I’ve always been deeply fascinated by psychology — the scientific exploration of the human mind and its influence on behaviour. This fascination also encompasses affective computing, a field that merges insights from computer science, psychology, and cognitive science.

The increasing burden of mental health issues, along with advancements in technology and a deeper understanding of the biopsychosocial model of health, has spurred interdisciplinary research to enhance our understanding of mental health disorders, which have profound effects on our communities globally.

The global mental health landscape

According to the World Health Organisation:

• Mental, neurological, and substance use disorders account for over 10 per cent of the global disease burden (approximately 280 million people have depression globally)
• In countries with low to middle-income levels, a staggering 85 per cent of individuals suffering from mental health conditions go untreated.
• The lost productivity resulting from depression and anxiety, two of the most common mental disorders, costs the global economy US$1 trillion each year. 

The China Brain Project, a 15-year project targeting major scientific discovery and technological development for early diagnosis and intervention of brain diseases and brain-machine intelligence technology by 2030, estimates that if no effective treatments for brain diseases emerge in the coming decades, the global medical care system is likely to collapse by 2050.

Also Read: Strengthening mental healthcare in Asia through local data that enhances efficacy

This intersection where technology meets healthcare is where its disruptive nature transforms into a lifeline for humanity. Technological advancements, particularly in AI, neuroscience, and psychology, are not just reshaping industries; they’re pioneering the development of innovative diagnostic tools and treatment methods for brain diseases. These tools include obtaining data on emotions at scale through apps to mapping and coding out brain activity using AI devices.

My journey and explorations

As someone who has worked in high-growth tech startups for over a decade, my journey mirrors this larger narrative of technology’s capacity to both disrupt and heal. Growing a tech startup is all about relentless execution, and it came at the expense of my mental health.

Despite the constant challenges, this experience has led me on a lifelong path of personal growth and reinforced my commitment to contributing to solving some of humanity’s global mental health burden with technologically sustainable solutions, both personally and professionally.

Beyond my work in tech startups, I embarked on both an academic and practicum path by pursuing a Professional Diploma in Psychotherapy, Counseling and Positive Psychology with The School of Positive Psychology (TSPP), taking night classes every weeknight after work for two years.

Deep down, I want to explore how I can consciously evolve into the best version of myself as a human being and how people can engage with me on a new level of openness and emotional vulnerability with my personal growth work and mental health advocacy through technology. 

During the COVID-19 lockdown, I co-founded a startup called Ministry For Good, which seeks to raise awareness of mental health issues and how technology can be used to improve access to mental health care and help scale other social impact causes. Our first project was raising awareness of the symptoms of dementia and exploring how AR/VR technology can help with reminiscence therapy.

In the broader spectrum of my tech roles, I became a super user of digital mental health solutions, testing out current product offerings in the market on myself, which extended to generative AI solutions. Although generative AI models cannot experience emotion as humans do, these models can be programmed to recognise emotional cues from text, speech, or facial expressions and adjust their responses accordingly, mimicking how emotions affect human thought and behaviour.

This is often used in fields like affective computing, where AI is designed to detect and respond to human emotions, enabling an empathetic response from a chatbot to potential early detection of mental health issues.

Also Read: From chatbots to therapists: How AI break ground in bridging the mental health care divide

Rana El Kaliouby, CEO and Co-founder of Affectiva, an emotion AI startup, writes in her book Girl Decoded, “I was also struck by the vital role of emotion in enabling people to make sound decisions. At the time, I believed that the best decisions were based on cold, calculated logic that didn’t let feelings get in the way. In fact, as I learned, decades of neuroscience showed just the opposite to be true. Your “feelings” don’t get in the way. They improve your thought processes.”

AI in mental health: Enriching emotional intelligence

This understanding underscores the potential for AI to not just automate tasks but to enrich our emotional intelligence. In this light, digital mental health solutions emerge as conduits between the analytical capabilities of AI and the nuanced realm of human emotions, fostering an environment where technology supports and enhances mental well-being.

I envision a collaborative future where digital mental health solutions evolve to become more empathetic, advanced, and interactive, revolutionising mental health care. In the future, mental health professionals leverage the efficiency of AI in routine tasks such as diagnostics, monitoring, and research, thereby enhancing their productivity.

This allows them to dedicate more time to activities that truly set them apart from machines: their emotional intelligence, creativity, and deep interpersonal connections. Meanwhile, individuals can engage with AI-powered tools like chatbots or virtual assistants, which offer simulated scenarios to encourage positive thought patterns and behaviours.

However, the integration of AI into mental health care requires ethical, practical, and clinical considerations. It is crucial that governments intervene with well-thought-out mental health policies that ensure the ethical application of AI while fostering innovation, ensuring a balance that benefits all stakeholders in the mental health ecosystem.

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The researchers estimate that the world’s emissions of carbon dioxide will exceed 40 billion tons in 2023, including nearly 37 billion tons from fossil fuels. Overall emissions are up 1.1 per cent compared to 2022 levels and 1.5 per cent compared to pre-pandemic levels, continuing a 10-year plateau as reported by the Global Carbon Project.

To tackle the ongoing climate crises, a Singapore-based climate-tech startup, Carbon Balance, is aiding e-commerce companies by leveraging technology for a balanced approach to business growth and sustainability. The company focuses on cutting emissions and funding initiatives that absorb more carbon than produced. The goal is to make sustainability accessible for businesses and consumers, fostering a more responsible and environmentally conscious digital marketplace.

Carbon Balance’s tech-driven approach to climate crises

Carbon Balance aims to transform the e-commerce sector by aiding brands in measuring, reducing, and offsetting their carbon footprint. Employing an AI-driven approach, the company estimates the carbon footprint of e-commerce transactions by analysing product details. It provides free integration with platforms such as Shopify and WooCommerce, simplifying online store setup in under five minutes and eliminating manual data input for brands.

Upon integration, consumers at the checkout page receive a transparent insight into the carbon footprint linked to their purchases. A quick glance allows them to understand the environmental impact and, with a single click, choose to offset this footprint.

“My journey to founding Carbon Balance combines my computer science background with a deep concern for contrasting environmental attitudes. I noticed a clear divide: on one side, a group indifferent to their ecological footprint focused solely on consumption and profit; on the other, eco-extremists advocating for impractical bans on essentials like oil, plastic, and meat without considering the economic implications. Believing in a more pragmatic approach, Carbon Balance was born,” said Homam Alghorani, Co-Founder and Chief Executive Officer.

Alghorani is joined in this mission by his co-founders, Vikash Bengani and, later, James Connell (now advisor), who shared similar concerns about climate change and its current approaches.

Also Read: Why these startups focus on informal plastic waste workers in the fight against climate crisis

While many SMEs in the region are just beginning to recognise the importance of sustainability, Carbon Balance stands out by targeting larger corporations and empowering SMEs to embark on their sustainability journey amid increasing governmental push towards regulations and ESG requirements.

“Starting with e-commerce, we plan to broaden our reach across related sectors like logistics, delivery, shipping, packaging, and eventually into hospitality and events. We aim to make sustainability accessible and practical for businesses of all sizes,” said Alghorani.

The primary revenue stream for the company is a commission model, charging a 20-30 per cent fee on carbon offsets made through its platform. In the future, Carbon Balance plans to offer advanced features and a comprehensive footprint calculator for logistics and other sectors, transitioning to a subscription-based model for a steady revenue stream and continuous service enhancements.

“The combination of these revenue streams allows us to invest in research and development, ensuring we stay at the forefront of innovation in the climate tech sector,” said Alghorani.

Overcoming challenges in client focus and strategy

At Carbon Balance, the primary target clients are brands in the lifestyle consumer product sector, specifically those with monthly sales surpassing US$50,000 and a consumer base predominantly consisting of Gen Z and Millennials.

“Our solution is uniquely designed to resonate with this demographic. By integrating Carbon Balance, brands enable their consumers to participate actively in environmental sustainability. Each purchase becomes more than a transaction — it becomes a step towards a greener future. This feature particularly appeals to younger consumers who are increasingly conscious of their ecological impact and the ethical practices of the brands they support,” said Alghorani.

Also Read: Founders are pessimistic about Philippines’ funding climate in 2024: study

Addressing challenges in the climate tech sector, Alghorani stated, “Getting into the climate tech sector in Southeast Asia has brought its share of challenges, particularly regarding SME awareness. Many SMEs in the region are unfamiliar with sustainability-focused products like ours. They often prioritise immediate operational needs over sustainability and typically adopt eco-friendly practices only when they lead to cost savings.”

To tackle these challenges, Carbon Balance has adopted a strategic two-pronged approach. First, the company has ensured its solution is easy to integrate and free, removing barriers to adoption, which is crucial for businesses new to sustainability or reluctant to adopt new technologies. Second, Carbon Balance is dedicated to educating these businesses on the value of sustainability, extending beyond environmental benefits to emphasise how sustainable practices can enhance their business model.

Funding journey and future plans

Carbon Balance secured a pre-seed round from Antler, whose support has been crucial in the early stages. The company is currently in the process of raising its seed round.

“Our aim with this funding is ambitious yet clear — we intend to offset 34,000 tonnes of CO2 and remove 800 tonnes of plastic while generating US$1 million in revenue by the end of 2024. To reach these goals, we’re looking for the right venture capital institute for our seed round or an angel investor who resonates with our mission and can provide the necessary boost to enter the seed round confidently,” Alghorani.

The company’s long-term vision is centred on providing easy-to-implement sustainability options for businesses of all sizes.

“In the coming years, we aim to expand our reach across various industries, enhancing our technological capabilities to support a wider range of businesses in their sustainability journey. A key milestone we’re targeting is the widespread adoption of our integrations, leading to a measurable impact on global carbon reduction efforts,” said Alghorani.

Carbon Balance’s approach to e-commerce sustainability, coupled with its strategic vision and commitment to addressing challenges, positions it as a key player in the climate tech sector.

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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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Image credit: Carbon Balance

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Dear reader,

The Competition and Consumer Commission of Singapore (CCCS) has initiated a phase two review of Grab’s proposed acquisition of Trans-cab, signalling a deepening scrutiny into potential antitrust issues.

The move comes after the regulator rejected Grab’s initial commitments to address competition concerns raised during the phase one review. The CCCS highlighted that the proposed actions did not sufficiently address the risk of Grab leveraging its ownership of Trans-cab to influence driver behaviour in favour of its ride-hailing platform over competitors. The watchdog expressed dissatisfaction with the proposed two-year commitment duration, deeming it insufficient for addressing long-term market structure changes.

Additionally, CCCS found Grab’s self-policing monitoring mechanism lacking. The in-depth review, which commenced on January 25, allows Grab to submit revised commitments. The acquisition, announced in July 2023, would provide Grab control over 2,200 taxis and 300 private-hire vehicles. CCCS had raised competition concerns in October, citing potential barriers for Grab’s competitors.

This intensified regulatory scrutiny echoes past antitrust challenges surrounding Grab’s acquisition of Uber’s Southeast Asian business in 2018, reinforcing the regulator’s commitment to fair market competition.

Editor,
Sainul.

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NEWS ARTICLES

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Bytedance exec takes the helm at Tokopedia as merger closes
Jakarta-based ByteDance executive Vonny Ernita Susamto is now the e-commerce company’s president director; Susamto has been part of ByteDance’s category management team since 2021.

India’s Ugro Capital gets US$30M from ADB to bolster SME business loans
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Hukumonline bags Series B funds to develop legal genAI tool
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Tesla sued for allegedly mishandling hazardous waste in California for years
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India’s central bank discusses more penalties on Paytm Payments Bank
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Antler invests US$5.1M in 37 Southeast Asian startups
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Pintar raises US$3M to help workers break ‘middle-income trap’
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Silverstrand backs US water tech startup Porifera
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Zora Health gets US$740K to launch its one-stop fertility care platform
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CEO states enhancing “sense of crisis” is primary goal for ByteDance
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AI in mobile advertising: Transforming relevance, efficiency, and immersive experiences
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X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

The post Ecosystem Roundup: Grab-Trans-cab deal is under further scrutiny; GoTo-TikTok Shop Indonesia merger complete appeared first on e27.

Pixelmon, a decentralised web3 gaming IP company, has raised a seed investment of US$8 million from investors, including Animoca Brands, Delphi Ventures, Amber Group and Bing Ventures.

Bitscale Capital, Cypher Capital, Foresight Ventures, Mechanism Capital, Sfermion, Spartan Labs, and VistaLabs also participated.

The startup will use the funding to continue developing its differentiated portfolio of casual and mid-core games.

Also Read: How AI and blockchain collaborate for a transparent Web3 future

Founded by Giulio Xiloyannis, Pixelmon delivers ownership of IP and in-game assets through its fractionalised IP ecosystem Mon Protocol. Developed by LiquidX Studios, Pixelmon features mysterious creatures called Pixelmon. Taking place in the mythical world of Nova Thera, Trainers — the creature companions — must lead their team of Pixelmon to victory. Pixelmon incentivises players with NFTs with fractional IP benefits, where holders of these NFTs have ownership rights over a portion of an item’s or a character’s IP.

The funding follows the launch of Kevin the Adventurer (KTA), Pixelmon’s first hypercasual game. A second hypercasual game, PixelPals, which features pet and habitat management blended with trading card mechanics, is set to launch on Mantle this first quarter of 2024.

Pixelmon’s regular hypercasual releases have kept the community engaged while the team focuses on its major release for the core Pixelmon IP, including a rebuild of its free-to-play desktop title, Arena, to introduce survival-based horde gameplay, new Pixelmon abilities, and core game loops, targeting a 2024 release.

Further, Hunting Grounds, an open-world adventure game with RPG elements and PvP autobattler tournaments, is set for an open beta in 2024 and a full release in early 2025, with three distinct modes: combat, social hub/metaverse, and exploration.

Also Read: How to launch collaborations that grow communities: A guide for Web3 founders

Pixelmon plans to grow its decentralised IP across verticals, including merchandise, trading card games (TCG), animated series, comic books, and more, via franchises, sublicenses and joint ventures.

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X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

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On Wednesday, Indonesian digital ecosystem giant GoTo Group announced the completion of its merger with TikTok Indonesia, the e-commerce arm of the global entertainment platform TikTok. As part of the deal, TikTok will invest over US$1.5 billion in the enlarged entity over time to provide future funding the business requires without additional dilution to GoTo.

This was the latest update on the problem that TikTok has been facing in Indonesia since October last year, when the government abruptly banned online sales through social media channels, including TikTok Shop. The ban was made to protect small- and medium-sized businesses in the country, which is said to be threatened by the influx of cheap products from China.

While the more nationalistic amongst us might welcome this with excitement, some of us might wonder about many things.

There are indeed several things to worry about.

In an opinion piece, TEMPO points out the familial relations between GoTo shareholder Garibaldi Thohir and State-Owned Enterprises Minister Erick Thohir.

Also Read: Ecosystem Roundup: Grab-Trans-cab deal is under further scrutiny; GoTo-TikTok Shop Indonesia merger complete

Apart from that, there is also a concern about consumer data protection.

“In addition to the matter of protection of small and medium enterprises not yet being clear, TikTok Shop’s transactions with Tokopedia could lead to a problem with consumer data protection. The government must consider the warning signs from several European nations that previously banned TikTok Shop from operating because of doubts about its data security system,” TEMPO writes.

“There must be clear regulations concerning this because there have been many leaks of personal data using various fraudulent methods. The ease of social media transactions must not be allowed to cause problems for people.”

All of these are certainly worrying enough. But personally, I would like to get back to the basics: What does this mean for the Indonesian e-commerce landscape in general?

Who is the last one standing?

The easiest answer to that question would be TikTok, GoTo, and all of its shareholders. As elaborated by The LowDown, the deal is a masterstroke on ByteDance’s part.

“By taking over Tokopedia at no cost (to the contrary, GoTo pays TikTok US$340 million), TikTok Shop will gain full operational control, legitimacy of operating e-commerce and some useful local allies,” it wrote.

Also Read: Merchants selling via TikTok could be harming Indonesian economy: AC Ventures

As for Tokopedia, “This deal will save the company from the seemingly irreversible decline until now … Tokopedia will remain a going concern, and probably will thrive with TikTok now as the biggest shareholder.”

We are clear about TikTok and Tokopedia. But what about their main competition in Indonesia, Shopee?

This deal is certainly a major blow for the company, and it would be interesting to see what strategy it is going to come up next. There is no sign of any upcoming merger or acquisition on the horizon for Shopee; on the other hand, we also do not see them returning to the old days of burning cash to acquire customers.

Indonesian customers are also expecting different things from the existing e-commerce players today. Back in the day, it was all about accessibility. Can I pay using cash? How soon can this be delivered? But as Indonesians grow more accustomed to digital payments, they begin to expect something different.

If anything, Shoppe (and SEA in general) need to work from the different lines of business that they have in order to win Indonesia.

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Image Credit: Achmad Al Fadhli on Unsplash

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