Singapore is one of the first countries outside of Europe and North America (and the first in Southeast Asia) to benefit from the environmental and operational benefits of electric construction machinery. That’s because, in early June 2023, Volvo Construction Equipment (Volvo CE) introduced its L25 Electric compact wheel loader, ECR25 Electric compact excavator and the EC55 Electric Excavator into the market.

Electric machines are a much-needed step in the right direction for the construction industry – not just in Singapore but worldwide. The construction industry must change how it operates if it is to help the world meet its 1.5°C climate targets set in the Paris Agreement.

Around 40 per cent of annual global CO₂ emissions are a result of the built environment, whether from building operations or the embodied carbon produced in construction.

Over the next 40 years, around 240 billion m² of new floor area is estimated to be added to global real estate (the equivalent of building an entire New York City each month), underlining the need to reduce the carbon footprint in all aspects of construction.

Silence is golden

The near-silent operation of electric machines will be an important benefit in the bustling city-state of Singapore. With the noise of large diesel engines removed from the soundscape, working hours can potentially be extended into unsocial hours without overly disrupting local communities.

Similarly, by removing almost all the emissions from the machines, new applications can open up, such as working indoors. In the enclosed spaces typical of basement groundworks, for instance, there is no longer any need for costly fume-extraction systems.

By simultaneously removing the vibrations that can lead to headaches, fatigue and back pain, the cab also becomes a more pleasant environment for the operator. Owners will benefit further when tendering for work as property developers and industrial facilities increasingly prioritise suppliers with superior sustainability credentials.

Also Read: How the right ecosystem energises greentech startups

There’s no doubt local communities will enjoy the cleaner air and reduced noise pollution that comes from electric machines. As will the construction crews on the job site, working in close proximity to the machines. These work crews will also benefit from clearer communication enabled by silent operation, meaning site safety is enhanced. The option of a white noise can be added to facilitate situational awareness.

Although the volumes of construction equipment sold in Singapore (and the rest of the world) are small in comparison to cars, trucks and motorcycles, it pays to consider how they are used. Unlike most cars and motorbikes, for example, many construction machines are typically used for eight hours (or more) a day.

So, the replacement of one diesel-driven machine with a battery-powered alternative will produce a proportionally larger environmental improvement in a shorter period. For that reason, incentives to stimulate uptake among construction and industrial companies could help drive significant change.

Overcoming challenges

Of course, there are some challenges to overcome as we push towards the wide-scale adoption of heavy-duty electric machines. One is charging in remote areas away from mains power or renewable energy installations.

One option to meet this challenge, at least for short-term use, comes from our sister company, Volvo Penta, which recently developed BESS, a modular, scalable battery energy-storage system. And over the longer-term investment can help deliver better charging infrastructure. For this, the industry (including ourselves) needs to work with governments and others to help deliver solutions.

Then, there is the issue of battery disposal. Those used in Volvo CE’s electric range are designed to last the full life expectancy of each machine, and at the end of their life, the company has pledged to take responsibility for recycling them. We are also working together with waste contractors and others to maximise the recycling rate while exploring second-use possibilities to prolong battery lifetime in other applications.

Also Read: How electric mobility startups are tackling climate change in Asia

For owners, there’s also a question of perception around electric machines, particularly around power and performance. But the good news is that any sense of inferior performance is unfounded. The reality is the new models give nothing up.

For example, the 40 kWh lithium-ion battery of the L25 Electric wheel loader still allows for a maximum travel speed of 20 kph, with even greater off-road traction, while the slightly heavier operating weight enhances safety by enabling a higher static tipping load.

Likewise, the small increase in operating weight resulting from the 20 kWh battery array of the ECR25 Electric is countered by the delivery of more continuous motor power, while its bucket provides a similar digging force to other compact excavators in its class.

Some of the world’s greatest changes have been made without making a sound – and it won’t be any different this time. As part of Volvo CE’s goal of achieving net-zero value chain greenhouse gas emissions by 2040, we already have the widest range of electric equipment on the market – and we are committed to growing this all the way up to heavy equipment. In fact, we aim to have 35 per cent of the machines we sell powered by electromobility by 2030.

For Singapore’s construction industry, change starts here.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

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This article was first published on September 6, 2023.

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AIS The StartUp, a programme run by Thai digital infrastructure provider Advanced Info Service Public Company Limited (AIS), has announced a collaboration with the Stock Exchange of Thailand (SET), the National Innovation Agency (NIA), and the Thai Startup Association to educate local entrepreneurs about the importance of integrating ESG (environment, social, governance) principles into business processes.

Also Read: Givvable uses AI to automate supplier sustainability and ESG Monitoring

The ‘ESG to Capital for Tech Entrepreneurs’ initiative aims to strengthen local tech entrepreneurs by enhancing their understanding of applying ESG (Environment, Social, Governance) principles to analyse investment risks and assess company valuations, especially in establishing fundamental ethical dimensions, such as corporate governance, partnership governance, financial governance, or shareholder governance.

According to AIS StartUp Programme Manager Dr Srihathai Prammanee, this initiative gathers knowledge from various perspectives, including state policy perspectives on sustainable development and relevant working directions supporting startups and driving the country’s digital economy.

The ESG to Capital for Tech Entrepreneurs programme includes robust content from partners and speakers from leading national organisations who will share experiences and exchange insights throughout the full three-month duration.

Also Read: AC Ventures: Investors put more focus on ESG, but Indonesian startups seem “well-positioned” for this shift

“We believe that the key to sustainable growth for startup entrepreneurs does not solely rely on capital, but also on skills, knowledge, digital tools, solutions, and even market access and customer base. Therefore, the approach of Partnership for Inclusive Growth has been upheld by AIS The StartUp consistently. This approach can propel entrepreneurs to establish a robust business foundation, especially through strategising ESG, which significantly impacts business operations. It reduces risks, prepares readiness, and opens doors to opportunities for accessing the capital market and scaling up the organisation’s growth in the future,” Prammanee noted.

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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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Let us put this debate to rest – creativity and technology are not enemies; they are partners. In the recent SXSW Australia, ad veteran David Droga says that he did not want to “have to choose between the march of technology and the purity of creativity, and only one of them can survive. Creativity needs technology to be real; technology needs creativity to be more relatable and human.”

Generative AI has swept the world by storm.

Love it or hate it, it is probably going to change the world. But creatives all over the world have been at loggerheads with generative AI—and for good reason. Lawsuits abound, alleging companies stealing writers’ copyrighted work without consent or compensation, musicians worry about AI taking their voice, and artists are filing class-action lawsuits against AI imagery generators.

The symbiosis of technology and art

It is not a good look for generative AI. But historically, technology stimulates creativity – just like how art imitates life.

In 2013, Pew Research Center found that most art organisations tend to agree that the internet and social media have “increased engagement”, and made art a more participatory experience, and that they have helped make “arts audiences more diverse.”  They also tend to agree that the internet has “played a major role in broadening the boundaries of what is considered art.”

A lot of things have changed since 2013, but the fact of the matter is that technology is simply a tool that people use for creativity. Technology has democratised creativity—where one had to have a book publisher, manager or go to expensive art schools to become a professional author, singer or artist, now one can carve out a space for themselves on the internet.

Using a plethora of writing tools, music software, and art platforms — all made possible by the growth of technology. Video games, an explosion of creativity and art, are tech itself. It is built upon code, typed out on machines, and consumed almost solely via the internet. The truth is that technology can, and usually, begets creativity.

If the internet and social media increased engagement in 2013, that engagement is only going to skyrocket now.

Also Read: Is AI the end of originality or a new dawn for creativity?

According to Accenture’s Life Trends 2024, 42 per cent are already comfortable using conversational AI to find product recommendations, and 39 per cent are excited about conversational answers instead of standard internet searches. Generative AI could potentially give businesses an opportunity to shape a “more relatable, human-like representation of the brand.”

Every good partnership has boundaries

However, the relationship between technology and creativity, or art, must have boundaries in order to succeed. We have seen this before: a new technology comes about, complicates things, and then creativity thrives. For instance, when drawing tablets emerged, people claimed that digital art wasn’t real art.

In June of this year, DBS ignited a fervent debate by harnessing the power of AI art tools during an internal event. This sparked a dichotomy of perspectives: on one side, graphic designers voiced apprehensions, particularly about tools like Midjourney potentially utilising artists’ works without consent, raising concerns about ethical practices and the potential negative impact of AI-generated art on human artists’ livelihoods and urban culture. Conversely, DBS defended the internal event, underscoring its commitment to familiarising employees with cutting-edge AI technology.

At the end of the day, generative AI is just another tool. But for this certain tool to work, we need to make sure boundaries are in place. Legal experts have noted potential copyright infringement issues and the lack of disclosure of datasets used by generative AI systems. We need to make sure that generative AI doesn’t steal artists’ work or diminish the job of an artist. This can be done through regulation.

For instance, the EU proposes that generative AI should have to comply with transparency requirements, such as disclosing that the content was generated by AI, designing the model to prevent it from generating illegal content, and publishing summaries of copyrighted data used for training.

Also Read: Creativity at the heart of business growth

Closer to home, the Association of Southeast Asian Nations (ASEAN) is in the process of formulating governance and ethics guidelines for AI. Analysts anticipate that these guidelines will propose “safeguards” aimed at minimising recognised risks associated with artificial intelligence.

Gen AI in the ad space

Generative AI could make ads fun again.

How many mediocre ads have you seen this week? A hundred? A good ad is so hard to come by these days, that on the rare occasion that one does emerge, articles get written by it. The ads for mobile games, for some fitness app, for an investment course—these ads contain zero creativity whatsoever.

The small businesses making these ads aren’t hiring artists and creatives to boost downloads or sales; they’re using whatever resources they have, ill-equipped with creativity, just to push something out onto the internet to get themselves heard. All that results in are people staring insolently at the countdown before they can skip the ad.

Generative AI could potentially change all of that.

As Droga said, we could cut out the mediocrity. The ad space is the perfect medium for this. In a world full of half-baked, low budget ads, campaigns for arbitrary marketing’s sake, generative AI could come in and rid us of the vapid ads that plague us. It’s a win-win for everyone involved: better ads for small companies and better ads for consumers.

The Accenture Life Trends report agrees—while the mediocrity challenge might even get worse as generative AI becomes a bigger player, investing in human creative talent who are keen to break the tried and tested technology templates is imperative. “Skilled creatives must be involved in the use of generative AI”; because at the end of the day, humanity, creativity and tech don’t exist in separate vacuums.

Ultimately, creativity will always involve humans. What we need to do is to create a fair future where the creativity of humans can work together with the transformative nature of tech. What we need to focus on right now, above all, is regulation, regulation, and regulation. Only when we have set just boundaries around this partnership can we flourish from it.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image courtesy: Canva

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In 2024, cybersecurity incidents have become a matter of “when,” not “if”. With organisations of all sizes – from established enterprises or new startups – today storing most of their valuable information digitally, no one is spared by attacks from cybercriminals.

As a leading digital hub in the region, Singapore has seen its fair share of cyberattacks in recent years. Online marketplace Carousell previously reported a data leak that affected around 2.6 million users, with the database sold on the Dark Web and hacking forums. More recently, Marina Bay Sands, Singapore’s iconic luxury hotel, saw the email addresses and mobile phone numbers of its Sands Lifestyle rewards program members accessed in a data breach.

For startups especially, security breaches can make or break the business, leaving behind devastating consequences that go beyond mere monetary loss. As a new entrant to the market, tarnished brand reputations and eroded customer trust, along with possible legal implications, can have a profound impact on the business.

In this landscape, organisations cannot afford to take a reactionary approach toward cybersecurity and need to have a tailored and specific plan in place to prepare for near-inevitable cyberattacks.

A good starting point for this is the cybersecurity Incident Response Plan (IRP).

What makes a good IRP

The IRP is a critical document that prepares an organisation for handling a security incident. It documents a list of procedures that details specific actions to take, pertaining to cyber threat detection, response, and recovery. This helps the organisation consolidate resources and respond quickly during a security incident.

Also Read: Demystify cybersecurity: EPP vs EDR vs MDR vs XDR

A good IRP documents the roles and responsibilities of the relevant stakeholders across the organisation that make up the incident response team. For instance, it identifies the incident response managers who would decide on the appropriate response plan during a cyberattack, the security analysts who would review security logs and detect suspicious activity in the IT landscape, and the communication teams who would inform affected stakeholders regarding the cyber incident.

It should also make clear how security events and security incidents are defined and categorised. Not all events become incidents; a security event should only be recognised as a security incident when it produces consequences, such as a violation of confidentiality, integrity, or availability of your organisation’s systems or data.

Putting the IRP into action

In the context of a data breach, the IRP should cover:

Immediate actions upon breach detection

Upon breach detection, organisations should investigate their security reports and alerts to ensure that the incident is not a false positive. Once validated, they should collect incident data – through tools such as Security Information and Event Management (SIEM) – for an initial assessment of the extent and impact of the breach. Stakeholders, such as the leadership, IT, communications, and legal teams, should also be notified at this stage.

Damage control for affected parties

Following the verification of a security incident, the next step is to contain and eliminate the threat. Here, the IRP should list out possible response procedures and strategies to contain and mitigate the threat, followed by a recovery plan. This could entail re-installing affected systems, restoring data from backups, or changing users’ passwords if passwords are compromised.

Also Read: How an AI cybersecurity company harnesses the power of AI for optimal business performance

Preparing and relaying a public response

Concurrently, the organisation should develop a communication plan to ensure the effective and timely delivery of information to relevant stakeholders, including employees, customers, law enforcement, and the media. It is important that the communications team, together with legal advisors, craft clear communications, conveying urgency, transparency, and responsibility. Having proactive updates using insights from SIEM can be helpful in demonstrating the real-time status of the attack and the effectiveness of containment measures.

Strategies for remediation and recovery

In the aftermath of a cybersecurity incident, IT and leadership teams will need to conduct retrospective analysis to understand the root causes of the incident and take steps to ensure that the vulnerability is addressed. Proactive and transparent communication on efforts taken to reduce vulnerabilities will play a pivotal role in trust restoration.

In today’s ever-evolving cybersecurity threat landscape, the need for a well-crafted IRP cannot be overstated. Cyberattacks have become a pervasive threat, and it is clear that merely reacting post-incident is no longer sufficient. Moving forward, proactive planning will be key to building cyber resilience.

As we navigate the digital age, the case for a robust Incident Response Plan stands stronger than ever, as it not only safeguards against cyber adversaries but also fortifies the foundation of a company’s brand trust and integrity.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image courtesy: Canva

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WYZauto, an online tyre marketplace for vehicle maintenance businesses in Thailand, has secured US$2.25 million in a pre-Series A funding round led by Vynn Capital through its new Mobility and Supply Chain fund.

Vincent Lee, an early investor in Carsome, Oak Drive Ventures, and existing shareholders, including Philippines-based Kaya Founders, joined the round.

Also Read: No time to have your car serviced? MisterTyre comes to your aid at the tap of a button

Launched in April 2021 in Thailand and May 2023 in Malaysia, WYZauto is a digital enabler for automotive maintenance shops. It connects two-wheeler and four-wheeler vehicle maintenance businesses with top tyre brands. The company works with numerous wholesalers and brands, helping them increase their e-commerce presence and reach new customers.

The startup will soon expand its coverage to include other vehicle parts, aiming to streamline its maintenance supply chain.

Nearly 3,000 vehicle service centres have downloaded the WYZauto app, generating over US$1.6 million of GMV/month.

WYZauto expanded into Malaysia last year. Vynn Capital, with its deep understanding of the Malaysian market and leadership in mobility investments, will actively support WYZAuto’s expansion there. Vynn aims to facilitate mutually beneficial partnerships that accelerate WYZauto’s growth within the Malaysian market by leveraging its existing connections, particularly in the mobility and supply chain sector.

Also Read: AIS The StartUp, SET, NIA to educate Thai entrepreneurs on ESG principles for sustainable growth

“The vehicle maintenance sector in Southeast Asia has room for significant growth. WYZauto is positioned exactly where the market needs it: their streamlining of the tyre supply chain creates a win-win situation for both repair shops, maintenance networks, wholesalers as well as brand manufacturers, driving efficiency and cost savings. We have an optimistic outlook for the company’s growth trajectory and look forward to supporting WYZauto’s continued expansion across countries like Malaysia, the Philippines, Indonesia and Thailand,” said Victor Chua, Founding & Managing Partner of Vynn Capital.

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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 WYZauto nets US$2.25M to connect vehicle maintenance businesses with tyre brands in Thailand appeared first on e27.

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

In today’s dynamic landscape, countless innovative ideas with the potential to profoundly impact the world emerge from early-stage startups. However, the journey from conception to realisation is fraught with challenges, particularly the barrier posed by limited capital.

Early-stage startups often grapple with a host of challenges arising from the lack of capital. These hurdles encompass various operational aspects, including hiring skilled personnel, developing products or services, and scaling the business.

With limited financial resources, startups face the difficult task of prioritising where to allocate funds, often leading to underinvestment in critical areas like marketing or research and development. This financial constraint can impede the startup’s ability to gain traction in the market, innovate, and effectively compete against more established players. Furthermore, the pressure to conserve capital can stifle creativity and risk-taking, limiting the startup’s potential for growth and success.

Also read: Strategic outsourcing: How iScale Solutions helps you grow your team

In addition to the challenges posed by limited capital, early-stage startups often struggle with accessing the necessary resources to execute their business plans effectively. From securing office space and equipment to investing in technology and infrastructure, startups require substantial upfront investment to establish their operations. Without adequate funding, startups may find it challenging to acquire the tools and resources essential for their day-to-day operations, hindering productivity and growth. Moreover, the lack of capital can limit the startup’s ability to attract top talent, as competitive compensation packages may be out of reach without sufficient funding.

As a result, the world risks missing out on the profound societal benefits and advancements that these innovative startups could otherwise deliver. Thus, the critical importance of adequate capital in empowering these early-stage ventures to thrive and positively impact the world cannot be overstated.

Helping startups reach their full potential

Venture capitalists (VCs) play a pivotal role in addressing the challenges brought about by the lack of capital for early-stage startups. Beyond providing much-needed funding, VCs offer invaluable expertise, industry insights, and strategic guidance to help startups navigate the competitive landscape. Their extensive networks can open doors to potential partnerships, customers, and additional sources of financing, accelerating the startup’s growth trajectory. Moreover, VCs often take a long-term approach, providing ongoing support and mentorship to help startups overcome obstacles and pivot when necessary. By serving as catalysts for innovation and growth, VCs significantly enhance the chances of success for early-stage startups.

Championing innovation, VCs are dedicated to nurturing startups and guiding them toward success. Their mission extends beyond mere financial investment, aiming to empower entrepreneurs to realise their visions, drive economic growth, and effect positive change in society at large.

Taking on this mantle is Antler, the investor backing the world’s most driven founders from day zero to greatness. Founded on the belief that people innovating is the key to building a better future, Antler partners with exceptional founders across six continents to launch and scale startups that address meaningful opportunities and challenges.

Also read: How AppsFlyer helps brands navigate a rapidly evolving market

As the most active early-stage VC globally, Antler has invested in more than 1,000 startups across 30 cities worldwide including Singapore, Indonesia, Vietnam, and Malaysia in Southeast Asia. Antler’s global community backs people from the beginning with co-founder matching, deep business validation, and pre-seed capital. Besides being the earliest backer for startups, Antler is also a long-term capital partner that provides expansion support and scale-up funding to breakout companies from Series A onwards.

Aligned with Antler’s commitment to empowering today’s most exciting innovators, they will be joining Echelon X this May 15 to 16 at the Singapore EXPO where they will be engaging with ecosystem stakeholders to meet and potentially collaborate on the next great thing.

“We back the world’s most driven founders from day zero to greatness. Apart from scouting for them during the event, we will also be showcasing selected founders of our portfolio companies to showcase their startups to investors present at Echelon,” shared Ryan Thoo, VP for Marketing & Growth at Antler.

Get to know Antler and more at Echelon X

Keen on meeting founders, entrepreneurs, startup early-employees, domain experts, startup operators, CEOs, CTOs, CBOs, CCOs, COOs, country managers, and heads of different departments, Antler is looking forward to identifying and backing the most promising entrepreneurs and tech talents where they will be showcasing how Antler is a strong option to build startups with and get deal flow from.

Antler is one of the many exciting industry leaders from across the Southeast Asian region who will be joining us for Echelon X. Joining Antler are other key leaders, visionary entrepreneurs, and groundbreaking startups from all corners of the region who will be gathering together for two packed days. Happening on May 15 to 16 at the Singapore EXPO, Echelon X will feature dedicated content stages, exhibitions, panel discussions, and more — all to support and empower the tech startup ecosystem with actionable insights through a series of knowledge-sharing activities.

Also read: What is Remote? Meet this top global HR platform at Echelon X!

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 endless!

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Photo by Sora Shimazaki via Pexels

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This week witnessed a flurry of venture capital activity in Southeast Asia, with startups from various sectors raising significant funds to fuel their growth and expansion plans. From Singaporean proptech innovators to Vietnamese SaaS providers and Thai digital marketplaces, these startups are poised to make waves in their respective industries.

Let’s take a closer look at the standout fundraisers and their ambitious visions for reshaping the regional business landscape.

Probiotics (Singapore)

Probiotics is an antimicrobial peptide technology startup in Singapore. It is engaged in researching and producing recombinant antimicrobial peptides, using novel biotechnology to reduce the manufacturing costs of antimicrobial peptides.

Its first product targets the aquaculture industry, renowned for its antibiotic abuse, where bacterial infections cost shrimp farmers billions in yearly losses.

Funds raised: US$6.2 million
Investors: Seventure Partners, SEEDS Capital, The Yield Lab Asia Pacific, GrainCorp Ventures, Farmabase, Trendlines Agrifood Fund, Ponderosa VC, and others.
Round: Series A

CNV (Vietnam)

Founded in 2020 by Nguyen Tuan Phu and Do Dang Khoa, CNV offers digital transformation SaaS products and marketing growth services to assist enterprises in Vietnam to achieve sustainable growth via marketing, loyalty and e-commerce activities.

CNV currently serves over 2,0000 customers, including multinational corporations, local enterprises, SMEs, MSMEs, and government agencies, helping them optimise their client-facing activities and backend customer data platform analysis activities.

Funds raised: US$1 million
Investors: Wavemaker Partners
Round: Not specified

Mindverse (Singapore)

Founded by former Meta execs and top AI researchers in 2022, Mindverse has developed Artificial Diversified Intelligence (ADI) using the Large Personalisation Model (LPM). Mindverse offers two products: MindOS Studio, which helps businesses create AI-native websites with dynamic, personalised chat experiences, and Mebot, which offers individuals an individualised experience that matches their unique nature. It acts as a digital “second brain” to enhance productivity by learning and analysing user habits, ideas, and preferences.

Funds raised: US$5 million
Investors: Seed
Round: Square Peg (lead)

WYZauto (Thailand)

WYZauto is an online tyre marketplace for vehicle maintenance businesses in Thailand. Launched in April 2021 in Thailand and May 2023 in Malaysia, WYZauto connects two-wheeler and four-wheeler vehicle maintenance businesses with top tyre brands. The company works with numerous wholesalers and brands, helping them increase their e-commerce presence and reach new customers.

Funds raised: US$2.25 million
Investors: Vynn Capital, Vincent Lee, Oak Drive Ventures, Kaya Founders
Round: Pre-Series A

RedDoorz (Singapore)

Founded in 2015, RedDoorz is a technology-driven hotel management company which works with hotels to provide affordable and reliable stays in all major cities and destinations across the region. RedDoorz has operations across more than 80 cities in four countries in Southeast Asia, namely Singapore, Indonesia, the Philippines and Vietnam.

Funds raised: US$28.2 million
Investors: Asia Partners, Mirae Asset Venture Investment, others
Round: Not specified

TradeTogether (Singapore)

Led by CEO Geoff Ira, TradeTogether is a Web3 digital asset management company. The TradeTogether Bitcoin Advantage Fund allows clients to invest in Bitcoin with added protection against market downturns, offering a better experience than traditional ETFs. The startup also provides high-net-worth individuals and financial institutions with transparent solutions in tokenised bonds and Web3 products for receivable financing, moving away from the DeFi platform model.

Funds raised: Undisclosed
Investors: XVC Tech
Round: Not specified

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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 Southeast Asian startups secure millions in venture funding this week appeared first on e27.

Building strong communities based on shared values is essential for tackling urgent issues like disaster response, climate action, and access to water. It drives societal change by fostering accountability and active citizenship. Moreover, it boosts political involvement, strengthens social ties, stimulates economic development, expands educational prospects, provides family assistance, and enhances communal connections.

Active community participation offers numerous advantages. For example, engaging in initiatives like knowledge sharing and collaboration fosters belonging, enhancing mental well-being, empathy, and resilience. A survey found that 61% of respondents experiencing a strong sense of belonging through community engagement have excellent mental health. Additionally, involvement in the community cultivates skills, promoting personal and professional growth and empowerment for independent living. Entrepreneurs are more likely to succeed when actively participating in communities and networks that foster entrepreneurial learning and business opportunities.

SAFE STEPS D-Tech Community Hub: A One-Stop Platform to Tackle Disaster Risk Reduction

SAFE STEPS D-Tech Community Hub is a pioneering initiative poised to redefine Disaster Tech (D-Tech) through the fusion of technology, innovation, and community collaboration. At its essence, the SAFE STEPS D-Tech Community Hub transcends the conventional notion of a mere platform; it represents a ground-breaking endeavour. It stands as the world’s first universally accessible space where stakeholders in the disaster tech sphere converge. From emerging start-ups to established entities, from investors to policymakers, this hub serves as a centralised nexus for sharing expertise, pooling resources, and fostering concerted efforts toward a singular objective: building a more resilient world for the future.

Also read: Navigating In-Store Innovation: A Dive into Ingenico’s StartupIN Program

The SAFE STEPS D-Tech Community Hub was among various initiatives initiated by the Prudence Foundation, in partnership with e27, the International Federation of Red Cross (IFRC) and Amazon Web Services (AWS).

Introducing SAFE STEPS D-Tech Community Hub through the Virtual Launch

The virtual launch of the SAFE STEPS D-Tech Community Hub, taking place on March 26 via Zoom, was an enlightening event, uniting stakeholders dedicated to advancing disaster resilience. The event brought together individuals, start-ups, experts, and organisations to exchange ideas and forge partnerships for a safer world. Emphasising collaboration, the event showcased community-driven innovation in disaster response, featuring reputable speakers including Diana Guzman from Prudence Foundation, Sanjay Srivastava delivering the keynote address on behalf of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), Jaron Lim from Wateroam, Josh Kao from LivingWater Systems, Anthony Chua from StratifiCare, among others.

Also read: Strategic outsourcing: How iScale Solutions helps you grow your team

Through knowledge-sharing and cooperation, the hub empowered stakeholders to leverage collective expertise and resources for sustainable solutions. A key feature of the event was the panel discussion “Leadership in Disaster Tech,” where speakers offered insights on how technology and partnerships can combat natural disasters effectively, urging start-ups, organisations, and investors to lead the charge in fostering resilience. 

Key Takeaways from the Virtual Launch

In the keynote presentation, Sanjay Srivastava highlighted that in an era characterised by escalating disaster emergencies, societies struggle with increasingly complex risks that pose multifaceted challenges to people, cities, infrastructure, and ecosystems. Moreover, risk amplifiers such as climate change, rapid urbanisation, and residual vulnerabilities exacerbate the severity of these threats. For instance, research pointed out that a 1.50C increase in average global temperature would place 85% of the global population at risk, and cause an annual loss of up to $953 billion.

However, amid these challenges, there exist significant opportunities to build resilience. “Technological innovations are rapidly transforming the landscape, offering new solutions and avenues for mitigating risks. Moreover, the convergence of technology and data ecosystems presents opportunities for harnessing vast amounts of data through cloud computing and big data. Furthermore, the democratisation of platforms allows for the scaling of technology and data platforms, facilitating policy reforms and empowering diverse stakeholders to contribute to resilience-building efforts,” expressed Sanjay Srivastava.  

In fact, participating speakers also shared their insights and innovative solutions to leverage the opportunities to mitigate rising obstacles. For example, Jaron Lim from Wateroam shared about how its easy-to-use and portable water filters help to provide safe drinking water in rural and disaster-stricken areas. Teaming up with humanitarian organisations like the Red Cross and World Vision, the company has supplied safe water to 100,000 people in 38 countries. “For our journey, collaboration, the generous financial support and networking opportunities offered by Prudence, e27, and more are critical, empowering us to reach our goals and serve the community. We are very grateful, and we would also want to invite everyone to join us in the Community Hub space to tackle the world’s water crises head-on together,” commented Jaron Lim.

Also read: How AppsFlyer helps brands navigate a rapidly evolving market

Similarly, Anthony Chua emphasised how Stratificare tackled a vital issue in Dengue disease management: predicting progression from mild to severe dengue. “Thanks to networking opportunities with leading physicians and industry advisors through initiatives such as the SAFE STEPS D-Tech Community Hub, Stratificare succeeded in inventing the world’s first patented dengue prognostic test to save more lives,“ shared Anthony Chua.

As announced during the virtual launch, participants joining the hub can also enjoy various perks such as networking opportunities for all stakeholders in the D-Tech space and providing access to valuable resources such as training, mentorship, funding, and the SAFE STEPS D-Tech Awards.

By joining the community, participants in the D-Tech space can help to create lasting solutions and partnerships that safeguard communities and contribute to a more resilient world for the people of the future.

After the virtual launch

Ever since the launch of the hub, the following startups joined the community as part of their commitment to help sustain our planet: Wateroam, LivingWaters Systems, StratifiCare, Solnovation Analytics Sdn Bhd Malaysia, DayZero Water, SI Analytics, Usher Technologies, H3 Dynamics, Kinetic Analysis Corporation, QUICKBLOCK, and Kacific Broadband Satellites among others.

A number of partners also became members of the community to contribute their work as well to global disaster resilience: International Federation of Red Cross (IFRC), Amazon Web Services (AWS), ALSiSAR IMPACT, Stimson Center, iCube Innovation, Ideaspace & QBO, Plan International, Asian Venture Philanthropy Network (AVPN), and Philippine Disaster Resilience Foundation (PDRF) among others.

If you’d like to know more and be part of the growing SAFE STEPS D-Tech Community Hub, be sure to visit www.safestepsdtech.com.

The post D-Tech Community Hub: Safeguarding communities through collaboration appeared first on e27.

Skills gap continues to become a problem in various markets, but an AI solution might be the answer that they are looking for. This is the exact premise of what Primeskills, an Indonesia-based startup, offers to its users.

“Our vision is to solve a well-known problem called the skills gap between industry and graduates. This gap is caused by the fact that graduates are not learning the practical soft skills that are necessary for today’s workforce. We use AI and immersive tech to help people learn these skills in a fun and engaging way. Gamification can be used to make learning more enjoyable and to motivate people to keep learning,” explains CEO William Irawan in an email to e27.

“Immersive tech can provide a more realistic and engaging learning experience than traditional methods. This can help people to learn more effectively and to retain the information that they learn. AI can be used to personalise the learning experience and to provide feedback to learners. This can help people to learn at their own pace and to get the most out of the learning experience.”

Primeskills offers three main solutions to tackle the problem of the skills gap: Immersive Module Library (Offered through licensing business models), LMS + VR Analytics (Offered through subscription), and Custom Module Creation (Offered through services and licensing).

These solutions work by placing people in a focused VR environment and analysing their interaction with AI-powered characters. It then analyses the user interaction data to provide personalised feedback and analysis that helps them upskill 4x faster than other alternatives, says the CEO.

Also Read: In the age of AI, which human skills increasingly stand out?

“Our users are currently enterprise employees and university students who are looking to improve their soft skills in order to land their dream jobs or climb the corporate ladder. We often acquire new users through word-of-mouth from our clients and portfolios being showcased, social media, and B2B events. We are always looking for new ways to reach our target audience and help them achieve their goals,” Irawan elaborates.

Primeskills says that it has implemented its solutions to over 10,000 people, distributed over 300 headsets to various sectors in Indonesia (including enterprises, government, and universities), and achieved over 90 per cent high satisfaction ratings from customers.

Behind the solutions

Primeskills was co-founded by Irawan, CTO Feraldo (who is a software engineer with a passion for AI and advanced technology that has a special focus on VR/AR development), commissioner Kiwi Aliwarga (a business advisor who is passionate about technopreneurship in Indonesia), and COO Windy Widjaya (who has a background in branding and analytics).

As one of the companies that participated in the EduSpaze accelerator programme, Primeskills sees the value in participating in the programme that has introduced them to mentors, trainers, and experts.

“Primeskills is committed to providing immersive and accessible soft skills solutions through various platforms. We are planning to integrate AI to help people identify their skills and personalise their learning experience,” Irawan closes.

“Generative AI technology also helps us produce modules faster and deliver solutions to our partners. We are always looking for ways to improve our business model and route-to-market strategy.”

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Image Credit: Primeskills

The article was first published on September 7, 2023.

The post Closing the skills gap: How Primeskills utilises AI to bridge the divide appeared first on e27.

As a junior partner at McKinsey, Ani Bhalekar used to travel between Singapore and Brisbane weekly. Frequent journeys resulted in his back pain, and he was advised to do full-time physiotherapy.

However, full-time therapy was not practical for a frequent traveller like him. Online physiotherapy was the only option, but scheduling was an issue. This motivated him to develop a virtual physiotherapist.

Also Read: Is AI the end of originality or a new dawn for creativity?

Based in Singapore, EliteFit.AI aims to democratise fitness by providing a personal trainer to everyone across physiotherapy, rehab, assessments, sports coaching, dance training, and yoga. Users can use this browser-based application on any device — smartphones, tablets, and laptops — and exercise anytime, anywhere. No additional devices or app downloads are required.

The user is given an accuracy score based on their performance. If the user makes a mistake, it provides prescriptive feedback in terms of audio cues and stickers.

“EliteFit.AI can work across 10,000+ micro-movements, and we have over 3000 full-length videos available on our platform,” Bhalekar said. “Initially, it was challenging to create the product because its model was limited by the number of movements it could recognise. Throughout multiple iterations of training on thousands of videos from the database, it is now a generalised AI model which can train on any video provided.”

Currently, most of its users come from its distributor partners — fitness companies, healthcare companies, insurance companies, the public sector, and sports organisations. The product can be integrated into healthcare, fitness, insurance, and sports apps/sites.

Since Elitefit.Ai is a SaaS tool, the startup sees a massive opportunity to expand into other parts of the world and scale across millions of users across different industries.

Bhalekar also claimed that EliteFit.AI is already profitable.

Also Read: Safeguarding your organisation in the age of increasing AI

The startup has so far received an SGD300,000 (US$220,000) SportSG cash grant. It now looks to raise US$5 million in venture capital to build and expand the team, foray into the US, and experiment with B2C value propositions.

Leveraging AI, EliteFit.AI offers a virtual personal trainer accessible on any device, providing personalised fitness training without appointments or downloads. This browser-based solution empowers users to exercise anytime, anywhere, with millions of users on the horizon and global expansion planned. EliteFit.AI plans to transform not just fitness accessibility, but also its bottom line, achieving profitability already.
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