The Voluntary Carbon Markets Integrity Initiative (VCMI) is an international non-profit organisation with a mission to enable high-integrity voluntary carbon markets (VCMs). In case you are not familiar with it, VCM is a concept that allows carbon emitters to offset their emissions by purchasing carbon credits emitted by projects targeted at removing or reducing greenhouse gas from the atmosphere, according to an explanation by the European Energy Exchange (EEX).

In late June, the organisation published a Claims Code of Practice, which will give companies a rulebook to follow for making credible climate claims.

As awareness of the importance of decarbonisation continues to increase among global business players, there is an urgency to have a guide that can help businesses in making their claims. This Claims Code clarifies the complex landscape of VCMs by providing companies with a rulebook for high-integrity voluntary use of carbon credits and associated claims.

“The voluntary carbon market is one tool that can mobilise the much-needed finance to low and middle-income countries towards climate solutions that will accelerate the net-zero transition. It’s not too late to drive progress, and the VCMI Claims Code released today is a welcome step forward,” says Razan Al Mubarak, UN Climate Change High-Level Champion for COP28, during the launch of the initiative.

But what benefits can tech startups get from this initiative, and how can they make use of this opportunity? Raffaella Infanti, Engagement Manager at VCMI, gives e27 all the details in an email interview. The following is an edited excerpt of the interview.

Also Read: The Radical Fund hits first close of US$40M climate tech fund, targets early stage SEA startups

Can you tell us more about the process of developing the Claims Code?

The Claims Code is the culmination of over 12 months of road testing by companies, public consultations, and multi-stakeholder collaboration. The process has been informed by input from leading non-profits, VCMI’s Steering Committee, its high-level decision-making body, as well as guidance from VCMI’s Executive Advisory Group (EAG).

These bodies include experienced VCM voices, such as indigenous and civil society leaders, independent net zero experts, corporate sustainability leads, governments, regulators and academics.

Following the publication of the provisional Claims Code in June 2022, we went through feedback on what was needed to improve. We had over 130 responses to the subsequent consultation, and nearly 70 companies took part in the road test.

The Claims Code will be released in two parts. The first part, published on June 28, is the core Claims Code, an operable claims code that companies will be able to follow and check that they have everything in place in order to make a claim.

Releases after June 28 will build on what is already contained in the Claims Code and will be prepared in consultation with our Stakeholder Forum. These will make the Claims Code more accessible for different types and sizes of organisations by introducing additional claims tiers and an on-ramp.

The Claims Code is part of an evolving process, whereby VCMI must respond to new science, policy, and regulatory requirements – which, since the Claims Code is paving the way for regulation, VCMI supports.

Can you give us more details about the claim process?

The Claims Code has three tiers of claims that companies can make –Silver, Gold, Platinum– each of which recognises investment in GHG emission reductions and removals above and beyond corporate action to meet their science-aligned targets. This work will be supported by additional guidance in November 2023, specifically on the VCMI Measurement, Reporting and Assurance (MRA) framework, additional claim tiers and claim names.

Also Read: Beyond buzzwords: How climate tech startups can create an impact in green recovery

The Claims Code consists of four steps that a company must undertake to make a VCMI Claim:

1. It must first meet VCMI’s Foundational Criteria, which serve as the backbone of an ambitious and robust climate strategy

2. It must then select which VCMI Claim to make Silver, Gold, Platinum

3. To make a claim, the company must select carbon credits which meet stringent quality thresholds in line with the Integrity Council for Voluntary Carbon Markets (ICVCM) Core Carbon Principles (CCPs)

4. Finally, the company must disclose information to support its claim and conduct independent validation and assurance in line with the VCMI MRV and Assurance Framework (to be published in November 2023)

Additional claim options and information will be released in November, and we encourage businesses who may be interested in making a Claim, but who do not think they are able to meet the requirements of Silver to Platinum Claims, to stay posted for further information.

Also Read: The Mills Fabrica aims to transform agrifood, textile industries through its climate tech investments

How can tech startups in various stages and sizes make use of the Claims Code? Is there any specific approach that they should use when using this guideline?

VCMI calls on all organisations to implement the Claims Code to unlock the full potential of high-integrity VCMs. As part of the Claims Code, companies are required to publicly disclose key elements part of transition plan frameworks and globally recognised frameworks such as CDP.

While VCMI does not currently have sector-specific advice on using the Claims Code, we look forward to participation from all organisations, including tech startups, to review their foundational criteria and identify whether they are able to make a claim.

What are the benefits for tech startups in taking part in this initiative?

High-integrity voluntary carbon markets can drive action to accelerate GHG mitigation and channel finance to where it is needed most for national economic, social and climate prosperity.

By adopting the Claims Code, working towards making a Claim and complying with VCMI’s Foundational Criteria, companies across different industries are working towards ensuring climate claims are trustworthy and that their climate strategies, including the use of carbon credits, are being undertaken in a way that provides real benefits to people and nature.

This way, all companies, including tech startups, can help contribute to the global goals of the Paris Agreement by meeting their emissions reduction targets and taking additional mitigation measures.

How do you plan to introduce and promote the Claims Code to the business community?

We will continue to engage with the business community as we further shape and release additional modules to the Claims Code up to November 2023. This will be done in consultation with our Stakeholder Forum, which consists of representatives from business, government, academic/research, and civil society.

Also Read: Meet the 4 SEA startups of PepsiCo’s climate tech accelerator programme

There is a large number of organisations that are already taking part in the Stakeholder Forum and are committed to advancing the mission of the VCMI and the Claims Code.

The work of VCMI also expands on other leading initiatives and guidance in the market, including the ICVCM Core Carbon Principles. VCMI is collaborating with ICVCM to analyse the impacts of corresponding adjustments in the voluntary carbon market.

VCMI and ICVCM work together to consider how correspondingly adjusted carbon credits can be reflected in market guidance to generate coherent, end-to-end rules for the VCM market.

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Image Credit: VCMI

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Forget about the myth of unproductive remote workers. 66 per cent of hybrid and remote managers say productivity has improved since adopting the new working model, and 98 per cent now trust their team to work even on non-office days.

A new survey we conducted reveals how managers of hybrid and remote teams do so with much more ease, enjoyment, and outstanding productivity than other media has us believe.

The survey was conducted through the Pollfish panel of 200 hybrid and remote managers in the USA across all age ranges above 24 years old, seniorities, and industries. The survey ran in June 2023.

Respondents were invited using a double opt-in: they confirmed their interest, created a profile via a verification process, joined the respondent pool, and were invited to take the survey as they fit the targeting criteria.

Here’s what we learned from Myth vs Reality: Remote and Hybrid Managers Report High Productivity and Trust:

• 66 per cent of managers saw increased productivity, and 48.5 per cent said productivity has ‘significantly improved.’ Only two per cent saw a decrease in productivity. Managers said their own productivity has significantly improved (38 per cent) and not decreased (96 per cent)
• 98 per cent say they trust their teams to be productive on non-office days. Only one respondent (out of 200) said they didn’t.
• Contrary to popular belief, 77 per cent of managers find it easy, and 62 per cent find it enjoyable or very enjoyable to manage remote teams.
• Managers report that employee satisfaction and morale (60 per cent) is a major benefit of remote work, alongside a reduction in commute time and stress (54 per cent), improved work-life balance (53 per cent), increased productivity (35 per cent) and an expanded talent pool (30 per cent).
• Asked to return to the office full-time, 15 per cent of employees would consider looking for a new job, and 59 per cent would return if needed. Only 26 per cent would happily return to the office. 

Productivity has significantly improved in hybrid and remote teams

Does the media narrative strike you as overwhelmingly critical of hybrid and remote work? You’re not alone. But contrary to widespread scepticism, the survey findings demonstrate an overwhelmingly positive reality for managers embracing hybrid remote work. 

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

66 per cent of randomly selected managers experience improved performance levels, of which 48.5 per cent said productivity has ‘significantly improved,’ dismantling the belief that physical presence is essential for optimal productivity. With 31 per cent of managers saying productivity has remained the same, only two per cent saw a decrease in productivity. How’s that for a positive outlook?

Productivity, how effectively an individual accomplishes a task, is highly debated in the context of hybrid and remote working models. The results from this FlexOS survey align with studies by Microsoft and others that productivity doesn’t suffer from distributed work, but many still believe the opposite.

Measuring productivity has always been challenging, often relying on self-reporting or activity-based metrics that may not accurately reflect the desired productivity. This leads to “productivity paranoia” between companies and employees. The fact is, productivity isn’t a real challenge, and companies should embrace this.

Trust in teams is equally high

The survey also reveals high levels of trust in hybrid and remote work environments. 

A remarkable 98 per cent of managers said they’re confident in their teams’ ability to deliver results on non-office days. Wow. This goes directly against the conventional wisdom that remote work breeds doubts about employee productivity. And here’s how it breaks down: 60% said they trust their employees completely, and 37 per cent mostly. 

Managers’ trust is also supported by the fact that only 26 per cent of hybrid and remote managers use time-tracking software, and 36 per cent use productivity-tracking software. Most managers measure productivity by completed work, followed by regular check-ins. 

Ready for more remote work myth-busting? 

Contrary to popular belief, remote work has proved easier and more enjoyable for managers, with most embracing the benefits of flexibility and remote collaboration: 77 per cent find it easy, and 62 per cent find it enjoyable or very enjoyable. 

Remote teams are happier and have a better work-life balance

Asked about the key benefits managers have experienced since switching to a hybrid or remote working model, managers highlight the positive impact on their teams. Six out of 10 managers agree that employee satisfaction and morale have improved. 54 per cent tout the reduction in commuting-related stress, and 53 per cent say improved work-life balance for team members is a key benefit.

Managers also positively highlight the ability to attract and retain top talent (18 per cent) and access to an expanded talent pool with diverse skills (30 per cent). This is even more applicable for fully remote managers, who feel 21 per cent more strongly that they have an extended talent pool. 

This sentiment echoes findings from remote companies like Airbnb that they have become more attractive to more people after moving to a more flexible work model. Airbnb’s CEO Brian Chesky said, “Ultimately, I don’t believe that CEOs can dictate how people work. The market will. The employees will. Flexibility will be the most important benefit after compensation.”

Challenges do exist – and they’re very human

The above doesn’t mean there aren’t challenges for managers. There are. 

Asked what their largest challenges are in hybrid and remote team management, leaders answered universally that distractions at home bug them, especially kids and other family members. 

A lack of face-to-face interactions results in delays and miscommunication. Managers wish there were more opportunities for personal interaction because understanding and managing emotions without face-to-face interaction was mentioned as a challenge. 

In third place of the most common challenges… “wait, you’re breaking up.” Yes, it’s technological or connectivity issues. Managers told us this can be frustrating since they cannot control people’s home internet. We hear you… 

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

Technology is more important than ever

Speaking of technology: it plays a massive role in managing remote teams. 

The most commonly used technology when managing hybrid and remote teams are video conferencing (88 per cent), collaboration and document sharing platforms like Microsoft Teams (60 per cent), instant messaging tools (46 per cent), time tracking software like Time Doctor (26 per cent), and project management platforms like Monday.com (25 per cent).

Compared to hybrid managers, remote managers are more likely to utilise a dedicated Instant Messaging platform and project management tools but less likely to use time-tracking software. This builds on the previous finding that remote managers feel confident in their team doing the work. 

Companies have used wellness programs (50 per cent), knowledge-sharing initiatives (37 per cent), virtual career development (36 per cent), team-building activities (35 per cent), and dedicated ‘water cooler’ channels (31 per cent) to engage remote employees.

But if you ask remote managers, they really want more training and better technology: one in two managers want to learn more about managing their distributed teams best. A similar amount wants better technology, including project management and collaboration tools. Only 15 per cent of managers said they have all the necessary knowledge and tools.

How about the office then?

Asked to return to the office full-time, 15 per cent of employees would consider looking for a new job, and 59 per cent would return if needed. Only 26 per cent would happily return to the office. 

It’s not that people don’t want to be in an office ever. We often need a space to focus and to collaborate with our colleagues. We don’t want to be in the office constantly; this survey shows that again.

The increased importance of managers

The survey focused on managers because while the media often speaks about companies’ challenges in managing hybrid and remote work, especially CEOs like Elon Musk, solving these problems is up to managers.

 Managers play an increasingly outsized role in organisations because they create social capital and serve as connection points between upper-level leadership and employees. 

Recent Humu research back this up: effective managers are 2.2x more likely to retain top talent, create 78 per cent more psychological safety – the most significant predictor of team effectiveness, and 22 per cent higher employee engagement. 

Let’s conclude

These survey results demand re-evaluating how we think about hybrid and remote work. 

We encourage organisations to embrace remote work’s transformative potential and recognize its inherent benefits to productivity, employee satisfaction, and trust-building.

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It was late 2016, just after the United Nations Climate Change Conference in Marrakech, when I launched Hydroleap to reimagine the way people look at wastewater and the ways to treat it.

The caravan of ideas that had been brimming in my mind and underworks for a while was ready to hit the road. What I had was a vision to drive water sustainability and an intricate understanding of the immense opportunities that technology can create to propel the water treatment industry from its dinosaur-age practices. 

The most exciting part of the first phase of my journey was bringing the lab research at the National University of Singapore into the real world. Since Singapore became an independent republic in 1965, water has been a national priority because of its tiny land mass and lack of freshwater resources. The World Resources Institute ranked the country among the most vulnerable to water stress along with the arid states of Bahrain, Qatar, and Kuwait in 2015. 

With a population of over 5.6 million people and a booming industrial sector, Singapore’s water demand continues to rise. Recycled wastewater can provide for 40 per cent of Singapore’s water demand which is expected to increase to 55 per cent by 2060.

However, with climate change and geopolitical uncertainties, achieving greater water self-sufficiency becomes imperative. The tiny city-state targeting world dominance has been focused on the self-sufficiency of water and has been regarded as a poster child for effective wastewater management over the years. 

Recognising the urgency to secure a sustainable water supply, Singapore has invested heavily in pioneering water management strategies. Further, Singapore’s success in water management has been driven by its commitment to collaborative innovation.

By fostering partnerships between the government, industry stakeholders, and research institutions, the nation has transformed its water landscape. Such alliances facilitate the exchange of expertise, drive technological advancements, and expedite the implementation of novel treatment solutions.

Also Read: Beyond buzzwords: How climate tech startups can create an impact in green recovery

We, too, partnered with the NUS Environmental Research Institute (NERI) at the National University of Singapore (NUS) to develop a low-cost, low-energy electrochemical pre-treatment technology for the desalination of seawater and together were awarded SG $1.7 M by Singapore’s PUB. 

Evidently, one area with immense potential for enhancing water self-sufficiency lies in improving industrial wastewater treatment. 

Harnessing industrial wastewater treatment for self-sufficiency

Singapore’s industrial sector accounts for approximately 60 per cent of the country’s total water demand. Given the significant water usage associated with manufacturing processes, industrial wastewater treatment presents a substantial opportunity for conserving and reclaiming water resources.

One vital chapter to Singapore’s water story is ensuring comprehensive regulatory frameworks as Singapore looks to mitigate water stress and reinforce its position as a regional and global leader in water sustainability and practices. Regular audits, monitoring systems, and stringent enforcement of standards are pushing industries to adopt advanced wastewater treatment practices.

With ambitious goals like boosting its overall water recycling rate to 70 per cent by 2030, the other two key chapters are leveraging technology and reducing the carbon footprint from water treatments.

If we go back in time, conventional industrial wastewater treatment methods have often relied on the extensive use of chemicals and energy, such as coagulants, flocculants, aeration, and disinfectants, to remove contaminants.

While effective, these chemical and energy-intensive processes come with the added cost of operating, purchasing, storage, and handling and, most importantly, pose safety risks. It generates copious amounts of sludge that adds to the environmental burden. If discharged improperly, sludge can contaminate surface water, groundwater, and soil.

It can also cause eutrophication, leading to excessive algae growth and depletion of oxygen levels in the water, which disrupts aquatic ecosystems, leading to fish kills and the degradation of water quality. Toxic substances in the sludge can persist in the environment and accumulate in organisms over time, potentially entering the food chain and posing long-term risks to human and ecological health.

Aeration is a huge part of current existing plants in the secondary treatment, which uses 30-50 per cent of the power consumption of a whole treatment plant. This is exactly why a paradigm shift is needed in the way wastewater is treated. Chemical-free and advanced technologies such as electrooxidation and electrocoagulation allow for a huge advantage in lowering cost and carbon emissions.

Industries from construction to food, manufacturing, cooling towers, and desalination are all looking for ways to become more environmental in how they process the vast amounts of water they rely on for daily operations.

Food and Beverage manufacturing plants are typically large water consumers in Singapore (or even globally), comprising 60 per cent of water intake, followed by cooling towers. Palm Oil Mill Effluent (POME) is another challenge for the water treatment industry in Southeast Asia at present because of the difficulty in purifying a large amount of highly polluted wastewater.

Also Read: Collaboration with corporates plays a crucial role in climate tech startups’ success

There are a lot of success stories of industries benefiting from shifting to advanced electrochemical solutions over conventional technologies. Through our electrocoagulation solution (HL-EC), one of the largest food manufacturers in the Philippines is treating their industrial wastewater effectively by removing up to 98 per cent Total Suspended Solids (TSS), 93 per cent oil & grease (O&G) and 95 per cent phosphate as well as reducing their carbon footprint by nearly 50 per cent. Electrooxidation solution (HL-EO) is helping a huge blue-chip data centre in Singapore to save 70 per cent of its water discharges by reducing and reusing blow-down water.

The water route ahead

Beginning in 2024, Singapore’s national water agency will enforce new recycling requirements for all new projects within water-intensive industries, and more or less the same trend can be seen even in the region.

Moreover, the implementation of NEWater, the world’s first large-scale water reclamation plant, has significantly reduced Singapore’s reliance on external water sources. Similarly, the Deep Tunnel Sewerage System, which is a superhighway for used water management, has revolutionised the space, harnessing it as a resource through energy generation and nutrient recovery.

These successes serve as inspiration for future advancements in industrial wastewater treatment, signalling a path toward complete water independence.

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Startups must overcome many obstacles in order to succeed, and failing to do so could be disastrous. Therefore, it’s a good idea to enter the ring prepared with a solid understanding of how to handle these issues.

In this article, I’ll briefly discuss five potential roadblocks to company growth and offer suggestions for how to successfully overcome them.

Selecting the best Co-Founders

The success of a startup depends critically on the strength of the founding team. Find partners who share your beliefs, abilities, and areas of experience. A balanced team reduces the chance of a single point of failure by bringing multiple opinions to the table.

Find people who will contribute to your startup and who will understand your idea. Usually, it makes sense to make an active attempt to locate these individuals. In general, if you have a strong enough professional network and have worked closely with a variety of people, it would be simpler to do.

In terms of intensity and total amount of time spent together, starting a business with a partner is similar to getting married. To travel on such a voyage with someone you don’t know would be uncomfortable.

Choosing the right employees

Top startup talent is hard to come by and more harder to keep, yet it’s essential. Your success would be heavily influenced by the calibre of your team.

Consider the candidate’s compatibility with your company’s ideals in addition to their skill set. Hire people who share your goal because early team members form your startup culture. For long-term success, creating a successful and cohesive work atmosphere is crucial.

Identifying the product-market fit

One of the simplest ways for a founder of an early-stage firm to fail is to devote a lot of resources to your idea without seeking market input. Although confirming the need for your good or service on the market is difficult, it is necessary if you want to succeed.

Also Read: 7 reasons every entrepreneur should be proud of themselves

Engage prospective clients, get their opinions, and modify your offering accordingly. To identify product-market fit, regular communication and validation tests are crucial. To better serve client demands and raise your chances of success, always improve your product.

Choosing the appropriate market niche

The product-market fit has two components. When they can’t find PMF, most founders concentrate on the first one, which is the product. They refine the MVP (minimal viable product) in an effort to increase the worth of their service.

However, a lot fewer people take the market—the other half of the equation—into account. As a tiny project, it is nearly hard to have an impact on the market, but you can alter it.

Finding the ideal market segment is sometimes disregarded, yet it is essential for startup success. Choose a narrow niche with certain requirements rather than directly competing with established players. Concentrate on a demographic that can benefit from your solution and be reached by efficient means. Make sure your MVS (minimum viable segment) is well-defined.

The cornerstone for future success is establishing recognition in a particular market.

Making a big impact with little money

For a startup to survive, effective financial management is essential. Before reaching product-market fit, closely watch your cash flow and don’t run out of resources. Learn the fundamentals of accounting and keep accurate financial records.

This information is helpful when looking for funding or recruiting co-founders. To help you make well-informed decisions, be aware of your financial demands and integrate them into your business strategy.

In conclusion, companies can overcome considerable obstacles on their way to success by confronting these five issues head-on. To succeed as a startup, it is essential to assemble a strong founding team, hire qualified staff, identify a specialised market, create a product that fits that market, and handle finances wisely.

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Thai startup APX gets ORZON’s backing

APX (Asia Pallet Express), a Thailand-based trucking hub-and-spoke network, raised an undisclosed sum in pre-Series A funding led by ORZON Ventures.

The capital will be used for team expansion, penetrating international markets, and strengthening the logistic platform.

APX provides door-to-door cargo transportation services through its network with modern platforms for LTL (less-than-truckload) and palletised cargo services. It aims to build a connected truck transport network in Thailand and the ASEAN region to improve logistic efficiency while reducing CO2 emissions and the number of trucks needed on the road in the long run.

Antler expands to Malaysia

Singapore-based global VC firm Antler announced a partnership with sovereign wealth fund Khazanah to establish a presence in Malaysia.

The collaboration aims to bolster Khazanah’s Future Malaysia Programme, an initiative under its Dana Impak (Impact Fund) mandate.

Dana Impak supports local entrepreneurs, startups, VCs, and corporate venture programmes through collaborations with domestic and international partners. It plans to invest RM6 billion (US$1.3 billion) over five years in Malaysia.

Under this strategic alliance, Antler from its Kuala Lumpur office will invest in over 30 startups across Malaysia over the next three years, with the inaugural Venture Generation Program to begin in October 2023, and applications are currently open.

1982 Ventures invests in Orderfaz

Orderfaz, an Indonesian fintech startup for social commerce sellers, completed a pre-seed financing led by 1982 Ventures.

The startup will use the money to make new hires across all functions to drive platform development and market expansion. It also plans to develop an omnichannel marketplace to manage orders across Orderfaz and third-party e-commerce platforms such as Shopee, Tokopedia, and TikTok.

Orderfaz is a payment and commerce enablement platform designed to help brands and sellers improve online sales conversion rates in Indonesia’s booming social commerce market. It optimises digital sales and operations while providing sellers with increased sales through social commerce channels, lower transaction fees, and empowering brands to gain greater control over their digital businesses.

East Ventures backs SoLeLands

SoLeLands, an immersive game-based learning platform to support kids’ self-discovery, secured undisclosed funding led by East Ventures.

SMDV also participated.

The Indonesian startup will use the money for capacity building and product development in preparation for the soft launch in Q4 2023.

SoLeLands was founded in 2022 by Jonathan Prathama (CEO) and Adhi Paisoseputra (COO), inspired by the current state of parenting. The duo realised that children in today’s generations are growing up in a technology-driven society. Thus parents should equip their children with the necessary skills and values to thrive and adapt in an ever-changing landscape.

SMU’s LKYGBPC competition to be held in Sept.

Singapore Management University’s (SMU) Institute of Innovation and Entrepreneurship (IIE) unveiled the 55 finalists selected for the Finals Week (known as BLAZE) of the Lee Kuan Yew Global Business Plan Competition (LKYGBPC).

The 55 finalists will showcase their innovations before a panel of judges at the university campus from September 11-15, 2023. The grand finalists stand to win prizes worth S$2.5 (US$1.9) million.

LKYGBPC is one of Asia’s largest university-led bi-annual startup competitions, focussing on deep-tech innovators solving urgent global challenges of the 21st century.

The 11th edition of LKYGBPC received 1,000 submissions from 1,100 universities — including ETH Zurich (Switzerland), Harvard University (US), Imperial College London (UK), and MIT (US) — across 77 countries.

Eratani bags US$2M seed funding

Indonesia-based agritech firm Eratani received US$2 million in a seed extension round of funding from SBI Ven Capital, Genting Ventures, Orvel Ventures, and Ascend Angels.

This deal brings the total seed funding to US$5.8 million.

The new investment comes about half a year after Eratani raised US$3.8 million from TNB Aura, Trihill Capital, BIG Ventures, and AgFunder.

Established in 2021, Eratani integrates technology into farming operations to improve efficiency, drive sustainability, and foster growth in the country’s agricultural industry. Its solutions comprise farmer funding, supply chain management, crop distribution, and agricultural assistance. The firm claims it supports a network of 20,000 rice farmers across West Java, Central Java, East Java, Banten, and South Sulawesi.

KarirLab secures pre-seed funding

Indonesia-based KarirLab secured an undisclosed pre-seed funding round led by Alpha JWC Ventures and M Venture Partners.

The capital will enable KarirLab to accelerate its product development, expand its team, and establish strategic partnerships with leading universities and employers.

The funding will also fuel KarirLab’s platform enhancement, ensuring seamless student and employer experience to cater to the evolving needs of the job market.

KarirLab is an online platform that connects students and campuses with hiring employers.

The US$40M Radical Fund hits first close

The Radical Fund, an early-stage venture capital firm investing in the climate tech sector, secured an undisclosed first close of its US$40 million fund. The firm said it is currently in conversations with family offices, corporates, foundations and institutional investors for its fund.

The fund is backed by regional family offices from the Philippines, Singapore, and Thailand and individual investors from the US and Europe.

It aims to invest in early-stage startups in Southeast Asia (SEA) that are scaling solutions across climate adaptation and mitigation, which it believes will lead to a more resilient SEA.

It targets tech-enabled ventures in the pre-seed, seed, and Pre-Series A stages that are either based in SEA and/or have operations and presence in the region. These startups should deliver scaled commercial returns and climate outcomes to local and regional populations.

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