Only in exceptional circumstances is fundraising a joy ride —-quick and painless. More often, it is an arduous journey with twists and turns so saddle up and get ready.

This post aims to demystify the fundraising process and arm you as a founder with practical knowledge which will give you endless options and advantages through the fundraising process.

Sections are sequenced in alphabetical order (for no overarching purpose other than the author’s satisfaction) and split into two parts, A to L (Part 1) and M to Z (Part 2).

I would advise you to read through each of the sections eventually but I am aware we live in a “TLDR” world, so feel free to skip to sections that are most important to you in the first instance.

It is a precarious enterprise to simplify the intricacies of fundraising in one post but we must proceed anyway.

Business-as-usual. Who is in charge when you are not?

Even with all the help in the world, fundraising can be quite time-consuming for a founder. Amongst many other things, investors expect quite a bit of face time with you (and rightly so).

We understand that you believe you can do everything and all at once, otherwise, you would not be foolish enough to be a startup founder, but despite all your superpowers even the best gets tested during a fundraising process, especially a prolonged one, like most of them are.

Also Read: Exploring the evolving VC landscape: An insightful outlook on venture funding in 2023

You are always walking a tight rope of running your company, delivering on business targets and trying to secure funding to keep delivering on said targets; one does not work without the other.

To keep walking the proverbial rope, a business continuity plan needs to be put in place with your co-founder(s) or senior team outlining the fundraising objective and the expected time you will be (sort of) out of action.

As a broad rule, when you are engaged in a fundraising process you will need to devote perhaps 30–50 per cent of your time to it, and when you are in the peak period of advanced investor discussions, due diligence and negotiating a term sheet this could easily take up 80 per cent of your time.

Assign one person as your proxy when you’re not present — be clear about what they can and cannot sign off on, the latter being only major life and death decisions.

Since you can’t be out completely, perhaps allotting certain days in the week to focus on the business is useful but of course, you will have to be flexible to external requests.

Capital structure

The capital structure of a startup evolves through its lifetime.

• You start off with ordinary shares for yourself and your early employees along with some stock options (converted to ordinary shares in due course);
• As investors start coming in, they ask for preferred shares with certain preferential rights attached to them;
• Sometimes, the path to preferred equity might go via a convertible note, effectively an interest-carrying debt instrument which is either paid back at the maturity date or can be converted to preference shares either at the time of investors’ choosing or at the next priced round at an agreed discount and/or a valuation cap;
• You might even do (YC-pioneered) Simple Agreement for Future Equity (SAFE) which is a simplified version of a convertible note — it will get converted to preference shares at a discount and/or cap tagged to the next round but is not a debt instrument;
• Venture debt is another increasingly popular form of funding with different types emerging out of the woodwork, the “OG” venture debt was a simple term loan with an equity kicker (e.g. warrants) but now you can get venture debt secured against revenue, inventory or your own shares and might come with a personal (founder) guarantee ask.

The idea is to set the right foundation (precedence) and consistent structures as you move through subsequent fundraising rounds.

Also Read: ChopValue scores US$7.7M funding to recycle chopsticks into furniture, home elements

More of this is in the Term Sheet section.

Due diligence and data room: The must-haves, the should-haves, and the nice-to-haves

The due diligence process and requisite information vary subject to funding stage, type of investor, and geography.

However, our aim is to slightly over prepare for the “median investor”— keeping in mind that no investor would complain about the data room being too comprehensive and answers being readily available but being well prepared might just save you weeks in the back-and-forth.

Here is a standard checklist of key documents you should have in the data room. For ease, items have been assigned a priority tier from one to three —-one being essential, three is a bonus while two is everything in between; and a phase either one or two — one to be provided before and phase two to be provided after the Term Sheet is signed.

Treat it as a guide rather than a strict framework to allow variability.

In terms of hosting the documents, I highly recommend you use a specialised virtual data room (VDR) provider versus a Google Drive/Dropbox.

Now, this is not a must for early-stage fundraisings but does help to build a cadence. More of this is in the Resources and Tech Tools section.

Also Read: GlobalCare bags funding from VinaCapital to provide insurtech solutions to Vietnamese insurance firms, agents

Employee Stock Option Pool (ESOP)

Employee Stock Option Pool (ESOP) allows your employees to become shareholders in the company and participate in the upside.

When done right, it is one of the most important tools to hire, incentivise and retain great talent. An ESOP’s fundamental purpose is to align the interests of employees and shareholders.

You should carve out about 10–15 per cent for the option pool at the time of your first fundraising round. Incoming investors may have differing preferences for the following rounds but if up to you, you should maintain this ESOP level at least until Series B.

One to two per cent for key senior hires and less than 0.25 per cent for junior hires adjusted based on the need of a particular skill set (e.g. you may prioritise engineering over marketing).

The traditional schedule is four years vesting with a one-year cliff —-employee gets 25 per cent immediately after a year then proportionately until year four either on a monthly or quarterly basis.

Some of the alternative schedules which promote retention and performance are back-loaded vesting — granting a higher proportion in later years and performance-based vesting — granting shares based on achieving certain performance targets.

Performance-based vesting usually complements the time-based vesting schedules (either, front-loaded or back-loaded).

Also Read: Mobee launches crypto exchange in Indonesia, secures funding

Financial model

There are many variations of a financial model and most of them get the job done in terms of investor evaluation and due diligence. Below is a checklist of items that are essential to any variant of a financial model.

• The Big 3: Profit & Loss (P&L), Balance Sheet and Cash Flow —-all three integrated with each other, i.e. when a line item moves in one, it moves in the other.
• Financial forecast covering at least three years ahead on a monthly basis, five is even better (following two years can be on a quarterly or even yearly basis).
• Historical accounts in a similar format to the forecasts, going back since inception, which provides unit economics evidence for forecasts and is readily reconcilable with the company’s management accounts or audited statements.
• Revenue build sheet with robust drivers either built from bottom-up (better option) or top-down, bonus if you can build from bottom-up and validate from top-down. From a bottom-up point of view, what is most important is to be able to see the drivers of revenue growth, e.g. X number of customers buying Y volume of products at Z price. This is generally referred to as “unit economics”, and depending on your stage of growth will be a topic investors will want to deeply understand, along with the cost of acquiring those customers.
• Cost build sheet with high-level assumptions for general operating expenses and detailed assumptions for key cost buckets (e.g. marketing, tech) tagged to revenue where applicable; common pitfall — understatement of the forecasted cost structure vis-à-vis forecasted revenue resulting in an overstatement of margins and early breakeven.
• Some of the Balance Sheet items should be tagged to items in the P&L or Cash Flow Statement e.g., accounts receivables from revenue and cash in the bank from closing cash respectively.
• Similarly, some Cash Flow Statement items should be connected to the P&L items (e.g., net profit) and Balance Sheet items (e.g. accounts payable).
• Use of funds should be driven from operating expenses, working capital and capital expenditure in the P&L and/or Cash Flow Statement. Remember to adjust for funds from operations (gross profit), external financing for working capital (if any) and interest expenses.

Also Read: Tackling misinformation and creating a safer internet through blockchain amidst Asia’s lockdowns

Financial Advisor. Not every company needs one

The decision to hire a financial advisor should be based on certain factors such as funding stage, due diligence sophistication, team bandwidth, sector, shareholder base, founder’s network and fundraising experience.

• Stage.A company raising a typical Seed or Pre-Series A round does not need to hire a financial advisor — your target audience (Early-Stage VCs, Accelerators, Individuals, Family Offices) do not expect to be dealing with a financial advisor, don’t need the sophistication in terms of DD or materials and expect it to be a founder-led raise.
• Due diligence sophistication. Will you pass the litmus test of investor due diligence? Refer to DD and Data Room section to check if you have everything in place. Then ask yourself; do I need to hire an advisor to do this or is this easily done in-house?
• Team bandwidth. How built out is your finance and corporate development function particularly in the context of a fundraising campaign — do they have time for (and experience in) managing a fundraise while doing their day jobs? If you are not sure — consider hiring an advisor.
• Sector and investor appetite. Do you operate in a niche or emerging sector where the number of deals is fairly low and the investor universe is relatively limited? Hire an advisor with an established track record and investor network in the space. There are several boutique advisors which specialise and have deep expertise in certain sectors —-find yours.
• Established shareholder base. If an established VC with proactive portfolio management and a fully built-out team (e.g. East Ventures) holds a significant stake in your company —-you will probably get sufficient help from them in terms of preparing for a transaction and investor introductions. Shareholder support combined with in-house expertise may be enough not to hire a financial advisor.
• Founder network and fundraising experience. In the fundraising context, there are two types of founders, the superstar fundraisers and the rest. If you are a second- or third-time founder on the back of successes or “good failures” — chances are you have a universe of investors who will back you at least for the first two rounds or even if as a first-time founder you have managed to raise a bumper first round, the second one is a relative cakewalk. However, if this does not apply to you — consider hiring a “well-connected” financial advisor
• Market perception. Bankers sometimes have a bad name (a few bad apples, as they say) and we often hear that having an advisor representing you in an early stage fundraising is considered a red flag and turns off investors. I say, you decide for yourself by commensurately factoring in the “perception risk” along with other (arguably) more important considerations mentioned here — no serious investor should pass on a good opportunity because of this reason.

Governance and reporting. But aren’t startups exempted?

As an early-stage startup, you will get a lot of leeways but as a relatively mature startup, there are certain things that you are expected to have in place by institutional investors. Why not start early?

• Board oversight. Quarterly board meetings to set clear objectives and KPIs (OKRs, sorry) for the company and senior team and monitor progress with the maintenance of proper records.
• Shareholder reporting.All shareholders should be invited to Annual General Meetings (AGMs) and receive materials in order to update them on annual performance and future plans.
• Employee morale and wellness is the single biggest asset of a growing start-up. Hire an expert (internally if you can) to put a scalable program in place and personally monitor its effectiveness.
• Impact evaluation is not easy for private markets as there is no standard framework. However, VCs in Southeast Asia are now taking a more proactive approach in understanding and developing frameworks, perhaps with a little push from their own investors (LPs) which means it will eventually become an essential ask for you. IIX Values provides a simple self-assessment tool for you to get started.
• Some other items you may want to consider is the additional insurance coverage (e.g. director’s insurance), tight employment agreements (e.g. IP assignment, see Telio) and proper treatment/disclosure of related party transactions (e.g. if founder has an interest in a key supplier, see WeWork).

Also Read: Tackling misinformation and creating a safer internet through blockchain amidst Asia’s lockdowns

 Holding company

If you run a startup in Southeast Asia, Singapore is the go-to destination to domicile your holding company. The Singapore Government and its agencies such as the EDB have made a concentrated effort to make it so.

A supportive regulatory framework, low tax rates, friendly treaties with most countries, access to world-class professional services and talent — some of the reasons why investors and founders alike prefer a Singapore-based Holding Company, even if the operations are elsewhere.

It is of course easier if you have this from the start but fret not, it is quite common to do it (corporate restructure) later when you start picking up more traction (and money).

Investment notes

Increasingly, investors have started to release their investment notes outlining the thesis and investment rationale after making an investment. Think of it as a “public appropriate” version of the investment committee paper.

The basic format is as follows —-the major problem being solved/opportunity being addressed, the dollar value of the market opportunity, how is the company uniquely placed to succeed, what are the future growth engines, traction to-date and in the future, valuation justification (if public).

I would ask you to put yourself in the investor’s shoes and write one yourself in addition to asking your major shareholders to share their “investment note” from the time they made the investments (if they didn’t have one, request them to create one)

Several reasons to do this —

• To a certain extent, you are doing the work for the investors, making their jobs easier and allowing them to move faster.
• You are gaining a different view of your company, from the other side of the table — force yourself to be unbiased.
• It shows your shareholders’ conviction of the business and covers some potential blind spots which you didn’t cover in this or your marketing materials.

I really like how Chamath Palihapitiya does it — simple as it can get. If you want VC specific examples — check out some notes released by B Capital and Square Peg Capital.

Also Read: Singaporean rocket company Equatorial Space secures US$1.5M seed funding

Lawyers. Run…

Lawyers are often underrated actors in fundraising drama. However, having a good lawyer by your side is absolutely essential for so many reasons (some of which you might not want to learn about first-hand).

What you have got to remember is that investors belt out term sheets for a living, you don’t. They know all the ins and outs which you are expected to not know about.

A good lawyer will really focus you on what to negotiate hard on and what to let go of — this will save you a lot of pain while negotiating but much more in the future.

An inexperienced lawyer (from a fundraising standpoint) could not only be out-negotiated but might frustrate your future shareholder (or board member) by focusing on minor issues which don’t matter, not to mention drive up costs for both sides.

You need a lawyer who has done has done multiple fundraising transactions in your sector and someone you can completely trust (no, your litigator friend from poker night does not qualify for the former) — so if you don’t know a good lawyer, please get a warm introduction here.

Bonus if you can get someone who has experience working for both sides.

I am acutely aware that you need to be cost-effective and not squander away cash before you’ve even got it.

The good news is that there is a suitable fit lawyer for every budget and stage. From a Singapore standpoint, early-stage fundraises will cost you about S$5,000 – S$30,000 while the growth stage can cost you about S$30,000 – S$100,000.

Also Read: Meet the 4 tech startups participating in the WE Rise women-focussed accelerator programme

The big range is really a result of the complexity of the transaction, the time required to close and brand/size of the firm.

You will get charged by the hour (on “discounted” rates, of course) and typically have a fee cap. You must get a fee cap.

If you want to know more and can’t wait for the sequel — you don’t have to.

Refer to Part 2 (M to Z) here where I cover off topics such as marketing materials, outreach strategy, term sheet and valuation amongst other things.

—

This first appeared on LinkedIn

The article was first published on e27 on September 15, 2021.

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

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The post SEA tech founders playbook: A to Z of becoming a fundraising legend (Part 1) appeared first on e27.

As we celebrate World Password Day this month, it’s a great reminder that having strong passwords is not the only way to protect ourselves from cybercriminals. We also need to be careful about what we share on social media.

I mean, we all love social media, right? It’s a great way to connect with friends and family, share our experiences, and stay up-to-date with the latest trends. But here’s the thing, sometimes we don’t realise that we often overshare our personal information on social media, and that can be dangerous. When we post too much personal stuff, we’re basically giving cybercriminals a roadmap to hack into our accounts or steal our identity.

So, in this article, let’s talk about how oversharing on social media can put us at risk and how we can protect ourselves. We’ll explore how cybercriminals can use the information we share to their advantage and compromise our online security. We’ll also discuss some simple ways we can safeguard our online presence, such as using strong passwords and being mindful of what we share on social media.

Real-life cases of cyberattacks due to oversharing on social media

There are plenty of cases where people have been hacked, scammed, or blackmailed because they shared too much personal info online. And it’s not just celebrities – regular folks like you and me are at risk too.

From identity theft to financial scams and everything in between, these cyberattacks can be seriously bad news. So it’s important to be mindful of what you’re sharing on social media and take steps to protect yourself and your personal information.

Also Read: The future of cybersecurity: A plan to fill the workforce gap and protect the world

If you still don’t believe me, here are a few cases that happen because of social media oversharing:

• In 2020, a woman in Malaysia lost over $6,000 after falling for a scam on Facebook. The woman received a message from someone posing as a bank employee, who convinced her to share her bank account details and other personal information. The scammers then used the information to steal her money.
• In 2019, an Indonesian woman was scammed out of her life savings after she shared her personal information on social media. The woman was contacted by scammers who posed as bank employees and convinced her to give them her bank account details and personal information. The scammers then used the information to steal her money.
• In 2018, a man in Thailand lost over $300,000 after falling for a phone scam. The scammers convinced him to provide his bank account details and other personal information. The scammers then used the information to transfer money out of his account.
• In 2017, former FBI Director James Comey was the victim of a phishing attack. The attackers gained access to his personal Gmail account, which contained sensitive information about ongoing investigations.
• In 2014, Jennifer Lawrence’s iCloud account was hacked by a group of hackers who gained access to her private photos. The photos were then distributed online.

Those stories prove that you have to be super careful about what personal info you put out there on social media. It’s a prime target for cybercriminals, and they’re always looking for a way in. So, make sure you use strong passwords, turn on two-factor authentication, and be extra cautious about suspicious emails or messages. Protect yourself and your personal data!

How cybercriminals use information to carry out attacks

So, you might be thinking, “Why would anyone want to hack into my social media? I’m not famous or anything.” But hold up! Your personal data is actually super important, not just for yourself, but for your loved ones too. Cybercriminals can take that info and use it to pull all sorts of sneaky moves. Here are a few ways they can do it:

• Phishing: Scammers can use the info you post on social media to create fake messages that seem to come from trusted sources. They can use your personal details to make the message look like it’s from your bank, a social media platform, or another trusted entity. If you click on the link or enter your login details, they can steal your sensitive information or infect your device with malware.
• Social engineering: Cyber crooks can use the details you share on social media to build a profile of you and gain your trust. For example, they may pretend to be interested in your hobbies or chat with you about your interests. Once you trust them, they may ask for personal info or try to make you download malware.
• Physical attacks: Cyberattackers can use the location data they share on social media to track their movements and plan physical attacks such as robbery or kidnapping. They can also use your routine and habits to plan an attack.
• Identity theft: Scammers can use your personal details shared on social media to steal your identity and do fraudulent activities such as opening credit card accounts or applying for loans in your name.

And again, we need to always be careful about what we share on our social media. You can also read about Vanity Award Scams that came across your social media.

Also Read: How the need to survive pushed this founder into the depths of cybersecurity

Best practices to stay secure on social media

Alright, listen up! If you wanna keep your personal information safe on social media, there are some best practices you gotta follow. Don’t worry, it’s not rocket science or anything, but you gotta be careful. Here are some tips to help you out:

• Be careful what you post: Think twice before posting personal info on social media, and make sure it won’t cause any trouble. Don’t share sensitive info like your address, phone number, or bank details.
• Choose strong passwords: Use strong, unique passwords for your social media accounts, and if you’re struggling to remember them all, consider using a password manager.
• Double up on security: Turn on two-factor authentication on your social media accounts to make it harder for hackers to get in.
• Control who sees your stuff: Use privacy settings to choose who can see your posts and profile details. Don’t accept friend requests from random people you don’t know.
• Be wary of apps: Be careful about giving third-party apps access to your social media accounts. Only allow apps that you know and trust.
• Keep your stuff up to date: Update your devices and social media apps regularly to stay protected against known security risks.
• Watch out for scams: Be cautious of messages asking you to click on links or enter your login info. Always check if the message is legit before doing anything.
• Keep an eye on your accounts: Regularly check your social media accounts for anything unusual, such as logins from unknown devices or changes to your profile.

So, if you wanna avoid being a victim of cyberattacks on social media, follow these best practices and keep your personal info on lockdown! Trust me, it’s not worth the risk. Stay safe out there!

–

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

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Post-pandemic, the definition of co-working space has changed, and so have their objectives. An uncertain economic situation has further made the concept more acceptable. From startups to MNCs, companies are now increasingly relying on such facilities to reduce their capex.

INFINITY8 is a company with eight branches in Malaysia and one new branch due in June 2023, with a total size of 117,564 sq ft. The company has seen the demand for its co-working facilities going up post-pandemic.

e27 spoke to its Co-Founder and CEO Lee Sheah Liang to learn about how the industry has been growing post-pandemic and how the current economic situation is affecting its growth.

Here are the edited excerpts:

How has the demand for co-working spaces changed since the start of the pandemic? Have you seen an increase or decrease in occupancy levels?

I will divide the pandemic into three phases.

In phase I, when the government introduced the movement control order (MCO) between March and June 2020, the businesses started reconsidering their real estate portfolios. Our occupancy rates dropped to 60-70 per cent on average during this period.

In phase II (throughout the pandemic between July 2020 and September 2021), we received more corporate enquiries that wanted to set up alternative spaces for business continuity plans (BCP), hence the occupancy rates shot up to 80 per cent on average.

Also Read: The co-working industry needs to rethink its role: The Great Room CEO Jaelle Ang

In phase III (post-pandemic and recovery from September 2021 to present), six of our branches see a 100 per cent occupancy rate, one branch has 80 per cent occupancy and another new branch (3-month-old) is at 71 per cent.

What changes have you made to your co-working space design to adapt to the new normal?

The meaning of ‘workspace’ has been redefined as more co-workers need the space for physical and collaborative sessions and individual booths for video-conferencing purposes. The hybrid working mode has also been popular.

To adapt to the new situation

• We changed some of our interfaces to become contactless; we replaced entry access and exit buttons with facial recognition and motion sensors.
• Built more individual booths for video-conferencing and collaborative spaces;
• Changed our sales strategy.

How is the current economic climate affecting the industry?

The current economic downturn has resulted in more corporates cutting jobs, reconsidering and downsizing their real estate portfolios and strategising to employ an asset-light business model to keep their companies agile and afloat.

Companies are now putting more premium on flexibility, which has benefited the industry. Co-working spaces are also able to ride on sharing economy to deliver more cost-effective options when it comes to workspaces.

Have you noticed any specific trends in terms of the types of companies or individuals using your co-working space?

Co-working spaces, which once used to be identified as ‘startup-friendly and freelancers-friendly’, now have transformed into ‘business-friendly’. More corporates and businesses are open to the concept of co-working spaces now as the pandemic has fundamentally changed their mindset and mentality when it comes to their real estate portfolios.

With many companies now adopting a hybrid work strategy, how do you see this impacting the co-working industry in the future?

Hybrid working is here to stay but there is also an increasing number of companies switching back to 100 per cent working mode. This trend is impacting the co-working industry in a positive way, as many companies have cut down their office space and strategised their real estate portfolios.

Are there any new services or amenities that you plan to introduce to cater to the changing needs of co-working members in the post-pandemic era?

We are introducing more technology-focused, smart and dynamic operating systems into our co-working spaces and creating more services, such as virtual assistants and app-based interactive systems, to suit the needs of a post-pandemic world.

What types of companies or individuals are currently using your co-working space, and how have their needs and preferences changed over time?

The composition of our co-workers is as follows:

MNCs/listed companies: 35 per cent, SMEs: 50 per cent, micro-enterprises: 10 per cent, and freelancers/individuals: 5 per cent.

For the first category, we have seen increasing demands from them as they are generally receptive to the ideas of co-working space to turn their capex into opex and keep their companies lean flexibly. Their demands have also changed as hybrid work is prevalent in this category, so more often than not they will request more access than the number of work desks they will occupy.

For the second category, there are more SMEs looking for business opportunities within a co-working space post-pandemic. Companies are also looking at outsourcing opportunities (such as HR, payroll, recruitment and digital marketing), so we see a pent-up demand for SMEs to work more efficiently.

Also Read: Singapore gets an NFT-gated Web3 co-working space Metacamp

For categories 3 and 4, there are more remote talents now compared to pre-pandemic, and work-from-home is not for everyone. Hence, a co-working space is their best alternative to focus on work.

How do you balance the need for a collaborative and social atmosphere with the need for privacy and focus in your co-working space?

We have common areas built for collaborative purposes, leveraging some tools and writing boards etc. We also have areas built for privacy and focus, such as individual virtual conference rooms, phone booths, and charging stations.

What are some of the challenges and opportunities you see for the co-working industry in Malaysia in the coming years?

Challenges: As the global supply chain continues to be disrupted, the fit-out cost of a workspace has skyrocketed. This acts as a double-edged sword as our cost of doing business has hiked up but it also means resistance for normal companies to spend huge sums of money on fit-out, thereby benefiting our business.

Opportunities: We see co-working spaces and flexible workspaces to continue disrupting the traditional office market based on the following reasons:

• Demand for flexibility continues to be important for every company’s BCP
• Post-pandemic, competition and challenges between businesses become more drastic, resulting in companies putting more budget into talent recruitment and acquisition of new customers. Hence, spending on capex to build offices has ceased to become a priority and co-working space is built to be conducive to talent retention
• All companies have experienced MCO, forcing them to relook into their real estate portfolios, decentralising operations and therefore discouraging longer tenure of tenancy agreements with the landlords
• Post-pandemic, sharing common values and being connected to a greater community has become more important than ever as we go through this biggest shared struggle in centuries
• Generally, the office market in Malaysia has more supply than demand, hence co-working spaces play an important role to consume this over-supply scenario.

What are some of the unique benefits of co-working spaces that you believe will continue to attract individuals and companies in the future?

I believe that co-working spaces should focus more on technologically advanced products to cater to hybrid/remote working teams. Apart from that, we should also curate more collaborative/decision-making spaces as offices are now largely seen as team building, high-level decision-making spaces and a space to be connected with colleagues and co-workers.

The days when offices were only considered as desks and chairs and one single workspace have gone.

—

Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here.

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As the VC winter season casts its chilling effect on the startup ecosystem, it’s more important than ever for startups to stand out from the crowd and secure their place in the market. In the competitive world of Asian startups, there’s one secret weapon that can make all the difference: Public Relations (PR). The truth is, a solid PR strategy can propel a startup from obscurity to the limelight, ensuring survival in this harsh environment.

Don’t just take my word for it. Let’s dive into the reasons why startups at every stage need PR and how you can master the art of strategic communications to stay ahead of the game.

Pre-seed: Laying the PR foundation

In the pre-seed stage, you’re crafting your vision, refining your product, and maybe even seeking initial investments. But have you considered how to make an impact with your brand story?

PR at the pre-seed stage is all about laying the groundwork for your startup’s future reputation. It’s about creating a strong brand narrative that differentiates you from the competition and positions you as a thought leader. As the saying goes, “first impressions last,” and getting your story right from the start will make all the difference.

Seed: Fuelling your PR momentum

As your startup enters the seed stage, you’re looking to generate interest and buzz. It’s time to turn that brand story into a compelling narrative that journalists, investors, and early adopters can’t resist.

Now’s the time to build relationships with the media, engage with influencers, and fine-tune your messaging. Get your startup’s name out there by participating in events, speaking engagements, and contributing thought leadership content. Remember, a strong presence in the startup scene will not only build credibility but also create valuable connections.

Series A and beyond: PR power moves

So you’ve made it through the initial stages, and your startup is growing. Congrats! But don’t rest on your laurels just yet. As you scale, you need to keep PR at the forefront of your growth strategy.

Why? Because as you expand, you’ll encounter new challenges, competitors and even crises. PR is essential to maintaining your reputation, managing crises and staying in the public eye as you grow. It’s also crucial for attracting top talent and fostering a positive company culture.

Also Read: Dear tech startups, it’s never too early for PR!

PR tips and tricks for startups

Here are some pro tips to get your PR game on point:

• Know your audience: Understand who you’re trying to reach, and tailor your messaging accordingly.
• Be human: Authenticity and transparency resonate with the modern audience. Don’t be afraid to show the people behind the brand.
• Leverage data: Use data-driven insights to inform your PR strategies and measure the impact of your efforts.
• Stay relevant: Keep an eye on industry trends, and be ready to pivot your PR strategy when needed.
• Collaborate: Work closely with your PR team or agency, and ensure they’re aligned with your vision and objectives.

PR is non-negotiable

Startups are no strangers to the necessity of hustle, and PR is no exception. Regardless of your startup’s stage, a strategic approach to PR can make or break your success. So, get out there, embrace the power of PR, and watch your startup take the world by storm.

And remember, PR isn’t just a one-time thing; it’s an ongoing process that requires attention, investment and innovation. As the VC winter season threatens the startup landscape, the importance of a robust PR strategy cannot be overstated. Embrace it, and you’ll not only survive but thrive in this competitive environment.

Now that you’ve cracked the PR code, it’s time to leverage your newfound knowledge and turn your startup into an unstoppable force. As you forge ahead, remember that strategic communication is the key to unlocking your startup’s full potential. With effective PR, you’ll have the power to create a cult following for your brand, captivating investors, customers and industry influencers alike.

So, gear up for the journey ahead and keep your PR game strong. In a world where startups rise and fall with alarming speed, PR will be the secret weapon that separates the legends from the has-beens. Seize the opportunity, and claim your rightful place among the startup elite.

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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

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Use our special promo code: GO for 75% off your Echelon tickets!

The 2023 Echelon Asia Summit is happening at the Singapore EXPO on 14-15 June 2023. Are you a startup founder, investor, corporate, or tech enthusiast? Don’t miss out on one of the most anticipated tech conferences in the region! For more information, visit the official Echelon page.

In today’s dynamic business landscape where innovation and expansion are crucial for the long-term success of any company, growth equity has emerged as a key financing strategy for businesses aiming to scale rapidly. Growth equity is a form of private equity investment that focuses on providing capital to established companies with high-growth potential. Unlike traditional venture capital, which typically targets early-stage startups, growth equity is anchored towards companies that have already achieved a certain level of stability and revenue generation.

The importance of growth equity in businesses today cannot be overstated. It serves as a catalyst for accelerating growth, enabling companies to capitalise on market opportunities, expand their business either operationally or geographically, and help realise full business potential. By injecting capital into established businesses, growth equity investors offer more than just financial resources. They bring expertise, industry connections, and strategic guidance to help companies navigate complex challenges and maximise their growth trajectory.

The key differentiators of growth equity

One of the primary benefits of growth equity is its ability to fuel expansion without diluting the ownership stakes of existing shareholders. Unlike raising funds through an initial public offering (IPO) or venture capital, growth equity allows businesses to access substantial capital while maintaining control over their operations. This flexibility empowers companies to execute strategic initiatives such as product development, geographic expansion, mergers and acquisitions, or technology upgrades, without compromising their vision or long-term objectives.

Moreover, growth equity investors provide more than just monetary support. They often contribute deep industry knowledge, operational expertise, and a network of valuable connections. Their experience in scaling businesses can help companies refine their growth strategies, optimise operations, and enhance their competitive positioning. By leveraging the expertise of growth equity partners, businesses can avoid common pitfalls, identify untapped opportunities, and achieve sustainable growth.

Also read: The first 15 startups that made it to this year’s TOP100

Another critical aspect of growth equity is its positive impact on employment and economic development. By infusing capital into companies with growth potential, growth equity investors facilitate job creation, stimulate economic activity, and foster innovation. As businesses expand and thrive, they generate employment opportunities, contribute to local economies, and drive technological advancements. This virtuous cycle of growth fuels economic prosperity and creates a ripple effect that extends beyond the companies themselves, creating impact on a broader societal scale.

However, unlike early-stage investments, when the goal of companies is to enter series C, this also requires more complex strategies that they may not be familiar with. As such, we turn to experts to understand the ins and outs and learn the ropes of growth equity funding, particularly in the Southeast Asian startup ecosystem.

What does it take to build an ideal growth equity platform for Southeast Asia?

With the goal of answering the question, “What does it take to build an ideal growth equity platform for Southeast Asia?” e27 will be speaking to experts from 500 Global and 500 Southeast Asia at the 2023 Echelon Asia Summit to discuss key trends and insights as well as strategies to take on growth equity funding in the region. The goal of the session is to help startups from the region gain unparalleled knowledge on how to engage with growth equity funding, to provide an insider understanding of the state of the region’s startup ecosystem, and to offer a glimpse at growth equity opportunities available today.

Helping e27 discuss the matter is, 500 Global, a venture capital firm with $2.7B in assets under management. 500 Global invests in founders that are building fast-growing technology companies. They focus on markets where technology, innovation, and capital can unlock long-term value and drive economic growth.

500 Global has backed over 5,000 founders representing more than 2,800 companies operating in over 80 countries. They have invested in more than 50 companies valued at over $1 billion and over 150 companies valued at over $100 million (including private, public, and exited companies). Their over 190 team members are located in 28 countries and bring experience as entrepreneurs, investors, and operators from some of the world’s leading technology companies.

Their over 140 team members are located in more than 15 countries and bring experience as entrepreneurs, investors, and operators from some of the world’s leading technology companies.

Hear it straight from the experts

Saemin Ahn, Partner at 500 Global, will be serving as one of our esteemed speakers at this year’s Echelon. Saemin has taken on many hats across the broader venture capital ecosystem, serving as an investor and advisor for One Signal, GoTo Group, CodaPayments, and Honestbank, as well as a board member and partner for several other reputable companies including ViSenze, Carousell, and Rakuten Ventures, among many others.

With over twenty years of experience, Saemin brings an unmatched level of expertise when it comes to understanding the complex world of growth equity. With all the growth-stage investment opportunities in Southeast Asia, Saemin will be taking a close look at the region’s vibrant ecosystem and the opportunities available to today’s most exciting innovators. Not only that, he will be providing key strategies on how companies can move from early-stage to series C funding, given the complex differentiators that growth-stage startups must study and anticipate.

Also read: Harness the power of your location data to drive business growth

Speaking with him at the 2023 Echelon Asia Summit is Martin Cu, Partner at 500 Southeast Asia. Martin boasts an extensive background across the Southeast Asian business landscape, having previously worked as Country Head for the logistics platform, Ninja Van in the Philippines, as the Head of Acquisition Marketing for the on-demand streaming service, Hooq, as Marketing Director at the e-commerce platform, Zalora Philippines, and as Device Manager at the telecommunication giant, Globe Telecom.

With his operational knowledge having taken on executive roles at various companies across different verticals and his experience operating within Southeast Asia’s competitive business landscape, Martin will be imparting his unique understanding of the operational aspects of companies that could help them get a leg up as they pursue growth opportunities.

With their combined experience and industry knowledge, Saemin and Martin will be providing dynamic insights that can help the region’s most exciting startups explore opportunities for growth equity in today’s increasingly competitive fundraising landscape.

Moderating the session is Mohan Belani, Co-Founder and CEO of e27.

The 2023 Echelon Asia Summit

Get to know these experts and more at this year’s Echelon!

Echelon Asia Summit 2023 is happening on 14-15 June, at the Singapore EXPO. Featuring a slew of speakers, exhibitors, business matching sessions, pitching stages, and more, the event enables participants to connect, network, and engage with the larger tech startup ecosystem.

Also read: Echelon Asia Summit is back! Get to know our PR partner

At the Echelon Asia Summit, participants get the chance to attend a diverse range of sessions, including keynote speeches, panel discussions, and workshops, all exploring exciting topics like AI, blockchain, e-commerce, fintech, and marketing. You’ll also have the opportunity to join networking sessions and meet-ups where you can connect with fellow entrepreneurs, investors, and industry leaders.

To learn more about Echelon Asia Summit 2023 and sign up for the event, visit the official page here.

The post Echelon: Strategies for growth equity according to industry experts appeared first on e27.

Did you know there has been a 14x increase in AI startups since 2000?

Artificial intelligence used to be thought of as a futuristic technology reserved for sci-fi movies or the ultra-rich. Today, generative AI is approachable and can be used by anyone.

From students to artists, and even marketing and brand professionals have started utilising artificial intelligence in efforts to improve their content and take some of the stress off of constantly having to create.

Revolutionising content creation and business productivity

One popular program that has increased the accessibility of AI is ChatGPT. This is an artificial intelligence chatbot that is capable of interactive dialogue. Due to the many uses, one million people signed up to use ChatGPT in just the first five days after it was launched. This program uses 45 terabytes of information, an amount equivalent to one million feet of bookshelf space, and it is all found in this one small program. 

Similarly, Google launched the program Bard which is another conversational AI-powered program. 50 per cent of the training data used to program the system comes from public forums, making the dialogue it creates more conversational and less robotic. 

Aside from chatbots, generative AI can be used to create visual content as well. Dall-E is a popular program that is capable of creating stagnant images based on written prompts. More than 1.5 million users have used this tool worldwide to create pictures related to their names, feelings, and more.

Additionally, there are other tools that can be used to create videos from similar text-based prompts. These visual AI tools have three times higher quality and text representation than previous tools that were used for similar uses. To create these high-quality images, data is collected from various other avenues for the AI to ‘learn from’.

Also Read: How business leaders can utilise generative AI in employee communications

Speaking of data, this is how AI programs are “trained” to create the content they do. Generative AI is an algorithm that is fed existing content to create iterations with new content. The more data that is fed to the program, the “smarter” the program gets in creating similar content that is still fresh and unique.

These systems are able to pick up on patterns and create content that aligns with those patterns, which business owners have found to be very useful in marketing strategies. In fact, one of the main goals of marketing is to create a brand that people are always thinking about, and AI tools can be great companions in that task. 

Marketing professionals in major industries are finding ways to solve old problems using generative AI. From legal and professional services to retail goods, to the pharmacy and healthcare industry, generative AI has been used to enhance business productivity by up to 40 per cent. These systems can be used for email marketing, customer service routing, fraud detection, and service chatbots.

By using AI to complete these tasks, which can take up hours of a person’s day or even require full teams to tackle, marketing professionals are able to focus on other projects to improve their businesses. In fact, using personalised brand generative AI tools has been shown to boost marketing results anywhere from 60 per cent to 170 per cent.

While so many businesses are already jumping on the wave of artificial intelligence in marketing, there is still much on the horizon. Despite the rapid growth of AI, specialists explain that it is still in its infancy. It is predicted that as more businesses realise the benefits of generative AI, there will be a greater reliance on it.

It is even estimated that 22 per cent of marketers will use marketing automation and AI intelligence to personalise offers, emails, customer messages, and even paid ads. Small businesses will also have more accessibility to these systems, with 46 per cent reporting they will create new marketing roles in the future. 

It is time to broaden your business’s marketing horizons. With the ability to create written words, videos, music, and more, generative AI is the future for brands’ marketing capabilities. As more businesses look towards the many uses of artificial intelligence, there is no telling what the future of this technology will bring to the way we market and run our businesses. 

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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

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Eight e27 Connect investors participated in the investment rounds of just two startups — Jenfi and ORA — this week.

Below is a brief profile of each VC firm, with the details of their focus verticals, cheque sizes, and more.

TNB Aura

A Singapore-headquartered firm, TNB Aura uses data-driven methodologies to identify and invest in select companies that are primed for the future and ready to change the very face of their categories. An approved co-investment partner of Enterprise Singapore, it invests US$2-10 million in Series A and B startups.

It is sector-agnostic and invests in pre-Series A/bridge, Series A, and Series B startups across Singapore, Indonesia, Vietnam, the Philippines, Malaysia, and Thailand.

The average cheque size is US$1M to US$10M.

Antler

Antler empowers early-stage founders to find a co-founder or access capital to build and scale startups faster. It partners with people across six continents to launch and scale high-potential startups that address meaningful opportunities and challenges. It has offices in 25 cities, including Singapore, Indonesia, Vietnam, New York, London, and Berlin.

It invests in all verticals in pre-seed, seed, pre-Series A/bridge, and Series A companies. The cheque size is US$125K to US$5M.

Gobi Partners

Founded in 2002, Gobi is a VC firm with its headquarters and incubation centre in Shanghai, additional offices in Beijing, Hong Kong, and Tianjin, as well as an overseas office in Singapore. A leading investor in early-stage digital media and technology companies in China, Gobi has funded dozens of early to traction-stage companies and continues to invest actively in the region.

The focus verticals are advertising, Big Data, consumer, e-commerce, education, entertainment, finance, healthtech, ICT, media, SaaS, and travel.

It invests across seed, pre-Series A/bridge, Series A, Series B, Series C and above.

Kairous Capital

Kairous Capital is a Malaysia-based regional VC fund specialising in cross-border tech investment between Greater China and Southeast Asia. It focuses mainly on pre-Series A to Series B companies, helping them expand regionally.

The focus verticals are AI, consumer, e-commerce, education, finance, healthtech, insurtech, smart cities, and travel.
The investment locations are Malaysia, Singapore, Indonesia, the Philippines, Thailand, Vietnam, China, and Hong Kong.
The focus stages are seed, pre-Series A, Series A, and Series B. The cheque size is US$500K to US$5M.

A few days ago, TNB Aura, Antler, Gobi Partners, and Kairous Capital invested in Singapore-headquartered telehealth platform ORA’s US$10 million Series A funding round.

Monk’s Hill Ventures

Founded in 2014 by entrepreneurs Peng T. Ong and Kuo-Yi Lim, Singapore-based Monk’s Hill Ventures (MHV) invests in great entrepreneurs who will change millions of lives through technology. The firm invests in early-stage technology startups throughout Southeast Asia, mainly Series A. It takes a first-principles approach and is sector-agnostic, investing across industries and sectors, including healthcare tech, edutech, fintech, and logistics.

The focus stages are pre-Series A/bridge and Series A.

Korea Investment Partners

Korea Investment Partners, a Korea Investment Holdings company, is a private equity company specialising in small- and mid-cap businesses.

The focus verticals are hardware and SaaS, and the stages are Series C and above.

The investment range is US$8M to US$20M.

Golden Equator Capital

Golden Equator Ventures invests in high-growth technology startups in Southeast Asia. Based in Singapore, Golden Equator Ventures is a subsidiary of Golden Equator Group. It is sector-agnostic, with focus stages being Series A, Series B, Series C and above.

Atlas Ventures

Atlas Ventures is an early-stage VC fund investing in verticals such as cybersecurity, enterprise solution, entertainment, gaming, HR, marketplace, media, productivity & CRM, and SaaS. The investment locations are Singapore, Malaysia, Indonesia, Thailand, and the Philippines.
The focus stages are seed, pre-Series A/bridge, Series A, and Series B.

The investment range is US$500K to US$5M.

On Tuesday, Monk’s Hill Ventures, Korea Investment Partners, Golden Equator Capital, and Atlas Ventures joined the US$6.6 million pre-Series B funding round of Jenfi, a fintech startup specialising in revenue-based financing.

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Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here.

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The post The e27 Connect VCs that invested in Southeast Asian startups this week appeared first on e27.

The Singapore government recently announced several business support measures to help businesses defray the costs and risks of innovation as corporate purse strings tighten. The enhancements to the National Productivity Grant, newly minted Enterprise Innovation Scheme, and other initiatives announced during the Ministry of Trade and Industry’s Committee of Supply debate underscore the importance of businesses remaining competitive to stay resilient in an uncertain economic climate.

As Deputy Prime Minister Lawrence Wong mentioned, an “era of zero-sum thinking has begun”. In the race to become resilient, many businesses default to cost-cutting measures, tightening spending and reducing investments in innovation efforts to focus on short-term operational efficiency. However, marginalising innovation is likely to be detrimental to long-term business success.

Organisational resiliency need not come at the cost of innovation. By learning to evolve and adapt to new ways of working quickly, businesses can develop the necessary organisational muscles to withstand changes in the environment to survive and thrive, even in difficult times. 

Beyond resiliency to antifragility

“Antifragile” is defined as a category of things that not only gain from chaos but need it in order to survive and flourish. Made popular by a book of the same name by Nassim Nicholas Taleb, being antifragile is beyond resilience and robustness. A resilient business resists shocks and stays the same; an antifragile business improves, evolves and becomes stronger.

Also Read: Harness the power of your location data to drive business growth

In applying the “antifragile” concept to organisations, it is apparent that there are many areas that they can improve on, including the diversification of products, services, and channels, acceleration of digital transformation efforts that include the automation of processes and manual tasks, and establishing an innovative, agile data practice that harnesses data to inform quicker learning during innovation loops for better business decisions at all levels within the organisation.

An antifragile business is always learning from the environment it is in. The more data it can gather, the better its ability to harness them to make better decisions. To do so requires an effective data strategy that allows the organisation to derive key actionable insights from data in a timely, accurate, secure, and manner for data-driven decisions that can help drive operational efficiencies and improve business outcomes.

Treating data as a strategic business asset with its own comprehensive strategy aligned to business priorities can help businesses adapt and evolve regardless of the market condition to achieve true antifragility. 

In the digital era, data is ‘the new gold’

Enterprise data is growing at an explosive rate, driven by accelerated digital transformation and increased customer touchpoints. By 2025, IDC predicts that 80 per cent of data collected worldwide will be unstructured, presenting immense opportunities for organisations to store, analyse, collect and gain insights and potentially monetise the data. 

According to Cloudera’s Enterprise Data Maturity report, 91 per cent of IT decision-makers believe that their organisation’s data strategy was key to increasing resilience. A well-considered data strategy identifies the main challenges or opportunities that the organisation is trying to solve, while including a set of guiding principles or policies for dealing with them and a coherent set of actions. It is also aligned with the organisation’s cloud and digital strategies and outlines the modern data architectures needed to leverage data across the organisation’s hybrid multi-cloud environments.

To effectively execute the data strategy requires tools equipped with modern technologies that can manage disparate data sets in a consistent, secure, and governed manner across the entire data lifecycle, no matter where the data resides. Being able to do this while providing shared security and governance features across different cloud environments is critical.

A robust hybrid data platform guided by a deliberate data strategy is essential in building trust that the data is fit for purpose to provide business leaders with the confidence in using the data to guide business decisions. 

Data powering growth opportunities

Together, a data strategy backed by a hybrid data platform leveraging modern architectures can help organisations uncover new growth opportunities, by applying technologies like automation, artificial intelligence and machine learning for increased time to insights. 

For example, one of the largest financial services groups in Southeast Asia saw the opportunity to leverage data and machine learning to deliver innovative banking services that catered to consumers’ preferences for digital-first banks.

Also Read: Revolutionising fintech in Southeast Asia: AI and ML empower businesses with data

They built a centralised platform that uses machine learning to analyse real-time contextual data from customer conversations to identify the most relevant information for each customer and curate personalised experiences across communication channels.

The bank also used machine learning to predict several bank systems’ potential time to failure, ensuring that information technology teams could take preemptive decisions to keep data centres always up and running. The machine learning models have helped the bank to reduce the risk of losing sensitive customer data, such as financial details, and avoid costly regulatory fines from downtime. More importantly, it created a faster and more efficient transaction experience for its customers.

The whole is greater than the sum of its parts

Getting value from data can be both complex and complicated. Data often needs to be brought together from multiple sources, secured, curated and processed. This needs to be done at scale, across rich datasets and increasingly in real-time. Having a clear, unified and reliable view of all data assets is foundational to having informed decisions with high degrees of confidence.

Furthermore, being able to implement modern data architectures such as Data Fabric, Data Mesh and Data Lakehouse across public clouds and on-premises provides the greatest flexibility to organisations. These qualities are core principles of the Cloudera Data Platform (CDP).

The challenges and obstacles from evolving external factors present opportunities for businesses to harness one of their most valuable and underutilised assets, data, to make informed decisions and flourish in any market condition.

A strong data strategy and the ability to innovate effectively and respond quickly are foundational to the antifragile organisation. I believe that technology and agile innovative data practices will play an important role in supporting this in 2023 and beyond.

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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: Canva Pro

The post Building antifragile organisations: Harnessing data strategy and for resilience appeared first on e27.

Use our special promo code: GO for 75% off your Echelon tickets!

Featuring the TOP100 stage, the 2023 Echelon Asia Summit is happening at the Singapore EXPO on 14-15 June 2023. Are you a startup founder, investor, corporate, or tech enthusiast? Don’t miss out on one of the most anticipated tech conferences in the region! For more information, visit the official Echelon page.

The TOP100 program is an annual project spearheaded by e27 with the goal of recognising the most promising and innovative startups in the Southeast Asian region and beyond. The program is a highly anticipated event that provides a platform for exciting new startups to showcase their ideas, gain exposure to investors and potential partners, and receive valuable feedback from industry experts.

Through the TOP100 program, startups have the opportunity to pitch their ideas to a panel of judges comprised of investors, corporates, and industry giants. The judges evaluate each startup based on various criteria, including innovation, market potential, team strength, and overall execution.

Also read: Echelon: Strategies for growth equity according to industry experts

Winning the TOP100 program can have a significant impact on a startup’s growth trajectory. The program has helped many startups secure funding, gain media attention, and expand their customer base in the regional market.

With its rigorous selection process, 100 startups get to pitch their products and services at the TOP100 stage of the Echelon Asia Summit slated on June 14-15 at the Singapore EXPO. Top contenders will proceed to the TOP100 finals where winners will be selected.

Without further ado, here is the second batch of startups that will be competing at this year’s TOP100!

15 more semifinalists for the 2023 TOP100 

Hello3Dworld

Hello3Dworld is a Metaverse platform where users can create their own 3D Avatar from a single photo in just a couple of seconds.

Through Hello3Dworld, users can easily create their own Metaverse with only a few keywords and, through that Metaverse, participate in activities that replicate real-world experiences, such as shopping, entertainment, working, studying, and travelling, among others.

Staying true to their slogan, “Real World on the Internet”, inside Hello3Dworld’s Metaverse platform, users will have their own houses and assets; Brands will have their own offices, showrooms, real estate projects, malls, schools; and Governments can bring landscapes, tourist sites, museums — all within the Metaverse.

Castomize Technologies Pte. Ltd.

Castomize is revolutionising medical devices with 4D-printing technology, starting with orthopaedic casts and splints. Castomize’s 4D-printed casts provide a myriad of benefits to both doctors and patients. For doctors, they reduce the amount of manpower, time, and tools needed to apply and remove casts. For patients, they provide unprecedented comfort and ease of care throughout the healing journey.

As a pre-revenue spin-off from the Singapore University of Technology and Design that was established in late-2022, Castomize has progressed quickly in terms of traction, being in several feedback loops with orthopaedic experts from 5 different hospitals in Singapore and Korea. They have also gained market traction and interest, having signed several Sales and R&D LOIs and MOUs with organisations in the Asia-Pacific, including an upcoming clinical trial at a national hospital in Singapore. Additionally, they have been awarded several non-dilutive grants and awards from organisations such as the National Research Foundation of Singapore and have been onboarded on several incubators and accelerators such as Shinhan Square Bridge, SMU BIG, Temasek Launchpad, and SUTD.

FLEXWAVE CO., LTD.

FLEXWAVE builds an embedded PV energy harvester for IIoTs with 75% more power, which can reduce the size of the device and make the “wireless” come true.

Flexwave offers an innovative optical method to overcome the limits, naming the fibre-like technology as Flexible Waveguiding Photovoltaics. According to the nature of the waveguide material, PV panels can collect photon energy from a wider angle. Flexwave aims to solve the energy crisis of IoT endnotes. There will be trillions of IoT devices in the next decade, resulting in batteries that require huge maintenance costs. Flexwave provides an embedded energy harvester which gives 75% more power than the traditions.

Paladium Technologies

Paladium Technologies acquires and analyses first-party purchase data to help B2C merchants increase revenue with strong market intelligence. They are an up-and-coming data company that is focused on the collection and processing of consumer data, with analytics as an added layer to provide greater value to Consumer-Facing Businesses.

They offer actual monetisation of the consumer’s data to the consumer — a unique proposition unheard of in Developed Countries (DCs) within Asia Pacific, where consumers are starting to be aware of how the Big Tech Companies are exploiting their data without consent. Through this, they also enable consumers to monetise their personal data.

The venture is also privately invested.

eMobily

eMobily provides a mode of electric transportation to underserved communities and cities. Specifically, they exist to serve the e-bike and e-scooter community by providing sustainable transportation in the EV industry. Under its belt, eMobily develops technology based around micro-electric vehicle infrastructure, such as charging and security port stations for micro-mobility to organised fleets, including developing a localised machine learning/AI geolocation sensor that can help riders and robots pinpoint the exact location needed during trips in large areas that are not accurately listed on their maps.

eMobily is an all-in-one stop solution for the EV Market. It has a consortium group of specialities to solve manufacturing, distribution, and global expansion for accelerated electrification.

GeeTest

GeeTest, the leading bot management vendor and the creator of the SlideCAPTCHA, is the most intelligent and robust solution that frees your website, mobile apps, and APIs from malicious traffic.

For 10 years, GeeTest has been focusing on the field of cybersecurity, polishing innovative products and ideas to strongly promote the development of this industry. GeeTest believes that the imminent challenges perturbing the Cybersecurity landscape are the challenges between improving the quality of traffic (managing the proportion of fraud traffic) to enable companies to efficiently monetise traffic and combating the hidden and profit-driven bot threat.

The H2 World Inc.

The H2 World Inc. produces longer-duration energy storage and monetisation solutions for renewable energy. Their turnkey H2 solutions provide cleaner, more flexible lower cost energy independence and security.

With more renewable energy and electrification, electrical grids are more strained and less reliable. Fuels in widespread use such as natural gas emit far too much CO2e. As such, The H2 World Inc. provides affordable turnkey hydrogen generation through electrolysis and methane transformation, storage, and energy systems, pods for homes/small businesses, and containerised packs for larger customers. Their systems provide the lowest cost hydrogen, with near Co2e. 

ERP360 (PT ERP SAAS INDONESIA)

ERP360 delivers Integrated Real Estate ERP Cloud in Indonesia, specialised for real estate developers and enhanced with Automation & Business Intelligence, all at an affordable price.

In 3-5 years, the company is poised to have BIG DATA Real Estate Analytics created by Artificial Intelligence (based on real data transactions), that provides insight to real estate mapping price, customer behaviour, buying capability, supply and demand in each area, and many other data or statistics all over Indonesia. If they can make this happen, the Big Data will create many other business opportunities such as feasibility study, consultancy, and even real-time available unit property portal, while also collaborating with other giant proptech like PropertyGuru, among others.

NextPay

NextPay empowers MSMEs to automate collecting, sending, and managing of money — all from one powerful platform. NextPay provides easy-to-use financial services without high fees and barriers to entry.

Since 2020, over 3,000 Filipino entrepreneurs have trusted NextPay to help them simplify their financial operations. It is their mission to build the right financial tools and technology so local businesses can thrive and scale. NextPay’s simple and affordable set of business banking services where business owners can easily sign up to start include Collecting Money: sending digital invoices, accepting payments via links and QR codes, automated reminders; Sending Money: salary payouts, supplier payments, etc; and Managing Money: real-time reporting, possible integration with HRIS and accounting systems.

Lokéin

Lokéin is a full-suite social commerce platform to easily help digitise and digitalise business owners, brand owners, and MSMEs including second-hand goods merchants while at the same time, managing their business easily, anytime, and anywhere. With their solution, those MSMEs can simply digitalise and digitise their businesses with a no-code omni-channel social selling software that enables MSMEs to sell seamlessly and manage their businesses efficiently.

The software includes an e-commerce storefront, full-suite seller dashboard, custom landing page builder, built-in marketing tools with AI assistant, Bahasa Melayu Chatbot AI assistant, affiliate system, and e-POS manager. The solution is a lightweight, fast, responsive e-commerce software that comes with a pre-fixed template where users can set up their store in just seven minutes.

PETSKITA

PETSKITA is a one-stop solution multi-brand e-commerce platform for all pet care needs with personalised “pet profile” features, transforming the way pet parents shop.

Some of the major problems being faced by the pet industry in Indonesia and Southeast Asia are the hassle that pet parents face, having to navigate through many different platforms. It’s also hard to access trusted and quality products and services, which makes the overall buying experience for pet products inconvenient. Currently, Indonesian pet parents are still getting their products from conventional pet stores or general marketplaces. There is still no trusted online platform specifically for pet parents, like Chewy (www.chewy.com) in the US or a large pet store chain in Indonesia.

PETSKITA is solving those problems by building the first integrated pet ecosystem in Indonesia. Making PETSKITA a household name by being a pet care brand that people love and that resonates with Millennials and Gen Z. PETSKITA aims to be the “Chewy” of Indonesia and Southeast Asia.

ALGOGENE FINANCIAL TECHNOLOGY COMPANY LIMITED

ALGOGENE is the next-generation investment platform for learning, developing, testing, executing, and investing trading bots. They provide tick-level multi-asset, multi-event data for model development, backtesting, live simulation, portfolio analytics, and risk monitoring. Through ALGOGENE’s global exchange network, users can easily manage and deploy their trading strategies to multiple broker accounts. They also incubate outstanding trading algorithms by providing seed funding for pilot tests and building track record on the path to launch a hedge fund or fintech product with users.

Through their patents-backed web platform, users can easily create any algo strategies, and connect to multiple brokers/exchanges for live trading. They can also learn from ALGOGENE’s trading community and copy their winning strategies into their portfolio!

DIFISOFT Viet Nam JSC

Difisoft Viet Nam JSC (Digital Finance Software) is a fintech company founded in 2018 that is developing financial solutions and content for major financial institutions in Vietnam, such as VCSC, KIS Vietnam, KB Securities Vietnam, Mirae Asset Securities Vietnam, and KB Fina.

Based on the technology and experience in the financial IT sector, Difisoft is currently developing a community-based investing platform to serve more retail investors in Vietnam, Paave (coined from the words “Passion” and “Wave”. As a social investing platform with the mission of serving more retail investors in Vietnam and Southeast Asia, they pave the way to make financial freedom possible for everyone especially the Millenials.

kamilas4am Inc

Helping business owners scale their short-video content, Kamilas4am is connecting business owners and marketers who need short-video content with UGC creators — the next evolution of Influencer Marketing.

Unlike influencers who are leveraging their following, UGC creators are leveraging their capacity to create studio-quality and ready-to-post video content from home. Business owners use these short videos in their everyday posting on social media (eg Tiktok, IG reels, Youtube shorts) and in their social media ads.

Instead of spending hours, kamilas4am has shortened the process of engaging with UGC creators to 10 minutes. No more hours of finding the right creator, negotiating contracts, and endless back-and-forth to explain the project brief. With a click of a button, brands can book a creator to work within their platform of 1,000 creators.

SECHA

Aiming to ease secondary home purchases, SECHA provides home improvement solutions to help buyers get qualified and move-in-ready houses at no extra cost for renovation.

SECHA exists to help homeowners sell houses at market price without renovation cost cuts, agents to generate leads and close deals faster, and home buyers get their dream homes hassle-free. Their platform equips agents with the tools that have been proven to increase buyers’ intention to purchase by 35% through their platform consisting of a Shareable Digital Catalogue, Auto-Generated Digital Proposal, and House Unit 3D Viewing.

To be battled out at the 2023 Echelon Asia Summit’s TOP100 stage

Watch out for these exciting startups as they battle it out on the TOP100 pitching stage at the 2023 Echelon Asia Summit happening on June 14-15 at Singapore EXPO.

Also read: See how GHARAGE is empowering travel and retail at Echelon

The Echelon Asia Summit is a leading technology conference that brings together experts from around the world to discuss the latest trends and innovations in the industry, share expert knowledge, and provide opportunities to network with peers. The event is a must-attend for anyone in the tech industry looking to stay ahead of the curve.

Catch these startups and more at this year’s TOP100 stage! To learn more about Echelon Asia Summit 2023 and to sign up for the event, visit the official page here.

The post 15 exciting startups make it to the 2023 TOP100 appeared first on e27.

Grab losses shrink 43% in Q1, revenue surges 130%
Net losses narrowed to US$250M from US$435M reported in Q1 2022; Deliveries were the star of the show for the company, contributing US$275M in revenue.

East Ventures closes US$250M fund for portfolio firms
The Indonesia-focused VC firm will continue to invest in early-stage and growth-stage companies through its seed and growth funds, which have been extended to have a corpus of US$585M.

MetLife, Khazanah join insurtech startup bolttech’s US$196M Series B round
The funds will be used to explore inorganic opportunities; bolttech works with insurers, telcos, retailers, banks, e-commerce and digital destinations to embed insurance into the customer journeys at the point of need.

Vietnam’s VNG eyes US$100M funding round
The company. whose businesses include online games, payment, cloud services, and Zalo, is working with Maybank on the fundraising; GIC, Temasek, and B Capital are its existing investors.

Ex-Spenmo CPO denies firm’s embezzlement rumours
Spenmo Indonesia is suspected of embezzling US$895K intended for the acquisition of two financial service providers, namely multi-finance company Beta Inti and remittance firm Aryadana.

Malaysia’s Signature Market delays domestic IPO after profit decline
The e-commerce firm wants to make healthier food products more accessible and affordable in Malaysia and the rest of SEA; Its profit has been dropping in the past two years due to consumers shifting back to offline shopping.

Venturra aiming for 8 to 12 deals in 2023
The firm has completed 29 investments since 2019, with the majority of them in seed-stage companies; Venturra prepares to launch a new fund – its third one – in the coming months.

Ex-Zalora CMO’s telehealth platform ORA secures US$10M Series A
The investors include TNB Aura, Antler, and Gobi Partners; ORA is a house of healthcare brands; Its brands include Modules (prescription skincare), OVA (women’s health) and andSons (men’s health).

Jenfi nets US$6.6M to expand its revenue-based financing business in SEA
The investors include Headline Asia, Monk’s Hill, and ICU Ventures; The fintech firm plans to expand its presence in Singapore, Vietnam and Indonesia while expanding into new markets across Southeast Asia.

Northstar, Golden Gate join US$4.3M round of SG AI firm Locofy
Locofy helps designers automate front-end code directly from their designs and integrate them with existing workflows, leveraging AI to convert designs into coding languages to save time.

Gojek, Dat Bike partner to roll out two-wheeler EVs in Vietnam
Dat Bike will provide Gojek driver-partners with Weaver++ motorbikes to use for GoRide, GoFood, and GoSend orders; Drivers can charge their Dat Bike battery for free at community charging points in Ho Chi Minh City.

Taiwanese enterprise firm Profet AI eyes SEA expansion
Profet AI uses machine learning to boost operational efficiency by allowing clients to create customized apps and AI-powered programmes; It mainly offers its services to electronics, semiconductor, and chemical manufacturers.

UK fintech firm 3S Money to apply for Singapore payment license
This is as part of efforts to expand its offerings in Asia; The firm helps its clients scale globally by offering business accounts with local details in markets like the EU, the UK, and the US.

‘Co-working spaces should introduce new tech tools to cater to hybrid, remote workers’
Co-working spaces, which used to be identified as ‘startup-friendly’, now have transformed into ‘business-friendly’, says Infinity8 Co-Founder and CEO Lee Sheah Liang.

Why Doctor Anywhere believes that the future of healthtech lies in preventive healthcare
In this interview, Doctor Anywhere Founder & CEO Lim Wai Mun reveals plans to acquire more companies in the healthcare sector.

‘Global firms are paying closer attention to SEA’s tech talent pool’: Glints CEO
Oswald Yeo says there is an industry shift towards the ‘make profits, sustain, and grow’ model and the concept of blitz scaling is mostly foregone.

How climate tech companies in Asia measure the impact of their work
To answer this big question, we reached out to climate tech companies in the Asia Pacific and get them to explain the details.

Echelon: Strategies for growth equity according to industry experts
Let these experts from 500 Global weigh in on what strategies companies in Southeast Asia must explore to pursue growth-stage funding.

Unleashing women’s potential: How tech companies are leading the way
Developing a healthy workplace culture that supports women is not only the right thing to do, but it is also a strategic imperative for Malaysia.

Cracking the PR code: A PR blueprint for startups
Unlock the world of PR for startups and take advantage of the techniques that can propel your startup to the top.

How are Singapore SMEs taking a proactive stance towards sustainability?
SMEs in Singapore have the ability to be proactive and be well-prepared for the inevitable inclusion of Scope 3 emissions as a business cost factor.

Singapore’s security industry: Why condos ‘peace of mind’ should be resolved with technology?
Singapore’s security industry is transforming to meet global demands through new technological advancements.

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Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here.

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