to track, reduce and offset carbon emissions from everyday life

SAF is a synergistic blend of conventional jet fuel and biofuel. Biofuel, derived from biomass-based feedstock like animal waste and algae, is a lower-carbon aviation fuel alternative. 

“We partner with airports by deploying our modular assets for easy tie-in with existing fuel storage tanks. We convert existing airports into SAF-friendly at zero CAPEX. We also partner with fuel service operators to provide airlines with a seamless operational process of into-plane services,” Yeo boasts. 

Flights are allowed to fly with up to a maximum of 50 per cent blend, reducing lifecycle carbon emissions by up to 80 per cent in neat form. “The SAF industry builds upon a holistic ecosystem, meaning a rigorous relationship between all stakeholders is necessary. FlyORO liaises directly with fixed base operators (FBOs), which are involved in the final distribution of the blended SAF,” Yeo shares.

(FBO is an organisation granted the right by an airport to operate at the airport and provide aeronautical services, such as fueling, hangaring, tie-down and parking, aircraft rental, aircraft maintenance, and flight instruction)

FlyORO has raised SGD500,000 (US$354,000) from unnamed angels for its innovative solution.

Getting an Entry into Aviation

Aviation is a highly capital-intensive and regulated industry. The founders of FlyORO realised early on that entering this sector was hard. So they kickstarted their projects with companies in the oil sector.

“Oil companies have ambitions towards cleaner fuels in the energy transition. Based on this, we started working with them to understand more about the massive carbon polluters, including aviation fuel emissions,” Yeo reveals. 

This experience helped FlyORO understand the aviation sector and its requirements better and get an entry into the sector.

Yeo acknowledges that biofuels and other lower-carbon alternative fuels are already available for the aviation industry. SAF is blended in different types and ratios due to varying airline commitment, processing technology and market legislations. Adding to this complexity, SAF is currently processed at refineries of fixed geographies depending on the origin, requiring additional logistics cost, time and carbon footprint. This makes it costly, less accessible, and available only to a few airports.

“So, blending products with existing ATF is a more commercially acceptable solution. Then again, supply chain and distribution are a challenge. We fulfil the role as a last-mile blending provider for SAF and are in a unique position to accelerate the offtake of SAF blends to airlines,” he shares.

A key metric in airline operations is a fast turnaround and refuel time. The company claims it enables this with rapid order-to-fulfilment, with on-demand blending, certification and distribution within a 20 minutes window without disrupting the existing into-plane services for airlines.

Also Read: Why the Carbon tax is just a step forward and not a solution

As FlyORO grew, its aviation fuel partners connected it with more airports and airlines. FlyORO has so far received interest from 11 airlines and 16 airports and is currently working on three active projects in Singapore, the US and Europe.

It also has partnerships with the International Air Transport Association (IATA), International Civil Aviation Organization (ICAO), Joint Inspection Group (JIG), and Defence Standard (DefStan).“We are working with these groups to align our solution with current regulations and participate in active discussion for future changes in supply chain operation standards,” Yeo says.

FlyORO charges a blending fee of US$0.03-0.10 per litre.

According to Yeo, the market opportunities for FlyORO are enormous. The jet fuel blending segment itself is US$250 million, and it has barely scratched the surface.

But the startup has to tackle some challenges to scale up and grow. “Since we are an innovator, there is bound to be some resistance to change, which means a longer lead time to conversion. It took months for us to sell our story and could reach the right stakeholder only after four months of the discovery process.”

How long would it take for FlyORO to sell its stories to more flight operators and fly high? Its ability to create awareness and convince more stakeholders is the answer.

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The number of smartphone subscriptions worldwide now stands at more than six and a half billion. This figure is expected to increase by hundreds of millions in the next few years, according to Statista. I find this figure staggering and a massive overall percentage if we consider that the world’s population is approaching eight billion people.

Southeast Asia has over 400 million internet users, with the penetration rate at over 70 per cent in all countries in the region apart from Laos, Myanmar, and Timor-Leste. The number of smartphone users in Southeast Asia will reach 326.3 million in 2022 and will increase at a steady rate until the year 2026.

The unparalleled rise

The vast majority of these (almost nine out of ten) internet users in the region will use smartphones in 2022. Therefore, brands that have moved or are moving from offline to online have consumers in the palm of their hands, as geographical boundaries between customers and brands simply no longer exist.

Any user with internet access can now engage directly and in real-time with a brand through live streaming via its social media platforms or website.

I certainly think it’s true that such simple daily access to different and innovative technologies makes adopting them a foregone conclusion. Access to brands is now much more seamless, making the customer experience straightforward and more enjoyable.

In addition, live streaming allows brands to create entertaining, memorable, and meaningful content with the bonus of instant access and engagement for online users. It also helps a brand to look more honest and trustworthy in its customer’s eyes as it’s fully live.

Consumer data is key to building client profiles to detect a pattern of spending behaviour. If a consumer is inclined towards a particular price point or product, a brand’s marketing team can more easily target this individual with personalised messages as part of its marketing strategy.

Also Read: The rise of live commerce in Asia and adoption of BeLive by retailers

This is especially valuable if a brand is launching a new product to the market via live streaming. Customers who have shown prior loyalty to the brand have instant access to the new product and can also ask questions and have them answered to their satisfaction. This gives a new meaning to the term ‘first in line’.

If we look at live streaming e-commerce when compared to ‘traditional’ e-commerce, the two keywords that spring to mind are immediacy and interactivity. Live streaming is a valuable technology because it has the capacity to offer immediate feedback to questions posed by a consumer.

Interactive technologies such as surveys, trivia games, and polling allow brands to interact with consumers through a live stream with a possible added incentive of prizes for participants. These added layers expand the consumer experience, as they can be fun, relaxed, and informative. The interaction is therefore more memorable. This would not be possible through a traditional e-commerce store. 

E-commerce revolutionised

E-commerce has undoubtedly revolutionised the retail industry, particularly during the pandemic, as millions of people were confined indoors during lockdown periods. Live streaming technology allowed this to happen as consumers looked for ways to shop without leaving the comfort of their homes.

This was particularly the case for more introverted shoppers as no physical, social interaction, intimidating large crowds or sales assistants formed part of the process. The availability of various payment options also helped a boom in online sales.

Affordable prices and shipping costs, ease of search, and convenience all made shopping for brands online an attractive proposition. COVID-19 has proven a desire for live streaming solutions among people working remotely with companies investing more than ever in online platforms. 

E-commerce was one of five specified sectors (the others being financial services, online travel, online media & transport and food) in a 2021 report by Google, Temasek, and Bain & Company on Southeast Asia’s ‘economy’.

This highlighted that the region is on its way to becoming a $US 1 trillion digital economy by the decade’s end. Southeast Asia’s e-commerce market GMV is projected to reach US$142.70 billion in 2022. This is expected to exhibit a Compound Annual Growth Rate (CAGR) of 15.08 per cent in the next three years, meaning a projected market value of US$217.50 billion by 2025.

With the growth of e-commerce as an industry at such significantly high levels, several government bodies have begun to regulate laws and regulations to elevate e-commerce business. They have provided the right conditions to allow this to happen.

Also Read: Why live commerce is here to stay in Asia

A cross-border e-commerce initiative was launched in June 2022 by the Vietnam E-commerce and Digital Economy Agency under the Ministry of Industry and Trade. It intends to help the country to nurture an e-commerce workforce over the next five years to allow more export opportunities for local enterprises. 

Retention is the new acquisition

An appropriate industry saying for 2022 could be ‘Retention is the new acquisition’. Brands are finding it challenging to retain consumers in an era where access to virtually every possible brand is as convenient as clicking a button. The strategy of building a brand community then becomes key.

Through this, interaction and constant engagement to build loyalty become a de-facto strategy for many brands. The personification of a brand can also be amplified with content that is authentic as well as highly visual through the use of live streaming technology. 

Live streaming commerce is still in its relatively early stages. I would be confident that the technology behind it will continue to evolve while being successfully adopted by brands globally. It currently can collect key information about customers in real-time.

This dictates the kind of messaging the brand should get across during a live stream. This could be in the form of the type of product on offer, price, or what specifically needs to be shown to convert a casual ‘viewer’ into a ‘paying customer’.

I can undoubtedly see Augmented Reality (AR) and Virtual Reality (VR) technology having a strong influence on the sector. A potential customer having the ability to virtually ‘try on’ a product during live streaming is undoubtedly something we will witness in the near future.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

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

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Fazz secures US$100M Series C to grow its lending services, expand team in SEA
The investors include Tiger Global, DST Investment, B Capital, Insignia, and Lendable; Fazz claims it saw US$10B in annualised transaction volumes over the past year and looks to double the volumes in the next 12 months.

Vietnamese proptech startup Propzy to shut down
In an internal email, co-founder and CEO John Le said that the company’s efforts to grow the business amid the pandemic resulted in significant losses that it could not recover due to continued lockdowns in Vietnam.

AC Ventures reaches first close of US$250M fund
The fund raised 65% of its capital target, but it has already invested in five startups; These include SkorLife’s US$2.2M round, Ideal’s US$3.8M fundraise, and Atma’s US$5M deal.

Sea to forgo leadership salaries amid cash flow struggles
This comes after Sea ended operations in four Latin American markets and trimmed staff across its divisions; The Singapore-based company has lost nearly US$170B in market value since peaking in October.

TikTok Shop has set SEA on fire within months
The short-video giant has moved quickly and aggressively in the region to roll out new features, offer incentives, and seal new partnerships with e-commerce enablers and logistics partners.

SG digibank Trust hits 100K customers within 2 weeks of launch
Backed by a partnership between Standard Chartered Bank and Fairprice Group, Trust offers a range of products and services, including credit cards, savings accounts, and family personal accident insurance.

Taiwan’s TNL Media acquires recipe-sharing social platform iCook
TNL Media looks to grow its readership, launch new products, and expand the group’s paid subscription business; With 7M monthly unique visitors, the integration with iCook will bring TNL’s total readership to 25M MUV and 100M monthly views.

Sequoia Surge backs US$14.3M series A of Vietnam’s Virtual Internships
The firm offers access to digital internships for individuals pursuing higher education across 100 countries; It also trains students before and during their work experiences.

Glife Technologies raises US$3M Series A+ from Tin Men Capital
Glife aggregates demand for food produce from restaurants and match it with suppliers; Glife will use the fresh funds to accelerate the launch and operations of its digital marketplace for F&B suppliers and merchants in Q42022.

Hybrid work technology startup FlexOS secures US$1M
The investors include Do Ventures, VIK Partners, Vulpes Ventures, Hustle Fund, and Play Ventures; FlexOS offers gamified office check-ins, desk and meeting room bookings, and up to 10 monthly events and activities tailored to employees’ unique interests.

Indonesian kids food startup Grouu raises funding
The investors include Teja Ventures, Arkana Ventures, and Javas Capital; Grouu delivers meals to users’ houses every day; It offers meals for kids between one to 10 years old; It has also added non-MSG options to its menu.

Web3

Arrest looms for Terraform Labs founder as Seoul court issues warrant
A court in Seoul issued a warrant against Do Kwon and five other individuals for violating South Korea’s capital markets laws; The warrant comes after the Terra crashed in May, resulting in global losses of over US$40B.

Indonesian crypto exchange Reku bags US$11M funding
The investors include AC Ventures, Coinbase Ventures, and Skystar Capital; Last year, crypto transactions in Indonesia reached US$60B, with Reku processing US$3B of the total amount.

Cake DeFi launches global research hub in Singapore
Called Birthday Research, the centre will focus on developing blockchain and digital-asset technologies; Cake DeFi has committed to investing US$50M into R&D over the next four years.

Blockchain data firm Thirdwave launches with US$7M raise
The investors include Framework Ventures, Animoca Brands, Play Ventures, and Shima Capital; Thirdwave provides Web3 companies, projects, protocols, and DAOs with blockchain data.

Multi-chain DeFi services platform Krystal raises US$6.6M led by Hashed
Krystal will add more blockchains and improve access to passive income by allowing users to securely do staking, manage liquidity pools, and yield farming.

IDG Capital Vietnam invests in blockchain firm Metain
Metain is a blockchain-empowered co-investment platform focusing on real estate; It makes investing in income-producing assets affordable, convenient, safe, and transparent for middle-income customers.

Sender nets US$4.5M led by Pantera Capital to expand its crypto wallet ecosystem
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In the shadow of Singapore’s standing as 12th in the World Index of Health Care Innovation, pet healthcare remains a backwater. Despite a significant uptick in pet ownership in Singapore in recent times, pet owners’ knowledge of pet healthcare remains quite inadequate.

A local survey of more than 1,000 cat and dog owners showed that the concern that almost every owner had was chronic health issues with their pets. However, despite such a concern, “more than two-thirds of pet owners had little or no knowledge of key health issues such as parasite infestation, chronic kidney disease and heart disease that might affect their cats and dogs”.

When they did try to seek out information on their pets’ health, 35 per cent turned to the internet, while 26 per cent looked at YouTube and TikTok videos instead of turning to the real expert: a veterinarian!  

So, what is driving this phenomenon? And can technology provide some solutions? We explore these questions in this article.

An ounce of prevention is worth a pound of cure

As the old saying goes, ‘an ounce of prevention is worth a pound of cure’. This wisdom directly relates to the health care of our pets.

Let’s focus on dogs as an example. People often say that one year of a dog’s life equates to seven human years, but this is an oversimplification. The truth is, one calendar year for a dog may equal up to 15 human years, depending on the breed. Since dogs age faster than humans, they should see their doctor more often than we see ours. If they only visit their vet once a year, that is akin to us getting a general check-up every four-five years!

Dogs (even when healthy) should be examined by a veterinarian, preferably twice a year. As your dog ages, more frequent visits may be necessary as the rapid ageing process of dogs makes preventive healthcare even more important.

Also Read: Singapore’s MyPetGo wants to be the Apple of pet care technology

Hence, it is concerning to see that in the same survey, nearly 40 per cent of pet owners either prefer to self-diagnose based on internet research, delay vet visits until symptoms worsen or worse of all, not take their pets to a veterinarian at all. This can often aggravate health issues due to misinformation.

Addressing the problems

A big driver of the lack of veterinary visits is the existence of several pain points faced by traditional veterinary care providers, which in turn lead to pain points for pet owners seeking veterinary care. The corresponding spike in patient volumes at veterinary practices that have come with the rise in pet ownership in recent years has caused many clinics to be fully booked and oftentimes overwhelmed.

This is made worse by the shortage of labour in the industry. Consequently, veterinary practices find themselves having to turn down clinic appointments and being unable to provide after-hours care.

Serious lapses in care have also occurred, unfortunately. For pet parents, this means they often have to grapple with difficulty with getting an appointment, long waiting times and limited 24-hour and emergency vet services.

Even if they can get an appointment, they often have to deal with the lack of pet-friendly travel options, not to mention the stress of travelling to and being at the clinic for their pets are subjected to. All these pain points discourage pet parents from taking their pet to see the veterinarian as regularly as they should.

An all-in-one digital solution

Now, imagine an all-in-one digital platform where veterinarians can connect with their clients and patients online anytime, anywhere, enabling them to extend care beyond the physical limitations of their clinics. Moreover, if telemedicine is unsuitable for a pet’s condition, they can refer the case to a clinic for a physical examination.

They can also digitally issue and deliver prescriptions to pet parents (instead of having unnecessary human traffic in their practice from medication top-ups). Veterinary practices can receive and organise physical appointment requests online, which, aside from offering pet parents a lot of conveniences, eases the administrative burden on their staff.

Taken together, the platform enables them to handle a large volume of cases digitally rather than having every single case – big or small – come into the clinic. This allows clinics to focus on complex cases in person, which undoubtedly maximises their in-clinic capacity.

Most importantly, such a platform enables veterinarians to be the first responder and advise on the best course of action whenever pet owners face a health situation with their pets. No more having to turn down appointments and say hello to round-the-clock veterinary care! 

For pet parents, instead of having trouble accessing expert advice and turning to the internet for the wrong answers, they can now simply consult a veterinarian online anytime, anywhere. When their pets’ condition is unsuitable for telemedicine, they are seamlessly referred to a clinic for a physical consultation. They can also book an appointment online for an in-clinic consultation directly (instead of the archaic way of calling the clinic).

Also Read: What telemedicine and Health Tech holds across SEA amidst COVID-19

Following each consultation, they are issued digital prescriptions for their pets and simply get them filled and delivered via the platform (no more trips to the veterinary clinic just to top up long-term medications, too!).

Last but not least, owners can now store and update electronic health records of their pets in a single complete digital platform (versus receiving a loose copy of the medical report for each veterinary visit). All-in-all, this eliminates all the hassle of seeing a vet the traditional way.

Such convenience should encourage pet parents to practise preventive healthcare by increasing the frequency of check-ups for their pets, boosting their chances of survival when illnesses are diagnosed early on. 

Telemedicine has been commonly practised in healthcare for humans, but adopting such technology for pets is still relatively new. As with human telemedicine, telemedicine for pets is not intended to replace physical in-clinic care but rather complement it by providing on-demand access to veterinary care for pets with non-emergency conditions such as minor concerns, surgical reviews, palliative care or behavioural changes, etc.

However, amazing as it is, telemedicine as a standalone service is inadequate as access to in-clinic care is important when telemedicine is insufficient for a pet’s condition. More importantly, when there is a need for any teleconsultation to be referred to a vet clinic, there must be continuity of care such that the in-clinic veterinarian receiving the referral can access beforehand the medical history of the patient and be prepared to provide the necessary diagnostic or treatment plan. Thus, this requires a centralised digital depository of pets’ medical records. 

As both pet parents and veterinary medicine providers, all the considerations set out above were of utmost priority when we were developing Pawlyclinic, a complete pet healthcare platform that comprises two portals: the Owner Portal and the Vet Portal, in a unified ecosystem.

The motivation to start Pawlyclinic was crystallised after seeing first-hand the pain points for both pet parents and veterinary care providers in the traditional veterinary practice. We believe technology and innovation can systematically address these pain points and make veterinary care omnipresent, simple and efficient for all pet parents. 

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SerMorpheus, an Indonesia-based Web3 brand-retailer enabler, has announced the completion of a US$2.5 million seed round of financing led by Intudo Ventures.

500 Global, Febe Ventures, AlphaLab Capital, BRI Ventures, and Caballeros Capital also participated.

The company will use the funds to build infrastructure to bridge the gap between Web3 and Indonesian brands and consumers. It will also expand the team.

Also Read: Where is the future of NFTs and metaverse heading towards?

Launched in January 2022 by Kenneth Tali and Budi Sukmana, SerMorpheus is a Web3 enablement platform. It empowers brands and creators to develop NFTs and manage utilities that allow them to engage directly with customers and communities, unlocking brand value through ultra-personalised shopping experiences.

Through its online-to-offline bridge, NFT holders can earn real-life benefits at events held by brands and retailers and claim/mint branded NFTs in real-life through offline activities, such as concerts, movies, and branded events.

The company works directly with Indonesian and global businesses, brands and creators to develop NFT products and features to improve community engagement and unlock utility.

For users, SerMorpheus eliminates onboarding friction by directly connecting with global NFT marketplaces on their behalf and allowing transactions to be made in Indonesian currency (IDR) with just an email address and phone number, simplifying the process of entering the new digital economy.

The brands using SerMorpheus include Indonesia Comic Con, professional football club PERSITA Tangerang, Jogjarockarta music festival, Indonesian actress and singer Prilly Latuconsina, and Visinema Pictures-produced film Mencuri Raden Saleh, among others.

Also Read: Why ‘Indonesia-only’ Intudo Ventures believes SEA as one cohesive market is a fallacy

The company is developing creator tools, including a self-service drag-and-drop NFT builder, which allows users to mint and release NFTs quickly with zero technical knowledge required.

SerMorpheus will also provide analytical tools to help creators track their collection and user base.

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The end of August was an exciting time for crypto enthusiasts –and proponents of the Web3 space in general– in Indonesia. There were at least two major events happening that allows them to meet up and share insights about the future of the industry.

I had the opportunity to attend sessions at the NXC International Summit where Deputy Trade Minister Jerry Sambuaga announced the country’s plan to establish a crypto stock exchange by the end of 2022. In his presentation, Sambuaga explained that the exchange will list companies in the crypto industry (that have been granted licences by the country’s financial watchdog).

The introduction of the exchange itself is a means to protect consumers.

This update is not the only want that makes us feel optimistic about the Indonesian government embracing crypto –and Web3 innovation in general. In a recent interview with e27, Steven Suhadi, Founder of Standard Alpha and Indonesia Crypto Network (ICN), detailed the potential of the Indonesian crypto scene.

“We already have regulations about crypto in Indonesia, while some other markets in the region don’t have clear regulations yet,” Suhadi says. “So we see the cryptocurrency scene is growing rapidly. For example, before the regulation was introduced, there were only two exchanges when we started Standard Alpha and ICN. And now, we have 25 registered exchanges … We’re also speaking to a lot of institutions. Not only a lot of Web2 companies are starting to say, ‘Okay, how do we get into Web3’, but many institutions from traditional finance are also saying, ‘We need to participate in this.’”

Also Read: We’re still in the dot-com phase of Web3: Steven Suhadi of Standard Alpha

He also explains why tech hub such as Bali is the right breeding ground for it.

“All the regulations happen in Jakarta, the capital city, but Bali has a thriving community. And even the Jakarta players start to have offices in Bali either to give their teams a work-life balance or they want to tap into the local community here — expert developers or different sorts of conceptual thinking, people experimenting. They want to merge that and fuse that with the knowledge and bring that relevant skills back to Jakarta.

What Indonesia needs to do

When we look at the details of the situation on the ground, and the promises of what is coming next, it does look like Indonesia has a great future in the Web3 sector. It has all the elements of a supportive ecosystem from a close-knit community to initiative that keep up with the changes in society.

But there is always something to improve on. In this matter, we can boil them down into one major concern: Consumer protection and the willingness to move swiftly to ensure it.

“As a result, Elliptic expects consumer protection will be the major regulatory focus issue of 2022, and consumer protection authorities will become major forces shaping the crypto space,” writes David Carlisle, Vice President of Policy and Regulatory Affairs at Elliptic, in a blog post.

Also Read: How to scale voluntary carbon markets with DeFi and Web3

With the upcoming launch of the crypto exchange, and the licensing that the government is giving to existing companies in the crypto industry, we can see that there is already a commitment to ensure consumer protection.

However, whenever Something Bad Happened, the public has to be ensured that the government will be there for them –and honestly, the precedent is not always great.

The public may have strong reasons to be concerned following a recent incident where hacker Bjorka claimed to have breached state cybersecurity defenses. This move resulted in the compromise of billions of pieces of citizens’ personal data.

Critics have been dubbing the government’s response as ‘lacking’, as reported by The Jakarta Post.

If our intention is to build a strong ecosystem for the Web3 industry, then building trust should remain a priority in the government’s mind. We already have a good plan set on paper; let us make sure that the practice will be just as good.

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