In the current business environment, startups are increasingly expected to incorporate Environmental, Social, and Governance (ESG) principles into their operations. The growing awareness around sustainability and social responsibility means that startups are not only evaluated by their financial performance but also by their impact on society and the environment.

As emerging companies with the potential to disrupt industries, startups have a unique opportunity—and responsibility—to set new standards for responsible business practices. This shift is not merely a trend but a necessary adaptation to a world facing significant environmental and social challenges.

The example of Quest Ventures, a venture capital firm that has integrated ESG principles into its operations, offers insights into how startups can effectively engage with these important issues and the importance of doing so.

The imperative of corporate purpose and social responsibility

At the heart of any successful startup is a well-defined and compelling corporate purpose. In today’s business landscape, startups must go beyond the pursuit of profit to define a purpose that encompasses social responsibility. This commitment to a broader mission can be a powerful catalyst for long-term success. While financial returns remain essential, startups that align their business models with societal goals often find themselves better positioned for sustainable growth.

For instance, Quest Ventures has placed a strong emphasis on initiatives that promote financial inclusion, gender equality, and access to healthcare and education. This focus on social impact extends beyond altruism—it reflects a broader understanding that businesses are part of the societies in which they operate. Startups that adopt a similar approach can reap significant benefits. First, they can attract socially conscious investors who value long-term impact over short-term gains.

Second, a strong commitment to social responsibility enhances brand reputation, making the startup more attractive to customers, employees, and partners. Finally, a well-defined social purpose can serve as a guiding principle, helping startups navigate challenges and capitalise on opportunities in a rapidly changing world.

Building a sustainable business model

Incorporating ESG principles into the business model from the outset can provide startups with a competitive advantage. Quest Ventures, for example, manages a diverse portfolio that includes companies operating in e-commerce, software/AI, and fintech. By integrating ESG considerations into their investment strategy, the firm has ensured that sustainability is a core aspect of the companies they support.

Also Read: Kuala Lumpur: The Silicon Valley of Malaysia

For startups, this implies that focusing on ESG can lead to better risk management and resilience. Through prioritising ESG from the outset, startups can build resilient business models that are better equipped to withstand market fluctuations and regulatory changes. In addition, startups that prioritise ESG are likely to attract investment from funds that value not just financial returns but also the broader impact of their investments. This can lead to a more stable and supportive investor base, which is crucial for long-term growth.

Responsible investment and long-term value creation

Startups can benefit from adopting responsible investment practices early on. Quest Ventures’ commitment to responsible investment, as demonstrated by their adherence to the United Nations-supported Principles for Responsible Investment (PRI), highlights the importance of considering ESG factors in decision-making processes. For startups, this approach can lead to more sustainable and long-term value creation.

Aside from avoiding harm, responsible investment is about actively seeking opportunities that contribute to positive societal and environmental outcomes. Startups that align with responsible investment principles are more likely to build businesses that are both profitable and resilient to future challenges.

Quest Ventures’ pragmatic approach to ESG—focusing on better risk-adjusted returns while integrating ESG factors into its operations—is a testament to how startups can achieve both financial success and positive impact. This approach can help startups build trust with investors, customers, and employees, which is essential for sustainable growth.

Environmental stewardship as a strategic priority

In an era where environmental concerns are increasingly at the forefront of public consciousness, startups must recognise the importance of environmental stewardship. Quest Ventures has developed robust criteria for evaluating the environmental impact of potential investments, ensuring that its portfolio companies align with its sustainability goals. This proactive approach to environmental stewardship is particularly relevant for startups, which often have the agility and innovation to pioneer new sustainable practices.

Adopting environmentally sustainable practices is a strategic advantage for startups. Companies that prioritise environmental sustainability are better positioned to meet evolving consumer demands, navigate regulatory changes, and mitigate risks associated with climate change.

Also Read: Investing without ESG data? Here’s why you’re missing the full picture

Quest Ventures’ ongoing engagement with its portfolio companies to encourage the adoption of sustainable practices highlights the importance of continuous improvement and adaptability in this area. Additionally, startups that prioritise environmental stewardship can contribute to the broader effort to combat climate change, which is increasingly becoming a factor in investment decisions.

Social responsibility as a cornerstone of success

Social responsibility is another critical component of a successful ESG strategy. This encompasses the commitment to uphold human rights, promote fair labor practices, and foster diversity, equity, and inclusion (DEI). Quest Ventures’ dedication to these areas reflects a broader trend in the business world where social responsibility is increasingly seen as essential to long-term success. These principles extend beyond ethical considerations—they are fundamental to building a strong, cohesive, and motivated team capable of propelling a startup forward.

For startups, this means that investing in social responsibility can lead to a more engaged and productive workforce, stronger relationships with customers, and a more supportive community. Startups that prioritise social responsibility also have an edge in attracting and retaining top talent, as employees increasingly seek out companies that align with their values. Furthermore, social responsibility can enhance a startup’s reputation, leading to stronger brand loyalty and customer trust. 

The role of strong governance in sustainable growth

Good governance is essential for startups, particularly as they grow and scale. Quest Ventures has established governance principles that promote accountability, transparency, and ethical behaviour across all levels of their organisation. Startups can learn from this approach by implementing strong governance practices early on, which can help them navigate the complexities of growth and scaling.

Apart from compliance, strong governance also entails creating a framework that supports sustainable business practices. Startups that prioritise governance are better equipped to build trust with investors, customers, and employees. Consequently, good governance can help startups avoid potential pitfalls and make more informed decisions, which is crucial for long-term success.

Journey forward: The role of startups in shaping the future

Startups have a pivotal role in shaping the future of business and society by integrating ESG principles into their operations. By embracing ESG, startups can achieve financial success while contributing meaningfully to a more sustainable and equitable future. As the business landscape continues to evolve, startups that prioritise ESG will be better prepared to navigate challenges, seize new opportunities, and create a lasting impact.

Quest Ventures’ commitment to driving positive change and fostering sustainable development serves as a beacon for startups aspiring to lead with purpose and responsibility. This approach sets the stage for the emergence of responsible and forward-thinking businesses that will define the future.

Read more about Quest Ventures’ ESG Progress in here.

Co-authored by Linh Ha (Senior Analyst), and Amanda Chan (Summer Analyst) and edited by Jazlynn Quek (Summer Analyst) at Quest Ventures.

—

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 us on Instagram, Facebook, X, and LinkedIn to stay connected.

Image credit: Canva Pro

The post From profit to purpose: How ESG shapes the future of startups appeared first on e27.

Singapore-based SleekFlow provides an omnichannel conversational AI suite. An all-in-one platform, it enables businesses to craft “seamless”, personalised customer journeys across popular messaging channels like WhatsApp, Instagram, live chat, and more.

Last month, SleekFlow raised US$7 million in a Series A+ round led by South Korean VC firm Atinum Investment to fuel global expansion and advancements in AI technology.

e27 spoke with SleekFlow’s founder and CEO, Henson Tsai, to learn more about its products and expansion plans

What specific factors attracted Atinum and other investors to SleekFlow? What is the synergy here?

Our core product, the omnichannel conversational AI suite, should be one major factor. Conversational AI is a high-ceiling market ready to scale internationally, and it is in demand across industries, whether for sales, support, or marketing.

Besides, among our counterparts, SleekFlow is one of the Series A startups present globally and has set up international offices across different countries, including Singapore, Hong Kong, Malaysia, Indonesia, the UAE and Brazil.

Atinum Investment invests in growth-stage startups in sectors like deeptech and healthcare. It has backed some famous startups in Asia, such as the ride-hailing giant Gojek and the travel platform Klook.

Also Read: Be adaptable and willing to challenge your previous beliefs: Henson Tsai of SleekFlow

Their Atinum Growth Investment Fund 2023, with US$624 million, aims to allocate 15-20 per cent of this fund to international investments, with approximately 70 per cent of that going to Southeast Asian startups.

As we have already expanded into Southeast Asia, we can see the synergy in our business strategy for global expansion.

With this new funding round, SleekFlow has raised a total of US$15 million. How will the additional funds be allocated between global expansion and AI tech innovation?

The new round of funding will accelerate SleekFlow’s global expansion plans, including further penetrating Southeast Asia (SEA) and the Middle East and tapping into European countries.

Funds will also be invested in AI tech innovation (including analytics and building marketing flows) and channel expansions (including calls and emails) to better serve our growing customer base worldwide.

Could you elaborate on your strategy for entering new markets like Southeast Asia, the Middle East, and Europe? Which regions are you prioritising? Are there any specific partnerships or collaborations in these new markets that you’re exploring to facilitate your expansion?

Taking the Middle East as an example, we started tapping into the market solely through digital marketing channels, as we had inbound leads from the very beginning.

Then, we started investigating the market and trying to verify it, and we assigned a market launcher from Hong Kong to fly to Dubai to start building good use cases with customers on the ground.

We saw good tractions from local big retailers and successfully built the very first good use case with the reputable L’Occitane brand under the Chalhoub Group, subsequently kicking off SleekFlow’s market expansion into the Middle East.

How important is localisation in your global strategy, and how do you approach it?

Localisation is crucial in our global strategy for many reasons. One vital strategy in our localisation approach is by tailoring our products and services.

Different regions have unique preferences and needs. Therefore, we need to resonate our products with local markets as well as build trust and engagement with customers. Our approach to localisation includes:

• Adapting to the local languages of the markets.
• Having customised offerings (from sales services and products to customer support) tailored to each market.
• Setting local team support for customers and collaborating with local businesses and influencers to enhance credibility and reach.

Another vital step in localisation that we are undertaking is being locally relevant for better market penetration.

For example, in the UAE market, we focus on understanding ways to cater to retail, as there’s a huge demand for enhancing a smooth retail-to-online shopping experience. In Indonesia, social commerce is booming, so we work with more e-commerce businesses there. By prioritising localisation, we aim to foster deeper connections with customers worldwide.

You mentioned planning a Series B Fundraising in the next 12 months. What milestones do you aim to achieve before this next round of funding?

Some important business metrics include achieving ~ a 100 per cent revenue increase and increased ARPU (average revenue per user) by building more advanced features.

SleekFlow plans to offer fully automated sales and support journeys in voice, calls, and emails. How will these innovations improve customer engagement across different industries?

SleekFlow’s fully automated sales and support journeys in voice, calls, and emails improve customer engagement across different industries. Businesses can further improve customer engagement through:

24×7 availability: AI Automation allows companies to engage with customers at any time, which is particularly beneficial for industries like e-commerce, healthcare, and travel, where customers may need support outside regular business hours. This leads to higher customer satisfaction and a more personalised experience.

Improved efficiency and scalability: By automating repetitive tasks such as answering FAQs, booking appointments, or processing orders, businesses can handle a higher volume of interactions without compromising on quality. This is crucial for industries that experience high demand, like retail or tech support.

The conversational AI market is projected to grow significantly in the coming years. How does SleekFlow differentiate itself from competitors in this rapidly expanding market?

Our conversational AI solution is built for companies of all sizes to leverage AI on a daily basis. On average, SleekFlow users use the platform around four hours per day, reflecting its vitality as part of the business.

Also, compared to our competitors, we have a stronger international presence and support wider markets. Our product is ready for a wider use case globally with localised integrations.

With the conversational AI market expected to reach US$49.9 billion by 2030, how do you see the customer engagement landscape evolving?

Taking the US as an example, in the past, shopping mostly happened on a platform. This has evolved with more shopping actions (booking, making an appointment, purchase) facilitated through conversations, no matter which messaging channels are used. This is how the customer engagement landscape will evolve.

Also Read: Navigating the AI landscape in 2024: Why there is an urgency for enhanced governance

As AI technology becomes more sophisticated, businesses will increasingly leverage AI-driven tools to create personalised, responsive, and seamless customer experiences across multiple touchpoints. We are expecting some key developments in the customer engagement landscape, which include;

Omnichannel engagement: With the rise of conversational AI, customer engagement will become more integrated across various platforms—social media, chatbots, voice assistants, and even in-store interactions. Customers will enjoy a consistent experience regardless of how they choose to interact with a brand.

In 2022, SleekFlow’s platform enabled 32 million WhatsApp messages for over 5,000 customers across seven countries, boosting sales converted with chat by 3x. This only proves that businesses are increasingly embracing the growth of omnichannel engagement due to the overall transaction experience and the ROI of the business.

Human-AI operations/synergy: While AI will handle routine queries and tasks, human agents will focus on more complex and emotionally charged interactions. This mode of operation/synergy will elevate the quality of customer service.

AI requires training. To continuously improve AI, it requires a lot of data and integrations. SleekFlow’s software is an omnichannel suite with high integration flexibility via the Flow Builder feature, which fosters AI training.

In the future, SleekFlow will continue to serve as the backbone for all merchants’ conversational workflows, enabling an end-to-end purchasing cycle—from booking appointments to purchasing.

What are the key challenges you anticipate as SleekFlow expands globally and continues to innovate?

As SleekFlow expands globally, we’re anticipating some key challenges that include;

Resources/logistics management: Scaling operations globally demands efficient resource allocation in vital areas such as workforce management, logistics, and tech infrastructure.

Talent acquisition: Finding and retaining skilled talents in new markets can be competitive and challenging.

—

Image Credit: SleekFlow.

The post Navigating global markets: Inside SleekFlow’s strategy for scaling conversational AI appeared first on e27.

Malaysia’s connected roadside assistance solution provider, Bateriku, has raised US$7.4 million (RM34.7 million) in its Series B funding round from KWAP, Gobi Partners, SBI Capital, and VentureTECH.

The Selangor-based firm will use the money to expand across Malaysia as well as Southeast Asia, with Indonesia and Singapore in the first phase.

“This investment will fuel our mission to transform roadside assistance and reshape the automotive ecosystem,” said CEO Azarol Faizi.

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

Established in March 2014, Bateriku.com began as an on-demand car battery replacement service. The startup has now evolved into an ecosystem that connects car users with roadside assistance, trusted workshops, an auto parts marketplace, and ancillary services.

Bateriku.com’s extensive network includes nearly 200 Pitstop outlets across Malaysia and its first international outpost in South Jakarta, Indonesia. Its ecosystem comprises over 1,000 trained gig technicians (BHero), 78 entrepreneurs (BPreneur), and close to 3,000 workshop and auto part partners (BBuddy), all coordinated through a 24x7x365 contact centre that connects customers to the nearest service providers.

The firm employs 382 people and has built its ecosystem by training nearly 1,000 gig mobile technicians (BHeroes), developing 78 entrepreneurs (BPreneurs), and onboarding approximately 2,000 car workshops (BBuddies).

Bateriku provides centralised training to internal and external parties through Akademi Bateriku – a training institution endorsed by the Department of Skills Malaysia (JPK) and the National Dual Training System (SLDN) under the Ministry of Human Resources of Malaysia.

In 2022, the company launched Akademi Bateriku to provide reskilling and up-skilling programmes for automotive professionals within its ecosystem. To date, nearly 2,000  Malaysians have benefitted from this.

While the battery business remains at the heart of Bateriku.com’s operations, environmental sustainability is a core priority, says the company. Its’ Go Recon Save The World’ initiative focuses on reconditioning and recycling batteries, ensuring they are reused, repaired, or responsibly recycled. This initiative supports Bateriku.com’s nationwide warranty and after-sales programmes, with non-reconditionable batteries processed by licensed smelters approved by the Department of Environment (DOE).

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

“To give some perspective, approximately 500,000 car batteries are being replaced every month in Malaysia, which indicates roughly 10,000 tonnes of used batteries are being disposed of each month. Bateriku.com collects slightly less than 1,000 used car batteries every month from our customers across the nation. It’s our responsibility and in our best interest that our customers are educated on the impact of properly used battery disposal on the environment, particularly through our ‘Go Recon Save The World’ initiative,” Faizi added.

The post Bateriku lands US$7.4M investment to provide connected roadside assistance in Malaysia appeared first on e27.

Southeast Asian angel investor club AngelCentral today announced its third annual Angel Investor Behavioural Survey Report for 2024, revealing that 80.6 per cent of surveyed angel investors in the region express optimism about the startup ecosystem over the next five to 10 years.

The report also stated that twice as many angels reported gains on their overall portfolios compared to those who have experienced losses.

Additionally, over 36 per cent of angel investors are new to the scene and have opportunistically started their activities in the last two years, demonstrating a continued influx of interest even amid a challenging funding environment.

The report revealed that many angel investors have adapted to the market’s volatility and valuation shifts by implementing various risk mitigation strategies.

Seventy-four per cent reported overall portfolio diversification beyond startups, with most investing less than 10 per cent of their assets in this space. Furthermore, 61.1 per cent are leveraging syndicates to enhance peer learning and validate investment opportunities, while 26.4 per cent have reduced their ticket sizes for each angel investment.

Also Read: Investing in a better future: Why sustainable investment matters

“I am pleasantly surprised and happy with the maturity of our angel investors. Rather than making knee-jerk reactions
to the market’s gyrations, ASEAN angels have remained focused on the long-term growth story of the startup space and are also actively mitigating their risks,” shared Huang Shao-Ning, Chief Angel at AngelCentral.

“We see similar trends within our club, where most of our member angels now prefer to invest with smaller ticket sizes and via syndicates. Although our total club funding this year remains the same as in 2023, we are witnessing a record influx of new angels joining our club in the past six months.”

The report stated that when evaluating startups for investment, angel investors prioritise potential business opportunities and the strength of the founding team. They also consider founders’ ethical beliefs a common deciding factor.

Interestingly, 30.6 per cent of respondents are new to angel investing with less than two years of experience. The profile of the angel investors remains unchanged, with more than 80 per cent being men in their 40s to 50s who work in a corporate role or who are business owners.

This year’s survey gathers insights from over 70 Southeast Asian angel investors regarding their angel investments. The survey aims to understand the evolving perspectives and strategies of angel investors and provide valuable insights into their investment approach, evaluation processes, returns, and overall mindset.

Also Read: Cyber risk management startup Protos Labs lands US$2.3M investment

The survey defines angel investors as individuals who invest personal money, time, and networks into early-stage companies that are typically in the initial 12-36 months of their operations.

The investment can be made directly (the angel becomes a direct shareholder of the investee company) or indirectly (the investment is syndicated via a special purpose vehicle or informally via another person’s name).

—

Image Credit: rawpixel, 123RF Free Images

The post Survey: 80+% angel investors in SEA remain optimistic with the future of startup ecosystem appeared first on e27.

How do you convince lawyers to embrace digital transformation by using AI in their practices? Lawdify may have the answer.

The company offers AI-driven SaaS solutions tailored specifically for legal professionals. It creates AI agents designed to manage specialised, labour-intensive, and high-stakes tasks in the legal field.

These AI tools intend to significantly reduce the manual effort required for tasks such as document tracking, review, and analysis, thereby addressing a critical pain point that has long plagued the legal profession.

Lawdify CEO and Founder Eliza Jiang, who has over a decade of experience in private legal practice, identifies the inefficiencies in traditional legal workflows. Before entering law, she worked in accounting, where tools like spreadsheets were essential for distilling large volumes of data into actionable insights. However, upon transitioning to law, she found no comparable tools to assist in analysing and synthesising textual data.

This realisation drove her to create a solution that could automate the tedious and time-consuming process of organising case documents into actionable summaries.

Also Read: 7 common legal pitfalls startup founders should avoid

“When we started designing, I knew I wanted the tool to be one I wished I had throughout my 10 years of practice. We are confident that the tool will become indispensable to lawyers worldwide,” she explains.

“With this in mind, I leveraged my expertise in legal workflows (i.e. the way lawyers review documents, summarise data, put together their legal claims, and draft their pleadings) to create a product that can be easily entrenched in these workflows. We then outlined the user journey to distil, analyse, and summarise data from documents in various tables. Involving the engineering team at every step of the process, we wireframed the different front-end and back-end requirements to align with this user journey to deliver the results the users need.”

Lawdify is making significant strides in the legal tech industry, focusing on high-profile and reputable dispute teams across major legal hubs such as Singapore, Hong Kong, London, and Toronto.

The company’s AI-driven tool is jurisdiction-agnostic, making it versatile and applicable across legal systems.

Initially targeting boutique law firms with a dispute practice, Lawdify plans to expand its reach to corporate practice groups in Q4 2024 following the commercial launch of its product.

Tackling barriers to entry

During a panel session at the UNCITRAL Academy Conference 2024, Jiang addresses the concerns surrounding the integration of AI in the legal industry.

Also Read: Why offshoring your data parsing processes could be your legal tech startup’s secret weapon

Built on enterprise-grade versions of large language models, Lawdify’s applications prioritise data security by storing information in isolated instances on major enterprise cloud services such as Google Cloud Platform, Microsoft Azure, and Amazon Cloud Services. This approach guarantees that client data remains secure while providing powerful AI tools tailored for legal professionals.

When asked about the possible barriers of entry for lawyers to use its product, Jiang reveals that apart from trust and data privacy, there are other issues, such as tech products not considering lawyers’ input in their development process and lawyers’ hesitancy to adopt new technology that is deemed too complex.

“That is why when we design our platform, we ensure that Lawdify is built with an intuitive user interface to easily set up summary tables in which content can be generated in seconds. This function is not entirely new, as summarising data in tables is something that lawyers already do with Word and Excel. Lawdify simplifies this process,” Jiang says.

Lawdify operates on a SaaS subscription model, offering its AI-powered tools with a generation limit tailored to the needs of legal professionals.

The company has successfully raised external funding to support its growth and development.

In 2024, its primary focus is on the commercial launch of its product worldwide, scheduled for Q4, marking a significant milestone in its expansion strategy.

—

Image Credit: Lawdify

The post Lawdify revolutionises legal workflows with AI-driven tools to alleviate lawyer workload appeared first on e27.

Not too long ago, chatbots were like overenthusiastic customer service agents with a one-track mind: they followed a fixed set of rules and didn’t handle small talk very well. Ask them anything outside their rigid script, and you’d be met with confusion — or worse, repeated display of the menu options. Fast forward to today, and chatbots have gone through a renaissance, evolving into highly sophisticated AI agents powered by large language models (LLMs).

These chatbots are no longer just answering questions; they’re holding conversations, understanding context, and delivering responses that feel more human than machine. It’s not just about resolving customer queries anymore — it’s about shaping the future of customer experience, one intelligent conversation at a time.

From rule-followers to game-changers

Remember when chatbots would only respond based on a predefined script? These rule-based bots were the pioneers of automated customer service, helping businesses answer basic inquiries at scale. While they were a significant step forward, they had one major flaw — they were only as smart as their programming. Step out of line with your questions, and you’ll be quickly reminded that you are talking to a robot.

But now, chatbots have had their “glow-up.” Thanks to advancements in AI, particularly in large language models like GPT-4, chatbots are moving beyond simple “if this, then that” frameworks. Today’s AI agents are conversational dynamos, learning and adapting as they go. They understand context, emotion, and even intent. It’s as if chatbots have been to charm school — except their training comes from massive datasets and cutting-edge algorithms.

For example, consider LLM-powered models like ChatGPT or Google’s Bard. These models can handle anything from running research to provide complex technical support, all while maintaining a conversational tone that feels natural. The shift from rule-based systems to AI-powered agents has enabled businesses to provide a level of personalisation that was once thought impossible. It’s a whole new chapter in customer engagement, where chatbots can empathise, problem-solve, and even crack a joke or two.

Also Read: The art of AI integration: Growing your business with chatbots and human expertise

Let’s talk numbers

The rise of AI chatbots isn’t just a passing trend; it’s revolutionising industries across the board. According to a report by Juniper Research, the global operational cost savings from using chatbots has reached $11 billion in 2023. That’s not just a drop in the bucket — that’s a tidal wave of savings, driven by these sophisticated AI models.

But the impact of AI chatbots goes far beyond the bottom line. Studies show that companies using chatbots see a 30 per cent increase in customer satisfaction rates. With their ability to provide quick, personalised responses, chatbots keep customers engaged and happy, improving retention rates significantly. After all, a customer who feels heard is a customer who comes back.

Real conversations, real impact

What’s behind this evolution? Large language models like GPT-4 and its counterparts have fundamentally changed the chatbot game. These models are trained on vast amounts of text, and data, enabling them to predict and generate human-like responses. This predictive ability allows chatbots to understand not just what a user is asking but why they’re asking it. Suddenly, conversations that felt stilted and robotic now flow naturally, like chatting with a knowledgeable and friendly agent.

Take, for instance, a chatbot for an online clothing retailer. A rule-based bot might only be able to answer whether an item is in stock. An LLM-powered AI agent, on the other hand, can engage in a more complex conversation: suggesting outfit pairings, taking note of personal preferences, and even offering advice based past shopping data. It’s like having a personal shopper in your pocket — and it’s all powered by AI.

These intelligent agents are also transforming customer service in industries like banking, healthcare, and travel. Instead of waiting on hold for hours, customers can interact with AI agents that provide real-time assistance, personalised advice, and fast resolutions. Imagine resolving a flight delay, asking for a refund, and even rebooking — all without ever speaking to a human agent. The AI takes care of it, efficiently and without the wait times that have long plagued customer service lines.

The future of conversational AI

If the past few years have shown us anything, it’s that AI chatbots are no longer just tools — they’re partners in customer engagement. But what’s next?

Also Read: Navigating the AI landscape in 2024: Why there is an urgency for enhanced governance

We’re moving toward a world where AI agents won’t just respond to queries but anticipate them. Imagine a chatbot that knows your preferences before you even ask, offering suggestions that feel like they were pulled from your own thoughts. With advancements in machine learning, AI agents will soon be able to predict customer needs with astonishing accuracy. In fact, Gartner predicts that by 2025, 80 per cent of customer interactions will be handled by AI.

As businesses continue to adopt AI, the chatbots of tomorrow will be indistinguishable from human agents in terms of their conversational ability. But don’t worry — AI agents won’t be replacing humans entirely. Instead, they’ll work alongside them, handling routine tasks while freeing up human agents to tackle more complex issues. It’s the ultimate tag team: AI and humans working together to deliver the best possible customer experience.

Wrapping it all up

AI-powered chatbots have come a long way from their rule-based ancestors. They’ve evolved from robotic responders into conversational partners, revolutionising customer engagement across industries. The power of LLMs has made these bots smarter, more human-like, and capable of driving real business impact. So, whether you’re looking to boost customer satisfaction, save costs, or stay ahead of the competition, investing in AI chatbots is no longer a question of “if,” but “when.”

—

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 us on Instagram, Facebook, X, and LinkedIn to stay connected.

Image credit: Canva Pro

The post The transformation of chatbots: From rule-based robots to conversational companions appeared first on e27.

Dear reader,

Flash Coffee, a tech-enabled coffee chain, has appointed former Foodpanda CEO Jakob Angele as its executive chairman to steer the company towards profitability.

After a period of rapid expansion across Asia Pacific, the company has scaled back significantly, liquidating its operations in Singapore, Thailand, Hong Kong, Taiwan, and South Korea, leaving it with just 67 stores in Indonesia.

Despite this contraction, Angele is optimistic, noting that most of the remaining outlets are EBITDA-positive. The company has focused on fine-tuning its cost structure and revamping its menu, with 63% of drinks being new offerings tailored to Indonesian tastes.

This strategic shift, coupled with enhanced seating options, has improved offline business performance. Angele, who shares a professional history with Flash Coffee’s founder, believes the brand is well-positioned in Indonesia’s competitive market, offering quality at a medium to high price point.

The company plans to open five to ten new stores in Indonesia this year, with no immediate plans for international expansion. Confident in the potential of the Indonesian market, Angele envisions Flash Coffee expanding to 300-400 outlets domestically while maintaining profitability.

Sainul,
Editor.

—–

NEWS & VIEWS

Flash Coffee taps ex-Foodpanda CEO in turnaround bid
The tech-enabled coffee chain has hired Jakob Angele as its executive chairman in a bid to hit profitability; Flash Coffee liquidated its operations in Singapore last October, while it sold its Thai business the following month.

Google is working on AI that can hear signs of sickness
According to Bloomberg, Google has trained one of its foundation AI models with 300 million pieces of audio that included coughs, sniffles and laboured breathing to identify, for example, someone battling tuberculosis.

Validus secures up to US$50M from HSBC to support Indonesian MSMEs
The capital will be deployed through Validus’s Indonesian subsidiary, Batumbu, to support local MSMEs and address the country’s financing gap; There’re currently 64.2M MSMEs that contribute 61 per cent of the country’s GDP.

Malaysia’s Kenanga Group acquires 8% stake in Singaporean fintech firm Helicap
The partnership aims to further advance the group’s digitalisation initiatives;
Helicap is a platform that specialises in the alternative lending space in Southeast Asia.

Customers of WazirX unlikely to recover full funds
The Indian cryptocurrency exchange WazirX suffered a US$234M hack in July; George Gwee, a director at restructuring firm Kroll working with WazirX, said that at least 43% of the money any customer had in WazirX is unlikely to be recovered.

OKX Singapore gets payment nod from MAS, taps ex-Grab exec as CEO
The license allows OKX Singapore to offer digital payment token services and cross-border money transfers, including spot trading of cryptocurrencies for customers in Singapore.

Uber drives deeper into South Korea to take on Kakao Mobility
Currently, Korea’s ride-hailing industry is dominated by Kakao Taxi, Kakao Mobility’s consumer service, with more than 23 million registered users and a 98% market share.

Singapore’s GIC acquires logistics facility in Yokohama, Japan
The asset is well-located within the Kanagawa Prefecture and enjoys convenient access to the entire Greater Tokyo region; The facility was developed by Daiwa House Industry, a Japanese real estate developer.

Protégé Ventures invests in rocket propulsion, space launch startup ESS
ESS’s HRF-1 technology can eliminate up to 90% of costs and 69% of GHG emissions compared to traditional liquid propulsion systems.

FEATURES & INTERVIEWS

Empowering change: Singapore’s female-led startup success stories
These Singaporean startups, led by visionary women, are proving that female founders are making waves in the tech industry.

Echelon X: Exploring the realities of market access in the Middle East
The Echelon X fireside chat clarified the realities and offered practical insights for companies eyeing the Middle Eastern market.

Echelon X: Pinhome’s strategies for sustainable growth and financial stability
The Echelon X fireside chat showcased how Pinhome navigated Indonesia’s property tech market to achieve sustainable growth and positive unit economics.

Mastering the funding maze: Unlocking financing pathways for founders in the Philippines
Investing in startups in the Philippines has become increasingly attractive due to its rapidly growing economy and youthful population.

THOUGHT LEADERSHIP

Thailand’s tech renaissance: Building bridges to global success
The numbers are in—emerging markets like Thailand need a new strategy for their struggling tech ecosystems to foster global innovation and growth.

Understanding priced and unpriced funding rounds: A startup lawyer’s guide for startups
Learn the key differences between priced and unpriced funding rounds and how they impact your startup’s valuation, equity dilution, and fundraising.

Revolutionising sourcing and procurement with AI: Sourcefy’s vision
Transforming B2B sourcing with AI-driven precision: Sourcefy redefines the supplier discovery and management process.

Why Australia is the hidden gem for global investors
Australia, traditionally known for its strengths in finance, mining, energy, and agriculture, also excels in the technology sector.

FROM THE ARCHIVES

Want to build a sustainable startup? Solve a problem for your customers
Resourceful startups have demonstrably proved that there are few problems that can withstand human motivation to overcome pain.

Globalise strategy, localise conversations: The key to nailing native advertising in new markets
By knowing what can make an impact now and what to prepare for moving forward, a balance can be made in native advertising.

4 perks of continuous data protection for businesses
When investing in consumer data protection, keep in mind that there is no unique strategy that works for any business.

How to fight a costly turnover in an effective way
Posting jobs, interviewing, preparing offers, and onboarding new job candidates are all very costly procedures. Replacing an employee costs an average of ⅙ of their yearly pay, which adds up quickly the higher up the food chain you go.

Is voice the next revolution in fintech?
Owing to the current state of mobile penetration, voice will increasingly be shifting towards higher-value work, including in fintech.

10 unarguable things that great leaders do
Articles have been written by others naming the traits they would like to see in leaders, but you may notice something in common here.

How to keep your remote employees’ networks more secure
As remote working becomes more commonplace, here are some steps you can take to ensure your IT security is not compromised.

5 early lessons I learned building my startup
To grow, do not surround yourself with yes men. Always be ready to have your startup ideas challenged to grow them.

A better way to work: independent doers lead the way
No matter how you’re employed, embracing change is the best way to stay relevant; and independent doers are leading the way, let’s keep up.

5 analytical tools that entrepreneurs can use to scale
A handy list of five analytical tools that can be used to obtain a holistic view of your business, compiled for your convenience.

Why you should start a business in your 40s
In your many years of work experience, you will have figured out your strengths, and be able to use it to your advantage.

Things to consider during the startup fundraising process
By looking at financial projections, the company would have an idea if it can fund plans via cash or should opt for fundraising.

Why fasting is the ultimate productivity hack for entrepreneurs
Who would have thought the secret to working more efficiently lies in a thousand-year-old practice?

These 5 toxic factors cause employees to quit even before they have another job
Founders and managers must know how to retain employees and maintain a good work culture in their businesses.

Here are 8 ways you can utilise expressive blogging for your startup
Blogging is the most effective way of promoting your business without being too up-front about your product or service.

The post Ecosystem Roundup: Flash Coffee looking for a turnaround | Google working on AI that can hear signs of sickness appeared first on e27.

Lokatani, an agritech startup focused on developing hydroponic vegetables, has announced a pre-seed funding round with AsiaPay Capital and Jakarta Ventura (Jakvent).

“This funding will be used for various aspects, from increasing production capacity, developing internet-based agricultural technology, expanding distribution networks, marketing and promotion, to human resource development. This support also allows Lokatani to continue aligning plant production in real-time with customer demand using IoT through an integrated application,” said CEO Abdul Choliq.

Also Read: The age of the super farmer: How technology is enabling the average farmer

Founded in 2019, Lokatani utilises IoT technology, an inventory management system, and hydroponic methods to produce premium vegetables.

Through its on-demand order approach, Lokatani adjusts the production process to customer demand, thus increasing farmers’ production efficiency. The “scheduled planting” system implemented by Lokatani is the key to maintaining supply stability in terms of quality and quantity, supported by IoT technology for automated vegetable maintenance.

The startup’s offerings are:

• Loka Fresh specialises in selling high-quality hydroponic vegetables under the “Sayuran Pagi” brand, making fresh vegetables available on demand.
• Loka Grow emphasises research and development to empower farming communities through a co-farming scheme.
• Loka Tech is an integrated application with IoT that facilitates automated monitoring and agricultural processes, as well as more efficient and effective inventory management.
• Hydro Estate offers services for constructing and maintaining hydroponic farms, including greenhouse operations.

“The value chain built by Lokatani is an ecosystem that greatly helps address the fragmented value chain in agriculture systems, particularly in hydroponics. As a strategic investor, we hope to leverage our expertise in payment infrastructure to drive financial inclusion and positively impact hydroponic farmers,” said Rizki Maarif, Venture Investor Team & Research Lead at AsiaPay Capital.

“Lokatani not only serves as an aggregator in this ecosystem but also plays a crucial role in guiding and supporting the farming community. We hope that the farming community, especially hydroponic vegetable farmers, will continue to grow and progress alongside Lokatani,” stated Jakvent CEO Chrisantina Lunaryati.

Also Read: How AI and automation can shape the future of farms

Asiapay Capital is an investment arm of Asiapay Group, a Hong Kong-based digital payment services company.

Jakarta Ventura is a regional VC company under the auspices of Bahana Artha Ventura (BAV), a subsidiary of the state-owned enterprise of investment and insurance holding company PT Bahana Pembinaan Usaha Indonesia (Persero), also known as IFG.

—

Image Credit: Lokatani.

The post Lokatani secures funding to empower hydroponic farmers in Indonesia appeared first on e27.

BillEase, a digital consumer finance platform in the Philippines, has secured an undisclosed strategic investment in a Series C round led by TPG’s The Rise Fund.

Existing investor Burda Principal Investment also participated.

This investment will help BillEase support its growth.

“The Rise Fund has built a global track record of helping socially impactful companies scale, and their investment will empower us to not only sustain our strong growth but also expand our product offerings to serve the underserved and underbanked better, enabling more Filipinos to improve their living standards,” Georg Steiger, CEO of BillEase, said.

Also Read: BillEase nets US$5M more to grow loan portfolio, launch credit products

BillEase leverages machine learning and AI to build financial products while mixing traditional global credit underwriting best practices to meet customers’ needs. It offers personal loans, e-wallet top-ups, prepaid load, gaming credits, bill payment, a buy-now-pay-later (BNPL) service and deals from over 10,000 merchants and over 600,000 QRPh-accepting merchants.

“In the Philippines, there remains a need among businesses and individuals for greater access to affordable financial products. Only 18.8 per cent of people in the Philippines can reportedly borrow money from a formal financial institution or money provider,” said Lito Camacho, Senior Advisor for TPG. “BillEase is offering a solution that solves that pain point for many, giving access to flexible payment options in a safe and sustainable way.”

In April, BillEase received US$5 million in credit facility from Saison Investment Management, the offshore lending arm of Japan’s Saison International.

In 2022, BillEase completed an up to US$20 million debt facility from Singapore-based fintech firm Helicap Securities.

The post TPG’s unit leads Series C round of Filipino consumer finance app BillEase appeared first on e27.

TailorTech, a Malaysian startup focused on transforming power management for off-grid locations, has raised US$110,000 from Antler.

Founded by brothers Ts. Dr. Indera Shaiful and Ts. Indera Shafiq, TailorTech aims to tackle problems faced by industries that are reliant on generator sets in remote and off-grid locations, including inefficiencies, high costs, frequent maintenance, and the environmental impact associated with conventional generator sets.

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

TailorTech has developed the Power Enhancer System (PES), an integrated smart power management solution designed to optimise the use of generator sets. Engineered to reduce operational costs and carbon footprints, it provides a solution for industries where reliable, efficient, and sustainable power is critical and costly.

The PES shows potential for a wide range of off-grid generator-set users, including telecom tower operators, plantation estates, mining, construction sites, and rural villages and clinics. In regions such as Malaysia and Indonesia, these sectors frequently need suboptimal power solutions that lead to increased costs and environmental concerns.

While renewable energy sources are often considered viable alternatives, their economic feasibility in diverse and challenging locations remains limited. TailorTech’s PES addresses this gap by enhancing existing generator infrastructure with smart, efficient technology that reduces both costs and emissions.

TailorTech plans to deploy its first on-site installation as a proof of concept for a targeted client. This deployment will be a critical demonstration of the PES’s effectiveness and scalability, potentially paving the way for further investment opportunities and market expansion.

Also Read: ByteGami gets Antler’s backing for its plug-and-play gamification platform

The introduction of TailorTech’s PES is timely, aligning with global efforts toward net-zero carbon emissions and sustainable energy solutions. Although the PES does not entirely eliminate carbon emissions, it offers a substantial reduction, making it a practical and immediate solution in the shift towards greener energy practices.

—

Image Credit: TailorTech.

The post TailorTech bags funding for its off-grid power management solution appeared first on e27.