(An earlier version of this article wrongly mentioned the fund raised as US$3M. It has now been corrected.)

TablePointer, an energy-efficiency-as-a-service (EEaaS) startup in Singapore, has received over US$2.3 million in an oversubscribed seed funding round led by Wavemaker Partners, AgFunder, and ENGIE.

The funding will be used to add new features and product modules and enter fast-growing markets in Southeast Asia.

TablePointer helps businesses become more energy efficient through its EEaaS model. It provides IoT and AI solutions for energy efficiency at no upfront costs and manages their implementation, monitoring, and maintenance. Its plug-and-play energy efficiency technology primarily targets the food and beverage industry.

Also Read: This eco-friendly and energy-efficient air-conditioner cools you, not your room

By helping its customers reduce their energy consumption, TablePointer is helping to reduce greenhouse gas emissions and combat climate change.

Steve Melhuish, Chairman of TablePointer and Founding Partner, Wavemaker Impact, said: “The F&B industry has been slow to adopt sustainability solutions due to perceived lack of rapid ROI. TablePointer addresses this problem by offering a plug-and-play solution that provides immediate tangible savings and significant reduction in greenhouse emissions without any upfront costs. This has led to fast adoption by both small independent outlets and some of the largest most recognisable F&B chain brands.”

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like connecting with investors, visibility through the platform, and other prizes. Join TOP100 here.

The post TablePointer raises US$2.3M to enter new markets with its IoT, AI-based energy efficiency solutions appeared first on e27.

You don’t need millions in VC funding to build a sustainable company. In fact, companies like eBay, HP and Dell were originally bootstrapped. 

At CodeInterview, we built a profitable seven-figure ARR business with minimal outside capital (cash still unused) and an average engineering team size of one. 

Along the way, we learned valuable lessons about building a lean company that I’ll share with you today. These are difficult times, especially for tech, so I hope these lessons will help you de-risk your business and come out of this crisis stronger than before. 

Here are seven lessons from building a seven-figure SaaS business with just one engineer.

Before starting

Before starting CodeInterview, I was running a dev agency working with clients like Microsoft, Nokia and ESPN.

My focus was on hiring engineers and building teams so I needed a way to quickly and accurately evaluate developer skills. This was back in 2014 so I couldn’t find any out-of-the-box solutions to this problem, especially when hiring remotely. 

So we built a simple tool for coding assessments to use in-house. This evolved into CodeInterview, a full-featured platform with programming tests, interviews and take-home projects. 

When we started selling it to other companies, it was much easier to develop new features and find the right people to talk to. This was because we understood the problem and actively used it in our own recruiting. 

Also Read: What founders need to watch out for before joining a startup accelerator

So rather than building in the dark, the lesson here is to scratch your own itch. This makes it easier to hit product-market fit without wasting time and resources on building the wrong things. 

Early feedback stage

To get early feedback, I offered CodeInterview to existing clients and some of my friends who were in senior engineering positions. It turned out that some of the must-have features we came up with had to be killed. 

Ever since then, one of our key priorities has always been ease of use and this led to a great benefit when building a lean company — very few customer support requirements. We have been able to effectively serve 60,000+ users so far with just one customer success specialist. 

So the lesson here is don’t be afraid to kill features — you will end up with a more intuitive product that doesn’t expand your overhead with each new customer. 

Investors or mentors? 

As mentioned in the intro, we did raise seed funding when starting CodeInterview. This was mostly to get access to people like Tim Draper, Ravi Belani and Steven Tamm (ex-Salesforce CTO) who became our investors. 

The first introduced us to some of our key customers. The latter taught us about selling to engineering teams at large organisations like Google and Adobe.

Another one of our investors, The Alchemist Accelerator, gave us a structured B2B sales curriculum and paired us with Kevin Ramani, ex-Head of Sales at Close.io, as our sales coach. 

So early on, try to pair up with the right advisors and investors in order to gain access to more than just money — the skills and intros we got proved invaluable for us even to this day. 

Finding the right marketing channel

I have seen startups spending thousands of dollars per month in PR early on. It’s a mistake. You need to focus on finding early adopters who are looking for your product, ideally in a well-defined niche. 

As Paul Graham says: “Build something 100 people love, not something 1 million people kind of like”. 

Now, let’s look into our own experience in more detail. 

One of our biggest advantages has been simply having a relevant brand and domain name. As of writing this article, the term “code interview” has 1,600+ monthly searches and we always rank in the top 3 results, largely because of our domain name. 

Also Read: Navigating a recession: How founders can protect revenue as funding dries up

Of course, some of this search volume consists of people looking for our brand name but the majority are likely interested in the topic — either as a candidate or an employer. 

Our domain name is also giving us an advantage in many related terms like “code interview tool” or “online coding interview tool” which are super relevant keywords for us. 

So, if possible, try to purchase a descriptive domain name and aim for search traffic with high-value and low competition. You may find SEO works a lot faster and cheaper than expected, especially when compared to channels like PR. 

Subscriptions are the holy grail

Although we started getting a consistent stream of users, monetisation was still difficult. 

What really moved the needle was the introduction of a pay-as-you-go model. We found out that many of our users are senior engineers just exploring different solutions. Committing to a monthly or annual subscription usually involved getting their finance and procurement teams on board which was a big barrier. 

The pay-as-you-go model (paying US$5 per interview) allowed customers to expand usage, often using their personal credit card, before getting management buy-in. This means they had a chance to integrate the product into their hiring flow before committing to a subscription. 

When the main users turn into power users, it gets much easier to get buy-in from other stakeholders.

The key lesson is that while subscriptions remain a good way to boost the value of your business and make it more predictable, you should explore other pricing models that may be a better fit for your company.

On hiring people

As we grew, the temptation to hire additional full-time employees was high. There are endless projects you want to start or recurring tasks to complete which, at a surface level, seem like great reasons to expand your team. 

And this is exactly what many tech companies did – leading to mass layoffs in 2022 due to overhiring throughout the pandemic. In order to keep overhead low and increase your chances of surviving an economic downturn, you should carefully plan the roles you truly need. 

Here’s a bit more from our experience: 

Instead of expanding our in-house team of 4, we relied on short-term contractors and external advisors to help guide our internal team. We hired generalist employees and specialised contractors to mentor us or execute directly. 

For example, we have some very senior engineers from companies like Microsoft and Meta on our advisory board helping our product team with issues like scaling and software architecture. We also have external consultants to help us with growth and SEO. I’ve personally had a sales coach and stay connected with peers and mentors to help with strategy. 

Here’s the rationale: a young cash-deprived startup can not afford to hire expensive experts for everything. Instead, hire high-energy generalists who are hungry for learning and have an “I can do anything” attitude. But make sure you connect them with the right experienced coaches.

This approach has helped us remain profitable and in a stable position even now – as other companies are scrambling to raise cash and keep up with high labour costs.

Our key lesson is this: hire generalist employees and specialist consultants to guide them in order to stay lean and profitable. 

The right mindset

I started my career very early, running my dad’s small retail shop in Karachi, Pakistan. This was a transformative experience as you have to focus on profitability and cash flow every single day. 

Also Read: Insights from a Singaporean founder’s journey to Silicon Valley

I found this very helpful when building a lean SaaS company. If you don’t want to rely on investors’ money every six months (and want to make fundraising easier), you need to obsess over profitability. 

This is not just related to costs. You should also focus on sales from day 1. Not only do you get to monetisation faster, but you will also naturally prioritise features users are willing to pay for and avoid wasting time on activities that don’t generate revenue. 

So obsess over cash flow and profitability – this is a key reason why many successful companies (bootstrapped or funded) were able to build for the long term and overcome adverse economic climates. 

Conclusion

It still feels like we have a lot to do (and learn) at CodeInterview. 

However, we have come a long way since starting in 2015. Looking back, we can see the decisions that helped us the most. In many cases, these lessons confirm common startup knowledge. But so often common knowledge is not common practice. 

I hope this article will serve as a gentle reminder to stay lean even when you have the opportunity to expand — both product and team-wise. 

And if you’re still early on in your journey, you may find things to repeat and mistakes to avoid, especially when starting a B2B SaaS company with little or no external investment. 

Lastly, if there’s one thing to remember here, it’s this: avoid the temptation to overspend when things are going well in your company. External events that will slow you down are practically inevitable so you have to be prepared to face these adversities.

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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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As a startup founder, achieving growth is critical to building a successful business. But equally important is achieving sustainability — building a business that can continue to grow and thrive over the long term. Balancing these two goals is a significant challenge that requires careful consideration and planning.

Prioritise customer acquisition and retention

By focusing on building a strong community of loyal customers who value your product or service, you can achieve sustainable growth over the long term. Companies like Airbnb have prioritised customer experience to achieve sustainable growth, building a strong community of hosts and guests who trust and value their service.

To achieve this, prioritise customer feedback and use it to improve your product or service. Engage with customers to understand their needs and pain points and use that information to improve customer satisfaction and loyalty.

Prioritise ethical business practices

Companies like Patagonia have prioritised ethical practices throughout their supply chain, from sourcing materials to manufacturing to customer service. This commitment to sustainability and ethical practices has helped the company build a strong reputation and attract loyal customers.

Develop a set of values that guide your business practices, and ensure that all employees and stakeholders are aligned with those values. Communicate those values to customers and stakeholders, and ensure that all business practices align with them.

Funding

Consider sustainable funding sources that align with your long-term goals. Companies like Warby Parker have used sustainable funding sources to achieve growth while maintaining business control. They raised funding from investors who shared their values and vision for the business and have been able to maintain their focus on sustainability and customer experience as they have grown.

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

Look for investors who share your values and vision for the business and prioritise long-term partnerships over short-term gains. Consider alternative funding sources such as crowdfunding, venture debt, or revenue-based financing that align with your long-term goals.

Product development

Companies like Slack have focused on solving a real problem for their customers — communication, and collaboration in the workplace. By providing a product that addresses a real need, the company has achieved rapid growth while focusing on sustainability and customer satisfaction.

Focus on identifying real problems your customers face, and develop products or services that address those problems meaningfully. Use customer feedback and data to drive product development decisions and ensure that all product features and enhancements align with your long-term goals.

Maintaining a balance between short-term and long-term goals

Companies like Shopify have balanced short-term growth goals with a long-term focus on sustainability and customer satisfaction. They have achieved rapid growth through strategic partnerships and acquisitions while focusing on building a sustainable business model that provides value to their customers.

Prioritise short-term goals that align with your long-term vision, and ensure that all decisions are made with a focus on short-term and long-term goals. Avoid making decisions that prioritise short-term gains over long-term sustainability, and be willing to make short-term sacrifices to achieve long-term success.

Balancing growth and sustainability is a critical challenge that all startup founders face. By prioritising customer acquisition and retention, ethical business practices, sustainable funding sources, product development that solves real problems, and maintaining a balance between short-term and long-term goals, founders can build sustainable businesses that achieve both rapid growth and long-term success.

By doing so, they can grow their companies in Southeast Asia while contributing to a more sustainable future.

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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 How to balance rapid growth and sustainability as a startup founder appeared first on e27.

Singapore has overcome vast odds to ignite an entrepreneurial ecosystem and high-tech industries from the ground up in just a few decades.

The Little Red Dot’s skilled workforce, the capacity for long-term planning, dynamic government support, and international business environment have been critical drivers to shaping both its modern economy and a regional fundamental science powerhouse: NUS and NTU both maintain a tight grip on the top spots in academic global rankings.

But like so many competing nations, Singapore faces difficulties in reaching a critical size in frontier tech and supports its handful of early-stage gems to cross the maturation stage and the valley of death.

Characterised by a small home market, an early maturity with regards to deep science-driven venturing, and a geographic and cultural distance from top frontier tech-hubs such as San Francisco, Boston, or Tel Aviv, Singapore makes great efforts to attract the talent, technologies, and capital necessary to complete this emerging ecosystem.

A limited range of financial and venture-building instruments needed to attract a diverse investor base, experienced entrepreneurs, and top operating partners adds to the picture.

Global research institutions spend billions every year exploring, developing, and testing new technologies with the hope of bringing them to market. However, while basic science provides numerous avenues for promising ideas and expertise in fields like sustainability or healthcare, a range of structural, intellectual, and financial barriers make their maturation complex and broadly painful for founders.

Those include a scarcity of funding and talent compared with consumer tech, misaligned incentives, and risk appetites among researchers and investors alike. Consequently, many ventures flounder once they reach the maturation phase before market players — investors and corporations — are willing to engage.

Let’s face it. Frontier tech discoveries typically face 100:1 odds of making it through the first commercialisation steps. Expensive product maturation efforts, investor pressure, and protracted time frames have made traditional investors risk-averse.

This leaves vast funding gaps at an early stage that create both innovation and economic challenges. The problem is acute all over South-East Asia but resonates singularly in Singapore, where the ambitions are big, science is world-class, and frontier tech R&D is deliberately being nurtured so that its outcomes can be pillars of the future national economy.

To counteract this structural complexity and move to the next level, the frontier tech sector in Singapore needs to produce more promising research ventures that are geared towards commercialisation and international growth.

Also Read: Unleashing Singapore’s smart city potential: A gateway to limitless opportunities

In particular, recognising that the country will always remain a small and remote global platform with regard to the significant markets new frontier tech startups will likely target, a combination of targeted efforts could leverage the nation’s strengths and address some of its shortcomings.

Boosting the attractiveness for researchers and builders alike

There is no question that frontier tech maturation and productisation should be driven by specialists, with the aid of seasoned entrepreneurs and operating partners. But the innovation-to-productisation cycle only partly overlaps the process of venture creation.

While having a team of scientists leading the go-to-market is somehow prevalent in Singapore, academics often lack the experience and incentives required to competitively translate their work into commercial products.

Yes, they can learn. But the learning curve is generally steep, and it often has an irremediable impact on the productivity — and, down the road, the market timing and competitiveness — of the spinoff.

Organising execution ‘relay races’ and dynamically building the right team at the right time are paramount. Not all academics are made to be science entrepreneurs, but most can make substantial contributions to emerging startups. There is always a catch for the academics ready to cross the entrepreneurship Rubicon.

Let aside the fact that publishing academic research is still considered the ‘bread and butter’ of academic life —technology maturation is a demanding activity and hardly compatible — basic science in Singapore just provides more stability and funding visibility.

Even if the country had more frontier tech startups today, the reality is that the public sector would always be a black hole for talented research professionals, be they Singaporean or foreigners. To counterbalance this effect, official joint positions between universities and startups or venture builders can be tested.

In addition, introducing innovative incentive mechanisms that factor spinoff experiences in—e.g., new KPIs for academics seeking tenure — can entice more candidates to contribute to the ecosystem.

Second, the country faces difficulties attracting experienced frontier tech entrepreneurs, venture builders, and operating partners. Unfortunately, even highly generous expatriate packages to motivate the move may not convince this crowd. They are primarily incentivised to live and work in cities like San Francisco, Boston, or Tel Aviv, associated with massive work and learning opportunities, which in turn contribute to their personal branding, experience, and network building.

By contrast, Singapore’s small domestic market structurally offers fewer opportunities to build a world-class network. To counteract this, new immigration schemes targeting seasoned frontier tech entrepreneurs and operating partners would be a great addendum to Singapore’s gamut of immigration tools.

For example, applicants demonstrating a solid track record could be granted a 3-year work visa— yes, you need visibility to build frontier tech— associated with an ‘entrepreneurial grant’, i.e., the possibility to be financially supported to incubate Singapore-based projects in their field.

This status could even open the door to bringing additional talents to work on science-driven products (i.e., opportunistic pooling) and an expressway to raise early-stage capital. The program can be designed to incentivise this frontier tech AAA crowd to ignite and expand startups from Singapore and incorporate the associated expertise into the local entrepreneurial ecosystem.

Unlocking the private funding market

The post How to shape Singapore’s attractiveness in deep and frontier tech appeared first on e27.

While they hail from diverse backgrounds, countries and continents, they all share the same dream and vision: to build better rockets to benefit the whole civilisation.

They are now about to materialise their dream.

“We are at the onset of the new space race: one driven by the commercial enterprise as much as nation-states. We want to play a part here rather than spectate when others achieve great things in space,” Simon Gwozdz, Founder of Equatorial Space Systems, tells e27.

Equatorial Space, headquartered in Singapore, is a rocket propulsion and space launch startup. Its mission is to enable space access at greatly reduced risk, cost and environmental impact compared to incumbent solutions.

The venture was founded in 2017 by Gwozdz, Jamie Anderson, and Praveen G. A National University of Singapore (NUS) graduate, Gwozdz previously worked as a Motor Transport Operator at the Singapore Armed Forces. Anderson was Head of Rocket Propulsion at Gilmour Space Technologies in Queensland. At the same time, Praveen G worked at the Centre for Advanced 2D Materials at NUS, involving the application of graphene in composite materials.

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

Equatorial Space is currently working on its Dorado commercial-sounding rocket family to provide low-cost space access for science experiments, technology demonstrators and academic payloads.

A sounding rocket doesn’t achieve the velocity required to enter orbit and provides just a few minutes of exposure to the space environment and microgravity. Sounding rockets are typically used in the launch of science experiments that range from atmospheric and magnetospheric sample collection to deep space radiation monitoring.

According to Gwozdz, Dorado uses entirely new propulsion technologies to deliver superior performance, safety, and eco-friendliness. “Dorado is a responsive launcher designed to deliver small payloads into suborbital trajectory by mid-2024. It is designed to be 100 per cent explosives-free, and ships fully inert for easy deployment to any range in the world.”

Dorado is a hybrid rocket, which burns liquid oxidiser and solid fuel to produce thrust. Separating these two ingredients into separate states of matter eliminates the risk of accidental mixing and activation, making them safer than any other type of rocket.

Hybrids are very cost-effective because, unlike purely liquid-propelled rockets, only one liquid has to be delivered to the combustion chamber where the solid-state fuel already awaits. This reduces cost by two-thirds compared to similar-sized rockets.

“Historically, hybrid rockets have been limited by the performance and properties of the solid fuels available,” he says. This is the very problem Dorado solves using its proprietary formulation. This enables hybrid rockets to achieve performance similar to that of other rockets at a fraction of the cost and complexity.

“Dorado is the first such technology to find its way into commercial use, becoming the highest performing, most affordable and lowest risk vehicle of its type in the world,” he further shares.

Dorado comes in two versions: a single-stage and a two-stage configuration which will be flown in 2025.

The startup is also working on Volans, a family of modular, low-cost space launch vehicles designed for capacities of up to 500 kg to Low Earth Orbit. Volans will deliver payload directly to a clients’ chosen inclination at their own convenience and at a low cost.

Accessing test locations a daunting challenge

Being a part of a new ecosystem always comes with exciting opportunities. However, the challenges can be daunting.

“Developing a new propellant combination requires years of trial and error to bring it to operational readiness,” he states. “Our biggest challenge has always been accessing test locations. Our test locations are all overseas for practical reasons.”

The travel restrictions imposed during the COVID-19 crisis in Asia also took a heavy toll on Equatorial Space. “Asia Pacific saw some of the longest and toughest travel restrictions on earth. While our competitors in the US and Europe continued to advance, we narrowly averted closing down as we were running out of funding,” he shares.

“With the great help of our friends up north, we still managed to complete a proof-of-concept launch of our technology in Malaysia in December 2020. It was the first launch of a commercial prototype rocket in the region,” he adds. “I continued travelling to pursue funding and traction, and spent nearly two cumulative months in isolation over that time.”

How does Equatorial Space ensure the safety and reliability of its rocket launches, particularly for academic payloads and scientific experiments? “There’s no other way to eliminate any gremlins in the design, individual components and subsystems and the integrated vehicle than detecting them through a series of stringent tests, including the final and most exhilarating part — the qualification launch,” Gwozdz says.

While Dorado is critical for Equatorial Space, it has bigger goals in mind: to pave the way for orbital launch services for satellites, a booming industry set to triple in the next decade.

“Dorado will also serve an important function testing new components and technologies before their deployment in orbit onboard satellites and deliver an invaluable learning experience to the next generation of space systems engineers who use suborbital flights for training,” he explains.

Also Read: From aerospace engineer to building Google’s first int’l presence to cross-border investing

Late last month, Equatorial Space bagged US$1.5M in seed funding led by Elev8.VC, with participation from SEEDS Capital and Masik Enterprises. This funding will help the company to win partners.

“We have been approached by several companies, from Australia, Southeast Asia to Europe, for potential partnerships for our Dorado rockets. With the latest round of funding, we will be able to offer a reliable delivery timeframe to all potential buyers,” Gwozdz says.

For Gwozdz and the team, their ‘space’ journey has just begun. They are on a big mission: “We want to change the face of not just space launches but also create a foundation for a fairer and more equitable space economy for all humanity in the next decade,” he signs off.

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like connecting with investors, visibility through the e27platform, and other prizes. Join TOP100 here.

The post Equatorial Space is on a mission to make space launches cost-effective and eco-friendly appeared first on e27.

Direct-to-consumer (DTC) businesses sell directly to customers online, bypassing the “middlemen” of wholesalers and retailers. This allows them to control the user experience, collect first-party shopper data and increase margins. With customers and manufacturers now keen on interacting, we are seeing massive growth in D2C channels.

In part, the growth in D2C is interlinked with the growth in e-commerce experienced during the pandemic. Recent data suggest retail e-commerce grew by more than 26 per cent in 2020 and more than 16 per cent in 2021.

However, 2022 unravelled a new story and raises questions on the sustainability of these businesses going forward. 

Brutally battered on the wall street

Tech stocks were down 35-40 per cent in 2022, and DTC stocks were down 85-90 per cent. As a rule of thumb, valuations mechanically go down when interest rates rise.

Tech stocks are down because tech is a bet on future profit and cash flow growth that is largely impacted by the rise in interest rate, inflation and macro environment that thwarts its future cash flows. Utility stocks, for example, are only down 13 per cent from peak because they are mostly predictably generating profit today.

DTC companies are battered more than tech because they do not make money at present. Figs and HelloFresh are the only companies to have been (barely) profitable in 2022. Most companies’ net income margins were -10 per cent to -90 per cent.

Here’s a rundown of the performance of some representative brands:

• All Birds: Net Income(NI) (2022):  -US$101Mn, Stock Price Down(⇣): ⇣ 96 per cent
• Blue Apron: NI (2022): -US$110mm, Stock Price: ⇣ 99 per cent
• Smile Direct:  NI (2022):  -US$86mm, Stock Price: ⇣ 98 per cent
• Warby Parker: NI (2022): -US$110mm, Stock Price: ⇣ 82 per cent
• Bark:  NI (2022):  NI (2022): -US$68mm, Stock Price: ⇣ 93 per cent
• Honest: NI (2022): -US$49mm, Stock Price: ⇣ 92 per cent
• FIGS: NI (2022): US$21mm, Stock Price: ⇣ 85 per cent
• Stitchfix: NI (2022):  -US$207mm, Stock Price: ⇣ 95 per cent
• Rent The Runway: NI (2022): -US$212mm, Stock Price:⇣ 95 per cent
•  HelloFresh: NI (2022): US$127mm, Stock Price: ⇣78 per cent
• Wayfair: NI (2022):  -US$1.3B, Stock Price: ⇣ 89 per cent

Also Read: Deciphering consumer sentiment: Understanding APAC consumers’ outlook for the year ahead

This also highlights the core issue that lay during the initial funding rounds of these companies. All of the above companies were venture-backed and rewarded for growth at all costs. With the rising interest rates when the markets flipped to rewarding profitability, these brands were caught flat-footed.

Selling a brand or a channel story

DTC companies are not businesses, they are a brand or a channel. They enjoyed a unique positioning as a brand, doing what brands always do, making consumers feel good. When companies can tell a real and affecting story about meaning and personal values, consumers are moved and that’s what they’re looking for now. It makes consumers buy, come back again, pay full price and tell their friends.

However, in recent times, creating a brand today is so much harder than ever before. The world now is noisier and more crowded with competitors. 

Secondly, DTC companies are a channel business, and as channels go, it’s a good channel, sometimes a great one, but the idea of DTC as a strategy was always a distraction. Companies that were successful in selling directly to consumers online are now pivoting to open stores and with good reason: that’s where the customers are.

Need to reinvent the narrative

When a DTC company is founded as a venture-backed business, profitability is rarely in the company’s DNA. Brands can’t pivot to profitability quickly or, in many cases, at all, because they never really had product market fit. This was hidden for years by a gusher of venture capital subsidies. The murky business positioning, and sacrificing profits for growth have led to an identity and growth crisis for these businesses. 

In essence, it was never about the brand or the channel, that was just a moment in time. It was always about the message, the product, the belonging and the values. And that’s where brands, DTC and otherwise, are going.

It will be interesting to see how these DTC businesses pull themselves out of the murky waters of a brand or a channel story to a crystal clear business story with a strong product market fit positioned for healthier profits.

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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 Are the glory days of direct to consumer brands over? appeared first on e27.

Registration for TOP100 is now open and we are looking forward to seeing your startup on the list!

TOP100 Program gives you the one golden chance to connect with hundreds of investors, showcase your startup at Echelon, pitch on the TOP100 stage, and access special programs. Find out what’s new in TOP100 and join here: https://bit.ly/TOP100_2023

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Now that Echelon Asia Summit is coming back in full swing, e27 is determined to make one of its key features, the TOP100, one of the best yet!

The TOP100 program is an annual initiative organised by e27 to showcase and recognise the most promising startups in the Asia-Pacific region.

The program is open to exciting new startups from the Asia-Pacific region with innovative ideas that break barriers across different industries. The selection of the TOP100 involves a rigorous screening process, including an evaluation of the startup’s product or service, team, market potential, and traction.

Also read: Check out 10 more startups that are saving lives

The selected startups are given the opportunity to pitch their business ideas at the Echelon Asia Summit this June 14-15, 2023, at the Singapore Expo. The program also provides exposure to investors, mentors, and potential partners, enabling growth among participating startups and helping them expand their networks across the larger global tech ecosystem.

The TOP100 program has become one of the most prestigious startup competitions in the region, attracting thousands of applicants each year and providing valuable visibility and support to the most promising startups in the region.

15 startups closer to competing at this year’s TOP100

Being a frontrunner refers to startups close to making it to this year’s TOP100 program.

With all the amazing startups sprouting across the Asia-Pacific region’s vibrant tech startup ecosystem, we now present you with 15 frontrunners closer to competing at this year’s TOP100. Get to know them here!

Fraxtor

Fraxtor is a real estate tokenisation platform that provides bite-sized access to global real estate investment opportunities.

The Fraxtor digital platform bridges investors and real estate investment opportunities originated by private equity managers and small to mid-sized property developers. They promote financial inclusion by enabling investors’ easy access to investments with a digital platform and by lowering capital outlay.

Private equity funds and developers can similarly leverage Fraxtor’s digital platform as an alternative avenue to raise funds from a pool of accredited investors in an efficient manner. To date, Fraxtor has tokenised real estate assets worth more than US$250 million in Singapore, Australia, and the UK.

treasure

treatsure is a Singapore-based startup tackling the problem of food wastage through its innovative technological solutions. Its flagship product is a mobile platform connecting businesses such as hotels and grocers with surplus food to consumers to tackle food wastage. With treatsure, users can purchase a takeaway buffet-in-a-box from $10 or surplus groceries up to 80% off.

In 2018, it created Asia-Pacific’s first takeaway buffet-in-a-box concept in collaboration with global hotel brands. In 2019 and 2020, treatsure also ventured into surplus and sustainable groceries respectively. In 2021, it started an offline concept store. The company also offers educational experiences and collaborates with corporate and governmental partners to drive sustainability lifestyle awareness and adoption.

ALGOGENE FINANCIAL TECHNOLOGY COMPANY LIMITED

ALGOGENE is the next-generation investment platform that enables users to engage in algorithmic trading through a seamless process of learning, developing, testing, executing, and investing in automated trading bots. The platform is supported by patents, ensuring top-level security for users.

Through ALGOGENE’s patents-backed web platform, you can easily create any algo-strategies, and connect to multiple brokers/exchanges for live trading. ALGOGENE boasts a thriving trading community that users can leverage to expand their trading knowledge. Users can follow and learn from successful traders and even copy their winning strategies into their own portfolios. ALGOGENE thus provides a comprehensive and dynamic platform for users to develop their algorithmic trading skills and grow their investment portfolios.

NodeFlair – Tech Career SuperApp

NodeFlair is a Tech Career SuperApp. Specifically designed for Tech talents, it is one place for job discovery, job researching, job securing, career uplifting, and more. They provide a Career Transparency platform with verified career data such as salaries, culture, benefits, and more. Our mission is to help Tech Talents make better career decisions. For Companies: we help hire top-tier Tech Talents across APAC.

NodeFlair aims to create a world where developers can code where they love. They strive to provide valuable resources that help technology talents in Asia make smarter career decisions. By doing so, they hope to create a more informed and empowered workforce that can thrive in their chosen fields.

Furthermore, NodeFlair is not only beneficial for tech talents but also for companies seeking top-tier technology talents across the Asia-Pacific region. The platform helps connect companies with qualified candidates, making the hiring process more efficient and effective.

ACKTEC Technologies

ACKTEC’s vision is to provide an environment for all learners to nurture the spirit of learning and the spirit of excellence. The company’s mission is to develop in all its students the passion to learn and the confidence to become self-directed.

With the vision of automating knowledge through technology, ACKTEC aims to create a vibrant and innovative community that provides professional development for all educators, trainers, and teachers to ensure high-quality learning for all levels. The company has developed KiQs, an educational platform for early childhood.

The KIQS Learning App is now available on the Google Play Store.

DIFISOFT Viet Nam JSC

Difisoft Viet Nam JSC (Digital Finance Software) is a rapidly growing fintech company that was established in 2018. Their core focus is on creating cutting-edge financial solutions and content for major financial institutions in Vietnam. They have been successful in partnering with some of the leading financial institutions in the country, including VCSC, KIS Vietnam, KB Securities Vietnam, Mirae Asset Securities Vietnam, and KB Fina.

Difisoft’s expertise in the financial IT sector, coupled with its technological advancements, has enabled them to create innovative solutions that meet the unique needs of these institutions. As a result, they have established a reputation as a reliable and forward-thinking fintech company in the Vietnamese market. They are currently working on the development of a community-based investing platform that will enable more retail investors to access financial products and services.

Jagofon Pte Ltd

New smartphones are way too expensive in Indonesia — up to 6 times the local monthly salary and second-hand smartphones are not to be trusted: at least 20% are illegally imported, stolen, or counterfeited, more than 30% suffer from quality issues, and there is no warranty or guarantees.

Jagofon is Indonesia’s most trusted marketplace specialising in second-hand smartphones with stringent quality control. All of Jagofon’s smartphones are extensively tested, 100% functional, and guaranteed.

LEAN Social

As Asian students, we’ve long tolerated the traditional education experience. Rote learning, Disorientation, Societal Pressure, we have been through it all. Introducing: LEAN Social: a virtual study and workspace that helps GenZ feel less lonely and more motivated to be productive.

LEAN Social offers a study-streaming ecosystem with a practical incentive system that aims to promote self-directed learning. Utilising machine learning, the platform tracks and converts students’ learning time into tokens, which can be exchanged for gift vouchers (short-term incentives) or educational experiences like placement in Bootcamps or MOOCs (long-term incentives).

DashoContent

400 million small and medium businesses suffer from current options for content creation because they are expensive in time, resources, and energy. On the other hand, purely automated AI content is rarely on par with that of a human and ends up penalised by search engines.

DashoContent is an on-demand platform that helps you create consistent and quality content for businesses. Through a mediation platform with powerful AI-assistive tools, they combine the benefits of automation and handcrafted content through vetted expert content creators.

BGN

BGN is creating the next wave of community-owned Global Brands through DAOs. The company is helping blue-chip brands get up to speed with franchise readiness by improving access to the community, capital, and valuable supporting protocols that power franchises from operations, to talent management, to financing needs.

BGN operates on three philosophies. Shared Vision: Bonding brand owners, operators, staff and customers through a common vision. Equitable Governance: Making joint decisions on operational directives and optimising localisation efforts. Fair franchise pricing: Brand growth is market-driven, keeping expansion in tandem with market demand.

Qalboo

In Southeast Asia, conversations around mental health still carry a negative stigma. This is especially apparent in religious communities, as there’s a common belief that poor mental health equates to weak faith. For Muslims, the intersection goes much deeper. There are Islamic laws that aren’t aligned with modern techniques, making it harder for Muslims to seek help, let alone speak openly about it.

Qalboo is changing this narrative. The Islamic well-being app is faith-based — providing Muslims with evidence-based solutions that are integrated with Islamic values from the Quran and Sunnah, making the link between faith and well-being into actionable and easy-to-follow solutions.

EkkBaz

EkkBaz is an innovative and dynamic B2B marketplace that connects small businesses in the agriculture and food industries across developing countries in Asia, available in Bangladesh, Singapore, and expanding. The platform leverages cutting-edge technologies and data-driven financing solutions to help small businesses grow and thrive in an increasingly competitive global marketplace.

With a commitment to sustainability and environmental responsibility, EkkBaz is creating a supportive and collaborative ecosystem that empowers small businesses to reach their full potential. By facilitating connections between suppliers, buyers, and other service providers, EkkBaz streamlines the supply chain and makes it more efficient.

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.

Kamilas4am’s mission is to make social media marketing so easy and accessible that even a grandma can build a successful online business today.

BioMark

Biomark is owned by Texas Pacific Group (TPG), one of the largest global private equity firms, with business presence/entities/subsidiaries in Singapore, Malaysia, Indonesia, the Philippines, Brunei, Australia, Vietnam, and Hong Kong. Their combined businesses result in seeing an annual flow of 10-11 million patients per year.

Regionally, BioMark is used across over 6,500 clinics and 63 hospitals, storing more than 24 million patient records. Their core business model is centred around being the conduit between laboratories, doctors, and patients. Broadly speaking, BioMark ingests blood and pathology reports and displays them to doctors and patients through their platforms. Clinics and healthcare providers (HCPs i.e. doctors and nurses) using their platform can effectively monitor their patients’ well-being, flag patients who need follow-up consultations (and follow-up tests), and order pathology tests and also medications. Patients using their platform are able to better make sense of their lab results, and monitor the progress of their health.

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 and agents to generate leads. Their platform helps close deals faster, enabling home buyers to get their dream homes hassle-free.

SECHA’s 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.

A step closer to the 2023 TOP100

After a rigorous screening process, these startups are a step closer to qualifying for this year’s TOP100.

If you are one of the founders of the startups above, a representative from e27 will be reaching out to you soon to discuss with you the next step in your application process. Feel free to get in touch with us for any inquiries.

Also read: Why you should go to WeWork and MeetUp with us at Ho CHi Minh

If you have an exciting startup with innovative ideas that can eclipse the best and the brightest in the region, join the 2023 TOP100 and stand a chance to pitch your ideas to some of the top investors in the Asia-Pacific at this year’s Echelon Asia Summit. Register for TOP100 here.

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Maybe in the future, customers in the travel industry will require a reliable resource to consult before deciding on a decision, as opposed to “drowning” in the sea of information as they do now when using Google.

Artificial Intelligence (AI) has had a major impact on the tourism industry. However, this tool still needs more improvement to be able to plan a complete trip.

According to The New York Times, many people expect AI to help them create travel plans through suggestions or requests made.

Mr Oded Battat, General Manager at Traveland, asked ChatGPT to create trips for tourists visiting Tuscany. As a result, he received a list of 14 activities, including tours of the winery and museum.

“I know all these places,” Mr Battat said. In addition, this director also affirmed that ChatGPT supports him quite well in sending emails to customers.

AI assistants meet 70-80 per cent of business owners’ expectations

The travel industry is constantly changing, especially with the advent of AI. Currently, travellers can “chat” with chatbot tools and share information about destinations, interests, and departure times. The system will send back a personalised travel itinerary with vivid descriptions.

Tourist offices can ask ChatGPT to write marketing content, send emails to customers, and create social media posts. Many airlines, hotels and car rental companies have applied this tool to chatbots on their websites.

Chad Burt, co-president of OutsideAgents, said some are worried that travel advisors will have to shut down as systems like ChatGPT improve.

However, Mr Chad Burt said that “every new technology is a tool that needs to be applied”. Recently, he also held a seminar to share how to take advantage of technology features in the work process.

Also Read: ChatGPT becomes the helper or killer to all occupations in Vietnam

Mr Burt used ChatGPT to create 100 travel itineraries. The results met 70-80 per cent of his expectations. However, companies need to re-examine and continue to improve further to come up with better end results.

Expedia, one of the world’s largest online travel agencies, is already using AI. The company has many years of experience in personalising itineraries and communicating with customers through virtual advisors, said Peter Kern, CEO of Expedia. However, ChatGPT is still an “important new step”.

Backlog restrictions to the travel industry

However, AI chatbot tools also have limitations. With ChatGPT, the information base of this technology is limited to 2021. Therefore, this tool will be unable to update data that changes over time such as airline schedules and weather condition details.

Besides, this software is also unstable in determining the reliability of the source. As a result, some AI chatbot responses may result in misleading content.

OpenAI, the company that developed ChatGPT, also warns that its software can sometimes produce “false content”.

Mr Jeff Low, CEO of Stash Hotels Rewards, worries about the impact of AI on the accommodation industry. Hotels are likely to cut jobs more with the help of artificial intelligence.

In addition, according to Mr Low, unethical companies can use software like ChatGPT to devalue customer reviews on travel websites. This comes from the fact that AI tools can automatically write out positive or negative review posts.

ChatGPT does not satisfy travellers

ChatGPT is useful for the tourism industry, but it falls short of travellers’ expectations.

Marissa’s family (six members), after using the schedule provided by ChatGPT to travel to Thailand, evaluated the destinations suggested by ChatGPT simply for them to visit the city, not to go into the experience, culture, the goals they set in the first place. Therefore, ChatGPT is not connected with people.

Also Read: Planning a trip: Is the future of sustainable travel in the metaverse?

Meanwhile, the hotel staff is different. Marissa appreciated this person’s enthusiasm and understanding. “He has kids so he understands that sightseeing isn’t always fun for the kids. He knows they won’t sit idly by and that guests can be exhausted from the heat.”

“He knew where we should go to eat, what attractions to visit, and which hawkers we should visit for a taste of Malaysia. He showed us the best banana leaf restaurant in the world in Kuala Lumpur and advised us to avoid rush hour traffic jams.”

Marissa sees ChatGPT as not a “magnanimous generous” tool. ChatGPT’s AI can quickly suggest travel itineraries, but it’s a bland experience and lacks depth. “Unless you’re the type of person who likes to ‘check-in’ all the places, we need personalised experiences to bring people closer together.”

In Vietnam, many people have tried using ChatGPT to suggest travel schedules and received unexpected results. A guest from Hanoi said that he tried to use ChatGPT to create a schedule for Dalat for three days and two nights and the result was not reasonable.

Chat GPT only searches for famous places in Da Lat and put them together, not caring about the distance between those places or sharing the same route for convenient transportation. ChatGPT’s AI also does not update emerging places, even suggesting tourists go to the waterfall at five pm.

ChatGPT’s AI is not fully “mature” at the moment

GPT is still a new application anyway, and travel information is endless with changes happening almost daily. So if you use it instead to find out, and give some suggestions for reference, you should not put too much hope on the results or need to check with Google again with the suggested results.

Wait until the AI has full knowledge and experience (loaded with more data), and more intelligence (edited code, algorithms), then surely the returned results will be better than now.

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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

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A partnership is a critical aspect of any successful endeavour, and the upcoming Echelon Asia Summit 2023 is no exception. With the Asia Pacific tech conference happening in Singapore EXPO on June 14-15, 2023, sponsors are playing a crucial role in ensuring its success.

Also read: 15 frontrunners closer to competing in the 2023 TOP100

Echelon Asia Summit 2023 is one of the premier events for technology professionals, bringing together experts from around the world to share knowledge and discuss the latest trends and innovations in the Southeast Asian tech startup ecosystem. This year’s conference will feature keynote speeches, panel discussions, and workshops on a wide range of topics, including artificial intelligence, blockchain, digital healthcare, and other emerging digital trends.

How these partners are helping us give you the best Echelon experience ever

Sponsors play a critical role in ensuring the success of the Echelon Asia Summit 2023 in several ways. Firstly, they provide various forms of support and coverage for the various activities and features that make the summit such an exciting and meaningful experience for attendees.

Moreover, sponsors bring their expertise and experience to the table, providing attendees with unique insights into the world of tech. By leveraging their networks and marketing channels, sponsors also help bridge audiences to the broader ecosystem, enabling access to valuable insights for different demographics.

Also read: Six exhibitors to wow you at the 2023 Echelon Asia Summit

One of the key roles of sponsors is also their presence at the actual Echelon Asia Summit. This provides attendees with the opportunity to network with them and get to know their products and services, which is an essential aspect of Echelon’s purpose as an ecosystem enabler that connects all stakeholders together. By supporting the Echelon Asia Summit 2023, sponsors can help founders connect with other professionals, investors, and startups in the tech industry, forging new partnerships and collaborations that can drive business growth and success.

As such, e27 is proud to announce CleverTap as one of its sponsors for the 2023 edition of the Echelon Asia Summit!

Meet CleverTap at Echelon Asia Summit 2023!

CleverTap helps app-first brands personalise and optimise all consumer touch points to improve user engagement, retention, and lifetime value. It is the only solution built to address the needs of retention and growth teams, with audience analytics, deep segmentation, multi-channel engagement, product recommendations, and automation in one unified product.

The CleverTap platform lets you do app analytics at incredible speeds, provides ready answers, and engages with your users via push notifications, in-app messages, emails or web notifications. It helps you figure out what users are doing in your app and website and helps you engage with them.

CleverTap’s technology is built for today and it scales as you grow — whether you have millions of app users, or are a small startup.

Today, thousands of marketers, agencies, and developers worldwide use CleverTap to get deep user insights to personalise app experiences and improve user loyalty. The CleverTap team is spread across Sunnyvale, Los Angeles and New York in the US, and Mumbai in India.

Also read: Corporate-startup collaborations signal a boost in the startup ecosystem

“We’re keen to meet tech founders and growth leaders at Echelon from the Southeast Asia region, exploring new collaboration opportunities to help brands build meaningful relationships and drive relevant engagements with their users,” shared CleverTap, emphasising their commitment to emboldening the ecosystem. “We are looking to grow the tech ecosystem in partnership with e27 with our Echelon participation,” they added.

Join Echelon Asia Summit 2023

Get to know CleverTap 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.

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

The post CleverTap: Industry leader in customer retention will be at Echelon! appeared first on e27.

Southeast Asia witnessed a number of major developments in the past week, including a couple of M&As and many funding deals.

Below is a snapshot of all the major happenings in the region’s startup ecosystem.

The Edgeof acquires SoftBank unit

The Edgeof, a newly formed ecosystem builder and VC firm, has agreed to acquire SoftBank Ventures Asia Corp., a wholly-owned subsidiary of SoftBank Group. The strategic initiative aims to enhance support, development, and expansion of startups poised to transform the world, spanning from Singapore to the greater pan-Asian market.

The transaction details remain undisclosed.

NusaTrip acquires VLeisure

NusaTrip, a Jakarta-based online travel agency and a unit of Nasdaq-listed Society Pass Inc. (SoPa), acquired the Vietnamese online B2B hotel platform VLeisure. With this, NusaTrip gains an operational foothold to expand its B2C and B2B businesses in Vietnam. At the same time, VLeisure will leverage SoPa’s capital and NusaTrip’s technology to market its hotel management SaaS products to small-to-medium-sized hotels initially in Vietnam and then to the rest of Southeast Asia.

Zi.Care attracts US$2M funding

Singapore-based early-stage VC firm Oriza Greenwillow Technology Fund committed to investing US$2 million in Indonesian startup Zi.Care, which digitises medical records for hospitals. The Jakarta-headquartered electronic medical records (EMR) startup is eyeing a total of US$3 million in this Series A round. Several other regional VCs will also be invited to participate. The startup will use funds to strengthen its focus on increasing digitalisation in the health sector.

Amanotes invests in Swedish startup

Vietnam’s music games publisher Amanotes invested in the pre-Series A funding round of Swedish startup Reactional Music. Other investors in the round are Butterfly Ventures and angels, including Kelly Sumner, a former chairman of Mediatonic, CEO of Red Octane, and CEO of Take 2 Interactive. This round follows a number of seed rounds at the Stockholm headquartered Reactional.

SC Ventures invests in BetterTradeOff

Singapore-based fintech startup BetterTradeOff, which aims to make financial planning accessible to everyone, secured an undisclosed sum investment from SC Ventures, the VC arm of Standard Chartered Bank.BetterTradeOff will use the capital for technological enhancements and geographical expansion.

TablePointer raises US$2.3M

TablePointer, an energy-efficiency-as-a-service (EEaaS) startup in Singapore, received over US$2.3 million in an oversubscribed seed funding round led by Wavemaker Partners, AgFunder, and ENGIE. The funding will be used to add new features and product modules and enter fast-growing markets in Southeast Asia.

Legit Group nets US$13.7M

Legit Group, a multi-brand cloud kitchen operator, secured a total of US$13.7 million in a Series A round of financing. MDI Ventures, the VC arm of Telkom Indonesia, led the round, with participation from SMDV, East Ventures, and Winter Capital. The firm will use the capital to expand in 2023 by targeting Jabodetabek and other cities with large delivery markets; currently, 95 per cent of Legit’s outlets are only still within the Jakarta area.

Also Read: The week that was: A sneak-peek into the top news stories published in April first week

MindX nets US$15M Series B

MindX, an online coding school in Vietnam, raised US$15M in a Series B financing round, led by Kaizenvest. Aksorn, Mynavi Corporation, and Wavemaker Partners also joined the round. The edutech startup will use the money to grow its platform, expand its reach into smaller cities and rural areas, as well as to create more educational content.

Fit Hub secures US$6.5M

Indonesian tech-enabled fitness startup Fit Hub bagged US$ 6.5 million in a new financing round. The investors include Global Founders Capital, Trihill Capital, Goodwater, Wavemaker Partners, East Ventures, Gentree, and BAce Capital. The capital raise will help Fit Hub expand its offline and online presence, offering free workout content and e-commerce for healthy foods, apparel, workout equipment, and supplements. The startup also plans to open 100 clubs by year-end.

Travelio nets Series C

Indonesian property rental startup Travelio secured an undisclosed sum in a Series C extension round led by an unnamed Korean financial group. Korea’s DAOL Ventures (former KTB), Orzon Ventures (powered by Thailand Conglomerate PTTOR and 500 Global), and Appworks from Taiwan also participated, along with the existing backer Pavilion Capital. The startup will use the funds to expand into new cities in Indonesia and launch a new vertical in the rent-to-own sector.

SmartRyde secures US$3.4M Series A+

SmartRyde, a pre-booked airport transfer marketplace in Japan, has announced a JPY 450 (US$3.4) million fundraise through the third-party allocation of shares led by NVC No.1 Limited Liability Partnership (a fund jointly managed by NVenture Capital Limited and NEC Capital Solutions Limited). SMBC Venture Capital, Yamaguchi Capital, Hiroshima Venture Capital, Shigagin Regional Revitalization SD Fund, and Iyogin Capital. The round also comprises a subordinated loan from Japan Finance Corporation.The startup will invest the capital in expanding corporate functions and building strengths of business teams and in product development.

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like connecting with investors, visibility through the platform, and other prizes. Join TOP100 here.

Copyright: Elnur

The post The week that was: A snapshot of the top news stories published in April 2nd week appeared first on e27.