Startups don’t need the services of public relations agencies – at least, that’s what most startup Founders or business leaders would like to believe. But let’s review that theory, shall we?

Imagine if an employee or an executive representing your company committed a blunder. Picture this: a mishap equivalent to a botched spell or a misplaced Portkey causing havoc. Now, what if a customer complaint, fueled by a touch of dark magic, went a bit too far and quickly became a viral sensation online, casting a dark cloud of negativity on your brand?

Imagine the repercussions of such a situation, as if there is a secret dark wizard employed in your company. And what if, despite investing significant time and resources in marketing your products and services, the public remains oblivious to your brand, almost as if they were all under the influence of the memory charm, Obliviate? Clearly, in that situation, all you need is a simple Beautification Charm.

But, since we don’t have that in the real world, how about trying the next best thing and getting yourself a reliable PR agency to act as your Patronus and keep all those Dementors, aka negative public perception, at bay?

The importance of public relations in crisis management

Ok – maybe that was too Harry Potter. Let’s study a real-life example. Startup Y is a Malaysian tech company that recently launched a groundbreaking e-commerce platform, aiming to revolutionise online shopping in the country.

The platform has gained popularity among users, receiving positive reviews and attracting significant media attention. However, as the user base expands rapidly, Startup Y encounters a PR crisis when a major data breach occurs, compromising the personal information of thousands of users.

Also Read: Barbie-fy your business with the power of PR

News of the data breach quickly spreads across social media platforms, causing panic and eroding trust among users. Negative comments, online articles, and viral videos criticising the startup’s security measures start circulating, damaging Startup Y’s reputation and impeding further user acquisition. The internal team at Startup Y, overwhelmed by the crisis, struggles to respond effectively, exacerbating the situation.

Recognising the urgency and severity of the issue, Startup Y realises the need for professional assistance and decides to engage a reliable PR agency with expertise in crisis management and come with amazing media relations, specifically in the Malaysian market. Fortunately, the PR agency quickly takes charge and develops a tailored communication plan to address the issue and rebuild trust with the affected users.

You see, being a Founder of my own company, I know for a fact that sometimes leaders tend to think that they know everything that is best for their business. Sometimes they feel like they can do everything themselves, so why would they need to involve outsiders in their operations? Why try to fix something that is not yet broken, right?

Why startups need to invest in PR agencies

Sirius-ly, you may need to think of it this way – you’re just preparing the umbrella before it rains, and this umbrella of yours is not a normal umbrella that just protects you from getting wet. It also actively does its best to make sure that you have sunscreen on and always look your best whenever you step outside. You may not think you need that umbrella because it’s not raining yet, but believe me, you’re going to wish you had that umbrella ready at arm’s reach.

Hiring a PR agency to take care of the image aspect of your business is especially crucial for startup companies.

While the founder Focuses on the business aspect of it, the little elves of the PR agency can work simultaneously to increase the visibility of your company, manage any crises that may arise, increase the rate of positive perception towards your brand and handle the creative aspects that will aid in maintaining a good reputation among the public, which to be honest, are your potential customers.

Also Read: The growth of business messaging: How it’s improving business performance in Southeast Asia

Proactive PR consultants will make sure that you are seen by the right people (like VCs) at the right time.

Needless to say, having a PR agency to handle the image and publicity side of your business is a convenience that not many leaders leverage. Everyone knows that the company’s image can make or break a business – so what’s the harm in ensuring that you’ve got yourself covered if anything goes wrong?

For companies that have been around for quite some time, having a PR agency to back them up can also mean increased credibility of the brand. The PR consultants will be able to advise you on certain aspects of the business that you should emphasise based on their knowledge within the media industry. This also applies to startup companies too. It can show potential investors that your company truly is worth the money.

Aside from that, the people at the PR agency can even help you get in touch with the right people at the right time. Looking for an award? Let the PR people know what kind so they can put out their feelers out there. Need help to get people to come to your company’s event? Let the PR people know so they can get in touch with their vast network of media contacts to make that happen!

Ultimately, a PR agency can help you with your business in so many ways that you may not even realise, especially for startup companies. It’s hard to list down all the benefits of hiring a PR agency as most of them have their own specialities and areas that they tend to focus on. But I have managed to pique your interest, pick up the phone and try giving a few PR agencies a call to discover which one is right for you.

“The wand chooses the wizard, Harry,” said Garrick Ollivander from the wizarding world. But in this case, you choose your wand and just watch the magic happen.

And to answer the earlier question, yes, startups do need a reliable PR team to back them up!

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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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The digital landscape is abuzz with a debate on the disruptive potentials and the pros and cons of generative Artificial Intelligence (AI). Numerous AI tools have already made their mark in the market, including Adobe Firefly.

Firefly, launched early this year, is a generative AI tool focusing on the creation of images and text effects. The platform eliminates the need for deep coding knowledge or complex prompt engineering. Firefly, as Sinnathamby explains, plans to introduce an array of utilities that it expects to revolutionise the design and editing process.

Also Read: Is generative AI the game-changer for productivity?

Firefly allows anyone to produce images, videos and documents and is available in 20 languages, including French, German, Japanese, Spanish, and Brazilian Portuguese. Companies can integrate Firefly with their creative collateral to generate content featuring images, vectors, and brand language. The platform also offers a mechanism for businesses to secure IP indemnity for content generated through certain workflows.

Upon its commercial launch, Firefly is slated for integration into a range of Adobe’s product lines, including Adobe Experience Manager, Express, Photoshop, and Illustrator, eventually extending to all Adobe products.

Firefly’s reach, at present,  is confined to desktop environments, with accessibility on tablets or mobile devices yet to be introduced.

Moving forward, Firefly aims to add new utilities to allow users to declutter photographs, alter a video’s ambience, introduce new elements into illustrations, experiment with various design options, enhance 3D objects with texture, and architect unique digital experiences.

Breaking language barriers

Sinnathamby claimed that nearly a billion assets have already been generated on Firefly via the Adobe website and Photoshop.

The company is keen on expanding its capabilities by collaborating with the video and audio community to add video editing features in the near future. They include:

• Text-to-colour enhancements: to enable users to instantaneously modify the mood and setting of their works through simple prompts.
• Advanced audio generation capabilities: to seamlessly produce royalty-free custom sounds and music, enabling users to tailor auditory experiences that complement a specific scene or emotion.
• Quick generation of eye-catching fonts, text effects, graphics, and logos: to enable users to create subtitles, logos, and more within minutes, using just a few keywords.
• Powerful script and B-roll capabilities, where AI analysis of script to text will dramatically accelerate pre-production, production, and post-production workflows.
• AI-driven creative assistants and co-pilots that provide personalised, generative tutorials. These features are designed to help users master new skills quickly and streamline the process from initial vision to creation and editing.

“The vision for Adobe Firefly is to help people expand upon their natural creativity, regardless of their experience levels with design and technology. Generative AI will drive significant gains in productivity,” said Sinnathamby. 

Also Read: Why the future of work at Adobe is hybrid and how we are building it

Adobe, which is part of Singapore’s AI Verify Foundation to promote the responsible use of AI, wants to develop creator-centric generative AI tools responsibly. For instance, Content Credentials are automatically attached to content created with Firefly to indicate that generative AI was used. 

As Firefly transitions from its beta phase, Adobe is developing a compensation model for its Stock contributors. This is aimed at catering to a diverse community of creators, including professionals and hobbyists. 

As the AI landscape evolves with impending announcements and updates, the market response to Adobe’s adaptations will only enhance this dynamic ecosystem.

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

Image credit: Adobe

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Less than eight months after securing US$6 million in funding from some of the top VCs in Southeast Asia, Bangkok-headquartered HD attracted a new round of “significant investment” from Vietnamese VC firm FEBE Ventures.

HD, which runs HDmall (a healthcare and surgery marketplace) and HDcare (an elective surgery product) in Thailand and Indonesia, is looking to deepen its presence in the region and expand into new markets.

Also Read: ‘Airbnb for surgeries’ HDmall gets FEBE Ventures backing to deepen market presence in SEA

e27 caught up with HD Co-Founder and CEO Sheji Ho to discuss the company’s plans.

Below are the edited excerpts from the interview:

Can you disclose the deal size and other details?

We’re not in a position to disclose the funding amount, but it’s a considerable sum on top of our last US$6 million which will enable us to achieve our goals.

HD plans to deepen your market presence in Southeast Asia. Does this mean you plan to expand into new markets or expand further in your existing markets?

As a marketplace business, our lifeline is liquidity. Therefore, our main priority is to continue to add more healthcare providers to our platform, whether it’s hospitals, clinics, operating rooms, or surgeons.

We entered into our recent strategic partnership with Johnson & Johnson MedTech to do this. Our collaboration with them has been pivotal in accelerating our supply-side acquisition efforts.

Regarding geographical expansion, we plan to cement our leadership position in Thailand, accelerate our Indonesia marketplace liquidity, and enter Vietnam next year.

What synergy does HD see with FEBE Ventures? Do you want to open an office in Vietnam as well?

We consider FEBE as a strategic partner for our Vietnam market entry. It understands what it takes to build and operate a business. With its experience and network, we’ll be able to work closely with the firm to launch our healthcare and surgery marketplace in Vietnam.

FEBE also sees a blue ocean opportunity for our business model, which currently does not exist in Vietnam; most startups there are telehealth, online pharmacy, or insurance-focused.

How has HDcare grown since its launch in January? Do you foresee a strong demand for elective surgery in SEA?

Our HDcare elective surgery business has grown 30x since its launch. This is driven by a rapid supply-side expansion in terms of the number of hospitals offering us operating rooms and the amounts of surgeons on our platform.

In addition, our strategic partnership with Johnson & Johnson Medtech only recently kicked in, and overall we’re already seeing patient inquiries up 50 per cent from July going into August.

And we’re only scratching the surface; the private healthcare opportunity in emerging SEA markets is massive. Thailand alone is estimated to have a US$7 billion private healthcare market size (self-pay and private insurance).

With healthcare spending in emerging SEA expected to outpace GDP growth by 3x, we’re looking at a combined US$100 billion+ private healthcare opportunity by 2033 for Thailand, Indonesia, Vietnam, and Myanmar.

Elective surgeries outside social security coverage alone take up half this opportunity at over US$50 billion.

Do you plan to add new products and venture into new verticals?

We’re currently 100 per cent focused on our ‘dual engine’ strategy of running HDmall (mostly outpatient) and HDcare (inpatient, elective surgeries).

Also Read: These former aCommerce execs are building an ‘Amazon’ for healthcare in Southeast Asia

That said, there’s been interest from insurers to work with us more closely. They see our elective surgery network as a lower-cost option to reduce their claim costs.

Also, there’s a huge opportunity to use our healthcare data set to train Large Medical Models (LMMs) in the future to automate and optimise different parts of the insurance value chain, for example, prior authorisations and utility management.

Can you share your m-o-m revenue growth over the past three months?

Fueled by our HDcare expansion, we’ve been able to continue to grow consistently at double-digit month-on-month percentages.

You plan to achieve profitability by the end of the year. Do you have any concrete plans to achieve this goal? Does it also mean you will go frugal by cutting costs, reducing staff, etc.?

Our profitability milestone will be mainly achieved by scaling our current business, particularly HDcare elective surgeries. We’ve been running our business quite efficiently, especially compared to other startups that previously raised large sums of money during the bull market.

What are HD’s short-term and long-term plans?

Our immediate goals are to accelerate marketplace liquidity for both HDmall and HDcare so we can offer more accessible and affordable healthcare and surgeries to patients in our markets.

Over the long term, we see an opportunity to work closely with insurers and employers to reach even more patients with affordable, high-quality care and surgeries.

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(The second picture used in this article is AI-generated)

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In an email interview, e27 asked TRIREC Partner Mike Lim about the state of climate tech investment in Southeast Asia (SEA) today. According to him, the diversity of the region presents “both challenges and opportunities”.

Because of that, he stresses that understanding the specific contexts and challenges of each country is crucial for successful climate tech investments.

“Many governments in SEA have recognised the importance of addressing climate change and are committed to sustainable development goals. There are policies and regulations put in place to encourage the adoption of climate technologies and incentivise climate-friendly efforts. This presents an opportunity for climate tech startups to align with government priorities and access support and funding,” Lim says.

“Moreover, as SEA is exposed to a wide range of climate-related challenges, including rising sea levels, extreme weather events, deforestation, air pollution, and water scarcity, climate tech startups are well poised to address these specific challenges and create impactful solutions that resonate with local communities,” he continues.

“Lastly, SEA’s startup ecosystem has been flourishing in recent years, with a growing number of entrepreneurs and investors focusing on technology-driven solutions. This ecosystem provides a good grounding for climate tech startups to thrive, collaborate, and attract funding.”

Also Read: What is left behind in our conversation on climate change

In terms of challenges, like many other verticals, Lim points out that climate tech investment has also been affected the ongoing funding winter with its market fluctuations and changing economic conditions.

“However, we have also observed that interest in climate tech investments remains buoyant, with investment continuing in the space, albeit at more reasonable valuations compared to about two years ago,” Lim says.

This is why Singapore-based TRIREC remains optimistic about the prospect of climate tech investments in SEA.

“The urgency and importance of addressing climate issues have not diminished, and there is a persistent global commitment to decarbonisation and sustainability. As such, we believe that the enduring interest in climate tech and the growing awareness of environmental issues will continue to provide a strong foundation for continued investment in this sector,” Lim stresses.

How TRIREC supports climate tech startups

When it comes to supporting startups as an investor, Lim explains that TRIREC recognises the barriers faced by climate tech startups and are actively working to support them in overcoming these challenges.

“Drawing from our own entrepreneurial experiences and diverse backgrounds, we also provide valuable insights and strategic direction to help these startups navigate the complexities of the market,” says Lim.

Also Read: Demystifying the financial impacts of climate change with Intensel

“Moreover, we have an extensive network and connections within the climate tech ecosystem that we can tap into to facilitate collaboration between startups and industry partners. Our strategic partnership with Pacific Channel is one example. We believe that such collaborations can lead to greater market access for startups aiming to make a broader impact.”

As a venture capital (VC) firm, TRIREC focuses on decarbonisation investments with a focus on five verticals: Food and agriculture, mobility, buildings, industries and energy.

According to the firm in a statement, through its expertise in analysing decarbonisation technologies, TRIREC maximises climate impact and business gains by focusing on investing in exceptional entrepreneurs whose innovations accelerate the reduction, prevention or sequestration of greenhouse gas emissions.

It has 20 portfolio companies from two funds, with three of them becoming unicorns.

“This year marks an exciting and transformative period for us as we embark on two significant fundraising initiatives. The first is TRIREC Venture II, a continuation of our early-stage decarbonisation strategy with a global mandate. We hope to raise between US$150 million to US$200 million to build on our previous successes,” Lim explains the firm’s upcoming plans.

“The second will be Energy Ignition Venture, which is a groundbreaking collaboration with INNOPOWER, a Thai-based energy innovations company which is formed through a joint venture between three of Thailand’s leading energy companies. This is a US$100-million growth stage fund that will invest in startups with existing revenue traction and help them accelerate their growth trajectory,” he closes.

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Image Credit: TRIREC

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Terminal 3, a Hong Kong-based Web3 startup, has raised undisclosed pre-seed funding. 

The investors include 500 Global, CMCC Global, Consensys Mesh, Bixin Ventures, BlackPine, DWeb3, Hard Yaka, Bored Room Ventures, and Mozaik Capital.

Terminal 3 was founded by Gary Liu alongside his partners Malcolm Ong (CPO) and Joey Liu (COO).

Terminal 3 aims to replace centralised data storage that deprives users of privacy and saddles enterprises with compliance and security issues and associated costs. It leverages decentralised storage and zero-knowledge proofs to empower an equitable Web3, where user data is freely composable while remaining fully private and secure.

Also Read: Don’t just build a Web3 community, start a movement

“The continued growth in blockchain allows us to reimagine digital data ownership and security,” said Gary Liu, CEO of Terminal 3. “We believe that data should flow freely between applications to drive innovation and improve user experience, but not at the expense of personal privacy and control.”

The three co-founders previously worked together at the South China Morning Post, where they led the newspaper’s digital transformation. Gary was the Post’s CEO, while Malcolm and Joey were SVP of Product and Head of Strategy, respectively.

Ong was also the co-founder and CTO of Skillshare, an online learning community for creativity, while Gary and Joey co-founded Artifact Labs, a Web3 startup backed by Blue Pool Capital and Animoca Brands. Gary is also the Founding Chair of Web3 Harbour, an association in Hong Kong serving Web3 builders, investors, users, and leaders.

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Dear Pro member,

Halodoc has raised US$100 million in a Series D funding round led by existing backer Astra Digital. With this, the total capital raised by the Indonesian healthtech company so far has touched US$258 million, bringing it closer to achieving unicorn status.

The company’s success can be attributed to its extensive network of more than 20,000 medical practitioners, 3,300 hospitals, and 4,900 pharmacies, providing comprehensive healthcare services to the Indonesian population.

As of 2022, Halodoc boasts an impressive user base of over 20 million monthly active users, demonstrating its widespread popularity and effectiveness. This substantial investment will undoubtedly bolster Halodoc’s growth, allowing it to expand its services further and solidify its position in the competitive healthtech market.

This is the top story of today’s Ecosystem Roundup.

Scroll down to read the other major headlines.

Sainul,
Editor.

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Indonesia-based healthtech firm Halodoc raises US$100M Series D
The lead investor is Astra Digital; Halodoc’s platform offers its users a network of over 20,000 medical practitioners, 3,300 hospitals, and 4,900 pharmacies.

VinFast to close SPAC deal in August at US$23B valuation
The merger with Black Spade Capital brings VinFast to a US$27B enterprise value and US$23 billion equity value, making it one of the most highly valued EV firms globally.

Bukalapak posts US$40.7M net profit in Q2 as revenue increases 30%
A major driver for this growth is its marketplace unit, which recorded a 74% growth in revenue to US$45.3M; The segment encompasses its general Bukalapak platform as well as Itemku, which it acquired in 2021.

Blibli’s revenue up 16% in H1 2023, loss narrows by 29%
The company generates its revenue from first-party retail, third-party retail, corporate customers, and physical stores. Only first-party retail experienced a decline in net revenue for H1 2023, dropping 6% year on year to US$260M.

Vietnamese K-12-focused edutech startup VUIHOC raises US$6M Series A
The investors include TNB Aura, Do Ventures, BAce Capital, and Vulpes; VUIHOC aims to harness the power of AI to offer personalised learning experiences specifically tailored to meet students’ individual needs.

Biodiversity Accelerator+ unviels startups joining its 2023 cohort
More than half of the companies in the Biodiversity Accelerator+’s first batch have females at the helm, and 63% are based out of APAC; The 3-month programme will commence in Singapore next month.

SME financing platform Validus appoints Vineet Agarwal new Singapore CEO
He will replace Jayanta Roy, who is retiring; Agarwal previously served as the president of payments at the firm, where he helped roll out the company’s SME financial services offering in Singapore.

Airwallex pumps US$165M into Singapore entity
Airwallex Singapore recorded US$5.4M in revenue last year; Meanwhile, the fintech firm’s loss from operating activities increased to US$5.9M in 2022 from US$4.3M in the year before.

Capital A partners with UnionDigital Bank for SEA expansion
The aim is to push the expansion of BigPay, Capital A’s fintech arm, in Southeast Asian markets, including Malaysia, Singapore, Thailand, Indonesia, and the Philippines.

Justin Choi resigns just a month after taking charge as Spenmo CEO
Choi resigned from his role at the expense management startup due to personal reasons; Jo-Ann Chung, Spenmo’s CPO, will take over as acting CEO.

‘Asia presents potential for high-impact, high-return investments in life sciences, deeptech’
Yet, there’re unique challenges to investing in Asia, such as its complex regulatory environment and cultural and language differences: says Harmonix’s Maximilian Winter.

How Circular can help to reduce e-waste through its device subscription service
Circular notices a problem of underutilisation that leads to the significant amount of e-waste generated in Singapore each year.

Top 10 tech events in Southeast Asia you can’t afford to miss
We have an action-packed quarter to look forward to tech events in the Southeast Asia region. Save the date!

In the age of AI, which human skills increasingly stand out?
AI has limitations, and likely, for decades, it will not be able to compete with a few critical human skills.

Tried-and-tested marketing strategies for startups across all stages in Singapore
For startups or emerging brands, marketing matters more than ever to ensure that they stand out and succeed in their respective markets.

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One of our greatest global health challenges is mental health.  As this challenge increasingly becomes more dire in recent years accelerated by COVID, many digital solutions have arisen.  Many of these have put data science and AI at the core, and more recently, capabilities in generative AI and Large Language Models.

I presented three ‘calls’ that are thematics of what will drive real-world application in mental health and some examples of global innovators that showcase these themes.  These were presented alongside speakers from MOHT and SAS Institute at a recent IDEAS event, hosted by Temus and organised by the Singapore Computer Society (SCS).

Real-world applications of AI in mental health can

• Enable precision in mental health. ML and AI can help more accurately diagnose and provide personalised treatment plans by collecting and analysing a wide range of data points (e.g., medical history, symptoms, and behavioural patterns) instead of relying on traditional inputs such as self-reporting.
• Combine physical and mental wellbeing together. Mental health has physical indicators that offer a far more powerful, objective basis, especially when we combine AI with other technologies such as IOT.
• Build solutions that can provide immediate cost savings now, not only focusing on solutions that provide potential savings in the future over very large population cohorts.

Bright spots in the industry

 One example AI being employed in digital health that I spoke about was Spring Health from the US. Their precision mental healthcare approach involved clinical assessment, personalised care plan, real-time provider feedback & recommendation and digital content.

Their mobile and web platforms use machine-learning models leveraging millions of data points to tailor interventions and treatment plans. Users reported an improvement in mental health (~70% of participants in a study improved their mental health), with fewer missed workdays, increase in productivity, and up to an average of US$7k in cost savings per participant.

Also read: How conversational AI is reshaping data insights and adolescent mental well-being

In the UK, BioBeats demonstrates how users can combine physical and mental wellbeing. It is a mental health app leveraging AI to interpret sensor data such as heart rate variability and activity, as well as psychometric data from a wearable.

A wellbeing score offers employees an overall measure of mental wellbeing based on personal health data e.g., sleep, activity, heart rate, mood and cognitive function; and delivers digital therapeutics. Companies saw a 31 per cent cut in employee absence and 54 per cent decrease in cost from reduction in length and number of sick leave when their staff used the app.

Big Health’s flagship product is Sleepio, a cognitive behavioral therapy app that aims to help users’ poor-quality sleep and insomnia. They use an artificial intelligence (AI) algorithm to provide people with tailored digital cognitive behavioural therapy for insomnia (CBT-I).

Evidence is everything in digital transformation: Big Health designed an interrupted time series analysis, comparing primary care use before and after the rollout of Sleepio, and focused on how many times people saw their GP and the relevant prescriptions they received. Sleepio became the first digital therapeutic to receive NICE (National Institute for Health and Care Excellence) guidance for NHS use last year to treat insomnia.

Why are we not already using technology widely to enhance healthcare?

Technologists must collaborate with both medical practitioners and financiers to ensure the implementation and effectiveness of the solution. Because medical treatments will inevitably involve insurance and/or public subsidies, there is also the question of whether digital care or prevention can pass the traditional lens and evaluation criterion to enable coverage. Lastly, verdict is still out on what is the ‘right’ balance between safety and innovation.

We are pioneering some of these technologies and the infrastructure and processes of industrialising technology hasn’t caught up yet.  This includes the necessary medical and legal frameworks for endorsing & measuring efficacy. Current medical and legal frameworks do not account for measuring the efficacy of AI-enabled healthcare, so tests need to be designed to ensure accuracy and robustness.

Also read: Moving mental health out of Freud’s era and beyond the couch with big data

In conclusion, AI is an amazing tool when added to the healthcare toolbox, but not a silver bullet at its current stage of development. It is most powerful when combined with other technologies for a more comprehensive and practical solution. We also must recognise the barriers to adoption and scale within the sector if we hope to continue to push the boundaries of health.

AI is here to stay, and here to help. The brightest brains around the world are and continue to pour capabilities and resources into this field —  we are only just starting to see the potential of these technologies in health and healthcare.

–

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: Christopher Campbell on Unsplash

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Airalo, an e-SIM marketplace, has secured US$60 million in a Series B investment round from a clutch of investors, its Co-Founder Ahmet Bahadir Ozdemir said in a LinkedIn post.

The investors participating in the round are Etisalat’s e& capital, Liberty Global, Singtel Innov8, Orange Ventures, Deutsche Telekom’s T.Capital, KPN Ventures, and Telefonica.

Existing investors Antler, Rakuten Ventures, Peak XV Partners, and I2BF Global Ventures also joined.

How the company plans to use the new capital is not immediately clear.

A TechCrunch report said the company currently grows revenues by 20 per cent, with about one million monthly downloads. It is also in talks to onboard more investors to raise a new round at a valuation of US$800 million to US$1 billion.

Also Read: Use this eSIM wherever you go in the world, thanks to these 2 Turkish entrepreneurs

Airalo was established in early 2019 by Abraham Burak and Ozdemir. Airalo — a combination of ‘Air’ and ‘Alo’ (which means ‘hello’ in many parts of the world) — aims to bring instant connectivity worldwide by allowing travellers to purchase virtual eSIM packages.

The firm allows users to download an affordable plan directly to their phone without the hassle of needing to exchange a SIM card. It means that if you are on a foreign trip, you no longer need to go through the hassles of buying local physical SIM cards at the airport and installing it or carrying multiple cards — no matter where you are.

In October 2021, Airalo secured US$5.4 million in a Series A led by Rakuten Ventures, with participation from Peak XV’s Surge, Antler, Singtel Innov8, Wayra (Telefonica), LG Technology Ventures, GO Ventures, Ground Control, Plug and Play, and I2BF Global Ventures. Two years earlier, the firm bagged US$1.9 million in seed funding from Antler and Surge.

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Recently, UN Secretary-General António Guterres warned in his speech at UN Headquarters that “the era of global boiling has arrived”, stressing the increasingly urgent need for global action on emissions, climate adaptation and climate finance.

So far, the startup ecosystem seems to be rising up to the occasion.

Looking back into our own coverage of the latest updates in the Southeast Asian (SEA) tech startup ecosystem, this year alone, we noted that there are at least eight funding announcements in the climate tech and sustainability sectors. These funding rounds were raised by startups working on various solutions, from alternative protein to food waste.

During Echelon Asia Summit 2023, we also learned how leading investors such as Monk’s Hill Ventures have begun putting ESG elements in their consideration of a potential investment, regardless of which sector they are working on.

Apart from that, we also see new funds for investments in the climate tech sectors being announced, with companies working on different solutions to mitigate the impact of climate change operating in the market.

Also Read: Demystifying the financial impacts of climate change with Intensel

All of this might sound like a great effort to tackle the greatest crisis in our lifetime. But sometimes (often), one might wonder whether we have done enough, whether there are things that are left to do. We might think that we have done and considered all the best solutions, but there is bound to be a blind spot.

Da-dum.

(I added sound effects for dramatic effects. And to hit the word count.)

Now, I understand that this is not a question that we can answer overnight—let alone in a 600-word opinion piece. More importantly, the answer might look different depending on your role in the startup ecosystem. I can only speak from my experience as a writer and editor who has been working in the community for close to a decade.

Recently, I had the privilege of attending the Sustainability Media Academy held by EB Impact. The two-day event consisted of masterclasses, workshops, and panel discussions on reporting climate change issues for journalists and content creators in SEA. During the event, I had the opportunity to meet and learn from senior journalists and editors about how to tell stories about climate change.

There are many important lessons learned over the course of two days, but one that stays with me was this line said by senior journalist and media consultant Augustine Anthuvan:

Reporting climate change is all about people and their needs, not about technology or being green.

As an editor for a publication that focuses on the startup ecosystem, this hits me deeply. Certainly, in our coverage of climate tech and sustainability, we put focus on the startups and tech solutions that they build to solve the problem. But there is a stakeholder that we have been missing out on: the humans in the story.

Also Read: Following fund completion, Eurazeo aims to support up-and-coming leaders in climate tech

This goes beyond the startup founders and investors that are involved in building and growing the company. The humans here are the people who will be directly impacted by climate change itself, the most vulnerable parts of society —those whom the tech solutions are supposed to benefit the most. Who are these people? What are their challenges? How exactly can climate change (and its solutions) change their lives? What happens when they are missing from the story? Why are they missing from the story?

It definitely encourages me to rethink how I have been writing about climate tech and sustainability. And hopefully, I will get to make that change soon.

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Image Credit: RunwayML

The post What is left behind in our conversation on climate change appeared first on e27.

HD, the Bangkok-headquartered company behind the HDmall, a healthcare and surgery marketplace in Thailand and Indonesia, has secured a “significant investment” from Vietnamese VC firm FEBE Ventures.

The size of the deal has not been disclosed.

The capital will enable HD, which describes itself as the ‘Airbnb for surgeries’, to expand its reach and deepen its market presence in emerging Southeast Asia.

This round follows a US$6 million raise in January from Partech Partners, M Venture Partners, AC Ventures, iSeed, and Orvel Ventures and the launch of its new elective surgery product HDcare.

Also Read: These former aCommerce execs are building an ‘Amazon’ for healthcare in Southeast Asia

HD was co-founded in 2019 by Sheji Ho, Aditya Jamaludin, Raya Chantaramungkorn (all former top executives at Thailand’s leading e-commerce enabler aCommerce), and Frankie Shum (formerly with Ardent Capital). It connects patients to hospitals, clinics, operating rooms and surgeons while offering healthcare financing solutions to increase access to affordable care and surgeries.

HDcare works with healthcare providers – many already on the HDmall platform – to increase the utilisation of hospitals’ and clinics’ operating room capacities.

The firm works with 1,500 healthcare providers, including some of the largest hospitals. To date, it has served over 250,000 patients.

Since its launch in November 2022, the company claims the patient demand for HDcare has grown 30x. It aims to achieve profitability by the end of this year.

Sheji Ho, CEO and Co-Founder of HD, said: “FEBE’s network and market expertise will accelerate our expansion into Vietnam, a country with a population of 100 million and a healthcare ecosystem that aligns with our healthcare marketplace and surgery solutions.”

The healthtech recently entered into a strategic partnership with Johnson & Johnson MedTech, aiming to elevate the surgical skills of healthcare providers and surgeons operating on HD’s HDmall and HDcare platforms. This collaboration aims to increase patients’ access to high-tech and innovative surgical procedures, improving patient outcomes and reducing the cost of healthcare services.

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