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Cutting carbon at the socket: measurable.energy’s smart solution to plug power waste

In 2018, Dan Williams, a PhD from the University of Reading, and Josh Eadie, a robotics and machine learning expert, recognised a ubiquitous but overlooked problem: energy waste from electronic devices left plugged in or on standby.

The duo saw substantial environmental and financial costs of this unnecessary power draw, particularly in commercial settings.

Driven to make a difference, they harnessed their expertise and developed an innovative solution: an AI-powered smart socket to reduce energy consumption at the source.

Also Read: measurable.energy’s AI smart sockets set for SEA expansion with Vertex’s backing

In early 2018, Eadie built the first prototype, embedding intelligent controls directly into plug sockets. By early 2019, they had produced the initial batch of prototypes, followed by pilot installations in April 2020.

That was the beginning of measurable.energy, their UK-headquartered company, which is now helping businesses reduce energy waste and cut costs.

“While typically overlooked in favour of larger systems such as HVAC, plug power makes up nearly 40 per cent of a commercial building’s total energy use,” says Williams, co-founder and CEO of measurable.energy. “Our smart sockets work autonomously to detect and eliminate this power drain, allowing businesses to cut electricity bills and reduce carbon emissions by up to 50 per cent.”

AI-driven insights for better energy management

The AI-driven technology within measurable.energy’s smart sockets plays a key role in identifying and adapting to usage patterns. The system learns from each device’s behaviour, detecting when devices are likely in use or idle and automatically switching them on or off accordingly.

Users can access real-time data via a dedicated dashboard, enabling them to monitor, manage, and optimise energy consumption at a granular level. This detailed feedback helps businesses improve carbon tracking accuracy and ensure compliance with energy regulations.

“Since the product launch in 2023, we have helped reduce nearly 200 tonnes of CO₂ equivalent in commercial deployments,” claims Williams. “In commercial buildings, which account for 28 per cent of global carbon emissions, measurable.energy targets plug power waste, thereby supporting companies in achieving their net-zero ambitions.”

Currently, measurable.energy’s smart sockets are available for businesses through a pricing model that combines a one-time hardware fee with a software license for AI-driven functionality.

Measurable Energy offers smart sockets for businesses. Their pricing model consists of a one-time hardware fee and a software license fee for AI-driven functionality.

While expansion into the residential sector is planned for the future, the company remains focused on B2B clients for now.

With widespread adoption, the startup envisions cumulative positive impacts across both commercial and residential sectors, advancing sustainable energy practices on a large scale.

measurable.energy recently raised £4 million (US$5.2 million) in a Series A+ funding round co-led by Vertex Exploratory Fund, a fund under Vertex Holdings (a wholly-owned subsidiary of Temasek), and UK-based cleantech VC firm Clean Growth Fund. This capital injection will support R&D efforts, allowing the company to expand manufacturing capabilities and add new features to its smart sockets, with a particular focus on expansion in Southeast Asia, North America, and Europe.

Expansion in Southeast Asia

The measurable.energy founding team

“One of the most promising aspects of our expansion strategy lies in Southeast Asia,” Williams adds. “We see considerable potential in markets like Singapore, Australia, and New Zealand, where the UK-standard socket is widely used. This compatibility, coupled with the region’s push toward energy efficiency and reduced carbon emissions, has created a favorable environment for measurable.energy’s technology.”

Also Read: 5 reasons why energy management is key to individual and organisational success

The venture plans to partner with local businesses and experts in Southeast Asia to streamline entry, leveraging their insights to ensure smooth adoption and local relevance.

Looking ahead, measurable.energy plans to launch a version of its smart socket compatible with US outlets, making strides toward the North American market.

Additionally, the startup is developing a desk extension module to provide users with more flexibility and connectivity, allowing the technology to integrate even further into daily operations.

The team is gearing up for a Series B funding round in 2025, setting ambitious milestones to enter new international markets, boost unit sales, and scale its R&D workforce.

As measurable.energy continues to expand and innovate, its impact on reducing energy waste and promoting sustainable practices could shape the future of energy management on a global scale.

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81RAVENS scores US$4.5M seed funding to launch Solana-based arena shooter PARAVOX

The 81RAVENS team

81RAVENS, the Singaporean company behind the free-to-play 3v3 arena shooter PARAVOX, has raised US$4.5 million in seed funding led by Japanese investors DIGITAL HEARTS HOLDINGS and GREE Ventures.

The funding will support the development and marketing of PARAVOX, which will launch on the Solana blockchain.

Also Read: From niche hobby to billion-dollar industry: The meteoric rise of esports

81RAVENS was founded in 2020 by a team of experienced game developers, publishers, and league organisers in Japan and Southeast Asia. Its inaugural title, PARAVOX, features a unique blend of movement, skill mastery, and tactical precision.

PARAVOX is currently in Global Open Alpha and claims to have clocked over 100,000 downloads on the Epic Games Store following its Private Alpha launch in Japan and Southeast Asia.

81RAVENS has chosen to deploy on the Solana blockchain. With its fast, scalable infrastructure and extremely low transaction costs, Solana enables real-time gameplay and smooth on-chain integrations, perfect for enhancing the player experience.

This year, PARAVOX hosted the PARAVOX Global Rapid Tournament (PGRT), its first major esports event, which featured a prize pool of 100 million yen and attracted over half a million viewers, with 23 esports teams participating.

81RAVENS claims that world-class professional teams from Japan, Southeast Asia, Europe, and Latin America, such as LOUD, ZETA DIVISON, and Blacklist International have already partnered with PARAVOX.

Also Read: For gamers by gamers: How Razer incorporates its understanding of user behaviour into product development

PCI, the second major esports tournament, is planned to take place in December, with top-tier teams like LOUD among the participants.

The game is currently being enhanced and improved in preparation for its Steam release, scheduled for the end of 2024.

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Cross-chain interoperability: The key to unlocking crypto’s true potential

Cross-border payments have always been tricky territory. Traditional banking methods come with a higher cost, lengthy delays and security concerns. It can hinder growth for businesses with global suppliers and customers. This will only become more apparent in the coming years as globalisation continues to speed up.    

Crypto, for all its achievements and what it hopes to be, has created a new type of “border” related issue. Indeed, value is now locked within networks — call it cross-chain borders. The lack of a unified on-chain experience is preventing the adoption of crypto payments. Unified doesn’t equal centralised – an important distinction to make. 

The current crypto landscape is fragmented, with a steep learning curve for the everyday user. The many independent blockchains, and the need for token-specific payments, creates added complexities to on-chain  transactions. 

Achieving cross-chain interoperability doesn’t just elevate the global crypto industry – there are localised benefits for regions who embrace it. 

Asia-Pacific has the highest value of cross-border payments. In 2023, cross-border payments in Asia increased by over 30 per cent. It’s such a hot issue that four central banks in Southeast Asia have teamed up to build an instant cross-border retail payments platform

But big banks banding together isn’t the answer. Interoperable blockchains are. Blockchain technology will have its mainstream moment when different chains communicate seamlessly, so users can pay anyone, anytime, anywhere. 

And this technology already exists.

Solving financial fragmentation

Unified cross-chain payment platforms for crypto and fiat currencies exist, which removes the need for banks, multiple wallets, bridging or seed phrases. It’s underpinned by an omni-chain ID, a universal payment ID aggregating wallets, accounts, and DIDs – like a new swift code. 

Programmable payments and one-click cross-chain transactions simplify the user experience and makes financial transactions across borders effortless. With smoother cross-chain asset movement – regardless of currency, token, wallet, app or blockchain – the increase in value flow will lead to more liquidity and innovation. 

Users can bypass centralised exchanges for trading between different cryptocurrencies – further reducing the reliance on custodial platforms, fees, risks of exchange hacks, and the need to entrust third parties with private keys. 

This means an individual can use Bitcoin to participate in lending or staking on Ethereum-based DeFi protocols, through interoperability solutions such as wrapped tokens or cross-chain bridges. 

Being less dogmatic about our decentralised chain of choice (Bitcoin maxis vs Ethereum evangelists) will promote participation in different ecosystems and open up the space to people who are intimidated by crypto culture. A unified on-chain payments experience is the future. No single blockchain should dominate. 

Also Read: On-chain analytics firm Nansen acquires staking provider stakeWithUs

Benefits beyond banking 

Omni-chain infrastructure has the potential to extend far beyond purely financial transactions. It can revolutionise other industries that require cross-border payments such as supply chain management, healthcare, and entertainment. 

Companies can manage supply chains with greater efficiency by ensuring payments and data move seamlessly between multiple blockchains, improving operational efficiency. With the world’s reliance on Asia for consumer goods, the region is well-positioned to adopt blockchain technologies. 

With Southeast Asia being a key region for web3 gaming, the growing number of developers also stand to benefit from cross-chain interoperability. When blockchains can communicate seamlessly, it opens up new possibilities for applications to interact with multiple chains – without needing to manage the complexities of bridging between them. 

For example, developers can deploy decentralised finance applications that tap into liquidity across several blockchains, rather than being constrained to one ecosystem. This flexibility fosters a more dynamic and interconnected on-chain  environment, where developers can experiment and iterate faster, driving the next wave of blockchain-based innovations. 

The easier it is to build, the faster it’ll be to onboard new users into web3 – without users having to worry about what chain they’re on. 

The key to connecting people across borders and blockchains 

Interoperability is the missing component that will unlock crypto’s true potential, well beyond the industry itself. The decentralisation movement started with DeFi, but it failed to solve the fundamental flaws of cross-border transactions – with disparate blockchains recreating and repacking the silos of the past. 

By leveraging technologies that enable cross-chain interoperability, we can move away from centralised intermediaries, which was crypto’s original intention. 

It’s time to redefine crypto payment solutions and open web3 up to the world. 

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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Echelon Philippines 2024: Carlo Chen-Delantar of Gobi Partners on the state of play in the Philippine market

The State of Play: Emerging Trends and Future Prospects in the Philippine Market

Echelon Philippines 2024 gathered key players in Southeast Asia’s tech ecosystem, uniting startup leaders, entrepreneurs, and investors to support the region’s dynamic tech market and economic development.

The event’s keynote, ‘The State of Play: Emerging Trends and Future Prospects in the Philippine Market’, was delivered by Carlo Chen-Delantar, Founding Partner at Gobi-Core Philippine Fund (Gobi Partners).

In his address, Delantar explored the current state of the Philippine market, identifying both the drivers of its rapid growth and the challenges that lie ahead. As one of Southeast Asia’s fastest-growing economies, the Philippines boasts a startup ecosystem valued at nearly US$7 billion, supported by over US$300 million in early-stage funding and median seed rounds around US$800k.

Also Read: Julian Cua of BCG at Echelon Philippines 2024: Understanding Filipinos’ daily challenges to drive meaningful innovation

However, the ecosystem faces hurdles, such as high logistics costs and the need for stronger government support.

Delantar noted emerging sectors like health tech, agritech, and AI as areas with high growth potential. The Philippines has a robust consumer base for AI applications, positioning it as a promising market for innovation. He underscored the importance of policy changes, including startup visas and tax incentives, to sustain and accelerate growth. The conference underscored the Philippines’ pivotal role in the regional tech landscape, with a call for enhanced infrastructure and policy support to realise its full potential.

Watch the session video above to learn more about these insights and the strategies shaping the future of entrepreneurship.

Missed Echelon Philippines this year? You can now catch the recorded sessions on demand, showcasing insights from leading startup experts, visionary entrepreneurs, and forward-thinking investors from the Philippines and Southeast Asia, all geared toward driving the next phase of growth. And stay tuned—more videos are coming soon!

Watch Echelon Philippines and ECX here.

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Ecosystem Roundup: Singapore’s US$332M fund to boost deeptech innovation | Vingroup arm to invest US$50M in SEA tech firms | Supermom raises US$14M

Dear reader,

Singapore’s decision to inject US$332 million into deeptech startups through the Startup SG Equity scheme is a bold, forward-looking move that demonstrates its commitment to nurturing high-tech innovation.

Deeptech ventures—known for their groundbreaking research in areas like AI, quantum computing, and biotech—often face significant funding challenges due to high upfront costs and extended timeframes to profitability.

By expanding the scheme to cover early-growth-stage companies and raising government investment caps, Singapore is strategically addressing these hurdles, creating a more supportive landscape for startups to thrive.

The additional initiatives announced at SWITCH 2024 underscore Singapore’s ambition to be a global innovation hub. New programs like StageOne will help local and international startups leverage Singapore as a launchpad, while the expanded Global Innovation Alliance (GIA) network, particularly with new nodes in Amsterdam and Eindhoven, opens the door to the European market for Singaporean tech firms.

Furthermore, the government’s focus on open innovation challenges, especially in AI and sustainability, highlights its drive to tackle pressing global issues through tech.

These moves not only solidify Singapore’s status as an attractive destination for venture capital but also as a key player in global deeptech ecosystems poised for transformative impact.

Sainul,
Editor.

NEWS & VIEWS

Singapore to inject US$332M into deeptech startup scheme
This comes amid a “slight decline” year on year in the total VC raised by Singapore-based startups so far this year – the figure stood at US$4B across close to 370 deals.

Vingroup’s new venture arm to invest US$50M in SEA tech firms
Named VinVentures, the fund is set to disburse US$50 million in the next three to five years, focusing on investments in early-stage companies in sectors such as AI, semiconductors, and cloud computing.

Khazanah launches national fund-of-funds to boost VC ecosystem
Khazanah Managing Director Amirul Feisal Wan Zahir said that through this catalytic initiative, Jelawang Capital will continue to grow Malaysian fund managers while crowding in regional fund managers with expertise and capital.

Supermom lands US$14M funding to connect brands with 10M+ parents across SEA
Granite Asia, AC Ventures, and Hearst Ventures are the investors; Supermom is an AI consumer data platform that uses the power of the mom community to provide learning opportunities and recommendations on products and services.

KXVC introduces KX Horizon to boost AI, Web3, deeptech innovations in SEA
KX Horizon will provide an expert mentorship network, strategic consultation, and access to funding sources for participating startups; This initiative seeks to attract visionary founders, investors, and partners to collaborate within the programme.

Borong, Maybank launch Malayasia’s first digital halal marketplace Salaam Market
The platform provides a digital marketplace for sourcing Halal-certified products at competitive prices, directly linking SMEs with suppliers.

Vietnam EV maker VinFast officially launches in the Middle East
VinFast, together with its partner Al Tayer Motors, officially opened its first dealership in the UAE, located in the downtown area of Dubai; The VF 8 model will be sold in the Middle Eastern market.

Indian fintech Slice seals bank merger
The merger transforms the Bengaluru-based startup into a banking entity; Slice, which gained prominence by issuing credit card-like products, will maintain its existing digital payment and lending services.

FEATURES & INTERVIEWS

Echelon Philippines 2024: Why the Philippines is the next big tech hub
The Echelon Philippines panel explored the nation’s economic landscape, key industries, and immediate market entry opportunities.

New Ventures: By focusing on value, SEA startups can build models that resonate with consumers
New Ventures plans to invest up to US$100 million over the next few years by making annual allocations from inDrive’s balance sheet.

As demand soars for alternative solar panel materials, Cosmos Innovation uses AI to make the search faster
Cosmos Innovation is an AI-focused company developing advanced solar technology with the goal of increased efficiency.

FROM THE ARCHIVES

How this founder is helping businesses accelerate tech transformation to aid economic recovery
New trends fade away just as quickly as they set in, but the key drivers of business growth remain the same.

How to incorporate sustainability into corporate strategies
With the impact of climate change around the globe, the push for corporate sustainability initiatives has never been greater.

Exploring the rise of finance-as-a-service in APAC
The fact that many fintechs aspire to win in the APAC region, and not just in domestic markets, gives finance-as-a-service a unique opportunity.

How AI, AR, and live streaming are changing the online shopping experience
Businesses are using AI-powered chatbots, product recommendations, and emerging technologies like AR and VR to create immersive and interactive e-commerce experiences.

Unleashing AI’s potential: The vital role of human guidance in AI’s growth and learning
Artificial intelligence and humans have the potential to become invaluable partners in our pursuit of knowledge, growth, and innovation.

Life in plastic, it’s not fantastic: Unraveling the causes (Part 1)
Asia stands as the world’s largest plastic-producing region, manufacturing approximately 51 per cent of the total global production of plastic materials.

How to build customer trust with improved data privacy
Protecting customer data privacy is paramount for cultivating consumer trust and ensuring business operations run smoothly.

The tale of the have-yachts and the have-nots in the proptech sector
The use of proptech can create an alternative for developers and can combine investors into a powerful buying group.

Top 4 lessons I’ve learned building a deeptech brand from scratch
Here I pen down my marketing journey, detailing how I developed a strategy to position Accredify as a thought leader and trusted brand.

How to shape Singapore’s attractiveness in deep and frontier tech
The frontier tech sector in Singapore needs to produce more promising research ventures that are geared towards commercialisation and international growth.

‘AIR’ review: 3 lessons for dealmaking and entrepreneurship
Nike has effectively over 70 per cent share in the basketball shoe market; this article summarises three key takeaways for founders and VCs from the movie, AIR.

Adopting electric construction machinery for a sustainable future in Singapore
Switching to eco-friendly equipment in construction sectors provides environmental, health, safety, economic, and efficiency benefits.

Unlocking hidden gold: How overlooked wet waste streams hold profit potential despite challenges
Wet waste presents a unique challenge due to its exceptionally high water content, often exceeding 80 per cent of the waste’s mass.

Balancing economic growth and climate action: Decarbonising SEA’s built environment
The rise of green buildings and climate challenges create vast opportunities for sustainable innovation in the built environment sector.

Navigating the climate tech landscape in Germany: Opportunities and pathways
Germany’s climate tech landscape offers opportunities for innovation and growth, backed by strong government support and a thriving ecosystem.

What makes a great customer experience?
The modern consumer is multifaceted and complex, reacting to a wide range of factors: economic, social, political, and beyond, and they are more demanding than ever before.

Digital transformation: It starts and ends with our people
Kickstart any digital transformation initiatives by involving your employees and helping them understand their roles, workflows, and needs.

New player emerges in Vietnamese startup ecosystem: Accelerator as a service
Emakase is bridging the service gap to serve “highly self-aware” startups and SMEs with tailored accelerator resources and innovation programmes.

How corporate innovation in Vietnam is fledgling the B2B startup ecosystem
Zone Startups is contributing to Vietnam’s push to leverage its well-known software outsourcing industry into a fledging B2B startup ecosystem.

How to scale your digital business
Now is the time to build a resilient and scalable business to handle the fluctuation of the consumer market and optimise revenue.

THOUGHT LEADERSHIP

The state of digitalisation in Malaysia 2024: How other Southeast Asian countries can learn from them
The future of digitalisation in Malaysia and Southeast Asia holds great promise, offering numerous opportunities for growth and innovation.

Looking for the next Shou Zi Chew: Moulding Singaporeans into global firm CEOs
It’s never easy being a CEO, but those at the helm of global organisations today have it tougher than most.

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Finfra secures US$2.5M to power Indonesia’s lending ecosystem in new partnership with Tyme Group

The Finfra team

Indonesia-based lending infrastructure firm Finfra has received US$2.5 million in a funding round led by Cento Ventures.

Accion Venture Lab, Z Venture Capital, Matiss Ansviesulis (founder of Avafin), and existing investors also participated.

The company will use the new funds to expand onboarding capabilities for customers and target profitability. Additionally, Finfra plans to enhance its data analytics, scoring, and risk assessment products.

Additionally, the fintech firm has announced a partnership with Tyme Group, the multi-country digital banking group behind TymeBank in South Africa and GoTyme Bank in the Philippines. It aims to support Tyme’s expansion into Indonesia as part of its broader Southeast Asia growth strategy following its launches in the Philippines and Vietnam. Tyme can leverage Finfra’s platform to scale its embedded lending solutions, such as merchant cash advances.

Also Read: Finfra bags US$1M to provide embedded lending services to Indonesian businesses

“Southeast Asia is a central part of Tyme Group’s growth strategy, and Indonesia has long been a goal for our Group. Partnering with Finfra allows us to tap into Indonesia’s immense SME segment by leveraging its robust embedded lending infrastructure and network within digital platforms. This collaboration not only accelerates our mission of driving financial access but also enables us to offer innovative lending solutions to a broader audience of businesses and consumers in the region at an unprecedented speed,” Coen Jonker, Executive Chairman at Tyme Group, said.

Founded in 2022, Finfra allows non-financial platforms to integrate lending and unlock new revenue streams easily. Its comprehensive, API-driven infrastructure offers a full loan management system, scoring, portfolio analytics, and access to debt capital while ensuring regulatory compliance through its licensed affiliate.

The company has raised US$4.3 million in funding so far, including US$1 million from DSX Ventures, Seedstars, Cento Ventures, Fintech Nation, FirstPick, BADideas Fund, and Hustle Fund in June 2023.

. Since its last raise, Finfra claims to have doubled its client base and expects to more than double its quarterly gross profit in Q4 2024 compared to Q4 2023. The firm claims it recently facilitated over US$65 million in credit to underserved Indonesian businesses and business owners.

Indonesia, the largest economy in Southeast Asia, boasts a vibrant SME sector that is rapidly digitalising. By the end of the year, 24 million micro, small, and medium-sized enterprises (MSMEs) are expected to be online or using digital services out of the country’s total 64 million. The government aims to accelerate this transformation, targeting 30 million digitalised businesses by 2025.

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DCAP nets strategic funding to advance financial inclusion with AI-driven lending solutions

DCAP Holdings, a Malaysian fintech company focused on promoting financial inclusion, has bagged an undisclosed strategic investment led by Gobi Partners.

The capital will help DCAP accelerate its mission to provide equitable financial solutions to marginalised communities across Malaysia.

Also Read: How fintechs can contribute to the world’s sustainability goals

Founded in 2020 by Sonia Ng and Wilson Kok, DCAP leverages AI, machine learning (ML), data analytics, and automation to address the financial challenges of underserved and unserved consumers. Its go-to-market lending-as-a-service (LaaS) model allows traditional financiers to embrace digital transformation to streamline processes, enhance customer reach, and offer more accessible services for the underbanked.

Its AI/ML-powered Credit Scoring Model and Mobility Hire Purchase Lending solutions offer tailored and affordable financing options by seamlessly connecting financiers with borrowers through its proprietary tech-driven platform.

The company’s data-centric approach allows for fairer lending terms, designed for lower-income individuals, who currently account for 92 per cent of its customer base.

The startup partners with banks, credit companies, motorcycle dealers, and cooperatives. Since 2022, the company has provided green vehicle financing for electric two-wheelers (E2Ws).

Also Read: Exploring the rise of finance-as-a-service in APAC

Gobi’s investment is driven by DCAP’s potential to disrupt predatory lending by providing innovative financial solutions that empower vulnerable consumers. Using its proprietary risk framework, DCAP offers transparent loan options for lower-income groups. Its advanced credit scoring models enable accurate risk assessments, driving the digital transformation of traditional motorcycle retailers while helping borrowers access fairer financing.

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As global funding slows, MENA continues to attract investment

As we approach the final quarter of 2024, the global venture capital landscape is undeniably in flux. Funding has tightened, and Emerging Venture Markets (EVMs) are also feeling the pressure.

Our latest quarterly update shows that the first nine months of this year saw a significant 45% year-on-year decline in total investments across markets in Southeast Asia, Africa, the Middle East, Turkey, and Pakistan. It’s a tough environment to navigate, and yet, not every market is feeling the pinch in the same way.

The standout story so far has been seen within the markets of the Middle East and North Africa (MENA). Despite global headwinds, MENA has managed to buck the broader trend, with just a 13 per cent decline in funding—far from the steeper contractions seen elsewhere. This resilience is no accident; it reflects the region’s increasing maturity, its appeal to international investors, and the strategic role it plays in the broader global investment narrative.

At MAGNiTT, we’ve been closely tracking these developments, and what we’re seeing in MENA is remarkable. The region’s startups raised US$1.3 billion in the first nine months of 2024, and although the number of deals dropped slightly, MENA has proven itself capable of weathering the storm.

In fact, Q2 and Q3 of this year both outperformed the same periods in 2023. This speaks volumes about the growing confidence investors have in the potential of this region.

Also Read: Golden Gate Ventures hits first close of US$100M MENA Fund

The driving force behind this performance is clear: international interest in MENA has surged. In the first nine months of 2024, we’ve seen a 34 per cent increase in the number of investors, with a staggering 69 per cent rise in international participants. Events like Expand North Star and the Future Investment Initiative Forum are only amplifying this trend, bringing global investors into direct contact with the opportunities this region has to offer. With Q4 typically being the strongest quarter for VC activity in MENA, we’re optimistic about what’s to come.

Countries like the UAE, Saudi Arabia, and Egypt are leading the charge. The UAE saw a 12 per cent rise in the number of closed deals, capturing nearly 40 per cent of all MENA transactions. It’s no surprise—this is a hub where early-stage rounds are thriving, particularly in seed and pre-Series A deals, which grew by 40 per cent year-on-year.

Saudi Arabia isn’t far behind, with deals counting up to seven per cent, driven by a 46 per cent rise in seed deals from innovative startups like Moyasar and SiFi. Even Egypt, while experiencing some headwinds at the pre-seed level, posted impressive growth in seed and Series A deals, signalling a shift toward more mature startups.

Of course, the picture isn’t universally bright. Africa and Southeast Asia have faced significant challenges this year. Africa’s startups raised US$839 million, a sharp 38 per cent YoY drop, while Southeast Asia saw the largest contraction of all EVMs, with a 51 per cent YoY decline in funding. These markets are currently recalibrating, particularly as mega deals are becoming fewer and the ecosystem shifts.

Looking ahead, we believe Q4 2024 will be critical—not just for MENA but for the global venture ecosystem. With global trends suggesting lower interest rates and an uptick in investment activity, the real question is: can we expect a rebound in Q1 of 2025?

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 InstagramFacebookX, and LinkedIn to stay connected.

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Echelon Philippines 2024: Why the Philippines is the next big tech hub

Why Philippines: The Advantages of Launching and Setting Up Your Business

Echelon Philippines 2024 united startup leaders, entrepreneurs, and investors from the Philippines and Southeast Asia to support the region’s burgeoning tech market and drive economic growth.

The conference featured a panel discussion titled ‘Why Philippines: The Advantages of Launching and Setting Up Your Business’, which explored the nation’s economic landscape, key industries, and immediate market entry opportunities.

Moderated by Ranvir Singhsachakul, Director of Marketing and Business Development at MessageSpring, the panel delved into sustainable growth strategies that new ventures could adopt. These included fostering local partnerships, ensuring regulatory compliance, and investing in infrastructure to establish a solid foundation. The discussion also highlighted available government incentives, access to talent, and methods for building strong relationships with local stakeholders.

Speakers included Afanasiy Petrov of inDrive, Bela Gupta D’Souza of edamama, Ron Baetiong of Podcast Network Asia, and Jay Fajardo of IdeaSpace Ventures.

Also Read: Echelon Philippines 2024: Beyond traditional frameworks with Minette Navarrete of Kickstart Ventures

The panelists shared their insights on the Philippines’ appeal for new businesses: Baetiong discussed how incorporating startups in Singapore can improve fundraising options, while Petrov shared inDrive’s success in the Philippines by engaging directly with local communities. D’Souza noted the growing potential in consumer retail and e-commerce, driven by changing needs during the pandemic. Fajardo emphasised the progress in the Philippines’ startup ecosystem, especially in sectors like fintech and logistics.

Together, they advised new entrants to familiarise themselves with local regulations, seek partnerships within the market, and draw on the expertise of established founders for guidance.

Watch the session video above to learn more about the insights shared during the discussion.

Missed Echelon Philippines this year? You can now catch the recorded sessions on demand, showcasing insights from leading startup experts, visionary entrepreneurs, and forward-thinking investors from the Philippines and Southeast Asia, all geared toward driving the next phase of growth. And stay tuned—more videos are coming soon!

Watch Echelon Philippines and ECX here.

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Supermom lands US$14M funding to connect brands with 10M+ parents across SEA

Supermom, a Singapore-headquartered online platform connecting brands to consumers (mothers, families, and local communities), has raised S$18 million (US$14 million) in a Series B funding round.

Granite Asia led the round and saw participation from returning investors AC Ventures, besides Hearst Ventures.

Also Read: How Southeast Asia’s Supermom retains its Fortune 500 clients

The company will use the funds to invest in AI capabilities and international expansion, enhancing its product offerings and driving innovation. Team expansion is also on the agenda.

The funding comes less than two years after Supermom bagged a Series A round of SGD8 (US$6) million in December 2022 led by Qualgro.

Established by Joan Ong (former MD of Terrapinn), Luke Lim, and Rebecca Koh, Supermom is an AI consumer data platform that uses the power of the mom community to provide learning opportunities and recommendations on products and services. It enables consumers to share insights and user-generated content, fostering connections among like-minded parents. In exchange for their insights and user-generated content, Supermom creates income-earning opportunities for mothers and helps foster connections among like-minded parents.

The startup claims to have built an ecosystem and network of over 10 million parents in Southeast Asia, over 6,000 online communities, and over 250 consumer brands as its clients, including AIA, Kimberly Clark, Abbott Laboratories, Unilever, Mandiri, Indofood, and Wings Group. 

Also Read: Parenting platform Supermom closes US$6M Series A led by Qualgro

Supermom has a presence in Indonesia, Malaysia and Vietnam.

Luke Lim, CEO of Supermom, said: “As a company we remain committed to building the largest AI-driven data platform in SEA connecting brands and consumers.”

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