Use our special promo code: GO for 75% off your Echelon tickets!

The 2023 Echelon Asia Summit is happening at the Singapore EXPO on 14-15 June 2023. Are you a startup founder, investor, corporate, or tech enthusiast? Don’t miss out on one of the most anticipated tech conferences in the region! For more information, visit the official Echelon page.

In today’s rapidly evolving business landscape, the pursuit of growth and expansion has long been a hallmark of success. This has propelled countless enterprises to new heights, attracting investors, customers, and potential collaborators. However, a critical paradigm shift is taking place — one that emphasises sustainability over sheer speed. The era of prioritising short-term gains at the expense of long-term growth is drawing to a close as businesses begin to recognise the imperative of transitioning from a fast-paced high-growth model to a more sustainable one.

Sustainability in business cannot be overstated. It ensures the longevity of a company by adopting practices that support long-term viability and resilience. By prioritising sustainability, businesses can navigate market volatility, foster positive stakeholder relationships, and position themselves as robust and forward-thinking organisations in an ever-evolving business landscape, among others.

This has been one of the key things Rexy Josh Dorado, Co-Founder and President of Kumu, has learned when it comes to his business approach.

Also read: Seeking to bridge Korea and Southeast Asia at Echelon is NFC

“When you shift from a time of market exuberance to one of crisis, the priority shifts to different things. Profitability over aggressive growth; enduring impact over immediate wins. Going slow and steady can seem like a mistake in a bull market — and it might be when all of your competitors are operating in full gear with endless resources. But for us, we’ve found that we actually thrive most as a team when we can focus on what matters, build on a sustainable foundation, and make choices that optimise for the long-term mission rather than the next-year window,” shared Rexy.

A Filipino brand built to last

Kumu is a live-streaming app built for GenZ and Millennial Filipinos. Their Social TV, virtual gifts economy, and live commerce platform empower thousands of Filipino content creators around the world. Their app has been downloaded in over 55 countries and has over 10 million registered users since launching in August 2018.

The social media platform aims to amplify Filipino creativity, storytelling, community-building, and commerce. They have also ranked as the highest-grossing social app in the Philippines in both the Google Play and App Store.

Leading the pack is Rexy Josh Dorado. As Co-Founder and President, Rexy has led the company to seed, Series A, Series B, and supported Series C deal processes to raise over $100m USD in total; supported growth efforts to reach over 10 million registered users; built and managed financial model and business plan prior to hiring of CFO; drove corporate restructuring initiative alongside key investors and stakeholders; and managing long-term roadmap and strategic partnerships.

Also read: The 2023 TOP100 is getting more heated with 15 more contenders

Before Kumu, Rexy founded Kaya Collaborative, a program that connects Filipino diaspora leaders to high-impact organisations in the Philippines, and supported global entrepreneurs through roles in Ashoka and Endeavor. He is passionate about unlocking the creative and economic force of the global Filipino community.

Like many founders, Rexy has big plans for Kumu. “We’re not fully there yet, but we’ve made huge strides towards getting back to profitability as a company this year. With infinite runway and enough resources to invest in growth opportunities, we can begin to invest deeply with a long-term timeline in mind–and a long-term ambition of building Kumu as the best platform and ecosystem for Filipino creators and communities,” he shared.

With an emphasis on sustainability, Rexy believes that the key to unlocking Kumu’s maximum potential is through a mindset reorientation. “The biggest thing for us was grounding ourselves again in what matters long-term, giving ourselves permission to orient the company towards a win that will take years, not within 18 months after a raise,” he added.

Challenges and forging ahead

It hasn’t exactly been an easy year for Kumu so far. Grappling with declining users and rising competition, among others, the social media platform underwent downsizing efforts in its team. “We’re still a small fish in a big pond, and we compete, if nothing else, on time and attention span with companies that are worth hundreds of billions of dollars. That means that victory for us will rely on the things that we can do but they cannot: a deep focus on Filipino communities, opportunities that are small to a Meta or Bytedance, but for us, provide a sustainable base on which we can grow,” explained Rexy.

He added, “[We are] particularly interested in how we can deepen our engagement with communities that have been cornerstones to Kumu: more features and revenue streams for our professional creators, our global Filipino base, and highly passionate communities around things such as volleyball, music, and the ACGN market (anime, comics, gaming, and novels), among others,” underscoring the importance of investing in communities that have helped build the brand from the ground up.

Also read: Echelon: Strategies for growth equity according to industry experts

As Kumu aims to concentrate its efforts on Filipino storytellers, the company hopes to cultivate and grow new business models, formats, and initiatives that engage the broader base of Filipino creators.

Discussing more of Kumu’s future growth plans and lessons from his experiences as Co-Founder and President, Rexy Josh Dorado will be joining this year’s Echelon Asia Summit for a fireside chat on “Growth Lessons: The Ups and Downs of Building a Consumer Growth Stage Company”. The session will be moderated by e27 Co-Founder and CEO, Mohan Belani.

Echelon Asia Summit 2023

Get to know Rexy and other industry experts at this year’s Echelon!

Echelon Asia Summit 2023 is happening on 14-15 June, at the Singapore EXPO. Featuring a slew of speakers, exhibitors, business matching sessions, pitching stages, and more, the event enables participants to connect, network, and engage with the larger tech startup ecosystem.

At the Echelon Asia Summit, participants get the chance to attend a diverse range of sessions, including keynote speeches, panel discussions, and workshops, all exploring exciting topics like AI, blockchain, e-commerce, fintech, and marketing. You’ll also have the opportunity to join networking sessions and meet-ups where you can connect with fellow entrepreneurs, investors, and industry leaders.

To learn more about Echelon Asia Summit 2023 and sign up for the event, visit the official page here.

The post Echelon: Achieving a sustainable model according to Kumu appeared first on e27.

Indonesian agritech firm eFishery hits unicorn status with US$108M Series D
The investors are 42xfund, Northstar Group, and SoftBank Vision Fund II; EFishery last raised US$90 million in a Series C funding round in January 2022.

SG, MY fuel PropertyGuru’s 16% revenue bump in Q1
It registered US$24.2M in revenue for Q1, up from about US$21M from a year ago; Its core market of Singapore contributed almost US$14M, with Malaysia chipping in ~US$5M; Both markets showed year-on-year growth of around 25%.

AI-powered composable software platform Builder.ai raises US$250M Series D
The investors include Qatar’s QIA, Iconiq Capital, Jungle Ventures, and Insight Partners; Builder.ai’s platform allows anyone with an idea to build an app (web or mobile) faster.

Carro says it broke EBITDA record in FY 2023
CFO Ernest Chew said that 60% of Carro’s gross profit in the latest financial year came from recurring ancillaries; The automotive marketplace expects to achieve a 10x growth in EBITDA in FY 2024.

Women-led B2B SaaS unicorn Insider raises US$105M
The investors are Qatar Investment Authority and Esas Private Equity; Insider will use the funds to acquire companies in APAC, including Singapore, where it already works with companies such as Watsons and Pizza Hut.

Indonesian social commerce platform Evermos raises US$39M
The investors include IFC, Jungle Ventures, Shunwei Capital, UOB Venture Management, and TMI; Evermos will use the funds to strengthen its reseller network by deepening penetration in Java and expanding to Sumatra.

Social music platform BandLab secures US$25M financing
The investors include Cercano Management and Prosus Ventures; BandLab empowers aspiring music creators worldwide to create, collaborate, and share their music online with an emphasis on emerging artist discovery, community, and fandom.

Co-Founder Tan Hooi Ling to step down from her active role at Grab
Hooi Ling currently leads Grab’s tech organisation and has also served as a member of its Board of Directors since its public listing in Dec 2021.

Zuzu Hospitality secures US$9M in SoftBank Ventures Asia-led round
The company helps independent hotels optimise their operations and increase their revenue by offering revenue management, distribution, and payment solutions.

AI-powered video platform Gan.ai raises US$5.25M
The investors include Sequoia Surge and Emergent Ventures; Gan.ai provides brands with a generative AI-powered video creation platform.

Filipino job search platform Bossjob secures US$5M in venture funding
Bossjob aims to provide speedy communications between talents and bosses to eliminate lengthy application processes through direct chat; The deal comes as the company expands into Singapore, Indonesia, and Hong Kong.

Indonesian credit-tech startup SkorLife secures US$4M
The investors include Hummingbird Ventures, QED Investors, AC Ventures, and Saison Capital; The fintech company allowing users to access their credit scores and reports instantly from Indonesia’s credit bureaus.

SG’s avatar communications firm GoodGang Labs gets US$2M
The investor is Korea’s Kakao Investment; GoodGang Labs plans to launch kiki town for Web2 with the goal of revolutionising how individuals connect and interact in virtual environments.

Vietnamese cleantech startup Stride raises US$2M
The investors include Clime Capital and Touchstone Partners; Stride provides households and small businesses with eco-friendly home improvement projects, smart home technology, energy-efficient products and access to solar energy.

Antler aims for 100 investment deal target in SEA for 2023
Antler is looking to set aside US$100M for new investments in Southeast Asia over the coming years, with roughly 40% of that amount reserved for Indonesia.

SG bespoke jewellery designer Madly wins East Ventures backing
The funding round comes as Madly sees increasing demand for custom-made jewellery and coloured gemstones, two areas it focuses on; Madly offers handcrafted pieces through a process that involves its clients at every step.

JumpStart Coffee gets fresh funding, targets overseas expansion
The investors are Cool Japan Fund and Living Lab Ventures; Indonesia-based JumpStart specialises in manufacturing vending machines that can serve over 20 types of coffee and non-coffee drinks.

The 2023 TOP100 is getting more heated with 15 more contenders
Here’s our third batch of 15 exciting and innovative startups that are vying to clinch the top spot at this year’s TOP100 programme.

Seeking to bridge Korea and Southeast Asia at Echelon is NFC
The Next Challenge Foundation (NCF) is bringing 15 promising startups in the mobile app and game industry to this year’s Echelon!

A communication workshop for TOP100 Semi-Finalists at Echelon Asia Summit 2023
This interactive workshop for TOP100 Semi-Finalists will provide insights to help startups navigate the complex media landscape in SEA.

Your ultimate guide to hosting eco-friendly events in Asia
Implementing sustainable practices improves event planners’ environmental impact and creates positive community impact.

Acing in hackathons: What every tech enthusiast needs to consider
MetaPals Co-Founder Daryl Lim says participating in multiple hackathons allowed him to develop a winning formula – one that is predicated on passion, a continuous learning attitude, and the courage to venture into uncharted territories.

Experts on how SEA companies can survive and thrive in a high interest-rate environment
In a high interest-rate environment, focus on unit economics, be adaptable, explore different revenue streams, and be prudent in spending.

‘Investor expectations have evolved beyond a singular focus on topline scale, growth’
For startups aiming to thrive in the global marketplace, embracing international talents and fostering a multicultural environment is paramount, says KKday CEO Ming Chen.

Ample opportunities for tech talents but firms must do more to compete: JobStreet
The recently launched Jobstreet report revealed that today’s candidates are looking for more than just a competitive salary.

‘Startups, corporate collaboration will bring decarbonisation efforts forward’
According to B Capital, increased engagement between startups and corporates can de-risk investments, create a positive feedback loop.

—

Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here.

Echelon also features the TOP100 stage, where startups get the chance to pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

The post Ecosystem Roundup: eFishery turns unicorn, Insider raises US$105M, Tan Hooi Ling to relinquish her active role at Grab appeared first on e27.

Use our special promo code: GO for 75% off your Echelon tickets!

The 2023 Echelon Asia Summit is happening at the Singapore EXPO on 14-15 June 2023. Are you a startup founder, investor, corporate, or tech enthusiast? Don’t miss out on one of the most anticipated tech conferences in the region! For more information, visit the official Echelon page.

Happening this 14-15 June 2023 at the Singapore EXPO, the Echelon Asia Summit is one of the largest tech and business conferences in Asia that gathers entrepreneurs, investors, and industry experts from across the region. The event aims to provide a platform for startups and businesses to showcase their innovations, network with peers and investors, and learn from renowned speakers and thought leaders.

The summit features a range of activities, including keynote speeches, panel discussions, workshops, and exhibitions, that cover a diverse range of topics concerning today’s tech startup ecosystem. The event is also home to the TOP100, one of the region’s most prestigious pitching competitions, enabling startups to gain exposure, connect with potential investors, and forge new partnerships.

Also read: Echelon: Achieving a sustainable model according to Kumu

The Echelon Asia Summit provides a valuable opportunity for attendees to gain insights into the latest trends and developments in the Southeast Asian tech ecosystem, enabling all participating stakeholders to explore new opportunities for growth and expansion.

As an ecosystem enabler and community builder, it is important for Echelon to offer space for exciting new startups to showcase their innovations. With that, here are six more startups that will be exhibiting at this year’s tech conference.

Six exhibitors to check out at the Echelon Asia Summit 2023

Asana

Asana is a web and mobile “work management” platform designed to help teams organize, track, and manage their work. The platform helps teams orchestrate their work, from small projects to strategic initiatives. Headquartered in San Francisco, CA, Asana has more than 131,000 paying customers and millions of free organizations across 190 countries. Global customers such as Amazon, Japan Airlines, Sky, and Affirm rely on Asana to manage everything from company objectives to digital transformation to product launches and marketing campaigns.

In a nutshell, Asana is on a mission to enable the world’s teams to work together effortlessly.

For more information, visit https://asana.com/campaign/fac/think 

Fetch Technology

Fetch Technology is a Vietnam-based coders training and placement facility.

Fetch invests in Southeast Asia’s most talented developers and integrates them into the world’s best tech companies.

Founded in 2016 in hopes of helping friends secure great jobs with good companies so that their standard of living is elevated while working on products that they are passionate about, in cosy environments and cultures that they look forward to every day. Fetch wanted to build a community. A community where coders join as an employee of different companies, but where they become part of the bigger Fetch Family.

For more information, visit https://fetch.tech/ 

ThoughtFull

ThoughtFull is a digital mental health company with a vision to make access to end-to-end mental healthcare seamless and affordable in Asia. ThoughtFull’s proprietary architecture on its mobile apps, ThoughtFullChat and ThoughtFullChat Pro, enables users and mental health professionals to access and provide personalised mental healthcare respectively.

ThoughtFull also partners with key ecosystem players including top insurers, healthcare providers, and employers regionally to both normalise and scale access to mental healthcare services.

For more information, visit https://www.thoughtfull.world/ 

Foxmont Capital

Foxmont Capital Partners is a multi-focus venture capital fund dedicated to Filipino entrepreneurs to support them with capital, network, and through the different stages of development. They focus on talented management teams and entrepreneurs, operations in the Philippines, smart and scalable business models, technology-focused but open to all industries, from early stage to more mature companies, small and large investment amounts, and teams where they can add value.

Foxmont Capital Partners believes that the Philippines offers numerous attractive opportunities to invest in good people and good businesses. Therefore, they are not restricted by any particular investment mandate, policy, or amounts but just focus on solid value propositions.

For more information, visit https://www.foxmontcapital.com/ 

Privacy Ninja

Privacy Ninja provides affordable and high-quality PDPA and Data Protection services, DPO-As-A-Service, vulnerability assessment, penetration testing, smart contract audit, and consultancy in Singapore.

Established in April 2018 by the founders of AntiHACK.me, Privacy Ninja is rooted in more than a decade of secured IT development services, compliance expertise, and corporate training. They specialise in serving as an outsourced Data Protection Officer (DPO) for startups and SMEs in Singapore and in executing penetration testing services.

Besides the above, Privacy Ninja also covers extensive compliance — and cybersecurity-related services, such as Outsourced CTO, Smart Contract Audit, and others. The team continues to evolve in conjunction with the changing technological landscape, ensuring their clients will receive a more engaging and effective learning experience.

For more information, visit https://www.privacy.com.sg/ 

BuzzAR

Based in Singapore, BuzzAR is a location-based AR solution for retail and commerce.

Since 2018, BuzzAR has been building metaverse solutions in real life (IRL) and has been uniquely positioned for luxury brands — with its clientele including regional Fortune 500 companies and government agencies. They pioneer the offline-first offline to online to offline (O2o2o) traffic platform, turning offline traffic visible to venue owners, shopping mall operators, and hoteliers.

BuzzAR escalated to global prominence with its debut at London Tech Week where thousands turned up, including Singapore’s Deputy Prime Minister, Heng Swee Keat, queuing up to play with their Pop Up Metaverse.

For more information, visit https://buzzar.app/ 

Join us for this year’s Echelon!

Catch all six exhibitors as they showcase their unique and exciting innovations at the Echelon Asia Summit 2023 happening in Singapore EXPO on 14-15 June 2023. Attendees also get to enjoy a variety of activities including keynote speeches, panel discussions, workshops, and networking opportunities designed to foster collaboration and knowledge-sharing among participants.

Also read: Seeking to bridge Korea and Southeast Asia at Echelon is NFC

This year’s program theme will focus on “Building towards a sustainable and impactful tech ecosystem” which is a timely topic to be discussed among industry leaders concerning our ever-changing market and business landscape.

Interested in taking part in one of the biggest tech conferences in the region? Visit the official Echelon Asia Summit 2023 page for more information.

 

The post Six ecosystem innovators to watch out for at Echelon 2023 appeared first on e27.

With 21 acquisitions in nine years, Malaysia-born Aerodyne Group is in a class of its own.

The group, founded as a 3-person startup by Kamarul A Muhamed in 2014, is now a drone-tech company with a presence in 45 countries. The ‘360DT3’ (drone-tech, data-tech, and digital transformation) company helps organisations overcome complex industrial challenges by leveraging drone data and AI-powered analytics.

With over 1,000 drone professionals operating across 45 countries, Aerodyne specialises in managing critical assets, such as power lines, solar facilities, telecommunications infrastructure, agriculture, and oil and gas operations.

In this interview with e27, CEO Muhamed speaks about the company’s growth and how it navigated various global challenges to become a leading enterprise drone company globally.

Excerpts:

How has been the past two to three years for Aerodyne from a business growth perspective?

From a growth perspective, the past few years have been good. Our revenue grew by 2.5x per annum. During that timeframe. revenue base also weighted heavier internationally vs Malaysia, and we achieved that breaking point last year.

Also Read: AI can bring more intelligence and automation into drone industry: Aerodyne CEO

Of course, markets were not ideal, and we had to make tactical shifts to our long-term growth plans by streamlining our technology offerings to the market. We also expanded to new markets such as Brazil, Italy, Australia and the Middle East since 2020.

How many rounds of funding have you raised of far? Can you share the details of each round? How has fundraising and business matching changed for you in the last two to three years?

We have been prudent in raising capital and were relatively late to raising external capital. We used cash flow from operations for four years before raising external capital in 2018.

We raise capital only for growth requirements (that is, for acquisitions, investing in new markets, etc.) and not to supplement working capital.

To date, we raised four rounds: US$3 million in Series A in 2018 from Axiata Digital Innovation Fund, US$30 million in Series in 2020 led by KWAP, US$5 million in Series B+ in 2021 from a consortium of Japanese investors), and US$30million in pre-Series C in 2022 led by Petronas).

Do we see an end to the raise-cash-burn-cash growth model and the emergence of the ‘make profits, sustain & grow’ model?

We have observed that investors in the market have placed a lot more emphasis on the “path to profitability” and achieving steady-state EBITDA sooner rather than later. We have also observed market reactions to listed companies that have made efforts to increase operational efficiency, which would result in improved profitability or an inch closer to profitability (for those who have not yet achieved profitability). Markets have reacted favourably to companies that have placed spending prudence at the core of their agenda.

With this trend, growth-stage companies would need to recalibrate their growth strategies to achieve EBITDA breakeven and, subsequently, EBITDA positive sooner rather than later to minimise discounts to valuation.

What challenges does a late-stage startup face compared to an early-growth-stage startup?

Late-stage startups typically have a larger team and complex organisational structure compared to early-growth-stage startups. As the company grows, there may be more pressure to generate consistent revenue and profits to satisfy investors and stakeholders.

Scaling a product or service can be more challenging for a late-stage startup, as the company may need to expand its infrastructure, technology, and customer base. The competition may also be more intense for a late-stage startup as established companies and new entrants enter the market.

Maintaining the company culture and mission can be more difficult as the company grows and new employees are added. The founder or CEO’s role may shift from being hands-on with day-to-day operations to focusing on strategic decisions and leadership.

Late-stage startups may also face increased regulatory scrutiny and legal challenges as they expand their operations.

What learnings can early or growth-stage companies make from late-stage companies?

Late-stage companies have likely navigated many of the challenges that early or growth-stage companies are currently facing, so early-stage companies can learn from their experiences. Late-stage companies may have a more established brand and reputation, which can provide insights into how to build a strong brand identity.

Late-stage companies often have more sophisticated systems and processes, which can serve as a model for early or growth-stage companies looking to scale and improve their operations. They may have a more diverse and experienced team, providing insights into attracting and retaining top talent. They may also have more resources and connections, which early or growth-stage companies can leverage to accelerate their growth and success.

Can you speak of recent fundraising efforts and how the current economic climate impacted those efforts?

I will not comment on specifics. However, as I have mentioned earlier, there has been a lot of emphasis on earnings, the path to profitability, and so on. This is also heavy on the agenda of investors, and rightly so.

However, we see in the market that because of the general trend of moving down the risk curve, there is immense opportunity for consolidation of the market. Our investment pipeline looks more favourable, considering that industry players could face headwinds in raising capital and hence become more attractive valuation-wise.

How is the mindset and cultural shift happening internally since we are in a high-interest rate environment and funding isn’t going to be as easy as before?

As I have mentioned before, being prudent in spending should be at the heart of every management conversation.
This environment is not an outlier but rather a revision to mean. The low-interest rate environment, which many startups/growth stages have been comfortable with in recent years, was not meant to last.

Also Read: Investor expectations have evolved beyond a singular focus on topline scale, growth: KKday CEO

That being said, be it a low-interest rate environment or otherwise, operational efficiency or having frameworks to continuously innovate to expand revenue lines and achieve better operational efficiency should be of utmost importance.

At Aerodyne, we consciously traded the profitability we achieved in the first five years of operations to fuel growth during the pandemic, coinciding with the commencement of rate cuts. Since then, the focus has been to turbocharge products and geographical expansion, which has borne fruit.

How does the current global economic slowdown affect your business, and what steps have you taken to mitigate any adverse impacts? Have you noticed any changes in customer behaviour or demand, and how have you responded?

Supply chain: inputs are no longer as easy to be sourced at the right price points, which in the long run will affect gross profit. However, we have taken steps to manage this by assembling our drones to supplement the demand for our technology worldwide.

However, considering the point about efficiency, which I mentioned before, we see the growing demand for solutions which fit themes of automation and big data, which we fall under.

There has been increased demand in the industries we serve, such as agriculture, oil & gas, critical infrastructure management, and so on, that are traditionally less technologically infused. These industries are looking to technology providers like us to catalyse operational efficiency within their own operations

Can you discuss any cost-cutting measures you’ve implemented and how those measures have impacted your business operations? Did you lay off employees to stay afloat in the market?

We didn’t lay off employees even in the challenging operating climate. We saw this as an opportunity to invest heavily in the R&D of new products to ensure we are ready to take advantage when the market recovers.

Also Read: ‘Global firms are paying closer attention to SEA’s tech talent pool’: Glints CEO

Nonetheless, Aerodyne recalibrates how we do operations in various countries across multiple verticals to optimise cost structures. This includes harnessing operational efficiencies by leveraging artificial intelligence, which we are heavily investing in, finding alternatives to the input equipment we use for operations, including localising assembly where possible.

Can you speak of any market opportunities that have emerged due to the economic downturn and how your company is capitalising on those opportunities?

As I mentioned earlier, many companies face challenges when raising capital for continuity because of economic headwinds. We see this as an opportunity to be in a position to be that beacon to consolidate the market.

As the less-than-ideal economic climate emphasises cost efficiencies, we see increased demand for automated solutions, big data platforms and artificial intelligence, all of which we offer to the market.

Can you discuss your plans for diversifying your revenue streams or expanding into new markets in light of the current economic climate?

1. Over the past few years, in the face of global economic slowdown, travel restrictions, COVID-19 and so on, we have made tactical moves to adjust our plans by streamlining our product base into four vital solutions:
   Agrimor — an end-to-end digital transformation solution for agriculture;
2. DRONOS — a mega SaaS platform that incorporates all the learnings which we have harnessed over the nine years of managing drone operations in various countries and verticals into the back-end algorithm;
3. Fulcrum — a nested autonomous drone system; and
4. Argentavis is an advanced air mobility system optimised for long-distance payload delivery.

These innovations occurred when the world was at a standstill following the COVID-19 outbreak, and the demand for such products spiked. These products will continue to be enhanced and offered to the market.

How has Aerodyne maintained a strong company culture and motivated your team during these challenging times?

Building a solid working level also requires ensuring they understand our purpose, which is embedded in the Aerodyne Way, which guides our culture, value, solutions, technology, and the people we hire are the people who are aligned with our long-term vision.

Aerodyne has grown from strength to strength whenever we resolve a challenge. Building the right corporate culture is also a key thrust.

As of 2023, we are standing strong with 1,000 AeroRangers globally.

How are startups tackling talent issues? Is that an issue in this market?

Our early challenges included adopting the technology we were proposing, getting the right talent and raising capital.

Aerodyne has been working closely with universities in many events benefiting research & development, one use case of drones across industry and usage, obtaining high-quality talent, especially for data analysts, and enhancing the drone ecosystem.

The drone industry has created hundreds of jobs involving software developers, AI and data scientists, engineers, technicians, and UAV pilots, to name a few.

In the first three years, we focused on building the team to instil belief in the cause and being on the same wavelength, principles and objectives.

Also Read: Malaysian drones services firm Aerodyne adds Japanese investors to its cap table

Building a solid working level also requires ensuring they understand the culture, value, solutions, technology, and the people we hire are the people who have a long-term vision as us.

We also overcame the talent issues through strategic partnerships to strengthen the human capital development initiatives (reskilling and upskilling) to increase talents’ employability and marketability, specifically in Artificial Intelligence (AI), drone tech skills, and data technology.

—

Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here.

The post Being prudent in spending should be at the heart of every management conversation: Aerodyne CEO appeared first on e27.

Startup Studio Indonesia (SSI), a startup accelerator backed by the Ministry of Communication and Informatics of Indonesia (Kominfo), has announced that its alums have collectively secured funding worth US$65.8 million (Rp977,6 billion) since its launch. 

The programme has opened registration for its seventh batch, which looks to admit 18 early-stage startups, bringing the total number to 115. One business analyst assigned to guide the startup will assist each participant.

Startup Studio Indonesia will continue supporting the development of early-stage startups by improving their product iterations and business models and enhancing user retention before entering the market expansion phase.

SSI assists startups in increasing their chance of funding by helping them focus on finding product-market fit (PMF) and networking and learning from the best startup players in Asia.

Also Read: Being prudent in spending should be at the heart of every management conversation: Aerodyne CEO

The participants will also receive four-month guidance from experienced coaches. There are a total of approximately 110 coaches, including the CEO & Founder of Xendit Moses Lo; CEO & Co-Founder of eFishery Gibran Huzaifah; the CEO & Founder of IDNTimes Winston Utomo, the CEO & Co-Founder of Halodoc Jonathan Sudartha, COO & Acting CEO of Bukalapak Willix Halim; and the MD & CCO of Gopay Budi Gandasoebrata.

Startups looking to join the programme should be bootstrapped/ in pre-seed/seed/pre-Series A funding stages; have a differentiated product; have at least six months of traction with a 5 per cent month-on-month growth; and have the potential to scale up.

The programme aims to support the development of 150 early-stage startups by 2024. It has already accelerated 97 startups. 

Semuel Abrijani Pangerapan, Director General of Informatics Applications at Kominfo, said: “We will make every effort to support startups in Indonesia. We can anticipate the presence of extraordinary startups from Indonesia through the Startup Studio Indonesia programme.

Visit startupstudio.id to apply for the programme. 

Since its launch in September 2020, approximately 30-40 alumni of Startup Studio Indonesia have been able to secure seed or pre-seed funding after completing the program. The names include supply chain management startup Baskit (raised pre-seed funding of US$1.5 million in March 2023) and CRM solution developer startup Looyal (secured pre-seed funding in May 2023).

—

Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here.

The post Startup Studio Indonesia alumni raise US$65.8M in funding appeared first on e27.