Calling all TOP100 Semi-Finalists! Join us at the Echelon Asia Summit 2023 Communication Workshop for Startups on May 30, from 11 AM to 12.30 PM. Hosted by PRecious Communications, this engaging session is designed to empower founders like you to conquer funding challenges and elevate your communication skills to new heights.

This interactive workshop will provide invaluable insights and best practices to help startups navigate the complex media landscape in Southeast Asia. Led by Prayaank Gupta, VP of Growth & Innovation, and Daniel Tan, Director at PRecious Communications, founders will gain expertise in key areas for startup success.

Learn to identify and analyse your target audience, tailoring your messaging for maximum impact while gaining a deeper understanding of their preferences and needs to deliver compelling narratives that resonate. Discover the art of captivating storytelling to communicate your startup’s vision, values, and unique selling points, distilling complex ideas into engaging stories that leave a lasting impression. Develop a strong message house foundation for clear and concise communication, effectively structuring your messages to highlight your startup’s value proposition and deliver your pitch with clarity and impact.

Also Read: Cracking the PR code: A PR blueprint for startups

Additionally, take advantage of networking opportunities to connect with like-minded entrepreneurs, share experiences, and foster valuable connections for your startup’s growth journey.

Don’t miss this exclusive opportunity to enhance your startup’s communication prowess in preparation for Echelon 2023. Elevate your pitch, overcome funding challenges, and amplify your communication impact in Southeast Asia’s startup ecosystem.

Invitations have been sent out to all the TOP100 program semi-finalists.

Elevate your startup’s communication and stand out in Southeast Asia’s competitive startup landscape. See you at the workshop!

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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.

Image Credit: Miguel Henriques on Unsplash

The post Crafting compelling narratives: A communication workshop for TOP100 Semi-Finalists at Echelon Asia Summit 2023 appeared first on e27.

Insider, an online platform for building individualised, cross-channel experiences, has announced an up to US$105 million investment from existing investors Qatar Investment Authority (QIA) and Esas Private Equity.

The latest investment takes the Sequoia Capital-backed Insider’s total funding to US$274 million.

Insider CEO and Co-Founder Hande Cilingir said: “These funds will be used exclusively for the purpose of acquiring exceptional product companies in APAC, including Singapore, to complement our technology further and create product synergies.”

“The response from the market, and our customers, following Insider’s acquisition of MindBehind, earlier this year, has increased our appetite to explore further opportunities to acquire unique organisations with industry-first technologies to better serve our customers, drive more value, and source innovative solutions to marketers’ biggest frustrations and challenges,” he added.

Also Read: B Capital believes in startups, corporates collaboration to bring decarbonisation efforts forward

Insider is a woman-founded, women-led B2B SaaS unicorn. The firm enables enterprise marketers to connect customer data across channels and systems, predict their future behaviour with an AI intent engine, and build individualised customer experiences. The firm claims the platform enables marketers to deliver consistent and engaging experiences across web, app, web push, email, SMS, and WhatsApp Commerce.

Since its launch in Singapore ten years ago, Insider has won several notable clients in the city-state, including Watsons, Pizza Hut, and Lancome.

Globally, the firm works with 1,200 global businesses, including Singapore Airlines, Estée Lauder, Virgin, Toyota, New Balance, IKEA, GAP, L’Oreal, Samsung, Vodafone, Allianz, Santander, BBVA, Pizza Hut, Newsweek, MediaMarkt, Nissan, AVIS, MAC, Marks & Spencer, Madeira Madeira, Avon, and CNN.

Tunc Bolluk, Managing Director of APAC. “This investment opens up countless opportunities for strategic acquisitions right here in Singapore, and we are actively looking to hire the best local talent the industry has to offer, as we grow our team and create more jobs. We can fuel product innovation by acquiring companies with industry-leading solutions to help marketing and ecommerce leaders, drive more value and growth from their customer experience initiatives.”

In March last year, Insider secured US$121 million in its Series D financing round and became a unicorn.

QIA, the sovereign fund of the Qatar government, is the backer of Volkswagen and Barclays.

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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 Volkswagen backer QIA joins women-led B2B SaaS unicorn Insider’s US$105M funding round appeared first on e27.

Amidst the challenges of a tough funding climate, e27 is launching an exciting new article series called Angel’s Advocate to provide fresh perspectives on angel funding. In this exclusive series, we sit down with prominent angels to hear their stories and strategies and gain unique insights about the early-stage financing space.

Anndy Lian is an all-rounded business strategist in Asia. He has provided advisory across various industries for local, international, and publicly listed companies and governments. He is an early blockchain adopter, serial entrepreneur, author, investor, board member, and keynote speaker.

In this edition, Lian shares his take on angel funding.

Edited excerpts:

How do you typically approach investing during a funding winter?

I would put my eggs into different baskets. In one of my baskets, I will focus on companies with solid fundamentals and a proven track record of generating revenue and profits. This kind of investment tends to be on the safe side, longer term, and returns may not be fantastic.

Then in my next basket, I will find low-valuation, high-potential startups with the right fundamentals to invest in. Crypto companies fit into this category nicely.

What are your typical investment criteria, such as industry, stage, and geographic location?

Investment criteria do not cover everything. It gives me guidelines that my team and I can use to filter out bad companies. In the current state of the market, I only look at tech companies, mainly in the cryptocurrency and blockchain industries. If they are more infrastructure-like, I do not mind investing in them at later stages. If the project is one of a kind, I would like to invest as early as possible, maybe pre-seed. If the project is more hype-driven, I will invest when the volume picks up. 

Can you describe your investment process from initial contact to closing a deal?

First of all, the initial contact. We may learn about a potential investment opportunity through their personal network, a pitch event, or by contacting the company seeking funding directly. Then followed by screening. This process is a deeper level of evaluation where we will have longer calls to look for investment alignment.

We will go through the due diligence process if they pass this stage. We will conduct more in-depth research and analysis to evaluate the company’s business model, management team, financial performance, and growth potential. This process is the most important to me. The chance to interact with the team would be one of the key things.

The next stage would be negotiation. If we decide to move forward with the investment, we will negotiate the terms of the deal with the company, including the amount of funding and the valuation.

Once all parties have agreed upon the terms of the deal, legal documents will be prepared and signed to finalise the investment.

Also Read: Do not treat the pitching process as a transaction, angels are not ATMs: Yi Ming Kau of Krux Asia

How do you evaluate a startup’s potential for growth and success?

Evaluating a startup’s potential for growth and success can be challenging, as many factors can impact a company’s future performance. I look at the market opportunity, business model, management team, financial performance and competition.

How important is the founder’s experience and background when making investment decisions?

Well, it is definitely important. The founder is the brain and creator of the company. If the main driver does not have the experience and background, the outcome would generally be disastrous.

Can you share your successful investment and what made that investment successful?

So far, crypto investments are the most successful in my portfolio. At crazy times, meme-coins can also be a potential 100X gem.

What are some common mistakes that startups make when pitching to angel investors? What are some myths about angel investment?

Some common mistakes that startups make when pitching to angel investors include not understanding the needs and goals of angel investors, failing to clearly articulate the value proposition, relying too heavily on financial projections, not doing enough research on potential investors, and not having a multi-faceted marketing strategy.

Another mistake is sending your executive summary or business plan unsolicited. Many investors do not read unsolicited emails and prefer a referral from someone in their network. It’s also important to do your homework on the investor and ensure your company is aligned with the investors’ objectives.

Also Read: Pure ideas with no executions to prove do not attract savvy investors: Shao-Ning Huang of AngelCentral

How important is the alignment of values between the investor and the founder?

The alignment of values between the investor and the startup founder is crucial. Ideally, your investors should be experts in your field or sector so that they not only understand the costs, time-to-market, and potential pitfalls of your vision but can also connect you with the right people and resources to help you achieve it. It’s important for the investor to spend some time understanding the skills and capabilities of startups.

How do you manage risks when investing in startups? Are there any specific metrics or indicators you look for?

Investing in startups is risky, but it can be very rewarding if the investments pay off. Most new companies or products do not make it, so the risk of losing one’s entire investment is a real possibility.

To manage risk, I can use strategies such as diversification, which refers to spreading my investments over a variety of assets with the aim that a portfolio of lowly-correlated assets does not all move in the same direction at the same time or even if they do move in the same direction, it should at least be by different degrees.

Can you share any advice for startups looking to raise funds from angel investors?

My humble advice to startup owners is to develop a business plan before approaching someone about funding. Put in writing what the investor is offering the business outside of funding because many angel investors expect to contribute their time actively to startups in which they invest. Establish roles.

It’s also important to create a strong, thorough, and engaging investor pitch deck and guidance on presenting to angel and venture capital investors.

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Echelon Asia Summit 2023 brings 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 can pitch to 5000+ delegates, among other benefits like connecting with investors, visibility through the platform, and other prizes. Join TOP100 here.

The post I use strategies such as diversification to manage risks: Blockchain expert Anndy Lian 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.

A partnership is a critical aspect of any successful endeavour, and the upcoming Echelon Asia Summit 2023 is no exception. With the Asia Pacific tech conference happening in Singapore EXPO on June 14-15, 2023, sponsors are playing a crucial role in ensuring its success.

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

Echelon Asia Summit 2023 is one of the premier events for technology professionals, bringing together experts from around the world to share knowledge and discuss the latest trends and innovations in the Southeast Asian tech startup ecosystem. This year’s conference will feature keynote speeches, panel discussions, and workshops on a wide range of topics, including artificial intelligence, blockchain, digital healthcare, and other emerging digital trends.

How these partners are helping us give you the best Echelon experience ever

Sponsors play a critical role in ensuring the success of the Echelon Asia Summit 2023 in several ways. Firstly, they provide various forms of support and coverage for the various activities and features that make the summit such an exciting and meaningful experience for attendees.

Moreover, sponsors bring their expertise and experience to the table, providing attendees with unique perks. By leveraging their networks and marketing channels, sponsors also help bridge the event to wider audiences, enabling access to valuable insights for different demographics.

Also read: Six ecosystem innovators to watch out for at Echelon 2023

One of the key roles of sponsors is also their presence at the actual Echelon Asia Summit. This provides attendees with the opportunity to network with them and get to know their products and services, which is an essential aspect of Echelon’s purpose as an ecosystem enabler that connects all stakeholders together. By supporting the Echelon Asia Summit 2023, founders can connect with other professionals, investors, and startups in the tech industry, forging new partnerships and collaborations that can drive business growth and success.

As such, e27 is proud to announce Zendesk as one of its sponsors for the 2023 edition of the Echelon Asia Summit!

Meet Zendesk at Echelon Asia Summit 2023!

Zendesk is the leader in Customer Experience (CX) that helps businesses unlock the power of their customer interactions. Zendesk delivers smarter experiences across the entire customer journey through its integrated, seamless suite of services operating on the latest Web 2.0 technologies and Zendesk’s design philosophies. Businesses, agents, and consumers all benefit from the power of everyday interactions thanks to Zendesk’s industry-leading solutions and expertise.

Zendesk helps businesses unlock this power with personalised experiences, an open and flexible platform, advanced AI and automation, and the data and tools needed to make important decisions in real time.

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

Zendesk’s mission for the APAC startup ecosystem is to create a programme built for growth. Zendesk makes it easier for businesses to support their customers using Zendesk’s customer service, engagement, and sales CRM solutions. Moreover, qualifying early-stage startups get Zendesk free for six months.

At the Echelon Asia Summit 2023, Zendesk hopes to meet as many startups and VCs with the hope of building meaningful partnerships and collaborations that can yield impactful results.

Join Echelon Asia Summit 2023

Get to know Zendesk and more 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.

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

The post Zendesk: Customer experience leader will be at Echelon! appeared first on e27.

During the COVID-19 pandemic, it seemed impossible to find a person who had never used Zoom to support their remote working setup. As travel became limited and team members were confined to their residences, more and more people embraced the use of the video communications platform to connect with colleagues and business partners.

In addition to turning it into a household brand, how does this affect how Zoom innovates through its products?

“Over the last few years, people around the world have started to rethink what makes them happy. This includes their priorities at work. We need to remember that humans are not workers; we are people who work. This may seem like a small difference, but at Zoom, it is at the heart of everything we do,” explains Lucas Lu, Head of Asia, Zoom.

“As such, we’ve doubled down on helping organisations create happiness at work as they relook how, when and where work happens. We are focused on helping remove barriers, lowering stress and providing tools that work best for employees, their lives and their workflows. The results we have seen are encouraging: organisations tell us that employees feel happier, and more empowered because they are able to focus on what matters to them.”

Lu states that ultimately, Zoom believes that it is less about the “future of work” and more about the shifting strategies around work collaboration.

Also Read: ‘Co-working spaces should introduce new tech tools to cater to hybrid, remote workers’

“Distributed workforces are not new, and the need for flexible work tools has always been there. The last few years have just accelerated the importance of fostering better collaboration among employees – no matter if they are working from home, at an office, or in a different country,” he states.

In this email interview, e27 catches up with Zoom to find out about the next innovation that the company is working on, particularly with exciting technologies such as AI. The following is an edited excerpt of the conversation:

What is the most significant milestone that your company has made recently?

At Zoom, we see artificial intelligence (AI) as the next industrial revolution in the workspace.

Many of the existing Zoom products that our users know and love already incorporate AI, from the virtual backgrounds and gesture recognition of Zoom Meetings to our conversation intelligence solution Zoom IQ for Sales.

Most recently, we have taken that to the next level with the enhancement of Zoom IQ, our next-generation AI smart companion that will empower collaboration and unlock the potential of a flexible workforce by summarising chat threads, organising ideas, drafting content for chats, emails, and whiteboard sessions, creating meeting agendas, and more.

For example, teams will be able to simply open up a whiteboard session to collaborate on a product launch, and have Zoom IQ generate a list of ideas based on text prompts. Once the meeting ends, Zoom IQ will be able to send the meeting summary to Zoom Team Chat, with suggested action items for owners to take on.

Ultimately, the upcoming features of Zoom IQ will help employees focus on what matters by streamlining workflows. The time saved from, for example, finding the notes about a meeting missed, or catching up on unread chats – can be put to unlocking greater collaboration within teams and innovation to deliver better experiences to their customers.

Also Read: Is remote work the answer to tech’s layoffs?

What opportunities do you aim to seize this year? Any particular trend or vertical that you are interested in?

With CX now critical to companies’ bottom lines, our priority at Zoom is to help customers reimagine their CX roadmaps across various verticals including healthcare, education, and financial services.

The key to success in today’s economic landscape is resiliency, and businesses will need to double down on driving a differentiated customer experience as a priority. Being able to acquire and retain customers is a source of competitive advantage for organisations and helps to build brand loyalty in the long term. Leaders need to invest in the right technologies that can help consolidate business communications across employees, customers, and partners.

Where CX is concerned, this increases convenience and ease of use for customers who can now enjoy a seamless, end-to-end customer journey all within one interface. We developed Zoom Virtual Agent to help organisations with delivering the fast yet personalised experiences customers want. As an intelligent conversational AI and chatbot solution, Zoom Virtual Agent was able to work around the clock to resolve support queries quickly and accurately. For employees, streamlining day-to-day workflows can allow them to devote more time to creativity and innovation, which can also have positive implications for CX.

Our omnichannel cloud contact centre platform, Zoom Contact Center, which will generally be available to Asia later this year, is another example of our platform-first innovations seeking to provide customers with an all-in-one Contact Center as a Service (CCaaS) solution. This can deliver tangible benefits to organisations both in terms of cost savings and enriching CX.

A recent report from Metrigy showed that organisations that integrate unified communications with an omnichannel contact centre gained significant benefits, including improvements of up to 36 per cent in customer satisfaction ratings, in addition to 29 per cent reduction in operational costs.

Also Read: Building successful remote teams: Navigating cultural differences between Southeast Asia and the world

What is your major plan this year?

People are central to the success of any flexible work model. For Zoom, that means providing our customers with new ways to keep their employees informed, engaged, and connected, no matter where they work.

Most recently, we announced the acquisition of Workvivo, a modern, feature-rich employee experience platform. With Workvivo’s advanced internal communication and engagement tools, social intranet, and employee app, all blended into one central hub, we can offer our customers the best-in-class solutions they need to unlock the potential of their employees and evolve their company culture in a hybrid world.

Part of our focus on helping organisations improve employee experience is in leveraging AI to support enhancing human connection in the workspace. This is why we are rapidly expanding our Zoom IQ capabilities to offer more innovative solutions powered by generative AI. From composing emails and chats to generating chat summaries – many of these features coming later this year, we hope to bring the power of AI directly to our users.

Earlier this week, we also announced our investment in Anthropic, an AI safety and research company. This is set to boost Zoom’s federated approach to AI by allowing Anthropic’s AI assistant, Claude, to be integrated with Zoom’s platform (which includes Team Chat, Meetings, Phone, Whiteboard, Zoom IQ), starting with Zoom Contact Center.

Our approach to AI is no different than our approach to everything else: with care and with a commitment to empowering our users to save time so they can have more meaningful connections and collaboration opportunities.

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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.

Image Credit: Zoom

The post Removing barriers to collaboration, Zoom aims to further explore the use of AI appeared first on e27.

Indonesia-based social commerce platform Evermos today announced that it had raised US$39 million in its Series C funding round.

It was led by the International Finance Corporation (IFC) — a member of the World Bank group — and IFC Emerging Asia Fund, LP, managed by IFC Asset Management Company, with the participation of returning partners such as Jungle Ventures, Shunwei Capital, UOB Venture Management, and Telkomsel Mitra Inovasi.

This funding round also saw investment from new partners SWC Global, Endeavor Catalyst, and Uni-President Asset Holdings.

Evermos will channel this latest funding towards strengthening its reseller network by deepening penetration in Java and expanding to Sumatra.

The company will continue driving its efforts of empowering local brands to make a positive impact on the Indonesian economy, expanding services across the retail value chain to support their continued growth. In addition to growing its reseller network, Evermos will continue to spearhead upskilling efforts for resellers to expand their customer base beyond personal networks through digital advertising.

Also Read: Boosting e-commerce growth in Asia: The power of collaboration

Ghufron Mustaqim, Co-Founder and CEO of Evermos, said in a statement, “We have stayed true to our commitment to supporting local brands since day one. In the process of solving the logistical issues Indonesian brands face due to the country’s unique geographical and economic challenges, we have realised that brands face diverse challenges beyond distribution. We will thus continue to harness innovation to connect local brands and customers in lower-tier cities more efficiently.”

Evermos was founded in 2018 by Ghufron Mustaqim, Arip Tirta, Iqbal Muslimin, and Ilham Taufiq.

In a press statement, the company claimed to be Indonesia’s largest social commerce network with 160,000 monthly transacting resellers as of January 2023.

Since the pandemic, Evermos has shown 17x gross merchandise value (GMV) growth from Financial Year 2020 to Financial Year 2022.

The company saw 18x higher sales of resellers who leverage digital tools compared to those relying on personal networks only.  Further, the proceeds will fuel the development of Evermos’ array of AI-powered tools and solutions for resellers to understand consumers better through customer relationship management.

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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.

Image Credit: Evermos

The post Evermos raises US$39M to fuel the expansion of its connected commerce network appeared first on e27.

ZUZU Hospitality, a revenue platform provider for independent hotels, today announced an oversubscribed US$9 million (SG$12 million) Series B funding round led by SoftBank Ventures Asia, with participation from Atinum Partners and existing investors Wooshin Venture Investment, Visor Ventures and JG Digital Equity Ventures.

The startup plans to double its hotel partner count across the region with a keen focus on India and reach an impressive milestone of 5,000 partners by the end of 2024. Furthermore, it also plans to make strategic investments in AI tools to improve pricing, automate guest management, and improve partner experience.

These advancements aim to enhance ZUZU Hospitality’s offerings and revolutionise how independent hotels operate in today’s competitive market.

The online travel market in Southeast Asia is projected to surge to an estimated worth of US$44 billion (SG$59 billion) by 2025, a significant increase since pre-COVID-19 times.

Over the past three years, amidst the pandemic, ZUZU Hospitality improved its products by focusing on simplifying and automating revenue management tools. According to the company, these improvements have proven instrumental in driving revenue growth for their hotel partners.

Also Read: How a hospitality career helped me jump into tech

It also introduced a new line of products specifically designed to enhance direct distribution capabilities. This includes creating a customised direct website and booking engine for each hotel partner, complete with localised payment platforms tailored to each market’s unique requirements.

Furthermore, recognising the challenges faced by independent hotels in managing payments, the company established a comprehensive payment platform enabling seamless payment management with all OTA partners and guests, mitigating the issue of payment discrepancies.

“We are thrilled to announce our Series B funding round,” said Founder and CEO Vikram Malhi in a statement. “The round’s oversubscription reflects the strong confidence our investors have in our vision and capabilities. This substantial financial boost will enable us to innovate our offerings further, accelerate our growth trajectory and support more independent hotels in increasing their revenue.”

“It’s a tough time to be raising funds but there is money sitting on the sideline ready to be deployed in capital-efficient businesses with strong unit economics. We are one such business that has managed to not only come out stronger post-pandemic, but also scaled with positive unit economics with a fraction of the relative capital,” shared Malhi.

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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.

Image Credit: ZUZU Hospitality

The post ZUZU Hospitality raises US$9M in a Series B funding round led by SoftBank Ventures Asia appeared first on e27.

Southeast Asia witnessed many actions this week, from Grab Co-Founder’s stepping down from her active role, to LiveIn’s acquisition of KT Management, besides numerous funding announcements.

Here’s a brief of each news article we published this week:

Startup Studio Indonesia alumni raise US$65.8M

Startup Studio Indonesia (SSI), a startup accelerator backed by the Ministry of Communication and Informatics of Indonesia (Kominfo), announced on Friday 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.

ZUZU Hospitality bags US$9M Series B

ZUZU Hospitality, a revenue platform provider for independent hotels, on Friday announced an oversubscribed US$9 million Series B funding round led by SoftBank Ventures Asia, with participation from Atinum Partners and existing investors Wooshin Venture Investment, Visor Ventures and JG Digital Equity Ventures.

The startup plans to double its hotel partner count across the region with a keen focus on India and reach an impressive milestone of 5,000 partners by the end of 2024. Furthermore, it plans to invest strategically in AI tools to improve pricing, automate guest management, and improve partner experience.

These advancements aim to enhance ZUZU Hospitality’s offerings and revolutionise how independent hotels operate in today’s competitive market.

Evermos nets US$39M Series C

Indonesia-based social commerce platform Evermos on Friday announced that it raised US$39 million in its Series C funding round.

It was led by the International Finance Corporation (IFC) and IFC Emerging Asia Fund, with the participation of returning partners such as Jungle Ventures, Shunwei Capital, UOB Venture Management, and Telkomsel Mitra Inovasi.

This funding round also saw investment from new partners SWC Global, Endeavor Catalyst, and Uni-President Asset Holdings.

Evermos will channel this latest funding towards strengthening its reseller network by deepening penetration in Java and expanding to Sumatra.

Insider scores US$105M funding

Insider, an online platform for building individualised, cross-channel experiences, on Friday, announced an up to US$105 million investment from existing investors Qatar Investment Authority (QIA) and Esas Private Equity.

The latest investment takes the Sequoia Capital-backed Insider’s total funding to US$274 million.

Insider CEO and Co-Founder Hande Cilingir said: “These funds will be used exclusively for the purpose of acquiring exceptional product companies in APAC, including Singapore, to complement our technology further and create product synergies.”

“The response from the market, and our customers, following Insider’s acquisition of MindBehind, earlier this year, has increased our appetite to explore further opportunities to acquire unique organisations with industry-first technologies to better serve our customers, drive more value, and source innovative solutions to marketers’ biggest frustrations and challenges,” he added.

Co-Founder Tan Hooi Ling to step down from her active role at Grab

Southeast Asian super app giant Grab on Thursday announced that its Co-Founder Tan Hooi Ling has decided to relinquish her active role in the company, including her directorship, effective 2023-end.

Ling will transition into an advisory role in the company.

The Nominating Committee of the Board will review potential candidates to supplement the Board later this year. Grab will make a further announcement upon the changes to its Board of Directors taking effect.

“People who know me well know that I am an adventurer at heart, and there are many other personal passions that I have put aside to build Grab with Anthony. With the strong leadership bench we currently have, I believe now is the right time for me to pass on the baton to our next generation of leaders and to pursue these other passions,” Ling said in a statement.

Bossjob rakes in US$5M in venture funding

Bossjob, an online job search platform in the Philippines, on Thursday, announced that it secured US$5 million in funding from an undisclosed venture fund.

The startup will use the investment to enhance its platform, refine the user experience, and expand the team.

The deal comes as the company expands into Singapore, Indonesia, and Hong Kong.

Bossjob was founded in 2018 by Anthony Garcia and Kiat How Quak. The co-founders met at a networking event in the Philippines. As they discussed their challenges as aspirating entrepreneurs, they discovered a common challenge: finding suitable candidates in the country. They wanted to develop a tech solution to address this challenge. This led them to start Bossjob.

GoodGang Labs gets US$2M seed funding

Singapore-based avatar communications company GoodGang Labs announced on Thursday that it successfully raised US$2 million in seed funding from Kakao Investment, a subsidiary of the prominent South Korean tech giant.

The funding will be strategically allocated towards the growth and development of GoodGang Labs’ flagship product kiki town.

kiki town is a global platform for avatar-based communication that provides individuals with a virtual environment where they can freely express themselves and connect with others regardless of appearance or physical location.

It sets itself apart by exclusively transmitting voice and avatar motion data, resulting in a significantly lighter and more efficient platform. Additionally, unlike 2D-based interfaces, kiki town offers a 3D environment that aims to empower users with dynamic viewing angles through multiple virtual cameras.

SkorLife banks US$4M

SkorLife, a fintech company allowing users to access their credit scores and reports instantly from Indonesia’s credit bureaus, announced on Thursday that it secured US$4 million in a seed funding round led by global tech investor Hummingbird Ventures with participation from QED Investors.

Existing investors AC Ventures and Saison Capital also joined.

SkorLife will use the fresh funds to develop products, build brand awareness, expand the team, and accelerate growth. “With the funds we’ve raised, SkorLife is poised to accelerate its mission of promoting responsible borrowing and fair credit practices in Indonesia. We are dedicated to driving financial literacy amongst individuals and communities,” said Karan Khetan, Co-Founder and President.

BandLab receives US$25M financing

Singapore-based social music creation platform BandLab announced on Thursday that it raised US$25 million in a Series B1 financing round at US$425 million post-money valuation.

Existing investor Cercano Management (formerly Vulcan Capital, founded by Microsoft Co-Founder Paul Allen) led the round that also saw participation from Prosus Ventures.

BandLab will use this new funding to grow its workforce and double down on emerging creator campaigns. It will also channel additional resources towards supporting services, such as its music education platform BandLab for Education and other similar initiatives.

Builder.ai secures US$250M Series D

Builder.ai, an AI-powered composable software platform, announced on Thursday that it secured US$250 million in a Series D funding round led by Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar.

Existing and new investors, including Iconiq Capital, Jungle Ventures, and Insight Partners, joined.

This round takes Builder.AI’s total fund raised so far to US$450 million.

The latest round of capital will allow the UK-based firm to invest in talent, partnerships, and technology.

Vietnamese cleantech startup Stride bags US$2M

Stride, a cleantech company in Vietnam, announced on Wednesday that it secured US$2 million in seed funding from local VC firm Touchstone Partners and Singapore-based Clime Capital.

The startup will use the money to accelerate its capacity to provide low-cost, clean energy solutions for Vietnam’s residential and small business consumers.

Andrew Fairthorne, CEO at Stride, said, “The investment enables Stride to accelerate its deployment of clean energy solutions to more households and small businesses across Vietnam, thus reducing their energy expenses and assisting Vietnam in achieving its net zero targets.”

Stride aims to accelerate Vietnam’s low-carbon transition by providing households and small businesses with eco-friendly home improvement projects, smart home technology, energy-efficient products and access to solar energy.

LiveIn acquires KT Management in Malaysia

LiveIn, which provides “affordable” long-stay rental solutions in Malaysia and Thailand, announced on Monday it acquired KT Management, a student accommodation and long-term rental solutions provider in Malaysia’s northern region.

The details of the transaction haven’t been disclosed.

According to a press release, this merger aims to provide LiveIn’s flexible community living solutions and a better online-to-offline (O2O) experience for KT Management’s thousands of tenants. This means that after students graduate, they will be able to have access to any accommodation within LiveIn.

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Copyright: garagestock

The post These are the top startup news stories we published this week 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.

A partnership is a critical aspect of any successful endeavour, and the upcoming Echelon Asia Summit 2023 is no exception. With the Asia Pacific tech conference happening in Singapore EXPO on June 14-15, 2023, sponsors are playing a crucial role in ensuring its success.

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

Echelon Asia Summit 2023 is one of the premier events for technology professionals, bringing together experts from around the world to share knowledge and discuss the latest trends and innovations in the Southeast Asian tech startup ecosystem. This year’s conference will feature keynote speeches, panel discussions, and workshops on a wide range of topics, including artificial intelligence, blockchain, digital healthcare, and other emerging digital trends.

How these partners are helping us give you the best Echelon experience ever

Sponsors play a critical role in ensuring the success of the Echelon Asia Summit 2023 in several ways. Firstly, they provide various forms of support and coverage for the various activities and features that make the summit such an exciting and meaningful experience for attendees.

Moreover, sponsors bring their expertise and experience to the table, providing attendees with unique perks. By leveraging their networks and marketing channels, sponsors also help bridge the event to wider audiences, enabling access to valuable insights for different demographics.

Also read: Six ecosystem innovators to watch out for at Echelon 2023

One of the key roles of sponsors is also their presence at the actual Echelon Asia Summit. This provides attendees with the opportunity to network with them and get to know their products and services, which is an essential aspect of Echelon’s purpose as an ecosystem enabler that connects all stakeholders together. By supporting the Echelon Asia Summit 2023, founders can connect with other professionals, investors, and startups in the tech industry, forging new partnerships and collaborations that can drive business growth and success.

As such, e27 is proud to announce Wallex as one of its sponsors for the 2023 edition of the Echelon Asia Summit!

Meet Wallex at Echelon Asia Summit 2023!

Wallex is the leading B2B Foreign Exchange (FX) and payments specialist in Asia. Wallex is all about helping companies regain control of their FX and payment processes through their secure online platform. With Wallex, you can pay and convert in 46 currencies to over 180 countries, collect payments via virtual accounts, and hold funds in a wallet using their Wallex Global Business Account.

The company is simplifying cross-border business with same-day settlements in top and Asian currencies, round-the-clock concierge-level support, and customised exchange rates with zero hidden fees. Wallex prides itself on offering companies double the value at half the cost.

Fully licensed and regulated by the Monetary Authority of Singapore (MAS), Bank Indonesia (BI) and Hong Kong Customs and Excise Department (HKCED), Wallex maintains the highest security standards to protect customers’ data and funds. 

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

Wallex’s mission is to help companies of all sizes do business across borders with greater simplicity and efficiency by providing an alternative to banks that charge high processing fees and FX margins while providing little to no support when issues emerge.

“By participating in Echelon, Wallex aims to establish connections with young startups and venture capitalists (VCs) in order to gain a deeper understanding of the obstacles they face in international transactions. By doing so, Wallex aims to provide assistance and support to these entities, enabling them to enter the global marketplace with increased assurance and confidence,“ shared Vidhi Shah, Head of Marketing of Wallex.

She added, “we are keen to connect with budding entrepreneurs and young startups, providing insights on topics such as fundraising, streamlining internal processes, developing a nurturing workplace culture and more.”

At the Echelon Asia Summit 2023, Wallex hopes to serve as an inspiration to young companies and entrepreneurs and support them in achieving growth and pursuing their goals. 

Join Echelon Asia Summit 2023

Get to know Wallex and more 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.

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

The post Wallex: Get to know this B2B payments expert at Echelon 2023 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.

The TOP100 program is an annual project spearheaded by e27 with the goal of recognising the most promising and innovative startups in the Southeast Asian region and beyond. The program is a highly anticipated event that provides a platform for exciting new startups to showcase their ideas, gain exposure to investors and potential partners, and receive valuable feedback from industry experts.

Through the TOP100 program, startups have the opportunity to pitch their ideas to a panel of judges comprised of investors, corporates, and industry giants. The judges evaluate each startup based on various criteria, including innovation, market potential, team strength, and overall execution.

Also read: Wallex: Get to know this B2B payments expert at Echelon 2023

Winning the TOP100 program can have a significant impact on a startup’s growth trajectory. The program has helped many startups secure funding, gain media attention, and expand their customer base in the regional market.

With its rigorous selection process, 100 startups get to pitch their products and services at the Echelon Asia Summit slated on June 14-15 at the Singapore EXPO. Top contenders will proceed to the finals where winners will be selected.

Without further ado, here is the fourth batch of startups that will be competing at this year’s TOP100!

10 more semifinalists for the 2023 TOP100

ExtraBread

ExtraBread is a decentralised lending protocol that lets users lend or borrow funds with collateral. The platform enables a more cost-effective and fully transparent model using a ready-to-go liquidity pool infrastructure by connecting investors and borrowers to democratise access to capital and finance opportunities.

Real-world assets can be tokenised into fractional digital ownerships and participants can turn these tokenised digital assets into multiple financial instruments. Depositors can provide liquidity funds to earn a passive income, while asset owners are able to borrow or raise funds by collateralising their assets.

Jagofon Pte Ltd

New smartphones are way too expensive in Indonesia – up to 6 times the local monthly salary and second-hand smartphones are not to be trusted: at least 20% are illegally imported, stolen, or counterfeited, more than 30% suffer from quality issues, and there is no warranty or guarantees. Jagofon is Indonesia’s first marketplace specialising in second-hand smartphones. Their mission is to rebuild trust in the second-hand smartphone market, with top-quality yet affordable phones.

All Jagofon smartphones are extensively tested, 100% functional, and guaranteed. They follow a meticulous selection and testing methodology to bring customers the very best, and by buying from them, you are giving a second life to a device, thus helping to reduce electronic waste and protect the environment.

Quest – Hire a Hero

Quest connects Small-Medium Enterprises in Southeast Asia to a “cult-like” community of Gen Z gig workers within 5 minutes. With increased pressures to reduce cost and full-time headcount, startups and SMEs in Southeast Asia are struggling to execute their ideas.

On the other hand, 80% of Gen Zs are capable and hungry for alternate income sources. At Quest, they give businesses everything they need to find, hire, and manage top gig talents for a fraction of the cost of agencies and freelance platforms. Quest is on a mission to provide the next million jobs through flexible opportunities.

Longan Group

Longan Group is an ethical and inclusive debt management company supporting consumers and financial institutions to manage their finances more efficiently, on a mission to solve consumer indebtedness and promote financial health among the 2bn population across Asia, a $60bn market. 

They provide debt solutions for banks, fintechs, and other financial institutions looking to improve their cash flows and manage their balance sheets. Longan is headquartered in Singapore with core operations in Vietnam and Indonesia. They are actively working on further expansion.

South and South-East Asia have experienced rapid growth in lending, both consumer and corporate, over the last 15 years. Home to some of the largest financial institutions in the world, there is an obvious void in place of professional receivable management companies. Longan Group is here to fix this problem.

BC Labs

BC Labs is a company that operates Coinvestor, a global digital asset investment platform. Coinvestor provides unparalleled profit-making opportunities, while also prioritising seamless and secure services.

On Coinvestor, crypto-market players can enjoy a differentiated experience by accessing insights, sharing strategies, and monetising expertise. Coinvestor aims to become the world’s most engaging investment platform for digital assets by providing a hub for active communication between investors and traders.

 

Also read: Six ecosystem innovators to watch out for at Echelon 2023

CESeL Primus

CESeL Primus supplies vertical farming cultivation devices, facilities, and environmental control solutions through the development of automated harvesting technology, big data, and AI-based technologies. They offer services for constructing large-scale vertical farms.

CESeL Primus also offers indoor vertical farming solutions in urban shopping centres and community spaces that provide fresh fruits, leafy greens, and herbs to be harvested and supplied on the same day.

They are operating “CESeL Alpha Farm Gwanggyo”, which is the world’s first urban indoor vertical strawberry farm built with their proprietary patented technology and design capabilities.

CakepLabs

CakepLabs is a South Korean- based company focused on Financial Technology (Fintech) and Artificial Intelligence (AI) development. CakepLabs gives you the best solution for your fintech and banking problems. They offer the easiest, fastest, simplest, safest, and highest quality for your Fintech.

Chaca Market is one of the products built by CakepLabs. It’s an app that provides local service around your neighbours, giving users benefit with less work while improving the quality of the neighbourhoods — all of which are free.

Wizher

Wizher is a digital laundry management platform that offers a comprehensive suite of features designed to streamline operations and enhance the laundry experience for shop owners and their customers.

Recognising the challenges faced by laundry shop owners, such as unauthorised machine usage, manual sales audits, and limited customer accessibility, Wizher has developed a platform that addresses these pain points. Their machine control feature ensures secure operations by preventing theft, while automated sales tracking eliminates the need for manual audits and saves valuable time. They also prioritise customer convenience by offering a seamless way for them to check their laundry status without having to visit the shop physically.

TradeMonday

TradeMonday is the AIaaS Low-code Platform enabling the product, tenant, and shopper recommendations for retailers, brand owners, and shopping malls. The proprietary modularised AI engine turns the consumer data such as product demand, feedback, transactions, and footfall traffic into actionable insight and empowers businesses in simulating top-line growth strategy.

TradeMonday’s smart recommendation engine analyses rich fragmental data sources and converts them into product, tenant and shopper recommendations helping businesses to shorten the development of a customer-centric digital solution and business insight and presented in an easy-to-use interface, API or integration that fits into the client’s needs.

COCOTEL

COCOTEL is a chain of 1-3-star hotels, resorts, and beachfront properties that provides quality rooms at a fraction of the cost. From overnight stays to long weekends, come and enjoy the scent of salty sea air, and the comforts of a cool, clean beach haven.

Whether it’s a group of friends planning a small reunion by the seaside, a family vacationing by the shore, or a lone backpacker seeking relaxation in a tropical paradise — COCOTEL has rooms for everyone for a great holiday. Customers can get cosy inside their tranquil tropic-designed, nature-inspired interiors, or a boudoir for a romantic honeymoon. Go for COCOTEL now.

 

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

To be battled out at the 2023 Echelon Asia Summit

Watch out for these exciting startups as they battle it out on the TOP100 pitching stage at the 2023 Echelon Asia Summit happening on June 14-15 at Singapore EXPO.

The Echelon Asia Summit is a leading technology conference that brings together experts from around the world to discuss the latest trends and innovations in the industry, share expert knowledge, and provide opportunities to network with peers. The event is a must-attend for anyone in the tech industry looking to stay ahead of the curve.

Catch these startups and more at this year’s TOP100 stage! To learn more about Echelon Asia Summit 2023 and to sign up for the event, visit the official page here.

The post 10 more exciting startups to compete at this year’s TOP100 appeared first on e27.