In a rapidly evolving world, the challenges faced by families and children have become increasingly complex. As technology advances and societies change, the role of parents as educators and mentors has taken on new dimensions.

To address these pressing issues and build a thriving community, Fammi, an Indonesia-based startup, was born. Fammi strives to create a strong and interconnected community that values lifelong learning and personal growth.

For this article, I sat down with one of the startup’s Co-Founders to delve into the inspiration behind its inception, its innovative approach to addressing parent-child issues, and its vision for transforming parenting and education in Indonesia.

Addressing impacts of mental health on academic success and overall well-being

Fammi’s roots lie in the shared struggles of its Co-Founders — Muhamad Nur Awaludin, Robi Tanzil Ganefi, and Henny Irniawan. From long-distance relationships to bullying and mental health challenges, they experienced firsthand the obstacles faced by families in modern society. Their realisation that these issues were not isolated to them but affected countless others inspired the birth of Fammi.

Mental health disorders have emerged as a pressing global crisis, with a significant impact on academic success and overall well-being. In Indonesia, these challenges are particularly pronounced among school children. According to a recent study, about a third to a half (37–53 per cent) of undergraduate students in Indonesia reported high-stress symptoms, 25 per cent experience depression and 51 per cent experience anxiety.

Fammi’s cutting-edge solutions cater to diverse parenting and education needs. Seamless integration of education and mental health services facilitated communication with schools and teachers, and affordable pricing options further set Fammi apart from other edutech startups in Indonesia.

Personalised consultations and support from qualified professionals and peers address specific concerns, ensuring parents feel supported and confident in their role. From AI-driven knowledge-based consulting to gamified learning resources, the platform maximizes the effectiveness of its resources.

Also read: East Ventures backs immersive game-based learning platform SoLeLands

Supporting parents’ mental well-being and fostering a community for lifelong learning

Fammi’s CARE Approach, centred around Consult, Assess, Re-Learn, and Empower, addresses mental health issues as an ongoing process. By raising awareness, understanding support needs, and providing personalised resources, Fammi helps parents manage their mental well-being effectively. Digital counselling and additional self-care resources contribute to a positive and nurturing family environment.

Fammi’s vision revolves around fostering an interconnected community that values lifelong learning and personal growth. By providing dedicated community forums, expert-led webinars, and interactive tools, Fammi encourages parents to connect, learn from each other, and share experiences. The platform emphasizes continuous learning, empowering parents on their journey of personal growth.

Fammi recognises the crucial role parents play in a child’s development and offers a holistic solution that integrates education and mental health support. By providing accessible mental health services, expert guidance, and resources, Fammi bridges the gap between parents and children, fostering understanding and empathy within families. This comprehensive Edu-Health CARE platform equips parents with the tools they need to support their children’s success and well-being.

The startup’s comprehensive and tailored social learning platform empowers parents through education, personalised guidance, and community support. Educational content, expert-led workshops, and webinars enable parents to learn new strategies to improve their relationships with their children.

To support parents in their role as educators, Fammi collaborates closely with schools and teachers. Resource sharing, professional development workshops, facilitated communication channels, and feedback integration strengthen the partnership between home and school environments.

Also read: KarirLab secures pre-seed funding round to help fresh graduates navigate the job market

Fammi’s vision for the future

As the Co-Founder and CMO of Fammi, Irniawan envisions a transformative future where every child has equal access to quality education and nurturing guidance. “Fammi aims to build a vibrant community that empowers parents, educators, and experts to collaborate, share insights, and create innovative approaches to parenting and education. Leveraging technology, data-driven insights, and a sense of belonging, we seek to shape a brighter future where every child thrives, and every family is supported,” she shared.

Fammi’s journey as an Indonesia-based startup is rooted in a shared passion for overcoming family life challenges. By providing a comprehensive and tailored social learning platform, Fammi empowers parents with effective strategies and mental health support.

Through collaboration with schools and teachers, Fammi strengthens the partnership between home and school environments. Driven by a vision of transforming parenting and education, Fammi is poised to make an indelible impact on families, children, and communities across Indonesia, shaping a future where every child thrives, and every parent feels empowered.

—

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: Fammi

The post Empowering families for a thriving future: Fammi’s vision for parenting and education in Indonesia and beyond appeared first on e27.

(This is a news series for Southeast Asia’s “soonicorns” or potential unicorns to share their startup journeys with the region’s startup community).

The electric scooter market in Indonesia is not picking up like in India, mainly because there are few appealing offerings, said ION Mobility Co-Founder and CEO James Chan.

Moreover, the much-mooted subsidies are not fully implemented in the country or the region.

“There are no performance- and design-equivalent offerings that can strongly compel riders in Indonesia or Southeast Asia to make a switch,” he said in an interview with e27. “Besides this, the archipelago doesn’t have a subsidy scheme similar to India’s FAME, which is way more mature and established.”

ION Mobility, established in 2019,  is a smart electric motorcycle company currently focused on the Indonesian market. It soft-launched its first model, M1-S, in Jakarta last November and has been receiving pre-orders.

According to him, M1-S offers a “completely digital experience” with advanced features, such as reverse gear, high-quality digital display, connected bike, and an integrated bike-rider-ride-app experience. Plus, the model has the power of a 250-cc equivalent motorcycle (benchmarked to be neck-to-neck against the Xmax 250 from 0-60kph) in the body of a 155-cc equivalent maxi-scooter but is priced lower than the 155cc and 250cc petrol equivalents, while achieving equal- to superior-total-cost-of-ownership to 155cc equivalents in two to three years.

Also Read: Indian two-wheeler maker TVS joins US$18.7M Series A round of ION Mobility

In Jakarta, ION is setting up a factory and experience centres and is completing the tooling and production preparation, including the ongoing commissioning of the factory. “The Jakarta plant has the capacity to produce up to 50,000 M1-S per year in the first phase. It will contain a full battery pack line alongside the M1-S assembly line, ensuring that the M1-S will be the highest local content EV motorcycle in Indonesia by end-2023,” Chan boasted.

In his opinion, the Indonesian market is flooded with players that white-label or completely outsource design and development to China or other European players, with minimal in-house design and engineering value-add beyond assembly, sales, and marketing. “We, on the other hand, have adopted a full-stack end-to-end approach approach. This is the only way to manage cost well, even at a low scale, while maximising outcomes and ensuring maximum margins.”

Early this year, ION Mobility secured US$18.7 million in a Series A financing round led by India’s two-wheeler major TVS Motors. “TVS has been more-than-helpful in ways that no VC can be. Its 40-plus years of experience — first by learning from partnering with Suzuki and later on their split-up and with its India-specific realities and innovation driving its capabilities and processes in motorcycle design, engineering and manufacturing — has allowed us to reduce 11kg weight from M1-S quickly,” he shared.

“This helped us save cost and improve range and performance. We have also aligned on some common parts by tapping into TVS’s Indonesian supply chain networks. Its support relates directly to our goal of delivering an automotive-grade M1-S towards the end of this year,” he added further.

Drawing a parallel between the Indian and Indonesian markets, he remarked the former has a conducive funding ecosystem. “SEA doesn’t have the same funding ecosystem for hardware-first companies like ours. There’s not even enough talent for more than one such company.”

Chan also said ION Mobility is receiving inbound interest (for US$5 million more investment) to close its Series A round, but the company is not in a rush. “We, however, will appreciate the extra capital going into 2024. To date, we’ve remained extremely capital-efficient.”

“We need to raise more, especially next year, after starting the delivery of our units and supporting their use on the roads of Indonesia. We also have early plans for a proper Series B round in 2024 while keeping an eye on the unstable macroeconomic climate,” he stated.

Early this year, the company said it had an ambitious plan to convert the 200-plus million motorcycle users from petrol to electric to drive a sustainable future in Southeast Asia. How do you plan to achieve this goal? “One motorcycle at a time, starting with Indonesia. The 200 million conversion is a long-term goal. We have a long way to go towards that lofty goal,” he signed off.

—

Image Credit: ION Mobility

The post There is talent shortage in the e-motorcycle space in SEA: ION Mobility CEO appeared first on e27.

Singapore-headquartered global impact investor Earth Venture Capital has joined the funding round of US-based lithium-silicon battery company Group14.

Other prominent backers of this round are Microsoft’s Climate Innovation Fund, Lightrock Climate Impact Fund, Moore Strategic Ventures, Oman Investment Authority, and Molicel.

This capital raise will enable Group14 to scale up production capacity, expedite research and development efforts, and bring their lithium-silicon battery solutions to market at an accelerated pace.

Group14 develops lithium-silicon batteries by leveraging the unique properties of silicon to offer “unparalleled advantages” in terms of energy density, charging speed, and overall performance compared to traditional lithium-ion batteries. The firm claims its technology has the potential to accelerate the adoption of electric vehicles, enable efficient renewable energy integration and transform grid storage.

Also Read: Building energy management startup Ampotech raises US$1.3M led by Earth VC

Linh Nguyen, Founding Partner at Earth VC, said: “Group14’s lithium-silicon battery technology is a game-changer with a simple but powerful vision where aeroplanes make less noise, cars emit less carbon, and nature gets more authentic.”

In addition to the financing round, Group14 has also unveiled plans for an additional BAM (battery active material) factory as part of a joint venture factory in South Korea with SK Inc. These factories are engineered for modular manufacturing, with each module producing 2,000 tons of SCC55 (silicon-carbon composite) annually.

In April this year, Earth VC joined the US$5 million Series A investment round of Israeli intelligent traffic management startup ITC.

The post Earth VC backs US-based lithium-silicon battery firm Group14 appeared first on e27.

Dear Pro member,

Funding into Southeast Asia’s tech startup space fell 71% from US$8 billion in the first half of 2022 to US$2.3 billion in H1 2023, as per a Tracxn report. The decline was driven mainly by a 72% plunge in late-stage investments.

H1 2023 is the least funded half-year since 2020. The region’s tech startup ecosystem witnessed its highest funding in 2021, after which there was a steady decline. Investments into this region fell by 39% in 2022 from 2021. Some of the primary reasons for this downward trend could be the rising interest rates and the current macroeconomic environment.

Fintech, enterprise applications, and retail were the top-performing segments in H1 2023. However, these industries witnessed a drop in funding. Two segments that observed upticks are auto-tech and insurtech.

The overall trend doesn’t inspire confidence in the region’s startup ecosystem. However, things could be reversed as the world emerges from the shackles of the current macroeconomic environment.

This is the top story of this week’s Ecosystem Roundup. Get a glimpse of the latest major happenings in the region’s startup ecosystem.

Sainul
Editor.

===

Singapore tops SEA for tech funding in H1: report
The city-state attracted US$685M for Q2 2023, bringing its total H1 gains to US$1.2B; Total funding into SEA startups fell 71% to US$2.3B in H1 2023 from US$8B in H1 2022.

Thunes pockets US$72M at a US$900M+ valuation
The investors are Visa, EDBI, and Endeavor Catalyst; Thunes’s platform allows businesses and their customers to send and accept payments globally; It powers payments for clients such as Grab, PayPal, and Uber.

China’s XVC leads US$20M round of Indonesian BNPL firm Finture
Other backers are SWC Global, MindWorks Ventures, Antao Capital, and Tortola Capital; Finture connects customers to licensed financial institutions that provide instalment payments.

Ola advances IPO plan as electric Scooters take off in India
The Bengaluru-based firm has 38% share of India’s e-scooter market; Ola Cabs got as far as selecting banks for a US$1B IPO in August 2021, but that never materialised; It is backed by SoftBank and Tiger Global.

Hydroleap nets US$4.4M to enter Australia, Japan, Indonesia
The investors are Real Tech Holdings and the Government of Victoria; Hydroleap is an industrial wastewater treatment company offering an automated modular system without any chemicals.

Truck transport network in Thailand APX gets funding
ORZON Ventures is the lead investor; APX provides door-to-door cargo transportation services through its network with modern platforms for LTL (less-than-truckload) and palletised cargo services.

Tesla enters Malaysia with Model Y SUV
The move allows the US firm to capitalize on the red-hot ASEAN EV market, which is expected to rise from US$859 million this year to a staggering US$3.5 billion in 2028.

Low-code platform ToolJet raises funds from Microsoft, GitHub
ToolJet helps companies build internal tools quickly and with less engineering effort; The company said that its platform is used by companies, including GoTo Group, Byju’s, and Sequoia

Threads now has one-fifth of the weekly active user base of Twitter
The app has now achieved over 150M downloads, by its current estimates — which is 5.5X faster than Niantic’s Pokémon Go, which had held the record for largest app launch title since its July 2016 debut.

How Flexxon solve AI’s cybersecurity problem through hardware-focused approach
When it comes to its role in the cybersecurity industry, AI is often touted as an effective solution when infused with anti-virus software and firewall protection, says Flexxon CEO Camellia Chan.

Top news stories e27 published last week
From Radical Fund’s US$40M first close to the unveiling of the 55 finalists of SMU’s LKYGBPC competition, SEA witnessed quite a few activities in the last week.

3 key strategies to master the art of value proposition pitching
Many business owners lack a compelling value proposition that engages, intrigues, and converts conversations into potential leads.

Optimising finance made easy: Embracing AI-driven investment
AI-driven investment has emerged as a powerful tool for optimising finance, revolutionising the way we approach investment strategies.

—

The post Ecosystem Roundup: Tech investments into SEA fell 71% to US$2.3B in H1 2023 appeared first on e27.

In an email interview with e27, Kiyan Foroughi, co-founder and CEO of Needle, explains the specific problem faced by e-commerce brands today that the company aims to help solve with AI.

“The average new D2C e-commerce brand must find and transact with customers on multiple platforms channels like Facebook, Google, Tik Tok, Shopify and Amazon marketplace–this is both time-consuming and costly. On average, they are using over ten tools to analyse and market their brand and products, which is a ton of data to make sense of and a lot of decisions to make. They are also spending up to US$3,000 a month for generic marketing campaigns with little-to-no ROI. All the while, this same D2C brand is competing with many others as customers have tons of options to choose from,” Foroughi writes.

This is why Needle aims to tackle the problem by helping D2C e-commerce brands prioritise, plan, and implement marketing campaigns and assets. It will eventually bring overall marketing costs down and drive ROI.

“Our solution helps founders analyse all of their data. It connects all the different sources of data you have (e.g. Shopify, Google, Facebook). Then, our AI gets to work by doing growth modelling, sensitivity analyses, and comparing against various models of companies with similar archetypes. This helps identify the most impactful goals for your business and marketing to grow,” says Foroughi.

After that, the platform provides personalised recommendations identified from its ever-growing tactics database. These recommendations are tailored to help users achieve goals more effectively.

“Lastly, we also assist in executing these recommendations using generative AI. We can create specific emails based on the recommendations and even prepare and set up advertising campaigns for you to review and launch,” the CEO says.

Also Read: GM.co merges the best of Web3 and e-commerce to provide a better shopping experience

“In the end, our customers, typically comprising a marketing team of one to two individuals, including the founder, can now accomplish the work of a team twice their size. Using Needle, our early customers have grown their baseline revenue to 1.5x over five months.”

Based in Singapore, Needle is co-founded by a diverse team of entrepreneurs, founders, and operators who have sat at the intersection of e-commerce, growth strategies, and capital for the past 20 years. Its founders are Foroughi, Serene Gan (COO), Jeannie Nguyen (CGO), and Rachelle Yee (Head of Product).

“Our co-founders originally met at a growth agency where our team helped hundreds of brands grow and reach millions of customers, including Razer, RedDoorz, and Tiket. As data became more accessible through APIs and AI technology advanced, we realised the potential to turn our service into a product that could help millions of brands instead. We decided to productise (i.e turn a service done mostly by spreadsheets using software and AI) and enhance our offering, and that’s how Needle came to be.”

Moving the Needle for young e-commerce brands

When asked about the profiles of their users, Foroughi says that they primarily consist of founders of young e-commerce brands, particularly in the fashion, home, and beauty sectors.

These founders typically lead teams of three to 15 individuals, with the responsibility for growth and marketing still largely falling on their shoulders. Examples of young D2C brands that Needle has been working with include August Society, Indosole, and Our Bralette Club.

“Currently, we are finding a lot of traction in the US. We have acquired most of our customers through community marketing efforts targeting Shopify entrepreneurs and word-of-mouth. Additionally, we receive referrals from partners such as design and development agencies who frequently work with the same brands we serve,” he says.

Also Read: How cruelty-free, Halal-certified D2C cosmetics brand RADC achieved 4X growth in 2022

In terms of revenue model, Needle expects to have a freemium subscription model as we find that it is a model that our customers are familiar with for products they use frequently.

“We see Needle as a product that brands will use daily as they ideate, plan, and execute marketing campaigns. The pricing for each subscription tier will likely increase with the amount of usage (e.g. the more data points and tools our customers use to connect, the more generative AI features used),” the CEO says.

“In addition to the freemium model, we may also explore other revenue models where we have a more vested interest in the success of our customers. This could involve taking a percentage of the revenue or a share of the uplift we have generated for their businesses. We are open to experimenting with different approaches to ensure incentives are aligned, and we have skin in the game as well.”

As AI becomes increasingly popular across various industries, Needle looks for opportunities that will allow them to help businesses simplify tasks.

“We also aim to assist in areas where setting up or execution requires a skillset not possessed by many of our target audience, such as more technical marketing-based advertising campaigns,” Foroughi says.

“Our current belief is that the companies that will succeed in AI are those that deeply understand their customers, possess extensive and high-quality data and have the agility to adapt to various use cases. We aspire to be one of those companies.”

Also Read: Asa Ren closes US$8.15M financing round to provide D2C DNA tests in Indonesia

What is next for Needle

Recently, Needle has completed an oversubscribed pre-seed funding round of US$1.2 million led by Iterative with the participation of Ethos Fund and Goldbell Financial Services. Notable angel investors, including Rainforest CEO JJ Chai also contributed to the funding round.

“This funding will allow us to make hires in areas of engineering, data science and AI trainers in order to keep improving our product,” Foroughi says.

“Our primary focus for 2023 is to continue refining and enhancing Needle through our early customers. We consider our early customers during this pilot phase as ‘design partners’ with whom we collaborate closely to co-create Needle into the ideal AI marketer that meets the needs of their brands.”

—

Image Credit: Needle

The post How Needle uses AI to help young D2C e-commerce brands stand out amongst the rest appeared first on e27.

Meta, the parent company of Facebook and Instagram, has recently introduced an exciting new contender in the realm of social media – a platform named ‘Threads’. Demonstrating a staggering momentum, Threads has gathered over 60 million registered users in a scant two days since its release.

This extraordinary rate of adoption implies that Threads could potentially become a key influencer in the social media landscape.

Redefining social media landscape and empowering creative entrepreneurs

But what does this mean for ambitious entrepreneurs, small business owners, and freelancers, particularly those operating in creative industries?

Despite being in its early stages, Threads shows promising signs of becoming an effective platform for fast content sharing, encouraging informal dialogues, and increasing brand exposure. Notably, Threads doesn’t currently have a paid advertising feature, which implies that any endorsements or reposts about your business are likely to come across as genuine and authentic.

Adam Mosseri, the Head of Instagram, advocates that content shared on Threads should strive to inspire conversations and forge meaningful connections. This is a tremendous opportunity for businesses to engage with audiences on a more personal and impactful level. 

Adam Mosseri on Twitter

In essence, Threads is an oasis where posts that don’t quite align with your Instagram aesthetic can comfortably reside. Over the past few years, brands may have put in considerable effort to maintain consistency in their Instagram feed and stories.

Also Read: How to grow a global audience by leveraging social media

This commitment may have held them back from sharing organic, unfiltered content due to concerns about messing up the aesthetics of their feeds. However, Threads is set to revolutionise this aspect and encourage individuals or brands to post more freely and authentically!

Here are the current capabilities of Threads

• Post text (up to 500 characters)
• Share images and photos (up to 10)
• Share videos (up to 5 minutes)
• Include outbound links
• Create carousels
• Share .gifs (via the Giphy app)

However, do take note that Threads currently does not support the use of clickable hashtags or offer direct messaging capabilities. With Threads, businesses can swiftly generate content, foster casual dialogues, and secure authentic endorsements, all without the necessity of paid advertising.

It paves the way for sharing unfiltered content, offering a refreshing break from the constraints of meticulously curated aesthetics. As you adapt to the unique features of Threads, you can interact with your customers in novel and compelling ways.

Adapting to the unique opportunities each social media platform presents is crucial for businesses, and I am eager to see how Threads evolves and how it can revolutionise the dynamics of business-customer interactions in the digital landscape. This is a promising time for all businesses, so keep your spirits high and stay ready for new challenges and possibilities!

—

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: Cristobal Herrera-Ulashkevich/EPA, via Shutterstock

The post Threads: Revolutionising social media for creative entrepreneurs appeared first on e27.

In today’s rapidly changing landscape, education companies face unique challenges in accessing traditional sources of financing. As the macro environment experiences downturns in venture and debt capital, education entrepreneurs must explore alternative avenues to secure the necessary funding.

Macro downturn and the need for alternative financing

The education sector, like many others, is intricately tied to the ups and downs of the economy. Last year, global edutech investments dropped 80 per cent from Q1 2022 to Q1 2023. And when economic uncertainty looms, venture and debt capital can become scarce, leaving education companies in a challenging position to secure the necessary funds for growth and innovation.

In times like these, education entrepreneurs must seek out innovative financing solutions that can bridge the gap and ensure the continued progress of the sector.

This need for alternative financing is not unique to education, but it carries particular weight within the industry. Education plays a vital role in society, shaping future generations and driving societal progress. It is during challenging economic times that the importance of education is magnified as individuals seek to upskill, reskill, and invest in their own personal and professional development. 

This surge in demand for education puts additional strain on education companies to meet the needs of learners while grappling with the limitations of traditional financing options.

Also Read: Pure ideas with no executions to prove do not attract savvy investors: Shao-Ning Huang of AngelCentral

Counter-cyclical nature of education

One key advantage of the education industry is its counter-cyclical nature, which sets it apart from many other sectors. While economic conditions may fluctuate, the demand for education remains consistently high.

In fact, during times of economic downturn, individuals often prioritise upskilling, reskilling, or pursuing further education as a means to enhance their employability and navigate the challenging job market. This surge in student demand presents a unique opportunity for education companies to tap into new markets and cater to the growing needs of learners.

Moreover, the surge in student demand during economic downturns presents an opportunity for education companies to expand their offerings and meet the evolving needs of learners. By embracing new technology and innovative learning models, education companies can deliver personalised and adaptive learning experiences that resonate with students.

This includes leveraging AI and machine learning to enhance content delivery, incorporating gamification elements to boost engagement, and harnessing data analytics to gain valuable insights into student performance and preferences. 

The combination of crypto-enabled financing and innovative educational approaches positions education companies at the forefront of change, ensuring their relevance and competitiveness in an ever-evolving landscape.

Emerging economies and the education boom

Emerging economies, including Africa, Latin America, and Southeast Asia, are witnessing a remarkable boom in the demand for quality education. As middle-class populations rise and the importance of education becomes increasingly recognised, these regions offer a fertile ground for education companies to thrive.

However, one of the key obstacles faced by entrepreneurs in these markets is the limited access to traditional financing options. Local financial systems may be underdeveloped or lack the necessary infrastructure to support the growth and innovation of education companies.

Also Read: New research report: The nexus between elite university education and startup funding

By leveraging the decentralised and borderless nature of cryptocurrency, education entrepreneurs in emerging economies can unlock new avenues for financing their ventures. Cryptocurrency provides a democratised and inclusive financial ecosystem, allowing entrepreneurs to raise capital from a global pool of investors without the traditional barriers associated with geographical limitations or stringent regulatory requirements.

Unconventional paths forward

Partnerships like Open Campus, an education protocol supported by Animoca, Binance, GEMs Education and others, represent a transformative step in addressing the challenges of traditional financing in the education sector.

Moreover, crypto-based financing models offer greater accessibility and transparency, bypassing the need for complex and often restrictive financial intermediaries. This opens up opportunities for education companies to directly connect with investors, showcase their vision and impact, and secure the necessary funding to fuel their growth. 

By embracing cryptocurrency and blockchain technology, education companies can tap into global investors, access new funding sources, and drive the growth and impact of their initiatives. With the support of industry leaders and the application of innovative financing models, the education sector can foster collaboration, drive innovation, and ensure the availability of quality education for all.

—

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

The image featured in the article has been generated utilising an AI-powered tool

The post Breaking barriers: How crypto is disrupting education funding appeared first on e27.

Southeast Asia’s tech startups attracted 71 per cent less funding in the first half (January-June) of 2023 compared to the same period last year, as per the latest report released by market intelligence platform Tracxn.

The decline was primarily driven by a 72 per cent drop in late-stage investments, Tracxn said in its SEA Tech Semi-Annual Funding Report.

Funding into the tech space in H1 2023 dropped to US$2.3 billion from US$8 billion in H1 2022 (US$1.15 in Q1 2023 and US$1.17 billion in Q2). The US$100 million+ funding rounds also dropped to six in H1 2023 from 18 in the same period last year.

H1 2023 is the least funded half-year since 2020. After a peak in 2021, there has been a steady decline; investments fell by 39 per cent in 2022 from 2021, primarily due to the rising interest rates and the current macroeconomic environment.

Also Read: eFishery banks US$200M, targets to engage 1M+ aquaculture ponds by 2025

Fintech, enterprise applications, and retail were the top-performing segments in H1 2023. However, these segments witnessed a drop in funding in 2023 compared to H2 2022.

The fintech sector raised US$926 million in H1 2023, contributing almost 40 per cent of the funds raised by the SEA tech startup ecosystem during this period.

Two segments which observed upticks in funding are auto-tech and insurtech. Auto-tech funding grew from US$23.6 million in H2 2022 to US$317 million in H1 2023, while insurtech rose from US$98.7 million to US$262 million.

Only one company, eFishery, entered the unicorn club in H1 2023, compared with six new unicorns in H1 2022.

As for acquisitions, H1 2023 saw 29 deals compared to 43 in H2 2022 and 69 in H1 2022. Five companies from this space went public in H1 2023 as against just one in H1 2022.

In the SEA region, Singapore, Jakarta, and Petaling Jaya were the top-funded cities in H1 2023. Companies in Singapore attracted investments worth US$1.2 billion, while those in Jakarta and Petaling Jaya raised US$378 million and US$202 million, respectively.

East Ventures, SEEDS Capital, and Y Combinator were the most active investors in the SEA tech space in H1 2023. Y Combinator, East Ventures, and 500 Global were the top seed investors, while Gobi Partners, SMDV, and Peak XV Partners were the top early-stage investors.

In terms of late-stage investments, SoftBank, Avataar Ventures, and Prosperity7 Ventures were the top late-stage investors.

—

Copyright: dragonimages

The post H1 2023 is the least funded half-year in SEA since 2020: Tracxn appeared first on e27.

CreativesAtWork was founded in 2012 by a pair of sisters – Jayce and Fanny Tham – who were driven by their aspirations to give creative talents a platform to showcase their work and to provide every freelancer in Asia the opportunity to gain greater control of their career paths.

“We started CreativesAtWork with the intention of helping our friends find jobs. Since then, our vision has grown. We want to help talented individuals find their rightful position in the world and assist them in scaling their businesses to reach the global stage. It is time for Asian talents to shine!”

An unwavering belief in freelancing as a way of life

In the beginning, the Tham sisters faced numerous uncertainties. The 2010s were a time of disruption, where emerging ideas and technologies had the potential to disrupt or transform how people work, live, and engage in leisure activities. The pragmatic Singaporeans in them were prepared to return to corporate life if their endeavour did not prevail.

However, anecdotes of freelancers, who gave up their passions in exchange for unfulfilling jobs to make ends meet, constantly weighed on Jayce’s mind. This gave her the impetus to persevere through challenges and redefine CreativesAtWork to help freelancers transform their passions into profitable ventures.

The duo’s unwavering belief in freelancing as a way of life, alongside the accomplishments of their network of dedicated freelancers, propelled CreativesAtWork to success. Since then, they have never looked back.

The power of collaboration

In the first decade of business, the Tham sisters dedicated their efforts to securing employment opportunities for freelancers. However, their focus has since shifted towards empowering freelancers to establish and expand their own businesses instead.

“One plus one need not always equal two. When freelancers combine their expertise, knowledge, and experience, they can create three, four, or even 10 times the impact.”

With the conviction that freelancers can achieve greater outcomes when they combine their expertise, CreativesAtWork launched Freelancer Nation in 2023 to provide a physical space for freelancers to collaborate and stay updated on trends, mentorship opportunities, and production facilities.

Also Read: Is Singapore 5G ready?

Additionally, the company shifted its Freelancing Bootcamp to an e-Learning portal to enhance access to resources for freelancers from other industries. Through these initiatives, the sisters aimed to foster a strong community of freelancers and establish networks that maximise business potential for them.

Training and development

Deepening Jayce and Fanny’s belief in supporting the freelance community to reach their full potential, CreativesAtWork collaborated with government agencies to shape the future of the workforce by participating in workgroups and citizen panel discussions. It also helped to professionalise the industry through training opportunities, especially when there was not much support for freelancers.

In May 2023, CreativesAtWork partnered with Lee Kuan Yew School of Public Policy to organise a five-day training session, named Digital Skills for Own-Account Workers Workshop, to empower participants with the essential digital skills needed to keep up with technology trends.

To provide funding support for freelancers, the company introduced BRIDGE to bring creative storytelling to life through collaboration with local businesses. Over 200 freelancers participated in the initiative and gained additional skillsets to advance their careers. A total of 30 local companies also benefitted from the services provided by these freelancers.

Embracing the future of the workforce

“In today’s competitive hiring landscape, it is crucial to recognise the value of freelancers. Gone are the days of chasing academic qualifications and seeking lifelong employment because traditional norms have shifted. Talented individuals are no longer limited to traditional employment opportunities but are exploring alternative paths like freelancing.”

In Jayce’s view, the traditional norms for work have shifted, and many individuals are increasingly looking for alternative career paths, such as freelancing. This will have a significant impact on businesses across other industries because hiring policies and practices will be affected by the shift. Hence, it will be beneficial for companies to consider freelancers as part of their hiring strategy.

In the next five years, Jayce also anticipates the following developments in the creative industry:

• Increase in demand for digital and virtual experiences: The pandemic propelled the adoption of digital and virtual experiences. Freelancers will increasingly be expected to create immersive and engaging digital experiences for clients.
• Integration of artificial intelligence (AI) and machine learning: AI and machine learning are progressively integrated into content creation and marketing, shaping the creative process. As such, freelancers must stay informed about technology trends to keep pace with the dynamic business environment. Similarly, businesses in other industries can apply the same principle to adapt to the evolving business landscape. By keeping up with relevant advancements, companies can improve efficiency to meet customers’ needs.
• Greater emphasis on sustainability: As consumers grow more environmentally conscious, there is rising pressure on businesses to adopt sustainable practices. Hence, freelancers may need to assist clients in developing environmentally responsible messaging and campaigns to contribute positively to the environment.
• Continued growth of remote work: The global health crisis accelerated the growth of remote work, and this trend is expected to continue. Although remote working is not new to freelancers, embracing remote work and investing in the right tools – to support a remote workforce – are values that freelancers can help their clients with.

Key takeaways from her entrepreneurship journey

“Running a business is a challenging endeavour, and there is not a single set of parameters that can guarantee success. It is a combination of various qualities, skills, and life experiences that contribute to becoming a successful leader.”

Jayce believes there are many factors that contribute to the success of a business leader. The following are some leadership principles that she holds dear:

Building the right teams

Hiring passionate individuals in suitable roles is paramount for business success. Hence, it is crucial to assemble the right team of talents who align with a company’s vision and values.

In the early days of CreativesAtWork, being relatively new to the industry, the Tham sisters placed their trust in freelancers to complete a video project for a prominent client. They were unaware of the freelancers’ unprofessionalism, and unbeknownst to them, the freelancers took shortcuts, resulting in a failure to deliver satisfactory work.

Consequently, Jayce and Fanny had to salvage the project on their own and faced the challenge of managing a dissatisfied client. Thus, they decided to bring in a new team of freelancers and worked hard to turn the situation around.

Also Read: Rewriting the creation process of ad creatives using generative AI

This incident prompted the duo to adopt a more rigorous approach to future onboarding and selection of freelancers. They recognised that regardless of how impressive a freelancer’s portfolio was, their attitude and professionalism should be given equal consideration in determining whether they should be engaged for collaboration.

Developing strong interpersonal skills and personal branding

While Jayce’s team members manage the day-to-day operations of CreativesAtWork, she is focused on cultivating trust and nurturing long-term partnerships with clients. To achieve this, she emphasised the importance of possessing strong interpersonal skills and maintaining a personal brand founded on integrity and reliability.

Jayce vividly recalled an incident when a client had to contact her because a previous agency failed to deliver satisfactory work. Consequently, the client reached out to CreativesAtWork for assistance.

Patchwork projects can be challenging and risky, but this incident showed the trust that clients have in CreativesAtWork. This trust ensures that clients will turn to the team at CreativesAtWork whenever assistance is required.

Staying resilient

When things go awry, it is important for business leaders to stay true to themselves, have faith in their abilities, and trust the process. Jayce reminds herself that there is a purpose behind everything and advises aspiring entrepreneurs to be grateful for these experiences, whether they occur sooner or later.

She is also of the view that business leaders should actively encourage resilience among their team members and view failures as learning opportunities to foster a culture of growth mindset in the company. “By prioritising these principles, a business leader can create a positive work environment that attracts top talent, fosters productivity, and drives long-term success,” she explained.

Maintaining an open mind about technology adoption

Jayce advises aspiring entrepreneurs to adopt digital tools to streamline workflow and enhance productivity in business. She added that technology has improved accuracy, communication, and data analysis at CreativesAtWork, freeing up time for her to focus on strategic initiatives to grow the company.

Stakeholders of CreativesAtWork are also encouraged to participate in its innovation journey. For instance, the company organised Thriving Singapore, an immersive virtual exhibition and a series of online workshops which gathered local artists to display their work and brought the freelancer community together to explore Singapore’s culture.

It also launched STOREYS, a storytelling movement which harnessed the power of video and social media to shed light on issues that matter to Singaporeans. Presently, CreativesAtWork is building its first AI-powered application platform, EXECUTE, which can provide clients with round-the-clock access to a talented pool of freelancers.

Enhancing capabilities by tapping on government support

While running a business can be challenging, there are funding and support programmes by various government agencies which are available to a wide range of companies in Singapore. Entrepreneurs are resourceful, and Jayce is no different. She knew of some support programmes and utilised those that were relevant to CreativesAtWork.

Enterprise development grant

Jayce encourages aspiring business leaders to explore and tap into government resources, such as the Enterprise Development Grant, which supports projects that help companies upgrade, innovate, grow, and transform.

Market readiness assistant grant

CreativesAtWork is in the midst of expansion, with its first global office in the United States. Jayce applied for the Market Readiness Assistance Grant, which helped CreativesAtWork in its international expansion by defraying the costs of overseas market promotion, business development, and set-up.

The United States is CreativesAtWork’s first overseas office as the country is home to the world’s largest economy with an abundance of market opportunities. By establishing a presence in the United States, CreativesAtWork can gain access to a wide customer base, opening new streams of revenue.

In addition, freelancers at CreativesAtWork will get the chance to gain hands-on experience by working on international projects, enhancing their skills and broadening their professional horizons on the global stage.

This is a multi-part business profile series by IndSights Research featuring accomplished business leaders from different industries in Singapore. Through this initiative, we hope to encourage business leaders to implement best practices in their companies to promote growth and development.

—

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: CreativesAtWork

The post Singapore firm empowers freelancers in Asia to transform passions into profitable ventures appeared first on e27.

Indonesia-based KarirLab today announced that it has secured an undisclosed pre-seed funding round led by Alpha JWC Ventures and M Venture Partners.

In a press statement, the company said that the funding round will enable KarirLab to accelerate its product development, expand its team, and establish strategic partnerships with leading universities and employers.

The funding will also fuel KarirLab’s platform enhancement, ensuring seamless student and employer experience to cater to the evolving needs of the job market.

“With this pre-seed round, KarirLab is positioned to fulfil our potential in partnering with universities and employers at scale. We are excited to empower the next generation of young professionals and revolutionise career services and management in Indonesia to propel more quality graduates and career opportunities,” said Tessa Saraswati, Co-Founder and CEO of KarirLab.

KarirLab is an online platform that connects students and campuses with hiring employers.

Also Read: A paradigm shift needed: Hiring within the tech startup ecosystem

The company is founded by Tessa Saraswati, Stephanus Wicardo, and William Surya Wijaya, who collectively believes that every student of every background should have access and resources to help them build a solid foundation in navigating the job market, such as having an effective resume and professional branding, as early as possible.

It bridges the gap between the students, universities, and employers ecosystem by providing a comprehensive and streamlined career development and management platform.

Its products include individual profile evaluation, an ATS-friendly resume builder, a curated job vacancy portal, and talent management services.

KarirLab said that, as of the first half of 2023, it has clocked in hundreds of thousands of users and has posted thousands of jobs from hundreds of different organisations across Indonesia.

It has hosted live and virtual career events in collaboration with universities with more than 20,000 participating students combined.

The startup was incubated at Yale University in 2021 and is an active supporter of Indonesia’s Ministry of Education & Culture’s Kampus Merdeka and the Ministry of Manpower’s TalentHub programme.

—

Image Credit: KarirLab

The post KarirLab secures pre-seed funding round to help fresh graduates navigate the job market appeared first on e27.