Embarking on the venture capital journey is like stepping onto a rollercoaster for entrepreneurs. The ride is filled with exhilarating highs, nerve-wracking twists, and unexpected turns.

Amidst these challenges, one obstacle that entrepreneurs frequently encounter is the silence that ensues after a pitch — the notorious VC ghosting. While this can be disheartening, it is crucial to recognise that it is not the end of the road.

In this article, let’s delve into the reality of VC ghosting and equip entrepreneurs with effective strategies to navigate through this challenging phase.

Researching investors: Choosing the right partners

Before immersing oneself in the intricate world of venture capital, entrepreneurs must undertake comprehensive due diligence on potential investors. Venture capitalists are not a homogenous group; each has their unique preferences and communication styles. Some may even be notorious for their tendency to “ghost” entrepreneurs.

Also Read: Navigating VC funding: The crucial role of a well-managed cap table

It is imperative to select partners who not only boast a successful track record but also share a common vision and values with your venture. This alignment not only enhances the likelihood of securing funding but also establishes the groundwork for a sustainable and fruitful long-term collaboration.

Maintaining calm and persistence: A virtue in entrepreneurship

The post-pitch waiting period can be a nerve-wracking experience. It is essential for entrepreneurs to maintain composure and understand that silence is an inherent part of the venture capital process. Persistence is a key virtue in entrepreneurship, and this situation is no exception.

Following up with potential investors in a professional and courteous manner is essential. Losing composure could have repercussions, as the venture capital community is closely connected, and reputations carry significant weight. Remember, entrepreneurship is a journey, and how you navigate setbacks can significantly influence your path to success.

Diversifying outreach: Avoiding the egg-basket syndrome

Relying solely on a single venture capitalist can be a risky strategy. Diversify your outreach by casting a wider net. Approach multiple venture capitalists simultaneously to increase your chances of receiving positive responses.

A diversified approach not only mitigates the impact of potential ghosting but also exposes your business to a variety of perspectives and opportunities. This increases the likelihood of finding the right match for your venture.

Networking: A lifeline for entrepreneurs

Networking is not merely a buzzword; it is a lifeline for entrepreneurs navigating the challenging terrain of VC funding. Building connections with fellow entrepreneurs, industry experts, and mentors is crucial.

These connections can provide valuable advice, share experiences with VC interactions, and even offer introductions to potential investors. A robust network can open doors and help you overcome the setbacks of ghosting, turning challenges into opportunities.

Pitch refinement: Turning setbacks into opportunities

While waiting for responses, use the time to refine your pitch. Analyse feedback received from previous pitches and make necessary adjustments. A stronger, more polished pitch not only increases your chances of capturing the attention of venture capitalists but also demonstrates your ability to adapt and improve — a trait highly valued in the entrepreneurial world.

Also Read: Who is doing what: Understanding the different job titles in a VC firm

Understanding you’re not alone: A rite of passage

It is crucial for entrepreneurs to recognise that VC ghosting is a shared experience. Every successful entrepreneur has faced setbacks in their journey. Instead of viewing it as a roadblock, treat it as a rite of passage on the road to success. This shift in perspective can help maintain a positive mindset, which is crucial for resilience in the face of challenges.

Utilising interim periods: Strategy for productive waiting

While waiting for responses, entrepreneurs can utilise the interim period productively. This includes conducting further market research, fine-tuning business strategies, and exploring potential partnerships. By staying proactive during this waiting period, entrepreneurs can showcase their commitment to continuous improvement and development.

Leveraging technology: Enhancing communication efficiencies

In the digital age, technology can play a pivotal role in improving communication efficiencies. Entrepreneurs can leverage tools and platforms for automated follow-ups, analytics, and collaborative communication. This not only streamlines the communication process but also demonstrates a commitment to utilising technology for business growth.

Final thoughts

In the unpredictable world of venture capital, navigating through the challenges of ghosting requires a combination of strategic thinking, resilience, and a positive mindset.

By conducting thorough research on potential investors, maintaining calm and persistence, diversifying outreach, leveraging networking, refining pitches, understanding that setbacks are part of the entrepreneurial journey, and utilising interim periods productively, entrepreneurs can increase their chances of success.

In the quest for funding, remember that finding the right investor aligned with your vision is as important as securing funding itself. Stay positive, keep pushing forward, and remember that the journey to success is often marked by hurdles that, when overcome, contribute to the growth and resilience of your entrepreneurial endeavour.

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Earlier in December, Singapore-based Evercomm received The COP28 UAE TechSprint award for solutions that aim to address challenges in sustainable finance in the effort to scale up climate action.

In an email interview with e27, Evercomm CEO Chen Chiu-Hao (Ted) explains how winning this “significant achievement” will affect the company in the long run.

“As we set our sights on COP28, this accolade complements our global engagement strategy by boosting our profile on the international stage. It’s not just an endorsement of our work but also an invitation for global stakeholders to take notice of our capabilities beyond Southeast Asia. This award opens up conversations with international players and lays a foundation for strategic partnerships crucial to our expansion goals,” he writes.

“The prestige associated with this award propels us forward with greater confidence. It reaffirms our strategic direction and fuels our commitment to advancing our international expansion. This recognition will facilitate more accessible entry into new markets, attract top-tier talent, and potentially lead to favourable investment opportunities. Ultimately, the award accelerates our mission to drive sustainable change on a global scale.”

Evercomm harnesses smart sensor and machine learning technologies to provide data-based tools for decarbonisation.

Also Read: B Capital believes in startups, corporates collaboration to bring decarbonisation efforts forward

Founded by NTU graduates and headquartered in the NTU Innovation Center, it offers enterprise end-to-end energy management solutions, including energy data collection, data analysis and insights reporting. Beyond collecting data, it also checks its quality, sifting out unreliable information that may distort the authenticity of the report.

“We aim to address the critical issue of greenwashing in carbon-related disclosures, a prevalent problem that undermines climate change mitigation efforts. Our solution leverages advanced digitisation techniques for more accurate and transparent data collection and verification. This approach enhances the reliability of carbon emission disclosures and significantly streamlines the process,” Ted says.

“Our method is faster and more cost-efficient, enabling organisations to achieve internationally validated results in a matter of days, starkly contrasting to the traditional months-long timeframe. This rapid and affordable validation is crucial for organisations striving to meet global climate commitments.”

Taking part in climate action

Prior to founding Evercomm, the team behind the company had been working on analytics for sustainability in areas such as energy efficiency since 2013. It expands its offerings as customers’ requests come flooding in.

“Recognising this as a natural and strategic extension of our services, we embarked on an extensive research and development process. Our goal was to adapt and enhance our existing analytics frameworks to accurately measure and manage carbon footprints. This expansion to include Scope 1, 2, and 3 emissions was critical. It meant we could offer a holistic view of an organisation’s environmental impact, covering direct emissions, indirect emissions from purchased energy, and all other indirect emissions in the value chain,” Ted explains.

“By doing so, we have positioned ourselves to provide more comprehensive and actionable insights, helping clients make informed decisions in their journey towards reduced carbon footprints and greater environmental responsibility.”

Also Read: India and Southeast Asia’s climate tech sector set to reach US$350B by 2030

Evercomm has a user base that spans various sectors, including manufacturing, heavy industry, real estate, transportation and logistics, construction, agriculture, and data centres.

To engage clients from a wide variety of sectors, Evercomm goes beyond visualisation and reporting in its approach.

“We focus on delivering specific compliance reporting to ISO standards, complemented by digital verification, which resonates with the rigorous demands of our clients. Our emission reduction recommendation engine is a cornerstone of our offering, featuring thousands of equipment specifications, more than 50 proven emission reduction technologies, seamless data integration with a multitude of systems and protocols, and a unique thermodynamic/physics validation system for ensuring data accuracy to avoid garbage-in-garbage-out in AI,” Ted elaborates.

In acquiring potential users, Evercomm employs a multifaceted strategy.

“This includes targeted outreach to sectors where our solutions are most applicable, forming partnerships with key industry bodies, actively participating in relevant conferences and seminars, and showcasing our capabilities through detailed case studies and client testimonials,” Ted says.

“For a climate tech startup like ours, it’s crucial to demonstrate not just the technical robustness of our solutions but also their real-world impact and compliance capabilities. The evolving landscape of environmental regulations and the heightened focus on sustainability credentials necessitates a more nuanced and credibility-focused approach to user acquisition, which we continuously adapt and refine in our strategies.”

Also Read: Mandiri Capital, Investible launch climate tech fund for SEA, Oceania markets

The climate in 2024

Evercomm plans to focus on its strategic global expansion plan for the next year.

“The past year has seen us laying the groundwork in key Southeast Asian markets plus Japan and Taiwan, where we’ve identified significant growth opportunities and demand for our decarbonisation solutions,” Ted says.

“In line with this trajectory, the first quarter of next year is set to mark the inauguration of our first European office. This milestone is a testament to our growth and a strategic move to tap into Europe’s progressive climate policies and advanced sustainability markets. By being proximal to our European clients, we aim to offer more tailored services and strengthen our presence in a region pivotal to the global sustainability dialogue.”

In the next stage, by Q1 and Q2, the company will focus more on establishing a presence in the Middle East.

“Given the region’s increasing investment in various sustainability initiatives, the Middle East expansion is fascinating. Given its traditional reliance on fossil fuels, this move is designed to position us advantageously within a market with high potential for decarbonisation projects,” Ted closes.

“These strategic expansions are carefully selected to align with our commitment to providing localised support and services, understanding regional compliance and sustainability challenges, and enhancing our global reach. By executing this plan, we aim to significantly amplify our impact on international decarbonisation efforts.”

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Image Credit: Evercomm

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Indonesia is one of the world’s largest agricultural nations, with the sector accounting for more than 40 per cent of its total employment. As one of the top 3 sectors in Indonesia, contributing 12.4% to their total GDP, agricultural goods account for a gross production value of approximately 106.54 billion U.S. dollars in 2021.

In order to grow sustainably, the industry will need to overcome challenges such as the limited access to cutting-edge technology and a high learning curve for adoption, as most parts of the agricultural supply chain reside in rural areas with inadequate infrastructure.

Bridging a sustainable agricultural supply chain for B2B and B2C markets

Sayurbox is building Indonesia’s fastest-growing supply chain platform with full integration from farm to end consumer. They serve fresh produce from farms directly to enterprise businesses, general trade, modern trade, and Horeca, as well as their direct-to-consumer e-grocery platform. Operating 24 hours a day, 7 days a week, Sayurbox provides overnight and same-day deliveries.

Sayurbox was founded to provide market access to local farmers through the digitalisation of Indonesia’s agri-supply chain. With more than 10,000 farmers spread across Indonesia, Sayurbox aims to create a sustainable and holistic ecosystem. They serve more than 5,000 SKUs of various products and collaborate with both internal delivery partners and third-party logistics partners who are ready to deliver to the designated location.

According to Metha Trisnawati, Chief Business Officer and Co-Founder of Sayurbox, “We have been focusing our effort in building the end-to-end supply chain infrastructures from the upstream, meaning, we build relationships with and grow our network of farmers and suppliers.”

Also read: The Future of Capitalism: Get the chance to win $5 million worth of investments

The company follows its dedicated social mission with the “Planting Program”, designed to support local farmers and increase the supply of agricultural products. They also implement a Zero Waste program by donating waste (both organic and inorganic) to recipient partners, including Lembang Park Zoo, Taman Safari, Lembang Dairy Farmers, and several others.

The first step to disruption would mean analysing the user segments that empathically profile the existing stakeholders. Thereafter, segmented personalised journeys are orchestrated for precise and tailored communication, enhancing marketing effectiveness through existing customer data.

Through CleverTap’s all-in-one customer engagement platform, Sayurbox is able to monitor the results for different types of communications sent and allow for necessary changes. For example, customers that are not responsive to specific messaging may be retargeted for other forms of marketing communications. Sayurbox can then check which strategies work best to engage customers effectively, By leveraging CleverTap’s segmentation capabilities, Sayurbox could target specific customer groups with tailored promotions, enhancing the overall user experience. This comprehensive solution not only improved customer satisfaction but also contributed to increased retention and conversion rates for Sayurbox, showcasing the power of CleverTap in optimising and maximising the impact of their communication efforts.

“Understanding the right segment has been helping us to improve the retention performance for that segment, and then making sure that we can continuously learn about their behaviour and then tailor into the communication upon switching through the CleverTap platform,” added Metha.

More than numbers

Building the right channels and distribution network is crucial in satisfying the needs of both the B2B and B2C markets. Enhancing click rates and conversions is more than just numbers. It can also create an impact on the customers’ everyday lives. 

For starters, creatively pushing different messaging can become a value-adding experience for those consuming the content they are pushing. For example, households looking for inspiration in meal plans will be able to find a wealth of information through the Sayurbox platform.

CleverTap is making this easier by building easy-to-use, complete and relevant features that are suitable for Sayurbox to manage the different segmentations within the latter’s users. As a result, Sayurbox is able to improve its conversion rate, thereby maximising its influence swiftly.

Metha appreciates this advantage for the Sayurbox team. “The efficient end-to-end setup compared with other platforms has helped us increase productivity during working time.” This helps them serve more farmers’ and clients’ needs and ensures Sayurbox delivers their programs to the right communities.

Also read: Airwallex Singapore in 2023: Growth, partnerships, and talent recognition

A multichannel platform also allows for multiple touchpoints, allowing the company access to helpful customer data and reach its audience from where they are standing. Relying on a single communication channel has never worked to build holistic customer relationships, and Sayurbox understands this on a fundamental level. Metha shared that “Engaging in a multichannel platform has been helpful in defining the journey for each segment. With every hypothesis formed, we onboard them on the first step of the journey, and they are afforded their personal navigation and exploration of the products.”

Metha added, “The ability to have multiple communications to reach our audience has been helpful for us to design and experiment on their effectiveness based on our customers’ lifecycle stage.”

In short, doubling down on personalisation is critical. Businesses must understand that relevant communication is the best way to capture their attention and provide assurance that they are committed to solving their users’ needs. A superior product is crucial, yet effective communication tailored to the customer is transformative.

For more information on how to better engage your customers, visit the CleverTap website. 

To learn more about Sayurbox, visit their website.

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

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Neutura, a Jakarta-headquartered carbon removal startup, has secured an undisclosed amount in angel funding for its two biochar projects in 2024.

The names of the investors remain undisclosed.

The announcement was made during the COP28 event in Dubai.

Also Read: Hydrexia enables users to store and transport hydrogen more economically with less space

Founded in 2023, Neutura harnesses the untapped potential of agri-waste to leverage carbon opportunities.

Trees and plants, as biomass, naturally absorb CO2 through photosynthesis yet release it into the atmosphere upon decomposition. Neutura’s mission is to intercept these CO2 emissions by transforming biomass into biochar via pyrolysis, effectively sequestering carbon and preventing its release into the atmosphere.

Biochar is a carbon-rich charcoal produced through pyrolysis. Beyond soil enrichment, it enhances water retention, soil structure, and crop health, reducing reliance on chemical fertilisers for sustainable agriculture.

Neutura biochar serves as a long-lasting carbon-stable material capable of locking carbon for generations. It’s versatile, catering to soil enhancement and construction needs, all while generating carbon credits as an added value.

“We see agricultural waste not as a problem but as a potent solution,” said Laksamana Sakti (Alif), Co-Founder of Neutura. “By converting this waste into biochar, we are tackling multiple challenges–reducing GHG emissions, improving soil health, and creating sustainable farming practices.”

Neutura’s projects aim to transform agricultural waste into valuable resources and reshape the carbon removal landscape by focusing on sustainable waste management in Southeast Asia and Southern Europe.

Also Read: 16 youth ambassadors championing sustainability in e-waste

Neutura’s biochar benefits extend beyond farming, finding uses in metallurgy and cement and improving material properties while reducing environmental impact. The vision is to integrate biochar across industries for a greener planet.

With energy-efficient pyrolysis technology integrated into factories, Neutura’s projects follow a robust, scalable model. It aims for long-term profitability through biochar sales and carbon removal credit generation.

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