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.

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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 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.

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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.

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).

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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.

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

Bossjob, an online job search platform in the Philippines, has 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.

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

Bossjob is a chat-first career platform. It aims to provide speedy communications between talents and bosses to eliminate lengthy application processes through direct chat.

With a focus on personalised algorithms and data-driven insights, Bossjob aims to streamline the job search process, ensuring professionals connect with the right opportunities and employers discover top talent efficiently.

“The expansion into new markets, including Singapore, Indonesia, and Hong Kong, demonstrates our commitment to addressing the global demand for a smarter and more effective hiring process. With a goal of reaching 30 million users by 2026, we are poised to significantly impact the job market,” said Garcia.

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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 Filipino job search platform Bossjob secures US$5M in venture funding appeared first on e27.

Amidst growing economic challenges, businesses are deep into their annual planning strategies. While many companies face budget cuts and hiring freezes, Gartner’s research reveals that four out of five CEOs are increasing their investments in digital technology, betting that the right investments can counter the effects of the recent headwinds. This indicates that digital transformation is viewed as a strategic priority that can help businesses remain competitive and achieve growth amid our increasingly precarious and unpredictable market.

However, while startups and SMBs recognise the value of tech investment in future-proofing their businesses, Gartner reported that more than half of digital initiatives fall short of leadership expectations, with businesses seeing two particular challenging areas: delays in completion (59%) and value realisation (52%). As such, technology leaders must balance short-term gains with long-term goals, harnessing cloud infrastructure optimisation to make their organisations leaner and more agile. By doing so, they can free up resources such as time and effort to focus on long-term strategic business priorities.

Also read: 15 exciting startups make it to the 2023 TOP100

While delivering quick results for the bottom line, they must also maintain a long-term technical vision that is aligned with the company’s broader strategic objectives. By freeing up both time and money, leaders can reallocate resources to strategic business priorities, such as product development, customer engagement, and talent management. Ultimately, this approach can help organisations thrive in a rapidly evolving business environment.

In managing their expectations, there are a few things business leaders must look into in order to adopt a more robust cloud infrastructure that will help them achieve short-term gains while also working towards long-term goals.

How can infrastructure costs be lower and more predictable?

As an organisation grows, the costs for cloud infrastructures are also likely to increase. This is because cloud providers typically charge users based on usage which means companies are often billed by the hour, these charges can fluctuate from month to month, especially during periods of high traffic which can lead to unexpected surges, and therefore higher costs. These fluctuations make it difficult to plan on an annual basis and cloud service bills can be complex and difficult to understand, so it’s worth asking your cloud provider to review both your average costs and any unexpected costs or overages.

By having these conversations with your cloud provider, you can identify areas where you can optimise performance for cost savings. For example, if there are periods of high utilisation followed by periods of lower utilisation, it is likely that computing power is being underutilised during the low utilisation periods. In such cases, dynamic loads may benefit from automation, making use of tools such as Kubernetes, which can save your team time and reduce operational costs. By monitoring your usage and optimising your computing resources, you can reduce your cloud costs and get the most out of your cloud investment.

How can we make cloud infrastructure easier to manage?

All teams encounter technical debt and legacy processes at some point in their operations. To address these issues, it is important for teams to evaluate their organisation’s architecture internally and in partnership with cloud providers. This will help them identify areas where processes can be improved and optimised for better performance.

One potential solution is to explore fully managed services offered by cloud providers. Although this option may come with additional costs, it could save valuable time that can be redirected towards high-value initiatives that were previously impossible due to the maintenance demands of the infrastructure. By freeing up internal teams from infrastructure maintenance, organisations can leverage their expertise in other areas that are essential to their operations.

Also read: See how GHARAGE is empowering travel and retail at Echelon

Furthermore, internal teams can provide valuable feedback on bottlenecks or cultural issues that are hindering processes. Addressing these issues could have a ripple effect across the organisation, leading to improvements in efficiency and productivity.

By taking a comprehensive approach when it comes to identifying areas for improvement, teams can optimise their processes and leverage new technologies and strategies to stay competitive in today’s fast-paced business environment.

How can we increase stability and reliability for customers?

Load times and application uptime can have a significant impact on an organization’s revenue growth or loss. Therefore, it is essential to focus on increasing the stability of your applications, as this can lead to outsized revenue performance.

One critical step towards improving application stability is to evaluate your cloud provider’s Service Level Agreement (SLA) to ensure that it meets your organisation’s needs. Companies should also confirm that the cloud provider’s data backups, network load balancing, autoscaling, failovers, and other fail-safe mechanisms align with your business needs. This will help ensure that your applications are always available to your customers, even during unexpected disruptions.

Internally, you should also identify areas where application resilience can be improved and prioritise those improvements accordingly. This may include investing in new technologies or strategies to enhance your applications’ stability and minimise downtime.

By taking a comprehensive approach to evaluating your applications’ stability, you can optimise your revenue performance and ensure that your customers have a seamless experience with your products or services.

Are there ways to reduce development time with automation?

Cloud computing has enabled development teams to move faster, but automation can take these improvements even further. By implementing tools like Git for version control, CI/CD pipelines for quick updates, and Infrastructure as Code (IaC) for provisioning resources, teams can free up significant time and focus on developing high-quality products that meet their business needs and goals.

Cloud providers can also provide valuable guidance on best practices for automation based on their experience and expertise. By working closely with your cloud provider, you can identify the most effective automation processes to implement within your organisation. This will help your teams quickly resolve bugs, release new features, and provide a better customer experience.

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

Moreover, automation can help streamline development processes and ensure consistent, high-quality results. It can also help teams stay up to date with the latest technologies and industry trends, giving them a competitive edge.

By leveraging automation and working with your cloud provider to identify best practices, your organisation can accelerate its development processes, improve quality, and ultimately deliver better products and services to your customers.

Casting a vision for the business

After identifying areas for optimisation in the current architecture, it is essential for technology leaders to communicate their vision to the organisation’s leadership. By articulating the anticipated value and timeframes for the proposed optimisations, leaders can begin laying the foundation for what’s possible.

To establish priorities and develop a clear strategy for technology investments, it is necessary to work across the organisation and gather input from various stakeholders. This can help ensure that the technology investments align with the business’s goals and deliver tangible benefits. Moreover, by prioritising investments that deliver business value, technology leaders can cast a technical vision for their organisation that inspires and excites their teams in 2023 onward. This vision should incorporate the latest trends and emerging technologies, while also addressing the organisation’s unique challenges and opportunities.

Effective communication, collaboration, and strategic planning are key to achieving this vision and driving technological innovation within the organisation. By leveraging these best practices, technology leaders can help their teams stay ahead of the curve and deliver exceptional value to their customers.

To learn more about how to optimise your cloud, talk to one of DigitalOcean’s experts today at https://do.co/Contactus .

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Photo by cottonbro studio via Pexels

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This article is produced by the e27 team, sponsored by DigitalOcean

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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Southeast Asian super app giant Grab has 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.

Also Read: Paul Allen’s VC firm returns to invest in social music creation platform BandLab’s new US$25M financing round

Ling co-founded Grab with Anthony Tan in 2012. Ling led various operations and technology teams as COO.

She currently leads Grab’s technology organisation and is mentoring the next generation of technology leaders, including the Group CTO Suthen Thomas and CPO Philipp Kandal. Ling has also been a member of Grab’s Board of Directors since its public listing in December 2021.

Grab offers ride-hailing, food delivery, and digital payment services. With over 200 million app downloads and a presence in over 400 cities across eight countries, Grab is currently valued at over US$40 billion.

The firm recently announced its financial results for Q1 2023. The Q1 2023 revenue grew 130 per cent to US$525 million from last year’s period. The loss for the quarter narrowed by 43 per cent to US$250 million.
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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 Co-Founder Tan Hooi Ling to step down from her active role at Grab appeared first on e27.

Earlier in May, global multi-stage investment firm B Capital announced the appointment of Don Wood as a Venture Partner focused on climate tech.

The Venture Partner was recently a managing director at DFJ as well as Venture Partner and Advisor at Energy Impact Partners and Piva Capital; he has also served as a board member for 15 public and private companies and is a faculty member of the Stanford Graduate School of Business.

With his over 25 years of experience as a venture capitalist and climate tech specialist, Wood’s appointment is meant to expand the firm’s climate investment strategy, serve as a trusted advisor to the firm’s growing climate team and mentor select portfolio companies.

In an email interview with e27, Wood explains in more detail the kind of support that B Capital wants to give to climate tech startups–and the opportunities that the firm wants to pursue.

Through a strategic partnership with BCG and its own internal platform team, the firm provides guidance to enable entrepreneurs to scale fast and efficiently, expand into new markets and build exceptional companies.

“This approach drives high performance for portfolio companies and B Capital, regardless of the market cycle,” Wood says.

Also Read: How climate tech companies in Asia measure the impact of their work

B Capital’s climate tech portfolio includes eight investments across the US and Asia, such as Patch, a company that offers a suite of APIs and developer tools that connect buyers and sellers of carbon credits, and Accacia, which provides AI-enabled decarbonisation solutions to the real estate industry.

Going forward, the firm will continue investing along core themes it sees in climate tech today, including decarbonisation, electrification, and adaptation.

“The core mission of B Capital is to champion founders whose technologies have the potential to change how people work and live across the globe,” Wood stresses.

The following is an edited excerpt of our conversation with him.

In your years of experience in the climate tech sector, what do you think is the biggest challenge faced by climate tech startups in promoting their solutions and building a sustainable business?

Many climate tech startups are breaking new ground – which means they have no playbook to follow for success. These startups are at the forefront of developing groundbreaking technologies, requiring substantial investments and time to demonstrate their efficacy.

Many are pioneering innovative business models that necessitate forging new partnerships and attracting customers with innovative value propositions. Compounding these challenges is the dynamic nature of the regulatory landscape they must navigate, which constantly evolves and presents market timing uncertainties.

Also Read: Why these startups focus on informal plastic waste workers in the fight against climate crisis

However, climate tech startups have learned many lessons from the startup wave we saw a few years ago in Clean Tech 1.0.

By building on these lessons, and by taking advantage of the significant tailwinds in the current landscape, we’re seeing stronger companies that are more likely to succeed.

There has been a conversation about how the corporate world is moving relatively slowly in adopting decarbonisation initiatives. How can startups play a role in accelerating and tackling this problem? What advantage can they offer to the corporate world?

Climate tech companies will be essential in supporting corporates in achieving their net-zero pledges. We are seeing early signposts that large corporates, particularly in the US, are heeding this opportunity (albeit much work remains) to strategically partner with or invest in new technologies to carry out their climate goals.

This drove our investment in Patch, which is helping large corporates offset their emissions with high-quality, trusted carbon credits to hit their net zero goals. More broadly, industry leaders will increasingly need to think about what their business will look like in the context of a net-zero economy and engage with climate tech companies to build advantage through access to their innovative products and services.

This is mutually beneficial. For startups, increased engagement from corporate champions will help de-risk investments and create a positive feedback loop to propel the climate tech ecosystem further. Though it is still early days, and much work remains to be done to activate corporate climate tech strategies more broadly, we are excited about the potential for partnership between startups and corporates and are leveraging our close partnership with BCG to explore this opportunity.

Also Read: The key to tackling climate change: Electrify shipping

Does the funding winter affect the prospect of climate tech investment negatively?

Wider macro trends from the public and private sectors signal a positive outlook with increasing demand for climate tech.

In 2022, a record US$70 billion was invested globally into 4,000 climate tech startups according to HolonIQ. 2023 will be down by perhaps 30 per cent but will remain a very active sector for venture capital investors.

Over US$1.3 trillion in capital was invested into the energy transition and decarbonisation globally and BNEF forecast this will more than triple by 2030 and continue growth beyond that in order to address stated climate goals. This investment will fuel hundreds of successful new climate tech startups in the years ahead.

What will be B Capital’s major plan this year in the climate tech sector?

B Capital will continue to grow our climate tech practice, making new investments into the most promising technologies and companies to earn strong returns for our investors and helping decarbonise the economy and enable the energy transition.

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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: B Capital

The post B Capital believes in startups, corporates collaboration to bring decarbonisation efforts forward appeared first on e27.

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

Featuring the TOP100 stage, 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: How to improve your business in 2023: Optimise your cloud

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 third batch of startups that will be competing at this year’s TOP100!

15 more semifinalists for the 2023 TOP100 

TABLE – Lifestyle & Beyond

TABLE is Asia’s up-and-coming, end-to-end online platform serving as a curated marketplace for premium lifestyle bookings.

TABLE, through its curated and managed marketplace, www.tablebooking.co, has become Thailand’s go-to platform for premium lifestyle experiences. From convenient online table reservations in the FnB space to exclusive lifestyle deals, unforgettable experiences, event discovery and booking, and concierge services for high-value clients, TABLE ticks all the boxes.

TABLE has experienced 300%+ quarter-on-quarter organic growth, already having served thousands of customers across Thailand, including Bangkok, Koh Phangan, Koh Samui, Pattaya, and Phuket. TABLE plans to expand its reach even further, with two new locations in Thailand in Q2 and one new international location in Asia in Q3 of 2023.

DashoContent

DashoContent is an AI-powered B2B content creation platform designed for marketing. 400 million small and medium businesses suffer from current options for content creation because they are expensive in time, resources, or energy. On the other hand, purely automated AI content is rarely on par with that of a human and ends up penalised by search engines.

DashoContent is a pay-as-you-go content platform to create marketing content for businesses that is consistent in their brand voice. Through a platform with powerful AI-assistive tools, they combine the benefits of automation and handcrafted content through their community of vetted expert content creators matched to businesses to help create content that helps with their marketing online.

Qalboo

Qalboo is an Islamic well-being platform to help Muslims find peace. In Southeast Asia, conversations around mental health still carry a negative stigma. This is especially apparent in religious communities, as there is a common belief that poor mental health equates to weak faith. For Muslims, the intersection goes much deeper. There are Islamic laws that aren’t aligned with modern techniques, making it harder for Muslims to seek help, let alone speak openly about it.

Qalboo is changing this narrative. The Islamic wellbeing app is faith-based — providing Muslims with evidence-based solutions that are integrated with Islamic values from the Quran and Sunnah, turning the link between faith and wellbeing into actionable and easy-to-follow solutions.

Biomark

BioMark is a tech startup that operates in the health and wellness space. The company is owned by Pathology Asia Holdings (PAH) and Texas Pacific Group (TPG), one of the largest global private equity firms, with business presence/entities/subsidiaries in Singapore, Malaysia, Indonesia, Philippines, Brunei, Australia, Vietnam, and Hong Kong. Their combined businesses result in them seeing an annual flow of 10-11 million patients per year.

Regionally, BioMark is used across over 6,500 clinics and 63 hospitals, storing more than 24 million patient records. Their core business model is centred around being the conduit between laboratories, doctors, and patients.

Broadly speaking, BioMark ingests blood and pathology reports and displays them to doctors and patients through their platforms. Clinics and healthcare providers (HCPs i.e. doctors and nurses) using their platform can effectively monitor their patients’ well-being, flag patients who need follow-up consultations (and follow-up tests), and order pathology tests and medications. Patients using their platform can better make sense of their lab results and monitor the progress of their health.

Parlon

Parlon is a beauty technology platform where you can discover, book, and buy best-in-price beauty and wellness deals in the Philippines. Parlon has partnered with over 450 salons and wellness brands with a combined number of 1,500 branches in more than 60 cities/provinces in the Philippines. With the widest salon network in the Philippines and expanding soon in Singapore, they are on the road to becoming Southeast Asia’s largest beauty services discovery and fintech platform.

They provide their merchant partners with a world-class multi-channel ecosystem, enabling them to accept bookings and payments, not just in the Parlon app and website, but also via the biggest platforms like Grab, Google, and GCash. With their proprietary technology, they have helped their merchant partners go digital by enabling them to sell their deals online and manage their daily operations.

AI Communis

AI Communis is a Singapore-based startup with Automatic Speech Recognition (ASR) and Natural Language Processing (NLP) technologies through its flagship product, Auris AI.

Auris AI is a web-based platform that automatically generates transcripts and subtitles from audio and video files. It also translates between English and other languages, particularly Asian languages like Japanese, Bahasa Indonesia, and Hindi. Utilising its own ASR technology, Auris AI is able to specialise in Asian languages and drive down operating costs, making it more affordable for users.

In a nutshell, AI Communis is the leader in Automatic Speech Recognition (ASR) software.

Also read: 15 exciting startups make it to the 2023 TOP100

Microtube Technologies Pte Ltd

Microtube Technologies is a wearable sensing technology University spin-off focusing on soft, stretchable sensing technologies that can be incorporated for fitness, gaming, healthcare, and metaverse interactions. Its solution allows objective data capture using these imperceptible wearables, building a seamless integration between wearables and activity tracking in both the real and virtual or metaverse worlds.

ARIS is a wearable developed by Microtube Technologies Pte Ltd to revolutionise gym strength performance. Weighing less than 35g, it is capable of providing accurate and real-time muscle analysis and deriving more than 15 data metrics, including muscle expansion/contraction, range of motion, stability, control, consistency, fatigue level, power, speed, estimated 1 rep max, tempo, uniformity, rep count, total volume, and time under tension, among others.

Potioneer

Potioneer is a private chef/dinner booking platform with the most number of active chefs in Thailand, providing venue alternatives for unique dining experiences. They empower both young and veteran chefs with an inspirational course menu that showcases their identity to bigger crowds.

To serve higher demand from many diners, the team behind Potioneer aims to launch an “Open Table” feature in mid-2023 to enable chefs to accept reservations similar to omakase/chef’s table manner, not limiting to private group dinners.

The team strongly believes that Potioneer can be beneficial to many more chefs in the Southeast Asian region and hopes to grow the number of chefs to 20,000 by 2027.

24 Solution Group (Thailand)

24 Solution Group is a VC-backed one-stop maintenance and technician service platform based in Bangkok, removing all the hassles so that clients can spend more time on mission-critical business operations. Especially for business accounts, 24 Solution Group’s service extends to areas such as material marketplace, inventory management, and predictive and preventive maintenance with the integration of their computerised maintenance management system. Today, they provide a spectrum of complex and specialised services in interior, renovation, and maintenance services.

Unlike other platforms, they are not just a matchmaker between clients and agents but a real end-to-end service provider. Recognising that property maintenance is an elaborate practice that requires specialised knowledge, they have a dedicated team that controls the process from start to finish, ensuring that their services are of the highest standard. Today, their ecosystem holds more than 500 active fixer teams and 500 material vendor stores.

treasure

treatsure is a mobile platform connecting businesses with surplus food to consumers to tackle food wastage. Users can purchase a takeaway buffet-in-a-box from $10 or surplus groceries up to 80% off.

They are a Singapore-based startup tackling the problem of food wastage through its innovative technological solutions. Its flagship product is a mobile platform connecting hotels and grocers with surplus food to individual consumers. In 2018, treatsure created Asia-Pacific’s first takeaway buffet-in-a-box concept in collaboration with global hotel brands. In 2019 and 2020, treatsure also ventured into surplus and sustainable groceries respectively. In 2021, it started an offline concept store. The company also offers educational experiences and collaborates with corporate and governmental partners to drive sustainability lifestyle awareness and adoption.

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.

Also read: See how GHARAGE is empowering travel and retail at Echelon

Wallet Codes

A one-stop platform for gamers to buy digital vouchers with ease and redeem them in peace, Wallet Codes offers a wide variety of over 50 digital top-up vouchers and gift cards at affordable prices, including Mobile Legends, PUBG UC, Steam, iTunes, Nintendo, and many more.

Wallet Codes’ top priority is to facilitate fast, secure, and convenient transactions on its platforms across all payment modes. Additionally, registered users will be enrolled in their P Points loyalty reward program with any purchase. The accumulated points can be used to redeem any product available on the platform. The highlight? There are no expiry dates or redemption periods. Furthermore, Wallet Codes also offers B2B partnerships for brand distributors and resellers looking to expand their portfolios.

MedsGo

MedsGo was created with the goal of making medicines and healthcare supplies convenient for Filipinos. Founded in 2023, MedsGo is a digital service that allows customers to order these items on the web. They team up with registered pharmacies and distributors to guarantee quick access to essential medical products. Their services are continually evolving, which include same-day delivery, a telephone health line, and an online prescription option.

It is MedsGo’s ambition to become the principal e-commerce provider of medical items and healthcare essentials around the Philippines. The company seeks to revolutionise the purchasing process of medications, making it hassle-free, and dispensing without the need to queue up at a store.

MedsGo is devoted to providing a simpler way of obtaining medicines and healthcare goods. With the help of their partner pharmacies and distributors, they are committed to taking care of the medicinal needs of Filipinos. They are also making every effort to expand their products and services by including health-related assistance.

Fraxtor

Fraxtor is a real estate tokenisation platform that provides bite-sized access to global real estate investment opportunities.

The Fraxtor digital platform bridges investors and real estate investment opportunities originated by private equity managers and small to mid-sized property developers.

Fraxtor promotes financial inclusion by enabling investors’ easy access to investments with a digital platform and by lowering capital outlay. Private equity funds and developers can similarly leverage Fraxtor’s digital platform as an alternative avenue to raise funds from a pool of accredited investors in an efficient manner.

To date, Fraxtor has tokenised real estate assets worth more than US$250 million in Singapore, Australia, and the UK.

EkkBaz

EkkBaz is an innovative and dynamic B2B marketplace that connects small businesses in the agriculture and food industries across developing countries in Asia, available in Bangladesh, Singapore, and expanding. The platform leverages cutting-edge technologies and data-driven financing solutions to help small businesses grow and thrive in an increasingly competitive global marketplace.

With a commitment to sustainability and environmental responsibility, EkkBaz is creating a supportive and collaborative ecosystem that empowers small businesses to reach their full potential. By facilitating connections between suppliers, buyers, and other service providers, EkkBaz streamlines the supply chain and makes it more efficient.

EkkBaz is dedicated to supporting small businesses and promoting economic growth and development in local communities. Through its partnerships with local organisations and governments, the platform is working to identify and address the unique challenges that small businesses face in different regions and to develop customised solutions that are tailored to their needs.

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

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.

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