The Dolbomdream team with Founder and CEO Kim Jihun (front row, centre)

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.

The post Quest Ventures backs IoT hugging vest maker Dolbomdream appeared first on e27.

In the dynamic world of startups and venture capital, understanding cap tables is crucial for both entrepreneurs and investors. A cap table, short for capitalisation table, serves as a comprehensive record of a company’s equity ownership structure. It details who owns shares in the company, the different types of shares issued, and the respective ownership percentages.

A cap table is essentially a snapshot of a company’s ownership at a specific point in time. It outlines the distribution of shares among founders, investors, employees, and any other stakeholders who hold equity in the company. This information is critical for making informed decisions about fundraising, equity dilution, and overall company valuation.

Key components of a cap table

The post Understanding cap tables: A guide to equity ownership appeared first on e27.

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.

The post 7 ways to easily track down the walking disengaged before it’s too late appeared first on e27.

This week saw a surge of activity in the Southeast Asian startup scene, as several pioneering ventures secured significant funding and announced strategic partnerships to fuel their growth and expansion initiatives.

From digital banking and fintech platforms to AI-driven fraud detection and sustainable coffee substitutes, these startups are reshaping industries and pushing the boundaries of innovation.

Let’s delve into the highlights of PriyoShop’s transformative retail marketplace, Transparently.AI’s advanced accounting fraud detection technology, Xalts’ acquisition of Contour Network, UNOAsia’s credit-led digital bank, Prefer’s bean-free coffee revolution, and Dolbomdream’s therapeutic IoT-powered hugging vests.

Additionally, strategic partnerships like Helicap’s collaboration with Bank Danamon Indonesia and cross-border drone delivery services by Aerodyne and DroneDash are poised to redefine logistics and financing landscapes across the region.

These developments underscore Southeast Asia’s position as a hotbed for entrepreneurial talent and disruptive innovation, promising exciting prospects for the future of business in the region.

PriyoShop

PriyoShop, a B2B retail marketplace for MSMEs in Bangladesh, made the headlines this week with the closing of its US$5 million pre-Series A round of financing led by Century Oak Ventures. Evolution Ventures, Iterative, SOSV (Orbit Startups), GFR Fund, BonBillo, Accelerating Asia, South Asia Tech Partners, and Voltity also participated.

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

Launched in July 2021 by Khan and Dipty Mandal (CMO), PriyoShop works with small retail shops and major brands to transform and modernise the retail supply chain industry. Through its asset-light marketplace model, PriyoShop helps small businesses efficiently source goods, access consistent and competitive prices, and rapidly receive goods through next-day delivery. This helps MSMEs increase their business margins.

Through the company’s partnership with the digital financing platform LankaBangla Financing, PriyoShop can help MSMEs scale up their businesses further through tailored credit facilities and access to supply chain financing options.

Lapasar and Bateriku

Both these startups hit the headlines when they received funding from Malaysia’s pension fund Kumpulan Wang Persaraan (Diperbadankan) [KWAP]

KWAP invested a total of RM100 million (US$21 million) in Lapasar and Bateriku and VC firms Antler and Vynn Capital.

Bateriku is an automotive service provider with a network of partners nationwide, providing job opportunities and increasing financial inclusion. Lapasar, on the other hand, is an online wholesale marketplace that focuses on meeting the needs of the FMCG industry, accelerating the adoption of digitalisation throughout the economy.

Transparently.AI

Global asset manager Franklin Templeton invested an undisclosed amount in Singapore-based artificial intelligence startup Transparently.AI, as part of its fintech incubation programme. This investment is part of the AI-based accounting fraud detector’s US$3 million pre-Series A funding round.

Move Asset Management also co-invested in Transparently.

Transparently.AI uses machine learning to identify accounting manipulation and fraud in company reporting far in advance of public discovery. It has developed a unique AI-based system for the automated detection of accounting manipulation and fraud in companies globally. Transparently.AI provides a cloud-hosted SaaS solution that explicitly measures the probability of accounting manipulation in listed companies.

Xalts

Xalts, a Singapore-based fintech platform for financial institutions and businesses to build and manage digital finance applications, acquired Contour Network, which connects global banks with global businesses.

Contour was started in 2017 as a pilot by eight global banks, including HSBC, Standard Chartered and BNP, focusing on digitising trade. Over 22 banks, including HSBC, BNP, Citi, DBS, and ING, and 100 international businesses like Tata Group and Rio Tinto, use Contour for digital trade finance solutions.

Xalts was founded in 2022 by Ashutosh Goel and Supreet Kaur, former senior executives at HSBC and Meta. Backed by Accel Partners and Citi Ventures, Xalts is used by institutions to build multi-party applications for digitisation and tokenisation.

UNOAsia

UNOAsia, the company behind UNO Digital Bank in the Philippines, raised US$32.1 million in a pre-Series B investment round comprising equity and debt. The investors include Gateway Partners, Creador Private Equity, and Nextinfinity Management.

Also Read: Exploring emerging tech at the Future Stage in Echelon X

Founded in 2020 by Manish Bhai, Puneet Gupta, and Kalidas Ghose, UNO Digital Bank is a full-spectrum credit-led digital bank licensed under the Digital Banking License framework promulgated by the Bangko Sentral ng Pilipinas (BSP) in the Philippines. Filipinos can use the app to save, borrow, transact, invest, and protect money.

Aerodyne and DroneDash

Aerodyne Group, a drone-based enterprise solutions provider headquartered in Malaysia, has signed an agreement with Singapore-based air mobility company DroneDash Technologies to introduce cross-border drone delivery services between the two countries.

This aims to boost logistics efficiency between the two countries and advance the region’s delivery and supply chain capabilities.

The two firms will work to obtain all necessary permits to commence shore-to-shore drone operations along the Malaysia-Singapore corridor.

Healint

US-based software-as-a-medical device (SaMD) company Aptar Digital Health, a unit of NYSE-listed AptarGroup, Inc., acquired Singapore-based Healint, a health tech company known for its virtual clinical studies, real-world evidence, and patient registry.

The details of the deal remain undisclosed.

Per a statement, the acquisition aligns with Aptar Digital’s strategy to broaden its portfolio in neurology and strengthen its global footprint for digital health deployment. The expanded capabilities include patient community management, patient activation, artificial intelligence-based data collection and analysis, and digital diagnostics to facilitate patient screening and identification.

Furthermore, Healint’s ability to conduct clinical studies at a global scale complements Aptar Digital Health’s existing solutions to provide additional value to pharmaceutical customers.

Prefer

Prefer, a bean-free coffee startup in Singapore, secured US$2 million in seed funding led by Forge Ventures. 500 Global, A*ccelerate, Better Bite Ventures, Sopoong Ventures, SEEDS Capital, Entrepreneur First, and Pickup Coffee also participated in the round.

The capital allows Prefer to make significant investments in growing the capacity of its production facility, expanding its ground coffee and ready-to-drink bottled beverages across Asia Pacific, starting with Singapore and the Philippines.

Co-founded in 2022 by Jake Berber (CEO) and Tan Ding Jie (CTO), Prefer makes coffee without coffee beans to ensure coffee is delicious, affordable, and sustainable. The company’s proprietary fermentation technology upcycles surplus bread, soy pulp, and spent grain to create a coffee substitute that offers the same aroma, taste, and brewing experience as traditional coffee.

Helicap

Singapore-based fintech group Helicap, which connects global investors to private debt opportunities in Southeast Asia, formed a strategic partnership with Bank Danamon Indonesia to support the archipelago’s fintech and alternative lending industry.

This collaboration aims to position the duo as a one-stop solution for non-dilutive growth capital targeting fintech, alternative lending firms and MSMEs across diverse segments, including supply chain, leasing, and e-commerce.

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.

Dolbomdream

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

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 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.

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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 Innovative SEA startups make waves with funding and expansion appeared first on e27.

In early February, Qritive announced a partnership with three diagnostic centres and hospitals in India: Metropolis Healthcare, Rajiv Gandhi Cancer Institute, and CŌRE Diagnostics. These institutions are set to use the Pantheon image management system (IMS) and Qritive’s Artificial Intelligence (AI) products.

According to a press statement, integrating Qritive’s AI technology into these institutions’ diagnostic processes represents a significant leap forward in modernising pathology practices. They are expected to enhance diagnostic accuracy, improve operational efficiency, and eventually, advance patient care.

“We have been operating in India since 2019 and signed our first major commercial contract there with a healthcare institution in 2021. In the early phase of the go-to-market, we relied primarily on direct engagement with pathologists, educating the market on the value of AI-powered solutions for diagnostics,” explains Qritive in an email to e27.

“Along the way, we also won several awards from NASSCOM and Sweden Innovation. Recently, considering the novelty of the technology in the healthcare system, we decided to run a programme providing an opportunity for pathologists to experience the benefits of AI in their workflow. Our ‘Experience Program’ was well received, creating the momentum needed to deploy in three major hospitals and lab chains.”

With their AI solutions, Qritive targets pathologists working in private or public laboratories and hospitals and pharmaceutical and biotech companies as their primary users.

“Our current focus has been primarily on Asia and the Middle East. We acquire clients through direct sales, strategic partnerships, and distributors,” the company says.

Also Read:How data can be used to empower mental healthcare in Asia

“For this purpose, we have forged strong partnerships with key ecosystem players. Among others, we partner with slide scanner manufacturers such as Motic, infrastructure providers such as Dell and NTT, and digital pathology image management system players such as Corista.”

Headquartered in Singapore, with operations in the US and India, Qritive is an AI solution developer that aims to advance digital pathology for cancer diagnosis and improve health outcomes with the assistance of AI-based solutions.

Run by 15 full-time employees across Singapore and India, the company has raised US$7.5 million in a Series A round announced in 2023.

Qritive co-founders first crossed paths at the startup incubator Entrepreneur First (EF), previously operating in Singapore. Dr Kaveh Taghipour, who holds a PhD in Deep Learning, was matched with Dr Aneesh Sathe, who specialises in mechano-biology. Both were PhD graduates from the National University of Singapore (NUS) and took the challenge to change cancer diagnostics with AI.

While exploring several areas in healthcare, including radiology, ophthalmology, and infectious diseases, the co-founders realised the “serious challenges” pathology faced.

“These problems include a severe global shortage of pathologists, manual and error prone processes in cancer diagnosis, and long turnaround times for patients. Having lost close family members to cancer, Kaveh and Aneesh decided to build AI-powered solutions for pathologists to enable effective and affordable treatment for cancer detection. This led to the establishment of Qritive in 2017,” the company says.

In addition to its partnerships in India, Qritive has also made several milestones, including being selected in the inaugural batch of JLABS Singapore, a collaboration between Johnson & Johnson Innovation and Singapore Economic Development Board; receiving conditional approval from the Abu Dhabi Department of Health for clinical deployment in UAE, and having an extended network to more than 300 pathologists, providing research and clinical studies to healthcare institutions.

Regarding its R&D, the company has released two prostate AI and lymph node metastasis modules.

“In our development pipeline, we have a few modules dedicated to breast cancer and ovarian cancer detection, and several other critical areas of healthcare,” the company says of its major plan in 2024.

“Our strategic focus entails the expansion into key markets, with a particular emphasis on Asia and the Middle East, where we can observe a strong commitment to adopt digital pathology to deal with the growing flow of cancer cases. In parallel, we pursue regulatory certifications in key geographies.”

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Image Credit: Qritive

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According to Parsons New School, 75 per cent of organisations self-report that they are engaged in design thinking while 71 per cent of organizations that practice design thinking report that it has improved their working culture on a team level. 

Also, as per the Design Management Institute, design-driven companies have outperformed the S&P Index by 219 per cent over 10 years. 

So what is design thinking? And how can you apply it?

Today, we will run you through the definition of design thinking and help you understand how to apply it.

Understanding design thinking

Design thinking is a problem-solving framework that uses empathetic, creative, and analytical skills to solve problems. It is a human-centered approach to innovation.

The method is based on the book, The Sciences of the Artificial, by Herbert A. Simon, written in 1969. However, design thinking has undergone several changes. Currently, the most commonly used methodology is derived from the Hasso-Plattner Institute of Design at Stanford.

Usually, the design thinking method solves problems for businesses that are looking for an idea to create a new product or service. It is also useful for technology-based companies that are in need of a user-friendly design for one of their gadgets to meet a consumer need. Design thinking is often used by UX designers to tackle big, complex, or even largely unknown problems in product development. 

Principles of design thinking

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There are 5 core design thinking principles:

1. Empathizing with users: Designers research and walk in the user’s shoes as soon as they start a new project.

2. Defining the problem: Using the method, designers map difficulties, interpret, plan, and strategize.

3. Ideating solutions: It involves brainstorming, visualizing, thinking, and reflecting on possible outcomes.

4. Prototyping: Designers sketch, visualize, apply, and create wireframes and beta versions.

5. Testing: It includes reviewing, getting feedback, fixing, clearing out, and revising.

How to use design thinking?

1. Empathise

As a designer, before you proceed to do anything else, you need to understand your client’s needs. And when you begin the design process, you should walk in the user’s shoes.

Who is going to use your digital product? What makes the target audience exclusive? What are your users’ habits? What is their online behavior like? What are the users’ needs that have to be addressed? Where are the pain-points? Having an answer to all these questions will help you begin smoothly.

Focus on your user’s experiences, particularly emotional ones. You can use the so-called ‘empathy map,’ which is a tool used for articulating what you know about a particular type of user. 

It can define a rough user persona and characterize your target users in order to make effective design decisions. 

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It will help you gain an insight into the user’s perspective regarding the tasks related to the product. For every type of user, you can use a new empathy map.

2. Define

Next, you should focus on the actual problem your design will solve. What steps do the users need to make to successfully use a website, a progressive web application, an online shop?

Also Read: Design thinking: A superpower for the challenges of modern businesses

Leverage the knowledge you have about the user and identify the problems. But when you define the issue, you shouldn’t forget the human side of your product. While doing so, keep the user in focus at all times. 

You may have to come back here repeatedly when you start testing your product. Don’t hesitate to make changes. This is your product’s core function, the main reason why people will get it in. If you don’t get the problem right, your product will fail.

3. Ideate

The next step is to come up with as much relevant, fresh, and innovative ideas. It is an exciting phase where you can imagine the unimaginable and turn it into reality.

Remember to set a time limit, don’t deviate from the topic, be visual, and build on each other’s ideas. And be ready to brainstorm.

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The process of ideation can help you come up with the right questions; think out of the box; discover unexpected possibilities of your product, and come up with innovative solutions. Remember, even a bad idea that strikes your mind is worth consideration.

4. Prototype

Here, you will be creating prototypes for demonstrating and authenticating your basic designs based on the best concepts from your ideation exercises. To accurately assess a design concept, you’ll want to prototype it in the same environment and context in which it will ultimately function.

Design thinking focuses on human-centered design and thus offers solutions for fulfilling a particular human need. To do that, you must know what the pain points are so as to find solutions.

When creating a UI or UX design, focus on trying out diverse solutions and designing an interface that will offer a great user experience.

Start to visualize solutions and define possible mistakes by drawing a website sketch and creating a digital wireframe.

Once you are done with defining the problem, try out various alternative solutions and simulations prior to settling on the final solution.

If you are dealing with complex design issues, creating a working model will help. Consider optimizing the beta version of a website and making it available to the public. You will get the most valuable feedback from real users.

5. Test

The last stage is testing the prototype’s functions, usability, and usefulness for target users.

You may end up creating a faultless design on your first attempt, but more likely, there will be some errors to fix. Making errors during a UI/UX design is inevitable, but you must identify them while there is still time to fix them. 

You can make use of web development online testing tools to evaluate your work and the functionality of your solutions. Webflow, Vectr, and Marvel are some great tools.

Winding-up

Are you struggling to come up with an idea to create a new product or service? Or do you need a user-friendly design for your gadgets to meet your consumers’ needs? 

It promotes user-centricity, innovation, creativity, and makes you think out of the box. Design thinking has transformed big names like Airbnb from a failing startup to a billion-dollar business. 

Many businesses are incorporating it to grow their business.  And you can be next. 

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Editor’s note: e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Join our e27 Telegram group here, or our e27 contributor Facebook page here.

Image Credit:  James Pond

This post was first published on November 14, 2019

The post What are the basics of design thinking, and how to apply it? appeared first on e27.

The e-commerce landscape has shown steady growth over the past few years. In 2019, the total value of global online retail sales has been over USD$3.45 T. Moreover, by 2014, almost all purchases are expected to be made online. 

Still, many online brands are struggling with poor conversion rates. They focus on improving the checkout process and shopping carts. But, what about the majority of customers that don’t even get to that point? Many online shoppers will decide to leave your store after landing on a poorly optimized product page. 

Here are a few actionable steps that will help you level up your product page optimization.

1. Analyse your pages

Before you start optimizing your page, you need to pay attention to your site’s overall performance.

For starters, use a web crawler tool to find all pages in a website and analyze them thoroughly from different SEO aspects.

Your goal is to observe how fast the page loads, whether there are any faulty links or buttons, how your pages look on different devices. Most importantly, you need to ensure that the page is user-friendly and that it provides enough information to help customers make buying decisions.

2. Use high-quality visuals

Would you buy from an online store that either has low-quality product photos or doesn’t have them at all? 

Product photos should be the first thing a customer sees when landing on your product page. It should help them form their initial impressions about the product and evaluate its quality. 

An online customer cannot touch, try, or feel your product. This is why you need to represent your product in the right way. Invest in professional product photography and talk to a photographer about using the colours, filters, and layouts consistently. For each product, provide several photos taken from multiple angles. 

Also read: 6 simple tips for branding your website

To build trust with a customer and engage them, you can even implement a 360-degree shot of your product or even make a short video that would emphasize the best features of the product and show how it’s used. 

To emphasize the photo or the video of a product, leave lots of negative space and choose eye-pleasing and bright colours (preferably white).

3. Write thorough product content descriptions

Many brands make a big mistake when creating their product content, focusing on optimising it for the right keywords to help their page rank high

er. However, they don’t think about the impact of such keyword-heavy content on user experiences. When visiting your page, a customer wants to get as much information about your content as possible. Stats back me up on that, showing that almost 90 per cent of online buyers consider product content an extremely important part of their buying journey. 

High-quality product page content should include: 

1. A straightforward and informative product page title

2. An accurate price of the product

3. The material of the product

4. The dimensions or capacity of the product

5. The information about the brand

6. The colour of the product

7. The availability of the product

When writing product descriptions, make sure they’re engaging. Use personal, polite, and professional touch and, at the same time, try to connect with your potential customers on a more personal level.

They should be concise and clear – add headings and bulletins to make them easier to follow. Sure, adding a keyword is recommended, but always make sure that you insert it logically and organically. 

4. Write a clear call to action

When creating your online store, the idea is to guide a customer down the sales funnel, from the awareness stage to converting. This is where a strong call to action plays an immensely important role. 

Instead of the generic “Add to cart,” choose something more creative. Use your CTA button to tell a customer why to buy from you and where to do so. You don’t need to use fancy, lengthy phrases. Try to be as direct and concise as possible. 

Also read: Why your website design should be completely different in China

Also, pay attention to the colour, size, and the shape of the CTA button. Always choose ones that will make your call to action easily visible from all parts of the page, but make sure they’re visually appealing. 

5. Make your product page responsive

The number of mobile users is constantly growing and is expected to reach 7.26 billion by 2020.  Therefore, failing to optimize your product pages for mobile, you’re missing out on an amazing opportunity to grow your reach and increase conversion rates.

Your goal is to create a responsive website that will look and feel amazing on all devices. Unlike the traditional mobile-friendly website, a responsive website is flexible and adaptable to a user’s device.

For starters, improve your site’s speed, declutter your layout and eliminate all unnecessary elements on the product pages, and ensure that all links and buttons are easier to click. Later, as your store keeps growing, you can even build an online shopping mobile app and boost your conversions.

6. Build trust with online reviews

Today’s customers expect brands to be fully transparent and honest. And, one of the most effective ways to build trust with them is to enable product reviews and ratings. Namely, 85 per cent of your customers trust online reviews as much as personal recommendations. 

Positive reviews will help your customers get rid of any doubts they may have about your product and encourage them to make a buying decision. Still, this doesn’t mean you should ignore or be afraid of negative comments.

Namely, they are also an amazing opportunity to see what bothers your customers most, provide timely feedback, and improve your products/services in the long run. After all, if you cater to the dissatisfied customers’ needs and help them solve specific problems, you can ask them to edit the comment.

Additionally, you can even encourage customers to review you. For example, you could send them a post-purchase survey via email, ask loyal customers to write testimonials or display users’ comments on social networks. To boost user engagement, consider building a social media contest and encourage customers to share user-generated content you would later share on your product pages. 

7. Boost FOMO

One of the most effective sales tactics is to create urgency around your product. Your idea is to evoke customers fear of missing out (FOMO) and get them to think that may miss out on an amazing opportunity to buy your product.

There are numerous ways to do so. For example, create and announce time-sensitive sales and deals, limit free shipping, offer one-shot deals, etc.

You can also insert the quality of products in stock or add a clock to your product page to make visitors look at how much time they’re left until the sale is over. 

Conclusion

If the conversion rates from your product pages are low, it’s time to test their functionality and optimise them. By adding the features mentioned above, you will not only increase your sales, but also boost user experiences, gain lots of recommendations, and retain loyal customers.

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Editor’s note: e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

Join our e27 Telegram group here, or our e27 contributor Facebook page here.

Image Credit:  Igor Miske

This post was first published on November 13, 2019

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