South Korean startup Dolbomdream, which develops IoT-powered hugging vests, has secured undisclosed seed funding from Quest Ventures.

The company will use the funds for Southeast Asia expansion.

Kim Jihun, CEO of Dolbomdream, said, “Our collaboration with Quest Ventures is crucial in solidifying our expansion plans in Southeast Asia, which include building our network with local partners and conducting pilot tests to ensure the successful integration of their products in the regional market.”

Also Read: Achieving a sustainable future by harnessing IoT and data

DolbomDream develops smart HUGgy vests that incorporate research-backed Deep Touch Pressure technology to simulate the effect of hugs on wearers to provide psychological comfort to its wearers. The vests analyse wearers’ biometric data to give caregivers real-time analysis of their psychological status through an app, which can also activate the vest.

The target customers include special needs individuals, seniors, sleep disorder patients, and anyone who might benefit from the therapeutic power of a hug.

The product is particularly beneficial for special needs individuals with conditions such as Autism Spectrum Disorder (ASD), who frequently grapple with heightened stress levels in their daily lives.

The vest also features non-contact biometric sensors that measure the wearer’s heart rate and other biometric data. The data is relayed to caregivers through a dedicated app, who obtain a real-time analysis of the wearer’s psychological condition. The app can also be used to activate the vest remotely.

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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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The truth is the future of work is evolving faster than traditional education. This is where technology can play a pivotal role in shaping the future of learning supporting our education ecosystem. Our work at SolveEducation! has been part of this revolution, leveraging Artificial Intelligence (AI) to transform the way education is delivered and experienced. Our journey with AI has been both challenging and rewarding as we strive to make learning more accessible, personalised, and effective. 

AI seems to be overhyped right now, but we need to remember AI and technology are enablers. It is how we use AI that makes it meaningful. Here are some of our learnings and practical use cases, I hope they are helpful to you.

AI for content creation

One of the primary ways we utilise AI is in content creation. The educational landscape is dynamic, with new information and skills constantly emerging. To keep pace, we employ AI algorithms that help us create learning modules that are not only timely but also relevant to our learners’ needs. This agility ensures that our content remains up-to-date and resonates with the learners’ current interests and requirements.

AI for mass customisation and auto content generation

At the heart of our AI implementation is the mass customisation of the learning experience. We understand that each learner is unique, with different preferences, learning speeds, and levels of understanding.

Our AI algorithms analyse individual learner data to generate content that is tailored to their specific needs. This personalised approach ensures that learners receive the right content at the right time, at a difficulty level that optimises their learning potential.

AI for feedback

Feedback is a crucial component of effective learning. In language learning, our AI-driven tools assist in teaching speaking and pronunciation, providing immediate and accurate feedback to learners. This real-time feedback helps learners quickly correct their mistakes and improve their language skills.

Also Read: Web3’s guardian: AI stands watch against the dark side of decentralisation

Similarly, in STEM subjects, AI is employed to provide constructive feedback when learners make errors, guiding them towards a better understanding of the concepts.

AI for engagement

This is a new frontier for us. Engagement is key to maintaining learners’ interest and motivation. Our AI-powered platforms engage learners in a conversation flow, simulating a one-on-one interaction with a dedicated teacher. This personalised experience fosters a sense of connection and support, encouraging learners to stay engaged and committed to their learning journey.

Navigating the AI landscape

Implementing AI in education is not without its challenges. Ensuring AI ethics, maintaining the quality of AI-generated content, and addressing the digital divide are some of the hurdles we face. However, the successes outweigh the challenges. We have witnessed significant improvements in learning outcomes, increased engagement rates, and a positive impact on learners’ confidence and motivation.

Shaping the future of education with AI

At SolveEducation!, we are dedicated to leveraging AI to make education more accessible, personalised, and effective. Our journey with AI is ongoing, and we are constantly exploring new ways to harness its potential to enhance the learning experience. As we continue to navigate the challenges and embrace the opportunities, we remain committed to our mission of empowering learners through innovative and impactful educational solutions.

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Visit Echelon X to learn more about the program. Get your tickets here!

Knowledge sharing among key stakeholders is paramount to today’s increasingly digital world, particularly in the realm of disruptive emerging technologies. With all the exciting new things cropping up from across the digital landscape, staying abreast of these advancements is crucial for empowering startups and driving innovation. By fostering an environment where insights are freely exchanged, organisations can harness the collective expertise of the broader tech ecosystem to navigate the complexities of new technologies effectively.

This collaborative approach not only accelerates the adoption of innovative solutions but also facilitates the identification of potential challenges and opportunities. Furthermore, sharing knowledge enables stakeholders to leverage each other’s experiences, thereby enabling organisations to minimise risks and maximise the benefits associated with implementing such disruptive technologies.

Ultimately, creating opportunities for dialogue and collaboration not only empowers stakeholders with the tools they need to thrive in the present but also lays the foundation for a sustainable and prosperous future.

How Echelon X aims to bridge the knowledge gap in the SEA tech ecosystem

At the heart of e27’s mission lies a dedication to bridging the Southeast Asia tech startup ecosystem by facilitating the exchange of knowledge, insights, and opportunities.

Happening on May 15 to 16 at the Singapore EXPO, Echelon X serves as a catalyst for connectivity among diverse stakeholders, particularly startup founders, innovators, investors, government agencies, and tech enthusiasts, among others. Echelon X serves as a gathering of industry leaders that encapsulates a vibrant ecosystem where ideas converge, collaborations flourish, and innovation thrives.

Also read: The first 27 key innovation leaders who will speak at Echelon X

By bringing together key players from across Southeast Asia, Echelon X provides a platform for networking, learning, and collaboration essential for driving the region’s tech startup landscape forward.

Through a series of curated sessions, workshops, panel discussions, fireside chats, keynotes, and networking events at Echelon X, participants have the opportunity to forge meaningful connections, explore potential partnerships, and access resources vital for their growth and success, particularly regarding the latest trends, best practices, and emerging opportunities within the tech startup space. 

Future Stage: A key highlight at Echelon X

With a steadfast commitment to fostering innovation and driving meaningful conversations within the tech startup ecosystem, Echelon X proudly introduces the Future Stage, a dedicated platform aimed at exploring radical technologies poised to shape the future.

At the forefront of this initiative are frontier technologies that stand at the intersection of radical scientific breakthroughs and real-world implementation, including artificial intelligence, big data analytics, and more.

The Future Stage will spotlight disruptive technologies such as AI as a pivotal disruptive force, ushering in a new era of growth and profitability across industries. Sessions on AI will delve into its applications such as talent development, skill training, and its transformative potential across various sectors in ways that can unlock sustainable growth for all.

Also read: The first 26 trailblazing startups of the TOP100 Growth Program 2024

Moreover, the Future Stage at Echelon X will shine a spotlight on new and emerging sectors in Southeast Asia that harness current technologies to their fullest potential. For instance, discussions on agritech will highlight how startups in the region are revolutionising agricultural practices to enhance sustainability and productivity, thus paving the way for a greener future. Similarly, sessions on healthtech will delve into the burgeoning healthcare ecosystem in Southeast Asia, uncovering opportunities for innovation and collaboration along the value chain.

In addition to exploring specific sectors, the Future Stage will delve into the development of digital landscapes such as Web3, offering insights into decentralised technologies and their implications for the future of business and society. Through thought-provoking discussions and presentations, attendees will gain a deeper understanding of how these technologies are reshaping industries, driving innovation, and creating new opportunities for startups and investors alike.

From cybersecurity to fintech, the Future Stage promises to be a dynamic platform where participants can explore the forefront of technological innovation and envision the possibilities for a brighter future.

Join us at Echelon X!

Echelon X embodies e27’s commitment to fostering a dynamic and inclusive ecosystem that empowers startups to thrive, investors to find promising opportunities, and stakeholders to contribute to the region’s overall growth.

Get ready for the ultimate tech and innovation conference as Echelon X kicks off on May 15th and 16th, 2024, at the Singapore EXPO. This dynamic event will bring together industry leaders, visionary entrepreneurs, and groundbreaking startups from all corners of the region for two packed days.

Also read: Unlocking the full Echelon X experience through customised ticketing options

Whether you’re eager to expand your knowledge, network with key players from the tech startup scene, or showcase your innovative ideas, Echelon X offers an unparalleled experience. Join us as a participant or an official partner by securing your spot now on our official page. Together, let’s embark on a journey to shape the future and create a lasting impact.

Join us at Echelon 2024, where innovation knows no limits, and the possibilities are boundless!

The post Exploring emerging tech at the Future Stage in Echelon X appeared first on e27.

Dear reader,

Southeast Asian tech giant Grab has achieved a significant milestone, recording its first-ever quarterly profit of US$11 million in Q4 2023. This remarkable turnaround from a US$391 million loss in the same period last year reflects improved financial performance across various metrics.

The company attributes its success to factors like positive adjusted EBITDA, reduced expenses, and robust financials. This newfound confidence is further evidenced by its announcement of a US$500 million share buyback program, a move typically indicative of optimism in future stock performance.

Grab’s revenue also experienced significant growth, rising 30% year-on-year to US$653 million in Q4 2023. This growth was driven by strong performance across all segments, with deliveries and mobility remaining the key revenue generators.

Despite these positive developments, Grab continues to face regulatory scrutiny, particularly regarding potential monopoly concerns. The recent review of its proposed acquisition of Trans-Cab by Singaporean authorities exemplifies these challenges.

While the future holds uncertainties, Grab’s recent achievements and strategic decisions suggest a company on a positive trajectory. Its ability to navigate regulatory hurdles and maintain financial momentum will be crucial for its continued success in the competitive Southeast Asian tech landscape.

Sainul,
Editor.

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NEWS ARTICLES

Grab reports profitable Q4, to buy back shares
The super app posted US$11M in profit for the December 2023 quarter; This is an improvement from a loss of US$391M in Q4 2022; Its board has approved an up to US$500M share repurchase plan for its class A ordinary shares.

Aptar Digital acquires Singapore-based Healint
Healint is a health tech company known for its virtual clinical studies, real-world evidence, and patient registry; Healint’s ability to conduct clinical studies complements Aptar’s solutions to provide additional value to pharmaceutical customers.

Singapore fintech startup Xalts acquires Contour Network
The initial focus for Xalts will be embedded solutions for trade and supply chain finance; These will enable banks, logistics companies and technology companies to offer integrated solutions to businesses using a single platform.

UNOAsia secures US$32.1M to provide digital banking services in Philippines
Investors include Gateway Partners, Creador Private Equity, and Nextinfinity Management; UNO Digital Bank is a full-spectrum credit-led digital bank which can be used to save, borrow, transact, invest, and protect money.

VinFast almost doubles revenue in 2023, aims to deliver 100K EVs in 2024
The EV maker reported US$437M in revenue for Q4 2023; This brings its total revenue for FY ending December 31, 2023 to US$1.2B – a 91% boost from a year ago.

VinFast to soon begin construction of US$500M EV factory in India
The factory aims to become a regional production hub, churning out up to 150,000 EVs annually; It plans to export EVs to South Asia, the Middle East, and Africa, and the project is expected to generate 3,500 jobs.

Wavemaker Partners eyes US$150M raise for next fund
TiA sources said the VC firm has reportedly secured commitments of around US$100M so far, and it intends to raise the remaining US$50M within the next couple of quarters.

TikTok Shop still violates local regulations, Indonesia minister says
The Minister of Cooperatives and SMEs Teten Masduki said that TikTok Shop still allows direct transactions on social media; Although Tokopedia now handles transactions on TikTok Shop, users can still make direct purchases through the latter’s platform.

YuuZoo’s ex-CEO James Somasundram charged for misleading financial reports
Meanwhile, Thomas Zilliacus, who was CEO and chairman of YuuZoo at the time of the alleged offenses, is also facing an arrest warrant; Founded in 2008, YuuZoo’s platform combined social networking, e-commerce, gaming, and online payments.

Jack Ma’s wife reportedly buys 3 shophouses in Singapore
The shophouses cover a land area of 3,239 square feet and are currently being refurbished; The Urban Redevelopment Authority has approved the renovation, which will convert the ground floor for restaurant use and the upper floors into office space.

Indonesia to require Google, Meta to compensate news publishers
The Publisher Rights decree stipulates that digital platforms are responsible for maintaining a healthy news publishing business; They can include designing a news distribution algorithm that supports quality journalism as well as partnering with news publishers.

Helicap, Bank Danamon to support Indonesia’s alternative lending industry
Beyond capital infusion, the deal envisions a supportive and innovative funding ecosystem catering to the debt financing needs of non-bank firms at every stage of their growth journey, from seed funding to IPO.

Singapore’s AI startup Transparently secures US$3M pre-Series A
Investors are Franklin Templeton and Move Asset Management; Transparently.AI detects accounting red flags and measures the likelihood and extent to which a company manipulates its accounts.

Prefer scores US$2M funding to take its bean-free coffee brand to Philippines
Investors include Forge Ventures, 500 Global, A*ccelerate, and Better Bite Ventures; Prefer will invest in growing the capacity of its production facility and expanding its ground coffee and ready-to-drink bottled beverages across APAC.

Uber to explore travel ticketing with India’s open commerce network
The ride-hailing giant said Thursday that it will explore an integration with Open Network for Digital Commerce to explore integrations with the network and expand range of its mobility offerings on the Uber app.

Google to pause Gemini AI model’s image generation of people due to inaccuracies
Google started offering image generation through its Gemini AI models earlier this month, but over the past few days some users on social media had flagged that the model returns historical images which are sometimes inaccurate.

Atome CEO David Chen steps down to join GoTo Financial as consumer lending head
While transitioning to GoTo, Chen will retain his co-founder role at Atome’s parent company, Advance Intelligence Group, and remain Chairman of Atome Financial.

Quest Ventures backs IoT hugging vest maker Dolbomdream
The company will use the funds for Southeast Asia expansion; DolbomDream develops smart HUGgy vests that incorporate research-backed Deep Touch Pressure technology to simulate the effect of hugs on wearers.

Delivery Hero ends talks on potential sale of Foodpanda
While Delivery Hero has not disclosed the identity of its negotiating counterpart, Grab was reportedly the suitor; Earlier this month, Delivery Hero had denied rumors that talks with Grab had fallen through.

Aerodyne, DroneDash partner for cross-border delivery services between SG, MY
The service is designed for critical deliveries such as urgent documents, high-value electronics, medical supplies, and perishable foods; The drones can carry up to 30 kilograms and achieve 150 km/h speeds within a four-hour flight.

ECHELON 2024

The first 27 key innovation leaders who will speak at Echelon X
Get to know the first set of industry leaders who will be taking the Echelon X stage to discuss trends on the latest innovations.

The first 26 trailblazing startups of the TOP100 Growth Program 2024
From cybersecurity to pet tech, TOP100’s diverse group of startups promises to leave a lasting mark on the SEA startup landscape.

FEATURES & INTERVIEWS

How The Radical Fund discovers, backs, spearheads climate-resilient ventures in SEA
The Radical Fund CEO Alina Truhina outlines the rigorous criteria used to select founders and ventures, emphasising a tailored, hands-on approach post-investment.

Climate change and gender equality: How to support underfunded women-owned business
While there is a distinct relationship between gender inequality and climate change, investment mandates rarely combine both of these lenses.

How AI Palette wants to help CPG companies develop products faster and easier with AI
CPG has been lagging in AI adoption compared to other industries such as fintech. AI Palette wants to change that.

iFLYTEK exec on why SEA is crucial for the development of global AI landscape
With the rise of AI, Southeast Asia faces important ethical and policy considerations that have implications beyond the region.

CONTRIBUTORY POSTS

Riding the affluence surge: How Generative AI can power growth in financial advisory
Banks in SEA are starting to roll out Generative AI tools, starting with internal ‘co-pilots’ like virtual assistants to improve productivity.

Small business, big impact: How AI is democratising entrepreneurship
While leaders in large corporations may emphasise similar AI advantages, what sets SMBs apart is their distinct approach to incorporating AI into their business journey.

From threat to transparency: Inside Cloudflare’s response to a holiday breach
Cloudflare’s transparent communication and proactive approach to addressing the breach deserve commendation.

Asia’s fintech frontier: Strategising the race to crown the next financial innovation capital
Competition in Asia’s fintech sector intensifies, highlighted by the dominance of the region’s megacities in global fintech rankings.

The syndicate playbook: Your roadmap to investing in startups like a pro
The success of your syndicate hinges on cohesion, trust, and a shared commitment to nurturing entrepreneurial dreams.

Web3’s guardian: AI stands watch against the dark side of decentralisation
AI has been advancing at an unprecedented pace, and with time, it has marked its place in the broader Web3 sector.

FROM THE ARCHIVES

5 things that will make you be remembered as a leader who mattered
The best bosses go beyond and thoughtfully plan out and deliver insightful, actionable, even brave, feedback; It takes time, careful observation, and for the giver of the feedback to be caring enough about you to get the feedback spot-on and deliver it in a way you can hear it.

3 simple and valuable tips for startup productivity
CEOs and founding teams should reconsider the way they use time; At the end of the day, the point is not to produce quantity but to deliver on the strategic bits which really matter – and that kind of re-focused focus makes a massive difference.

5 growth hacking tips you must consider for your business
The only way to grow your business is to have more people use or talk about your products and services and that can only happen when you whole-heartedly meet up with the needs and preferences of your targeted market/audience.

The art of tackling procrastination: what you must know before you fail to complete any task
The first step to stopping procrastination is to actively ask yourself why you’re doing it; It doesn’t matter if it’s an assignment you’ve been putting off for weeks, or you’re avoiding researching it online; There has to be a reason why you’re avoiding doing the task at hand.

7 common legal pitfalls startup founders should avoid
Be wary of short-form term sheets that appear to leave all the key issues to the long-form transaction documents; Whilst you’ll probably sign this kind of term sheet quickly – the likelihood is you are simply delaying the real discussions until later.

5 growth hacking tips your business can never go without
The only way to grow your business is to have more people use or talk about your products and services and that can only happen when you whole-heartedly meet up with the needs and preferences of your targeted market/audience.

CONTRIBUTION SPOTLIGHT

David Kim: Championing entrepreneurs, shaping the future of innovation
Explore Kim’s pivot from banking boardrooms to global podcasting, where he empowers the next generation of entrepreneurs.

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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 reports profitable Q4 | Healint acquired by Aptar Digital | Indonesia says TikTok Shop still violates rules appeared first on e27.