Singapore-based UnaBiz, a provider of customised IoT solutions, has announced the first close of its US$25 million pre-series C funding round with Japan’s KDDI Open Innovation Fund 3 and KYOCERA Communication Systems.

Also Read: UnaBiz closes US$50M Series B round with investment from SPARX Group, others

The fresh funds will be used to partner with new companies in the security industry, deepen logistics and supply chain market penetration, and expand utility with hybridisation.

This capital injection follows UnaBiz’s acquisition and integration of French IoT firm Sigfox 0G technology. In two years, UnaBiz added 4 million new devices to the global 0G Network.

“Since the acquisition of Sigfox 0G technology, we have unleashed its full potential by opening up the tech and unlocking fresh opportunities for IoT deployments and applications across the entire LPWAN ecosystem. Today, we are one of the largest aggregators of Massive IoT solutions globally, with 13.5 million devices connected, of which four million were added in the last 24 months alone,” UnaBiz CEO and co-founder Henri Bong said:

Launched in 2016 by Bong, UnaBiz aims to provide scalable, energy-efficient IoT solutions for firms in critical verticals, such as aerospace, facilities management, F&B, healthcare, logistics, supply chain and smart cities.

UnaBiz claims to have connected one million security devices over the past year. It is now investing in partnerships with major automobile and motorbike manufacturers to scale its telemetry and anti-jamming services globally.

It counts Nippon Gas (Japan), Shin Kong Communications(Taiwan), and UEMS (Singapore) among its clients.

The company has sales offices in Tokyo, Paris, Madrid, and Rotterdam and two R&D centres in Taipei and Labège.

Also read: How to firm up your IoT strategy to combat online risks

Kazuhiko Chuman, General Manager of KDDI Corporation’s Open Innovation Division, said: “UnaBiz has been at the forefront of expanding the Sigfox 0G Network business, contributing significantly to the creation of an IoT business ecosystem. Today, UnaBiz is an indispensable presence across various industries, earning the trust of numerous customers and partners both domestically and internationally. Through our collaboration with UnaBiz, KDDI will continue to drive further growth in the IoT market.”

The firm expects to hold a final close by October 2024.

In 2022, UnaBiz secured an undisclosed sum in fresh funding led by Japan’s SPARX Group, with participation from G K Goh Holdings and Optimal Investment. Earlier,  it bagged over US$25 million in an oversubscribed Series B round led by SPARX Group through its US$700 million Mirai Creation Fund II.

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Image Credit: UnaBiz.

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Organisations today often struggle with departmental silos and the sprawl of SaaS tools, leading to scattered customer and product information. To stay relevant and competitive, companies must adopt a new approach: building a comprehensive knowledge graph that connects people and work around two important dimensions – customer and product.

As part of e27‘s flagship conference, the Echelon X keynote speech titled ‘Building an AI Agent Workforce’ featured Akanksha Deswal, Engineering Leader at DevRev.

In her keynote speech, Deswal discussed how the knowledge graph converges data from various sources, enabling seamless search and retrieval of information. This integrated data structure also forms the foundation for AI Agents – intelligent assistants that can autonomously perform actions and streamline workflows.

Trained on the knowledge graph and powered by a workflow engine, AI Agents can be programmed to automate tasks, freeing up teams to focus on what matters most. By leveraging AI Agents, organisations can enhance efficiency, improve decision-making, and drive innovation.

Deswal emphasised the transformative potential of AI Agents in revolutionising how businesses operate. By integrating these intelligent assistants into their workflows, companies can not only overcome the challenges of data fragmentation but also unlock new levels of productivity and strategic insight. The future of work lies in harnessing the power of AI to create a more connected, efficient, and innovative business landscape.

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

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e27 has been nurturing a supportive ecosystem for entrepreneurs since its inception. Our Contributor Programme offers a platform for sharing unique insights.

As part of our ‘Contributor Spotlight’, we shine a spotlight on an outstanding contributor and dive into the vastness of their knowledge and expertise.

In this episode, we feature Jackie Tan, the Co-Founder and CEO of BorderDollar, a startup addressing the US$2.5 trillion trade finance gap. Currently raising seed funding, Tan is a seasoned entrepreneur with three ventures and two successful exits. Recognised by Gen.T and Forbes 30 Under 30, he holds a PhD and has expertise in data science, fintech, and algorithm design.

Tan lectures in data science at Nanyang Technological University and entrepreneurship at the Singapore University of Social Sciences.

Thoughts, goals, and journey

Tan first embarked on his startup journey when he participated in a hackathon and found it intriguing to continue developing his idea as a student entrepreneur. He never looked back after his product took off.

He said, “As for my latest startup BorderDollar, it was from conversations with smart friends and research from thought pieces.”

Tan is fluent in both AI, having completed his PhD using data science, and blockchain, having entered the field in 2017 and been part of the Web3 ecosystem builder Tribe. He believes that generative AI is definitely the most recent development and will continue to be so for a few years to come.

Additionally, Tan notes that blockchain is seeing a great boom, with a focus on bridging the real and digital worlds via Real World Asset (RWA) tokenisation.

“My professional goal in the next year or so is to raise seed funding. As for my personal goal in the next year, I aim to write and contribute more. I forgot how much I enjoy talking about startups and tech,” he added.

Also Read: Lydea Quek: Championing cybersecurity innovation in APAC

The driving force

Tan is one of the seasoned contributors to the e27 Contributor Programme, having published his first article back in 2017. Since then, he has been a regular contributor, writing insightful pieces on a variety of themes, including fundraising, leadership, and rental trends. His extensive experience and deep understanding of these topics have made him a valued voice within the e27 community.

“I’ve had the great fortune of meeting many amazing people throughout my startup journey, and one of the most influential individuals I’ve met — and who continues to be so — is Christopher Quek from TRIVE. His advice to me was to ‘pay it forward,’ and that’s what I have been doing in various capacities, including being a contributor on a platform such as e27,” Tan said candidly.

Advice for budding thought leaders

Tan advises aspiring thought leaders to cultivate great thoughts by reading widely and engaging with a high-quality group of friends to hone their knowledge. While content creation has become easier with generative AI, he  emphasises the importance of letting one’s personality shine through their writing to avoid a cold and clinical tone.

Juggling too many things?

Tan suggests protecting one’s time by clearly understanding what to accept and decline. To avoid being overwhelmed by mundane tasks, he recommends minimising them as much as possible. Effective time management, such as using calendars, kanban boards, and to-do lists, can also be beneficial.

Staying in the loop

Tan’s Google account pushes articles to his phone, allowing him to stay ahead of the curve through a variety of content. As an avid reader, he also enjoys newsletters. Additionally, he built his own scraper to gather the latest maritime and trade news, providing a curated list of articles for his reading pleasure.

“You don’t have to quit your day job to start a company, especially if you’re a first-time founder. Test your ideas, talk to people, build prototypes. Learn how to prototype without coding — it’ll save you time in the long run,” he concludes.

Take a look at his articles here for more information and perspectives on his expertise.

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Are you ready to join a vibrant community of entrepreneurs and industry experts? Do you have insights, experiences, and knowledge to share?

Join the e27 Contributor Programme and become a valuable voice in our ecosystem.

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Singapore-based biotech startup Lucence has recently achieved a significant milestone by securing Medicare coverage approval in the US, becoming the first Asian-headquartered company to do so. This approval enhances Lucence’s credibility and market presence in the US while showcasing its advanced technology and evidence to global stakeholders.

“This sets the precedent for similar recognition in other markets for our products’ performance and patient benefit. We are actively pursuing more partnerships in other high-potential markets to broaden the accessibility and impact of our innovative cancer detection tests,” writes Lucence CEO Dr Min Han Tan in an email to e27.

Beyond the Medicare approval, Lucence has reached several key milestones, including the successful launch of its LucenceINSIGHT tests, which can detect up to 50 types of cancer. These tests have been introduced in Singapore, Hong Kong, and Canada, with plans for further global rollouts.

In this interview, Dr Min Han Tan explains more about the prospect of cancer detection services in Singapore today and how Lucence aims to tap into this opportunity.

Also Read: Asia’s biotech boom: Innovation, investment, and a new era of discovery

The following is an edited excerpt of the conversation.

What are the prospects for a cancer detection service in Singapore today? Can you share your current strategy for acquiring customers and expanding your business?

The market need for early cancer detection in Singapore remains robust, with increasing awareness and demand for early detection solutions.

Our strategy focuses on expanding our presence through strategic partnerships and enhancing accessibility to our tests across public and private hospitals and clinics so that more patients can benefit. We aim to educate healthcare providers and the public about the benefits of early detection, which can significantly improve treatment outcomes.

What do you think are some key differences in expansion strategy for a deep tech startup such as Lucence, especially compared to direct-to-customer verticals such as retail and e-commerce?

Unlike direct-to-consumer verticals, deep tech startups face unique challenges, such as additional regulatory requirements and the need for substantial scientific validation.

Also Read: Is a career in biotech right for you?

Our expansion strategy involves close collaboration with medical professionals and regulatory bodies, ensuring our solutions meet rigorous health standards grounded in scientific excellence.

What are some other areas of innovation Lucence is aiming to pursue?

Lucence is committed to expanding its product lines and exploring new innovations in cancer detection.

We are researching the application of novel biomarkers and artificial intelligence to enhance the accuracy and predictive power of our tests. Additionally, we are exploring ways to integrate our technologies with existing healthcare frameworks to create comprehensive screening solutions.

We are also working towards building more mainstream products designed for mass health screening needs.

Does your team use novel technologies such as GenAI in product development or business operations? If so, how?

Our team leverages AI and medical data science to recognise cancer signals in the blood and continuously refine our diagnostic services. This integration of cutting-edge technology supports our mission to provide precise, personalised cancer screening and diagnostics, enhancing the efficiency and effectiveness of our tests.

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

We are also increasingly incorporating other forms of AI to improve the operational efficiency of the global organisation across our business functions.

What are your big plans for 2024 and beyond?

For 2024 and beyond, Lucence is focused on scaling our operations internationally, especially in the US and other key markets. We plan to enhance our product portfolio with more comprehensive diagnostic tools and strengthen our global partnerships.

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Image Credit: Lucence

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Global payment processing company Payoneer has acquired Skuad, a Singapore-based HR and payroll platform, for US$61 million in cash.

The deal aligns with Paynoneer’s strategy to build a business-grade financial stack for international SMEs.

Also Read: How Southeast Asian businesses can overcome employee training challenges

It will accelerate the fintech firm’s growth strategy by enhancing its global workforce management services.

Skuad founder and CEO Sundeep Sahi said that the entire team will stay on after the transaction.

This decision was partly driven by the fact that many of Payoneer’s existing customers already use their Payoneer accounts for payroll services. With 25 per cent of its B2B customers seeking enhanced workforce management capabilities, this acquisition presents significant crossover potential.

“Our customers have been asking for more robust payroll solutions, and the acquisition of Skuad allows us to meet that demand,” said Nagesh Deveta, SVP of APAC at Payoneer. “We are seeing SMEs increasingly seeking scalable solutions and the best talent at the right cost without border limitations. This acquisition positions us to to serve our customers’ needs better drive growth.”

Payoneer aims to offer comprehensive payroll, employer of record, and contractor management services to meet the evolving needs of businesses in a post-pandemic world. The demand for remote and distributed work has created a need for scalable solutions that allow companies to hire the best talent globally without being constrained by borders.

Skuad streamlines the hiring, onboarding, payroll, and managing global talent, eliminating the need for local entities. To date, the firm has secured US$15 million in funding, including a US$4 million seed investment led by Beenext and Anthemis Group in December 2020. Its other backers are Alto Partners Multi-Family Office, Argor Capital, and Zenius Education CEO Rohan Monga.

Also Read: Will flexitime become the norm in Southeast Asia?

According to a 2023 ManpowerGroup study, over 55 per cent of employers are willing to hire internationally amid growing talent scarcity. Additionally, a 2023 study found that 42.5 per cent of organisations hiring cross-border face significant challenges in paying international workers.

The Wall Street Journal has also reported that the trend of outsourcing office jobs overseas is accelerating, with 10-20 per cent of US service support jobs potentially moving overseas in the next decade, according to an economist at Stanford University.

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