In Malaysia, electric vehicle (EV) charging stations are limited, and the coverage areas are narrow, causing uncertainties for most potential EV buyers. James Goh, a techie and founder of Raytech Window Tinting and Caricarz, and several individuals deeply entrenched in the automotive and tech sectors sensed a massive opportunity in this space and launched ChargeSini.

Founded in 2022, ChargeSini provides smart EV charging stations across Malaysia. It offers a wide selection of fully customisable EV chargers ranging from AC to DC, with charging rates from 22kW up to 180kW. It also provides features like speedy connectivity and smart charging capabilities, all integrated with a cloud platform to provide users with insights and control.

Also Read: Is ‘shadow charging’ the answer to the many challenges faced by existing EV charging stations?

The charging time for an AC charger can vary depending on the vehicle’s battery capacity, but it generally takes 4-8 hours to charge an EV fully using an AC charger. DC chargers can charge an EV up to 80 per cent in 20-30 minutes.

Users can also get charging points installed at home.

A complete EV charging ecosystem

“We have a complete EV charging ecosystem: a fully integrated solution encompassing advanced software and hardware for EV charging. We are the only charging point operator (CPO) with features like OCPP (open charge point protocol) parking locks to prevent charging bays hogging issues and advanced reservation systems (booking the charging bays 30 mins in advance by ChargeSini apps). We also have our in-app wallet to provide a smoother transaction for users to charge their EVs and offer up to 10 per cent extra EV charging credits for ChargeSini e-wallet top-ups,” explained Goh.

Since installing its first charge point in October 2022, ChargeSini claims to have established 420 stations across Malaysia.

The company earns money by charging service fees (levied on EV owners utilising its charging stations), system integration fees, and software surcharges, as well as by selling charging equipment and hardware to clients who wish to install their own charging stations.

In addition, it generates revenues from carbon credits. “We recognise the critical role of CPOs in mitigating carbon emissions and advancing green mobility solutions. To actively reduce our environmental footprint, we have implemented several key initiatives, such as renewable energy integration (such as solar power), energy efficiency measures (dynamic load system to optimise power consumption), sustainable materials and practices (deployment of solar lighting systems in its charging station), and carbon offsetting programmes,” he elaborated.

ChargeSini has formed joint venture (JV) partnerships with hotel networks, shopping malls, and condominiums, such as Lotus, Mydin, Giant Malls, WB Land, HCK Capital Group, Intercontinental Hotel Group, and many different city councils in Malaysia to deploy its solutions.

“The JV model offers zero capital expenditure for our partners, covering the charging machines costs, charger installations, wiring, insurance, software, license and operational costs. Our partners benefit from a hassle-free arrangement where they aren’t required to make significant upfront investments. Instead, they only need to allocate parking bays to us, which we then convert into charging bays quickly and easily,” Goh said.

Also Read: Oyika revolutionises e-motorbikes in SEA with innovative power subscription plans and battery-swap stations

ChargeSini is currently working on new features to provide an enhanced user experience for EV owners utilising its charging stations. They include integrating car onboard systems, e-wallet integration for flexible payment methods and location roaming with other charging point operators in Southeast Asia.

Foraying into international markets

Recently, it forayed into international markets with a pilot station deployment in Medan, Indonesia. Building on this pilot project, it aims to leverage its partner network and market insights to scale its presence across Indonesia and other Southeast Asian nations.

“In countries like Malaysia, Indonesia, and Thailand, the demand for sustainable transportation is escalating, and ChargeSini is strategically positioned to cater to this increasing need,” Goh added.

ChargeSini has so far raised RM5.58 million (US$117,000) from 74 investors via the equity crowdfunding (ECF) platform pitchIN and is currently raising a Series A round.

“We seek VC or PE investors to support our growth and expansion plans. The money will be used to expand into strategic areas, scale the business, and develop DC charging infrastructure,” Goh said.

The emergence of ChargeSini in Malaysia’s EV market signifies a pivotal shift towards sustainable transportation solutions. With a comprehensive ecosystem encompassing cutting-edge technology, smart features, and strategic partnerships, ChargeSini addresses the pressing need for reliable and accessible EV charging infrastructure.

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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.

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The Philippines is experiencing a surge in demand for skilled software developers, prompting companies to devise innovative strategies to attract top talent in this competitive landscape.

Data released by the Philippine Statistics Authority in September reveals that software engineers are among the highest-paid professionals in the country, second only to pilots.

This high demand is further corroborated by market research firm IDC, which reported that companies in the region are struggling to find tech talent, with over half of the respondents citing a shortage of software developers and similar roles.

Strategies and emerging trends

In response to this talent gap, some companies are exploring the potential of artificial intelligence (AI) to replace or augment certain tasks traditionally performed by human software engineers — but even so, demand for exceptional tech talent remains strong.

For back-end development, companies typically seek candidates proficient in popular programming languages such as Java, PHP, and C#. Front-end development, on the other hand, requires expertise in standard technologies like HTML, CSS, JavaScript, ReactJS, and similar tools.

An emerging trend is the growing demand for full-stack engineers who can handle both front-end and back-end aspects of web application development.

One tech stack we’ve seen gaining traction is Kotlin for back-end applications in conjunction with the Ktor framework. While Kotlin may not yet be widely adopted among Filipino programmers, its rapid growth suggests that it can be readily learned on the job, especially in companies that offer training programmes.

Also Read: AI, the era of the 1-person unicorn (and massive job losses)

Cebu is emerging as a thriving tech hub in the Philippines, fueled by the surging demand for skilled software developers, with the city presenting an ideal location for overseas startups and technology companies seeking to expand into the country.

For recent graduates embarking on their careers, Cebu offers a compelling choice, providing a more affordable lifestyle, reduced traffic congestion, and a more relaxed pace compared to the hectic dynamism of Manila.

Additionally, despite these lifestyle advantages, Cebu doesn’t compromise on diverse job opportunities in the tech sector.

Having witnessed the city’s transformation from a centre of business process outsourcing (BPO) and call centres to a hub for in-house software development roles, it has been gratifying to observe the evolution of Cebu’s tech landscape.

The role of education and future outlook

The Philippines’ education sector is also keeping pace with the industry’s requirements by introducing programming exposure for young minds still in school. Many educational institutions are now offering updated modules equipped with the latest skills.

During my visits to Philippines universities last year, I was impressed to see that a majority of graduating students were already engaged in job training at relevant companies.

In my own experience, leading a team of nearly 50 software engineers for our Japanese parent company, we are approaching a point where we can start accepting student training placements. I eagerly anticipate this opportunity to contribute to the development of the next generation of Filipino tech talent.

The Philippines’ tech industry is experiencing rapid growth, fueled by a surge in demand for skilled software developers.

While technical proficiency is essential, developers must also possess strong communication and presentation skills, particularly when working for international companies where English fluency is a requirement.

To attract top talent, both domestic and international firms are adopting strategies to establish themselves as employers of choice.

Incentives include modern office environments with robust infrastructure, recreational facilities, modern tech stacks, comprehensive healthcare coverage, and a rewarding workplace culture.

For anime and manga enthusiasts, joining a Japanese tech company may hold additional appeal due to cultural factors. This unique selling point can help these firms differentiate themselves from competitors and attract talent seeking a culturally enriching work environment.

Also Read: SaaS revolutionises finance: From streamlining to AI integration

While AI is often perceived as a threat to human programmers, it is more accurate to view it as a productivity enhancer rather than a replacement.

Generative AI models, such as GPT-4 by OpenAI and similar offerings such as Google Bard, are revolutionising the coding process by automating tasks like code generation, completion, testing, and optimisation.

A McKinsey study revealed that software developers utilising generative AI tools could boost their productivity by up to 60 per cent, with the exact gain varying depending on code complexity.

Despite AI’s advancements, the expertise and creativity of human teams remain paramount. As AI capabilities evolve, policymakers rightly consider its long-term impact on employment.

However, in the short to medium term, the primary outcome will be enhanced productivity and the formation of more effective IT teams than ever before.

The continuous hiring sprees by tech leaders indicate that fears of robots replacing human programmers are unfounded for now. I believe the Philippines is poised to become a thriving tech hub where AI complements and empowers human talent.

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Dear reader,

SoftBank’s rollercoaster ride seems to have found a thrilling upswing, thanks largely to its chip design subsidiary, Arm. After suffering a substantial setback with a US$6.2 billion loss tied to WeWork and other ventures, SoftBank’s fortunes have dramatically improved. Arm’s recent blockbuster performance, exceeding revenue and earnings expectations, has injected optimism into SoftBank’s investment portfolio.

Arm’s success is propelled by the booming demand for AI technology. With major players like Microsoft and Amazon deploying custom-designed Arm chips, the company stands at the forefront of the AI revolution. As the market for tailored AI chips expands, Arm anticipates a surge in direct sales, translating into higher royalty revenues.

This success story couldn’t come at a better time for SoftBank, especially amidst challenging US-China relations impacting its investments in crucial Asian markets. Buoyed by Arm’s stellar performance, SoftBank’s Vision Fund has notched its first quarterly profit in four consecutive losses, marking a significant turnaround.

Looking ahead, SoftBank faces a pivotal decision on whether to capitalise on its Arm shares or maintain its position. The outcome will likely hinge on the continued momentum of the AI market. As technology continues to evolve, SoftBank’s strategic moves will be closely watched in the ever-changing landscape of investment and innovation.

Sainul,
Editor.

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NEWS

Arm’s gains are SoftBank’s gains
Buoyed by Arm, SoftBank’s Vision Fund posted its first quarterly profit after four straight losses and its biggest gain in nearly three years: US$4B. US shares in SoftBank were up 17% following the company’s earnings report, largely on news of Arm’s cheery quarter.

Startup funding in SEA sees a 44% monthly drop in January: Tracxn
Of the 31 deals, 17 were seed-stage deals and 13 early-stage ones; Silicon Box topped the funding chart with a US$200M investment, followed by Motorist (US$60M), Sygnum (US$40M), and Be Group (US$31.2M).

Singapore AI fintech funding grows in H2 2023 despite global decline
Funding for the subsector in the city-state reached over US$333M in H2 2023, a jump of 77% from US$148M in H1 of the same year; There were a total of 24 investment deals for Singapore AI fintech firms throughout the whole year.

Tether, Solana co-founder back Oobit’s US$25M Series A round
Oobit provides a gateway to spending cryptocurrencies in traditional commerce settings; It plans will use the funds to expand into Latin America, the UAE, the Asia-Pacific, Canada, and Australia.

Incomlend acquires LC Lite to reach crypto, fiat investors
The merger will empower Incomlend to operate through a new fintech platform, reaching crypto and fiat investors through trade finance as it looks to accelerate its expansion in the Middle East.

Sea Group’s MariBank crosses US$149M AUM for investment account
MariBank, which launched its services in March last year on an invite-only basis, is Singapore’s third digital-native bank. It offers personal savings accounts, business accounts, and business loan products.

Alibaba reports slower growth in core businesses amid rising competition
Alibaba missed Q3 revenue expectations, as the tech giant’s e-commerce and cloud-computing businesses remained sluggish due to increased competition from Pinduoduo and weak consumer sentiment at home.

Thailand removes crypto trading tax in bid to be digital asset hub
Previously, crypto and digital token trading activities were subject to a 7% VAT; The latest development also adds to an existing policy exempting VAT for crypto transfers to a third party, which came into effect last May.

MediConCen bags US$6.85M to take its AI-powered insurtech platform to SEA
Investors are HSBC Asset Management, G&M Capital, ParticleX, and Wings Capital; MediConCen utilises Hyperledger blockchain technology to provide clients with an automatic experience in insurance claims.

Singapore-based Web3 startup Startale Labs nets US$3.5M funding
Investors include UVM Signum Blockchain Fund, Sony Network, and Samsung Next Ventures; Startale Labs specialises in Web3 infrastructure development; It creates core infra and applications for Web3 that is integrated onto the Astar Network blockchain.

Cento Ventures invests in digital procurement platform Doxa
The company plans to utilise the funds to expand into Malaysia; Primarily targeting the construction industry, Doxa’s procure-to-pay platform, Doxa Connex, provides a clear trail of the transactions that occurred.

East Ventures co-launches emissions calculator for Indonesian companies
Ecovisea gauges emissions in three domains: emissions from company-owned sources, those from purchased energy, and indirect emissions from other parts of a company’s value chain; It uses emission factor information from Climatiq, a carbon calculation platform.

Indian central bank defends ‘proportionate’ action on Paytm
The Reserve Bank of India widened its curbs on Paytm’s Payments Bank, barring it from offering many banking services, including accepting fresh deposits and credit transactions across its services.

CONTRIBUTORY POSTS

SaaS revolutionises finance: From streamlining to AI integration
SaaS solutions are only being constantly upgraded to enhance productivity and efficiency in delivering financial services.

Cross-border payments: Can incumbent banks compete with fintechs in Asia?
Those who embrace next-gen technologies and allow evolution in the way they operate will be able to win the cross-border payments battle against fintechs.

Learning from history: Safeguarding crypto in 2024 and beyond
In 2024, it’s vital to glean lessons from 2023 exploits and underscore preventive measures to avert future occurrences.

Operators turned investors: Navigating the shift to startup investing
As we navigate the complexities of the modern business landscape, let us spotlight the role of operators in investment decisions.

Unlocking Southeast Asia’s financial potential with AI-powered fintech
Besides core financial services, SEA has experienced the rise of novel finance apps and new methods of generating online income.

How to become a Thought Leader with the e27 Contributor Programme
This is your one-stop guide to learn more about being a thought leader –and nurture that writer hidden in you.

FEATURES

Why is The Parentinc aggressively venturing into offline spaces?
The Parentinc doesn’t rule out an IPO within the next three years, but at this point, it brings the retail tech footprint into other markets in SEA.

How Twitter’s descent into chaos is paving the way for a new web
The changes at X have been swift and troublesome, leading to a flurry of activity in the social sphere as X alternatives emerged; But now there’s too much of a good thing.

How Alterno’s vision is changing the energy landscape with sand batteries
Alterno’s innovative sand battery technology is shaping the green energy sector, contributing to a more sustainable future.

AC Ventures: Indonesian startups seem “well-positioned” for this shift
According to Adrian Li of AC Ventures, In response to the growing emphasis on ESG considerations among investors, Indonesian startups are gearing up for a more mature and resilient ecosystem.

Auptimate facilitates US$40M raised across 70 syndicates, SPVs
Auptimate is an online platform that aims to help angel syndicates, founders, and fund managers set up and operate SPVs and Syndicates.

ARCHIVES

Beyond Singapore and Indonesia, SEA startups are working their way out of global crises
Singapore and Indonesia continue to top startup funding list despite ongoing slowdown. What does this mean for the rest?

Be open about ways to grow and expand your skills: Cheryl Liew of MHV
Focus on your core skill sets and where you can add value to an organisation, says the Head of Talent at Monk’s Hill Ventures.

Navigating the capital winter: Strategies for successful fundraising in a slow market
As the capital winter could be prolonged, it is time for the founder to know how to survive and sustain longer and wisely.

Rethinking venture capital: 5 ways it goes beyond investing
Venture capital is a dynamic and constantly evolving industry that requires a deep understanding of both the market and the companies being invested in.

Decoding the definition of a startup from an investor’s point of view
Only a company that will be able to exit (realise profits by selling stocks as an investment) through increasing its corporate value due to rapid growth is a startup.

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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: SoftBank on the upswing | AI fintech funding in SG grows in H2 appeared first on e27.

Despite efforts to improve web accessibility, many websites still fall short of catering to the needs of people with disabilities. According to the WebAIM Million study conducted in 2021, which analysed the top one million homepages, a staggering 97.4 per cent had detectable accessibility issues, highlighting the ongoing challenges in ensuring inclusivity online.

Impact startup Rayo believes everyone should have equal digital accessibility, regardless of age, gender, race, and conditions. Headquartered in Vietnam and incubated by Antler, the company positions itself as the first AI-powered solution for enhancing global website accessibility.

Rayo’s solutions for seamless web accessibility

Learning a new web layout typically takes around 30 minutes for a visually challenged user, which is a considerable amount of time. Recognising the frustration experienced by users, Rayo was created as a co-pilot to make web browsing enjoyable and effortless for individuals with diverse disabilities.

In contrast to existing solutions that either adopt a one-size-fits-all strategy or focus solely on specific disabilities, Rayo provides advanced personalisation. Its approach involves the creation of in-depth user profiles, customisation of skill enhancements, and prediction of user behaviour, all while ensuring data security and privacy through end-to-end encryption.

Here’s Rayo’s suite of features aimed at enhancing user accessibility and streamlining web browsing experiences:

• Its keyboard-centric interface, screen reader compatibility, and voice command functionalities enable users to navigate websites effortlessly in seconds.
• Rayo empowers users to optimise their input with chart and image readers and auto-generative alt-text content.
• Through Rayo’s integrated AI assistant, users can condense lengthy text into concise bullet points and seamlessly complete straightforward tasks.

“Through a conversation with a college friend who, coincidentally, was a blind software engineer at Apple Singapore, I discovered the web accessibility issues and decided to pursue the problem. Interestingly, it was a few months later that I realised I had ADHD, which further fuelled my desire to make a meaningful impact in the disability community through Rayo,” said Tran Khanh Dung, Rayo’s Founder and CEO.

Also Read: Inclusion matters: How GitHub enhances accessibility for individuals with disabilities

Rayo provided its Alpha version to 10 blind and low-vision testers in Vietnam and Singapore in March 2023, with plans for a launch later this year.

Impactful approach to inclusivity and revenue

Rayo’s solution empowers individuals with disabilities, creating an inclusive digital space that enhances their online experience, promotes independence, and boosts productivity. “Our extensive network of non-profit organisations, educational partners, and businesses amplifies their benefits by providing better access to education and job opportunities. Moreover, our solution extends its advantages to organisations like schools and businesses committed to enhancing their accessibility and diversity initiatives,” Dung adds.

The company operates on a freemium B2C model, offering users with visual impairments and neurodivergence access to basic features at no cost. Their premium version, available for as low as US$3.99 per month, grants access to advanced features and customisation options.

Dung stated, “Key elements fostering financial sustainability include global affordability in underserved markets, rising employment for people with disabilities, thus improving their living standards, and strategic stakeholder engagement — particularly with non-profits and advocates — to expand the user base with minimal expenses and unlock revenue streams. Our focus spans beyond profit; it’s about driving positive societal impact and advancing tech innovation for humanity, particularly the underrepresented disability community.”

Growth trajectory and vision for the future

In 2023, the firm secured the initial investment from Antler and won startup competition prizes totalling US$127,000. It is currently raising US$820,000 in pre-seed funding to support product development, key hires, and its go-to-market strategy.

Also Read: How Alternō’s vision is changing the energy landscape with sand batteries

Dung added, “Our goal is to become the leading Accessibility Tech provider in Asia. To achieve this, we see a significant opportunity to introduce our solution to China, one of the largest consumer markets globally, with approximately 85 million people with disabilities — equivalent to the combined populations of the world’s top 10 most populous countries!

Furthermore, we are dedicated to advancing our product, fostering education and advocacy through partnerships and social channels, attaining financial sustainability while maintaining affordability for our end users, and making a tangible impact on the United Nations’ Sustainable Development Goals.”

As the tech sector increasingly prioritises sustainability and social impact, Rayo’s mission of enhancing website accessibility closely corresponds with these evolving trends. This alignment has positioned the company to attract potential partnerships and funding from organisations and investors committed to social responsibility. With advancements in AI driving innovation, Rayo is well-positioned to make a significant difference in fostering inclusivity and positive societal change through accessible technology solutions.

You can join the waitlist for Rayo’s beta version by signing up here.

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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: Rayo

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This week’s fintech headlines showcase major acquisitions, investments, and funding rounds shaping the global financial landscape.

Incomlend acquires LC Lite

Singapore-based global invoice financing marketplace Incomlend acquired LC Lite, a specialised Web3-powered trade finance marketplace, for an undisclosed amount.

The merger will empower Incomlend to operate through a new fintech platform, reaching crypto and fiat investors through trade finance as it looks to accelerate its expansion in the Middle East. The deal will also enable the fintech firm to bring a fresh offering of Web3 technology to its platform, creating a new asset class.

Investors will have access to both platforms, which will coexist and continue to offer their own standalone fintech solutions. The firm plans to expand the fintech platform to support stablecoins transactions in the future.

Oobit bags US$25M in Series A

Singapore-based crypto payment app Oobit concluded its US$25 million Series A investment round.

The backers in this round include the investment arm of USDT parent company Tether, CMCC Global’s Titan Fund, 468 Capital, and Solana co-founder Anatoly Yakovenko.

The startup plans to use the funds to expand into Latin America, the UAE, the Asia-Pacific, Canada, and Australia beyond its primary markets in the European Union and the UK.

Also Read: ChargeSini aims to revolutionise Malaysia’s EV landscape with smart charging solutions

Oobit provides a gateway to spending cryptocurrencies in traditional commerce settings. Consumers pay with crypto, but merchants receive fiat money, like a typical credit card transaction.

MediConCen scores US$6.85M in Series A

Hong Kong-based MediConCen, a startup automating insurance claims using AI and blockchain, has raised US$6.85 million in its latest Series A round.

HSBC Asset Management led this round, with support from existing investors G&M Capital and ParticleX and new investor Wings Capital Ventures.

This brings MediConCen’s total raise to US$12.7 million.

The capital will be used to expand into the Middle East and Southeast Asia.

Doxa raises funding from Cento Ventures

Doxa Holdings, a Singapore-based fintech startup providing a digital procurement platform for the supply chain space, secured undisclosed funding from Cento Ventures.

The company plans to utilise the funds to expand into Malaysia.

Founded in 2019 by Edmund Ng, Leon Yeo, and Henry Kwan, Doxa helps connect and digitalise the workflow of buyers, suppliers, and financiers through its enterprise platform Doxa Connex. It also creates a single source of truth within a secure system architecture, enabling data authenticity and data analytics and helping buyers to trade seamlessly and financiers to assess and qualify financing.

Startup funding in SEA sees a 44% drop in Jan

Southeast Asian startups secured US$439 million in venture funding across 31 rounds in January 2024, a 43.65 per cent drop from December 2023 but a 107.1 per cent jump over January last year, according to a report by startup research platform Tracxn.

Of the 31 rounds, 17 were seed-stage deals and 13 early-stage ones.

Silicon Box topped the chart with a US$200 million investment, followed by Motorist (US$60 million), Sygnum (US$40 million), Be Group (US$31.2 million), and FlyORO (US$16 million).

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