Dear reader,

The establishment of Danantara, Indonesia’s ambitious national investment agency, signifies a key shift in how the nation intends to manage its substantial state-owned assets.

President Prabowo Subianto’s vision draws inspiration from successful sovereign funds like Singapore’s Temasek, aiming to streamline and enhance the profitability of Indonesia’s SOEs while attracting global investment. By consolidating state-owned enterprises across diverse sectors, Danantara could become a powerhouse, reshaping Indonesia’s investment landscape.

However, Indonesia must heed lessons from Malaysia’s 1MDB scandal, prioritising transparency and independence from political interference. The success of Danantara hinges on strict adherence to professional management principles and the appointment of executives with credible track records.

Analysts are right to highlight the need for a robust legal framework to support this agency, which could ensure its operational independence and foster investor trust.

Although overlaps with the Indonesia Investment Authority (INA) raise some concerns, Danantara’s envisioned autonomy could set it apart, focusing purely on profit-driven state investment.

If managed with integrity and strategic insight, Danantara could emerge as a pivotal force in advancing Indonesia’s economic growth, harnessing its nearly trillion-dollar asset target to drive sustainable development and strengthen Southeast Asia’s largest economy.

Sainul,
Editor.

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NEWS & VIEWS

Indonesia to launch Temasek-style fund amid transparency concerns
The country will soon launch Danantara, a national investment agency to overhaul multibillion-dollar state-owned assets; Some observers have raised concerns about potential overlaps with the sovereign wealth fund, the Indonesia Investment Authority.

Wavemaker launches US$60M fund to bridge Series B gaps in SEA
With a hard cap of US$100M, Wavemaker Growth Opportunities Fund will invest in high-potential startups in the enterprise, deeptech, and sustainability sectors.

Sea Group’s Q3 revenue up 30.8% to US$$4.3B
The total gross profit for the quarter was US$1.9B, also up 29.1% y-o-y; Total net income was US$153.3M, as compared to total net loss of US$144M a year ago.

MAS launches US$500M in matching concessional funding to decarbonise Asia
The Singaporean regulator said that Financing Asia’s Transition Partnership (FAST-P) is a blended finance initiative which brings together international public, private and philanthropic partners to support Asia’s decarbonization and climate resilience.

AnyMind’s Q3 revenue surges 53% on strong D2C, e-commerce platforms growth
The group’s gross profit for the quarter followed a similar upward trajectory, increasing by 46% YoY to US$30M; The D2C and e-commerce platforms segment achieved a 65% YoY increase in gross profit.

Turing Space nets US$3M to expand digital identity solutions globally
The lead investor is Profederal; Turing Space aims to streamline certifications across various industries by leveraging blockchain to build a borderless digital trust network.

South Korean police bust US$228M crypto scam, 215 arrested
The Gyeonggi Nambu Provincial Police announced Wednesday that these individuals include the alleged leader of the syndicate which promised large returns to approximately 15,000 investors.

Founders Factory launches in Singapore to bolster SEA deep tech, climate tech ecosystem
The expansion of Founders Factory marks a strategic move to bolster regional startup ecosystem, creating new opportunities.

Malaysia’s DF Automation & Robotics raises US$1.85M funding
Investors include Vynn Capital, MTDC, and Leave a Nest Capital; DF Auto has the capability to design and manufacture autonomous mobile robots for various industries.

Collektr bags US$1.3M to expand livestream collectibles platform across APAC
The investors include AC Ventures Malaysia, The Hive Southeast Asia, and Creador Foundation; The platform specializes in high-demand categories like trading card games, comics, sneakers, handbags, and art.

Indosat, GoTo launch Sahabat-AI: Indonesia’s open-source LLM
It is specifically designed for Bahasa Indonesia and its local languages; This project will advance the country’s digital sovereignty, preserving its linguistic heritage, and unlocking new pathways for socio-economic growth and innovation.

Dossier secures funding to accelerate AI-powered compliance solutions for emerging markets
The investor is nVentures: Dossier has developed an AI-powered risk operating system initially focused on anti-money laundering and customer screening.

Disrupt Health invests in DiaMonTech’s non-invasive glucose monitoring tech
The fund will provide DiaMonTech connections with healthcare experts across Southeast Asia and facilitate its entry into the region.

US-based Hemisphere Ventures expands into Southeast Asia
The VC firm has opened an office in Singapore; Hemisphere makes early-stage investments in space, cybersecurity, biotech, nanotech, drones, robotics, and other frontier technologies; Chip Whittemore will lead Hemisphere’s Singapore operation.

FEATURES & INTERVIEWS

High-profile startup failures in Southeast Asia: What went wrong?
In the past five years, failures in the region have been led by a combination of capital scarcity, reduced product demand, and governance issues.

Building Malaysia’s digital future: Ir. Wan Murdani on MDEC’s ambitions with Ascent and CCV
Over the next three years, MDEC aims to facilitate the development and investment of 20-30 startups, strongly emphasising scalable business models.

Growth made possible: Addressing challenges faced by early stage startups in SEA
The high failure rate underscores the need for a systematic framework to accelerate early-stage startups towards a proven market opportunity.

Echelon PH 2024: Beryl Li on YGG’s integration of AI and blockchain for the future of work
YGG redefines work in the Philippines through AI, blockchain, and gig economy principles, creating global economic opportunities.

DANA’s Vince Iswara: ‘Fastest way to financial inclusion is through frictionless accessibility’
The DANA Indonesia CEO also explains the psychological barrier that prevent underbanked communities in Indonesia from accessing services.

Echelon Philippines 2024: Strategies for startups entering Southeast Asia’s dynamic markets
Unlock the potential of Southeast Asia’s markets for startups by exploring the strategic advantages of key nodes and hubs in the region.

Echelon Philippines 2024: The next horizon for e-commerce entrepreneurs
Explore the evolution of e-commerce in Southeast Asia, with a focus on success stories from the Philippines.

FROM THE ARCHIVES

How to drive business innovation with AI-powered data analytics
In the face of ever-expanding datasets, businesses must leverage AI and big data to drive innovation and streamline operations.

How to unlock the potential of conversational commerce in Asia Pacific
Latest research: APAC companies boost cloud investments for enhanced customer experiences and operational efficiency.

How machine learning really impacts us in our daily lives
From the health perspective, machine Learning can not only see the hidden characteristics of genomics data, it can also assist with diagnosis.

Why all leaders need to understand the impact of modern observability
Providing a view of the genuine business value of observability demands dedicated time and collaborative efforts across the organisation.

The canary in Singapore’s retail coal mine is ‘kiasu’
In Singapore’s retail scene, kiasu shoppers signal the need for business agility in the rapidly changing socio-economic landscape.

How edutech is solving the global teacher’s crisis
What happens when a teacher is not given the optimal environment to transfer knowledge? They leave the system due to a lack of support?

Edutech is opening up opportunities, but we need to get it right
For edutech to be truly transformational—the industry needs to urgently address a couple of things. Find out what.

How to tackle the biggest challenge for hyper-growth tech startups today
Three business challenges that we have observed hyper-growth startups in the region are tackling—and our recommendation for them.

Preparing kids for the future of work by asking founders the skills they hire for
A key question I get is If kids can learn to code, why can’t kids learn first principles thinking? Or clear communication? Or self-awareness?

The inevitable digitalisation of education and what educators really need
Beyond the ability to deliver lessons virtually, it is important to replicate the social aspect in a traditional classroom.

THOUGHT LEADERSHIP

Why security shouldn’t take a backseat for startups
Discover why security is essential for tech startups, as neglecting it can harm brand reputation and customer trust.

Why the Fed’s 2 per cent inflation target is outdated and harmful to today’s economy
Explore the origins and impact of the Fed’s two per cent inflation target. Is it still relevant in today’s global economic landscape?

From 5G to AI: Why Southeast Asia’s tech boom can’t survive without liquid cooling
The demand for faster, more powerful data processing will only intensify as AI, 5G, and digital services continue to evolve.

How video production can boost your brand’s reach
Video production is essential for brand visibility, driving customer engagement and purchase decisions across platforms like YouTube and Instagram.

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Image Credit: 123RF.

The post Ecosystem Roundup: Indonesia to launch Temasek-style fund | High-profile startup failures in SEA | Wavemaker sets up US$60M growth fund appeared first on e27.

DF Automation & Robotics (DF Auto), a Malaysian robotics company, has received US$1.85 million in a new funding round to support its growth plans.

The investment round was led by Vynn Capital, a Malaysia-based venture capital firm, through its mobility and supply chain fund.

Also Read: Navigating challenges and opportunities in the Malaysian robotics industry

Other participants in the round included existing investor Malaysian Technology Development Corporation (MTDC), new investor Leave a Nest Capital from Japan, and individual investors through equity crowdfunding.

Established in 2012 by three engineers from Universiti Teknologi Malaysia (UTM), DF Auto specialises in designing and manufacturing autonomous mobile robots (AMRs). AMRs are self-navigating robots that automate intralogistics, particularly in smart factory settings.

The company provides a range of AMR models, including Zalpha, Zetha, Zamma, Titan, and Zoei, each catering to different loads, purposes, and capabilities.

DF Auto serves a global clientele, including multinational corporations (MNCs) in industries like semiconductor manufacturing, automotive, electronics and electrical (E&E), food and beverage (F&B), aerospace, and healthcare services. The company exports its robots to various countries.

DF Auto has gained recognition for its innovative technologies and customised solutions, such as the Mak Cik Kiah 19 (MCK19) project, which helped distribute medicines and food to COVID-19 patients’ rooms. Another notable project is Zoei, an AMR with omnidirectional navigation capability, allowing it to move efficiently in a 2-dimensional plane.

Also Read: The transformative potential of humanoid robots: A VC perspective

The company also offers an integrated user-friendly ecosystem with its in-house operating system, Navigation Wizard (NavWiz), DFleet, and extensive maintenance support.

The global industrial robot segment is projected to generate US$11.4 billion in revenue by 2029.

The post Autonomous mobile robotics innovator DF Auto lands US$1.85M investment round appeared first on e27.

On 5 November, Branch and e27 gathered top industry leaders, mobile marketers, and decision-makers in Jakarta, Indonesia. Together, they dove deep into one of the most critical aspects of mobile marketing. The exclusive roundtable focused on the importance of precise data measurement. This is imporant as it is a key factor in driving effective marketing strategies and maximising ROI. e27 not only provided the platform for collaboration, but also empowered mobile marketers to take practical steps towards better growth.

A curated space for reshaping mobile marketing

As a seasoned convenor in the tech and startup space, e27 curated a space for experts to discuss critical issues. Among these issues are precise data measurement and optimising the mobile funnel to improve conversion rates. The collaborative setting encouraged knowledge exchange, providing marketers with actionable insights to tackle the evolving challenges in mobile marketing and unlock the full potential of data-driven strategies.

By providing end-to-end management of the roundtable discussion, Branch was able to bring its message closer to its target audience. Participants included the heads of Product, Marketing, and Data teams from prominent companies such as Shopee Indonesia, Jobstreet by Seek, PT. Pegadaian, Gojek, Flip Indonesia, 99 Group, Alodokter, and PT Kasir Pintar Internasional.

Key takeaways on turning data into dollars

The discussion began with the crucial role of accurate data in driving smarter, more informed decisions in mobile marketing. Industry leaders highlighted how leveraging precise data insights not only enables businesses to effectively measure success, but also empowers them to adjust campaigns in real-time for optimal impact.

Another key focus was the importance of understanding each stage of the mobile user journey. With granular insights into user behaviour, marketers are able to fine-tune their strategies. As a result, performance and the user experience are improved at every stage, from initial engagement to conversion.

Experts also underscored the need to transform raw data into actionable insights. By doing so, businesses can enhance customer acquisition, increase engagement, and ultimately boost retention rates. As a result, marketing investments are turned into tangible, measurable growth.

Finally, one of the standout takeaways was the strategy for utilising precise measurement to optimise mobile marketing efforts and maximise ROI. Speakers shared practical advice on enhancing marketing efficiency through data-driven decision-making, which ultimately contributes to sustained revenue growth.

Also read: Empowering brands to build a personalised customer journey with Braze

Towards mobile marketing strategies that maximise ROI

In conclusion, the roundtable hosted by Branch and e27 provided a valuable opportunity for mobile marketers to explore how data-driven insights can revolutionise their marketing efforts and maximise ROI. Through expert-led discussions and practical examples, participants gained a deeper understanding of the critical role precise data measurement plays in developing effective marketing strategies.

This event underscored the significance of turning data into actionable insights, fine-tuning the mobile user journey, and optimising campaigns in real-time. It also showcased e27’s ability to customise a space where meaningful discussions among key stakeholders can take place. As mobile marketing continues to evolve, the insights shared at this roundtable will help leaders stay competitive by leveraging data to drive growth, enhance user engagement, and achieve measurable business outcomes.

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This article is produced by the e27 team

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The post Data to dollars: Reshaping mobile marketing with Branch and e27 appeared first on e27.

Yesterday, Indonesia saw the launch of Sahabat-AI, an open-source large language model (LLM) ecosystem tailored specifically for Bahasa Indonesia and diverse local languages in the country. The initiative, jointly spearheaded by Indosat Ooredoo Hutchison and GoTo Group, reflects the country’s ambition to assert its digital sovereignty while preserving its rich linguistic heritage.

The announcement was made during Indonesia AI Day event which was attended by Erick Thohir, Indonesia’s Minister of State-Owned Enterprises; Jensen Huang, NVIDIA founder and CEO; Vikram Sinha, CEO of Indosat; and Patrick Walujo, CEO of GoTo.

The introduction of Sahabat-AI is described as aligning with the Golden Indonesia 2045 vision, a roadmap to propel the nation into a technological and economic powerhouse. “Sahabat-AI is not just a technological achievement; it embodies Indonesia’s vision for a future where digital sovereignty and inclusivity go hand in hand,” remarked Sinha.

Unlike global LLMs, Sahabat-AI is designed to address Indonesia’s unique linguistic and cultural nuances. It will enable businesses, public institutions, and educational entities to build AI-driven services in native languages.

Walujo echoed these sentiments: “Our vision for Sahabat-AI is to put the power of AI into the hands of everyone in Indonesia. By operating in Bahasa Indonesia, Sahabat-AI addresses critical context and cultural reference gaps left by global large language models.”

Also Read: Autonomous mobile robotics innovator DF Auto lands US$1.85M investment round

Cross-border collaboration

The creation of Sahabat-AI brings together stakeholders across academia, government, media, and industry. Indonesian universities, including the University of Indonesia, Gadjah Mada University, Bandung Institute of Technology, and Bogor Institute of Agriculture, are contributing research and development expertise.

Media organisations such as Republika and Kompas Group are playing a pivotal role in ensuring the AI system’s contextual and cultural accuracy. International partnerships further bolster the project, with AI Singapore and Tech Mahindra providing technical support using NVIDIA’s advanced AI enterprise software, including the NeMo framework.

At its core, Sahabat-AI represents a blend of cutting-edge technology and localised adaptation. The model was trained on NVIDIA’s full-stack AI platform, leveraging the Indosat Group GPU Merdeka sovereign AI cloud service with NVIDIA Hopper-based accelerated computing. Initial iterations of Sahabat-AI will include LLMs with 8-billion and 9-billion parameters, capable of processing vast amounts of data in local languages.

This technological framework is designed to enhance general language understanding while preserving cultural and linguistic nuances. The models are set to be incorporated into applications like Hippocratic AI, the world’s first safety-focused LLM for healthcare, which will extend services to Indonesian residents.

Sahabat-AI is poised to address some of Indonesia’s most pressing challenges, including digital literacy and equitable access to technology. By enabling Indonesians to interact with AI in their native languages, the initiative fosters inclusivity and democratises access to advanced technology.

Also Read: Digitalisation is driving the new normal for Southeast Asia’s automotive sector

“This initiative is a crucial step towards democratising AI as a tool for growth, innovation, and empowerment across our diverse society,” said Sinha. The LLM ecosystem is expected to accelerate growth across key sectors, including education, governance, and commerce, by bridging gaps in digital access.

Walujo added: “Sahabat-AI will help businesses communicate in new ways with customers, empower government ministries to engage more comprehensively with citizens, and drive meaningful change for millions of people across the country.”

While the first phase of Sahabat-AI sets the foundation, its success depends on sustained collaboration. As Walujo pointed out, “The only way to realise this vision is with the support of others.” The initiative calls for continued partnerships with international and local stakeholders to scale the ecosystem and unlock its full potential.

As Indonesia moves towards its 2045 vision, projects such as Sahabat-AI intends to highlight the country’s commitment to harnessing technology for socio-economic progress. By prioritising digital sovereignty and cultural preservation, Indonesia is not only positioning itself as a leader in the AI space but also ensuring that the benefits of innovation are shared across its diverse population.

In the years ahead, Sahabat-AI might become a cornerstone of Indonesia’s technological landscape, a testament to the nation’s ability to combine global expertise with local innovation for the greater good.

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Image Credit: Sahabat AI

The post Sahabat-AI initiative aims to leapfrog Indonesia’s digital sovereignty appeared first on e27.

In an era of rapidly shifting trends and fragmented consumer behaviours, staying culturally relevant is a formidable challenge for businesses. According to Vincent Ruaz, founder of the AI-powered trend analysis platform OwlySearch, the ability to adapt quickly to these shifts sets successful brands apart.

“Today, to stay culturally relevant, businesses must adapt to a world of fast-paced, fragmented, and unpredictable trends,” Ruaz explains. “We live in a decentralised environment where keeping up with trends is harder than ever. Companies are eager to remain relevant, either by setting trends or by following them quickly enough to stay in sync with cultural shifts.”

Ruaz believes Artificial Intelligence (AI) offers an effective solution. OwlySearch, for instance, captures real-time insights into micro-trends, enabling brands to reduce research timelines and accelerate creative processes. This, in turn, results in quicker speed to market and cost reductions—critical advantages in Southeast Asia’s (SEA) competitive landscape, where local brands often outpace larger companies in agility.

One of the pressing issues OwlySearch addresses is the so-called “walled garden” of major tech platforms, which limits access to valuable behavioural data. These restrictions complicate marketers’ ability to map consumer journeys effectively.

“OwlySearch provides marketers with actionable behavioural data, empowering them to make informed investments and move away from guesswork,” Ruaz states. Unlike competitors, OwlySearch focuses on real user behaviours, capturing long-term and short-term trends with unmatched granularity.

Also Read: Sahabat-AI initiative aims to leapfrog Indonesia’s digital sovereignty

For example, Ruaz shares, “We’re seeing the song ‘APT.’ by Rosé and Bruno Mars trending within the makeup category among US audiences on social media. No other platform detects this type of micro-trend at a category level.” Such insights are invaluable for brands aiming to produce timely and culturally relevant content.

Towards a strong 2025

OwlySearch operates on a software-as-a-service (SaaS) model. Subscribers gain access to either an interactive dashboard for trend exploration or weekly trend reports delivered promptly every Monday. These reports enable brands to brief their creative teams and key opinion leaders (KOLs) in real-time, allowing them to act swiftly on emerging trends.

Ruaz outlines the platform’s user base as comprising multinational corporations, medium-sized enterprises, and even NGOs. The company attracts clients through networking, industry events, cold outreach, and recommendations.

OwlySearch is co-founded by Ruaz, a seasoned digital marketer with a résumé that includes leading roles at L’Oréal and Publicis Innovation Lab, and Kim Ji Eun, the company’s CTO, whose expertise in data analytics stems from her time at Meta and Publicis Digital Lab. Together, they manage a lean team of fewer than 10 individuals.

This compact structure has not hindered their progress. Rather, it has enabled the team to remain agile as they focus on refining their product and expanding their client base.

Also Read: Digitalisation is driving the new normal for Southeast Asia’s automotive sector

Despite their early success, OwlySearch remains a bootstrapped venture. Ruaz reveals that the company has not yet sought external funding, preferring to establish a strong client base and demonstrate product-market fit.

For 2025, the company has an ambitious growth target. “Our big plan for 2025 is to double our growth,” Ruaz says. “We have a strong product that we’re continually optimising, but our main focus is scaling the business.”

OwlySearch recently earned recognition as one of the top 10 startups in the L’Oréal Big Bang Beauty Tech Innovation Program. Selected from nearly 1,000 applicants across the Middle East, India, and SEA, this achievement has already opened doors for the startup.

“Participating in the L’Oréal Big Bang Beauty Tech Innovation Program is an honour,” Ruaz reflects. “It’s a credibility booster, opening doors not only within L’Oréal but with other organisations. Several companies have already approached us for trend-hacking solutions.”

OwlySearch aims to leverage this recognition to deepen its collaboration with L’Oréal and forge new partnerships, scaling its reach and impact.

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Image Credit: OwlySearch

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