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.

Legal tech is a promising sector in the global startup ecosystem. While there are already several unicorns in the market, there remains plenty of room to grow. This can be seen from the fact that many of the unicorns in the legal tech space are originating from either the US or Europe, as can be seen in this list of top six legal tech unicorns of 2023 by Failory.

This brings our mind into the Southeast Asian (SEA) tech startup ecosystem. There is certainly an opportunity for startups in the legal tech space to seize in this market, due to the universal nature of the sector–where there is law, there is a potential need for legal tech solutions.

But for legal tech companies to rule the market, there are several hurdles that they have to face.

For example, in the company’s blog, Juro CEO and Co-Founder Richard Mabey lists down the top five misconceptions about the sector. The number one in his list is the misconception that the use of AI in legal tech solutions will eventually take over lawyers’ jobs.

“Arguably no term has attracted more column inches, when it comes to the business of law, than ‘AI’. The rush to deploy machine learning algorithms, natural language processing and other technologies to legal isn’t new – it started decades ago – but the difference between what’s promised and what’s possible has created uncertainty when it comes to its impact on headcount,” he writes.

“The reality is different. Mercifully the streets aren’t filled with lawyers who’ve been replaced by artificial intelligence. Instead, AI’s transformative power is being leveraged primarily to tackle low-value process work: reading PDFs and searching through emails.”

Also Read: Legal tech platform INTELLLEX raises US$2.1M funding round led by Quest Ventures

To deconstruct these misunderstandings about the legal tech space, we have Cherilyn Tan, CEO and founder of Tessaract.io, to speak in a fireside chat moderated by Elise Tan, Director, Communications & Community, Vertex Ventures Southeast Asia & India.

Speaking on the Forward Stage on June 14 at 02.55 PM SGT, this session will look at the challenges that a legal tech company faces and how Tessaract aims to face them.

Taking legal firms to the future

Launched in 2018, Tessaract.io is a no-code B2B SaaS technology provider aiming to assist professional services firms across the region in automating repetitive operations and focusing on priorities that deliver a better experience to their customers. Its solutions include the Tessaract.io platform and the TessaCloud document management system (DMS).

Tessaract.io platform allows end-to-end management of various workflows, including project tasks, schedules, sales leads, customer relationships, and accounting and reporting. The TessaCloud DMS, on the other hand, features enterprise search functionality with built-in Optical Character Recognition and secure digital signing via SingPass.

All of its products are integrated with third-party cloud providers such as Amazon Web Services or Azure.

In August 2021, the Singapore-based startup raises US$3.3 million to expand workflow automation solutions in new markets. Led by Wavemaker Partners, the funding round also included the participation of PE firm CMIA Capital Partners, M Venture Partners, and angel investors such as Anand Swaminathan and Doug Parker.

Also Read: Going solo: Legal considerations for starting a small business in Singapore

As of 2021, the platform has established partnerships with a clutch of IT-managed service providers such as Singapore-based Stone Forest and government agencies, including the Inland Revenue Authority of Singapore, Accounting and Corporate Regulatory Authority, and Infocomm Media Development Authority.

In an interview with Legal Business Online, Tessaract.io speaks about how government-funded initiatives make the path to technology adoption in the legal sector easier.

“The Tech-celerate for Law programme has made it easier for companies to start their digitalisation journey,” the company states.

“Grants in Singapore have been a strong factor pushing the adoption of technology among law firms. Due to COVID-19, the need to go digital has been further increased and with that the government has extended and enhanced the availability of grants.”

This kind of external support might be just what legal tech companies need in order to able to secure users, win the market, and realise their true potential.

Echelon Asia Summit 2023

Get to know these experts 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.

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.

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Image Credit: Tingey Injury Law Firm on Unsplash

The post Echelon: A move to deconstruct misunderstanding in the legal tech space appeared first on e27.

Velocity Ventures’s new programme to connect corporates with startups

Southeast Asia’s leading travel and hospitality tech investor Velocity Ventures launched a subscription-based corporate partners programme (CPP), connecting corporates with thousands of startups for co-investment in innovative tech solutions.

The programme aims to help corporates build an open culture of innovation while offering them flexibility across three different subscription tiers: Lite, Core, and Pro.

Focusing across five technology verticals — F&B, travel experiences, accommodation, transportation/mobility and travel services, the VC firm is adding this new offering to extend opportunities for partners to gain innovation insight, work with travel tech startups on pilots, and make co-investments and/or acquisitions.

Beyond making capital investments, Velocity Venture’s CPP offers access to 1,000-plus startups providing innovative solutions for sector-specific pain points.

Accelerating Asia invests in ten cohort-8 startups

International early-stage VC fund Accelerating Asia announced an undisclosed investment in ten new companies joining the Cohort 8 of its flagship programme.

This capital injection was made from its US$20 million Fund II, launched in 2021. Cohort 8 is the fourth batch of investments for Fund II, which will deploy capital across Southeast and South Asia pre-Series A startups.

The startups that raised funding are Pattern (Pakistan, SDG 8), Lemonade (Global, SDG 10 and SDG 13), Lister (Indonesia, SDG 4), Edutechs (Bangladesh, SDG 4), Fullfily (India, SDG 8, 11, and 13), On Demand Deals (the Philippines, SDG 1, 8, 9, 10, and 11), Sova Health (India, SDG 3), Proton (United Arab Emirates), Sparklehaze (Singapore, SDG 9), WEGRO (Bangladesh, SDG 1, 2, and 8). They hail from various industries, including education, e-commerce, logistics, insurtech, and agritech.

Antler launches new US$285M emerging growth fund

Singapore-headquartered sector-agnostic global seed-stage VC firm Antler announced the final close of Antler Elevate, a US$285-million emerging growth fund.

The names of the investors haven’t been disclosed.

Managed from offices in London, Singapore, and New York, Antler Elevate invests in companies from Series A onwards across over 20 ecosystems. The fund has already invested over US$70 million in 30-plus companies, including Airalo (an e-Sim marketplace in Singapore), Earlytrade (a liquidity marketplace for the construction sector), and Two (a purchase financing solution for B2B e-commerce).

TNL Mediagene to list in US via SPAC merger

TNL Mediagene, a digital media firm in Asia, announced a business combination with Nasdaq-listed blank-cheque (special purpose acquisition) company Blue Ocean Acquisition Corp to go public.

The transaction gives TNL Mediagene a pre-money enterprise value of approximately US$275 million.

The transaction, subject to customary closing conditions, including the receipt of certain regulatory approvals, is expected to close in Q1 2024.

The new entity will build TNL Mediagene’s presence in Japan, Taiwan and Southeast Asia. It will expand its brand portfolio of millennial- and Gen Z-targeted Chinese, Japanese and English digital products and widen the reach of its AI-driven analytics, advertising and marketing technology products.

Sequoia India & SEA rebrands as Peak XV Partners

Sequoia India & Southeast Asia, a leading VC firm in the region managing over US$9.2 billion across 13 funds, was rebranded as Peak XV Partners.

The rebranding has come after Sequoia Capital (US/Europe), Sequoia China, and Sequoia India & Southeast Asia have decided to become independent firms with distinct brands.

While the parent (US/Europe) fund retains the name Sequoia Capital, the China-focused fund has been renamed as HongShan.

Peak XV was the original name given to Mount Everest and symbolises the relentless pursuit of audacious goals by startup founders.

Kilde raises US$1.12M funding

Singapore-based digital private debt platform Kilde secured US$1.12 million in seed funding from Big Sky Capital, Borderless Capital, AXL ventures, Algorand Foundation, and undisclosed angels.

With this money, Kilde aims to enhance its features, scale operations, and expand its market reach.

The fresh funds will also empower Kilde to drive the development of its newest flagship project SafeBay, a new treasury management system. This system, built on blockchain technology, is designed to help blockchain-native companies manage their short-term financial assets.

BIV hits first close of New Protein Fund II

Global foodtech investor Big Idea Ventures (BIV) made the first close of its alternative protein fund New Protein Fund II.

AAK, a multi-oil ingredient house specialising in plant-based vegetable oils and fats, and Bühler, a solution partner for the food processing industry, have joined other investors for the initial funding round. Both companies also invested in BIV’s first fund NPF I.

New Protein Fund II will invest in early-stage startups around the world both through its accelerator programme and direct investments. BIV runs an intensive five-month programme of its Paris, Singapore, and New York offices.

NPF II aims to close the targeted US$75 million within the next 12 months.

Khazanah leads PolicyStreet’s US$15.3M Series B round

Malaysian insurtech company PolicyStreet announced today it secured US$15.3 million in a Series B round of investment led by sovereign wealth fund Khazanah, under its Dana Impak mandate.

Altara Ventures, Gobi Partners, and Spiral Ventures also co-invested.

PolicyStreet intends to use the funds to strengthen its technology and underwriting capabilities. It aims to increase its on-demand underwriting policies to make protection more accessible and better tap into underserved and underinsured audience segments in Malaysia and the region.

Alpha Startups’s programme announces winners

Manis Leting and Triphie won 1337 Ventures’s latest Alpha Startups pre-accelerator programme in Malaysia.

As part of this, the two startups will receive pre-seed funding of up to RM50,000 (US$11,000) each.

A total of nine aspiring Malaysian startups showcased their solutions in front of a live audience of investors, industry experts, and fellow entrepreneurs during 1337 Ventures’s Alpha Startups pre-accelerator programme. The demo day was hosted at Google Malaysia, marking the culmination of the programme.

Manis Leting, founded by Amirah Jasmine and Atirah Danial, creates healthier alternative food products that use zero white sugar. With the funding received from 1337 Ventures, the firm plans to focus on licensing and certification, production, operations, and marketing to scale.

Triphie, started by Nour Araar, is an AI-enabled all-in-one, personalised and collaborative trip planning platform that helps travellers discover, plan, and book their holidays.

SenseTime invests in TradeMonday

TradeMonday, a Hong Kong-based AI-powered retail analytics startup, closed a new round of investment from leading AI firm SenseTime.

The details of the funding remain undisclosed.

The investment will enable TradeMonday to accelerate its growth and R&D efforts and expand its retail analytic product offerings and ChatGPT B2B retail solutions.

Founded in 2016 and graduated from the Cyberport Incubation programme in 2019, TradeMonday helps businesses make product, market and shopper recommendations. It turns the digital footprint of retail consumers, brands and products, such as social media, in-store traffic and transaction data, into actionable insights and empowers businesses including retailers, consumer brands and shopping malls, in simulating top-line growth strategies.

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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.

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The post Top 10 news articles e27 published this week appeared first on e27.

It’s a funding winter for some and a healthy reset for others. Reality has set in across the global startup ecosystem after many years of cheap money have finally come to an end.

Venture funding has continued to fall in the first quarter of 2023, according to CB Insights. In Asia, it dropped by 27% from the same quarter last year, to $12.5 billion. Deal counts and deal sizes have decreased too, as investors are questioning some still high valuations, especially for late-stage companies.

Startups are forced to trim costs to become more sustainable businesses, they need to use their cash and working capital more effectively and renegotiate contracts to extend their runways. VCs, meanwhile, are busy salvaging the companies they invested in, supporting founders during the rightsizing. 

While the current slowdown is challenging and painful, there’s also reason for optimism, especially in this region. Crises have traditionally been the moments where foundations for future success have been laid and new champions were created. And these moments often make for great stories.

In a gold rush, sell shovels

Today, an increasing number of multinationals are moving parts of their production and assembly into Southeast Asia and India, diversifying their supply chains and reducing dependence on China. The inflow of investments drives the region’s economies and is creating at the same time opportunities for both investors and founders.

A VC who focuses on the transport and logistics sector told us that they have recently seen great business momentum. The industry requires continued innovation as it needs to modernise. Environmental concerns have moved to the top of the agenda for many companies, as investors and regulators are pushing for a greener transport sector.

Also read: Echelon: Learning the investor’s language for funding success

Global VC funding in clean energy startups has increased significantly over the last three years, jumping more than sixfold to $12.3 billion in 2022, a study by consultancy Oliver Wyman showed. Battery storage and renewable energy have been the leading areas. APAC’s share—with 14% of the global total—is still relatively small and mostly concentrated in China, Japan and Australia. It leaves us with some room for the upside in this part of the world.

Other areas such as cybersecurity, B2B solutions, as well as health and biotech remain attractive for VC investments, KPMG found. Firms that develop generative and conversational AI have even attracted high valuations recently, led by OpenAI.

Welcoming new investors into the ecosystem

Several non-traditional investors have joined the space over the past years, from pension and hedge funds to corporate VCs, wealth managers and family offices. During the long period of low, near-zero interest rates, these investors were looking at early participation in the private market and a possible lucrative exit via IPO. 

Venture debt, which allows startups to raise money without diluting their controlling stake, has become popular. In APAC, this form of debt grew fourfold to $12.1 billion from 2018 to 2021, as per Aletheia Capital and Alta’s private credit report. As traditional lenders retreated, non-bank lenders such as family offices have stepped up. They have again slightly pulled back in recent months.

While investor types might have changed, a basic principle of investor communications hasn’t. The relationship between startups and their investors will still be based on trust and sincere connection between the partners. It’s the great chemistry that can steer the ship through ups and downs. Communication, like in every relationship, is the bond that holds everything together.

Master the art of storytelling

People will remember your stories before they remember your pitch. That is why, a single piece of content like a news release often only has limited effect when it comes to media and stakeholder outreach.

In a changing media landscape, good relations with editors and journalists still matter. Those connections can benefit a startup or a fund, especially in a region like Southeast Asia that is big on relationships. Let’s also not forget that PR is a very cost-effective way to build a company’s brand and credibility, show transparency, and ultimately create trust with stakeholders.

Also read: Unlocking potential: The evolving role of corporate accelerators

In a fragmented market like APAC, brands need a mix of regional and local public relations strategies. It’s all about thinking regional but staying local after all. Regional, because the overarching message has to be consistent across markets, and local because it is only through thorough understanding and familiarity with cultural nuances, relevant issues affecting local industries and the local media landscape that communications can truly be compelling and engaging with local media. 

It’s important to keep the marketing machine running and engage with stakeholders, especially in difficult times. AI firms can still claim high valuations, not least because they can tell a convincing story. And a well-told narrative can have a significant influence on the valuation. Preserving cash is vital, but communications should not stop.

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Photo by Monstera via Pexels

The post Challenging periods are the best time to invest—here’s why you need to get the word out 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.

Startups are the engines of innovation and progress, driving economic growth and transforming industries. However, the journey from a promising idea to a thriving business is riddled with challenges. One of the most critical factors that can determine the success or failure of a startup is its ability to secure funding.

Startups often require substantial financial resources to develop and refine their product or service offerings, build infrastructure, hire skilled talent, and execute effective marketing strategies. Funding provides the necessary capital to invest in research and development, production, and scaling operations. It accelerates the pace at which startups can achieve critical milestones, such as market penetration, customer acquisition, and revenue generation. In essence, funding serves as a catalyst for growth, propelling startups forward on their path to success.

Also read: These 5 investor-judges will help select the TOP100 winners

Beyond capital injection, seeking funding opens doors to a plethora of resources and expertise that can be invaluable to startups. Investors bring not only financial backing but also their industry knowledge, experience, and networks. They act as mentors and advisors, offering strategic guidance and helping startups navigate the complexities of building a business. Access to this wealth of resources can provide startups with a competitive edge, enabling them to make better-informed decisions, forge strategic partnerships, and leverage industry connections for growth and success.

Securing funding, however, is not an easy task. Thankfully, Skills Bridge is bringing their exclusive workshop, “From Noise to Nod: Learning the Investor’s Language for Funding Success,” to guide startup founders on how to make a strong impression when meeting with investors.

What is this workshop all about?

Skills Bridge is a training and development company that specialises in providing soft and hard skills development courses to help business professionals excel in their career development journey. They bridge the gap between entry-level and managerial roles by enhancing skills and knowledge.

During their workshop, participants will gain valuable insights into how to conduct themselves effectively in an investor meeting. Skills Bridge will help equip participants with the knowledge and skills to navigate these crucial encounters with confidence. Entrepreneurs, founders, and even business enthusiasts will learn the art of answering questions posed by investors, mastering the ability to provide concise and compelling responses that leave a lasting impression. 

Additionally, they will guide you in understanding the importance of research and asking the right questions, to gather crucial information and demonstrate your preparedness and commitment to success.

Also read: Meet 14 more contenders for this year’s TOP100 program

Discover the power of effective communication with Skills Bridge’s immersive workshop on conveying confident communication and presence, where you’ll strengthen your verbal communication skills, deliver impactful presentations, and develop an engaging online presence on LinkedIn. 

They will walk you through a step-by-step process and help you define your unique value, identify your target audience, and create a compelling personalized story. Explore effective communication strategies for online and offline platforms. Don’t miss this transformative opportunity to update your approach to Funding Success. 

Some of the key areas they will be focusing on are the following:

• Strengthening verbal communication: Skills Bridge will help you structure your answers with precision and finesse, leaving a lasting impression on anyone you interact with.
• Delivering impactful presentations: They will help you master effective verbal communication, utilise appropriate voice and tone, and leverage body language for engaging presentations.
• Gathering key information: It is essential for your investment journey to identify crucial factors such as the fund’s investment strategy, track record, portfolio companies, management team, and fund performance. 

Join the workshop at the Echelon Asia Summit to unlock your funding potential

Don’t miss this opportunity to transform your fundraising approach and propel your business to new heights. Join them at the “From Noise to Nod: Learning the Investor’s Language for Funding Success” and impress every investor you talk to! The workshop will be happening at the Echelon Asia Summit 2023 at Singapore EXPO on June 14-15.

Reserve your spot today! Click here to register now and learn what investors are looking for when they meet with founders.

Also read: DARe: Connecting Brunei startups with the world

Featuring a slew of speakers, exhibitors, business matching sessions, pitching stages, and more, the Echelon Asia Summit 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.

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Photo by MART PRODUCTION via Pexels

The post Echelon: Learning the investor’s language for funding success 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: Learning the investor’s language for funding success

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: Challenging periods are the best time to invest—here’s why you need to get the word out

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 Payoneer as one of its sponsors for the 2023 edition of the Echelon Asia Summit!

Meet Payoneer at Echelon Asia Summit 2023!

Payoneer (NASDAQ: PAYO) is the world’s go-to partner for digital commerce, everywhere.  From borderless payments to boundless growth, Payoneer promises any business, in any market, the technology, connections and confidence to participate and flourish in the new global economy.

Since 2005, Payoneer has been imagining and engineering a truly global ecosystem so the entire world can realise its potential. Powering growth for customers ranging from aspiring entrepreneurs in emerging markets to the world’s leading digital brands like Airbnb, Amazon, Google, Upwork, and Walmart, Payoneer offers a universe of opportunities, open to you.

Also read: These 5 investor-judges will help select the TOP100 winners

“The Payoneer mission is to empower anyone anywhere to participate and succeed in the global digital economy. We want to connect with the SMB, SME, and startups to help them grow and expand their business globally,” shared Yannan Zhou, Marketing Lead at Payoneer.

Their participation at this year’s Echelon Asia Summit is going to entail potential collaborations and networking opportunities with the goal of creating a collective impact in the global payments space. Payoneer hopes to support businesses from Southeast Asia and help bolster their efforts to empower their growth and expansion plans.

Join Echelon Asia Summit 2023

Get to know Payoneer 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 Payoneer: Global payments pioneer will be at this year’s Echelon appeared first on e27.