Rize, an agritech platform aiming to make sustainable rice cultivation viable through innovative and data-driven practices, has closed its USD$14 million Series A funding round.

Breakthrough Energy Ventures, GenZero, Temasek, and Wavemaker Impact co-led the round.

This round will enhance Rize’s technology stack, including its measuring, reporting and verification (MRV) technology.

Also Read: Wavemaker Impact backs Australian climate-tech startup MetroElectro

The capital will also enable it to expand its operations deeper into Indonesia and Vietnam and help strengthen its team of agronomists to over 100 by the end of 2024, potentially reaching over 20,000 farmers. The firm also plans to expand into other rice-producing South and Southeast Asian countries in 2025.

Rize was formed through a joint venture between Temasek, Wavemaker Impact, Breakthrough Energy Ventures and GenZero to decarbonise rice cultivation in Asia. It is building a platform to identify and implement effective strategies to reduce greenhouse gas (GHG) emissions in rice cultivation and the right economic incentives across the value chain to drive the adoption of sustainable cultivation techniques.

Its technology stack captures vital agricultural data essential for implementing sustainable farming practices, making rice farmers more climate resilient, increasing their crop yields, lowering costs, and facilitating efficient access to finance. Rize aims to eliminate 100 metric tonnes of carbon emissions while improving farmer livelihoods.

“We are confronted with the challenges of addressing the high levels of methane emissions and the water-intensive practices prevalent in rice farming, which accounts for 10 per cent of global methane emissions, a figure that is set to rise if unchecked,” said Dhruv Sawhney, CEO of Rize.

“Another hurdle is the lack of precise data, particularly among the numerous smallholder farms across South and Southeast Asia, as well as the increasingly high cost of farming due to increased input prices and a changing climate. Our technology stack seeks to tackle these challenges. By doing so, we are not just aiming to cut down 100 million tonnes of carbon emissions, we are also enhancing the economic stability of farmers, ensuring that improved farmer livelihoods and reduced emissions go hand-in-hand,” he added.

Also Read: Wavemaker Impact debut fund makes final close at US$60M

Rize aims to improve over 7,000 hectares of rice farming this coming season. These initiatives are projected to lower emissions by 50 per cent, reduce water usage by 20 per cent, and increase farmer incomes by up to 30 per cent, making sustainable rice farming a viable and attractive option.

“Our platform, and the data it captures, is pivotal in modernising rice farming, leveraging technology to enhance yield and efficiency sustainably,” remarked Sawhney. “Given that producing a single bowl of rice requires over 200 litres of fresh water, and considering that the entire rice industry accounts for more than a third of the world’s irrigation water, the urgency to adopt sustainable methods is clear.”

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With Singapore aiming to achieve net-zero emissions by 2050, everyone, including corporations, has a part to play in reducing their carbon emissions. Earlier this year, the nation announced that large non-listed and listed firms will have to report climate-related information from 2025, with scope 1, 2 and 3 emissions soon to follow.

It is thus imperative that companies, regardless of size, find a way to not only incorporate environmental sustainability reporting into their business operations but also actively find ways to reduce their emissions.

There remains a pressing need for businesses to align their business operations with sustainability targets. Despite that, the multitude of portfolios and business units present in each company proves it difficult to integrate all sustainability efforts into a seamless and cohesive solution.

This often results in fragmented and siloed sustainability strategies, isolated within various business units rather than being integrated across the entire organisation, which affects the overall effectiveness and impact of such efforts.

Sustainability silos: More harm than good?

Although working in silos can be efficient at times, it often results in overlooking combined efforts to achieve sustainability and business goals. Exploratory strategies in sustainability require oversight across all business units to ensure the net meaningful impact is maximised. Simply put, we must ensure that a positive impact in one area does not cause a negative impact in another.

Also Read: Unveiling the eco gender gap: Essential insights for a sustainable future

To better explain this, take tree planting, for example. While planting trees is a great way to restore nature back to our city, the net impact will be minimised or even negated if substantial amounts of paper are still used in the company’s day-to-day operations. There needs to be a bird’s eye view across such activities for a better, more comprehensive understanding of how our intended sustainability efforts can actually result in a trackable positive impact.

Economic and environmental gains through integrated sustainability strategies

Research has shown that a unified sustainability strategy not only drives progress but also enhances an organisation’s credibility and provides long-term guidance for its business model, thus securing future profitability. Weaving sustainability into the fabric ethos of a business, where each business unit plays a unique role in advancing our sustainability efforts, allows us to form a network of sustainable collectives that deliver tangible value, including financial.

An example of how that is exemplified at LHN Group is our Space Optimisation business, where we revitalise old, unused spaces to their fullest potential. Through unique design techniques honed over three decades of experience in the industry, we enhance buildings’ interior facilities and usability without demolition, mitigating noise and air pollution. These are then transformed into productive environments such as vibrant co-living spaces or storage solutions, which are as efficient as new buildings.

Furthermore, each property we manage is retrofitted with solar panel installations and electric vehicle (EV) charging facilities from our energy business, LHN Energy, facilitating the use of renewable energy to power our buildings and offering EV charging facilities to our tenants.

This forward-looking approach, where each business unit complements one another, not only futureproofs our operations but also empowers us to diligently monitor and diminish our carbon footprint at every link in the chain.

Tackling diverse portfolios

For larger enterprises like LHN Group, determining where to begin can be daunting, but there are solutions to create greater synergy across various business units.

Starting with an Environmental, Social, and Governance (ESG) framework that aligns with industry regulatory mandates, national targets, and Sustainability Development Goals (SDGs) can allow us to assess and understand the various components in our portfolios to apply sustainability initiatives.

Establishing a dedicated sustainability committee enables the creation of action plans, goals, and targets to integrate these initiatives. LHN’s Sustainability Innovations Committee consists of Heads of Department and members of the Board of Directors, who regularly explore new technology, exchange ideas, and identify areas in daily operations where sustainability strategies can be effectively incorporated.

Also Read: Can a small business owner be sustainable in a sustainable manner?

This approach provides us with specialised expertise and focus and, more crucially, promotes collaboration amongst the various business units. Through this, companies will be able to ensure ESG efforts are implemented effectively and contribute to broader local, regional, and even global sustainability objectives.

Getting everyone onboard sustainability synergies

While climate-related activities are crucial in working towards a greener future, a key aspect that is often neglected is the part that employees play. There is a need to highlight the importance of cultivating a culture of environmental sustainability across all levels; beyond direction from top management, even on-ground staff must be informed and educated, getting them excited about the topic.

To foster widespread understanding and adoption of sustainability, company’s ESG strategy should be communicated in an engaging and easily understandable manner for all employees. Besides high-level corporate messages, clear instructions for integrating sustainable practices into daily operations and personal lives should be provided. This approach allows employees to gradually acquaint themselves with the concept without feeling overwhelmed by jargon.

Moreover, providing opportunities for employees to engage in practical environmental activities, such as tree planting, upcycling workshops, or learning about new sustainability technologies, is an effective way to expand their knowledge and cultivate awareness in this field.

In addition, it’s important for companies to engage the supply chain in the ESG communication to ensure a thorough alignment on sustainability vision. This process goes beyond open discussions and sharing of best practices; it entails setting expectations, benchmarks, and targets for ESG compliance across the supply chain.

Sustainable success through integrated environmental stewardship

Corporate Social Responsibility (CSR) and sustainability can no longer be considered an afterthought for businesses, but rather an essential consideration in day-to-day operations. Companies must develop a holistic and actionable approach across all teams, be it supply chains, procurement, people and more.

Implementing an integrated sustainability strategy allows businesses to streamline sustainability efforts, ensure cohesiveness across various business units and, more importantly, seize new opportunities in the green economy fuelled by consumer and investor demand. Only then can we create and maximise proper, trackable positive impact in the world that we live in today, paving the way forward for a more sustainable tomorrow.

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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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Indonesia’s integrated farming productivity platform Elevarm has secured US$2.6 million in a seed funding round led by Singapore’s Insignia Ventures Partners.

500 Global and eFishery founder and CEO Gibran Huzaifa also participated.

The strategic raise, completed in two phases, will be used to scale Elevarm’s seedlings and organic fertiliser production capacity threefold to meet growing demand.

Also Read: Unlocking agritech’s potential: Can Southeast Asia rise to the challenge?

The company will also make significant investments in NextBio, its in-house R&D engine, to develop new products to improve biodiversity, soil health, and ecosystem resilience. It aims to introduce 15 new organic products this year, including biostimulants, fertilisers, and plant and bio-pesticides solutions.

The fresh capital will additionally be channelled towards a new factory equipped with advanced manufacturing technology to expand its capacity for fertiliser production and more.

Launched in 2022, the Elevarm platform of interconnected horticultural services and products empowers farmers with affordable quality inputs for higher farming productivity, broader market reach, and safe and accessible financing.

With a growing base of over 13,000 agricultural partners and 5,000 active farmers as customers, Elevarm claims to have grown its 2023 revenue up 7x from the previous year.

“We see incredible value in uplifting our local smallholder farmers, the backbone that makes up half of Indonesia’s entire farming industry. Our mission is to democratise access to farming essentials that not only boost crop yields for them, but contribute to the circular economy in the long run, through our proprietary research, technology, and solutions,” said Bayu Syerli Rachmat, co-founder and CEO of Elevarm.

Also Read: New year, new funding strategies: Powering up sustainability tech startups

Elevarm plans to collaborate with new research institutions and strategic partners to engineer affordable, deeptech horticulture solutions tailored to uniquely local challenges at different stages of the farming journey. On top of servicing over 400 hectares of farmland through its current farming partners, Elevarm’s B2B marketplace for farmers and wholesalers facilitates monthly crop sales of up to 1,000 tonnes.

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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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We are 7 days away from Echelon X! Visit Echelon X to learn more about the program. Get your tickets here!

Implementing automation and technology to improve the efficiency of each business function is paramount in today’s digital world. Numerous SaaS applications have entered the market as a result. However, companies spend an average of $1,040 on SaaS apps per employee, and 50% of licenses are not entirely maximised according to the Gartner 2022 Market Guide. 

As organisations grow, IT teams need more support in tracking, securing, and optimising their technology stack. Gone are the days of managing SaaS subscriptions through spreadsheets and databases. Centralised IT management software becomes crucial to oversee the entire SaaS landscape, ensuring centralised control and visibility.

Access and data security are important to ensuring internal stakeholders have appropriate access permissions, thus securing customer and company-owned information. “Shadow IT” refers to the unauthorised use of IT hardware or software within an organisation, often involving cloud services, software, or hardware, without the knowledge of the IT or security department. A SaaS management platform can illuminate the use of shadow IT, helping businesses secure their tech stack, optimise their investments, and enable informed decision-making.

Also read: 6 SaaS startups to showcase cutting-edge solutions at Echelon X

Another benefit of a central SaaS Management Platform is gaining end-user utilisation insights. Many subscriptions are purchased, but without proper oversight into how well they are being used, organisations begin overspending on licences and apps they are no longer using. A dashboard would also help teams proactively negotiate contract renewals, reeling in licence leakage and regaining control over the IT budget.

By integrating with hundreds of applications and external data sources, this Tokyo-founded company provides IT with a single platform for tracking all approved applications, streamlining employee onboarding, monitoring shadow IT, and managing SaaS sprawl. With Josys’s power, IT teams can eliminate manual tasks, optimise their licence footprint, and reduce risk.

A holistic approach to equipping IT with 360-degree control over SaaS inventory

Josys is the SaaS and Device Management Platform that simplifies how IT works by making it easier to visualise user access, analyse utilisation trends, and automate provisioning processes. 

By leveraging APIs and integrating with hundreds of applications, Josys empowers IT with a single portal for assigning licences and devices to employees, monitoring user access, and tracking adoption.  IT teams can save time by eliminating dependencies on multiple spreadsheets and disparate tools,  easily optimise IT costs, and securely govern access to company data with Josys.  

The following features and benefits are available for Josys users:

• Users can expose blind spots by cataloguing apps and devices through a real-time dashboard that integrates hundreds of apps and data sources. Managers can easily create custom views and quick filters for fast navigation and automatically identify shadow apps and users on their network.
• IT can prevent licence leakage by analysing usage and controlling costs. Management can grant role-based permissions, identify utilisation trends, and track device refresh cycles to secure company assets and optimise IT spending. Business owners can also make more informed decisions by comparing licence consumption trends to minimise redundancies. They can view summary reports of departmental IT expenses and immediately spot access violations and revoke permissions.
• Lastly, the dashboard can eliminate manual tasks and implement workflow automation to expedite provisioning during employee onboarding, offboarding, and everything in between. Josys allows managers to efficiently onboard employees with bulk licence provisioning, proactively schedule employee access for a seamless Day 1, and systematically de-provision access with a single click.

Also read: 8 AI startups to showcase cutting-edge solutions at Echelon X

Achieving rapid success, Josys secured $32M in Series A funding in September 2022, followed by an impressive $93M in Series B funding a year later to take its solution from Japan to the global market. Now boasting over 400 clients and 150 employees worldwide, Josys drives efficiency, governance, and cost optimisation for IT teams and organisations worldwide.

Empowering Southeast Asian companies with effective SaaS app management

With its proven track record, Josys is now interested in catapulting its growth and empowering entrepreneurs as the upcoming SaaS Management Platform vendor in Singapore and the rest of the ASEAN markets.

Josys has recently enrolled in IMDA’s Spark Programme, which shows the company’s commitment to expanding in Singapore and is a testament to Josys’ adherence to the highest standards of product quality, security, and financial integrity.

Also read: Beyond the Hype: How startups can scale sustainably through compelling communications strategies

At Echelon X, Josys’ team aims to connect with companies of all sizes that are increasingly relying on various SaaS applications to streamline processes, enhance productivity, and foster innovation. They believe that this shift towards cloud-based solutions marks a significant transformation in businesses’ operations, making software more accessible and collaboration more seamless.

Visit Josys’ booth at Echelon X

Josys is one of the many exciting industry leaders from across the Southeast Asian region who will join us for Echelon X. Joining them are other key leaders, visionary entrepreneurs, and groundbreaking startups from all corners of the region who will gather together for two packed days. 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.

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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In April, Tracxn, the SaaS-based market intelligence platform, unveiled its latest Geo Quarterly Report focusing on the Southeast Asia (SEA) fintech scene for Q1 2024. Despite the typically vibrant nature of the region’s ecosystem, the report reveals a significant decline in funding, plummeting to US$530 million during this quarter. It also reported that amidst this challenging financial landscape, there has been a notable surge in acquisitions, with the count reaching 10 in Q1 2024, surpassing the figures of both Q4 2023 (six acquisitions) and Q1 2023 (five acquisitions).

Despite the funding downturn, the resilience of early-stage investments indicates sustained interest and potential avenues for growth within the SEA fintech sector. Moreover, the increase in acquisitions points towards a dynamic landscape ripe for strategic partnerships and consolidation. This trend underscores the adaptability and opportunity within the region’s fintech sector, despite the temporary setback in funding.

Next week, at Echelon X, the SEA fintech scene will be one of the topics that we covered. We will look at the prospect of the industry and figure out how to make them come true–despite all the challenges in the market today.

To prepare yourself for the conversation on fintech on May 15-16, we have compiled a list of notable fintech companies in SEA and beyond.

2C2P

2C2P is a worldwide payments platform aiding businesses in securely accepting payments across online, mobile, and in-store channels. Based in Singapore, the company operates throughout Southeast Asia, North Asia, Europe, and the US. It holds the position of the preferred payments platform provider for regional airlines, travel firms, and global retailers.

Also Read: Fintech Nation integrates thought leadership and community into its startup support initiatives

Wise

Wise is dedicated to creating the optimal method for transferring money worldwide. Through the Wise account, individuals and businesses gain access to over 40 currencies, enabling seamless money transfers between countries and convenient spending abroad. Notably, Wise’s technology is utilised by major corporations and banks, fostering an innovative cross-border payments network with the vision of enabling borderless money transfers for all. Whether for personal or business needs, Wise is committed to simplifying lives and reducing costs for its users. Founded by Kristo Käärmann and Taavet Hinrikus, Wise began its journey in 2011 under the name TransferWise.

Today, it stands as one of the world’s swiftest growing and profitable technology firms, publicly traded on the London Stock Exchange under the ticker, WISE. With a global user base of 16 million individuals and businesses, Wise facilitates £9 billion in cross-border transactions each month, delivering approximately GBP1.5 billion in annual savings to its customers.

Xtransfer

XTransfer is a comprehensive cross-border financial and risk management service provider, specialising in aiding SMEs in reducing the barriers and costs associated with global expansion while enhancing their global competitiveness. Headquartered in Shanghai, with branches in key foreign trade hubs such as Hong Kong and Shenzhen, as well as offices in major export destinations including the UK, US, Canada, Japan, Australia, Singapore, and the Netherlands, XTransfer has established itself as a significant player in the industry. With local payment licenses secured in Hong Kong, the UK, US, Canada, and Australia, XTransfer collaborates closely with renowned international banks and financial institutions.

Leveraging a global multi-currency settlement network and an advanced, data-driven, automated, internet-enabled, and intelligent risk management infrastructure, XTransfer offers a suite of integrated solutions including foreign trade collections, multi-currency networks, risk management services, and customer relationship management. Through technological innovation, XTransfer bridges the gap between large financial institutions and SMEs, enabling the latter to access cross-border financial services on par with multinational corporations.

Wallex

Wallex offers streamlined overseas payment and cash management solutions for businesses, simplifying the process. Beyond facilitating cross-border payments at improved rates and quicker speeds, Wallex empowers users to convert and retain balances across various currencies, enabling effective planning, management, and hedging of currency requirements, all within a single platform.

Also Read: The future of fintech innovation will be a constant dance between progress and security: AND Global

Stripe

Stripe serves as a financial infrastructure platform catering to businesses worldwide. From the most prominent enterprises to aspiring startups, millions of companies utilise Stripe to facilitate payment acceptance, boost revenue, and expedite the exploration of new business ventures. With headquarters in both San Francisco and Dublin, the company’s overarching goal is to enhance the GDP of the internet.

Revolut

Revolut has been dedicated to revolutionising the way people interact with their finances since 2015, striving to provide enhanced visibility, control, and freedom. With a suite of impressive products, the company has empowered over 40 million customers to maximise their financial potential.

As Revolut continues its rapid expansion, the key drivers of its success remain its people and culture. Recognised as a Great Place to Work, Revolut boasts a workforce of over 10,000 individuals worldwide, operating from both office spaces and remote locations, all united by a common mission. The company seeks talented individuals who are passionate about crafting exceptional products, challenging traditional notions of success, and simplifying the complexities of the modern world into elegant solutions.

Rapyd

Rapyd empowers businesses to revolutionise global commerce by providing all-encompassing tools necessary for creating seamless payment, payout, and fintech experiences worldwide. Recognising the diverse preferences of customers globally and the need for swift transactions, Rapyd facilitates businesses and consumers in receiving payments faster, alongside offering developers the flexibility to innovate and create new products. With Rapyd’s comprehensive suite of solutions, businesses can effortlessly accept and send payments to a wide array of recipients, all while enjoying faster, cheaper, and more efficient transactions.

Notably, Rapyd clients experience an average return on investment of 196 per cent and spend 70 per cent less time managing payments. Whether businesses are focused on app development, product sales, payment transfers, or multifaceted financial activities, Rapyd provides solutions that enable them to confidently excel in their endeavours, offering services such as fund transfers, integration of hundreds of payment methods globally, issuance of prepaid virtual and physical cards, simplified money management, and seamless integration of fintech through APIs.

Also Read: How fintech infra firm Decentro leverages collaborations to capture SEA market

M-DAQ

Based in Singapore, M-DAQ is a financial technology firm dedicated to empowering businesses and individuals in cross-border transactions through data-driven insights that offer clarity and certainty in foreign exchange. Established in 2010, M-DAQ operates under the premise that while resources may be finite, aspirations are boundless. The company’s overarching vision is to foster a World without Currency Borders®, enabling universal participation and prosperity in the global economy.

Airwallex

Airwallex stands as a prominent global financial platform catering to modern businesses, providing reliable solutions spanning payments, treasury, spend management, and embedded finance. Leveraging its proprietary infrastructure, Airwallex streamlines global payments and financial operations, enabling businesses of every scale to expand their horizons and seize new opportunities across borders.

Founded in Melbourne, Airwallex boasts a client base exceeding 100,000 businesses worldwide, including renowned brands such as Brex, Rippling, Navan, Qantas, SHEIN, and numerous others, attesting to its trustworthiness and efficacy in the industry.

Worldfirst

WorldFirst emerged from a commitment to foster financial inclusivity. In 2004, Jonathan Quin and Nick Robinson departed from their corporate roles in global banking to establish WorldFirst, realising their vision. Since then, the company has experienced significant growth, now operating in seven locations worldwide. With over US$200 billion transferred for more than one million customers and over one million payments sent annually, WorldFirst has become a pivotal player in the industry.

In 2019, WorldFirst became part of Ant International, a comprehensive digital payment and financial services platform catering particularly to SMEs engaged in international trade. Today, WorldFirst offers a diverse array of tools and services extending beyond global money transfer, encompassing hedging through forward contracts, local overseas currency accounts, and seamless integration with platforms like Xero and online marketplaces. Committed to facilitating business anywhere, WorldFirst continues its mission with fervour.

Also Read: AI in fintech: Boosting your revenue by utilising top 5 CEO’s choices

Adyen

Adyen (AMS: ADYEN) stands as the preferred financial technology platform for prominent companies worldwide. Offering comprehensive end-to-end payments capabilities, data-driven insights, and a suite of financial products within a unified global solution, Adyen empowers businesses to realise their goals swiftly. With a global presence through its offices, Adyen collaborates with renowned entities such as Meta, Uber, H&M, eBay, and Microsoft, facilitating their financial operations and driving their success.

Thunes

Thunes operates as a B2B entity, facilitating payments for some of the world’s fastest-growing businesses, ranging from Gig Economy behemoths like Uber and Deliveroo to Southeast Asia’s leading superapp, Grab, and global Fintech leaders such as PayPal and Remitly. With a straightforward connection, businesses and their customers gain the ability to seamlessly send and receive payments across the globe, instantly reaching every corner of the world. Thunes supports transactions in 79 currencies, facilitates payments to over 130 countries, and enables the acceptance of 300 payment methods. Headquartered in Singapore, Thunes maintains regional offices in key global cities including London, Paris, Shanghai, New York, Dubai, and Nairobi.

Brankas

Established in 2016, Brankas is committed to democratising access to modern financial services for consumers and businesses worldwide. Collaborating with multiple banks and financial institutions, Brankas aims to enhance market accessibility, enabling technology companies to develop superior financial experiences within their own products.

Recognising the prevalence of unbanked or underbanked populations, particularly in developing or emerging markets such as Indonesia and the Philippines where over 70 per cent lack adequate banking access, Brankas is dedicated to addressing this issue by providing secure and cost-effective alternatives to informal banking services. Through the development of robust solutions and IT infrastructure, Brankas endeavours to foster a more competitive and customer-centric financial services industry.

Perfios

Perfios Software Solutions stands as India’s leading SaaS-based B2B fintech software company, empowering over 1,000 financial institutions to make informed decisions in real-time. Based in Bangalore, India, Perfios specialises in a range of services including real-time credit decisioning, analytics, onboarding automation, due diligence, and monitoring. Its core data platform is adept at aggregating and analysing both structured and unstructured data, offering vertical solutions that combine consented and public data for the BFSI sector, addressing their stringent requirements for scale, performance, security, and other SLAs.

Recently, Perfios secured a significant Series D funding round of US$229 million from Kedaara Capital, with additional investment from Warburg Pincus and Bessemer Venture Partners, bringing its total funding raised to US$384 million.

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Image Credit: 123RF

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In 2003, the World Summit on the Information Society was convened under the United Nations and made a Declaration on the importance of the internet in maintaining and strengthening human rights. This was reaffirmed by several multilateral bodies and countries in their own respective declarations.

While not necessarily a human right, per se, internet access is now considered a necessity as it facilitates information exchange and interaction. The UN itself released a resolution in 2016 condemning the disruption of internet access by governments.

With the help of decentralised physical infrastructure networks (DePIN) and decentralised wireless (DeWi), connectivity is becoming more than just a service, but a universal right and a reward-generating opportunity for the average person. With the benefits of decentralisation embedded into innovative blockchain-based technologies, these networks are creating a link between the digital and real worlds in ways not possible only a few years ago.

Blockchain is increasingly becoming embedded into our everyday lives, and DePIN and DeWi are set to provide a practical solution to the challenges of internet connectivity, especially at the last mile.

Potentially revolutionising the US$1.8 trillion global telecommunications industry, this shift is not just about introducing new technologies to a traditional sector, but also about democratising access and benefitting individuals instead of the conglomerates that have ruled the telecoms space until now.

Democratising communications

Unlike technological advancements of the past, DePIN and DeWi don’t just improve efficiency – they democratise access to essential services. They are dismantling the barriers erected by the sheer scale of investment and regulatory complexities that plague the telecoms industry, helping to create a more level playing field in delivering network infrastructure.

“This shift was facilitated by the advent of blockchain technology, which powers peer-to-peer wireless networks,” says Tim Kravchunovsky, CEO of decentralised telecommunications network Chirp. “For the first time, cryptocurrencies facilitate a simple distribution of rewards across network participants, allowing individuals to challenge the status quo in the telecoms sector.”

This year, DePIN and DeWi have already seen significant growth, with a current market capitalisation of over US$30 billion. From the ongoing collaboration between Sui and Chirp that aims to leverage DePIN and DeWi technologies for enhanced connectivity, to the US$15 million raised by DePIN Peaq and the emergence of new decentralised communications projects like Karrier One, the sector is quickly booming.

These projects are particularly making an impact on the internet-of-things or IoT sector, which is expected to drive growth in the DePIN sector. “Scooters for rent or car sharing are perfect examples of how DePIN benefits the community. All of these devices need a network to communicate,” adds Kravchunovsky.

Benefitting the individual

So how exactly do these projects propose to turn the telecommunications sector on its head? Consider that the industry today is dominated by a handful of global giants, which makes it a challenge to develop and build sustainable telecom networks in emerging economies.

The telecommunications industry is characterised by high barriers to entry and limited competition. This monopolistic tendency not only stifles innovation but also leaves vast swathes of the global population in a connectivity void.

This is the very real problem that DePIN and DeWi are setting out to solve. A real-life example of this is Chirp’s Blackbird antenna – a device that allows individuals to provide wireless connectivity to their surrounding area and earn rewards for this service.

As an added benefit of providing decentralised internet access, DePIN and DeWi solutions are also an ideal solution for redundancy in communications, especially during disasters when the regular telecommunications infrastructures are usually overloaded or rendered useless.

“[E]ven if the global internet network is no longer available, it is still possible to stay connected,” writes Jonathan Deyoung of Cointelegraph and The Agenda podcast. “The solution lies in decentralised and distributed local networks known as mesh networks, which could serve as the technological backbone of a disaster-ravaged future.”

These technologies could be particularly game-changing for rural, developing areas and underserved communities where traditional telecom companies have hesitated to invest, resulting in a lack of reliable wireless connectivity in these regions.

An equitable economic model

However, while developed countries tend to enjoy ample connectivity at incredible speeds, DePIN and DeWi can also lead to benefits for individuals living in regions with well-developed telecom infrastructure.

By introducing a new incentivised economic model, these peer-to-peer wireless networks can drastically cut costs and provide earning opportunities for the owners of antennas that provide coverage. This distributes economic benefits more evenly across the network’s participants at the community level, ultimately fostering a more equitable society.

From an environmental standpoint, DePIN and DeWi also offer several benefits. In a world grappling with climate change and inequality, these innovative technologies offer the ability to deploy energy-efficient, decentralised infrastructure. By enabling peer-to-peer energy consumption, for example, DePIN can facilitate the transition to renewable energy sources, reducing the carbon footprint of digital networks.

The takeaway

The rise of DePIN and DeWi technologies heralds a sea change for the telecommunications industry. By decentralising the infrastructure that underpins our digital world, DePIN and DeWi could usher in an era of connectivity that is more accessible, equitable, and sustainable.

As we embrace these changes, we’re not just flipping an established industry; we’re redefining the very fabric of our digital society, ensuring that, in the future, connectivity is a universal right, not a privilege.

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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 credit: Unsplash

The post Beyond connectivity: DePIN & DeWi decentralise power in telecoms industry appeared first on e27.

We are 6 days away from Echelon X! Visit Echelon X to learn more about the program. Get your tickets here!

As the market globalises and technological competition intensifies, longstanding conglomerates have adeptly integrated into the innovation and startup scene. This shift opens avenues for collaboration, investment, and partnerships, fostering growth and diversification.

Nippon Telegraph and Telephone Corporation (NTT Group) facilitates cultural exchange and knowledge transfer between Japan’s tech hub and the burgeoning markets, as evidenced by alliances within the ASEAN landscape. This engagement fosters regional development, stimulates economic growth, and positions the conglomerate as a pivotal player in the global tech landscape.

Corporate-startup collaborations enhance the distribution of new technologies and product offerings, achieving results with fewer resources and in less time. NTT is leading the way into the digital age by focusing on innovative technologies and partnerships in Southeast Asia.

Strengthening Connections and Innovation in Southeast Asia at Echelon X

NTT Group is a leading global player in the IT and telecommunications industry. Operating in diverse domestic and international markets, it has contributed over 150 years of technological innovation to society. The core of its business is providing services that enhance people’s lives and contribute to client success. With $97 billion in revenue and more than 330,000 employees across over 80 countries and regions, serving over 190 of them, NTT Group is committed to being a long-term trusted partner and consistently contributing to society through its business operations.

As part of the expansive NTT Group, their line-up has broadened to wider industries, job roles, and demographics. Their operations span a range of sectors, including telecommunications, IT infrastructure, and digital services, among others. This wide-ranging operational scope allows them to serve a broad market base, from startups in emerging tech sectors to established enterprises in traditional industries. NTT Group is equally open to exploring collaborations across various technological domains, whether they involve cutting-edge AI and IoT solutions or foundational IT services.

Also read: Transforming IT operational efficiency for businesses globally

NTT Group is currently developing the NTT Startup Challenge, a leading platform designed to foster the startup ecosystem in Southeast Asia. Since its inception in 2016, the initiative has attracted over 3,300 startup applications and has supported 50 startups in achieving significant business breakthroughs. Through its participation in Echelon X, NTT Group is committed to engaging directly with startups and establishing key partnerships.

Yasuhiro Nishino, Manager of the Global Business Department at NTT, added, “This event is an ideal place for us to connect with pioneering startups, share our advancements, and promote collaborative growth within the tech ecosystem.”

Enhancing ASEAN presence in Echelon X

Together with other industry leaders, Yasunori Kinebuchi, Director of the Global Business Department at NTT, will participate in one of the panel discussions about AI in Southeast Asia. This session offers a thought-provoking discussion on the ethical and societal implications of artificial intelligence (AI) adoption in the region. 

Kinebuchi, Nishino and the rest of the team look forward to connecting with other industry tech innovators and thought leaders. NTT Group is excited to gain insights into emerging trends, explore new technologies, and discuss challenges and solutions, enriching their understanding and inspiring future collaboration within Southeast Asia.

Also read: 6 SaaS startups to showcase cutting-edge solutions at Echelon X

NTT Group is one of the many exciting industry leaders from across the Southeast Asian region who will be joining us for Echelon X. Joining them are other key leaders, visionary entrepreneurs, and groundbreaking startups from all corners of the region who will be gathering together for two packed days. 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.

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 Aleksandar Pasaric via Pexels

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NSG BioLabs, a provider of biotech co-working laboratory and office space in Singapore, has announced completing a US$14.5 million financing round led by Asian private equity firm Celadon Partners.

ClavystBio, a life science investor and venture builder set up by Temasek, also participated in the round.

With the new capital, NSG BioLabs intends to enhance its products and services and introduce additional facilities to meet the growing demands of biotech startups and multinational companies in Singapore and Southeast Asia.

Also Read: How NSG BioLabs aims to nurture biotech innovation in Singapore and beyond

In addition, NSG BioLabs has secured partnerships with government agency Enterprise Singapore and science and technology company Merck to bolster the biotech landscape by providing funding, expertise and networks to advance startup R&D. It has been part of EnterpriseSG’s Startup SG Accelerator since 2019.

Started in 2019, NSG BioLabs develops solutions in the health, biomedical, agrifood, and industrial biotechnology sectors, working in precision medicine, nucleic acids, AI-enabled drug discovery, and synthetic biology.

The co-working space firm provides biotech startups and multinational companies private and shared laboratory spaces, offices, equipment, privileged access to service providers and suppliers, and community engagement.

NSG BioLabs currently houses over 40 innovative companies in its co-working biotech laboratory in Singapore. The residents include several multi-billion-dollar multinationals and promising startups that have achieved key milestones.

In partnership with EnterpriseSG, NSG BioLabs will invest in and nurture more high-potential biotech startups, in particular, expanding support for those with promising innovations in fields such as precision medicine, with the aim of fast-tracking the development and commercialisation of such deep tech solutions.

Also Read: Farquhar, Korea’s S&S Lab collaborate to support biotech, foodtech startups

After its first site opening in November 2019, NSG BioLabs expanded with its second site in August 2021 and recently 2023 with its third site. Now, it has three sites totalling 35,000 square feet.

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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 Biotech co-working provider NSG BioLabs concludes US$14.5M financing round  appeared first on e27.

Last week, Jobs on Demand (Jod), Singapore’s multi-industry flexible on-demand gig work platform, introduced JodRewards, an initiative designed to motivate users to complete tasks on the Jod platform while extending worker benefits to those engaged in the gig economy. The launch followed a local survey among 1,000 Jod Members, revealing that eight out of ten respondents felt deprived of traditional employment benefits as gig workers.

Comprehensively tailored to meet the unique needs of gig workers, JodRewards seeks to elevate the support and security standards within the gig economy by affording gig workers the same benefits full-time employees enjoy. The programme, currently boasting an estimated 60,000 Jod Members, has witnessed over 1,000 active engagements and a redemption of 65,000 points (equivalent to S$$12,755 worth of rewards) since its soft launch in April.

These points, earned based on user tiering and total hours worked per job, can be redeemed for various rewards, including transport, meal, and grocery vouchers, with values of up to S$20 each. Additionally, members can partake in challenges. Nearly 800 members engaged in challenges throughout April, earning points that can be exchanged for benefits such as paid break time and paid annual leave, providing a financial payout for rest days.

“In our inaugural year at Jod, we are targeting to disburse over 1 million JodPoints, translating into more than S$200,000 in cash benefits to our members. This initiative is expected to bolster our platform’s fulfilment rate by 25 per cent while simultaneously reducing no-shows and cancellations by 30 per cent,” says Sebastian San, Country Manager (Singapore) at Jod, in an email to e27.

“Additionally, we are committed to elevating the safety and security of our gig workers. We plan to roll out enhanced protection measures and a broader range of benefits to ensure a safer and more supportive environment for our members very soon.”

Also Read: CreditEase, Plug and Play invest in Smile API, an employment data startup targeting gig workers

San further explains that the company’s user acquisition strategy is designed to be as dynamic and diverse as the gig economy itself and tailored to meet the needs of the particular job in demand and its members.

“We employ a multifaceted approach that includes leveraging digital marketing to reach a broad audience efficiently, implementing referral programmes that incentivise our current users to bring in new members, and forming strategic partnerships with key employers and sectors relevant to our services,” he says.

“Furthermore, we strongly emphasise building a supportive community that benefits both Jod Members and employers, ensuring that we meet the evolving needs of all stakeholders. The expansive data analytics and market insights have also allowed us to refine our strategies, improve job matching accuracy, and ultimately increase fulfilment rates across our platform. Our goal is to not only attract new users but also create a thriving ecosystem where all participants can find value and opportunities.”

Empowering gig workforce

Jod, a mobile-first digital platform, aims to streamline the process for employers to find and manage their workforce efficiently. With a focus on simplicity, flexibility, and accessibility, Jod utilises technology to create user-friendly products.

Established in 2015, the company introduced Southeast Asia’s pioneering gig work platform, JodGig.

Since 2020, Jod has operated as a subsidiary of Janakuasa, a prominent Singaporean energy multinational corporation, as part of its newly launched New Ventures division. As a member of the Janakuasa group, San says that Jod takes pride in aligning with an organisation renowned for its innovation and commitment to sustainability. While Janakuasa focuses on providing sustainable energy solutions, Jod harnesses the spirit of empowerment to support gig workers through innovative platforms and technologies, contributing to the advancement of the gig economy.

Also Read: The future of the gig economy: How to scale your sales workforce

“Leveraging Janakuasa’s expansive pool of resources has allowed Jod to develop robust and extensive research aiming at our target audiences, enabling us to continually enhance our app and services to stay tip-top and relevant. Additionally, this affiliation allows us to reach an established customer base and significantly broadens our market reach. It also lends us credibility and strengthens our position in the market by associating us with Janakuasa, a respected and trusted brand,” San explains.

“These benefits collectively fuel our mission to empower the workforce of tomorrow and drive our growth in the gig economy.”

The Singapore team at Jod comprises 15 dedicated members across various functions, including product development, business development, marketing, operations, and customer and business support.

“We cultivate a culture of collaboration and inclusivity, recognising that every individual’s contributions are integral to our collective success. By fostering an environment where diverse perspectives are valued, we empower our team to innovate, problem-solve, and drive growth effectively,” San says.

Looking forward to 2024, Jod is gearing up for regional expansion into the Philippines, Malaysia, and Vietnam.

“As part of this expansion strategy, we plan to expand our team further, bringing onboard new talent to bolster our capabilities and extend our impact across the region. With a commitment to excellence and a collaborative mindset, we are poised to navigate the challenges and opportunities of our expansion, driving towards our vision of empowering the gig economy and fostering sustainable growth in Southeast Asia.”

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Image Credit: Jod

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Singapore-based climate-tech investor Earth Venture Captial has co-invested in Paris-based aerial inspection startup HyLight’s EUR3.7 (US$4) million investment round.

Y Combinator, Ring Capital, Kima Ventures, and Collaborative Fund are the other investors.

Tesla co-founder Marc Tarpenning also participated.

Also Read: AI can bring more intelligence and automation into drone industry: Aerodyne CEO

The round will help HyLight conduct its first large-scale operations and expand its network of strategic partnerships. The capital will also support the recruitment of experts in aviation regulation, embedded systems, hydrogen systems, mechanical engineering, industrialisation, and software development. The firm will also use a portion of the money to develop new versions of its airship drones, meeting stringent aeronautical and industrial standards.

“This round of financing is a decisive milestone for HyLight. It allows us to realise our vision of providing large-scale infrastructure inspection in a decarbonised and highly precise manner.”, said Martin Bocken, CEO of HyLight.

Founded in 2022 and located in Brétigny-sur-Orge, HyLight is an aerial inspection company. Its flagship creation, the HyLighter, is a hydrogen-powered airship drone capable of collecting vital data over extensive distances without emitting greenhouse gases.

At the heart of HyLight’s technology is a sophisticated blend of artificial intelligence (AI) and computer vision capabilities. The airship drones are equipped with HD cameras and advanced sensors such as LIDAR and thermal infrared that can capture ultra-precise data over large areas, facilitating the early detection of faults and anomalies.

The drones detect previously uncollected data, transmit it securely, and generate detailed reports for preventive measures.

The drones have a flight autonomy of up to 10 hours and a range of 350km.

Also Read: Aerodyne partners with DroneDash for cross-border delivery services between Singapore, Malaysia

In under two years since launching, HyLight has developed seven iterations of its airship drone, logged over 150 hours of flight time, and secured inspection contracts with Enedis, Europe’s largest power line operator, to pilot its innovative aerial inspection solutions.

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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 Singapore’s Earth VC, Tesla co-founder invest in French aerial inspection startup HyLight appeared first on e27.