Seaplane Asia, a seaplane and lifestyle company in Thailand, has closed its latest funding round led by TK & Partners.

Local VC firm and angel investing platform A2D Ventures and several other investors co-invested.

Also Read: FlyORO soars into green skies with its sustainable aviation fuel blending solutions

The size of the deal remains undisclosed.

The new funds will bolster Seaplane Asia’s growth in Thailand and support further expansion across Southeast Asia.

Established in 2019, Seaplane Asia provides air charter and amphibious seaplane services to connect remote islands and coastal areas. Its services aim to enhance accessibility, reduce travel times, and minimise environmental impact.

Besides travel and tourism, Seaplane Asia’s seaplanes are equipped for medical evacuations, search and rescue operations, cargo and logistics, monitoring missions, and corporate charters. Its portfolio includes brands like Siam Seaplane and Siam Scenic in Thailand, Samra Seaplane in Cambodia, and the lifestyle brand Jetboard Asia, which exclusively distributes high-end electric-powered water sports and boats.

Also Read: H3 Dynamics decarbonises global aviation industry with multiple aerial mobility products

Additionally, Siam Aero Services, a distributor for Bose Aviation, provides consultancy services to the region. Preparations are also ongoing to enter the Indonesian and Philippine markets.

TK & Partners is a private VC firm investing in Southeast Asia. Over the last three years, it has invested in 14 startups across the region.

A2D Ventures is an early-stage VC firm, angel syndicate, and angel investing platform. The firm invests in innovative and impactful companies across various sectors, with a focus on supporting entrepreneurs who are building the future of Southeast Asia.

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At IVITECH.Drive, we work directly with South Eastern Asian drivers. We provide them with new, safe and eco-friendly electro bikes so they can maintain their work in ride-hailing and public transportation across the country. Of course, before we entered the markets, we were analysing which type of e-bikes would fit. While it was clear that the bikes should run on electricity, there were many gaps to research regarding other issues. 

But first, why e-bikes?

Let’s start with the maintenance. Even though the starting price of e-bike might be the same or even higher, they are much cheaper to own. Electricity costs less than gas, which is getting more expensive all the time. 

Second advantage is the lower risk of breaking its parts due the simplicity of construction. Here we come to the third advantage – simple construction means simple controls. 

But the main thing is the ecology. Of course, electric bikes are way more eco-friendly than the fuel ones. And that’s why the government of Indonesia wants to get up to 2.5 million e-bike drivers by 2025. 

Also, e-bikes are known for saving time. Charging or replacing the battery takes less time than refuelling. 

Is there any practical difference between bikes with swappable and rechargeable batteries? 

Well, it’s the way you charge your bike. Having a swappable battery means that you can insert a new one when the old one is dead. It’s fast, simple and easy. 

Also Read: Electrifying Southeast Asia: Unleashing the radical potential of electric vehicles

Rechargeable batteries have to be recharged. It means you have to come to the charging station once your battery is close to death. 

The main advantage of rechargeable batteries lies in their capacity, which is bigger compared to swappable batteries.

Swappable batteries should be recharged, too – but you don’t have to wait for it. You just come to a station, take out the drained battery and insert a new one – it is a matter of minutes. 

What is greener 

Even though both versions of bikes are considered to be eco-friendly, bikes with swappable batteries happen to be greener. 

The reason is the mechanics that the batteries are built on. The health of the battery drains with every single cycle, and you will still have to change it when the time comes. All built-in bike batteries are using the fast charging method (because with usual charging it would take way more time to get to 100 per cent), which is damaging them and reduces the capacity. 

Damaged and drained batteries can no longer be used, and produce a lot of non-recyclable waste. When it comes to a swappable battery, the amount of cycles that it goes through is much less, so its health remains at good rates for a longer time. 

What about the infrastructure? 

Another reason why we decided to provide our Indonesian drivers with swappable batteries is the simplicity of infrastructure implementation. Charging stations are more expensive to build, while it doesn’t take many resources to open spots for battery replacement. Yes, the government and SMEs are investing in developing electric transportation, which includes building charging stations, but it takes time while swapping is available now. 

Fast charging infrastructure is more expensive and takes longer to be built. Given the environmental situation we are in – particularly in Indonesia – there is not a moment to lose in switching to environmentally friendly transportation. 

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Mober, a green logistics company in the Philippines, recently raised US$6 million through a mix of equity and convertible notes, led by Singapore VC firm Clime Capital, to acquire 238 electric vehicle (EV) units by 2025 and develop a new charging yard in Pasay City.

The company is also advancing its technological capabilities by developing a battery management system (BMS) to enhance the efficiency and lifespan of its EVs.

In this interview, Mober CEO Dennis Ng shares the details of the expansion plans and how it implements workforce diversity.

Edited excerpts:

Mober has received a US$6 million investment from Clime Capital. How will this funding specifically enhance your operations, and what are the immediate priorities for utilising this capital?

The immediate priorities for utilising the US$6 million investment are to acquire more electric vehicles (EVs) and set up new charging yards equipped with 16 DC fast chargers. This will significantly enhance our operational capacity and efficiency, allowing us to serve our customers better and expand our market reach.

Also Read: Green logistics firm Mober secures US$6M to add new EVs to its fleet, develop new charging yard

In addition to the funds, Clime Capital will assist us with our Environmental, Social, and Governance (ESG) objectives, making Mober a sustainability-proof company. With the VC firm’s help, we have engaged consultants like Ibis to set up its ESG framework. This partnership boosts our credibility and aligns our operations with global sustainability standards.

Mober is planning to expand its EV fleet to 238 units. What challenges do you foresee in scaling up your fleet, and how do you plan to address them?

The biggest challenge in scaling up our fleet is securing bank financing, as Philippine banks are still familiarising themselves with the EV logistics industry. We have discussed with the top banks and pitched Mober’s plans to mitigate this challenge. By educating financial institutions about the benefits and viability of EV logistics, we aim to secure the necessary financing.

You also mentioned developing a new 3,000 sqm charging facility by early 2025. Can you provide more details on this facility, such as its location, capacity, and expected impact on your operations?

The new 3,000 sqm charging facility is located on Macapagal Avenue in Pasay City, on a property owned by Social Security System (SSS), for which we recently tendered. We will install 16 DC fast chargers and build our Green Delivery Specialist (GDS) lounge and control tower.

This facility’s proximity to IKEA will enable us to serve our customers more efficiently, implement our GDS programme, and provide a subsidised canteen and a comfortable resting place for our drivers after a long work day.

Mober is enhancing its technological capabilities with a cutting-edge Battery Management System (BMS). How will this system improve the efficiency and lifespan of your electric vehicles, and what advancements do you expect from this technology?

With our real-time BMS, we can monitor the performance of our batteries and predict potential malfunctions. This data-driven approach allows us to maintain our EVs proactively, ensuring optimal performance and extending their lifespan.

Additionally, our control tower can track all our EVs’ state of charge (SOC) in real-time, improving our dispatching efficiency and overall operational reliability.

Mober will place pocket charging points across Luzon to support long-haul operations. How do you plan to implement this infrastructure and ensure its accessibility and reliability for your fleet?

We plan to start this project in Bicol by installing one DC fast charger every 150 kilometres. These chargers will be located at stopover places where our GDS can rest while charging their vehicles. By strategically placing these charging points, we ensure that our fleet has reliable access to charging infrastructure, supporting our long-haul operations effectively.

Mober sources its EVs directly from OEMs, tailoring each vehicle to specific operational requirements. Can you share more about your partnerships with these manufacturers and how customisation enhances Mober’s service delivery?

Our team visits prospective OEMs to test their EVs and discuss our specific operational requirements. We collaborate with OEMs to develop solutions that enhance our efficiency, cost-effectiveness, and service quality. By avoiding oversized batteries and tailoring vehicles to our delivery needs, we optimise our fleet’s performance and ensure that our service delivery meets the highest standards.

Mober claims it is committed to workforce diversity, including training female drivers and assemblers. How are these initiatives progressing, and what impact do you anticipate on the company’s culture and performance?

Also Read: Driving change: Mober’s journey towards sustainable green delivery

We have started training two lady drivers and two lady assemblers. The main challenge lies in recruitment. By promoting diversity, Mober proudly showcases these initiatives to our clients, hoping to influence them to adopt similar practices. This diversity not only enriches our company culture but also enhances our performance by bringing in diverse perspectives and skills.

Your GDSes are a unique aspect of your service. How do you recruit and train these specialists, and what role do they play in reinforcing Mober’s commitment to high service standards and sustainability?

We use a referral system, encouraging current GDS to invite other drivers they meet during deliveries. Prospective candidates can apply via a QR code leading to a mini-website.

Additionally, we organise job fairs, and before the year-end, Mober will host a National Truckers Day. This event will invite truck drivers, showcase EVs, and feature various activities. Before officially hiring, candidates undergo paid training to assess their driving skills. Our GDS are the face of our company, ensuring that our customers have a superb shopping experience. Their role is crucial in upholding Mober’s commitment to high service standards and sustainability.

How does Mober plan to scale its operations sustainably, and what long-term impacts do you foresee on the Philippines’ logistics industry and environmental footprint?

Mober is rapidly growing and designing our charging stations to accommodate other EV trucks in the future. We plan to empower small mom-and-pop transport companies to transition to EVs by renting out our EVs and providing access to our charging infrastructure. This initiative will not only help these companies grow but also significantly reduce the environmental footprint of the logistics industry in the Philippines.

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China’s ByteDance, parent of the popular social media app TikTok, is set to invest approximately 10 billion ringgit (US$2.13 billion) to establish an artificial intelligence (AI) hub in Malaysia, according to a Reuters report citing the country’s trade minister.

As part of this agreement, ByteDance will also enhance its data centre operations in Johor state with an additional investment of 1.5 billion ringgit (US$320 million).

The Minister for Investment, Trade, and Industry, Tengku Zafrul Aziz, later said that the investment will significantly contribute to Malaysia’s goal of increasing the digital economy’s share to 22.6 per cent of the nation’s GDP by 2025.

Also Read: Microsoft to empower 2.5M Southeast Asians with AI skills by 2025

Over the past few weeks, Southeast Asia witnessed a slew of initiatives by global tech giants to promote AI in the region. Microsoft recently announced that it would equip 2.5 million Southeast Asian people with AI skills by 2025. The skilling initiatives would be implemented in partnership with governments, nonprofit and corporate organisations and communities across Indonesia, Malaysia, the Philippines, Thailand, and Vietnam.

Amazon also launched a similar initiative in Singapore to develop innovative AI solutions and support the city-state’s Smart Nation and National AI Strategy 2.0 (NAIS 2.0) goals. Furthermore, the company’s cloud business unit, Amazon Web Services (AWS), plans to invest an additional S$12 billion (US$9 billion) into its existing cloud infrastructure in Singapore from 2024 to 2028. AWS invested S$11.5 billion in the Asia Pacific (Singapore) region through 2023.

In April-end, Microsoft announced it will invest US$1.7 billion over the next four years in new cloud and AI infrastructure in Indonesia, as well as AI skilling opportunities for 840,000 people, and support for the nation’s growing developer community.

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The 2024 Global Startup Ecosystem Report (GSER) was launched today at London Tech Week by Startup Genome and the Global Entrepreneurship Network in partnership with the Founders Forum, Informa Tech, and London & Partners.

The report, which provides rankings to identify which ecosystems are leading in innovation and offers in-depth insights into global startup trends, revealed significant progress made by startup ecosystems in Southeast Asia (SEA) and across five continents.

Singapore has improved its ranking from the 2023 report, moving up to the #7 Global Startup Ecosystem. From July 1, 2021, to December 31, 2023, Singapore’s startup ecosystem generated US$144 billion in Ecosystem Value, a metric that captures the economic impact through the value of exits and startup valuations.

Another SEA startup ecosystem, Jakarta, also made “notable advancements” as it entered the Top 10 emerging ecosystems at #6.

Close to SEA, India boasts two ecosystems in the Top 40, with Delhi at #24 and Mumbai at #37. Bengaluru-Karnataka is ranked as the #21 Global Startup Ecosystem, tied with Sydney, having created $158 billion in Ecosystem Value during the same period as Singapore.

“Entrepreneurs are naturally attracted to the most important challenges of the day and seek to apply the best ideas and technologies for solutions. Our progress on these issues in the next decade will determine the success of the next 100 years and beyond. The prize is finding solutions to global needs faster,” shared Jonathan Ortmans, President of the Global Entrepreneurship Network, in a press statement.

Also Read: Startup Genome: Singapore remains top startup ecosystem for clean tech, blue economy

Funding slowdown

The 2024 GSER report analysed data from over 4.5 million companies across more than 300 startup ecosystems. In addition to ranking the top ecosystems, it highlighted startup funding in the same year and what it means for these ecosystems.

According to the report, Series A funding in 2023 saw a significant decline, dropping by 46 per cent from the previous year, and the value of large exits (US$50 million and above) fell by 47 per cent. However, Q1 2024 shows promising signs of recovery, with projected higher Series A funding amounts and deal counts compared to Q4 2023. This could indicate a modest rebound in early-stage startup funding after a challenging year.

The share of Series A funding for the Top 40 ranked ecosystems in the GSER 2024 decreased to 65 per cent in 2023, down from 79 per cent in 2019. In contrast, the Top 100 Emerging Ecosystems saw their share increase to 19 per cent from 13 per cent over the same period.

The number of new unicorns also dropped significantly in 2023, down 58 per cent from 2022 and 87 per cent from the 2021 peak. Despite the decline, China increased its global share of new unicorns from six per cent in 2022 to 11 per cent in 2023, while Silicon Valley remained the leader with 15 new unicorns, albeit an 80 per cent decrease from 2022.

Tashkent, Lyon, and Rhineland welcomed their first unicorns in 2023.

In terms of verticals, Generative AI (GenAI) and Deep Tech subsectors dominated the new unicorn landscape in 2023, surpassing their 2021 rates. GenAI saw a funding surge, accounting for nearly 20 per cent of all VC funding in 2023, with US-based startups at the forefront.

Also Read: Startup Genome reveals how local and global connections drive startup scalability

GenAI VC funding tripled, and deal counts nearly doubled from 2022 to 2023.

Late-stage clean tech startups experienced a 2.5x increase in funding in H2 2023 compared to H1 2020, with the UK, France, and Germany surpassing the US and China in early-stage clean tech funding, achieving nearly a 50 per cent increase from 2021.

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