Day: March 5, 2024

Last week witnessed a surge of investment activity in Southeast Asian startups, with a diverse range of investors pouring funds into the region’s burgeoning tech ecosystem.

From early-stage venture capital firms to angel investing platforms, a multitude of players displayed confidence in the potential of Southeast Asian companies. These investments signal a growing interest in the region’s digital markets, underscoring its emergence as a hub for innovation and entrepreneurial growth.

Let’s delve into the varied e27 Connect investors who participated in this funding spree.

M Venture Partners (MVP)

MVP is an early-stage VC investor. Based in Singapore, the company invests in companies across Southeast Asia, from pre-seed to Series A stages. The average cheque size is US$500,000 to US$2 million.

Cento Ventures (e27 connect)

Cento Ventures specialises in under-invested emerging digital markets, primarily in ASEAN. It invests in emerging digital markets, primarily Malaysia, Thailand, Singapore, Indonesia, the Philippines, and Vietnam. It backs Series A and B-stage companies. The average ticket size is US$1 million to US$4 million.

Also Read: SEA startups get a funding boost in latest investment wave

Gobi Partners

Founded in 2002, Gobi is one of the most active early-stage investors in digital media and technology in Asia. It manages four funds with over US$300 million under management. Since its establishment, Gobi has funded dozens of early to traction stage companies and continues to invest actively in the region. It invests from the seed stage to Series C and above. The focus markets are China, Hong Kong, Singapore, Malaysia, Indonesia, Thailand, Vietnam, the Philippines, the United Arab Emirates, and Pakistan.

All three VCs invested in ProCredit, a tech-enabled SME lender in the Philippines.

Iterative

Iterative Capital is an accelerator exclusively investing in companies based in Southeast Asia. Founded by co-founders of Decide.com (acquired by eBay), Iterative differentiates itself with partners, mentors, advisors, and investors who have all previously started, sold, and operated startups. It invests in angel and seed startups. The average cheque size is US$150,000.

The startup invested in is the Vietnam-based wealth management platform 1Long.

Monk’s Hill Ventures

MHV is an investor in early-stage technology startups in Southeast Asia. Founded in 2014 by entrepreneurs Peng T. Ong and Kuo-Yi Lim, MHV invests in early-stage technology companies throughout Southeast Asia, mainly Series A. It takes a first-principles approach and is sector agnostic, investing across industries and sectors including healthcare tech, edutech, fintech, and logistics.

The startup invested in is the Vietnam-based wealth management platform 1Long.

Indelible Ventures

Indelible Ventures is a seed-stage VC investor in Malaysia funding tech-enabled seed-stage startups with B2B products that can expand internationally. It invests in seed to pre-Series A. The average ticket size is US$150,000 to US$500,000.

The startup backed is K-LINK, a Singapore-based provider of a unified contact centre platform.

A2D Ventures

A2D is an angel investing platform. Based in Thailand, it invests from pre-seed to pre-Series A companies. The average ticket size is US$100,000 to US$1 million.

The startup backed is K-LINK, a Singapore-based provider of a unified contact centre platform.

Accelerating Asia

Accelerating Asia is an early-stage fund headquartered in Singapore that invests in pre-Series A startups in Southeast and South Asia. Licensed by the Monetary Authority of Singapore, Accelerating Asia invests up to US$250,000 in pre-Series A startups, and the current portfolio covers ten Southeast and South Asian countries including Singapore, Indonesia, Vietnam, India, Bangladesh and Malaysia.

The startup backed is K-LINK, a Singapore-based provider of a unified contact centre platform.

500 Global

500 Global is a multi-stage VC firm that invests in founders building fast-growing tech companies across 30-plus sectors. A multi-stage VC firm with US$2.7 billion in assets under management, it focuses on markets where technology, innovation, and capital can unlock long-term value and drive economic growth. 500 Global has backed over 5,000 founders representing more than 2,700 companies operating in 81 countries.

The startup invested in is Komerce, an e-commerce enabler for SMEs in Indonesia.

Protege Ventures

Protege is a Singapore-based student fund with two distinct characteristics: it is run by students and only invests in startups with at least one student co-founder. A joint initiative by Kairos ASEAN and the Singapore Management University (SMU), it leverages Kairos’s network in the regional startup ecosystem as well as SMU’s expertise in entrepreneurial know-how to prepare university students for real-world success in venture capitalism and entrepreneurship.

Also Read: Generative AI: Unprecedented adoption rates in 2024

The startup it invested in is ZOLO, an AI-powered B2B software company started by two alumni from two Singapore universities.

Pi Ventures

Pi Ventures is an early-stage venture investor based out of India. The fund focuses on backing product and technology companies in the areas of AI, machine intelligence and IoT. It aims to invest in startups at different stages ranging from early proof of concept and product/market fit stages to the Series A stage.

The startup it backed is Silence Laboratories, a cybersecurity startup focusing on Web3 technologies.

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Singapore-based Rider Dome, which specialises in AI-driven safety solutions for motorcycle fleets and riders, has announced the completion of its US$2.3 million seed funding round.

The investors are local mobility startup investor Goldbell, Radha Rani Holdings Family Office, and undisclosed angels.

Also Read: Generative AI: Unprecedented adoption rates in 2024

“With the strategic partnership of our investors, Rider Dome not only gains financial support but also taps into a wealth of experience and market understanding within the automotive industry. Our investors play a prominent role with a vast network that extends far and wide,” said Yoav Elgrichi, co-founder and CEO of Rider Dome.

Established by Elgrichi, Kineret Karin, and Guy Ron, Rider Dome leverages artificial intelligence to reduce motorcycle accidents and enhance overall rider safety, focusing on the needs of large fleets. Its technology, Advanced Rider Assistance System (ARAS), based on computer vision algorithms, analyses real-time data and detects potential threats on the road.

The startup has worked with companies in various sectors that use motorcycles as part of their operation, including logistics fleets, delivery services, motorcycle rentals, ride-sharing, and emergency services.

Also Read: Diverse investors fuelled Southeast Asian startup growth last week

Rider Dome’s notable clients include Coca-Cola, Singapore Post (SingPost), and The City Council of Barcelona.

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Imaginary Ones, a Singapore-based Web3 entertainment company, has secured undisclosed capital from an oversubscribed funding round led by Cypher Capital.

Animoca Brands, ED3N Ventures, and MH Ventures also participated.

The company will use the money to fast-track the development of its entertainment ecosystem.

Also Read: Animoca Brands to drive Web3 initiatives in Saudi Arabia’s NEOM City

Founded by Clement Chia and David Lee, Imaginary Ones integrates interactive gaming experiences, curated merchandise offerings and content to provide better immersive entertainment.

The Web3 startup shot to fame when it sold out a limited NFT collection of 8,888 fully animated 3D characters on the Ethereum network in a record time.

It has partnered with an international fashion brand, HUGO BOSS, for a 360 metaverse experience. Most recently, Imaginary Ones launched its Web3 gaming series – Bubble Rider and Bubble Rangers – featuring HUGO BOSS Riders and Rangers, which claims to have garnered 6 million plays in three weeks.

With gaming and merchandise under its belt, Imaginary Ones now adds content and film to its Web3 entertainment roadmap.

“Imaginary Ones is built on the promise that if you can imagine it, we can build it. Our Web3 entertainment roadmap brings together gaming, merchandise and content to create the Imaginary World. In the same way that our imagination knows no divide between Web2 and Web3, Imaginary World unites experiences in both the metaverse and in real life, where users play, interact and build together. And within Q1 this year, we will be rolling out our $BUBBLE coin, which will give users access to the entire entertainment ecosystem within the Imaginary World,” said co-founder Chia.

Also Read: Animoca partners with Honda to co-develop vehicle-related gameplay

“The Web3 entertainment ecosystem of Imaginary Ones targets the young adult audience, a segment that plays an important role in facilitating the mass onboarding that will make Web3 ubiquitous,” said Yat Siu, co-founder and Executive Chairman of Animoca Brands.

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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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Getting a business idea off the ground is a dream for an entrepreneur, and this dream becomes a reality and eventually, a success when the idea is backed by funding.

But don’t let money hold you back.

A start-up is a dream visualized by a group of ambitious individuals who want to make a difference. And letting dreams die due to lack of money isn’t a good idea. At the same time, we also cannot deny the fact that it’s not everyone’s cup of tea.

Not every app idea succeeds; not every start-up grows. 

The numbers show that about 30 per cent of small businesses fail to complete two years of operations while only 50% continue to operate after five years.

That may sound a bit harsh, but that’s the truth.

Also, there is a misconception that great ideas secure funding quicker than usual. It is important to understand that investors don’t fund just ideas, but the core team behind the idea, their passion towards achieving goals, their operational capacity, capabilities, skills and management and various other things. 

With increased competition in the mobile space, entrepreneurs need to prove their as well as the app’s capabilities to finally grab funding and sustain the confidence of investors in their idea.

Stats show that investors, today, are rather interested in doubling their bet on proven ideas and established companies than seeding an entirely new start-up. This is probably due to the maturity this market has witnessed over a period of time.

 

Source

How does start-up app funding works?

Broadly, it works in either of two ways, debt or equity.

Either you raise money for your business in the form of debt or make investors believe in your idea and barter your company’s stake with money.

Debt can be in the form of loans from a bank, a microfinance company or any other third-party lender. The repayment of loans involves interest rate, fixed timeline, complete risk and obligation to repay the borrowed amount.

To minimize risk, some entrepreneurs look for equity funding by splitting their ownership with investors. By taking this route, they not only reduce risk but also are under no obligation to repay the borrowed money. However, there are other clauses associated that are discussed and penned down in the form of an agreement between the app’s founders and investors.

How much money do I need?

There are essentially three different areas you’d be requiring funds for, first is for the development of the app, second is for marketing and promotions and lastly for multiple post-launch services like traffic generation, customer service and more.

You need to estimate funds required for each before pitching your idea to investors. Even if you are funding your app from your savings or borrowing money from your friends and relatives, having an estimated amount in mind would certainly help the cause.

Although in the majority of the cases, this estimation proves to be false than what’s required, it helps you start with a planned mindset.

What do I need to do to get my app idea funded?

First things first, you need to have a plan and a process to see things as they come – one at a time. Next comes the way you are going to present your app idea to the investors for securing funds.

Multiple things demand attention, so, to simplify things, we have created a list for you. Before anything else focus on the following.

1. Build an MVP (Minimum Viable Product)

Building an MVP not only helps you take things from paper to a graphical and functional front but also portrays your app’s idea and vision in a better format.

While building a full-fledged app is a tedious and an expensive affair, MVP is cost-effective, do not require much technical knowledge and serves as the proof-of-concept that’ll help you draft an efficient roadmap for the final version of your app.

Moreover, it helps you gain constructive feedback from users, testers and community of professionals highlighting areas that require improvement and also the areas that carry the least importance and hence, can be omitted from the future app versions. For instance, there was a trend to make utility app like- private vault, lock app, Screen locker etc. we had tons of app MVP, but now a days only few survived after MVP launch.

2. Make your brand visible online

Establish your brand on all possible online channels with consistency depending on the personality of your brand. Let your audience be aware of your style of operation and character. Put out things that are easy to remember, relatable and worth remembering, including your brand’s logo, tagline, colour scheme, fonts and everything that can catch the eye of a viewer.

Define the look and feel you want to offer. Learn about the tone of voice your target audience is familiar with. Research your industry, gain insights from your competitors, analyse users and brands in the segment to prepare a plan that works. Later you can build on the feedback from an MVP launch.

3. Prepare an investor pitch

The app deck is the next important thing you’d like to master to secure funding for your app start-up. You cannot leave anything to chance here. You need to prepare a pitch that communicates well. Here are the pointers you need to keep in mind while designing the perfect investor pitch.

1. It should be crisp and clear

2. It should include details about the problem, the solution, the product and the business model

3. It should contain market stats, a brief competitor analysis and potential-to-grow figures

4. It should also have basic financials like investment required, burn rate, revenue projection

5. Don’t forget to include the team’s details

 

4. Shortlist your potential investors

 

It is evident that in the beginning, you’d not be heading to Sequoia Capital for raising funds for your app. Also, not every investor will be interested in funding your app. You need to scrutinize the list of investors for the same finding only the ones who could potentially invest.

Trust plays an important part in raising funds, so skipping the rapport building part by directly looking for investors in your known circle is always a better option. It can be your family, relatives or friends who trust you, believe in you and have faith in your idea and efforts. Research reveals that family and friends invest the most in start-ups.  

Some websites to find investors are AngelList, Funded.com and Angel Investment Network.

5. Ask for referrals

Don’t shy to ask for a referral. Check with your network if anyone has a connection with or knows someone who could lead you to a reputed investor. Getting noticed through a referral would be a great start to the process, who knows you might end up securing funds for your app start-up in the first shot. 

6. Presentation/Demo

Right then, you are finally going to deliver it in front of investors. The real work starts here. Make sure you are well prepared with the deck containing at max 20 slides. Try to sum up things within ten minutes. Make sure you leave room for a Q/A session.

Also, be prepared for queries. You might encounter questions related to your go-to-market strategy, customer acquisition cost, differentiating factor and app validation, so better you do the spadework.

7. Continue trying

Raising funds for an app start-up is not a cakewalk. You, as an entrepreneur, need to be more practical than being optimistic. You might end up getting money, but the offer may not be the most befitting one, and you might decline it, while in some other cases, investors may reject it straight away. You’d hear a lot of NOs than YESes. Make sure to fill in the loopholes and be presentation-ready for the next investor encounter.  

What are my funding options?

Here are a few funding options for you to raise funds for your mobile app start-up.

1. Bootstrapping

This is, by far, the most preferred form of funding. Also known as self-funding, bootstrapping means you build your start-up from scratch with your own money, either through day-to-day sales or savings you had secured for starting your own business. With bootstrapping, you get full control of your start-up and focus on developing and financing your product through sales rather than external financing.

 

2. Equity

Equity funding means you share the ownership of your company in return for capital. The investment companies invest in your idea/concept knowing the risk involved for exponential results they’d gain in the later stages by selling part of their ownership based on the valuation of your company.

Here, you minimise your risk considerably by generating funds from investors; however, you need to prove your mettle and produce exponential results. Depending on the stage your business is at, you can raise money from investors. Following are the different types of funding you can raise, as per your business’s stage, starting from the first to last.

1. Seed funding
2. Accelerators and Incubators
3. Series A funding
4. Series B funding
5. Series C+ funding
6. IPO/Acquisition

3. Debt

Debt funding means you take loans from a financial body to satisfy your short-term business needs like working capital, payroll and other miscellaneous expenses for a stipulated time at a fixed interest rate.

You can approach banks, microfinance companies or any other third-party financing organization for loans. In case of debt funding, you remain in full control of your company but are obligatory to repay the amount with interest rate to the concerning body within a set timeframe.

 

4. Crowdfunding

 

Crowdfunding means accumulating small amounts from a lot of people rather than gaining a big sum of amount from a limited set of people. With crowdfunding, you let people pre-order your product and the funds generated from the sales are used to build the product and ship it to the customers.

It’s an unconventional way of raising funds for your app start-up which requires proper planning, execution and delivery. To get your product crowdfunded, you need to have a business plan, let your customers know about the product – a prototype might help, share your plans, milestones and timelines. 

Crowdfunding websites like Indiegogo, Wishberry and Ketto can help you raise funds for your next big start-up.

It’s time to make things happen

Raising funds is important only to scale and capture a more significant audience base. However, people consider it as a deciding factor for success. History is proof of many start-ups which failed to grow despite securing thousands of dollars of funding and were, eventually, shutdown.

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Image Credit: William Hook

This article was first published on November 12, 2019

 

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In 2020, the world was turned upside down by the news of the pandemic. People were forced into their homes, forever changing the way that we live our lives. Part of this change included the shift to remote work.

During the pandemic, millions of people worked from home nearly exclusively. However, even years after the initial lockdown, reports show that approximately 40 per cent of U. employees still work remotely at least once weekly. Although these numbers have steadily declined since the conception of remote work, there are still many opportunities across the country to work from home. Even years into the post-pandemic world, this business model’s benefits to employers and employees cannot be ignored.

Having and maintaining distributed teams both in and outside the office presents many benefits for the employees within the system. When working from home, a commute is no longer necessary. Not only does this mean saving time at either end of the workday, but it also means that some expenses can be eliminated. Workers no longer have to spend money on gas or food and have greater flexibility before, during, and after the workday.

Under this system, the time given back to employees can be spent with family or friends or enjoying other extracurricular activities and hobbies. Some employees even report fewer meetings during the day when working remotely. Overall, the benefits of remote work help to promote a better work-life balance, which in turn boosts the success and efficiency of the company.

When employees are satisfied with their work environment, their employers and companies also profit. There are several ways that businesses benefit from a remote or hybrid work schedule, most of which stem from employee satisfaction in their position. First, studies have shown that offering work-from-home opportunities can reduce absenteeism. Businesses have seen nearly 60 per cent fewer employee absences and have reported 50 per cent fewer employee sick days. In addition, productivity is on the rise under these parameters.

Also Read: Examining global hybrid and remote work trends beyond the West

Many businesses have seen a 68 per cent increase in employee productivity. Employing this business model also has the potential to lower turnover, reducing employee churn by a shocking 50 per cent. Companies are not only seeing higher employee retention but also saving money per employee. Reports have even gone as far as to estimate that a remote or hybrid work schedule can reduce employee costs by US$20,000 to US$37,000 annually.

Even now, four years after the initial lockdown and the conception of remote work, nearly 100 per cent of people say that they have an interest in working remotely some or all of the time. To make this a reality, businesses have to take several necessary steps to keep up with this demand.

The recipe for keeping teams out of the office starts with strong connectivity platforms. There are many reliable platforms to take advantage of, some of the most well-known being Zoom and Microsoft Teams. Regardless of which platform a business decides to utilise, ensuring that it is working efficiently is imperative to success. When employees are calling in and working from all corners of the country or even the world, making sure that everyone stays connected and communicative is a must.

Another important step is to strengthen cybersecurity and IT tools. When much of a business is taken care of in the digital space, there is an increased risk of cyber attacks. To keep employees and company information safe from such threats, a strong IT team and the subsequent tools are non-negotiable.

Finally, new technology, such as Artificial Intelligence (AI) should be used to optimise business proceedings. For example, advanced software can make schedules and other organisational decisions to ensure that each workday is efficient and runs smoothly. Using this technology will only streamline important processes and take the organisation to the next level.

Combining these techniques and tips can and will prepare a business for the future of the modern workday. Remote work is not going anywhere, and the companies and organisations that embrace it will quickly realise the benefits and find success.

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