This article was first published on June 7, 2018. Ever since then, Indonesia has been making progress in its inclusion of digital payments in almost every retail ecosystem, including informal small businesses. The introduction of QRIS during the pandemic has contributed to this milestone. 

Since the startup’s first claim to fame in 2015, Go-Pay has always been an integral part of the Go-Jek experience. Embedded into the Go-Jek mobile app, users can top-up some amount of funds into the e-wallet feature and use it to pay for Go-Jek services from ride-hailing and food delivery to express courier.

An interesting development happened in July 2017 with the launch of Go-Resto, which aims to enable Go-Food drivers, in general, to do transactions at various F&B and merchant outlets using Go-Pay. The platform was launched with the expectation that, eventually, customers will be able to use Go-Pay for transactions outside of the Go-Jek ecosystem.

The prospect of being able to use the cashless payment system to buy food at the mall (and other daily necessities) seemed promising in a market where cash is king –and a long-reigning king, that one is.

So when Kompas Tekno reported that several street food stalls in Kebon Sirih, Central Jakarta, have begun to accept Go-Pay for payments, followed by the launch of Go-Pay at several offline and online merchants, I decided that I just had to try these myself.

So off I went on a three-day shopping trip to test out Go-Pay at various merchants.

The experience

 

Just in time for Ramadan, together with several leading retailers, Go-Jek launched a special promo that will allow users to get cashback by using Go-Pay to pay for their transactions.

Guided by the list of merchants on their site, I started off by paying visits to bubble drink outlet Chatime and bookstore chain Gramedia to test out the new service.

Also Read: Indonesian ride-hailing giant Go-Jek to launch online content production house, streaming service

There was a considerable queue at Chatime as it was near time for iftar; people in the mall were getting themselves ready by buying food and drinks.

I took the risk of being called a creep by watching every single person standing before me, and what they used to pay for their drinks. The majority of them used cash, followed by credit or debit cards, despite notification on the cashier that this shop accepts Go-Pay.

When my turn came, I asked the shopkeeper if it was possible for me to use Go-Pay. She said yes and took out an EDC machine with a Kartuku label on it.

(Friendly reminder that fintech startup Kartuku was acquired by Go-Jek in December 2017.)

The machine then printed out a piece of paper with a QR code on it. I opened the “scan QR code” part on my Go-Jek app and scanned the code. The next thing that showed up on my screen was an option to choose between the Go-Jek and Go-Life apps.

I picked the Go-Jek app and confirmed my purchase with a passcode; within seconds, my purchase was approved. I got to left the counter with a sense of victory; I liked to imagine that people were staring at me enviously as well.

The next day I decided to stop by Gramedia. Honestly, I had no plan to buy any book at the moment, so I stopped by the magazine section and got some back issues as they were really cheap.

Like the previous day, I was also the only person in the waiting line who was using Go-Pay for transactions. The lady behind the cashier even said that this was the first time she ever used it to process a transaction.

We repeated the same process as the one at Chatime, and once again, I walked out of the store excited.

My journey continued the next day to a noodle shop in South Jakarta which had been reported to accept Go-Pay as payment method. But unfortunately this is the first time I have been let down by the experience, as despite the reports, the cashier told me that the Go-Pay service is meant only for Go-Food drivers.

Also Read: Go-Jek, Openspace inject money into Bangladesh’s bike-hailing startup Pathao

I am not sure what happened here. Have I been misguided by the reports, or does it indicate the lack of communication between the noodle shop management, Go-Jek, and the staff?

No idea. But all that matters is that in the past three days, I have gotten enough materials to make a verdict.

Indonesia’s cashless revolution

If you have been using Alipay in China or ApplePay in Singapore, you may wonder: It is 2018, and someone in Indonesia is actually excited about using a QR code-based payment?

We have every right to be excited as we have been behind when it comes to the use of cashless payment methods. In the same way Go-Jek was not the first business to try to digitise ojek services, they were also not the first company to offer e-wallet service in this market. Think DOKU or Tcash.

Yet, as successful as these businesses go, they still fail to make e-wallet a must-have item in every Indonesian’s smartphone. No matter where we go, we always have a stack of cash ready in our wallet.

Let me explain to you why.

It is said that the lives of a typical Indonesian, particularly in Jakarta, revolve around the nearest shopping malls. True, we spend countless weekends and nights at shopping malls, hanging around or even just waiting for the traffic jam to calm down. But there is life outside the shopping mall, and this is why we always have a stack of cash ready.

As you move your car out of a parking lot, there will always be a tukang parkir (“Parking man”) showing up with a whistle to help you out.

You wait in a traffic jam, and a street seller shows up at your window with bottles of drinks. You decided to buy one.

You aim to take a U-turn, but the other cars and motorbikes just will not let you. A group of teenagers showed up to help you get your chance. They expect a reward, so you hand them some coins. This profession is called a pak ogah.

Once you arrive home, you realise that you are running out of sugar for your evening tea. So you walk out to a nearby warung.

These are all the kind of services provided by small businesses and individuals that are essential to the life of every Indonesian. And these services can only accept cash.

(I personally have never seen a pak ogah with an EDC machine, so yeah. These services are also the reason why vending machines will never be popular here.)

Also Read: Go-Jek to invest US$500M to support international expansion plan

Now let us link it back to the reason why previously released services such as DOKU and Tcash did not work.

Many of these services team up with retailers at the malls, which is great until the customers walk out of the mall itself.

Also, while Tcash has recently announced its plan to become agnostic, the service was previously only available for users of mobile operator Telkomsel.

I personally find it off-putting to sign up for something new. Last year the government made it obligatory for all toll roads to use cashless payment methods; only then did I actually apply for one, as provided by the bank. Because otherwise, I would not be able to use the highway.

This is why Go-Pay might actually has the chance to bring forth the cashless revolution.

Though they have also used the strategy of partnering with major retailers, they also include small businesses and street food sellers as part of their launch strategy, covering a previously untouched segment by cashless payment methods providers.

The platform also have a network of small and big F&B retailers through its Go-Food service; looking at all the services available on the Go-Jek platform, there is a strong possibility that one day we get to use Go-Pay for transactions at the cinema, the pharmacist, or the supermarket.

The e-wallet is also integrated into a mobile app that provides a core service that is even more essential to Indonesians’ lives than the malls: Transportation. (Otherwise, how do you get to the mall!?)

With an integrated service, you do not have to download another app or sign up for something with the bank. If you are lazy like me or have limited space on your smartphone, this is a great way to lure you in.

Now what?

 

So what is next for Go-Pay? Considering the fact that the service has only been launched in the past month, there is a limited number of merchants that we get to use it. This is understandable, but we are definitely looking forward to seeing more coming. Not only in numbers but also in variety. If my favourite laundry shop starts to accept Go-Pay next month, I will be a very happy person.

Also Read: Southeast Asia is setting itself up for disappointment with Go-Jek entrance

If there is anything that Go-Jek needs to work on, it is educating the customers about the existence of such a service. As I have explained in previous paragraphs, I was the only shopper in the queue line who was using the service. I talked to friends and family about my experience shopping with Go-Pay; most of them are even shocked that you can actually use Go-Pay at Starbucks.

What is the best way to educate the society about this service? I honestly do not know. Promos are nice, but sometimes people need to be encouraged by seeing a person using the service in real life. Hopefully, the person standing behind me in Gramedia will be inspired to use his Go-Pay to buy books.

The last thing I am going to say is that: Your move, GrabPay.

The post (Updated) I used Go-Pay to buy these magazines and a bubble drink. Here is why I think it’s game-changing appeared first on e27.

Though we may not talk about it so often anymore, many of us would still remember what happened at the end of 2022: When news about FTX’s collapse took over the headlines.

This write-up by Forbes might serve as a good reminder of what happened.

“The crypto market is swinging from left to right, comfortable in limited range and smooth curves. The FTX fallout in the year 2022 shook the market and turned it down. This year gave a fresh and positive perspective to major cryptocurrencies like Ethereum and Bitcoin, which gradually turned green helped by the relaxed macroeconomic situation of macroeconomic and cooling inflation,” the article writes.

“Nevertheless, the market sentiments have slowly turned from fear to greed and then to neutral.”

With the exception of those who are actively involved in the industry, some of us might wonder: So, what is the state of crypto exchanges today? Has it managed to gain (back) the trust of the general public, who could potentially be the next investors? What are the ways that exchanges are using to attract, particularly retail investors?

Also Read: With new US$100M fund, KXVC aims to help global AI, Deep Tech, Web3 founders win APAC market

On the second day of TOKEN2049 in Singapore on September 14, there was a discussion about the importance of education in acquiring retail investors on board.

According to Huobi Ventures Managing Director Edward Chen in a panel discussion, the strategy that they are taking is to focus on providing support to new users. He sees that in the case of most of its users, who are mainly professional investors, there is already a basic understanding of crypto.

“We also provide education programmes, but we usually come up with a third party.”

On being compliant

Another big theme that seems to have surfaced in the industry lately is the matter of regulation.

In August, Singapore became among the world’s first to agree to stablecoin crypto regulation. As detailed by CNBC, The Monetary Authority of Singapore (MAS) proposed framework includes key requirements such as reserves that back stablecoins must be held in low-risk and highly liquid assets.

If trust is one of the key issues that prevented users from embracing crypto and the Web3 industry from becoming mainstream, perhaps the sense of security provided through regulation can be a piece of good news.

It has definitely helped investors—in this context, VC firms—to be more confident in investing in Web3 industries.

Also Read: How to stay creative in the age of Generative AI and Web3

KX Venture Director Thanaarmates “Paul” Arriyavat, in an interview with e27 during his visit to Singapore, highlighted that several countries in SEA are more promising when it comes to becoming a hub for Web3 companies, such as Thailand and Singapore. The one thing in common between these two countries is the regulatory certainty that enables companies to operate smoothly.

“Because the rules and regulations over there are pretty forward-looking; it has a clear separation between tokens or digital asset that has utilities and security … We’re still waiting for the regulations on liquidity announcement [from the government] so that we will be able to move forward with a lot of use cases,” he stressed.

Like with many regulations, there are plenty of aspirations—and plenty of waiting. But I would like to think that, after a turbulent time, players in the crypto and Web3 space would like to have reasons to feel optimistic.

Whether Web3 will become mainstream or not, it might be up to the customers to decide.

The post Web3 industry players forge ahead after a year of challenges appeared first on e27.

Evo Commerce, a direct-to-consumer health & beauty startup based in Singapore, has secured US$2.8 million in equity and debt financing.

Shanghai-based firm IJK Capital led the round, with participation from Carousell Co-Founder and CEO Quek Siu Rui, Fave Co-Founder Joel Neoh, and Tipsy Collective.

This comes about eight months after the D2C startup announced the completion of its pre-series A funding round of US$2 million from GSR Ventures, 33 Capital, Rainforest CEO and Co-Founder JJ Chai, Wallex Co-Founder Hiro Kiga, and BrideStory Co-Founder Emile Etienne.

The company will use the money for product development and market growth. The debt financing will be used for expanding its retail presence across Asia, including renowned retailers such as 7Eleven, Guardian, and Watsons.

Also Read: Evo Commerce, parent of D2C anti-hangover solution BounceBack, nets US$2M

Evo Commerce aims to reshape the landscape of health & beauty products in the region by bridging the accessibility gap and “empowering Asian consumers with top-quality products”. The company owns two brands: back (focusing on post-party recovery aids and daily supplements) and Stryv (specialising in the affordable luxury segment for personal care electronics).

The startup claims to have achieved 25x growth in the past 18 months. It aims to achieve EBITDA profitability within the next six months of operations.

The founders have plans to raise an additional US$1-2 million before closing the current round.

Roy Ang, Co-Founder and CEO of Evo Commerce, said: “We believe that the health and beauty category is significantly underserved in Southeast Asia markets. Our mission is to enhance the lives of Asians by solving accessibility issues for these products.”

In 2022, Evo Commerce secured US$600,000 in seed funding, led by East Ventures, with notable angel investors Aaron Tan from Carro, Joel Leong from ShopBack, Mohandass from Spenmo, and Jonathan Tan from Prism+.

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Image Credit: Evo Commerce

The post Evo Commerce banks US$2.8M more for product development, Asia expansion appeared first on e27.

This article was first published on July 25, 2018. After a period of hiatus during the COVID-19 pandemic, the Nexticorn International Summit has been held for two consecutive years in Indonesia, with the latest being on September 15-16, 2023.

At a power breakfast event hosted by Indonesia’s Ministry of Communications and Informatics (Kemenkominfo) in South Jakarta today, Convergence Ventures Partner Donald Wihardja pointed out that four out of the 10 unicorn startups in Southeast Asia –Tokopedia, Go-Jek, Traveloka, and Bukalapak– are made in Indonesia.

“They were founded in Indonesia and reached their unicorn status by working in the Indonesian market,” he stressed.

However, their success was more of the exception than the rule for most startups founded in the country. Although the number of venture capital (VC) investments in the country continues to rise, it remains challenging for most early stage startups to move beyond.

This is where the government comes in with the Next Indonesian Unicorn (Nexticorn) programme.

The result of a collaboration between Kemenkominfo, Indonesian Venture Capital and Startup Association (Amvesindo), and EY, the programme aims to streamline and promote Indonesia’s most investable startups to global investors.

During another government-endorsed programme such as 1000 Startup targeted early stage startups, Nexticorn focusses on middle stage startups looking to raise their Series B funding round.

Also Read: Invest in Indonesia yesterday, says DailySocial Founder Rama Mamuaya

In addition to promoting Indonesia as a potential market, the programme also aims to connect startups with potential investors. It also aims to launch a centralised directory of startups for potential investors to browse in.

Led by Minister of Communications and Informatics Rudiantara himself as chairman, the programme’s board of advisor features prominent names in the Indonesian startup community such as Wihardja and Venturra Capital Managing Partner Rudy Ramawy.

The programme also named ADSKOM Co-Founder and CEO Italo Gani, Tokopedia CEO and Co-Founder William Tanuwijaya, Go-Jek CEO and co-founder Nadiem Makarim, as well as former OLX Indonesia CEO and ADSvokat co-founder Daniel Tumiwa as brand ambassadors.

“This event was born out of concern from industry players, which the Kemenkominfo has been listening to,” said Lis Sutjiati, Deputy to the Chairman for Nexticorn Strategy Formulation Coordination.

“Today the role of government has gone beyond regulator; it should also serve as a facilitator and even accelerator,” she stressed.

Also Read: A horse of another: Here’s the complete list of Southeast Asia’s 28 unicorns

The programme consists of three main parts: The main summit that has been conducted in Bali in May; monthly roadshows to countries such as Singapore, Japan, and the US; as well as the second part of the summit which will be held in conjunction with IMF and World Bank event in Bali in October 13-14.

The event in May has brought over 65 Indonesian startups to meet with 89 potential investors from US, Japan, Singapore, India, Australia, and South Korea. The organiser curated both the startups and investors, and the event resulted in 1,035 meetings between investors and startups with 294 follow-up meetings.

Registration for the event in October has already been opened; though the organiser did not have any specific target for the number of participating startups, they urged them to register as early as possible.

“Indonesia has a lot of potential startups, but it is tough to discover them. This is why a powerful meeting is necessary,” Sutjiati said.

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Image Credit: Artem Bali on Unsplash

The post (Updated) How Indonesia plans to close Series B funding gap among its startups appeared first on e27.

This article was first published on July 17, 2018. In March 2023, according to a DealStreetAsia report, TaniHub Group faced a “crucial hearing” in the local district court to decide the next course of action for the company following a series of legal issues. 

As the number of Indonesian agritech startups continue to grow, only several startups are able to stand out with their presence and business lines. One example of such startups is TaniGroup, which has developed the TaniHub and TaniFund platforms.

TaniGroup Co-Founder & CEO Ivan Arie Sustiawan once explained in an event that the TaniHub platform has been used actively by 680 farmer groups. Its client list has grown beyond 230 units, consisting of supermarkets, restaurants, exporter, manufacturers, and SMEs.

As for TaniFund, the platform claimed to have channeled up to IDR19 billion (US$1.3 million) to 34 projects run by farmer groups. The funding for the projects was raised through online crowdfunding and credits from several banks.

Founded in August 2016, TaniGroup itself has also raised a pre-Series A funding round led by Alpha JWC Ventures.

In order to expand its capability, this year TaniHub launched a commerce app for farmers that enables them to directly sell their products to customers. They also have another app that helps B2B customers purchase agricultural products from the farmers. The two apps were aimed to speed up on-boarding and transaction process.

“For TaniFund, we are currently in the process of expanding the farmers and supporting apps, so that farmers can use their app to receive all sorts of assistance in farming, such as weather information, polyculture method, treatment method, and many more,” Sustiawan told DailySocial.

Also Read: Agritech startup Jala comes out as winner of Top100 Indonesia Qualifier Roadshow

Challenges in the agricultural sector

 

The truth is that there are plenty of challenges in running an agricultural business, from the matter of production chain to the capacity of the farmers themselves. This is something that TaniGroup has to deal with in developing its business. According to Sustiawan, the greatest challenge that the company is facing is socialising its platform to both farmers and clients.

“It is indeed a costly and painful process, but this is something that all startups aiming to make it big have to go through. The way we explain our business process to farmers is by attending socialisation events held by Ministry of Communications and Informatics, Ministry of SMEs, Financial Services Authority, and the Central Bank,” Sustiawan said.

TaniGroup believes that soon technology will transform Indonesian agriculture system to become more productive and transparent. Sustiawan gave an example of a digital system that can help farmers increase supplies. Farmers that have worked with TaniGroup claimed that they feel benefited by the certainty provided by the platform; they felt encouraged to plant more and hire more people for their fields.

“Farmer groups that have applied for funding through TaniFund can also secure it relatively faster. In addition to providing a marketplace and lending services, technology is also able to assist farmers in choosing and optimising the right farming method,” Sustiawan continued.

With the achievements that the startup has already made, TaniGroup is confident enough about expanding beyond Java this year. It will continue to add new features, following feedbacks from farmer groups and their B2B clients. In addition to that, TaniFund also aims to reach a greater number of funding achieved for farmers, with the goal to increase the social impact, particularly in organic farming.

Also Read: More details emerge on early stage funding round for Indonesian agritech startup Sayurbox

Great opportunities remain in the agricultural sector

 

As industry players begin to recognise Indonesia’s potential as an agricultural nation, more startups in the agritech sectors are entering the market. There are indeed many problems to solve in the market; a central statistic agency revealed that the growth of agricultural sector in 2016 was only 1.85 per cent. Investment in the agricultural sector was also considered insignificant with the industry taking over 13.56 per cent of national industries.

Sustiawan welcomed the appearance of new competitors with open arms.

“We believe that there is enough ‘cake’ for everyone in the sector so that we do not have to consider each other as competitor. Our hope is for agritech startups to collaborate with each other as the biggest goal for Indonesian agritech startups should be prosperity for all farmers and fishermen, promoting sustainable farming for the sake of the country’s agricultural business sector, and maintaining food security,” he closed.

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The article Potensi dan Tantangan Industri Agrotech di Indonesia was written in Bahasa Indonesia by Randi Eka Yonida for DailySocial. English translation and editing by e27.

The post How TaniGroup faces challenges, opportunities in Indonesian agritech industry appeared first on e27.

Apple Pay has little effect on the domestic e-wallet market because it only has iOS users, requires payment locations to have POS machines, and only accepts international payment cards.

Apple Pay was formally introduced in Vietnam on August 8. Apple created this electronic wallet program to benefit users of the iOS environment. Users can therefore pay for services online by simply adding a physical credit card to the application.

Users only need to hold the top of the iPhone or Apple Watch screen close to the contactless card reader while double-pressing the side or home button, authenticating with Face ID or Touch ID, and making a payment.

A one-time dynamic security code and the device’s Face ID, Touch ID, or password are used to authenticate every Apple Pay transaction.

Although it was introduced in 2014, Apple Pay has only recently become officially available to Vietnamese citizens. The arrival of the e-wallet has excited Vietnamese iOS users.

Just on August 8, several users demonstrated the incorporation of credit and debit cards into Apple’s e-wallet, and numerous well-known figures in the computer industry did live streams demonstrating how to utilize them. Pay for services at retail locations.

Meanwhile, a media representative of MoMo also shared that the impact of Apple Pay on domestic e-wallets is yes, but negligible because Apple Pay payment points are high-end brands and must have a POS device to do it.

From a user perspective, Mr. Nguyen Tran Duy Phuong, a programmer in Ho Chi Minh City, said that Apple’s e-wallet currently has not had much impact on the domestic e-wallet market because it only serves Apple’s user group (those with a higher income and quality of life) is the main group.

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

Besides, Apple Pay is only a payment method, while the provision of services is done by partners, E-wallets like MoMo often follow the trend of super-app integration, so many services will provide it in your wallet, which Apple Pay cannot do.

Another thing, according to Nguyen Tran Duy Phuong, is that e-wallets in Vietnam currently support both domestic cards and bank account links, while Apple Pay does not. Therefore, users who do not have an international payment card will still choose e-wallets, moreover, with the specificity of the Vietnamese market, not all points of sale have contactless POS machines, especially shops. For small grocery stores or bars, users will also have to use e-wallets like MoMo or ZaloPay to scan the payment code.

Sharing the same opinion, Mr. Tran Duc Trung from the Exquisite forum also said that e-wallets in Vietnam are currently too strong, the application is very good on Android and iOS platforms and can be linked with Many banks to support payment. This is something that payment wallets like Apple Pay find difficult to do.

Users of Apple Pay in Vietnam have said that the e-wallet is incredibly responsive on both the iPhone and the Apple Watch and that payment is incredibly quick and easy.

Many people are concerned about whether Apple’s e-wallet, which competes directly with e-wallets like ZaloPay and MoMo in the domestic e-wallet industry, poses a threat to the market there.

Le Lan Chi, CEO of ZaloPay, addressed this concern with VietNamNet during the recent press conference to showcase multi-function QR codes and stated that Apple Pay only takes credit cards as a form of payment. Due to the low user penetration of these cards in the domestic market, the primary payment and debit cards will not have a significant impact on domestic e-wallets.

Besides, it is worth noting that ZaloPay has just announced that the official e-wallet is one of the first payment service providers in Vietnam for Apple Pay. This means that business partners who are cooperating and using ZaloPay Payment Gateway (ZaloPay Gateway) can open a new payment option, Apple Pay, for their customers.

Should you use Apple Pay in Vietnam?

The answer is too obvious: if you meet the necessary and sufficient requirements, which include having an Apple device that supports Apple Pay and doing business with one of Apple’s partner banks (as I said above), then absolutely yes. If you want the most comprehensive information, you can head straight to the Bank branch you are now using.

Due to the safety, security, and macroeconomic regulatory requirements of each country, developing economies will strive for touchless payment before going towards cashlessness. Therefore, taking part in this digital shift is quite acceptable.

To protect themselves and reduce unneeded risks, consumers must also arm themselves with the required knowledge about these touchless payment options.

The fundamental details concerning Apple Pay in general or Apple Pay in Vietnam specifically are covered above. I hope this new product will be a terrific experience for Apple consumers in Vietnam.

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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: Adobe Firefly

The post The Vietnamese market and Apple Pay: Excellent support or just unmet expectations? appeared first on e27.

Teja Ventures

Teja Ventures is a gender lens VC fund for emerging Asia, focusing on early-stage technology companies for the She Economy.

Verticals: Consumer and SaaS
Based in: Singapore
Investment locations: Singapore, India, Indonesia, China
Stages: Angel, seed, pre-Series A/bridge
Investment range: Not specified
Startup invested: Grouu.

Foxmont Capital Partners

Foxmont is a multi-focus VC fund dedicated to Filipino entrepreneurs to support them with capital, network and through the different stages of development.

Verticals: Any/all
Based in: The Philippines
Investment location: The Philippines
Stages: Seed, pre-Series A/bridge
Investment range: US$100K to US$500K
The startup invested: TANGGapp.

Global Brain Singapore

Global Brain specialises in investing in and supporting startups looking to expand their business overseas.

Verticals: Agritech, blockchain, e-commerce, education, enterprise solution, finance, healthtech, ICT, IoT, smart cities, and travel
Based in: Singapore
Investment locations: Australia, New Zealand, and Japan
Stages: Seed, pre-Series A/bridge, Series A
Investment range: US$500K to US$5M
Startup invested: Josys.

ORZON Ventures

ORZON Ventures, powered by OR (an oil and retail company in Thailand) and 500 TukTuks, invests in promising startups in Thailand and Southeast Asia in the mobility & lifestyle sectors.

Verticals: Any/all
Based in: Thailand
Investment locations: Thailand, Singapore, Malaysia, Indonesia, Vietnam
Stages: Pre-Series A/bridge, Series A, Series B, Series C and above
Investment range: US$500K to US$3M
Startup invested: SLEEK EV.

Seedstars International Ventures

Seedstars International is an emerging market seed fund that invests in seed-stage startups across emerging and frontier markets.

Verticals: Agency & consulting, ICT, mobile, and SaaS
Based in: Switzerland
Investment locations: All/any
Stages: Pre-seed, Seed, Series A
Investment range: US$50K to US$500K
The startup invested: MedEasy.

Accelerating Asia

Accelerating Asia is an early-stage VC fund that invests in pre-Series A startups in Southeast and South Asia.

Verticals: All/any
Based in: Singapore
Investment locations: All/any
Stages: Angel, seed, pre-Series A/bridge
Investment range: US$100K to US$250K.

nVentures

nVentures is an investor in early-stage digital media and technology companies.

Verticals: Finance
Based in: Singapore
Investment locations: Sri Lanka, India, Bangladesh, and Singapore
Stages: Pre-seed and seed
Investment range: US$50K to US$250K
The startup invested: MedEasy.

Gobi Partners

Gobi is an investor in early-stage digital media and technology companies.

Verticals: Advertising, Big Data, consumer, e-commerce, education, entertainment, finance, healthtech, ICT, media, SaaS, and travel
Based in: Malaysia
Investment locations: China, Hong Kong, Singapore, Malaysia, Indonesia, Thailand, Vietnam, the Philippines, the United Arab Emirates, and Pakistan
Stages: Seed, pre-Series A/bridge, Series A, Series B, Series C and above
Investment range: Not specified.
The startup invested: Electronic Recycling Through Heroes (ERTH).

Monk’s Hill Ventures (MHV)

MHV invests in early-stage technology startups in Southeast Asia.

Verticals: Cybersecurity, e-commerce, education, finance, F&B, healthtech, HR, logistics/supply chain, robotics, SaaS, travel
Based in: Singapore
Investment locations: Singapore, Indonesia, Malaysia, Vietnam, Thailand, Philippines
Stages: Pre-Series A/bridge, Series A
Investment range: Not specified
Startup invested: Saladin.

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The image used in this article is AI-generated.

The post e27 Connect investors empower SEA startups: Meet the game-changing funds of last week appeared first on e27.

The data centre sector has witnessed tremendous growth and transformation in recent years. Global internet traffic increased by 440 per cent between 2015 and 2021, and as the digital transformation of the global economy progresses, demand for data centres will continue to grow. Singapore has emerged as a major hub for facilities in Asia, attracting significant investment and job opportunities in the region.

Data centres have become an essential piece of infrastructure for businesses and organisations of all sizes. They are central to our digital world, powering the technologies and platforms that inform and influence our decisions, as well as our experiences. From streaming our favourite shows to enabling seamless communication across continents, data centres keep the world connected.

To design, build and operate these facilities, however, requires specialist professionals. So, what does it take to become part of a team that delivers the infrastructure that powers our digital future? One crucial role is that of a Cost Manager, who is responsible for managing, accurately reporting and optimising costs through all stages of a data centre project.

The foundations for success

Several undergraduate and graduate educational paths in Singapore can lead to Cost Management roles in a data centre, such as Quantity Surveying, Construction Management, Project and Facility Management, and various Engineering degrees. There are also Chartership pathways for further professional development in the areas of Cost Management, Project Management, Project Controls, Procurement and Supply Chain Management.

There is even the opportunity to learn on the job with professional development programs, such as Linesight’s RICS-recognised Chartership Pathway. One of a number of pathways towards professional certification in a chosen discipline, this 24-month program includes a dynamic blend of on-the-job learning, formal training and mentorship as employees work towards their Assessment of Professional Competency (APC).

Data centres are complex projects by nature, and the exponential growth of demand in this sector typically infers tight design and construction program timelines. While technical proficiencies are undoubtedly important, it’s crucial to emphasize the significance of soft skills (also known as ‘power skills’ or ‘core skills’) in this field.

As a Cost Manager, strong problem-solving skills are fundamental for navigating the complexities of cost estimation and management associated with data centre projects. Effective communication is, of course, essential to work and collaborate as part of a team, potentially across different time zones and with stakeholders from diverse backgrounds.

Also Read: How data centres adapt to shortages with advanced tech solutions

Furthermore, attention to detail, critical thinking and time management skills are also paramount, especially because even the smallest oversight can have significant financial implications.

Lastly, a commitment to ongoing learning, ambition and an open mind are qualities that will set candidates apart in this sector, while other transferable skills, such as risk management and stakeholder engagement, can easily be honed and applied in the data centre context.

A day in the life of a data centre Cost Manager

From a graduate level to a more senior Cost Manager position, the age-old adage rings true that a typical day in the data centre sector doesn’t really exist! The role is filled with diverse tasks and responsibilities that are wide-ranging and require employing a range of skills to execute.

As a graduate, you’ll have the opportunity to learn the ropes and gain hands-on experience by supporting Cost Management activities. As you progress, you’ll assume greater responsibilities, including cost estimation, budgeting, negotiation, cash flow forecasting and risk analysis.

Pricing innovative solutions for energy efficiency

As a Cost Manager in a data centre environment, it is essential to have a finger on the pulse with regard to the latest local and global industry developments, such as Singapore’s Green Plan 2030 and other sustainability goals and strategies.

Whether it’s related to cooling technologies or building management systems for reduced energy consumption, Cost Managers must be ahead of the curve when it comes to innovative solutions and technologies that support and drive sustainable transformations.

For example, energy efficiency in data centres is critical, especially in a tropical climate like Singapore, which recently introduced a new standard to enhance energy efficiency and reduce costs in facilities. This is the type of announcement that a Cost Manager must be up to speed on — to quickly analyse the implications for their clients, assess potential cost impacts and factor in contingencies.

Ultimately, a Cost Manager’s role involves striking a balance between bringing in the latest technology to the facility and maintaining cost optimisation whilst promoting sustainability and keeping clients at the forefront of energy-efficient and innovative practices in the dynamic data centre sector.

Rising to the challenge

The expanding market and increasing investment in the sector have created a significant demand for skilled professionals. Moreover, the global mobility programs available to data centre professionals offer opportunities to work on impactful projects around the world that expand one’s professional horizons and enhance one’s career trajectory.

Prospective job candidates can demonstrate their suitability for a role in the data centre sector by showcasing a combination of technical skills, soft skills and a genuine passion for the field. A lack of data centre experience should not be a deterrent, and experience and transferrable skills from similar sectors are warmly welcomed.

Those pursuing a data centre career in Singapore have the opportunity to play a role in hugely impactful projects in a country that is not only the world’s leading business environment but also the highest-scoring country in terms of technological readiness.

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The post Breaking into the data centre sector: Beyond technical expertise appeared first on e27.

In an era where customers expect tailor-made experiences, hyper-personalisation is no longer a luxury but a necessity. In order to create a seamless and effective hyper-personalised experience, brands need to harness innovative tools and resources that can synthesise consumer insights into action — technologies such as AI and automation. These technologies operate as the cornerstone that can take a brand’s hyper-personalisation efforts to the next level and ultimately cultivate lasting customer relationships, unparalleled satisfaction, and a competitive business edge. 

With AI and automation, the possibilities are endless: From personalised product recommendations based on individual preferences to instant, round-the-clock customer support through chatbots, businesses can revolutionise how they interact with and cater to their customers, creating seamless and memorable experiences that foster lasting loyalty and satisfaction. To help businesses harness this innovation, CleverTap, in partnership with e27, invites you to an exclusive event poised to help businesses from across Indonesia equip themselves with these disruptive technologies to help optimise their customer engagement.

Aptly titled, “Engagement Playbook Indonesia: Harnessing Automation and AI for Hyper-Personalization,” this interactive learning event will take place on September 20, 2023, at the JW Marriott Grand Ballroom in Jakarta. At this event, you can dive deep into the world of AI and automation that will enable your business not only to meet but to surpass customer expectations, creating impactful results that will yield sustainable growth for your brand.

Key benefits of joining Engagement Playbook Indonesia

Automation and AI are not just buzzwords; they are powerful tools that can streamline processes, enhance customer experiences, and drive business results. The Engagement Playbook Indonesia will feature hands-on demonstrations of how cutting-edge automation and AI solutions can be applied to your everyday marketing efforts. You will see firsthand how these technologies can be integrated into your business operations to create seamless, personalised customer journeys and shape your brand.

The event will also delve into how automation and AI are transforming the business landscape in general, making it possible for businesses to efficiently manage and utilise vast amounts of data.

Also read: EQT unveils startup impact challenge amid Southeast Asia’s ‘golden period’

From data segmentation to real-time personalisation, you will discover the tools and techniques that modern businesses are employing to maintain a competitive edge. Engagement Playbook Indonesia will emphasise the power of engagement-led growth and how it can revolutionise your approach to acquiring and retaining customers, underscoring the importance of customer acquisition as a cornerstone of business. At its core, it is these tools and techniques that will define how you engage with your customers through a hyper-personalised, tailor-fit approach.

CleverTap’s role in helping businesses master hyper-personalisation

To master hyper-personalisation, businesses need access to vast amounts of data. But how much data is enough, and when does it become too much? The Engagement Playbook Indonesia will provide answers to these pivotal questions, shedding light on how to best utilise and explore the possibilities that lie within data for businesses to effectively navigate and engage with their respective markets.

Ultimately, the more data a business has, the deeper its understanding of its customers’ needs, preferences, and behaviours. However, it’s not just about quantity; it’s about the quality of data. Collecting and analysing the right data points are crucial for creating personalised experiences that resonate with customers.

Helping us dive deep into how AI and automation can maximise data and bolster your customer engagement efforts by creating hyper-personalised experiences for your customers is CleverTap, an all-in-one customer engagement platform designed to unify interactions between people, processes, and technology.

Also read: Dive into AI-powered marketing with growth-oriented content stages at Flux Series

CleverTap is an All-In-One customer engagement platform that unifies interactions between people, processes and technology. CleverTap is built to convert customers into customers for life with in-moment experiences designed and optimized for scale, in real-time. We enable brands to create truly cross-channel experiences, transcending boundaries between channels, journeys and outcomes. We’re on a mission to be the ultimate growth partner, providing businesses with the insights they need to truly understand their customers and deliver.

This initiative spearheaded by CleverTap will feature leading experts who will share their insights on data-driven hyper-personalisation strategies. They will discuss best practices for data collection, storage, and analysis to ensure businesses have the right data at their fingertips.

Meet the esteemed panel of experts

With Engagement Playbook Indonesia featuring panel discussions, here are the experts who have made significant strides in their respective fields and who will be speaking at the event:

• Steven Wongsoredjo, CEO and Co-Founder of Aplikasi Super. Aplikasi Super is Indonesia’s first and leading social commerce platform and one of the top YC companies, which oversees the main feature, SuperAgen, an agent-led commerce feature that enables community leaders to become retailers within their communities. Aplikasi Super aims to solve economic inequality across cities for Indonesia’s future economy.
• Fanky Mulia, Vice President of CLM Marketing for Blibli.com. Established in 2011, PT Global Digital Niaga Tbk (Blibli) started with a commitment to empowering Indonesia’s economic and business sectors through an integrated omnichannel ecosystem for a sustainable lifestyle. Their mission is to enhance a variety of shopping experiences based on the spirit of delivering customer-centric goods, features, and services.
• Margarita Tan, Chief Growth Officer for Cakap. Cakap is an online school created to reinvent the language-learning experience. The company serves a large and rapidly growing global market. Through live instruction with native-speaking teachers and multimedia learning materials, all provided over the Internet, Cakap empowers students on their customised path to fluency in a 6-12 month time period.

The panel will be moderated by Joe Maulana, the Country Manager for Indonesia at CleverTap.

Also read: Singapore to host the most challenging pitching competition in the world

Join Engagement Playbook Indonesia

Don’t miss this opportunity to be part of this unique and educational event and learn all about how these disruptive technologies help reshape the way businesses approach customer engagement.

Join us on September 20, 2023, at the JW Marriott Grand Ballroom in Jakarta for Engagement Playbook Indonesia: Harnessing Automation and AI for Hyper-Personalization. Together, let us explore the future of marketing and discover the strategies that will set your business apart in an increasingly competitive digital landscape.

For more information, visit the event section here.

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

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

The post Can hyper-personalisation be achieved through automation and AI? appeared first on e27.

Car-sharing platform SOCAR has been on a mission to minimise car ownership through accessible mobility and bring impact to a greener society in Malaysia and beyond.  The soonicorn, which has raised US$73 million in investments from EastBridge Partners, Sime Darby and other backers, has expanded its footprint to various cities and regions, including Johor, Penang, Melaka, Ipoh, and Kota Kinabalu. The company also operates in Indonesia through its new product TREVO.

According to SOCAR CEO Shylendra Nathan, the future of the car-sharing industry will be shaped by trends like electric and autonomous vehicles, urban mobility solutions, and sustainability.

In this email interview, Nathan discusses the company’s products and the overall car-sharing landscape in Southeast Asia.

Edited excerpts:

Could you provide an overview of SOCAR’s journey since its inception and highlight some of the significant milestones the company has achieved to date?

SOCAR aims to revolutionise the car rental industry through innovative services like car-sharing and on-demand rentals.

Geographically, we have expanded our footprint to various cities and regions, including Johor, Penang, Melaka, Ipoh, and Kota Kinabalu. To further support the ride-sharing ecosystem, we introduced TREVO. This peer-to-peer car rental platform empowers vehicle owners to generate income by making their idle cars available for rent.

Following the Series B funding in 2021, how has SOCAR progressed in terms of its expansion plans and the development of clean mobility initiatives?

We’ve effectively grown our fleet in West Malaysia and debuted in East Malaysia, commencing from Kota Kinabalu. Furthermore, our SOCAR-2-YOU car delivery services have extended their coverage nationwide, enhancing user convenience for those looking to embrace car-sharing services. Lastly, TREVO has expanded its presence across Malaysia and Indonesia, championing the peer-to-peer car-sharing model.

Also Read: ‘The car-sharing biz has taught me that mobility is hyperlocal’: SOCAR CEO Leon Foong

By combining these two approaches, our expansion, increased accessibility, convenience, and affordability contribute to the broader utilisation of existing vehicles, promoting eco-friendly mobility throughout the region.

TREVO has been a focal point. Can you share some insights into how TREVO has evolved and its role in shaping SOCAR’s growth strategy?

TREVO Malaysia allows car owners to securely rent out their vehicles while enabling guests to drive nearby cars. Since its inception in 2019, TREVO has expanded to nine cities across Malaysia, with over 8,000 cars on the platform.

TREVO also launched P2P insurance, TREVO Shield, in Malaysia in 2022.

The car-sharing landscape is rapidly evolving with advancements in electric and autonomous vehicles. How does SOCAR envision incorporating these trends into its offerings in the coming years?

Within the TREVO platform, we have made electric vehicles (EVs) readily accessible through welcoming hosts, providing a unique opportunity for early adopters to explore and gain valuable firsthand experience with these innovative cars before committing to a significant investment.

This approach encourages the adoption of EVs and helps individuals make informed choices about transitioning to cleaner and more sustainable transportation options. It empowers users to test the waters of electric mobility, ultimately contributing to a more environmentally conscious and technologically advanced future in transportation.

Could you elaborate on the partnerships, collaborations, or innovations that have been key drivers for SOCAR’s success in differentiating itself within the competitive car-sharing market?

SOCAR and TREVO have continuously optimised and improved the platforms over the last few years, launching key features and collaborating with market players to provide the best-in-class mobility solutions to the public.

Our services include the Super Collision Damage Waiver (SCDW), which offers extensive insurance coverage. The One-Way Intercity option allows guests to drive between cities within the same state, such as from Kuala Lumpur to/from Johor Bahru, Ipoh, or Penang, with the flexibility to end their booking at their destination.

With the SOCAR MONTHLYPASS, customers can enjoy a fixed subscription fee for access to a vehicle throughout an entire month. In addition to the core self-driving model, SOCAR now offers the ability to rent a car with a driver for convenience via SOCAR+.

BOSS by SOCAR operates on a subscription-based model, providing businesses with a cost-effective solution that eliminates the need for maintaining a fleet of vehicles.

SOCAR Business Mobility (SBM) is specifically designed to cater to the needs of small and medium-sized enterprise (SME) owners, offering tailored mobility solutions.

Customer preferences are changing, with a growing emphasis on sustainable and eco-friendly transportation options. How is SOCAR adapting to meet these changing demands and promoting clean mobility solutions?

With the growing emphasis on sustainable and eco-friendly transportation, car-sharing and on-demand rental services encourage the efficient use of vehicles. Our services grant customers access to a diverse range of transportation options and contribute to the reduction of traffic congestion and bottlenecks. They foster a more sustainable and eco-conscious transportation model by offering easy access to vehicles precisely when needed.

TREVO, for instance, empowers car owners to share their vehicles with others, thereby maximising the utilisation of existing cars and diminishing the necessity for additional manufacturing.

Expansion beyond geographical boundaries is often a goal for successful startups. What are SOCAR’s plans regarding international expansion and entering new markets?

P2P rental has gained significant traction for car owners to leverage their underutilised assets for financial gain. Recognising the immense potential of this model, we are actively strategising to extend our services to neighbouring countries within the Southeast Asian region. In Malaysia, our primary objective is to enrich service availability in key urban centres spanning the entire country, encompassing both Peninsular Malaysia and Borneo.

Also Read: SOCAR raises US$55M in Series B funding round from new investors EastBridge Partners, Sime Darby

Furthermore, we are dedicated to strengthening our presence in prominent Indonesian locations, specifically Jakarta and Bali.

As the car-sharing landscape evolves, what do you believe will be the industry’s most influential trends and challenges over the next few years, and how does SOCAR plan to stay at the forefront of these changes?

Our vision for the future will be shaped by trends like electric and autonomous vehicles, urban mobility solutions, and sustainability. We are prepared to lead this evolution by harnessing cutting-edge technology and existing knowledge in mobility. This includes integrating diverse vehicles into our fleet, leveraging data analytics for enhanced customer experiences, and partnering with other mobility providers for seamless urban mobility solutions.

The post The future of car-sharing industry will be shaped by trends like EVs, autonomous vehicles: SOCAR CEO appeared first on e27.