GAMEE, the mobile gaming platform behind the WatBird game and a subsidiary of Animoca Brands, has received an undisclosed investment from Pantera Capital (Pantera).

The company will use the funds to expand its presence on The Open Network (TON) via WatBird, which connects and onboards Telegram users to Web3 through fun, meme-inspired gameplay.

Also Read: Animoca Brands, Sky Mavis join Puffverse’s US$3M funding round

GAMEE was founded in 2015 and has been a subsidiary of Animoca Brands since 2020. It is a mobile gaming platform focused on onboarding a mass gaming audience to Web3.

It claims to have over 90 million registered users and has served over 10 billion gameplay sessions across multiple ecosystems.

GAMEE’s WatBird games and WatPoint mining have collectively onboarded 4 million user wallets into the TON ecosystem.

The company has partnered with over 40 major Web3 communities, including Mocaverse, TON, Notcoin, Decentraland, The Sandbox, and Cool Cats.

GAMEE recently raised funding from TON Ventures.

Also Read: Animoca Brands, Sky Mavis join Puffverse’s US$3M funding round

Pantera Capital is the first institutional investment firm focused exclusively on bitcoins, other digital currencies, and companies in the blockchain tech ecosystem. Pantera launched the first cryptocurrency fund in the US in 2013. The firm subsequently launched the first exclusively blockchain venture fund.

In 2017, Pantera was the first firm to offer an early-stage token fund. Pantera manages over US$5 billion.

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Image Credit: GAMEE.

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Singapore-headquartered global early-stage VC firm Antler recently announced the final close of Antler SEA Fund II, worth US$72 million. Fund II targets investing US$27 million in 45 early-stage startups over the next six to nine months. The final close comes amidst the significant increase in early-stage investments worldwide.

On the sidelines of the fund’s final close, e27 spoke with Jussi Salovaara, co-founder and Managing Partner of Antler Asia. In this interview, he discusses the new fund, its goals, the regional startup ecosystem, and AI.

Excerpts:

With Antler SEA Fund II closing at US$72 million, what sectors or technologies excite you most about Southeast Asia?

Southeast Asia is incredibly diverse, with each country offering unique opportunities. By 2030, 60 per cent of the region’s population is expected to be classified as middle class, driving significant demand for consumer-focused technology products and a rapidly growing B2B sector.

Our investments are concentrated in Singapore, Indonesia, Vietnam, and Malaysia, where we see the most potential for growth and innovation. For instance, Indonesia’s large and young population creates a massive market for consumer tech. Vietnam is emerging as a hub for high-tech manufacturing and gaming, driven by its highly skilled and educated workforce.

While we are sector-agnostic, we see significant potential in fintech and healthtech across the region, as these sectors address critical needs in rapidly growing economies.

Also Read: Antler closes US$72M SEA Fund II, to invest US$27M in 45 startups in 6-9 months

We are particularly excited about investing in AI, specifically non-generic AI solutions that address real challenges in local markets. These technologies will be crucial in driving the next wave of innovation across Southeast Asia.

The fund plans to invest US$27 million in 45 startups over six to nine months. How do you identify and select startups for investment, particularly in such a fast-paced environment?

Our SEA Fund II is created to back the region’s most promising early-stage startups, particularly in the high-growth AI, fintech, and B2B SaaS sectors. With plans to invest US$27 million in 45 startups over the next six to nine months, we maintain a disciplined approach to identifying and selecting founders who not only possess deep local market knowledge but also a clear vision for scalable and innovative solutions.

To date, we’ve deployed across diverse sectors, from AI-driven solutions to fintech platforms that address hyperlocal needs with global scalability. In such a fast-paced environment, our focus remains on founders committed to long-term growth with solid business fundamentals and a clear path to profitability.

We emphasize building strong relationships with founders by working closely with them for ten weeks during the flagship Antler residency to help them go from 0 to 1 before setting them on a path to build billion-dollar startups. This ensures alignment on vision and strategy before committing to backing them with their first cheque and future rounds on a rolling basis.

In this climate, we prioritize companies with resilient business models, prudent cash management, and the potential for sustainable growth rather than those chasing quick exits. This approach aligns with our belief that downturns can be the best time to invest in ventures with the potential to become market leaders as the economic climate improves. By supporting businesses through longer growth cycles, we aim to foster the next generation of impactful startups in Southeast Asia.

Seed-stage funding dominated the overall funding space in SEA. How will this play out in the coming months? Do you expect this trend to continue in the coming months, if not years, as well?

Seed-stage funding has played a critical role in the overall funding landscape in Southeast Asia, and this trend is likely to continue in the coming months, if not years. The region is experiencing rapid digitalization and economic growth, creating a fertile environment for early-stage startups to emerge and scale.

Moreover, our innovative ARC (Agreement for Rolling Capital) initiative provides continuous funding to early-stage companies. ARC allows founders to secure up to US$600,000 in funding within the first six to nine months of their company’s lifecycle, including initial investment, pro-rata follow-on, and ARC funding.

This approach ensures that early-stage companies have the financial support they need to navigate the critical early stages of growth. Founders can focus more on building their business and less on the often time-consuming fundraising process.

Given the increasing investor appetite for early-stage investments, driven by the region’s strong economic prospects and the rising middle class, we expect seed-stage funding to remain a key focus area.

Antler’s residency programs in Singapore, Indonesia, Vietnam, and Malaysia have produced promising startups. What roles do these programs play in your investment strategy, and how do they contribute to the fund’s success?

These programs are pivotal to our investment strategy, serving as a critical pipeline for sourcing and nurturing high-potential founders and startups in Southeast Asia. These programs provide founders with the resources, mentorship, and networks they need to build and scale their ventures from day one.

Also Read: Antler invests in 19-year-old’s AI-powered research and writing platform Intellecs

By offering a structured environment that includes co-founder matching, business model validation, and initial customer acquisition, our residency programs lay a strong foundation for success. This approach not only ensures that the startups emerging from these programs are well-prepared to thrive.

Building on this foundation, our residency programs also serve as a unique vantage point from which to observe and understand emerging trends and opportunities across different markets in Southeast Asia. These insights allow Antler to make more informed investment decisions and provide tailored support to each of our portfolio companies.

Moreover, the success of these programs has helped establish Antler as a trusted partner in the region’s startup ecosystem, attracting co-investors like Peak XV, 500 Global, YC, East Ventures, and many more. This reputation enhances our deal flow and creates a virtuous cycle of attracting talent, capital, and opportunities, ultimately contributing to our fund’s overall success and performance.

Given Southeast Asia’s strong economic growth and digitalization, how do you see the startup ecosystem evolving over the next few years? What opportunities are most promising in this region?

The region’s startup ecosystem will grow significantly over the next few years. Its rapid economic expansion, fueled by a young and increasingly tech-savvy population and rising internet penetration, creates vast innovation opportunities across multiple sectors.

As technology evolves, we anticipate a second wave of AI startups in 2024, particularly verticalized AI. This will lead to a stronger focus on building durable businesses, especially in media, customer lifecycle management, and integrating large language models (LLMs).

Industry 4.0, initially driven by the manufacturing sector, is now poised to transform all industry verticals in Southeast Asia. Its core principles of interconnectedness, data-driven decision-making, and automation are increasingly being applied to traditionally non-digital sectors, including construction, transportation, and healthcare.

Additionally, a new wave of startups is emerging in Southeast Asia, focusing on hyperlocal solutions with the potential for global scalability. As the global digital economy is expected to reach US$17.5 trillion by 2025, we see significant opportunities in e-commerce, fintech, productivity, and travel.

These startups are capitalizing on the region’s diverse and rapidly growing market landscape by developing solutions that address specific local pain points while incorporating scalable technologies for a global audience.

How is Antler leveraging advancements in AI and other emerging technologies to identify and support the next wave of successful startups?

At Antler, we recognize the maturing AI landscape as a fertile ground for startups to build enduring businesses by customizing AI solutions for specific industries. This insight has been driving our focus on Verticalized AI investments.

Also Read: Malaysia’s pension fund KWAP invests in Antler, Lapasar, Vynn Capital, Bateriku

In a recent US$5.1 million pre-seed investment round in Southeast Asia, 34 per cent of our investments were in verticalized AI startups, targeting sectors such as media, customer lifecycle management, and LLM integration.

We’re also leveraging AI internally through our portfolio company Persona Studios. Its conversational AI platform has transformed the application screening process for our residency programs.

By deploying AI-powered Personas and generating comprehensive screening reports with sortable metrics on founder potential, we can efficiently engage with thousands of applicants. This innovation has dramatically reduced our team’s workload, saving hundreds of hours monthly while enabling us to have initial conversations with nearly every applicant.

While AI has significantly enhanced our data-centric approach and efficiency, it’s crucial to note that we maintain human oversight in decision-making processes. This balanced approach allows us to harness the power of AI while ensuring that critical investment decisions remain in the hands of our experienced Scouting and Investment teams.

What are the biggest challenges you foresee for VC firms in the current global economic climate, and how is Antler preparing to navigate these challenges?

In the current global economic climate, VC firms face significant challenges, including economic uncertainty, fluctuating market valuations, and increased competition for high-quality startups.

Antler is strategically prepared to navigate these challenges by focusing on long-term value creation rather than short-term gains. We are investing in resilient sectors such as AI, fintech, and Industry 4.0, which are expected to drive significant innovation and provide stability in uncertain times.

Additionally, Antler emphasizes strong business fundamentals, prioritizing startups with solid business models, clear paths to profitability, and prudent cash management to mitigate the risks associated with volatile market valuations. To stay competitive in an increasingly crowded investment landscape, Antler leverages its deep connections in local ecosystems through its residency programs across Southeast Asia, allowing us to identify and nurture promising startups early on.

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Image Credit: Antler.

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Singapore’s traditional businesses, deeply rooted in sectors like retail and manufacturing, are at a critical juncture. As the global economy shifts towards digitalisation, the need for transformation has never been more urgent.  

Despite the accelerated adoption of digital payments by businesses and consumers in recent years, a study reveals that nearly one in two businesses in Singapore express a strong need for more innovative fintech solutions to tackle their pressing business concerns. 

While payment infrastructure has improved dramatically with PayNow and SGQR widely adopted, there are still problems with reconciliation and integration with operational workflows. Many international businesses in Singapore continue to rely on expensive wire transfers and slow bank transfers for cross-border transactions, which significantly hinders their efficiency and competitiveness in the global market. 

Fintech is not merely about flashy apps or cutting-edge technology; it’s about leveraging these tools to solve real business challenges, enhance efficiency, and open new avenues for growth. For Singapore’s traditional businesses, adopting Fintech solutions could be the key to remaining competitive and relevant in a rapidly evolving market. 

The current state of traditional businesses in Singapore 

Traditional businesses in Singapore are at a crossroads. On one hand, they carry the weight of legacy systems and processes that have served them well for years. On the other hand, they face the challenges of a digital economy where speed, efficiency, and customer centricity are critical to success. Many of these businesses are finding it increasingly difficult to keep pace with the demands of modern consumers and the global market. 

According to a study, a significant portion of Singapore enterprises still lean on traditional wire and bank transfers for making and receiving payments. This reliance on long-standing banking practices is deeply rooted in established relationships with traditional financial institutions.

However, these outdated methods introduce delays that add complexities to business operations, impacting cash flow, supplier relationships, and overall business efficiency. The resulting inefficiencies underscore the critical need for more effective and reliable payment solutions to facilitate seamless cross-border transactions. 

Moreover, Singaporean businesses themselves are displaying a strong commitment to digitisation, particularly for expediting payment processes. Approximately 38 per cent of these businesses consider it a top priority, with an additional 29 per cent identifying it as one of their primary objectives. This approach aligns with local government initiatives, which have introduced numerous schemes to encourage businesses to digitise and integrate financial technology into their operations. 

Also Read: Antler’s Southeast Asia focus: Nurturing the next wave of AI, fintech startups

Resistance to change is often rooted in the comfort of familiarity, but the risks of falling behind are significant. Without adopting new technologies, traditional businesses risk losing their competitive edge, market share, and even their long-standing customer base. Yet, this challenge also presents a unique opportunity: the chance to embrace digital transformation and unlock new growth potential. 

Why fintech? 

Fintech, or financial technology, encompasses a wide range of digital solutions designed to improve and automate financial services. For traditional businesses, Fintech may sound scary and unapproachable, but today’s solutions can be easily implemented out of the box.  

Key fintech solutions for traditional businesses 

Customer payments 

One of the most critical areas where Fintech can make a significant impact is in customer payments. Traditional businesses often rely on outdated payment methods, which can be slow, cumbersome, and costly.

Fintech offers a range of solutions that can modernise the payment process and improve the overall customer experience:  

• Payment gateways: These digital platforms facilitate seamless online transactions, enabling businesses to accept payments from customers quickly and securely. By integrating a payment gateway, businesses can offer a wider range of payment options, including credit cards, digital wallets, and even cryptocurrencies, potentially payment methods favoured by younger and tech-savvy customers. This can be a potential new growth avenue for B2C merchants to adopt Buy-Now-Pay-Later solutions to improve sales. 
• International collection: For businesses that operate across borders, managing payments from international customers can be challenging. Fintech solutions simplify cross-border payments, making it easier to collect funds locally in several countries and reduce the costs associated with foreign exchange. 
• Subscription management: Many traditional businesses are exploring subscription-based models to generate recurring revenue. Subscription management tools automate billing, payment collection, and customer retention, allowing businesses to monitor and manage customer renewals to scale their subscription services efficiently. 

Spend management 

Managing business expenses, especially international operations spanning multiple entities, can be complex and time-consuming. Fintech solutions in spend management provide businesses with the tools they need to streamline and control their spending. 

• International remittance: Cross-border payments can be expensive and slow, but Fintech solutions offer faster, more cost-effective ways to transfer funds internationally. These platforms typically offer better exchange rates and lower fees than traditional banks, making them an attractive option for businesses with global operations. 
• Corporate cards: Fintech-powered corporate cards such as Grof allow businesses to manage and track employee expenses with ease. These cards often come with real-time tracking and budgeting limits providing greater control and visibility over business spending. By leveraging such tools, businesses can not only monitor and manage expenses more effectively but also reduce the risks of overspending and ensure expense claims are compliant with internal financial policies. 
• Procurement process: Workflows can be set up for screening and approving new vendors by appropriate stakeholders to ensure compliance with credit and financial policies. New procurement orders can also be routed for the necessary approvals before business expenses are incurred. Fintech tools allow these workflows to be automated and managed on the go with significantly lower administrative costs. 

Also Read: Overcoming fintech hurdles in Southeast Asia’s dynamic market

Treasury management 

Effective treasury management is important for businesses looking to optimise their financial resources. Fintech solutions offer innovative ways to manage foreign currency holdings and maximise the yield on idle cash. 

• Foreign currency holdings: For international businesses dealing with multiple currencies, foreign exchange fluctuations are a key concern. Fintech platforms provide tools to monitor and optimise foreign currency holdings, helping businesses to forecast their foreign exchange requirements and take advantage of favourable exchange rates. 
• Cash yield enhancement: Idle cash sitting in business accounts represents a missed opportunity. Fintech solutions enable businesses to maximise returns on their cash holdings by investing in low-risk, high-yield financial products. These platforms offer easy access to money market funds, fixed-term deposits, and other investment options, allowing businesses to put their idle cash to work. 

Benefits of implementing fintech improvements 

Adopting Fintech solutions offers a multitude of benefits for traditional businesses, beyond just modernising their operations. Here are some of the key advantages: 

Enhanced operational efficiency 

Fintech solutions automate routine tasks, reducing the need for manual intervention and minimising the risk of errors. This automation streamlines business processes, leading to faster turnaround times and freeing up resources for more strategic activities. 

Cost savings 

By reducing transaction costs, eliminating inefficiencies, and automating repetitive workflows, Fintech can lead to significant cost savings. Businesses can also reduce the expenses associated with compliance and regulatory reporting through automated record keeping. 

Improved customer experience 

Today’s consumers expect fast, convenient, and secure payment options. By offering a wider range of payment methods and improving the overall transaction process, businesses can enhance the customer experience, leading to higher satisfaction and loyalty. 

Better financial management 

Fintech provides businesses with real-time insights into their financial performance, enabling more informed decision-making. By optimising cash flow and improving the management of foreign currency and other financial assets, businesses can achieve greater financial stability and growth. 

Competitive advantage 

In an increasingly competitive market, adopting Fintech can give traditional businesses a crucial edge. By staying ahead of the curve and embracing innovation, businesses can differentiate themselves from competitors and expand their market reach through global payment capabilities. 

Conclusion 

Fintech offers traditional businesses in Singapore a powerful toolkit to modernise their operations, improve efficiency, and unlock new growth opportunities. By embracing these digital solutions, businesses can stay competitive in a rapidly changing market and continue to thrive in the years to come.

The journey to digital transformation may be challenging, but the rewards—enhanced operational efficiency, cost savings, improved customer experience, better financial management, and a competitive edge—are well worth the effort. 

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Legal tech has evolved in recent years, brought about by the development of more AI tools for automating and optimising various legal tasks, particularly contract analysis, document review, and, in some cases, case prediction.

But at the heart of every AI-driven solution lies the quality and accuracy of the data used to train machine learning models.  And here lies the rub: Legal tech companies often deal with unstructured documents, where the essential data points do not adhere to a predefined data model. As such, data parsing is a critical component of any legal tech’s earlier core operations.

Data parsing encompasses a range of sub-processes, including extraction, organisation, and structuring of legal data from diverse sources such as contracts, case law, and regulatory documents. By parsing data, legal tech companies can improve the efficiency and effectiveness of their machine-learning models, particularly when dealing with sparse, noisy, or variable-quality data. This enhances the signal-to-noise ratio, improving the overall quality of insights derived from the data points.

However, developing an automated data parsing system from scratch can be prohibitively expensive, time-consuming, and complex, especially for startups that have not yet achieved product-market fit. Investing in such a system prematurely can drain valuable resources and divert attention away from more critical areas of tech development.

Also Read: Legal tech platform INTELLLEX raises US$2.1M funding round led by Quest Ventures

Offshoring data parsing offers an attractive alternative that allows startups to progress towards their next milestones without heavy upfront investment in time and cost. Here’s how offshoring can benefit your startup:

• Domain knowledge incorporation: Unlike building an automated system, it is easy for your domain experts to incorporate their knowledge into the data parsing processes, building a model for more informed feature engineering decisions should you pursue automation later down the road. 
• Gradual scaling: Offshoring enables startups to start with a small piece of the data parsing process and gradually scale up as business needs and market demands evolve. This incremental approach allows for flexibility and adaptability, ensuring that resources are allocated efficiently.
• Lower to no setup cost: The initial setup costs for offshoring are typically minimal, often limited to security deposits that offshoring companies require before commencing services. These deposits are usually equivalent to one to two months of service fees, making offshoring a cost-effective option for startups with limited resources.
• Ease of protocol changes: Offshore labor offers greater flexibility in adapting to changing protocols compared to automated systems. Manual processes can be adjusted more easily to accommodate evolving requirements or new data sources, providing startups with agility in responding to market dynamics.
• Cost efficiency: Offshore labour tends to be significantly cheaper than hiring onshore resources, allowing startups to grow their teams cost-effectively. This cost efficiency enables startups to allocate resources judiciously and invest in areas that drive value and innovation.

Also Read: Pay transparency, training, AI: Understanding HR’s emerging legal risks

Overall, while machine learning models may have demonstrated early impressive capabilities in learning directly from unstructured data, data parsing in the legal tech industry remains essential in preparing the data for machine learning tasks. However, automating data parsing systems may make more financial sense in larger, more mature organisations; for early-stage startups grappling with the pressure of efficiently allocating working capital, this approach may not be as effective.

Offshoring your data parsing work can serve as your startup’s secret weapon, particularly in the early stages of your tech development. By partnering with offshoring companies such as FullSuite, you gain access to resources and benefit from their oversight of protocol and process development, alleviating the burden on your lean team and allowing you to focus on what matters most.

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This article was first published on March 5, 2024

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The Echelon X fireside chat titled ‘USD493M Raised, 35 Markets Conquered, 1 Growth Story: The Journey of bolttech’ offered an in-depth look into the remarkable growth journey of bolttech, a leading digital insurance and protection company.

With nearly half a billion USD raised and a presence in 35 markets, bolttech’s story is one of rapid expansion, unique innovation, and strategic foresight.

Moderated by Catherine Shu, Director of Media and Content at The PR Group, the fireside chat featured Rob Schimek, Group CEO of bolttech. Schimek shared insights into the company’s extraordinary growth trajectory, highlighting the key factors that have contributed to its success.

bolttech’s journey is defined by strategic moves and innovation in digital insurance. Schimek discussed their market expansion approach, emphasising the need to understand local dynamics and tailor products to customer needs. He highlighted their commitment to technology, enabling seamless, personalised insurance solutions.

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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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Every year, many startups fail for multiple reasons. The most significant reason is the need for a growth strategy. According to research, 42 per cent of startups fail because there is no market for their solutions, while 29 per cent run out of cash.

Both a lack of market and cash are caused by strategic flaws. Every B2B startup needs a growth strategy to address both issues by ensuring product-market fit and revenue streams.

So, what is a growth strategy?

A startup’s growth strategy encompasses everything from idea generation to project wire-framing, identifying revenue streams, and more.

Getting the growth strategy right can help your B2B startups generate more revenue and profits. This article focuses on some of the best growth strategies B2B startups can use for their business. 

First, let’s understand why you need a growth strategy.

B2B growth strategy: Why do you need it?

B2B is different from D2C in terms of customers. B2B customers expect omni-channel engagement with on-demand solutions from their vendors. 

According to McKinsey, 78 per cent of top-tier B2B customers want performance guarantees during the sale. Similarly, there are four other key attributes that every B2B customer seeks out,

• Product availability
• Omni-channel engagement features
• Real-time customer service
• Consistent customer experience

What’s changed over the years is how tech-savvy modern B2B customers are. As a startup, you must offer on-demand solutions across channels. Here are some key strategies to achieve this and improve your B2B startup growth. 

Top B2B startup growth strategies 

An essential aspect of B2B growth is undistracted effort. You need to narrow your focus on specific growth pillars and go all in. 

However, the question that most startups face is where to focus. Here are some of the best strategies you can focus on to ensure B2B startup growth.

Shift to outbound

Most startups focus on inbound leads, leaving behind a more extensive audience section. The real growth opportunity lies in capturing the audience outside your market.

Yes! This may seem odd, but 95 per cent of the buyers who aren’t looking to make a purchase right now are your most significant opportunity! Every business has a specific bottleneck, but CEOs and CTOs often are unaware of the problem.

As a B2B startup, you need to tap into this audience. Create campaigns highlighting specific problems in these businesses’ current offerings to create a long-term cycle of leads. When you target a specific audience looking for solutions, they know the competition.

Also Read: The power of reverse marketing: How a bad review can drive massive exposure

So they will compare your services and make decisions, which leads to less lead generation. However, if you can highlight existing issues in businesses that are not looking for your services in the first place, you’ve hit the jackpot!

Take, for example, Salesforce’s “No Software” campaign. The SaaS company boldly opposed CRMs with on-premise infrastructure. To amplify the campaign, Salesforce had employees protest the streets with signboards. 

Build resource banks

Conventional B2B demand generation strategies for startups have been to acquire a net new pipeline. This strategy focuses more on the net value of new sales opportunities rather than taking a holistic approach.

Break away from this conventional approach and leverage a modern B2B growth strategy for your startups. You can build a resource bank that caters to businesses’ needs across the funnel. This growth strategy does not focus solely on new sales opportunities.

Instead, it helps attract, nurture, and convert more leads through resources across interaction points. For example, you can create content on the bottlenecks and issues of specific businesses. 

Similarly, you can provide its solutions, pitch your services, and add critical comparisons. This wholesome resource makes you the go-to brand for anything niche-specific.

Have a real omni-channel presence

Being on all digital channels is now a norm for any B2B startup. The reason is simple: Your target audience is present on multiple channels, so you need to be there.

However, it’s not just about being present in a snooze mode. Yes, you need to prioritise real connections and customer engagement across channels.

Executing bots to communicate on your behalf on such platforms can be off-putting. Instead, have your team present on omni-channel, communicating, engaging, and nurturing leads.

Make your customers self-dependent

This B2B growth strategy can confuse many startups. Because entrepreneurs may argue that if you are making them independent why will they engage with the startup?

So, the answer is self-service portals. You don’t need to make them self-reliant on the service side but on the support side. This is also important on the sales side. If you can have resources that provide answers B2B customers are looking for without interacting with your sales team, “It’s a win-win.”

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

According to Gartner, 72 per cent of B2B buyers want to buy without sales team interactions. This shows how making the customers self-reliant early in your interaction journey can impact conversions.

Obsess over your customers 

Obsessing your audience correctly can be a startup’s best B2B growth strategy. This means spending time researching each aspect of your audience. From profiling, account-based research, communications, and one-on-one sessions, customer obsession has no limit.

Diversifying your efforts is key to B2B growth. Have a team of researchers, data analysts, and salespeople work continuously on understanding the audience.

Knowing the target business well helps you cater to custom solutions and become their go-to partner. 

Offer on-demand flexibility

As you know by now, a key demand by B2B businesses is for on-demand services and solutions.

Most businesses need help dealing with the changing customer demand. So, providing on-demand flexibility regarding tech, infrastructure, workforce, and other resources is crucial. It will help your startup create long-term partnerships and a customer base.

Hear what your customer says

Startups can narrowly focus on customers if they spend enough time listening rather than talking. One key B2B growth strategy is to capture the Voice of Customers (VoC).

It is a systematic approach in which you hear your customers on each aspect of the problem, from how they feel about your product or services to the improvements they need. 

To ensure trust, you must be open to criticism and make quick changes. This includes ensuring security and privacy in your systems. Maintaining user data privacy during sales communication and customer services also helps build trust.

All of your security efforts must be conveyed to customers across channels. You must also get feedback on security aspects from your customers and implement quick measures. This allows your startup to gain more trust and improve conversions. 

Get your whiteboard ready

The B2B space is getting extremely crowded. With many startups building solutions catering to customers’ varying needs, you need a strategic advantage. Using these B2B growth strategies, you can gain a competitive advantage in a saturated market.

Most importantly, these B2B growth strategies allow you to tap into a broader market. Plus, you will have a holistic approach to engaging with the target customers and ensuring better lead conversions. 

However, you must analyse your target audience, market, competitors, and product before implementing the above B2B growth strategies. You should also conduct a comprehensive audit of your campaigns to ensure result-oriented efforts.

A best practice for the above strategy is to conduct A/B testing. It will help you understand the impact and fine-tune strategic efforts. 

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The Echelon X panel discussion titled ‘When Should Founders Exit? How Founders Can Prepare and Overcome Challenges For an Exit’ provided valuable insights into the complex decision of exiting a business.

The session featured experienced founders, investors, and exit advisors who shared their perspectives on the optimal timing for an exit, the preparation required for a successful exit, and the common challenges faced during the exit process.

Moderated by Admond Lee, Founder of The Runway Ventures, the panel included:

• Patrick Linden, Co-Founder and Managing Partner of match.asia
• Hiroyuki Kiga, General Manager of Payments at M-DAQ Global
• Jin Low, Director of Restructuring at Kroll
• Paul Hadjy, CEO and Co-Founder of Horangi

Each speaker brought a wealth of knowledge and experience to the discussion, offering practical advice and strategies for navigating the exit process and sharing valuable insights and strategies for navigating the complex decision of exiting a business.

By understanding the optimal timing, preparing thoroughly, and overcoming common challenges, founders can successfully navigate the exit process and achieve their goals. The session offered practical advice and perspectives that can help founders make informed decisions and plan for a successful exit.

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Dear reader,

Cake Group and Geniebook, both Singapore-based firms, are facing significant challenges as they grapple with industry-specific downturns.

Cake Group, parent to crypto platform Bake.io, is undergoing another round of layoffs despite resolving a damaging feud between its founders. CEO Julian Hosp has emphasized the need for cost-cutting measures to achieve sustainability, following substantial revenue declines since the 2022 crypto winter.

Meanwhile, Geniebook, an edtech startup once buoyed by the online learning boom, has laid off 117 employees this year. CEO Zhizhong Neo attributes these cuts to the “funding winter” and shifting market demands, as the company refocuses on a hybrid learning strategy.

Both companies are striving for financial stability amidst challenging market conditions, with Cake Group targeting breakeven and Geniebook aiming for positive cash flows by year-end.

Sainul,
Editor.

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NEWS & VIEWS

Finture scores US$30M to take its consumer finance brand YUP beyond Indonesia
The investors are MindWorks Capital, XVC, SWC Global, Richen Pioneer, and Antao Capital; YUP connects users with pay-later services from licensed financial institutions while offering promotional benefits.

Cake Group slashes more jobs despite end of founders’ feud
CEO Julian Hosp acknowledged that the latest layoffs are similar to Cake Group’s decision in November 2023 to trim its headcount by 30%; However, he didn’t say how many staff would be affected this time.

Sinar Mas Land’s CVC arm invests in Lamudi Indonesia
Currently, proptech marketplace Lamudi provides services, such as omnichannel marketing solutions, for over 425 property projects; It works with over 30,000 real estate agents in the archipelago.

Conversational AI platform SleekFlow nets US$7M for global expansion, AI innovation
The investors include Atinum Investment, AEF Greater Bay Area Fund, and Transcend Capital; By integrating conversations, product catalogs, payments, and order management, SleekFlow provides a unified business platform.

DiMuto concludes US$5.9M Series A round to digitize food supply chain
The investors are The Yield Lab Asia Pacific and SiS Cloud Global Tech Fund 8; DiMuto claims to have tracked and traced millions of pieces of produce and millions of dollars of trade value on its platform.

Geniebook sheds over 100 jobs as learning goes back to school
The Singapore-based edutech firm has laid off 117 employees since the beginning of 2023; Co-founder Zhizhong Neo said the “reality of the funding winter” and changing market demands led to the job cuts.

Paytm sells movie ticketing business to Zomato for US$244M
The acquisition includes Paytm’s ticketing services for movies, sports and events. As part of the deal, Paytm’s flagship app will continue to host these offerings for up to 12 months and 280 of its employees will join Zomato.

The banks that loaned Musk US$13B to buy Twitter might be having regrets
Elon Musk borrowed US$13B from Morgan Stanley, Bank of America and five other major banks to help finance its US$44B acquisition; According to the WSJ, the deal has since become the worst merger-finance deal for banks since the 2008-2009 financial crisis.

India’s trade minister decries e-commerce growth, Amazon’s ‘predatory’ pricing
Piyush Goyal expressed concern over the rapid growth of e-commerce in the country, warning of potential disruption to small retailers; India’s $1.1 trillion retail market saw e-commerce sales of less than US$80B last year.

Joel Neoh’s First Move, Gobi Partners Affiliate back financial services firm FinKnight
FinKnight claims to have helped over 15 startups navigate complex financial landscapes, optimise operations, and achieve sustainable growth.

WatBird game developer GAMEE bags investment from Pantera Capital
GAMEE will use the funds to expand its presence on The Open Network via WatBird, which connects and onboards Telegram users to Web3 through fun, meme-inspired gameplay.

MARC, SME Bank team up to support entrepreneurs and SMEs in Malaysia
This collaboration aims to foster a thriving entrepreneurial ecosystem in Malaysia by combining MARC’s strengths in credit ratings, economic research, and data analytics with CEDAR’s expertise in business coaching and entrepreneur-focused mentoring.

Dropbox acquires Index Ventures-backed AI scheduling tool Reclaim.ai
Reclaim.ai focuses on using AI to help users better manage their time and find slots for meetings and tasks, build personal habits, and take breaks.

Microsoft’s Malaysia COO poised to lead MDEC: sources
Azizah is one of three candidates under consideration; The other two are Dzuleira Abu Bakar, the former CEO of the research agency Mranti, and Shah Sidek of the International Data Centre Authority.

FEATURES & INTERVIEWS

Antler’s Southeast Asia focus: Nurturing the next wave of AI, fintech startups
Antler co-founder Jussi Salovaara shares insights on funding trends, investment criteria, and the future of the region’s startup ecosystem.

Echelon X: AnyMind Group co-founder Otohiko Kozutsumi on the third evolution of the creator economy
The Echelon X fireside chat highlighted how AnyMind Group’s AnyTag platform is revolutionising the future of influencer marketing

After successful Vietnam, Thailand entry, PasarPolis gears up for Singapore expansion
Since expanding into Thailand and Vietnam in 2019, PasarPolis has sold millions of policies in these markets; Earlier this year, PasarPolis reported 2x revenue growth since its last funding round in 2023 and a 250% surge in Gross Written Premium.

Climate tech in the Philippines: Capitalising on emerging opportunities in the ecosystem
Climate tech startups in the Philippines are at the forefront of addressing the most urgent environmental challenges.

Echelon X: Founders’ approaches to sustainable startup growth and well-being
The Echelon X panel shared personal stories, strategies, and advice on maintaining well-being while managing startup demands.

Chocolate Finance wants to be a ‘happy place’ for Singaporeans to grow their wealth
Chocolate Finance has garnered support from investors such as Saison Capital, Peak XV Partners, Prosus, GFC, and actor Henry Golding.

FingerDance uses AI to bridge communication with deaf, hard-of-hearing communities
Operating on a B2B model, FingerDance aims to extend its reach by partnering with more organisations in the future.

ReSkills shares AI integration plan as it moves towards a NASDAQ listing
ReSkills offers users access to a vast library of classes for just US$1 per month, making education affordable and accessible.

Tapway drives SEA expansion with new vision AI platform, partnership
Tapway is poised to introduce several groundbreaking innovations in the next 12 months, focusing on advancing Vision AI technology.

THOUGHT LEADERSHIP

Navigating the Gen AI wave: A startup’s battle plan
Key strategies for entrepreneurs leveraging Gen AI, from using existing models to managing costs and mitigating misinformation risks.

How startups should pivot towards being customer-centric
How ready are businesses to adopt new ways of ensuring they’re fully customer-centric, from awareness to conversion and beyond?

Re-skilling in the age of AI and navigating the future of work in Malaysia
As modern technologies continue to impact the workforce in Malaysia, the importance of re-skilling and up-skilling cannot be overstated.

The rise of Web3 and crypto startups: Pioneering the decentralised future
The rise of Web3 and the subsequent surge in crypto startups marks an era of unprecedented innovation and transformation.

A startup founder’s guide to investment agreements
The article sets out a summary of the usual investment agreements and documents during a priced round capital raising exercise for startups.

The new era of computing: Single board computers for home automation and AI
Single-board computers (SBCs) are shifting from industrial use to mainstream hobbyist applications in home automation, personal servers, and AI.

Kuala Lumpur: The Silicon Valley of Malaysia
Kuala Lumpur, with its vibrant and dynamic environment, stands at the forefront of this transformation, attracting both local and international investors.

FROM THE ARCHIVES

Is there a sudden slowdown in the pace of digital transformation globally?
Matija Kapic of Infobip says if businesses refrain from adopting digitalisation, they will lose approximately US$145 billion of GDP growth.

15 strategies for a successful acquisition
I have completed more than 30 corporate acquisitions on both sides of the transaction. Here are the most important, hard-won lessons.

Circles.Life marketing head Delbert Ty shares their viral campaign recipes
Delbert Ty of Circles.Life explains in this article how marketers can evoke strong, visceral emotions with their campaigns.

Fundamentals of cap tables for founders
Most investors will ask for a cap table when you go to seek funding. It will determine the per-share price that will be used in the financing.

Looking beyond the surface of optimising customer experience
As the VP of marketing at PayPal, this is what I can share on how e-commerce startups can optimise their customer experience.

3 ways AI technology can help startups save money
Leveraging AI technology can drastically improve the performance of your business. This is how you can achieve it.

What you should expect from your startup mentor
Make sure your startup mentor is a pillar of support and not one who constantly disparages and puts you down.

5 incentives that can be helpful in attracting awesome employees
When it comes to employees, you can’t expect the best of the best unless you can provide suitable incentives.

Preparing your company for Southeast Asia: A strategic guide to the market
Companies looking to enter this treasure trove must devise a feasible plan that tackles the regional differences in Southeast Asia.

The post Ecosystem Roundup: Cake Group, Geniebook slash jobs | Zomato buys Paytm’s movie ticketing biz for US$244M | Finture raises US$30M appeared first on e27.

Many children find it challenging to openly express their thoughts and emotions, leading to isolation, misunderstanding, and emotional disconnect within families. This issue is especially acute for children with ADHD and autism, who often encounter additional obstacles in articulating their inner experiences, further complicating their ability to connect with their caregivers. But this is where MangaChat aims to play a role.

MangaChat is committed to bridging this communication gap, ensuring all children can authenticate themselves and maintain an open dialogue with their caregivers, including parents, therapists, and counsellors.

The platform is designed to empower children by providing a safe, fun, and accessible online journaling experience that encourages them to explore and share their inner worlds. Through this innovative approach, MangaChat aims to foster stronger emotional connections within families and support the well-being of children with diverse communication needs.

“While many online journaling tools exist, MangaChat stands out by integrating the arts, artificial intelligence, and a gamified cognitive behavioural therapy (CBT) process. This unique combination offers a holistic approach to supporting children’s mental well-being,” says Renee Chong, Co-Founder and COO, in an email to e27.

MangaChat’s product development process is highly iterative and user-centric. It begins with feedback on the initial minimum viable product (MVP) gathered from partner schools and mental institutions.

Also Read: How autism shaped my life and what I want people to know

The platform is continually refined through user surveys and insights from teachers, therapists, and counsellors, focusing on enhancing the front-end user experience and gamifying the journey to increase engagement among children.

On the backend, MangaChat’s system analyses captured data and integrates CBT with AI, delivering tailored images and messages that align with the children’s emotions and specific scenarios, thereby improving their overall engagement and communication.

“We engage with them through a B2C model by reaching out to parents, a B2B model by partnering with schools and afterschool programmes, and a B2B2C model by collaborating with counsellors and psychiatrists,” Chong says.

MangaChat currently operates on a subscription-based model. It also offers white labelling services and Software as a Service (SaaS) solutions, allowing institutions to customise the platform to meet their specific needs.

“By combining these revenue streams and strategies, MangaChat can ensure financial sustainability while providing valuable services to children, parents, and professionals. The diverse approach to monetisation allows for flexibility and resilience, adapting to market demands and user needs over time.”

Next destination

MangaChat is one of the startups nurtured under the Technology for Sustainable Social Impact (TS2) accelerator programme.

Also Read: FingerDance uses AI to bridge communication with deaf, hard-of-hearing communities

TS2, a collaborative initiative by NUS Enterprise—the entrepreneurial arm of the National University of Singapore—and the Singapore Centre for Social Enterprise, raiSE, aims to empower startups committed to creating human-centred social impact. Through this programme, MangaChat has gained crucial financial support and access to a vast ecosystem of networks, fostering connections that have been vital to its development.

Chong expresses profound gratitude for the mentorship and guidance received through TS2. The programme’s emphasis on shared experiences and community has been instrumental in their journey. She highlights the invaluable support from mentors such as Michelle Lim, CEO of M.A.D. School, and Hugh Mason, who provided critical insights and guidance that have significantly contributed to MangaChat’s growth.

“It truly takes a village to raise a child, and we experienced that firsthand through the TS2 Accelerator programme,” Chong says.

MangaChat’s founding team comprises diverse professionals with extensive experience in their respective fields. Leading the team is Founder and CEO, Sheng-Fang (Joe) Huang, who holds a Ph.D. in Computer Science and has a decade of experience as a university professor in Medical Informatics.

COO Renee Chong brings 17 years of experience as an educator and policy maker with the Ministry of Education in Singapore.

Also Read: FingerDance uses AI to bridge communication with deaf, hard-of-hearing communities

The team also includes CTO Paul Yao, a seasoned full-stack web developer with 10 years of experience, CCO Bernard Soo, who has 18 years of banking experience and previously served on the EXCO of the Singapore Fintech Association, and Dr. Chao-Hsiang Hung, a Data Scientist with a Ph.D. in Educational Psychology. The total team size currently stands at eight members.

To date, MangaChat’s funding has been raised through personal contributions from the founding team’s friends and family. As the company continues to grow, the team is actively exploring opportunities for external investment to support its future development and expansion.

Chong shares the company’s plan for 2024 and beyond: “We aim to deepen our partnerships with primary schools, afterschool centres, and mental institutions in Taiwan and Singapore. We also aim to broaden our reach to the youth segments.”

“Additionally, we will introduce MangaChat into Southeast Asian markets such as Vietnam, Indonesia, and Thailand from 2024 and beyond.”

—

Image Credit: NUS Enterprise

The post MangaChat helps children express their feelings better with AI-powered gamified CBT platform appeared first on e27.

The Philippines has emerged as one of Southeast Asia’s most dynamic and rapidly evolving startup ecosystems, driven by a unique blend of innovation, entrepreneurial spirit, and a growing digital economy.

With a population of 115 million, increasing internet penetration and the rising middle class have created fertile ground for startups across various sectors, from fintech and e-commerce to edtech and healthtech.

In 2022, local startups raised US$1.1 billion, exceeding the US$1.03 billion raised in 2021.

Fintech has been at the forefront of the Philippine startup ecosystem. E-commerce, edutech, and healthtech have grown significantly in recent years.

While the Philippine startup ecosystem is thriving, it faces challenges such as limited access to funding, regulatory hurdles, and the need for more robust infrastructure. However, these challenges are being addressed through increased government support, the rise of local venture capital firms, and the growing interest of international investors in the region.

Having said that, the future of the Philippines looks promising, with an increasing number of Filipino startups gaining traction.

Also Read: Forget the rest: This is why you should build your startup in the Philippines

We have compiled a list of the Philippines’s most exciting startups that have made their mark in their respective industries.

Kumu

A global livestreaming app made by Filipinos for Filipinos and Filipinos-at-heart.
The platform allows users to connect with fellow Filipinos around the world and watch live shows, post updates, and earn money. It also offers features like personal and group chat, games, and more. Users can also participate in quizzes, live shows, and more.

Founding year: 2107
Total funding raised: US$100 million
Investors: General Atlantic, Openspace Ventures, SIG Venture Capital, Foxmont Capital Partners, Kickstart Ventures, Summit Media, Gentree, Endeavor, Core Capital,
ABS-CBN Corporation, 10 Square Capital, Manila Angel Investors Network, Two Culture Capital, RISE, Gobi Partners, Flowing Ventures, and Communitas Founders.

PDAX

An online exchange platform for cryptocurrencies. It allows users to buy, sell, and manage cryptocurrencies and utility tokens. Supports Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin.

Founding year: 2017
Total funding raised: US$62.5 million
Investors: Tiger Global Management, Kingsway Capital, Jump Capital, Draper Dragon, Oak Drive Ventures, Ripple, DG Daiwa Ventures, Beenext, Cadenza, Ubx Fund, BC Group,
CMT Digital, BitMEX, ConsenSys Ventures, Unifier Ventures.

Inteluck

It provides web-based software solutions for the logistics industry. Its products include fleet tracking, vehicle management, and ePOD systems. Its clientele includes 2GO SCVASI, ASTIR Engineering Works, ISUZU, and Royal Cargo among others.

Founding year: 2014
Total funding raised: US$56 million
Investors: Navegar, East Ventures, CREO Capital Partners, Headline, Mindworks Capital, Lalamove, Future Capital.

Edamama

A platform offering mom and baby products. Its offerings include garden kits, travel accessories, diapers & wipes, safety products, breastfeeding accessories, bathing & grooming, and learning products.

Founding year: 2019
Total funding raised: US$35 million
Investors: Kickstart Ventures, AC Ventures, Gentree, Innoven Capital, GS Group, Alpha JWC Ventures, Robinsons, Foxmont Capital Partners, Communitas Founders.

MoneyMax

It develops an online comparison platform. It offers solutions for credit cards, insurance, loans, and broadband plans. It is also a financial news aggregator and provides a consumer user guide to using different financial services.

Also Read: Are traditional conglomerates in the Philippines finally embracing corporate investing?

Founding year: 2013
Total funding raised: US$50 million =
Investors: IFC, Alibaba Group, SBI Group, Goldman Sachs, Nova Founders Capital, acecompany-inc.com.

Salmon

It develops a platform offering business and consumer loans. The platform enables customers to access financial products from partners registered with the Securities and Exchange Commission (SEC) in the Philippines.

Founding year: 2022
Total funding raised: US$25 million
Investors: IFC, Northstar Group, Argentem Creek Partners, TNB Aura, DisruptAD.

Great Deals E-commerce

A provider of suite solutions for brands. Its service includes storefront management, marketplace management, content & production management, digital marketing, analytics & insights, customer support, warehouse & fulfillment, and order & inventory management.

Founding year: 2017
Total funding raised: US$42 million
Investors: CVC, Navegar, Fast Logistics.

First Circle

An online platform for trade financing. It offers loans such as invoice financing, and purchase order financing. Borrowers can register via audited financial statements, proof of sales, and bank statements, along with invoices & purchase orders. It purchases the invoice on the client’s behalf. Funds are transferred to the registered bank account.

Founding year: 2016
Total funding raised: US$37.1 million
Investors: IFC, Venturra Capital, Insignia Ventures Partners, tryb, Silverhorn, Accion, DeepBlue Ventures, Key Capital Partners, Spiral Ventures, 500 Durians, Bangkok Bank InnoHub, Inclusive Fintech 50, Alter.

SariSuki

An online platform offering multi-category grocery supplies. It provides local communities offering fresh groceries through the Ka-Sari community. It offers fruits & vegetables, sweets & snacks, dairy products, and meat & seafood. The SariSuki app allows Ka-Sari community leaders to create and manage personal stores offering SariSuki products for sale. The company offers mobile applications for Android and iOS platforms.

Founding year: 2020
Total funding raised: US$24.8 million
Investors: Kickstart Ventures, Openspace Ventures, SIG, JG Digital Equity Ventures, Global Founders Capital, Saison Capital, Foxmont Capital Partners, SIG Venture Capital, Alter.

Sprout

A cloud-based platform for human resource management systems. The platform offers tools for managing onboarding, recruitment, payroll, training, employees, and performance. It allows users to manage attendance and time. It also enables employee engagement.

Also Read: Why I left a budding career in the US to help aspiring developers in the Philippines

Founding year: 2015
Total funding raised: US$18.5 million
Investors: Cercano Management, GSR Ventures, AFG, Integra Partners, Mynavi, ACA Investments, SBVA, Point72 Ventures, Kickstart Ventures, Wavemaker Partners, Beenext, Endeavor, Dymon Asia Capital, Next Billion Ventures, Acceleprise, Right Side Capital Management, ACA Investments, Forum Ventures.

Revolution Precrafted

A designer and developer of pre-fabricated properties. It develops pre-fabricated homes, pavilions, modular hotels, amenity spaces, pop-ups, and furniture. It caters to enterprises and consumers.

Founding year: 2015
Total funding raised: US$15.4 million
Investors: K2 Global, 500 Durians

CloudEats

The Internet’s first restaurant offering food delivery, the company operates multiple cloud restaurant brands with proprietary cloud kitchen technology. Its offerings include burgers, chicken wings, rolls, meal bowls, and more.

Founding year: 2019
Total funding raised: US$14 million
Investors: Nordstar, Gobi Partners, BAce Capital, Vulpes Ventures, interainvestmentslimited.vdtrxn, gmavntures.vdtrxn, Core Capital, Pc3n Ventures.

Mober

A provider of electric fleet-based last-mile delivery services, the platform offers technology-driven logistics services with shipping, AI-optimized route planning, booking solutions, and more. It provides a tracking feature that allows users to track and monitor the delivery progress in real time.

Founding year: 2016
Total funding raised: US$10 million
Investors: Clime Capital Management, Rtheptagonholdings, 2GO Group, Index Partners.

Kalibrr

An online job-matching platform provider. Candidates can make their online profile which contains their contacts and other employment details. Companies can search for candidates either by posting their own JD for free or through the candidate database. It charges the companies for the candidates they select from the database.

Founding year: 2012
Total funding raised: US$9.6 million
Investors: Y Combinator, Kickstart Ventures, Omidyar Network, Learn Capital, Siemer & Associates, FundersClub, Unreasonable, Wavemaker Partners, Future Now Ventures,
Eudaimonia Capital, Spiral Ventures, Patamar Capital, SAGANA, FCVC, Cento Ventures, Flowing Ventures.

Lifetrack

An intuitive software platform for the entire healthcare ecosystem. It has developed software that assists with imaging and medical documentation. The patent-pending platform offers templates for creating reports and an integrated decision support library that aids in the training, education, and skills improvement of Radiologists.

Also Read: Why it is important for tech companies to expand outside metro cities in the Philippines

Founding year: 2012
Total funding raised: US$5.2 million
Investors: UOB, Kickstart Ventures, Philips, Plug and Play APAC

Plentina

Plentina provides an online platform for purchase financing. It enables customers to make installment payments for in-store products. It also provides alternative credit scores using machine learning algorithms.

Founding year: 2019
Total funding raised: US$5.2 million
Investors: TMV, Global Founders Capital, Techstars, Unpopular Ventures, ACDI, JG Digital Equity Ventures, Amino Capital, Ignite Impact Fund, Western Union, Emergent Ventures, 500 Global, Vaidya Capital Partners, Flexcap Ventures Management,
Upscale Ventures, Tess Ventures, Clearsign Capital.

FlySpaces

Flyspaces is an “Airbnb for office and retail spaces”. The company is building a network of offices, meeting rooms, and commercial spaces that businesses and entrepreneurs can lease for short periods or whenever they need them.

Founding year: 2015
Total funding raised: US$2.6 million
Investors: Future Now Ventures, COENT Venture Partners, Narra Venture Capital, Rubina Real Estate, Reapra, Oak Drive Ventures.

PawnHero

PawnHero is an online platform for pawn loans. It enables users to access loans on the basis of approved collaterals. Users can collateralize products such as luxury watches, smartphones, jewelry, and designer bags. It provides a cash card for withdrawing the loan amount from ATMs.

Founding year: 2014
Total funding raised: US$9.7 million
Investors: Spiral Ventures, 500 Durians, Hatchd Digital, Softbank China and India Holdings.

GrowSari

An online B2B marketplace offering products and services. It uses marketplace technology to connect stores to the companies and allows owners to add products such as rice, fruits, vegetables, flour, sugar, and beverages.

Also Read: Growsari lands US$5M to empower 1.3M sari-sari store owners in Philippines

Founding year: 2016
Total funding raised: US$110 million
Investors: opp-gen.com, IFC, KKR, Pavilion Capital Partners, Saison Capital, ICCP SBI Venture Partners, Tencent, Wavemaker Partners, Robinsons, JG Digital Equity Ventures,
JG Summit Holdings, Endeavor, Hatchd Digital, NOMD.

TOKI

Toki is a social commerce platform designed for collectors. It offers a new collectible trading experience, allowing collectors to buy and sell items in one place. Toki aims to simplify transactions and provide a seamless platform for collectors to connect and engage with each other.

Founding year: 2023
Total funding raised: US$1.8 million
Investors: Kaya Founders and Foxmont Capital Partners

Nextpay

It provides accounts payable, receivable management, and payment automation solutions for businesses. It enables businesses to make online payments to employees and suppliers and collect online payments from customers. It facilitates payments via bank transfers, credit/debit cards, wallets, and more. It provides solutions to entrepreneurs, solopreneurs, and other businesses.

Founding year: 2019
Total funding raised: US$1.7 million
Investors: Golden Gate Ventures, Gentree, Kickstart Ventures, First Asia Venture Capital, Foxmont Capital Partners, Tribe Capital, 1982 Ventures, Saison Capital, Razorpay, Broadhaven Ventures, Y Combinator, South Quad, Amand Ventures, 335 Fund.

Parallax

A software platform for resource planning and financial planning. It offers solutions for resource planning, forecasting, sales pricing, sales forecasting, projecting financials, business intelligence, billable capacity tracking, project management, and more.

Founding year: 2019
Total funding raised: US$24.5 million
Investors: Baird Capital, Rally Ventures, Grotech Ventures, Matchstick Ventures, Great North Ventures.

Shipmates

An online platform offering courier solutions for e-commerce businesses. The platform provides shipment booking solutions through multiple on-demand and standard courier platforms. It offers multi-courier shipment tracking, automatically generated bills, same-day pickup & delivery, and bulk booking.

Founding year: 2021
Total funding raised: US$2.3 million
Investors: Wavemaker Partners, Cathexis Ventures, Taurus Ventures, Sketchnote, Y Combinator, CapitalX, MyAsiaVc, Grant Park Ventures, XA Network, Monk’s Hill Ventures, Buko Ventures, Iterative, 335 Fund, Dhuna Ventures, AG Collective Capital.

Zipmatch

An online listing platform for residential properties. It offers quality listings that give buyers a source of legitimate properties and help sellers find qualified buyers. Its property matching service also helps educate buyers with informative articles, 360-degree views of cities and properties, flood maps, a concierge service, and a mortgage calculator. It lists both existing properties that are for sale and pre-sales for new development along with house rentals. It also matches users with property brokers and home loan providers.

Also Read: The extraordinary tale of a Filipino geek who swam against the odds in life

Founding year: 2012
Total funding raised: US$3 million
Investors: Kickstart Ventures, Monk’s Hill Ventures, 500 Durians, Spiral Ventures, Hatchd Digital, Alps Ventures, Launchpad Accelerator.

Edukasyon.ph

Edukasyon.ph is a social enterprise that helps students find colleges. The site contains details of the scholarships available to Filipinos and helps users search by location, associated subjects, associated colleges, value, and entrance requirements.&nbsp.

Founding year: 2015
Total funding raised: US$3.4 million
Investors: Lorinet Foundation, Bisk Ventures, KSR Ventures, Mustard Seed, French Partners, alternateventures.com, EduLab Capital Partners, Obunsha Ventures, Foxmont Capital Partners, First Asia Venture Capital, Core Capital, Gobi Partners, RISE,
BWiz Capital, INSEAD Alumni France Ventures.

BayaniPay

An online platform for cross-border money transfers. Users can create an account and verify their email and mobile number, and upload a valid ID. Users can also link bank accounts for money transfers.

Founding year: 2021
Total funding raised: US$9.6 million
Investors: Wavemaker Partners, Talino Venture Studios, Ptgb, East West Bank, Four Doors Down.

Packworks

A provider of software suite solutions for community-based micro-retailers. The company provides mobile applications that enable microbusinesses to manage inventory, bookkeeping, customer & product data, and logistics details. The app features include POS-enabled to track all purchases, data analytics for business intelligence, real-time stock inventory, and more.

Founding year: 2012
Total funding raised: US$2 million
Investors: CVC, FAST Logistics Group, ADB Ventures, Techstars, IdeaSpace Foundation, Arise, MDI Ventures.

BillEase

An online platform for point-of-sale financing, it enables users to purchase products and repay in monthly installments. The user must create an installment request and adjust the website sliders to choose the order value, cash-out amount, and installment term length. After providing the required documents, the approvals are provided, and the amount is credited to the wallet.

Founding year: 2017
Total funding raised: US$20 million
Investors: Saison International, Helicap, Lendable, Burda Principal Investments, Hubert Burda Media, KB Investment, Centauri Fund, MDI Ventures, 33 Capital.

Mayani

An online platform offering multi-category grocery products, the company offers organic fruits and vegetables, frozen meat and seafood, dairy products, packed foods, and more. It claims to offer free shipping on purchases over a minimum amount.

Also Read: Are startups neglecting the future middle-class population in Philippines?

Founding year: 2019
Total funding raised: US$1.7 million
Investors: Ninjacart, Atlas Venture, Ocean Impact, TheVentures, Plug and Play Tech Center, AgFunder, IdeaSpace Foundation, Unlock Venture Partners, Accelerating Asia, RISE, GROW.

Niv Della

Founded in 2015 by entrepreneur-turned-content creator Nina Dizon-Cabrera, Niv Della provides makeup products suited for the Filipino lifestyle, skin tones, and the country’s hot and humid climate. Its shade ranges and diverse marketing campaigns highlight its commitment to inclusivity.

Founding year: 2015
Total funding raised: US$2 million
Investors: DSG Consumer Partners and Foxmont Capital Partners.

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Image Credit: 123RF

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