Dear reader,

Barça Innovation Hub (BIHUB), a pioneering division of FC Barcelona, is making a strategic move to establish a strong presence in the Asia Pacific region. This expansion aims to have a profound and enduring impact on the sports industry throughout the area.

BIHUB’s vision involves partnerships and collaboration with startups operating in various sectors, including health & wellness, media & entertainment, infrastructure management, and prosumer markets in sports fitness, aligning with the club’s core mission.

BIHUB’s multifaceted approach includes investments in sports-related startups in the seed to Series A stages. The focus here is on value creation and long-term partnerships rather than immediate profit. Albert Mundet, the Director of BIHUB, emphasises the importance of finding the right venture capital partners who understand the business model.

A notable aspect of BIHUB’s strategy is its adaptability to diverse cultures within the Asia Pacific region. Rather than imposing a singular approach, BIHUB seeks to resonate with local cultures and realities through partnerships with local entities.

The commitment to harnessing technology, particularly AI, data analytics, and blockchain, for enhancing sports operations is another key feature. BIHUB’s involvement in optimising practices, tactical analytics, and leveraging machine learning is indicative of its forward-thinking approach to improving the sports industry.

BIHUB also plans to bring the Sports Tomorrow Congress to Singapore, serving as a platform for sharing insights, discussing industry trends, and fostering professional collaborations.

In summary, BIHUB’s expansion into the Asia Pacific showcases a well-thought-out strategy that combines innovation, partnership, and adaptability to make a significant impact on the sports and technology landscape in the region.

Sainul,
Editor.

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GoTo narrows let loss by 65% in Q3, shelves international IPO plans
GoTo Group posted a net revenue of US$228.2M for Q3, representing a 21% decrease compared to the same period the previous year; In Q3 2023, the group’s adjusted EBITDA loss decreased to US$59.3M, marking a significant 74% improvement.

EDBI’s ex-CEO Chu Swee Yeok launches US$250M fund August Global Partners
August Global Partners introduced two key commercial funds: a Continuation Fund and a new healthcare-focused fund; Yeok is currently the Senior Advisor of EDBI and the Chair and Founding Partner of August Global Partners.

Temasek-backed Temus acquires Decision Science Agency (DS)
Temus announced that it has opened a new office in Hong Kong – its first outside Singapore; DS is a digital services provider with over 70 employees across Singapore, Vietnam, and Malaysia.

VisVires New Protein rebrands to Clay Capital, closes new US$145m fund
The company aims to support foodtech and agritech startups across Europe, Israel, and Asia that are working to improve nutrition as well as sustainability and circularity in food production.

Engine Biosciences lands US$27M to develop precision oncology drugs
The investors are ClavystBio, Invus, EDBI, Coronet Ventures, and SEEDS Capital; The biotech firm is advancing its pipeline of oncology therapeutics towards the clinic internally and with collaborators.

VE Technology scores US$22M funding as it prepares for IPO in 2024
Mox Capital is the lead investor; VE Technology is an enterprise tech ecosystem that has acquired 15+ firms specialising in AI, IoT, cybersecurity, robotics, software development, and business consultancy.

Funding Societies raises US$7.5M debt financing
The investor is Norway’s state-owned development financial institution Norfund; Funding Societies claims to have achieved over US$3.2 billion in business financing, serving about 100,000 regional SMEs.

Philippine’s Talino Venture Studios lands US$5M funding
The investor is Chemonics International; Talino is a global venture studio for inclusive fintech; The partnership will focus on fintech solutions for the 50M unbanked citizens of the Philippines, as well as in other low-income economies.

Despite growth, SEA needs to expand the depth of digital participation
While digital inclusion has made inroads in SEA over the past years, consumers outside of metro areas are at risk of facing a widening digital economic divide, according to the e-Conomy SEA report by Google, Temasek, and Bain & Company.

Radiant1 raises funding for its AI solution that helps hotels maximise revenue
Monk’s Hill Ventures is the lead investor; Radiant1 uses ML algorithms to analyse factors, including real-time demand and types of properties to provide optimised room rate pricing on a real-time basis.

Meet the 8 Italian startups pitching at Global Startup Program demo day.
The Global Startup Program is organised by the Italian Trade Agency in collaboration with the Ministry of Foreign Affairs and International Cooperation; The event is hosted by the accelerator Tenity Singapore.

Malaysia’s Vircle raises funding to help parents raise money-smart kids
Lead investors are Kumpulan Modal Perdana and Gobi Partners; Vircle instils lifelong money habits among young children through partnerships with major schools across Malaysia.

SPH Media to acquire Tech in Asia
Financial terms of the transaction will not be disclosed; TIA will strengthen the offerings of SPH and, in particular, that of The Business Times (BT); With digital and print editions, BT provides news and commentaries on markets, companies, wealth, property, lifestyle in Singapore and globally.

TikTok’s Indian rival Roposo enters Indonesia
While Roposo India offers e-commerce features, the Indonesian version doesn’t do so; Instead, the focus is on expanding its user base and supporting the creator ecosystem in the country.

Orbit Startups names 9 firms in newest cohort
The selected startups come from sectors such as healthtech, agritech, mobility, and fintech come from countries such as Thailand, Bangladesh, and the UAE; They have received seed funding of about US$180,000 each.

How Warung Pintar builds tech solutions to help warung owners embrace the future
Warung Pintar tries to get their users involved in product development process as much as possible. This is how they do it.

Alt-food revolution: A look at SEA’s growing demand for sustainable food
Southeast Asia’s alt-food revolution is driven by sustainability, climate awareness, and clean label foods as consumers embrace plant-based alternatives.

Understanding traction metrics that investors look for in early-stage startups
Different investors might consider different traction metrics, depending on the verticals that the startup is working on.

Optimising workplace design for employee engagement and organisational success
Workplace design can enhance engagement and innovation through a deep understanding of employee needs and company workflows.

Sonic success: Crafting a competitive edge in audio peripherals
Success in the audio peripherals market means navigating the competitive landscape and understanding the volatility of consumer preferences.

Corporate venture funding models: Determining the sweet spot between risk and control
We have found four archetypes of corporate venture funding models that serve as a starting point to achieve those objectives.

The infinite game of leverage: A startup’s guide to time affluence and productivity
If you’re looking to break through the ceiling and take your startup to the next level, start thinking in terms of leverage.

Startups impacted by the rise of embedded finance in Southeast Asia
In the past decade, Southeast Asia’s digital economy was marketplace-driven; the next decade may revolve around digital finance.

AI revolution: Balancing human empathy and robotic efficiency in customer service
Striking a balance for an effective blend of AI and human empathy is key in the future of customer service.

Spotlighting David Isaac Mathews: Championing digital transformation and growth
Mathews has a vision for aligning monetisation, marketing and product strategy to customer experience for ASEAN startups.

Barcelona looks to score big in Asia’s sports-tech arena through BIHUB
The Barça Innovation Hub (BIHUB) is expanding its horizons in Asia Pacific, seeking strategic partnerships with startups to revolutionise the sports industry.

How Fishlog aims to revolutionise ID fisheries with cutting-edge solutions
Fishlog aims to improve operations for fishermen indirectly by enhancing the efficiency and transparency of the seafood supply chain.

How STACS aim to help businesses comply with ESG regulations with its ESGpedia tool
STACS has launched upgrades to its ESGpedia platform that will allow businesses to comply with regulatory requirements across Europe, Asia.

For startups, embracing ESG focus is a sure-fire way to secure corporate success
There has been a decisive shift in the investment landscape with 80 per cent of investors now cautious of “greenwashing”.

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The post Ecosystem Roundup: FC Barcelona sets foot in Asia’s startup arena; Ex-EDBI chief launches US$250M fund appeared first on e27.

Southeast Asia’s tech scene is buzzing with activity as several prominent companies secure funding, expand into new markets, and advance cutting-edge technologies.

Notable developments include Funding Societies’ significant debt funding, Engine Biosciences’ substantial Series A extension, VE Technology Group’s multimillion-dollar funding round, GoTo Group’s improved financial performance, Vircle’s seed funding for its neo banking solutions, Talino Venture Studios partnering with Chemonics International for financial inclusion initiatives, Animoca Brands collaborating with NEOM Company for Web3 projects, and Radiant1’s successful pre-Series A round led by Monkʼs Hill Ventures.

Funding Societies

Funding Societies (Modalku in Indonesia) is a digital finance platform for SMEs in Southeast Asia. It is licensed in Singapore, Indonesia, and Thailand, registered in Malaysia, and operates in Vietnam. The fintech provides US$1 billion annually of business financing to SMEs. Its recent milestones include acquiring the regional digital payments platform CardUp and co-investment into Bank Index in Indonesia.

Also Read: EDBI’s ex-CEO Chu Swee Yeok launches US$250M fund August Global Partners

The firm claims to have achieved over US$3.2 billion in business financing, serving about 100,000 regional SMEs.

This week, it secured US$7.5 million in debt funding from Norwegian government-owned development financial institution (DFI) Norfund. This debt funding comes over a month after the fintech firm announced a US$27 million in debt fundraising led by AlteriQ Global, with participation from Aument Capital Partners and Orange Bloom.

Engine Biosciences

Engine Biosciences is a Singaporean company leveraging machine learning and high-throughput biology to discover and develop precision oncology medicines. Established in 2014, Engine Biosciences discovers and develops impactful precision medicines by deciphering complex biology with integrated computation and experimentation, with particular depth in oncology. The firm is advancing its pipeline of oncology therapeutics towards the clinic internally and with collaborators, and in other disease areas through partnerships.

Engine Biosciences has identified over 30 new precision medicine opportunities with validation data.

This week, it announced a US$27 million Series A extension funding round led by Polaris Partners. Existing backers ClavystBio, Invus, and EDBI, along with new investors Coronet Ventures and SEEDS Capital, also co-invested.

VE Technology Group

VE Technology Group is a Singapore-based enterprise tech ecosystem. Founded in 2019, VE Technology operates a unified ecosystem of B2B enabling enterprises and digital solutions. The network brings together over 15 acquired subsidiaries specialising in delivering end-to-end business solutions across artificial intelligence (AI), Internet of Things (IoT), cybersecurity, robotics, software development, and business consultancy.

Also Read: FC Barcelona looks to score big in Asia’s sports-tech arena through its innovation hub

It recently announced a S$30 (US$22) million funding round led by alternative investments firm Mox Capital.

GoTo Group

GoTo Group is an Indonesian tech conglomerate. It recently announced its seventh consecutive quarter of adjusted EBITDA improvements as it continues its journey towards profitability.

In Q3 2023, the group’s adjusted EBITDA loss decreased to 940 billion rupiah (US$59.3 million), marking a significant 74 per cent improvement. According to CFO Jacky Lo, this achievement was attributed to the company’s efforts to reduce operating expenses by eliminating redundancies and leveraging technology.

Furthermore, the company revealed that it has decided to put on hold its plans for an international IPO.

In terms of financial results, GoTo Group posted a net revenue of US$228.2 million for Q3 2023, representing a 21 per cent decrease compared to the same period the previous year. This decrease was mainly due to a catch-up adjustment in the same quarter in 2022. Excluding these adjustments, the net revenue for Q3 reflects a robust 19 per cent year-over-year growth.

Vircle

Vircle is a Malaysian neobanking startup helping parents raise money-smart kids. Established in 2019 by Gokula

Krishnan, Vircle instils lifelong money habits among young children through partnerships with major schools across Malaysia. Its parental control technology empowers parents to oversee and manage their children’s expenses in and out of school. Its child-safe Visa prepaid card offers parents a regulated financial tool to help guide their children in navigating the cashless and digital banking environment with careful oversight, instilling financial responsibility.

It recently received an undisclosed sum in seed funding co-led by state-owned VC fund Kumpulan Modal Perdana (KMP) and Gobi Partners.

Talino Venture Studios

Talino Venture Studios is a global venture studio for inclusive fintech. Born in the intersection of Silicon Valley and Southeast Asia, it aims to bridge financial inclusion for over 1.7 billion people worldwide. It uses the venture studio model to build repeatable, scalable, and profitable fintech firms that empower underserved, underrepresented groups with financial access and mobility.

Also Read: A quick look at the 8 Italian startups pitching on the demo day of Global Startup Program

Recently, sustainable development firm Chemonics International announced a US$5 million investment into Philippine venture builder Talino Venture Studios. The core mission of this strategic partnership is to harness their combined expertise to tackle the challenges of financial inclusion in emerging economies. The partnership will focus on fintech solutions, including one to expand financial inclusion among the 50 million unbanked citizens of the Philippines, as well as in other low-income economies.

Animoca Brands

Animoca Brands is an open metaverse company develops and publishes a broad portfolio of products, including original games such as The Sandbox, PHANTOM GALAXIES, Life Beyond, and Crazy Defense Heroes, and products utilising popular intellectual properties from the worlds of sports and entertainment, such as The Walking Dead, Power Rangers, MotoGP, and Formula E.

It recently formed a strategic partnership with NEOM Company, the company behind Saudi Arabia’s iconic project NEOM City, to drive regional Web3 initiatives in line with the Kingdom’s Vision 2030 plan.

Animoca Brands will work with NEOM on building Web3 enterprise service capabilities with global commercial applicability, which will be deployed to support technology advancements in Riyadh and the NEOM region.

As part of the deal, NEOM Investment Fund (the strategic investment arm of NEOM) has proposed investing US$50 million in Animoca via convertible notes and secondary share purchase.

Radiant1

Radiant1 is an Asia-focused AI-based SaaS solution that assists hotels in maximising revenue. Established by serial entrepreneur Apichai Sakulsureeyadej, the startup uses machine learning algorithms to analyse factors, including real-time demand, types of properties, and travel behaviour, to provide optimised room rate pricing on a real-time basis and maximise total revenue for the customer.

Its systems have assisted all types of properties to optimise their revenues while keeping an eye on their bottom line. Its customers include hotels with global chain brands, independent and boutique hotel chains, hotel management companies, and short-stay operators.

The startup has established its footprint across three markets – Thailand, Malaysia, and Indonesia.

It just announced a pre-Series A round of funding led by Monkʼs Hill Ventures.

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The post SEA companies making waves with funding, innovation, expansion appeared first on e27.

e27 has been dedicated to nurturing a supportive ecosystem for entrepreneurs since its inception. Our Contributor Programme offers a platform for sharing unique insights.

As part of our newly introduced ‘Contributor Spotlight’, we shine a weekly spotlight on an outstanding contributor and dive into the vastness of their knowledge and expertise.

In this episode, we feature David Isaac Mathews, who’s working on the digital transformation of innovation and corporate venture building at Causality Co, a family of businesses that builds and launches digital ventures and runs product-market fit pre-testing as a service.

Mathews shares his personal and professional journey in this episode of Contributor Spotlight.

The driving force

An esteemed contributor, Mathews became part of our community in the first quarter with his inaugural article. Since then, his contributions have attracted over 2,000 views. His motivation as an e27 contributor is grounded in his commitment to sharing knowledge, fostering learning, and empowering others.

“Contributing to e27 is an extension of my belief in paying it forward. Just as I’ve mentored at universities and various incubators, from three universities to deep tech to automotive, I see e27 as another platform to share, learn, and empower others,” he said.

How it all began

Mathews commenced his tech journey 18 years ago, transitioning from a background in consulting and achieving a humble entrepreneurial exit. The potential of digital transformation in venture building and corporate intrapreneurship fueled his motivation. Throughout his career, he has collaborated with C-Suite executives, guiding them in launching “what’s next” for their companies.

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

His current mission with Causality Co centres on developing two digital tools, Growth360 and AIPath.one, designed to facilitate more strategic and accelerated startup growth.

As a fifth-generation Singaporean, he harbours a passion for supporting Singaporean and ASEAN founders, engaging with startups on weekends with accelerators and working with businesses in his day job. His commitment is ensuring that venture building aligns with authentic market needs while maintaining a strong focus on value.

“My goal is to help leapfrog the scarcity challenges of having too few developers and serial founders to serve as benchmarks,” Mathews states. “For this purpose, I bring a wealth of shared experiences from Silicon Valley and corporate innovation, which I employ as an immersive approach in my teaching, consulting, and mentoring.”

In his role, Mathews provides support within the domain of Growth, akin to a C-Suite version of a Product Manager. He integrates monetisation, go-to-market, and product strategy, all with a keen emphasis on enhancing the customer experience.

Also Read: Demystifying ToFu churn: How strategic CPO-CMO collaboration makes the difference

He stated, “A significant trend I’m championing is the mass adoption of full-funnel marketing and behavioural product analytics to create closed loops of voice-of-customer insight. This aids leaders in becoming strategically agile, ensuring swift alignment with market demands. For instance, my tool, AIPath, assists founders in real-time revisions of their ToFu and BoFu marketing assets and fundraising pitch decks whenever they add new features or focus on a new customer segment.”

Advice for budding thought leaders

Mathews advises: “Be value-first. Share generously from your experiences. Take, for instance, AIPath.one: it’s an embodiment of understanding and addressing the pain points of tech founders in today’s dynamic ecosystem, supporting 0-1 founders in incubators since 2014.”

Juggling too many things?

In Mathews’s perspective, the core principles revolve around prioritisation, establishing boundaries, and allocating time for self-reflection.

Also Read: Data-driven growth: The evolution of growth hacking in 2023

“Mentoring and contributing aren’t just ‘add-ons’ for me; they’re intertwined with my professional journey, enriching it, and I find supporting founders to make a dent in the universe extremely energising,” he mentioned.

Staying in the loop

Mathews stated, “In addition to dedicating two to four hours to reading tech journals and attending conferences (I have nearly no time left for Instagram or Netflix these days), I’m hands-on: piloting methodologies and using tools like Growth360 to optimise strategic operations in real-time scenarios.”

Working with startups and corporates allows Mathews to cross-pollinate and tailor solutions for the leaders he collaborates with. His primary focus remains on innovation and the cutting-edge application of technology in regions beyond ASEAN, enabling further cross-pollination.

Mathews has established the Growth Library to promote essential best practice frameworks and concepts. He also suggests that for fundamental insights, a classic like Lean Startup by Eric Ries is a recommended read.

“In our quest for digital innovation, let’s be value-first, ensuring solutions cater to genuine user needs. As we build and mentor, let’s champion a culture of paying it forward, elevating the entire ecosystem,” Mathews concludes.

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Are you ready to be a part of a vibrant community of entrepreneurs and industry experts? Do you have insights, experiences, and knowledge to share?

Join the e27 Contributor Programme and become a valuable voice in our ecosystem. 

The post Spotlighting David Isaac Mathews: Championing digital transformation and growth appeared first on e27.

In its pursuit to discover and nurture the next wave of ground-breaking startups, the EQT Impact Challenge, in partnership with The Edge Singapore and E27, is pleased to unveil the 10 innovative contenders for its Southeast Asia 2023 edition.

The selection of these startups underscores EQT Impact Challenge’s commitment to fostering innovation in both planetary and human-centric spheres. Following this round, the 10 shortlisted startups will be further shortlisted to five startups.

The chosen five will attend Pitch Day on Nov 14, where these candidates will then undergo a coaching session hosted by EQT, where investment professionals impart insights into crafting compelling pitches. Ted Persson, a partner at EQT’s venture capital fund EQT Ventures, will lead the training and provide feedback to these selected startups.

Also read: Growth tailwinds poised to unlock the region’s startup potential

After that, the five startups will go through another round of elimination by a hand-selected panel of juries, and one will emerge as the winner. The competition winner will receive a EUR100,000 investment from EQT Foundation, complemented by 300 consultancy hours from Ernst & Young to finesse their strategy and business development. Furthermore, they will gain privileged access to EQT’s comprehensive network and specialist knowledge to propel their growth trajectory.

The first and second runners-up will receive an invaluable opportunity to engage with EQT Foundation’s investment team to secure funding for their impact ventures potentially.

1. Cellivate Technologies

An advanced biotech enterprise, Cellivate Technologies focuses on providing cell-based solutions to replace the slaughter of animals, using sustainable cell technologies. Founded by Viknish Krishnan-Kutty in 2019, Cellivate’s proprietary solutions cost a fraction of what is currently deployed in the market. It is currently working with clients in three sectors: skincare, cultivated leather and cultivated meat.

2. EcoWorth Tech

Committed to environmental sustainability, EcoWorth Tech, founded by Andre Stolz, has developed a breakthrough technology that efficiently purifies and reclaims water from various waste sources, mitigating water scarcity issues. This cleantech company commercialises the Carbon Fibre Aerogel technology to focus on waste-to-worth-creating applications in industrial wastewater treatment, as well as oil & gas decontamination, providing financial, environmental and social benefits.

3. Umami Bioworks

Founded by Mihir Pershad, Umami Bioworks specialises in sustainable food innovations. It aims to deliver a range of alternative protein products, emphasising both nutritional value and eco-friendliness. The company uses its machine learning toolkit Alkemyst which leverages computational biology, machine learning and digital twin technology to accelerate the product development process. It focuses on farmable, ETP (endangered, threatened or protected) seafood species that are highly desired by consumers.

4. Materials In Works

Pioneering in the field of sustainable materials, this startup focuses on crafting eco-friendly alternatives to common construction and packaging materials, reducing environmental impact. The company was founded by a group of enthusiastic packaging material experts with a proven track record in Southeast Asia and Oceania. Materials in Works upcycles waste into raw material (recovered cellulose pulp), which is then sold to manufacturing companies to produce the end product and complete the upcycling journey.

5. Qarbotech

Qarbotech’s founder Chor Chee Hoe believes that plants can play a bigger role for man, much more than just a food source or a way to green homes. Qarbotech has developed a patent-pending technology CarboGrow that is the first in the market photosynthesis enhancer for plants. This product helps to increase plant growth and shorten the crop cycle. This means that the plants are able to process more carbon dioxide, helping to reduce greenhouse gases in cities and releasing more oxygen for better air quality.

6. Insectta

Chua Kai-Ning believes that there is more to insects than them being a pest. Tapping into the potential of insects, Insectta combines nature and cutting-edge technology to allow insects to add value to everyday life. The company’s proprietary insect biomaterial extraction technology transforms black soldier flies into multiple biomaterials like chitosan and melanin, which are valued in biomedicine, cosmetics, organic electronics and more.

7. Enlipsium

Yzhar Perry and Tommy Tham co-founded Enlipsium in 2020 as an advanced material startup. The company holds three patents in the area of perovskite and luminescent materials. Being one of the first companies in the world to have successfully taken X-ray images with nano-perovskite scintillators, Enlipsium continues to build on Naneos materials, Polyipnos luminescent materials, and its Enlit range of products for the healthcare, supply chain, as well as the building and construction industries.

8. NousQ

After a humanitarian medical mission to Cambodia, Dr Lynne Lim heard her calling. She and Gan Chee Wee co-founded NoisQ to design, develop, manufacture and commercialise medical technology and devices for patients. Prior to that, Lim and Gan developed their medtech product CLiKX to help children with Otitis Media in rural areas where surgical facilities are not readily available.

9. ImpacFat

With an emphasis on health and nutrition, ImpacFat innovates in the domain of functional foods. Co-founder Mandy Hon aims to cultivate fish fat using stem cell technology to generate a sustainable source of food that not only satisfies taste buds but also offers numerous health benefits. The fish cells are sustainably sourced from different fish species, and then cultivated in a controlled environment to become healthy fat cells that are high in omega-3.

10. Full Circle Biotechnology

Full Circle Biotechnology’s founder Felix Collins is dedicated to harnessing biotechnological processes to create sustainable aquaculture feed. It has developed a waste-to-protein production system, where it combines food waste with black soldier fly larvae and microbes, which offers farmers the chance to cut both emissions and costs while providing an alternative to soy meal, fishmeal and other more carbon-intensive feed ingredients.

Also read: EQT Impact Challenge offers platform for impact entrepreneurs to attain ‘patient capital’

Vote now for your preferred startup to reach the top five.
Voting link: https://e27co.e27.co/eYyY
Voting period: Nov 2-7

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The article was produced by and first published on The Edge Singapore

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 EQT unveils 10 shortlisted companies in the EQT Impact Challenge appeared first on e27.

Singapore-based STACS is the company behind ESGpedia, a series of tools that enabled corporates and SMEs to perform a digitalised and simplified self-assement to kickstart their sustainability journey. It has supported hundreds of companies across Asia Pacific to help achieve their sustainability goals and has expanded across several Southeast Asian (SEA) market, including Vietnam, the Philippines, and Indonesia.

Today, the ESG data and tech solutions company launched upgrades to the ESGpedia platform that will allow businesses and financial institutions to comply with ESG regulatory requirements across Europe and Asia–which continues to get increasingly stricter.

Benjamin Soh, Founder and Managing Director at STACS, said in a press statement, “ASEAN companies are facing increasing mandatory ESG requirements, which are extending to large non-listed companies and SMEs. This is where understanding your current ESG profile and leveraging technologies like Artificial Intelligence come in place to help companies ensure compliance towards the evolving ESG regulations landscape across Europe and Asia.”

The company is doing this through two approaches:

ESGpedia Nexus

According to STACS, this approach enables companies of various ESG maturities to achieve their end-to-end business needs and full readiness through active engagement and its marketplace of sustainability solutions.

Also Read: For startups, embracing ESG focus is a sure-fire way to secure corporate success

“It offers digital tools that automatically convert operational data like fuel, refrigerant, and electricity consumption to greenhouse gas (GHG) emissions under the standard GHG Protocol, localised to all Asia Pacific countries. To help companies take positive actions towards ESG excellence, ESGpedia Nexus provides a marketplace where companies can amplify their ESG profile, and sell or procure ESG services.”

ESGpedia Intelligence

The tool aims to empower banks, investors, insurers, and corporates to overcome data fragmentation and provide a complete picture with aggregated ESG data across countries and sectors via AI-based harmonisation of unstructured ESG data.

“Since the launch of ESGpedia version 2.0 in May earlier this year with five million sustainability data points, the platform has since strengthened its AI-capabilities in aggregating, harmonising, and standardising ESG data (to even smart extraction of ESG metrices from documents) and enhanced its data coverage – it now includes 300,000+ companies’ sustainability data, of which 115,000+ company profiles have full corporate data overlaid and standardised,” STACS says.

“As a key development, the platform now offers Taxonomy Regulatory Mapping which provides digital automation to transform portfolio data to regulatory needs like ESRS, Environmental Risk Questionnaire (ERQ) in Singapore, Climate Change and Principle-based Taxonomy (CCPT) Due Diligence in Malaysia, Philippines SEC Sustainability Reporting Form (SuRe), and more.”

The updates are introduced with the background of the latest regulations to be introduced in the European Union on ESG.

Also Read: Why GoImpact believes that education is the key to promoting ESG investment

STACS explained that starting from 2024, both European Union (EU) companies and non-EU companies will be directly in scope under the European Sustainability Reporting Standards (ESRS). This update will significantly impact companies based in Asia Pacific as it includes the companies’ supply chain which 90 per cent is represented by SMEs in Asia.

In addition to that, STACS also highlights that various Asia markets have also implemented mandatory regulatory reporting to enhance the adoption of global sustainability and ESG standards. This includes the International Financial Reporting Standards’ (IFRS) inaugural ISSB standard, with many disclosure requirements extending to large non-listed companies and SMEs.

STACS hopes that with the tools, they can help tackle the problem of the lack of ESG data on these companies’ supply chains.

Examples of companies that have used the ESGpedia platform is OCBC. Through data digitally collected on ESGpedia via the ESBN Asia-Pacific Green Deal digital assessment and independently verified by Bureau Veritas, OCBC extended a Sustainability Linked Loan (SLL) to a global textile and apparel manufacturer Ghim Li.

The post How STACS aim to help businesses comply with ESG regulations with its ESGpedia tool appeared first on e27.

Chu Swee Yeok, former CEO of Singapore’s state-owned EDBI, has teamed up with the current and former executives of the VC fund to launch a new investment firm called August Global Partners (AGP).

A multi-stage global fund, August Global Partners, kicks off with an initial US$250 million.

The VC firm introduced two key commercial funds: a continuation fund and a new healthcare-focused fund, according to Yeok.

Also Read: FC Barcelona looks to score big in Asia’s sports-tech arena through its innovation hub

“Thrilled to announce the founding of a new investment firm, August Global Partners (AGP), with my former colleagues from EDBI. We are kicking off with two commercial funds – a Continuation Fund and a new Healthcare Fund. Having been deeply involved initially with laying of the foundations and subsequently nurturing the growth of the biomedical industry in Singapore, I am excited to continue the journey at AGP. Looking forward to working with our strategic partners on new healthcare opportunities that will shape and transform the sector,” Yeok said in a LinkedIn post.

Yeok is currently the Senior Advisor of EDBI and the Chair and Founding Partner of August Global Partners. She has over three decades of experience in management, strategy development, and making direct investments in early-to-growth and late-stage companies. She has experience investing in Singapore and globally in diversified sectors of digital, financial services, frontier engineering and manufacturing technologies, sustainability, healthcare and other fast-growing industries.

Also Read: LINE owner, EDBI, existing backers join Endowus’s new US$27M funding round

Yeok departed from her role as EDBI’s CEO on February 1.

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The post EDBI’s ex-CEO Chu Swee Yeok launches US$250M fund August Global Partners appeared first on e27.

Flux Series: Marketing Leaders is happening at the St. Regis in Jakarta, Indonesia, on 15 November 2023. Are you working in the field of marketing? Don’t miss out on this focused and curated event designed especially for marketing professionals!

Visit Flux Series: Marketing Leaders for more information! Read on to get discounted tickets.

With the advent of technology, Artificial Intelligence (AI) has emerged as a game-changer, revolutionising how we solve complex problems and make critical decisions. As AI is becoming increasingly integrated into our daily lives, organisations must take proactive steps to assemble teams that not only keep pace with the rapid evolution of this field but also drive its progress. 

The field of AI is characterised by its dynamic nature, with new breakthroughs and innovations occurring at an astonishing pace. This rapid evolution necessitates a team that is not only adept at current technologies but also capable of quickly adapting to emerging trends and paradigms. A future-proof AI team thrives on the ability to learn and apply new knowledge effectively, ensuring that they remain at the forefront of technological advancements.

Flux Series: Marketing Leaders

One of the foremost challenges confronting today’s marketing professionals in their quest for effective and seamless AI adoption is the significant knowledge gap. The rapid evolution of AI technologies and their applications in marketing necessitates a deep understanding of complex algorithms, data analytics, and machine learning principles.

Also read: Harness the power of Generative AI in marketing with the Inmagine CEO

Many marketing professionals may find themselves lacking the requisite expertise to harness AI’s full potential. Bridging this knowledge gap demands significant time and resources, which can be a formidable barrier for professionals already grappling with the demands of their roles. Moreover, staying updated with the latest AI trends and applications requires continuous learning, which can be a daunting task in an already fast-paced and competitive industry. Consequently, this knowledge gap poses a considerable hindrance to marketers seeking to integrate AI seamlessly into their strategies and campaigns.

With the goal of bridging this knowledge gap, the upcoming Flux Series: Marketing Leaders happening in Jakarta on November 15 aims to foster knowledge sharing among key industry stakeholders to help equip them with the tools and insights needed to achieve seamless AI adoption.

Get discounted tickets today!

One of the key topics that will be discussed is “Building A Future-Proof AI Team: Cultivating a Culture of Continuous Learning and Talent Development for Disruptive Technologies” where participants will learn strategies for creating a learning-centric environment within AI teams to adapt to disruptive technologies, insights on how to cultivate an adaptable and growth-oriented mindset in the hiring and team-building processes, ideas for effective hiring strategies that identify and recruit individuals with self-directed AI-learning capabilities, and ultimately, how to nurture a collective pool of self-learned AI expertise within your team.

Meet the speakers

The event will feature a slew of leaders in marketing who will be guiding the discussion to help empower participants with practical knowledge on how to build a future-proof AI team. These are some of the speakers who will be engaging audiences at the panel discussion:

Wilson Yanaprasetya holds a bachelor’s degree in Computer Engineering from the University of British Columbia. Upon graduation, he worked for TELUS for six years before returning to Southeast Asia and joining KPMG Singapore. Later, he joined Northstar Group for four years and was then hired as COO for one of the largest job portals in Indonesia, Qerja, where he grew the company’s revenue by 700% YoY and its monthly active users by 9x. He merged the company with karir.com and exited. Having experienced firsthand the profound challenges faced by rural communities in their country, Wilson and other founders combined their knowledge and expertise to build Dagangan.

Dagangan is the trusted tech-enabled rural commerce platform that provides access to daily necessities at affordable prices to rural communities. We are here to accelerate Indonesia’s economy by powering communities and providing greater economic opportunities for all.

Winston Lays is currently building Ajaib to democratise investing and financial services for millions of Indonesians. Before Ajaib, Winston founded Delos — a digital technology consultancy. They partner with enterprise leaders on how to best leverage technology and achieve better business outcomes. Their focus and speciality lie in delivering next-gen solutions for companies across industries such as FinTech, eCommerce, and F&B.

Currently, he is the Co-Founder and CTO of Ajaib, an online brokerage that allows Indonesians to buy and sell stocks, ETFs and mutual funds. They are Indonesia’s leading financial technology platform driven by a mission to educate the importance of investing for the future.

Also read: Learn how to achieve automation in operational processes and workflow at Flux

Dita Aisyah is the Co-Founder & Chief Commercial Officer of Binar, an EdTech company with a mission to close the education gap in Indonesia, preparing Indonesia’s future tech leaders with strong skills and character for the global stage.

In her capacity as Chief Commercial Officer, Dita masterminded the growth of the business, overseeing all segments, including B2C, B2B, and B2G. Under her leadership, Binar has grown exponentially, serving almost one million app users and partnering with hundreds of companies and government institutions to accelerate their digital transformation journeys. In 2022 alone, Binar empowered over 130,000 new digital talents.

In 2022, Dita earned a spot on Forbes’ 30 Under 30 lists in Indonesia and Asia, as well as the Gen T List by Tatler Asia in 2023. Prior to building Binar, Dita was the Commercial Marketing Manager of GoJek’s lifestyle products. She earned her Bachelor of Science in Economics from Georgia State University.

Moderating the session is Rama Mamuaya, the Founder and CEO of DailySocial.id, an Indonesia-focused startup media, research, consulting firm, and Founding Partner at DS/X Indonesia-first investment firm. Rama is also active at Amvesindo (Indonesia venture capital and startup association), Indonesia Digital Association, and numerous startup incubation programs both in Indonesia and abroad.

Through his work at DailySocial.id, he helps corporate clients engage with the startup community in their innovation programs such as research, hackathon, incubation/accelerator, and innovation training. DailySocial has worked with hundreds of clientele from multi-national companies, Fortune 500, state-owned enterprises, and major startups.

Join Flux Series

In the age of disruptive technologies, building a future-proof AI team is not just an advantage; it is a strategic imperative. Cultivating a culture of continuous learning and talent development empowers teams to adapt to the ever-changing landscape of AI, fostering innovation, attracting top talent, and ensuring compliance with ethical and regulatory standards. By investing in the growth and development of their AI teams, organisations position themselves to lead the way in the exciting and transformative world of artificial intelligence.

Also read: Learn how to Harness AI for cost-efficient strategies with GDP Labs CEO & CTO

Join these industry leaders and more at the Flux Series and be a driving force in the AI-powered marketing revolution. To learn more about the event, you may visit the official Flux Series: Marketing Leaders page.

Get ready to embark on a journey that will not only deepen your understanding of AI-driven marketing but also equip you with the actionable insights needed to thrive in the dynamic world of modern marketing.

Join Flux Series: Marketing Leaders with discounted tickets here.

The post Future-proof your AI team with insights from Dagangan, Ajaib, Binar, and DailySocial.id appeared first on e27.

Singapore-based enterprise tech ecosystem VE Technology Group has announced a S$30 (US$22) million funding round led by alternative investments firm Mox Capital.

The company will utilise the capital to expand into Southeast Asia in preparation for an upcoming IPO listing for the group and its subsidiaries in 2024.

Also Read: Executing a winning ecosystem strategy: What we can learn from Arm and its upcoming IPO

Founded in 2019, VE Technology Group operates a unified ecosystem of B2B enabling enterprises and digital solutions. The network brings together over 15 acquired subsidiaries specialising in delivering end-to-end business solutions across artificial intelligence (AI), Internet of Things (IoT), cybersecurity, robotics, software development, and business consultancy.

Its portfolio currently includes the likes of Corsiva Lab, Web Imp, and Sellstream.

The group is also actively navigating the intersection of traditional enterprise solutions and emerging Web 2.5 trends. This shift resonates with Mox Capital’s work in nurturing technological innovators in the region.

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“The B2B SaaS is currently the fastest-growing market globally, especially in Southeast Asia. This is a clear indicator of the transformative opportunities of B2B-enabling tech — and the reason why this fundraising round represents more than just capital. It embodies our investors’ trust in our vision to empower the next generation of small-and-midsize businesses (SMBs), connected in what will become the region’s largest Web 2.5 technology ecosystem of high-potential digital solutions,” said Loh June Yong, CEO of VE Technology Group.

Also Read: Exit Strategies: Ways to get your money back besides IPOs and M&A

The group claims to have recorded 100 per cent year-over-year growth since its inception in 2019.

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There are several challenges faced by the Indonesian fishing industry, with one of them being the continuously decreasing number of fishermen working in the country. According to data, the number of Indonesian fishermen has declined to only 1.27 million by 2022, representing a five per cent decrease from the previous year.

However, the Ministry of Maritime Affairs and Fisheries has set an ambitious target for the sector’s contribution to national economic growth. They aim for a six per cent growth in 2023, which translates to a target production of approximately 20.54 million tons of fish and seafood products.

Local startup FishLog wants to help the country achieve that through its integrated fishery solutions.

It aims to improve operations for fishermen indirectly by enhancing the efficiency and transparency of the seafood supply chain. According to the startup, even if fishermen are not the end users of the platform, they benefit in some areas: Reduced waste, fair pricing, streamlined operations, market access, trust and reputation, as well as data for decision-making.

“Compared to existing alternatives which only do trading and supply-demand matching and basic inventory management system, FishLog provides a comprehensive, end-to-end solution that addresses the entire supply chain, making it more efficient, transparent, and equitable,” says Galih Husni Fauzan, Head of Marketing, Communications & Partnership at FishLog in an email to e27.

“It helps build a sustainable seafood industry by reducing waste, supporting fair pricing, and ensuring that fishermen are not left out of the benefits of improved supply chain operations.”

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According to Fauzan, the founders of FishLog–Abdul Halim (CBDO & Co-Founder), Bayu Anggara (CEO & Co-Founder), and Reza Fahlepi (CCO & Co-Founder)–had a background in the seafood industry and are supported by a team with expertise in supply chain management and technology.

They identified pressing problems in the fishery supply chain, such as inefficiencies, lack of transparency, and sustainability, then performed extensive market research to uncover the solutions.

“The development of FishLog’s solutions would involve building or partnering with tech experts or partners to create the blockchain-based traceability system, the B2B marketplace for seafood, and the warehouse management systems. This likely involved software development, hardware integration, and database design,” Fauzan says.

“The plan is to use the existing WMS platform that we have to enable the inventory visibility and then use B2B
marketplace as the solution for the raw material trading and arms it with the smart contract and financing to allow the buyer purchase in more quantity or having better cash cycle management on their side.”

By using blockchain in its Fishlog Trace product, the company wants to make the distribution of fishery products as traceable and trusted as possible.

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Building a more sustainable business

Through a partnership with Indonesia’s Ministry of Marine Affairs and Fisheries, Fishlog is able to secure its partners and visit fishery supply locations, enabling them to discuss pain points and start off collaboration.

Currently run by 154 people, Fishlog–who is an alumnus of the Startup Studio Indonesia programme–has three revenue streams: inventory selling, inventory management and inventory
financing.

“For inventory selling, we simply take margin from our supplier to our customer. Inventory management, on the other hand, we charge a very small percentage from our partner’s inventory, but for now, we partially waive that charge because we want to grow our partner base exponentially. For inventory financing, we simply take the rate between our lender and our borrower,” Fauzan elaborates.

The company is currently raising its Series A funding round and has engaged with global investors, particularly those from the Southeast Asian (SEA) region.

In 2024, Fishlog wants to focus on helping export contribution from 15 per cent to 50 per cent, entering the US market with new categories of tuna and shrimp, and expanding to SEA as a supply country.

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Image Credit: Fishlog

The post How Fishlog aims to revolutionise Indonesian fisheries with cutting-edge tech solutions appeared first on e27.

The Global Startup Program, organised by the Italian Trade Agency (ITA) in collaboration with the Ministry of Foreign Affairs and International Cooperation, has returned to Singapore with a new group of eight Italian startups, pitching on the demo day of the 4th edition to be held in Singapore on November 7, 2023.

Hosted by the Accelerator Tenity Singapore, the programme presents an opportunity for the eight startups — from diverse sectors in fintech, healthtech, blockchain, health & fitness, sustainability, and HRtech —  to bolster their technical, organisational, and financial prowess, gearing up for global challenges and new markets ahead.

Also Read: Meet the startups joining Tenity’s latest incubation programme in Singapore

The program aims to empower Italian startups to conquer global markets, focusing on innovative products and services that showcase the excellence of ‘Made in Italy’.

Below are the brief descriptions of the startups pitching on the Global Startup Program demo day:

SPARKD BOX

A cognitive-motor training solution to enhance brain-body performance. SPARKD BOX can be deployed into existing facilities, including senior homes, assisted living and senior community centres, to enhance and complement existing wellness programmes.

Carchain

Carchain empowers car owners and businesses to establish immutable vehicle records using dynamic NFTs on the blockchain. The platform covers everything from tracking CO2 emissions and offsetting them, allowing both current and future owners to construct a secure and transparent history of a vehicle’s data, integrity, and lifespan. This information is captured within a digital ID that can be easily shared, sold, or transferred, ushering in a new era of trust and accountability in the automotive industry.

Coffeefrom

Coffeefrom transforms spent coffee grounds from the food industry into innovative and sustainable new thermoplastic materials. It offers three different materials, each with different characteristics and applications.

Also Read: The infinite game of leverage: A startup’s guide to time affluence and productivity

Fairtile

Fairtile is a credit intelligence and automation platform. It develops a modern hybrid multi-cloud platform for credit intelligence and automation solutions. The startup leverages Big Data, human science and AI to unleash real-time intelligence and automation at scale.

Hacking Talents

Hacking Talents is the digital solution that develops behavioural and communication skills in organisations through standard processes that allow each individual to work on their talents. It makes the entire organisation more sustainable and competitive within its market.

 iWise

iWise develops and markets software for business assessment and investment monitoring.

Sensosan Sell

Sensosan is an augmented air platform for indoor environments to impact neurophysical health & well-being naturally: breathing.

Wibiocard

Wibiocard specialises in cutting-edge smart card technology integrated with biometric fingerprint recognition. It delivers state-of-the-art solutions that provide secure access control, streamlined identification, and exceptional user experiences.

The post A quick look at the 8 Italian startups pitching on the demo day of Global Startup Program appeared first on e27.