Singapore-based digital private debt platform Kilde has 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.

With SafeBay, Kilde aims to provide a full range of credit products compliant with industry regulations and can operate on the blockchain. In partnership with the Algorand Foundation, SafeBay will establish a regulatory-compliant infrastructure that bridges off and on-chain fixed-income capital markets. This approach lays the groundwork for a secure and compliant financial ecosystem.

Safebay is planned to launch to the public in Q3 of 2023.

Also Read: Singapore’s workforce management platform Hybr1d nets US$3.2M

“To date, we have witnessed a surge in interest in private credit investments in 2023 from the family offices and HNWIs. Greater liquidity from investors allows us to focus on larger deals and negotiate better terms,” said Radek Jezbera, CEO of Kilde.

Founded in 2019, Kilde is an investment platform tailored for individuals and institutions. Investors can subscribe to bonds issued by Kilde’s borrowers, granting them entry into a diversified portfolio of consumer and SME lending companies. The security of the bonds is reinforced by cash-generating collateral in the form of receivables from the underlying loans.

Kilde holds a licence from the Monetary Authority of Singapore to deal in capital markets products and is registered as an Exempted Financial Adviser under the Securities and Futures Act.

—

The post Kilde nets US$1.12M to introduce a new treasury management system on blockchain appeared first on e27.

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

Tina Di Cicco co-founded two travel tech companies, led the founding team of two airlines, and led businesses at Lufthansa and IHG. She has diverse experience growing B2B and B2C early and mid-stage companies, driving market expansion in Southeast Asia, Hong Kong, and Macau.

Currently, she leads Avaya Ventures, an advisory firm on travel technology, aviation and scaling up businesses in Southeast Asia.

Di Cicco is on the board of the Manila Angel Investors Network and chairs its Gender Lens Investing Committee, an initiative devoted to generating investments in women-led startups.

She is also in boards and mentorship programmes, including German Accelerator, StartUp SG Network (Enterprise SG), Plug and Play Tech, New York University (NYU) Singapore, and Murdoch University.

Additionally, she co-founded the Philippine Chamber of Commerce in Singapore.

In this edition, Di Cicco shares her take on angel funding.

Edited excerpts:

How do you typically approach investing during a funding winter?

Due diligence is a constant practice, regardless of funding season or industry or investment amount or geography. We ensure we have conversations with the consumer, the supplier and the team before we write a check.

In a low season, we’d revisit our assets and check where it makes sense to increase our exposure or wait out the situation. We try to be rational, and we remind ourselves not to succumb to fear and anxiety. Keep calm and stay the course.

In reality, anxiety wins; cash conservation rules the day. And, yes, we still invest but selectively, in startups that are revenue-generating and those that we have really studied well and double-checked.

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

First, I ask myself these questions:

• Is it a business model with high potential? Will it work? Will it survive?
• Is the leadership driven and with technical competency and lots of humility? Do the founders know what they are doing? Are their ears to the ground, their minds open?
• What is the company they keep? Who supports them? Who are their investors or stakeholders?
• Do I understand the industry and geography?
• And quite importantly, is there an attitude of paying it forward and doing the right thing versus just making money? In short, will the product or service help people heal the world?

Then, I look at our strategies.

Number one is we stick to the knitting. We tend to invest where we understand the business or co-invest with domain experts who we trust. The speed of innovation in the industries I know is already supersonic, and to take that a notch higher by understanding another industry can diffuse our focus.

In the same breadth, we invest in geographies we know. At the airlines, when I was launching destinations, I would have all the data and information about a city, but until I landed there and touched the ground, I really don’t know the place.

Also Read: Founders should act as custodians of investors’ capital: Jed Ng of Angel School

Second, we ask ourselves, what is the problem, and is this the solution? We dig deep into this question, scan the market players and see how scalable the business is. The startup can be the first mover or a challenger or an innovator, or even a late entrant. As long as there is a growth trajectory, we think there is a place in the market with the right product and sound strategies.

Third, we look at the founding team. Having founded and co-founded companies, I know the joys and rewards of cohesive teams, as well as the challenges when they are not in sync. We look for driven leadership, diversity in teams and, most importantly, coachable Founders.

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

We are LPs in some Asia and US funds, and those are pretty straightforward processes where the fund experts craft the investment portfolio. I also join investor groups such as the Manila Angel Investors’ Network, Keiretsu Forum, Launch.co, and a number of others, and that’s the fun and exciting part!

I get to tap the collective knowledge and wisdom of the group, which helps me decide whether to invest or not. Sometimes I lead the syndicate, especially when I see a high-potential startup and when I resonate with the Founder and the business.

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

There’s quite a list, but two things are our compass: product-market fit and scalability. Does the value proposition solve the problem, and would customers be willing to pay for it? Is there a path for the startup to get a dominant market share?

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

When flying a plane, you need a pilot with technical competency who has the determination to fulfil the mission of reaching the destination and the mental readiness to course-correct when the situation changes. That’s about the same with a founder. You need the competency, passion and vision to steer the company and deliver value to investors.

In addition, it’s important for us to have a founder who is coachable and who recognises the value of experts in the field.

Also, in 2022, only three per cent of VC capital globally went to women-led startups, and that’s a huge gap in gender equity in capital deployment. We believe in diversity and equality, so we are paying more attention to female founders and finding ways to support gender equality in investment.

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

After wrapping up our hospitality tech company, my husband and I started an edutech company long before it was sexy. We partnered with a CEO to run the business, who did well, but there was friction and disagreement around vision and operating styles.

We were fighting, and the company was in peril. My husband made the painful decision of divesting our majority shareholding to keep the peace and save the company. It was painful.

But a few years later, the company was acquired, and we exited quite nicely. What made that investment successful? We took the emotion out of the picture and focused solely on aligning interests and supporting growth.

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

When we were building our first startup two decades ago, the imagery in my mind was like the wild west. You meet someone in a bar, deliver your elevator pitch, and the guy in front of you dispenses money to get you started. Was that a myth? I think the principles are still the same.

Startups need to articulate the value proposition in short and crisp language, understandable to a layman. Some investors review 10+ pitch decks a day, and for a startup to get a piece of that mental real estate, the pitch has to be memorable and clear. We once met with a brilliant pedigreed founder, but she regurgitated extravagant words that we got lost in the conversation.

So short, crisp and clear. And do spell-check your pitch deck and fact-check your data.

How important is the alignment of values between the investor and the startup Founder?

As investors select their startups carefully, so should founders with their investors. Perhaps, easier said than done, especially when the founder needs the money to develop the product or go to market. But an alignment of the vision at the onset, while it may be time-consuming and tedious, will help ensure the investors’ support of the startup over the long term.

Also Read: I use strategies such as diversification to manage risks: Blockchain expert Anndy Lian

We find that alignment comes organically, especially when the investor understands the industry, its challenges and idiosyncrasies and are able to appreciate the startup’s journey.

With us, alignment in diversity and inclusion is important. As ex-founders, we realise that these values are critical in a successful workplace. Groupthink is the nemesis of innovation, while diversity creates new perspectives.

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

We manage risks by investing in startups that are already revenue-generating. This gives us the proof of concept and a certain level of confidence. We also use a signalling approach, essentially who is writing checks, who are behind the startup, who are advising them.

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

Founders nowadays have a wealth of resources on what to do and not to do when raising funds. From founder’s institutes to accelerators and incubators, the nuggets of wisdom are a-plenty. But I think it all boils down to three things: feet on the ground, due diligence all the time, and love your investors!

We saw founders who believed their own press, forgot to check reality and had to, sadly, sunset their startups. People will get excited about the product and say wonderful things to you and about you, but the real measure is when that check gets in the bank.

On due diligence. In the frenzy and excitement of startup life, founders will miss one or two details in the books or lab or data security. My advice is not. In the early stages of a company, the little items we miss can lead to big mistakes or losses. Get someone you super trust for this, or do this yourself, but do due diligence all the time.

Lastly, your investors are your number one fan. Their mission is to make you succeed in your venture so you can deliver value to them. Talk to your investors, engage them, ask for their support, whether it’s a ‘like’ in your post or an email intro to a big client, and send them updates even when their questions can sometimes be annoying to you.

Quite importantly, don’t bad mouth them. We’ve seen some who do this. Investors talk to each other. Word gets around.

—

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 Your investors are your number one fan: Tina Di Cicco of Manila Angel Investors Network 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.

As awareness about the climate crisis continues to increase, we begin to see investors considering elements of ESG (Environmental, Social, and Governance) in deciding a potential investment. One example of such an investor is venture capital firm Monk’s Hill Ventures.

Speaking to e27 in an interview, Susli Lie, Partner at Monk’s Hill Ventures explains ESG as having origin in the public equity side as a way to identify “a basket of companies” that have ESG-related components to it. Later on, the language also permeated the fund management space, including venture capital, as a way to describe “a broad stroke approach” to capture environmental and social sustainability as well as social and governance issues.

“We view ESG as an additional layer of consideration that will be on top of our existing investment process, how we engage with founders and companies,” she explains.

“In addition to financial and commercial considerations, we think that it’s actually value-adding to have non-financial considerations as well, as it relates to the planet, the people, how things are done, how organisations are grown, and how companies are run, from a governance standpoint. It’s something that we’ve always thought about.”

Monk’s Hill Ventures formalises this approach with its latest fund, and Lie is ready to explain more about how they view this issue at Echelon Asia Summit 2023. Set to be held at Singapore Expo on June 14-15, Lie will appear on the Forward Stage on the second day of the event in a fireside chat with e27 Co-Founder and CEO Mohan Belani.

Also Read: ESG empowerment: Fueling Malaysia’s SMEs for a sustainable future

The shift towards ESG

So how do Monk’s Hill Ventures’s LPs react to this approach? According to Lie, while the LPs welcome the new ESG policy, for many of them, it is yet to become a requirement for a potential investment. This is because the LPs themselves are coming up the learning curve in terms of their role as an LP with an ESG approach.

“Broadly speaking, I think people and organisations who allocate to VCs are becoming more aware that this is something they need to look out for. That this is something that they should encourage the organisations they invest in to think about,” Lie says. “If you look at the trend, we’re seeing regulations come out; we’re seeing all kinds of accounting standards that are related to ESG that companies have to comply with.”

While a lot of these requirements and tools are mostly targeted at large public companies, it has started to trickle down to private equity and VC firms, the space that Monk’s Hill Ventures operates it.

“We understand as fund managers that the world is moving in a certain direction, where these things are becoming more important. In some ways, we’re anticipating a particular industry trend that’s already pushing in that direction. Simultaneously, we also believe that this is the right approach to consider as we scale and grow companies.”

Also Read: Why Quest Ventures believes that the human-centricity of ESG investing will be more apparent

How this impacts startups

“We’re by no means an impact investor … [but] I want to make sure that the companies understand that there are investor resources available to help them get educated about this, to help them translate what that means in the way they run their companies, to help them communicate what they’re doing,” Lie explains.

Certainly, we would like to understand how this policy is going to affect the companies that Monk’s Hill Ventures are looking to invest in.

“Traditionally, people care a lot about managing and mitigating risks. So what damage are you doing to the environment? How much greenhouse gas emissions, waste are you producing? What are you doing with that, and how do you treat your people? Those things are all very important, and we track those as well. But we also understand that when we work with companies, there are sometimes ESG-related opportunities that could also lead to commercial success,” Lie says.

For Monk’s Hill Ventures, their role as an investor is to help and partner with its companies to begin thinking about what their approach to ESG should be.

“From an investment process standpoint, the entry point where I begin engaging companies to talk about ESG is once we are seriously considering an investment opportunity. Many of them may be somewhat unaware or have a very minimal ESG mindset. For some, they are a bit more evolved or may have created functions within the organisation to think about ESG. They may be a bit further ahead,” Lie explains how they are introducing the ideas of ESG to companies.

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

“Our job as an investor is to help them establish a baseline of how they’re performing on the ESG front and help them think about how they may want to improve that over time. After we’ve offered a term sheet and before closing, I typically run an internal process on ESG to do the baselining. For many companies, there is no expectation of right or wrong or where they need to be because every company is different. But what I do with them is, at least, socialised the idea of what ESG means, how it can potentially be helpful for them.”

Once these companies become a Monk’s Hill Ventures portfolio, the firm will work with them to track specific quantitative metrics. Over time, it hopes to work together with them to identify patterns and use that information to develop products or new revenue streams based on the information that they have.

Echelon Asia Summit 2023

This year’s Echelon is a great opportunity for you to meet experts such as Lie and learn from them!

Echelon Asia Summit 2023 is happening on June 14-15 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.

—

Image Credit: Monk’s Hill Ventures

The post Echelon: How increased emphasis on ESG elements in fund management will affect early stage startups 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.

Since the official announcement of Echelon Asia Summit 2023 went live, we have seen off-the-chart inquiries and a huge amount of interest coming from regional and global companies wanting to showcase their products and solutions at the event.

Today, we are proud to welcome over 130 tech companies, startups, corporates, and government agencies coming from the global tech and startup scene as our exhibitors at Echelon Asia Summit 2023.

Also read: Echelon: Unlocking global growth opportunities with Web3

At a glance, the participating companies and organisations leverage Echelon Asia Summit 2023’s platform to achieve their objectives, ranging from regional brand awareness, exposure to investors, meeting new clients, or forging new partnerships.

With the exhibition booth, the participating organisations will not only be able to have a strong offline presence but also showcase their products and solutions while meeting and connecting with potential business partners on the ground.

From Echelon to the world

Going beyond just a physical space, each exhibitor also receives holistic branding opportunities through company mentions in online articles, press releases, individual social media shout-outs, and logo placements on the event’s official site.

The exhibitors also get the chance to take part in some of our exclusive and private fringe activities, such as private roundtables, networking sessions, business matching, and premium workshops.

The driving force behind Echelon Asia Summit has always been to bring the entire ecosystem together to network, discuss, collaborate, and partner up to move the ecosystem forward. With the promising lineup of exhibitors this year, we are looking forward to creating a vibrant and high-energy event space, showcasing exciting ideas, fruitful conversations on things happening right now, and new and exciting partnerships being forged.

Head over to https://e27.co/echelon/asia/exhibitors/ and check out some of our exhibitors. Get ready to spot and note down some interesting companies to drop by their booth at the event!

Echelon Asia Summit 2023

Get to know these brands 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.

Also read: Meet the 18 investor-judges for this year’s TOP100 Program

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: It’s official, all exhibition booths are SOLD OUT! appeared first on e27.

As we navigate through the midpoint of 2023, it is essential to reflect on the significant innovation trends shaping Southeast Asia’s landscape. These innovations are not just transforming the region’s business and economic environments but are also moulding future career opportunities for the next decade.

Here, we have extracted wisdom from several leaders on the On Call with Insignia podcast, drawing their experiences and perspectives to shape a clearer picture of these exciting trends.

AI beyond GPTs: Careers tied to data value chain

The democratisation of AI capability acquisition brought by models like GPT hinges heavily on the presence of high-quality, relevant data. The future seems particularly promising for organisations that are rich in structured, quality data, potentially transforming AI experiences. This means careers tied to building and leveraging tools to tap into these data sets and develop hyperlocalised or customisable applications will be in greater demand in this decade.

Data sets and the ability to leverage these for AI applications are the new moats for software companies. Christian Schneider, CEO and co-founder of data processing and workflow automation platform Bluesheets, shares on our podcast: “Having that data infrastructure in place is key, and that’s going to be a deciding factor as to who’s gonna own industries in the future, it’s going to be those companies who have the best data sets, the richest data sets, the ones that are most complete with the least anomalies and incompletion in general.”

Experienced humans are still needed to guide AI development. Dino Setiawan, CEO and co-founder of supply chain financing and SaaS for Indonesia’s FMCG MSMEs AwanTunai, shares on our podcast: “Deep learning models need tens of millions of data points and users, and only a few companies have access to these data sets…​​understanding risk management is critical before building science models that can surpass human performance. And to get the right set of variables and proxies, experienced humans need to guide AI engine development.”

Agriculture beyond farm-to-table: Careers in farming and fisheries

The innovations in agriculture are seeing a shift towards the upstream and middle chains. There’s a rising demand for increased productivity, efficient distribution, and a stable supply-demand equilibrium, which points towards promising career opportunities in these industries, as businesses seek to increase income generation from these sectors by disrupting production, pricing and distribution inefficiencies.

Also Read: From crunching numbers to transforming data: How I made a career switch from accounting to tech

Fisheries Iron Triangle in Indonesia is being funded and built out, showing promise for jobs in this sector. Bayu Anggara, CEO of Indonesian cold chain fisheries startup FishLog, shares on our podcast: “For this fisheries digitalisation, it’s very exciting because I think in terms of all of the agritech space in Indonesian fisheries [is in a] very strong position. They have multiple business models, unique business models, right? So actually, we can focus on two things.

The first one is any kind of solution or any kind of technology that can increase the productivity of the farmers. Then you give the IoT technology to increase their productivity, and then at the end, you can purchase their harvest. The second one is a model like FishLog, right? How can we increase the utility of the middle chain?”

Fintech beyond fintechs: Careers in unlocking financial services for companies

As the financial industry continues to mature in Southeast Asia, fintech is becoming a key driver for many businesses. Even from a venture capital investment standpoint, it continues to be one of the more resilient sectors amidst the current market headwinds.

However, it’s not just the pure fintech companies that are benefitting from this trend. Now, businesses in other sectors are harnessing fintech to streamline operations, optimise efficiency, and offer better services to their customers. Roles or functions dedicated to unlocking these functionalities will be critical even for non-technology companies.

Also Read: How you can future-proof your career in a rapidly changing world

Solutions for interoperability, risk management, and infrastructure will be important for fintech to truly be “everywhere”. Jui Takle, Strategic Development at Tonik, shares on our podcast: “What it lacks is interoperability between the digital banking platforms and payment systems, which is a major obstacle in the growth of digital banking in Southeast Asia. Interoperability allows seamless transactions between digital platforms and systems, just like how it is in India with UPI. In any ecosystem, the first thing that develops is payments, and then the rest follows. So I would say that there is still some time for Southeast Asia to mature.”

Building for company sustainability: Careers in finance, cybersecurity, and monetisation strategies

While risk management and sustainability have traditionally been the responsibility of company boards, in today’s tech-driven world, these areas require specialised expertise. As such, there’s a growing demand for professionals with skills in finance, cybersecurity, and monetisation strategies. These roles are essential in helping businesses navigate challenges and ensure long-term sustainability.

Finance functions in the driver’s seat of businesses. Joel Leong, CMO of finance OS for businesses Aspire, shares on our podcast: “Basically businesses have had to readjust themselves multiple times in these two years. And I feel like all of this kind of brings finance back to the driving seat of the business.”

Southeast Asia’s startups are shifting from acquisition innovation to monetisation innovation and the experimentation necessary to do the latter efficiently. Gita Prihanto, COO of Indonesian P2P fintech Flip, shares on our podcast: “Also in line with what we’ve seen right now with the economy, this year is going to be a definitive year where I’m excited to see how technology companies innovate to scale monetisation, especially in the Indonesia consumer market, because the current economic and market conditions definitely put pressure to everyone and to all tech companies.”

Market expansion : Careers in unlocking new markets

The desire to expand into new markets is a shared goal for many Southeast Asian companies. While the region offers abundant opportunities, venturing beyond its borders can bring additional rewards, especially in markets that are also rapidly growing (i.e., similar pain points) and have massive market potential.

However, cracking new markets often requires a nuanced understanding of local needs, culture, and business environments. Thus, roles focused on market research, localisation, and business development in international contexts are becoming increasingly crucial.

Latin America as a destination market for SEA startups: Hernan Kazah, Kaszek Ventures Co-Founder And Managing Partner, shares on our podcast: “I think the kind of gaps or underserved markets that we have in Latin America are similar to those that you may encounter in Southeast Asia. So if someone is solving something for the education sector or for the distribution sector or something around healthcare in Asia, probably the same problem is in Latin America. So then, how you apply that solution to that market, you might need to adjust things here or there, but I think the root of the problem is probably the same one.”

Japan as a destination market for SEA SaaS/software startups: Shinji Asada, CEO and co-founder, general partner of Japanese SaaS VC firm One Capital shares on our podcast: “I see it’s probably a hard market to crack because of the language barrier and the cultural barrier, but at the same time, it’s a big market. It’s the third-largest economy in the world. Especially around enterprise software, it is the second-largest market after the United States. Let me give you some figures. It’s about 280 billion on an annual spending basis, and a lot of that is dominated by legacy software that I just mentioned when I was using it at ITOCHU. So it’s a low-hanging fruit [market] if you have a great user interface experience.”

The seven innovation trends identified in the first half of 2023 indicate the potential for significant career opportunities in the Southeast Asian tech industry over the next decade. These areas – from AI to fintech to risk management – highlight the region’s dynamic nature and its willingness to embrace new technologies and ideas. The expert insights shared in this podcast reaffirm the vast potential of Southeast Asia as a thriving hub for innovation, entrepreneurial growth, and career advancement.

Full list of trends in this article.

—

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

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

Image credit: Canva Pro

The post 5 careers emerging from Southeast Asia innovation trends in 2023 appeared first on e27.

Joel Neoh, Co-Founder and former CEO of fintech platform Fave, has been appointed as the Managing Director of CircleDNA, a wholly-owned subsidiary of Prenetics Global, a genomics and oncology company listed on the Nasdaq.

Neoh will also be taking on the role of Prenetics’s Chief Consumer Officer.

The appointment comes when CircleDNA is undergoing a transformative phase expanding into new verticals and introducing a wide range of personalised healthcare offerings to its customers.

CircleDNA is extending its scope to encompass preventive and personalised healthcare management, with plans to forge local-country partnerships and integrate a comprehensive range of services, including blood tests, telehealth services, tailored supplements, and online-to-offline healthcare services. Over the next 12 months, the firm will introduce these new products and services.

Also Read: TradeMonday gets SenseTime backing to expand its retail analytics solutions

“As an entrepreneur who has received significant support, particularly in Southeast Asia, I strongly desire to contribute back to the community by promoting health and emphasising the importance of preventive care,” shared Neoh.

Founded in 2014 to transform patient care through advanced genomic and molecular technologies, Prenetics has operations in Hong Kong and the UK, processing over 28 million PCR and at-home test kits. Prenetics was listed on the NASDAQ in 2022.

CircleDNA, the consumer health business of Prenetics, facilitates individuals in actively managing their health through valuable health insights derived from their DNA.

Since 2020, CircleDNA claims to have served over 300,000 customers worldwide with its DNA tests using whole exome sequencing technology. Its mobile app grants customers access to a wide array of genetic information, with over 500 reports across 20 categories, covering disease risks, drug responses, family planning, diet, common health risks, personal traits, and nutrition, among others.

As of March 31, 2023, Prenetics holds US$224.1 million in cash and other short-term assets.

—

The post Fave Co-Founder Joel Neoh to head Prenetics’s consumer health subsidiary CircleDNA appeared first on e27.

It had been a while since I returned to my home country Indonesia. As part of my pre-departure packing routine, I sent a text to my mother to confirm something that I never thought I would ask before: Should I bring some cash?

And her answer was something that would not sound plausible five years ago: Bring a small change, just in case.

Back in 2015, when I first joined e27 as Junior Correspondent, Indonesia is widely known as a cash-heavy market. Some tech companies such as DOKU aimed to introduce e-payment in the market, but their progress was limited. The market remained heavily reliant on cash, with the use of debit and credit cards limited to outlets in glitzy malls. Back then, if anyone told me that there would come a day when people would be able to use e-payment to buy food in street stalls, I would be extremely suspicious (and my ancestors would roll in their graveyards).

But last week, as I landed in Jakarta, I realised that what was once impossible is now a reality in the country. The use of e-payment is finally part of our everyday lives.

Also Read: Fintech in Indonesia: While growth declines, companies continue to gain traction

Indonesian e-payment landscape today

Like any good Indonesian, the first thing I did upon landing was to visit my favourite street food stalls. I was expecting to get my wallet out to pay for my portion of nasi uduk, but surprisingly, there was absolutely no need for them. Right there on my table was a small placard containing QRIS–Quick Response Code Indonesia Standard–belonging to this particular stall. As I finished my dinner, customers repeatedly grabbed this placard to make payments.

Of all the visitors that came and went that night, I believe only a few actually used cash to pay for their food.

This brought me to the days when Go-Pay and its competitors OVO and TCASH began what might as well be known as the launch of the Indonesian e-payment future. Before these platforms, the use of e-payment services was limited to a select few. But these platforms turned e-payment into something widely popular, and they were able to do it by reaching out to the grassroots community: Street food vendors, ojek drivers, and warung owners.

In short, Go-Pay, OVO, and TCASH were able to secure their positions in the market because they were able to initiate digital transformation in a community that was commonly seen as “unbankable”.

But as in many countries, the use of e-payment services did not fully take off until the COVID-19 pandemic. It was as if Indonesia had begun tinkering with it before the pandemic, but now they were pushed to delve fully into it.

But right before the pandemic forced us to stay indoors and cancel whatever plans we had, in May 2019, Indonesia introduced a platform that enables this digital transformation to accelerate fully: QRIS.

Also Read: How voice AI is revolutionising the fintech scene

“The aim is to universalise cashless payments in the country through a system that integrates all those digital payment apps people have installed on their smartphones. One code to rule them all,” The Jakarta Post wrote in an editorial in February.

“BI has been pushing QRIS ever since, working with commercial banks, e-wallet providers and businesses to get ever more merchants to put up the code for customers to scan, down to the level of street vendors.”

The article proposed that with its relatively low transaction fee, and the ease it provided to vendors, there is a possibility that the use of QRIS might even threaten the popularity of mobile wallets–the very platforms that have helped Indonesia to get to where it is when it comes to the use of fintech services.

So, what is next?

Honestly, I think it is quite extreme to say that the use of QRIS might threaten the popularity of mobile wallets.

In November 2022, an InsightAsia report declared Go-Pay as the most popular mobile wallet in Indonesia with 71 per cent of mobile wallet users using the platform, according to CNBC Indonesia. This number was closely followed by cash (49 per cent), bank transfer (24 per cent), QRIS (21 per cent), pay-later (18 per cent), debit card (17 per cent), and virtual account transfer (16 per cent).

From these data alone, despite Bank Indonesia’s effort to further accelerate the use of QRIS (which includes an expansion to Malaysia), it might take a while until Indonesians are ready to give up their favourite mobile wallets. Besides, we know that Gojek is not going to sit and watch it happens. Now that the company is publicly listed, there will be a greater push for the unicorn to improve the performance of its mobile wallet.

In the meantime, I am going to enjoy the fact that Indonesia has made progress in its effort to transform itself digitally. It is the kind of good news that we have been waiting for.

I am also going to buy my second helping of mie Aceh in a nearby stall for the second time in the last few days.

—

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 After QRIS, what is next for the Indonesian e-payment ecosystem? appeared first on e27.

While Cindy Nyoto Gunawan and Tiffany Danielle struggled to find high-quality beauty products in Indonesia that resonated with their different styles and personalities. Most premium products available in the local market were exorbitantly priced. Upon research, they discovered that many others also encountered the same problem.

“We aspired to create a brand that offered premium, yet affordable products, ensuring they were accessible to everyone, not just the well-off. Everyone deserves access to quality beauty products, regardless of income,” says Gunawan.

That was the beginning of Rosé All Day Cosmetics (RADC).

Launched in 2017 by Gunawan, Danielle, and Samantha Wijaya, with their combined savings of US$10,000, RADC is a Halal-certified D2C beauty brand that provides consumers with diverse makeup and skincare solutions, from innovative, skin-loving formulae to timeless classics. It introduced what it claims to be the first refillable eyebrow pencil in Indonesia.

Gunawan says RADC stands out for its emphasis on sustainability. “We’re committed to a shift towards eco-friendly skincare, demonstrated through our rebranding with packaging made from recyclable materials. This sustainability focus will soon extend to our new makeup products. We emphasise recyclable and refillable products.”

Also Read: Creative Gorilla Capital rolls out US$20M fund to back D2C startups in Indonesia

The startup has started implementing these sustainable practices with its skincare line and plans to extend them to its makeup products.

According to her, the company collaborates with original equipment manufacturer (OEM) partners to produce its cruelty-free and vegan makeup and skincare solutions. It maintains “full transparency” about the ingredients used in its cosmetic and skin care products, enabling consumers to make informed choices about what they put on their skin.

She admits that while cruelty-free production incurs more costs, RADC doesn’t compromise quality. “We place great importance on environmental sustainability and are dedicated to making our products accessible to all. Yes, these commitments pose additional challenges, especially when trying to keep our makeup affordable, but they’re challenges we are proud to embrace.”

Primarily targeting females aged between 17 and 34, RADC sells its products online (via its own website and marketplaces) and offline (through stores like Sephora and Sociolla). While 60 per cent of its sales come from online platforms, offline channels contribute 40 per cent.

Its product pricing ranges from US$3 to US$12.

In 2020, the company raised undisclosed seed funding from AC Ventures and GIA Venture.

Competition with Korean brands

Global offline brands have a significant presence in Indonesia. However, these brands, including many popular Korean ones, often aren’t affordable for the masses, claims Gunawan. RADC focuses on innovation, and competitive pricing, and maintains high-quality standards to compete effectively. “We adapt our products to local preferences and market needs, which is a crucial part of our strategy.”

The startup’s biggest dream is to grow globally. It sees immense potential in showcasing an Indonesian brand on the international stage and wants to prove it can stand shoulder-to-shoulder with global competitors and excel.

Gunawan claims the company grew 4X in 2022, primarily driven by its omnichannel strategy. Its goal is to achieve 6x growth in 2023 and is on track to reach this goal. “We plan to continue leveraging our omnichannel strategy, refining our product offerings, and deepening our connections with consumers to deliver exceptional and satisfying beauty solutions.”

While its key focus remains Indonesia due to the vast market potential, RADC also plans to branch out into new markets in Southeast Asia, starting with Malaysia.

Surviving COVID-19 and economic slowdown

RADC has faced a few notable challenges throughout its journey. The first major challenge was the COVID-19 pandemic; surviving it amidst a halted beauty and cosmetic industry required strategic adjustments. It implemented budget cuts on its marketing spending and decelerated the release of its new products. Its primary focus shifted to growing its online sales, a significant part of its sales even before the pandemic.

“Although our offline sales dropped to 10 per cent, our online sales continued to thrive. Despite the crisis, the beauty and cosmetic industry remained robust, and interestingly, our colour cosmetics, a majority of our SKUs, continued to sell well. This resilience enabled us to achieve a 2x revenue growth even amidst the pandemic in 2020,” Gunawan notes.

Also Read: ‘Lack of the right team could break your business’: FreshToHome Founder shares his lessons

In 2022, it experienced supply chain issues that posed significant hurdles. Additionally, finding and hiring quality talent while maintaining sustainable growth has also been a considerable challenge.

The current slowdown in the market also poses massive challenges but it also presents opportunities. “A significant focus in the beauty industry is environmental sustainability, with constant innovations emerging. We’re committed to staying at the forefront of these developments, continually adapting and innovating to align our products and processes with sustainable practices,” Gunawan wraps up.

—

The post How cruelty-free, Halal-certified D2C cosmetics brand RADC achieved 4X growth in 2022 appeared first on e27.

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.

Also Read: How cruelty-free, Halal-certified D2C cosmetics brand RADC achieved 4X growth in 2022

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.

The other startups pitched at the demo day were Beseek, Cocojack, Kita, MyDeliva, Odar, SAPOT, and TigerCampus. They pitched their ideas to a panel of judges, including Freda Liu, a celebrated author and broadcast journalist; Bikesh Lakhmichand, Founding Partner of 1337 Ventures; and Alpha Startups alumnus and Vircle founder Gokula Krishnan. 

All the startups from the recent cohort will receive perks up to RM80,000 worth of digital credits from Google Cloud, CloudMile, Airtable, Swipey, Notion, Stripe, and WORQ. 

The latest cohort of Alpha Startups is supported by MRANTI, Digital Penang, WORQ, and Google. 

—

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 Manis Leting, Triphie win 1337 Ventures’s Alpha Startups pre-accelerator programme in MY appeared first on e27.

As the dreary funding winter soars, at e27, we are kickstarting a new article series Line of Hire to understand a company’s culture and hiring philosophies to empower tech workers with the right growth tools to enable business owners to attract talent.

Madhura Moulik is a marketer, entrepreneur, DEI advocate and angel investor.

With close to two decades of experience, she enables startups and SMEs of any size or industry to drive sustainable change and impact through digital transformation with Skilfinity, her entrepreneurial venture, and lately, KarmaV, an AI-based SaaS platform that improves an organisation’s diversity, equity, and inclusion (DE&I) status.

A technology and marketing professional by vocation, she spent almost half of her professional life with corporates, in various roles establishing processes and functions for APAC, EMEA and the Americas.

What personality traits/qualities do you look for in potential employees?

Understanding the integrity of the person is critical while hiring. Most other skills can be developed or nurtured during the tenure of the employment, but if the person lacks integrity, it can pose a significant risk in achieving the organisation’s growth.

Evaluating analytical skills is also critical during the interview process since it is the key to the essential problem-solving ability of the person. Building a high-performing team and achieving sustainable growth can be more straightforward if we can understand these two qualities of the candidate and foster the same amongst the existing workforce.

How do they fit into your company culture? Tell us a little more about your company culture.

KarmaV is operated by a team of individuals in varied time zones and caters to customers on three continents. To build a truly global company with borderless operations, we must take complete ownership of our work and maintain 100 per cent transparency with the rest of the team.

We emphasize that every team member is accountable and committed to their role. Hence, despite this diversity and geographic challenges, we strive to deliver high-quality solutions to our customers.

How do you foster transparency and encourage achievement in the workplace?

We are a lean team with the privilege of shaping the culture as we work towards common business and functional goals.

Lead by example; the ownership is with the leadership and people managers to be honest and respectful with the team members. Encourage the team to step up in someone’s absence, own their mistakes, and behave ethically under high-stress situations. KarmaV believes in an open-door policy where constructive criticism and feedback are appreciated.

The organisation celebrates individual employees’ successes, and it also gets translated into rewards and inputs for career growth. The objective is to avoid stereotypical celebrations and pay attention to personal preferences that suit their personality type.

Do you have a mental health policy? What does that look like?

Our policy is to be more inclusive that support employees in every aspect, including mental health. The approach ensures that all employees have access to equal opportunity, anti-discrimination, and human rights standards.

We encourage employees to talk openly and spread awareness about mental health challenges. KarmaV allows employees to take extended time-offs and ease back into work without stress or burnout with heavy work pressure.

WFH or WFO, or hybrid?

WFH but employees are welcome to come to the office if they wish. According to us, this provides more choices and greater flexibility for the employees.

How should a tech worker prepare for the funding winter?

Industry leaders should be more cognizant of economic downturns and resort to realistic and ethical hiring practices. Each tech professional’s responsibility is to upskill themselves and remain relevant in the job market.

While organisations also look at the larger picture and invest in empowering their workforce with improved individual branding and technology skills. Improved employee advocacy can have a long-term positive impact and help save time and money to build trust and establish a brand in the market.

How do you measure the performance of your employees?

While we use Management by Objective (MBO) to set clear expectations and set measurable goals to track progress, we pay attention to personalising the thresholds and include behavioural attributes in the performance assessment process.

Will you consider a moderately skilled person with great honesty or a highly skilled person with less honesty when hiring?

As they say, skills can be acquired, but attitude can’t!

Since integrity is our critical criterion while hiring, we always choose honesty over other skill sets. However, the candidate should qualify for the minimum screening factors and be willing to learn as per the role’s demand.

Do you encourage ‘intrapreneurship’ in your organisation?

As most of our employees are individual contributors, we want them to take more ownership and be action-oriented like entrepreneurs. Lean teams and startups such as KarmaV have high regard for “intrapreneurial” qualities.

How do you support upskilling for your employees?

Team members are part of various professional forums and attend events and courses that help them gather new insights and share them with the broader team. This creates an incredible learning ecosystem that builds a habit of being more curious about various subjects and aware of the advancements.

—

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 The ownership is with the leadership to be honest and respectful: Madhura Moulik of KarmaV appeared first on e27.