In the ever-evolving saga of startups, securing funding isn’t just about pitches and financial projections; it’s about telling a story that resonates with investors and being the first one that they think of when the moment arrives to fuel growth. I have been in the trenches for almost a  decade now, and I’ve witnessed how startups and clients often turn their heads to PR professionals when it is time to raise funds. 

As startups kick off their journey from seed funding to series rounds, it’s crucial to recognise the significance of planning PR efforts early on. Establishing a cohesive PR strategy from the outset ensures consistent and strategic achievement of PR milestones throughout various stages.

In this article, I will explore the correlation between funding rounds and PR tactics, emphasising the need for startups to proactively map out their PR approach to secure financial support, foster growth, and enhance their positioning.

The Seed Stage: Planting the PR seed

Every startup’s story begins at the seedling stage, where the kernel of an idea is planted and nurtured. However, the early stages of a business often lack the capability to attract and entice the right people at the right time. This is where PR steps in. 

During this phase, the primary goal is to create positive visibility while establishing credibility and laying the groundwork for future fund-raising exercises. A well-crafted and consistent PR strategy can help position the startup as an industry thought leader.

Thought leadership articles, expert commentaries and strategically angled interviews for media appearances in relevant publications allow startups to showcase their expertise and demonstrate their market potential. Sharing insights on industry trends, challenges, and milestones not only sets the startup apart but also piques the interest of potential investors.

Also Read: Mastering your Growth Equation: A practical guide to dominating your niche

Moreover, PR aids in building a solid online presence through thoughtfully crafted news releases, compelling article content, and engaging social media campaigns. Startups can leverage PR to create a consistent brand narrative that resonates with both investors and customers/clients. This narrative becomes the foundation upon which subsequent funding rounds are built.

The Series A Round: Amplifying the story

As startups progress to their Series A round, they need more than just an idea; they need a story that resonates with a certain group of people. PR can help startups to step up their game by amplifying the startup’s story to a wider audience. At this stage, media exposure becomes a crucial driver of credibility and investor interest.

By harnessing the power of media relations, startups can secure coverage in industry-specific outlets, business magazines, and, more importantly, mainstream media. The right media placements can catapult a startup into the spotlight, catching the eye of potential investors who are actively seeking innovative ventures. PR professionals facilitate these connections, ensuring that the startup’s narrative is conveyed accurately and compellingly.

In addition to media coverage, events and speaking engagements, PR strategies can offer startups with opportunities to showcase their products and services to a captive audience while enhancing their profiling. PR experts can secure speaking slots at industry conferences, webinars, and panels, enabling startups’ spokespersons/founders to demonstrate their value proposition and connect with potential investors face-to-face, even in a digital world.

The Series B and beyond: Consolidating momentum

Series B and subsequent funding rounds mark a pivotal moment in a startup’s journey, representing validation of its business model and growth potential. However, with increased attention comes increased scrutiny. PR strategies need to evolve to meet the demands of more sophisticated investors.

At this stage, the PR’s role shifts from merely increasing visibility to reputation management. The startup’s brand identity and messaging must align seamlessly with its growth trajectory. It is our job as PR professionals to ensure that communication remains consistent and transparent, especially as the startup expands its operations and attracts larger investments.

As startups engage with more stakeholders, managing relationships becomes complex. PR professionals act as intermediaries, facilitating effective communication between founders, management, and investors. Timely updates, investor newsletters, and regular touchpoints keep investors engaged and informed, fostering trust and loyalty.

Takeaway: The PR-powered funding continuum

The journey from seed funding to series rounds is not a linear progression; rather, it’s a continuous cycle of growth and refinement. PR serves as the thread that weaves together these stages, connecting the startup’s evolving story with the right audience.

Also Read: Barbie-fy your business with the power of PR

The power of PR lies in its ability to amplify the startup’s voice, enhance its credibility, and nurture relationships with its target audience, including its stakeholders like the investors. PR isn’t only necessary for one stage or the other. It needs to be consistent throughout all the stages.

In today’s competitive landscape, where startups tend to vie for the attention of investors, the integration of PR into the funding journey is no longer a luxury but a necessity. The startup that embraces PR as a strategic partner will not only help it secure funding but also establish a lasting brand presence that will ultimately position itself for sustainable growth.

At iOli Comms, we’ve witnessed the transformative synergy between strategic PR efforts and startup funding rounds. The startup landscape is a challenging terrain, but with the right PR strategy, you can navigate it with confidence, turning your visions into reality, one funding round at a time.

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Smart access company igloohome recently sent eight purpose-built Space Edition Smart Padlocks to 33 kilometres above sea level via a bespoke launch vehicle suspended by a high-altitude hydrogen balloon to celebrate its eighth anniversary.

The Singaporean startup iterated more than 500 prototypes, designing them in line with seven MIL-STD 810H reliability standards to create what it calls the toughest smart padlock in the world. According to the Co-Founder and CEO Anthony Chow, padlocks’ journey to space is the perfect metaphor for his journey as an entrepreneur.

In this interview, Chow discusses the objectives behind the padlock’s Space journey, the technology behind it, and the challenges the team faced.

Excerpts:

Can you take us through the journey of developing the World’s First Smart Padlock for Space? What were the key challenges you faced during the iteration process?

While the earth’s outdoor conditions can be challenging, Space takes it to a whole new level. Imagine sending a lock 33 kilometres above the surface, where challenges like -65°C temperatures, intense UV radiation, and thin air density become significant hurdles. Our mission was to ensure Padlock 2 not only survives but thrives in these extreme conditions.

Could you elaborate on the technology behind the Space Edition Smart Padlock? What makes it uniquely suited for space applications?

The Padlock 2 has been coated with a heat-cured sandstone powder coating that boasts exceptional resilience against environmental stressors. This coating substantiates its capability to perform even in the most demanding conditions.

Also Read: igloohome raises US$15M afresh to expand its smart access solutions to real estate

Furthermore, the electronic components have been meticulously redesigned for the space edition to facilitate operation within a temperature range spanning from -50°C to 50°C, further attesting to its suitability for a broad spectrum of environments.

Tell us about the significance of reaching 33 kilometres above sea level with your purpose-built Space Edition Smart Padlocks. How does this achievement open up new possibilities for your technology?

This achievement demonstrates the robustness and resilience of our technology in the harshest conditions, affirming its capability to perform exceptionally even in extreme environments. With this, it opens up new horizons for applications, such as remote and challenging terrains where reliable access is paramount — think North America, Canada, the Middle East, the Nordics and many places with extreme temperature swings.

For example, we are working with large enterprises in these areas, which require us to deploy our enterprise software platform iglooworks, to manage thousands of these smart padlocks in remote sites.

These can be enterprises from the telco industry, mining companies, critical infrastructure installations and more, where they have tens of thousands if not hundreds of thousands of facilities spread out remotely across the country that require access to by staff, contractors, managers and more. A highly robust, reliable and resilient hardware + intelligent software solution will completely change the game for them in terms of access management.

Developing over 500 prototypes is quite a feat. What were the major breakthroughs or pivotal moments that led to the successful creation of the Space Edition Smart Padlock?

The inception of the Padlock 2 platform commenced over 1.5 years ago. We’ve embarked on a journey to redefine the concept of a smart padlock, crafting a product of unparalleled durability and dependability. Our relentless pursuit led us to subject the product to rigorous trials, including 7x US Military grade reliability assessments encompassing physical shock, exposure to saline water, and extreme temperature variations.

Following these tests, we conducted more than 300 user trials from consumers to businesses, distributing samples across North America, Europe, Southeast Asia, and Australia for extensive real-world evaluation. Through numerous iterations and meticulous refinement, we have reached the design that stands before you today.

Could you walk us through the launch process? How did you ensure the secure attachment and functionality of the padlocks during the high-altitude balloon journey?

The locks were secured with a bespoke 3D-printed bracket, which clamped around the shackle, along with a discreet wire tether in case the lock became separated in a turbulent landing.

It is also worthwhile to note that this is done in a sustainable and environmentally friendly manner. No debris was left in Space, and everything was recovered, including the padlocks that went to Space!

For the hydrogen balloon, undyed natural latex balloons for our flights. These are biodegradable, breaking down at the same rate as an oak leaf, leaving no harmful chemicals where they land. Because of their unique design, the majority of the balloon material remains with our spacecraft and is recovered by the launch team.

Beyond space applications, how do you see the Space Edition Smart Padlocks technology influencing or benefiting other industries or everyday use cases?

The technology behind the Space Edition Smart Padlocks goes beyond space exploration, promising a significant impact on various industries and daily scenarios. The same durability that withstood the harsh conditions of Space can translate into applications such as securing high-value assets or enhancing security in remote areas.

Moreover, the technology’s resilience and smart capabilities can contribute to creating more secure and convenient access experiences in sectors like facilities management, critical infrastructure management, property management, and beyond.

One example will be helping a large kayak rental company in the Nordics (where temperatures can drop precipitously low during winter) do unmanned kayak rental with our Smart Padlock and smart access sharing software platform. We have helped them scale quickly with little manpower due to the durability and reliability of this hardware.

Another example is a large retail chain in Germany using our Smart Padlocks to secure click-and-collect locations for self-pick-up of products bought online. Temperatures in Germany can be harsh during winter, and the Smart Padlock needs to stand up to the test of snow, ice, rain and extremities of the German weather!

You might also see customers using our Smart Padlock 2 to secure their work sheds or garage next to their homes (especially in the US) or a parcel dropoff box placed outside the home porch to allow delivery people to drop off e-commerce packages. This can help change e-commerce deliveries completely!

Collaboration must have played a role in achieving this milestone. Can you tell us any key partnerships or alliances instrumental in making this project a reality?

We partnered with Sent Into Space. Sent Into Space is the world’s leading provider of commercial Near Space launches.

Founded in Sheffield in 2011, Sent Into Space has conducted over 1,000 flights to the upper stratosphere, combining cutting-edge aerospace engineering with video production and marketing expertise to create incredible campaigns.

Their engineers worked with igloo engineers to ensure the set-up was thoroughly tested before embarking on the flight.

Looking ahead, what exciting prospects does this achievement unlock for igloo? Can you share any upcoming projects or advancements in the pipeline with us?

We’re excited about upcoming projects that will harness the technology’s potential to provide even greater convenience, security, and peace of mind to people across the globe.

One example of an enterprise partner we are working with within the United States in the self-storage space manages over 500,000 storage units across the country, with many of them in remote places exposed to the weather elements of snow, rain, typhoons and temperature swings.

Our smart access enterprise software, coupled with our Smart Padlock 2, is starting to help them change how they manage access into one that is much more seamless, secure, efficient and transparent.

In addition to our smart padlocks, we offer an array of smart locks tailored for the residential market, particularly in regions like Singapore.

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Image Credit: igloohome.

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Our country is the epitome of cultural diversity that is further solidified by the many holidays that we tend to celebrate as Malaysians. Within the first quarter of 2023 alone, we celebrated Chinese New Year, Hari Raya Aidilfitri and Wesak. As Malaysians, we come from various different backgrounds, and this promotes social cohesion and harmony within the workplace and the larger society.

According to the PwC’s Global Culture Survey 2021 report, almost 63 per cent of Malaysian participants believe that their organisation has a unique workforce culture that makes them stand out from competitors.

Meanwhile, around 86 per cent of respondents said their organisational culture still should evolve in the next three to five years to succeed, grow, and retain the best talents, as it can influence employee motivation, efficiency, and productivity.

It goes without saying that embracing cultural diversity in the workplace is an important first step for businesses that want to be competitive on an international scale. Embracing workplace diversity enables organisations to tap into this diverse knowledge base and effectively communicate with customers and clients from various cultural backgrounds. Understanding cultural nuances and adapting business practices accordingly can enhance customer satisfaction and strengthen business relationships.

Cultivating unity in diversity

After being in the human resource (HR) industry for over 13 years in my career, I, too personally, have witnessed instances where diversity practice has successfully bred creativity and driven innovation to greater heights.

Organisations that understand the diverse preferences, traditions, and values of customers from different ethnic groups allow them to tailor their offerings and marketing strategies accordingly. This targeted approach builds stronger customer relationships and increases brand loyalty within the diverse Malaysian market or even globally.

Also Read: Inclusion matters: How GitHub enhances accessibility for individuals with disabilities

When individuals from various cultural backgrounds collaborate, they bring unique insights, ideas, and problem-solving approaches. This diversity of thought stimulates innovation, leading to the development of new products, services, and strategies that cater to the diverse needs of the Malaysian market.

Having the ability to view issues from varying angles can also help solve organisational and managerial problems while meeting stakeholders’ expectations in new and exciting ways. This concept is especially useful when the organisation has plans to expand its business overseas because it can improve marketing strategies by equipping the company with better cross-cultural understanding and local market knowledge. 

Promoting workplace diversity and inclusion aligns with the principles of social responsibility and equality. By fostering an inclusive work environment, organisations demonstrate their commitment to equal opportunities, respect, and fairness for all employees.

This positively impacts their reputation among customers, investors, and the larger community, positioning them as socially responsible and ethical entities in Malaysia.

However, unknown to most, unconscious biases tend to happen in the workplace more than people realise, especially if there is an apparent language barrier between peers. From my professional observation, the biases can relate to gender, age, ethnicity, and professional training, just to name a few.

Therefore, practising and adapting inclusivity will foster a sense of belonging and acceptance among employees. When individuals feel valued and respected for their unique qualities, they are more engaged and motivated in their work. Moreover, employees are more likely to stay with organisations that prioritise diversity and inclusion, reducing turnover and promoting long-term retention.

In a multicultural country like Malaysia, embracing workplace diversity and inclusion goes beyond compliance with legal requirements; it becomes a strategic advantage that enhances employee engagement, innovation, customer relationships, and overall business success.

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Singapore-headquartered SaaS healthtech company MiyaHealth has closed SGD2.4 (US$1.8) million pre-Series A extension, bringing the total investment to SGD10.4 (US$7.7) million to date.

Fondation Botnar, represented by Sagana (an impact investment advisory firm focused on human and planetary health), besides existing investors ST Engineering Ventures, Elev8, and HealthXCapital, invested in this round.

This extension follows its pre-Series A financing of SGD6.5 million and SGD1.5 million in February 2022 and August 2022, respectively.

The fresh funds will be used to expand Miya Health’s AI-driven interoperable digital healthcare solutions across Europe and Southeast Asia, starting with Poland, Indonesia, and the Philippines.

By the end of 2023, it plans to onboard more partners, including insurers, hospitals, and governments, to tailor solutions that will scale up healthcare access and efficiency in these countries and future markets of interest, such as Thailand, Vietnam, and the Middle East.

Also Read: MiyaHealth adds more funding to pre-Series A round

MiyaHealth will also expand its leadership team with strategic hires adept in commercial strategy and client servicing.

Founded in 2019, MiyaHealth helps patients choose affordable healthcare, manage their chronic illness, and improve the patient experience. It leverages AI, predictive analysis, and optimised data infrastructure to create the optimal patient experience.

Last year, the healthtech firm partnered with companies, including Bioton in Poland, to create a diabetes management platform adapted from MiyaHealth’s proprietary product, MiyaPatient and its AI-driven avatar MiyaAvatar, to help doctors manage patients remotely.

MiyaHealth is also in the final stages of closing multiple 10-year contract deals for MiyaPayor and MiyaProvider in the Philippines and Indonesia.

The firm hopes to raise Series A in Q1 2024 and continue to develop its product offerings and technological capabilities, expand its operations and partnerships, and strengthen its leadership team to scale up global health systems to serve the needs of patients.

Dr Ramesh Rajentheran, CEO and Co-Founder of MiyaHealth, said: “We believe that working together with players across the value chain is vital in tackling healthcare fragmentation. With our new hire, Kevin Yeap, spearheading commercial and customer success, we are confident that we can continue to create value for our partners as well as patients.”

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Image Credit: Miya Health

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What is the up-and-coming social media app? If you are tired of the existing options, perhaps Twine can be an alternative.

Coming from the Philippines, Twine was built to solve the main problem with social media today. As explained by Lead Strategist Patrick Zulueta, social media fatigue has become abundant for the new generation, wherein traditional users are looking for alternatives. These same users are also becoming aware of the value of their data and social networks.

The previous point has driven the rise of decentralised social media apps (dApps), but these apps are lacking the key element of connecting others in the network, he says.

“Twine was created with the ambition to provide better connections and, ultimately, drive greater value for the social economy. We are confident of achieving this by partnering with decentralised social networks and apps to utilise the Twine engine, which houses our proprietary personality analytics and token mechanism,” Zulueta writes in an email interview to e27.

Using Twine, users can discover their unique personality archetype and predict their compatibility with other circle members for work, friendships, or even dating through the use of a personality AI. They can then connect with like-minded individuals through a chat feature; they can also recommend others to their social circle.

In the future, Twine is developing a feature that will allow profiles to provide recommendations and interests for certain brands and services, enabling brands to interact with users who are to promote their offerings.

Also Read: Over 350,000 social media impressions via e27 help push Lalamove’s unique offerings

“Our team has a combined 20 years of marketing and advertising experience. In the past, we’ve used sales methods based on behavioural frameworks such as Myers Briggs to identify what products, services, or even personalities a certain individual might prefer,” explains Zulueta.

“We were then inspired to share our learnings to provide meaningful connections to individuals and brands. Thankfully, we’re also blockchain builders and developers, so we tokenised this into a ‘Personality NFT’. That today is Twine.”

Behind the platform

The idea for Twine started in 2019 when the team first realised the gap in social media space where more superficial traits such as age and gender were used to distinguish one user from another.

“The proposed idea was to serve the uncatered dating market searching for long-term relationships with an intelligent personality algorithm. Hence, Twine–originally Matcha–was born,” says Zulueta.

Fast forward to 2022, the team developed a more concise personality test based on the Myers-Briggs framework and the proprietary algorithm that will be able to predict a match between two people based on their personality scores. The concept had also evolved into attaching an NFT to a user’s personality and building the social graph on-chain.

“Twine aims to partner with other decentralised social protocols and apps to amplify how they provide more value and connections to their users. This is through Twine’s proprietary personality analytics and token mechanism,” says Zulueta.

Also Read: Rising trend in Vietnam: Young professionals embracing social media content creation

“In the near future, we intend to develop integration points for other social apps and networks to utilise the Twine personality algorithm.”

Twine also reveals that the rest of 2023 will be spent on validating the ad model hypothesis, further developing the project’s capabilities, and developing our minimum viable community (MvC).

The company is currently enrolled on Archipelago Labs’s ALAB Incubation Program, which includes another AI-based company Ridge. It is self-funded with some help from its F&F round.

“We aim to raise a seed round after some key metrics and milestones are achieved within the first half of next year,” Zulueta closes.

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Image Credit: Twine

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