Singapore- and Canada-based aquaculture platform Wittaya Aqua has raised US$2.8 million in seed funding from Yield Lab Asia Pacific, SEEDS Capital, Future Planet Capital, Conservation International Ventures, and SeaAhead Blue Angels.

The strategic raise will enable Wittaya Aqua to develop its feed-to-farm platform and expand its reach into Asia Pacific, the largest aquaculture-producing region globally.

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

Wittaya consolidates existing data points across the seafood supply chain to drive greater profitability, sustainability, and efficiency. The startup integrates different information streams from farmers, feed mills, and ingredient suppliers into one platform.

Founded in Canada, the company has since expanded to Asia following its global customer footprint growth.

Currently, the company works with major aquafeed and integrated farming clients in more than ten countries.

Wittaya Aqua can build accurate science-backed models to help stakeholders improve specific variables or functions. For instance, a farmer knows how his feed affects his animal’s growth rate and can compare the outcomes to industry benchmarks. Or, a feed mill can benchmark the performance of its feeds on different farms to understand how to improve its formulations for specific customers.

Also Read: How Fishlog aims to revolutionise Indonesian fisheries with cutting-edge tech solutions

Wittaya Aqua’s platform also empowers aquaculture stakeholders to meet rising consumer, retail and regulatory expectations for a more transparent and improved value chain.

Over half of the aquaculture industry’s top 10 leading companies across Asia, the Americas and Europe have used Wittaya Aqua’s platform to improve outcomes for aquafeed, ingredient supply and farms. Its notable customers include De Heus, Uni-President, US Soybean Export Council, Soy Aquaculture Alliance, Temasek Lifesciences Laboratory, AquaChile, dsm-firmenich, Corbion, Aker BioMarine, AGT Foods, POET, and Botaneco.

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Image Credit: Wittaya Aqua.

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In today’s increasingly cloud-based world, companies are migrating to hybrid and multi-cloud environments against the concerning backdrop of COVID-19 – either as part of their conscious digitalisation efforts and workflow automation or to enable remote access to company resources. Many digitalisation efforts have been made hastily because of the need to facilitate work-from-home requirements without delay.

These may create potential security issues and, when they involve processing personal data, privacy issues. So organisations must keep in mind data protection/privacy laws that govern how personal data is processed.

Any data breaches, abuse of personal data or non-compliance with data protection rules and regulations will get an organisation into trouble with the law. Where personal data is stored in hybrid and multi-cloud work systems, the risk of encountering such trouble may be increased.

To tackle data privacy risks in a landscape where workflow automation and cloud environments are intertwined, here’s how organisations and startups can comply with data protection requirements.

Also Read: Data privacy in a digital-first world

Ensure proper governance of personal data

Many data protection laws in the ASEAN region require organisations to appoint a data protection officer to ensure proper governance of personal data.

Even where there is no such requirement to comply with applicable privacy laws, a suitably senior employee should be tasked with ensuring proper governance of personal data.

In addition, there should be a dedicated governance team or committee in place to ensure that personal data is safeguarded according to the legal requirements. Such a team or committee ordinarily comprises each department’s heads that handle personal data in their operations.

The data protection officer, or other individuals in charge of personal data governance, will act as the subject-matter expert and co-ordinator of governance activities.

The governance team or committee must first understand the data life cycle of all business and workflow processes within the organisation (that is, where personal data is collected, used, disclosed, shared, transferred to another country, or stored and disposed of) before they can comply with local data protection requirement.

Regulators expect organisations to demonstrate accountability for compliance with data privacy laws. Fortunately, despite new regulations and amendments being introduced (such as in China, Indonesia and Thailand), the data protection rules or principles are similar in each country– this makes it relatively easier for organisations to comply from a regional regulatory perspective.

Also Read: WhatsApp takes a U-turn in its data privacy. Is it time to switch to alternative platforms?

Assess the risks involved in processing personal data

The first step in the compliance process for both startups and well-established organisations is to identify the following risks:

• Personal data risks, especially sensitive data (e.g. financial data, health data, persons infected with COVID19, etc.)
• High-risk processing, especially in the cloud (analytics, automated decision-making, artificial intelligence and machine learning, predictive analysis, etc.)
• Risk areas or gaps in new digital processes, online projects or products that the organisation creates
• Use of third-party outsourced services and platforms (e.g. web hosting services, SaaS platforms, shared services, etc.)

What makes processing personal data in the cloud a vulnerability, as part of the monetisation model, work automation or digitalisation efforts, is that data is being disclosed or shared outside an organisation.

This means that it is beyond the organisation’s direct control from both a privacy and security perspective. The organisation is totally dependent on the cloud service provider.

Also Read: Ignorance is never bliss: What a whitehat taught me about data privacy

Under data protection laws, a company can delegate the performance of these tasks to third parties. Still, it cannot delegate the responsibility for performing them by data privacy laws. Therefore, a regulator will first look to hold an organisation accountable for any data breach, even if it originates from the outsourced vendor.

Enforcement cases show that organisations that do proper due diligence when selecting external service providers or cloud platforms and have contracts with them that cover all relevant aspects of data protection, including technical measures, can convince regulators that these third parties may be accountable for any data breach originating from the outsourced vendor.

Then there are inherent privacy and security risks to companies using the cloud to process personal data, where the organisation has poor practices in place such as:

• Not obtaining consent when collecting, using or disclosing personal data
• Excessive or illegal processing of personal data
• Unauthorised access to personal data (e.g. absence of access controls or use of poor access controls) or unauthorised disclosure of personal data due to lack of security measures
• Indefinite storage of personal data, by the organisation or cloud service provider (even when contracts have expired or been terminated), after the business or legal purposes for processing the data have been fulfilled.
• No safeguards in place for cross-border transfers – that is, an organisation using a cloud service provider without finding out whether personal data will be sent out of the country by the provider

As employees use more automation tools online, they may also opt to use free SaaS or cloud services (e.g. simple CRM or email marketing software), thereby putting employee or customer data at risk. Even with good intent, such work practices may violate company security policies and fail to comply with data privacy laws.

Put together a comprehensive data privacy protection management programme

Once the organisation is aware of its privacy and security risks, the governance team should implement a data protection or compliance programme to ensure systematic compliance from an operational perspective.

Also Read: Ignorance is never bliss: What a whitehat taught me about data privacy

Risks must be identified, and at least all key risks must be addressed by relevant controls, policies and procedures intended to ensure compliance. These should be documented and implemented to educate or train employees accordingly to prevent security or privacy lapses.

The data protection law is not prescriptive, meaning it cannot prescribe for every scenario, especially in hybrid or multi-cloud systems; companies can adopt standard industry practices.

For example, the ISO/IEC 27018:2019 is the standard code of practice to protect personally identifiable information (PII) in the cloud. Organisations, especially startups that utilise cloud platforms to store personal data in their business operations, should strive to achieve the certification to provide further confidence and accountability to their consumers, creating stronger business relationships.

The relatively new ISO/IEC 27701 – an extension of the popular ISO 27001 information security is another industry information security standard that companies can use when implementing their data protection management systems.

As a rule, companies should conduct penetration tests on any online portal or application.

Besides safeguarding data, companies are expected to audit their policies and practices to ensure effectiveness and respond to complaints, queries and even data breaches (as a regulatory requirement).

Importance of having a Data Protection Officer (DPO)

Due to both the legal and operational requirements of data protection laws (which also mandate the appointment of a DPO), there is now a shortage of experienced and trained DPOs.

This, coupled with highly publicised data breaches and enforcement actions by regulators, has created a demand for data protection expertise and professionals, especially by larger organisations and those operating online.

Whether your firm is a startup or a well-established company operating in today’s pandemic environment, a data protection officer will help you run your data protection management programme and navigate the issues of handling personal data and operating in today’s digital economy.

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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 November 17, 2021

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With more people shopping online, it’s no surprise many brands are rethinking the online shopping experience to make the journey to purchase as seamless as possible. Over the past few months, my team has noticed that businesses are embracing solutions that allow for quick and effortless conversational commerce, where people and businesses connect through chat or voice assistance to purchase goods or services.

Conversational commerce is viral across Southeast Asia, where 70 million more people have become digital consumers since the coronavirus (COVID-19) pandemic began.

Recent META consumer research also shows that nearly 50 per cent of holiday shoppers are more likely to buy if they can message with a business.

I believe the time is now for brands that have yet to introduce messaging options into their communications strategy. But for those who are just getting started, it may feel daunting. To help, I’m sharing stories of businesses that have used the chat to help streamline customer communications, simplify the customer journey and help drive sales.

Conversational commerce helps businesses communicate at scale

Take the story of Snigdha Dalal, who launched her business Bihu Collection in 2017. She sells traditional textiles and weaves with the intent of closing prominent gender gaps she witnessed over the years.  Recently, Snigdha had to close her physical store due to the pandemic.

Undeterred, she overcame this setback by pivoting to an online business model, depending on e-traffic for sales. During this period, WhatsApp played a crucial role, allowing Dalal to reach customers beyond her geographical limitations, with timely responses provided through the “auto-replies” feature.

Hence, not only has WhatsApp allowed her business to stay in contact with loyal customers, but it has also opened up doors for an international audience.

Also Read: Lazada co-founders’ new e-commerce enabler CREA locks in US$25M from SuperOrdinary

99 per cent of her customers reached and interacted with the brand through WhatsApp, and she also witnessed an 80 per cent increase in sales conversion rate on inquiries through the platform.

Because of the convenience and efficiency of conversational commerce, we’ve seen various businesses adopt messaging solutions such as Messenger, Instagram direct, and Whatsapp business to chat with customers on platforms they already use and are familiar with.

This has been especially useful for small businesses to help them build connections with customers at scale.

Conversational commerce helps businesses simplify the purchase journey

As brands gear up for the busy and competitive year-end shopping season, they’re likely hard at work discussing how best to reach their customers and provide them with an excellent online ordering experience.

Recently, we’ve observed how businesses are using conversational commerce channels to bring them closer to customers, eliminating friction along the customer journey.

A great example of this comes from Alyn Tapis, an Indonesian business founded by Novita Ria and sells beautiful handmade souvenirs and modern fashion products made out of Tapis — a traditional Indonesian fabric.

Also Read: DDoS is a serious threat to e-commerce. Here’s how to tackle it

To adapt to the global pandemic, Novita has modernised the company’s approach to customer care.  She quickly realised that online platforms are a convenient and effective way for customers to access their catalogues and purchase their products.

With the simple inclusion of a WhatsApp button on her website, Novita directly directed her customers straight to WhatsApp, providing them with a seamless shopping experience.

As a result, 85 per cent of customers reached and interacted with the brand through Whatsapp, with a 55 per cent sales conversion rate on enquiries and a 55 per cent repeat order rate.

Conversational commerce helps businesses drive sales

Much like how in-store visitors interact with staff members, conversational commerce provides opportunities for instant interaction online that can help a shopper make a purchase decision in real-time.

In the Philippines, Niño owns Cool Breeze Transient – Baguio City, which offers accommodation to tourists. During the lockdowns throughout the coronavirus pandemic, Niño shifted from a transient house model with daily rates to a short-term rental model to sustain the business.

He began posting updates to Facebook and found he could grow brand awareness and connect with future guests.

Today, 80 per cent of his bookings come from Facebook, and he’s earned a 50 per cent conversion rate from inquiries he receives via Messenger.

Also Read: E-commerce brand aggregator Hypefast to take on Una Brands, Rainforest with US$19.5M Series A financing

Another great example is Flow Athletic in Australia, which Benjamin and Kate founded in 2013. It is a fitness centre that offers classes to help people achieve their fitness goals or be healthy.

During the pandemic, they used Messenger to conduct personal training with the members since they couldn’t meet them face to face.

This also helped Flow Athletic grow from a local brand to an international one. As a result, 40 per cent of their sales are now generated through Messenger and other Meta products.

In my experience, shopping– especially year-end holiday shopping– whether online or in-store, can be a hectic and frustrating experience. But when shoppers can ask questions about the products they’re interested in, receive advice about choosing the correct item, and gain assurance that their online purchase will arrive in time for the festive period, they leave the conversation with confidence and peace of mind.

These interactions deepen the customer connection with a brand, build consumer trust, simplify the customer journey, and help drive sales.

Conversational commerce provides a win-win situation for both shoppers and businesses – and especially for SMBs. By embracing messaging platforms, even small businesses can improve customer satisfaction, scale their services and achieve growth.

This is precisely the kind of holiday magic I hope all brands can conjure this year.

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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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Image credit: marchmeena

This article was first published on November 30, 2021

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UMT Jaya, a wholly-owned subsidiary of Universiti Malaysia Terengganu (UMT), has partnered with the online crowdfunding platform pitchIN to support startups that result from research conducted by university lecturers and students.

This collaboration enables startups to raise funds through the pitchIN platform while receiving support and guidance throughout their fundraising journey.

UMTJ CEO Dato’ Dr Ahmad Ramzi Mohamad Zubir said UMT’s extensive intellectual property (IP) portfolio, comprising patents, industrial designs, innovation utilities, trademarks, proprietary rights, and trade secrets, is ripe for commercialisation. In 2023 alone, UMT registered 60 intellectual property assets, including 40 products as proprietary rights, 13 as trade secrets, and four registered patents, with other categorisations of intellectual properties.

Also Read: pitchIN Academy to offer content on alternative financing, investment in Malaysia

These IPs are underutilised and not generating commercial returns, which represents a loss for UMT specifically and the country as a whole. UMTJ will connect the university’s startups with potential investors via the pitchIN platform through this agreement.

pitchIN is a digital fundraising and investment hub registered as a Recognised Market Operator (RMO) with the Securities Commission Malaysia to offer both an Equity Crowdfunding (ECF) and Token Crowdfunding (TCF) platform. It has completed over 177 ECF campaigns and facilitated over RM325 million (US$69 million) in fundraising.

At the same time, this agreement also introduces the Fundraising Accelerator (FA) to assist UMT’s startups. FA is an entrepreneurship programme launched by pitchIN Academy in October 2022. This initiative will provide the necessary guidance on the knowledge and skills required for the UMT startup founders to raise funds for their businesses successfully.

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Starting a new business, especially in the competitive B2B SaaS space, presents numerous challenges. One of the most crucial is generating leads through content marketing. Content marketing can be a powerful tool to attract and engage your target audience, but it requires a strategic approach to be effective.

This article explores ten essential strategies that startups should adopt to excel in content marketing, complete with examples, expert tips, and best practices. We’ll also discuss the importance of a solid Go-To-Market (GTM) strategy and balancing content with performance marketing.

Develop a Solid GTM Strategy

A Go-To-Market (GTM) strategy is the foundation of your content marketing efforts. It defines your target market, positioning, and value proposition, ensuring that your content resonates with your intended audience.

• Example: A B2B SaaS startup providing project management tools for remote teams needs to understand the pain points of its potential customers, such as collaboration challenges and productivity issues.
• Expert tip: Conduct thorough market research to identify your ideal customer profile (ICP) and tailor your content to address their specific needs and pain points.

Set clear goals and KPIs

Setting clear goals and Key Performance Indicators (KPIs) allows you to measure the success of your content marketing efforts and make data-driven decisions.

• Example: Your goal might be to generate 500 qualified leads in six months, with KPIs such as website traffic, conversion rates, and content engagement metrics.
• Best practice: Use SMART (Specific, Measurable, Achievable, Relevant, Time-bound) criteria to set your goals.

Create high-quality, valuable content

High-quality content builds trust and establishes your startup as an authority in your industry.

• Example: A startup offering cybersecurity solutions can create blog posts, whitepapers, and case studies on topics like data protection, compliance, and threat prevention.
• Best practice: Focus on creating evergreen content that remains relevant over time and addresses your audience’s key concerns.

Also Read: These 5 marketing analytics platforms are taking the field into the future

Leverage SEO best practices

Search Engine Optimisation (SEO) helps your content rank higher in search engine results, increasing its visibility and driving organic traffic.

• Example: Conduct keyword research to find terms like “remote project management tools” and incorporate them naturally into your content.
• Expert tip: Optimise your content’s meta descriptions, headers, and images to improve SEO.

Utilise multiple content formats

Different formats cater to different audience preferences, increasing engagement and reach.

• Example: Alongside blog posts, create videos, infographics, podcasts, and webinars to appeal to a broader audience.
• Best practice: Repurpose existing content into various formats to maximise its utility and reach.

Build a content calendar

A content calendar helps you plan and organise your content marketing efforts, ensuring consistency and timely delivery.

• Example: Plan a month’s worth of content in advance, including blog posts, social media updates, and email newsletters.
• Expert tip: Use tools like Trello or Asana to manage your content calendar effectively.

Collaborate with influencers and industry experts

Collaborations can expand your reach and add credibility to your content.

• Example: Partner with industry experts for guest blog posts, interviews, or joint webinars on relevant topics.
• Best practice: Identify influencers who align with your brand values and have a significant following in your target market.

Invest in content distribution

Creating great content is only half the battle; distributing it effectively ensures it reaches your audience.

• Example: Use social media platforms, email marketing, and content syndication to promote your content.
• Expert tip: Leverage paid promotions and sponsored posts to amplify your content’s reach.

Measure and analyse performance

Regularly measuring and analysing your content’s performance helps you understand what works and what doesn’t, allowing for continuous improvement.

• Example: Use tools like Google Analytics and HubSpot to track metrics such as page views, bounce rates, and lead conversions.
• Best practice: Conduct A/B testing to determine the most effective content strategies and formats.

Also Read: AI, personalisation, and 5 marketing activities you should be doing

Balance content marketing with performance marketing

While content marketing is crucial for long-term growth, performance marketing can drive immediate results, providing a balanced approach.

• Example: Allocate part of your budget to PPC campaigns on platforms like LinkedIn and Google Ads to generate leads quickly.
• Expert tip: Continuously refine your performance marketing strategies based on data insights and align them with your content marketing goals.

Final thoughts

Content marketing is a powerful tool for B2B SaaS startups looking to generate leads and establish a strong market presence. By developing a solid GTM strategy, creating valuable content, leveraging SEO, and balancing content with performance marketing, startups can achieve sustained success.

Remember to set clear goals, measure performance, and adapt your strategies based on data-driven insights to stay ahead in the competitive startup landscape.

With these strategies, your startup can effectively navigate the content marketing game and drive meaningful engagement and growth.

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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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Have you noticed how today’s shopping trends are throwing it back to the retro feels? It seems like we’re all stepping into a time machine. In times of economic uncertainties, rising costs, and growing environmental awareness, consumers are shifting their preferences.

Some people are swapping-opting for products that offer lasting power and won’t break the bank. Sustainability is also a huge driver, as more consumers choose items that can be fixed, recycled, or simply last longer, like those durable retro designs that seem made to stick around.

Nostalgia is king

In uncertain times, there’s something comforting about products that remind us of simpler times. The 90s Time Machine taps into this by offering a unique service for music lovers. Whether you want a kit to create your own mixtapes or prefer to submit a playlist and have them turn it into a tape for you, this product delivers a tangible slice of ’90s nostalgia, providing comfort and fun from a decade cherished by many. Check out the 90s Time Machine!

Digital detox

Ever feel like unplugging? Whether it’s escaping the endless doom of scrolling through distressing news, dodging humble brags, battling notification fatigue, or just needing a break from back-to-back Zoom meetings, the desire to disconnect is real.

The Light Phone and the iconic Nokia 3210 are perfect for those moments. These devices are all about the basics—texting and calling, no frills. The Nokia 3210, known for its sturdy build and long battery life, harks back to a simpler time when phones were just phones. Both are ideal for anyone looking to reduce their screen time and enjoy a simpler, quieter day.

Also Read: Pivoting beyond product: You need to look at your company/work culture, too

Technological fatigue

With technology getting more advanced, there’s a growing appreciation for gadgets that keep it simple. The Oneshot Video Maker champions ease, offering a straightforward point-and-click interface that demonstrates video creation — no fuss and fast.

Also, as digital cameras such as DSLRs become ultra feature-rich and the learning curve goes higher, the appeal of simple, durable options like Kodak’s film cameras resonates with consumers who miss the tangibility and charm of film photography. This resurgence mirrors the vinyl craze, where music lovers are turning back to records for a richer, more authentic sound.

Retro pop culture’s massive comeback

Retro continues to make waves in pop culture, influencing everything from fashion to movies. For example, while Nike’s Air Max sneakers are a modern product, they’ve recently been promoted through advertisements that embrace a distinctly old-school, vintage style, giving a nod to their long heritage while showcasing their latest designs.

Similarly, Loewe has creatively harnessed a retro vibe with a unique advertising approach. They produced a commercial set in a nostalgic game show format, where contestants are challenged to correctly pronounce “Loewe,” blending retro entertainment styles with high fashion.

While New Jeans’ “Bubble Gum” video offers a nostalgic trip with its ’90s-inspired visuals, let’s not overlook Kodak Korea on Instagram, where they keep the classic appeal of film photography alive, proving that vintage never really goes out of style.

Retro isn’t just about reliving the past; it’s about finding comfort and simplicity in a world that often feels overwhelmingly complex. Whether it’s through fashion, technology, or entertainment, the allure of the past is proving to be more than just a nostalgic trend. It’s a lifestyle choice that many are passionately embracing.

What are some of your favourite retro-inspired products or brands? I’d love to hear from you.

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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.

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The post Old school, new rules: Retro rewinds and redefines cool appeared first on e27.

Dear reader,

In a striking development, TikTok Shop has surged past Tokopedia to become Southeast Asia’s second-largest e-commerce platform in 2023, as reported by Momentum Works.

Shopee continues to lead with a formidable GMV of US$55.1 billion, capturing a 48% market share.

TikTok Shop’s annual GMV skyrocketed to US$16.3 billion, placing it on par with Lazada and Tokopedia. This leap is accentuated by its significant workforce expansion, which contrasts with the workforce reductions seen at Shopee, Lazada, and Tokopedia between 2022 and 2024.

The report, part of ‘The Ecommerce in Southeast Asia 2024’, reveals the region’s e-commerce market has grown impressively, achieving a total GMV of US$114.6 billion in 2023.

Indonesia remains the largest market, despite a slower growth rate, while Vietnam and Thailand exhibit the fastest growth. Additionally, Temu’s entry into the Southeast Asian market underscores the region’s growing attractiveness.

Key trends such as live commerce, generative AI, and evolving logistics are reshaping the landscape. Momentum Works CEO Jianggan Li highlights the dynamic and transformative nature of Southeast Asia’s e-commerce, driven by innovation and adaptation, fostering continuous growth and opportunities.

Sainul,
Editor.

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NEWS

TikTok Shop beats Tokopedia to become SEA’s second-largest e-commerce platform
While Shopee, Lazada, and Tokopedia all reduced their workforce between 2022 and 2024, TikTok Shop has expanded its workforce to over 8,000 employees since December 2021.

Goldman Sachs targets US$2B for first Asia-focused PE fund: Sources
The fund will focus primarily on investment opportunities in Japan, with about half its capital expected to be allocated there; India, South Korea, and Australia will also be key markets for the fund.

Lhoopa raises US$80M to provide affordable housing in emerging markets
The investors include IFC, Wavemaker Partners, Pavilion Capital, ADB, and Lendable; Lhoopa has sold over 2,500 affordable houses in over 58 cities in the Philippines and aims to provide over 15,000 more over the next three years.

Blockchain-powered fintech firm Partior hits first close of US$60M round
The investors include Peak XV Partners, Valor Capital Group, and Temasek; Partior’s unified ledger enables banks and payment service providers to join its network and access real-time, cross-border, multi-currency clearing and settlement.

D3 Labs, Tether to leverage blockchain to transform Indonesia’s fintech industry
This D3 Labs-Tether partnership aims to assess the deployment of a cutting-edge blockchain-based asset management platform and Web3 ecosystem.

Niv Della closes US$2M round to expand its D2C beauty, skincare brands in Philippines
The investors are DSG Consumer Partners and Foxmont Capital Partners; Niv Della’s Colourette and Fresh Formula brands are suited for the Filipino lifestyle and skin tones and Philiipines’s hot and humid climate.

TikTok explores local services potential in Southeast Asia
According to a recent job posting on the company’s official careers website, its venture into services aims to “make the daily life experience richer, more unique and more innovative.”

Trump’s VP candidate JD Vance has long ties to Valley, and was a VC himself
Vance spent years as a venture capitalist before leaving the industry when elected to the US Senate in 2022; He was a principal at Mithril Capital, a fund co-founded by Peter Thiel and Ajay Royan.

Elon Musk confirms Tesla ‘robotaxi’ event delayed due to design change
Musk first teased the robotaxi event in April, on the same day that Reuters reported the company was shelving plans for a new vehicle built on a next-generation platform that would cost around US$25K; Musk denied that report on X.

Bitcoin soars to two-week high after Trump attack
Bitcoin rose 8.6% to US$62,508, touching a two-week high of US$62,698 earlier in the session, taking its year-to-date gains to 47%; Ether was also up 6.8%% at US$3,322.

FEATURES & INTERVIEWS

From mining engineer to travel tech visionary: Darryl Han transforms trip discovery
Han transitioned from Australia’s mining industry to co-founding LFG, driven by his global experience and passion for tech innovation.

Launching Indonesia’s first AI incubator, DiscoveryShift bridges corporate-startup collaboration
In this interview, Discovery/Shift Managing Partner Rama Mamuaya also shares his insights about Indonesia and AI adoption.

Echelon X: Unveiling VC 2.0 or navigating the chaos? Decoding the future of SEA venture capital in 2024
The Echelon X panel discussion highlighted the potential of early-stage startups, regional resilience, and diversification opportunities.

Deemples, the ‘Uber for Golfers’, aims to make tee times effortless in Southeast Asia
Deemples facilitates connections among golfers to ensure that a game can always be arranged regardless of individual schedules.

FROM THE ARCHIVES

Can free-to-play models ignite new player interest in Web3 gaming?
As opposed to only playing for fun, Web3 gaming via P2E takes it one step further through rewards that can be converted into local currency.

Insurtech shines amidst overall funding decline in Indonesia in H1
Insurtech startups in Indonesia secured US$47M in H1 2024 compared to US$7.5M in H1 2023, as per a Tracxn report; Fintech, insurtech and enterprise applications emerged as the top-performing sectors in H1 2024.

Why the right framework creates impactful apps
While this leap to a new framework might seem daunting at first, this article explores why it can be worth making that change.

Thailand’s startup ecosystem in 2024: Fewer funding announcements, but promising opportunities ahead
Between January and May 2024, we covered five funding announcements from startups in Thailand from various stages and verticals.

Embracing AI’s promise: Navigating the future of marketing
In an era where AI is reshaping the marketing industry, we explore how marketers, particularly in Singapore, can unlock AI’s potential.

How these trio grew BuyMed into a B2B healthtech brand with a reach in 12K+ townships in Vietnam
BuyMed, which recently raised US$51.5M in Series B funding, says it processes over 5K orders daily and reaches 12K+ townships across Vietnam.

Fintech Nation integrates thought leadership and community into its startup support initiatives
This year, Fintech Nation wants to invest in more companies, doubling last year’s number of five companies.

Beyond Singapore and Indonesia, SEA startups are working their way out of global crises
Singapore and Indonesia continue to top startup funding list despite ongoing slowdown. What does this mean for the rest?

Moosa Genetics boosts beef production in Indonesia through DNA tech, farmer support
Moosa Genetics enhances Indonesia’s cattle industry with advanced biotech, improving meat yield, quality, and sustainability for farmers.

‘Arbor envisions the rise of Generative Media as the 4th wave of media transformation’
Arbor’s expansion into Southeast Asia is motivated by the region’s rapid digital adoption and growing demand for reliable news.

Book Excerpt: In this digital age, customer journey as we know it may no longer exist
In his upcoming new book, JC Sum stresses why changes are inevitable –and that they do not discriminate between small or big firms.

How Sipher won high-profile VCs’ hearts even before its blockchain games hit the market
Unlike most blockchain games, Sipher not only aims to onboard the crypto- and NFT-savvy crowd but to introduce it to the traditional gaming community.

Finding the right co-founder involves having tough conversations–and a great sense of humour
While there is always an option to go solo, there are also many good reasons to for you to have a co-founder.

THOUGHT LEADERSHIP ARTICLES

What entrepreneurs should know about delivery management in 2024
In 2024, delivery management must be optimized as much as possible, even for entrepreneurs in small-scale enterprises.

Do you need to rethink your startup fundraising strategy?
Consider how much of your startup’s 2024 fundraising objectives you’ve reached; if you’re not ahead, there’s still time to catch up.

Weathering Asia’s economic storm with the help of Tokenised RWAs
As a capital access augmentation solution, tokenised RWAs help make traditionally illiquid assets easier to convert to cash or cash equivalents.

The future of Gen Alpha in the workplace, a primer for business leaders
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On Monday, the Cyber Security Agency of Singapore (CSA) and the National University of Singapore (NUS) launched a centre that aims to uplift talent, innovation, and growth programmes in cybersecurity.

The CyberSG Talent, Innovation, and Growth (TIG) Collaboration Centre was opened by Dr Janil Puthucheary, Senior Minister of State for Digital Development and Information.

At the same event, NUS also forged strategic partnerships through Memorandums of Understanding (MOU) with SGInnovate and Plexal to drive innovation and growth in Singapore’s cybersecurity ecosystem. This MOU will enhance the centre’s effectiveness and reach.

First unveiled in September 2023, the centre is a joint initiative backed by S$20 million in funding from the government and NUS. According to a press statement, this strategic partnership aims to establish Singapore as the premier global cybersecurity innovation hub, fostering economic growth and addressing the increasing demand for robust cybersecurity solutions.

Also Read: Phishing remains top cybersecurity concern, but AI will drive it to next level: Zscaler CSO Deepen Desai

Located at LaunchPad @ one-north, the centre will serve as a central nexus, bringing government, academia, and industry together to catalyse impactful initiatives in the cybersecurity sector and leverage opportunities posed by digitalisation. It will also build upon NUS Enterprise’s extensive global BLOCK71 network and innovation infrastructure, providing cybersecurity talents and companies with access to resources and opportunities for growth.

“We are excited to mark the official opening of the CyberSG TIG Collaboration Centre. NUS Enterprise is committed to continue pushing the boundaries of innovation and entrepreneurship to develop a thriving cybersecurity innovation ecosystem from Singapore,” said Associate Professor Benjamin Tee, Vice President (Ecosystem Building), NUS.

“This centre will synergise and leverage the combined expertise and resources of academia, industry, government, local and international industry partners. Our partnerships with Plexal and SGInnovate are a step forward to further support promising startups that drive global innovation and business opportunities towards a more secure digital future in Singapore and beyond.”

The centre’s strategic initiatives are structured around three core pillars:

Talent
The centre aims to cultivate a diverse talent pool equipped with the skills to apply cybersecurity capabilities across various industries and functions. Simultaneously, it trains a critical mass of professionals with advanced cybersecurity expertise. Core programmes include SG Cyber Associates, SG Cyber Youth, SG Cyber Professionals, and SG Cyber Talent Development Fund.

Innovation
The centre seeks to drive co-innovation with industry to bridge the path from innovation to commercialisation, nurturing promising cybersecurity companies for Singapore and the region. This will be through core programmes Cybersecurity Industry Call for Innovation (CyberCall) and CyberBoost.

Also Read: Uncovering the rise and challenges faced by deep tech startups in Singapore

Growth
Lastly, the centre aims to enable cybersecurity companies anchored in Singapore to scale regionally and globally. The core programme, CyberGrowth, is a dedicated cybersecurity-focused export programme that facilitates the expansion of promising cybersecurity companies and leverages NUS’ BLOCK71 incubation hubs in Southeast Asia, East Asia, and the US.

“We are thrilled to mark this important milestone of the opening of the CyberSG TIG Collaboration Centre, which brings some of our talent and ecosystem development efforts under one roof. Our partners, whether they are government entities, industry, or academia, all have a key role to play in this effort. We look forward to the continued support of our stakeholders in this journey to establish Singapore at the forefront of cybersecurity innovation,” said Phua Puay Li, Assistant Chief Executive (Policy and Corporate Development) Assistant Chief Executive, CSA.

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Image Credit: NUS Entreprise

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Singapore-based data and AI-as-a-service company Tictag has completed its Series A round with undisclosed funding led by Telkomsel Ventures.

Existing investors M Venture Partners, East Ventures, and Investible participated. SBI Ven Capital, a subsidiary of Japan’s SBI Holdings, joined the round through its joint fund with South Korea’s Kyobo Securities and NTU Singapore’s NTUitive.

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Operating in Singapore, South Korea, Indonesia, Malaysia, and Hong Kong, the company will use the funds to engage more businesses and expand its presence in Indonesia and the rest of Asia.

Established in 2019, Tictag is a data-centric startup aiming to simplify data collection and annotation by breaking tasks into manageable portions via its app-based crowdsourcing platform. It empowers organisations with business-ready AI without worrying about their core problem—data.

The company recently expanded its capabilities to include applied data-centric AI and consulting services.

The data-centric approach allows Tictag to deploy business-focused AI with state-of-the-art models to deliver accurate results with actual data rather than just stopping at proof of concepts.

Tictag’s expertise in applied AI spans industries like agriculture, construction and manufacturing, security, smart cities, audio and languages and more.

The startup claims to have served over 50 corporations in various sectors, such as real estate, autonomous vehicles, agriculture, and media across Asia.

“We see our social and commercial missions as intertwined. As we enhance companies’ competitive advantages through AI-driven ROI, we are also expanding the AI economy in Asia,” stated Kevin Quah, co-founder and CEO of Tictag.

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“Our work strengthens AI ecosystems by enriching partnerships and growing a diverse community of data annotation contributors, from students to the disabled, enabling their participation in the AI economy. Indonesia represents a thriving bedrock of AI talent and businesses on the brink of AI enablement, areas we have been focusing on intensively. With Telkomsel Ventures’s support, we will gain the right expertise, knowledge, and access to significantly expand our impact in the market,” Quah added.

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Image Credit: Tictag.

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In recent years, there has been a notable shift in the digital lending industry, primarily due to the advancements in artificial intelligence (AI) and data analytics. Financial organisations are continuously adjusting to meet the evolving needs of customers in a world that is becoming more and more digitised.

According to a report by IIFL Fintech, the digital lending market in India had a value of US$38.2 billion in 2021 and is expected to reach US$515 billion by 2030. This represents a compounded annual growth rate (CAGR) of 33.5 per cent, underscoring the increasing significance of digital lending solutions in the global financial landscape. The integration of AI technology will be instrumental in driving this growth and offering exciting prospects for improving efficiency, mitigating risk, and delivering customised lending experiences.

Let us explore the future of AI in digital lending and its ability to bring about transformative changes.

Enhanced risk management

Lenders must have a clear understanding of the borrower’s creditworthiness in order to assess risk effectively. AI can analyse vast amounts of data, even from alternate sources like social media and cash flow patterns, to assess the creditworthiness of the borrower in a more accurate manner. This, in turn, can minimise the risk of default.

Further, AI models can identify subtle patterns in existing data through machine learning to identify patterns in loan repayment behaviour. 

Streamlined operations

The process of Robotic process automation (RPA) involves utilising AI-powered software robots to handle routine tasks such as document validation, data input, and eligibility assessments for loans. By doing so, it allows human employees to dedicate their attention to more intricate matters and providing exceptional customer service.

Fraud detection

Fraud poses a significant risk to lenders. AI algorithms have the ability to identify red flags and inconsistencies in loan applications such as information mismatch and suspicious activities by the borrower. AI can also step in to keep a tab on ongoing behaviour such as irregular payments. This helps lenders to protect your financial interests and promote trust at the same time. 

Offering personalised loan products

With the ability to analyse vast amounts of data, AI and automation can help to offer customised loan products to customers based on suitable loan terms, repayment methods and, more importantly, loan amounts tailored to the borrower’s financial situation. Further, AI can fine-tune rates on a real time basis based on the borrower’s risk profile. 

Also Read: Embracing automation and phygital models: The future of mortgage companies

Reduced operational costs

Businesses constantly seek opportunities to enhance efficiency while simultaneously reducing operational expenses. In a highly competitive lending industry, lower costs can provide a significant edge. By minimising the reliance on manual labour, artificial intelligence (AI) allows for the allocation of resources to other aspects of the business. Ultimately, this results in cost optimisation. 

Increased loan volumes

A lender aims to expand their loan portfolio and capture a larger market share. Utilising AI technology allows lenders to tap into a broader range of potential borrowers and accelerate the loan application process, ultimately enhancing the lender’s profitability.

In addition, AI not only enhances operational efficiency for lenders but also contributes to an enhanced customer experience. These two aspects are intertwined and complement each other perfectly.

Faster loan approval

We have previously examined the capacity of AI to analyse extensive quantities of data, thereby removing the necessity for intricate documentation and manual verifications. This means that borrowers can expect their loan applications to be approved in hours or even minutes.

Further, customised loan offerings make the loan process hassle-free for the borrower, thus augmenting borrower satisfaction. Thus, AI is a game changer for borrowers who need a loan immediately for an emergency or time-sensitive purchases. 

More transparency

AI also helps lenders provide real-time updates on the loan application. Thus, the borrower is kept informed throughout the process. This helps build trust, and since the borrower gets real-time updates, it helps reduce the anxiety that one may relate to waiting for a decision.

When it comes to artificial intelligence and the process of lending and managing loans, it has provided lenders with the ability to originate loans more quickly and gain a deeper understanding of their customers’ creditworthiness. From cost savings to improved processes, AI and automation have immense benefits for both lenders and borrowers.

Going forward, lenders will continue to make substantial investments in AI, leading to positive outcomes for all parties involved.

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