Singapore-based Portcast, a provider of real-time transportation visibility and predictive analytics, has secured US$6.5 million in Series A funding.

The round was led by Susquehanna Asia VC, with participation from new investors Hearst Ventures and Signal Ventures, alongside existing investors Wavemaker Partners, TMV, and Innoport.

The new funding will be strategically allocated to accelerate product innovation, particularly leveraging generative AI to enhance risk management, transport planning, and invoice auditing capabilities.

A portion of the money will be used to deepen penetration in key markets across the Asia Pacific and Europe and foster collaborations with technology partners.

Also Read: Portcast raises US$3.2M to provide predictive AI solutions to freight forwarders, manufacturers

Headquartered in Singapore, Portcast aims to enhance global trade resilience through actionable data. By leveraging machine learning and advanced large language models (LLMs), Portcast offers actionable insights through an easy-to-integrate API and portal.

The platform aggregates data from various sources, including carriers, terminals, geolocation and risk data, and proprietary documents.

The company serves a diverse clientele, including shippers, logistics service providers, and TMS systems, providing a unified and reliable visibility solution. Its client roster includes industry leaders such as AIT Worldwide Logistics, Otentic Customs, FreshCo, and Wilo Group.

Nidhi Gupta, founder and CEO of Portcast, said: “Supply chain disruptions have become the norm, driving up costs for shippers and logistics service providers globally. It is no longer enough to monitor shipments; the priority now is to drive actions from visibility data through automated recommendations. That’s why we’re committed to building a product that uncovers risks in transport but more importantly, automatically suggests actions to reduce freight costs and/or improve customer experience.”

“Looking ahead, we’re eager to expand in Asia Pacific and Europe, strengthening partnerships to bring our solutions to even more companies,” she added.

Richard Hsu from Susquehanna Asia VC, commented: “Portcast has tapped into both public and proprietary data that brings accurate and explainable transportation visibility. But what sets them apart is their ability to turn that data into practical, actionable insights for their customers, setting a new benchmark in logistics decision-making.”

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GlobalFoundries (GF) is a leading global semiconductor manufacturer, focusing on feature-rich solutions. It supports advancements in autonomous and electrified vehicles (ACE), AI at the Edge, and connected devices, leveraging its strengths in radio frequency (RF) performance, embedded memory, and low-power solutions.

GF emphasises enhanced features and capabilities over traditional transistor scaling. This approach addresses the growing demand for energy-efficient, secure, and high-performing chips across high-growth sectors such as AI, automotive, and communications infrastructure.

e27 spoke with Dr Siah Soh Yun, Vice President (Technology Development), who shared her nearly thirty-year journey with GlobalFoundries, the pivotal changes she has witnessed in the semiconductor landscape, and her efforts in building an inclusive workplace.

Excerpts:

Dr Siah, with over 25 years in the semiconductor field, could you share some highlights of your journey with GlobalFoundries and the evolution you’ve witnessed in the industry? How has your experience at GlobalFoundries Singapore shaped your approach to technology development and leadership?

I have been with GlobalFoundries (GF) for nearly 28 years, and one of my proudest achievements has been advocating for diversity at GlobalFoundries.

Early in my career, I was often the only woman in the room, but I was fortunate to have mentors who believed in me. As a leader, I am focused on mentoring and institutionalising support for women engineers through our employee resource groups. This ensures we build a culture of inclusion from the top, which is critical for unlocking the potential of our diverse workforce and spurring the high level of innovation we need for our industry’s growth.

What are the critical priorities for GlobalFoundries’s technology roadmap in the next few years, particularly in Singapore? Which areas do you see it making the most significant technological differences in the foundry landscape?

At GlobalFoundries, we manufacture essential chips that account for 80 per cent of global semiconductor demand (measured by the total area of non-memory silicon processed at nodes 12nm and above). Our focus remains on innovation that allows us to add features and capabilities to our chips to meet our customers’ unique, dynamic needs at the best economics, or what we call feature-rich chips.

Also Read: Transforming asset inspections: How WaveScan’s smart sensors and AI are shaping predictive maintenance

With our global manufacturing sites spanning three continents, all dual-qualified with overlapping technology platforms, GlobalFoundries is uniquely positioned to meet our customers’ needs for these chips, setting us apart from the few other pure-play semiconductor foundries.

Can you walk us through the “More-than-Moore” speciality technologies and their role in GlobalFoundries’s overall strategy?

The “new era of more” drives GlobalFoundries’s growth, creating an explosion of data that demands increased computational power, better connectivity, and enhanced energy efficiency. Semiconductor innovation now focuses on adding features and capabilities to chips, delivering energy-efficient, secure, and feature-rich solutions that meet customer needs with optimised manufacturing and economics.

GlobalFoundries is a leader in manufacturing semiconductors for the evolving automotive industry, particularly as the shift from internal combustion engines (ICE) to autonomous, connected, and electrified (ACE) vehicles takes centre stage. GlobalFoundries’s technology supports increased safety, enhanced user experiences, and sustainability through vehicle electrification.

To succeed in AI at the Edge, GlobalFoundries leverages its strengths in RF performance, digital capabilities, low power consumption, and embedded memory. GlobalFoundries is advancing its technology roadmaps, including FDX (22FDX and next-gen 12FDX) and integrating embedded memory technologies (such as RRAM, MRAM, and ESF3) to enhance RF capability. These efforts position GF to meet the growing demands of AI at the Edge.

GlobalFoundries serves several high-growth sectors, such as AI, automotive, and communications infrastructure. Which sector is seeing the fastest technological advancements?

We are seeing strong momentum in the automotive industry, driven by the increasing electrification of vehicles. Smarter, more connected electric cars now use over 3,000 semiconductor chips, compared to just 50-150 in a typical car today.

This is because an EV is part of a broader network that is connected to the cloud with multiple highways of data being processed and transferred to and from in real-time, and at high speed. As consumer expectations for enhanced capabilities grow, such as advanced driver-assistance systems that enable adaptive cruise control, emergency braking, and collision warnings, the chips powering these systems must evolve accordingly. Continuous innovation in semiconductor technology becomes essential.

At this year’s GlobalFoundries’s Technology Summit, “AI Everywhere” was a key theme. Could you elaborate on GF’s role in supporting AI-driven innovations?

We believe that AI is the catalyst for GF’s next growth phase. The convergence of megatrends like digitisation, connectivity, and cloud computing has paved the way for the AI era. However, AI is not limited to the cloud or graphics processing units (GPUs); it’s about bringing intelligence to the Edge – enabling smarter, more capable devices.

Consumers will increasingly demand AI-powered features in their smart devices and IoT products, essentially putting AI at their fingertips or at the Edge. This shift will drive a massive hardware replacement cycle, with new devices requiring far more processing power than their predecessors. All of this will demand the essential chips that we produce at GlobalFoundries.

You guided GlobalFoundries Singapore through the pandemic’s global chip shortage and subsequent oversupply issues. What were the main takeaways from these experiences?

Our key takeaway from navigating the global chip shortage and subsequent oversupply was the importance of strong relationships and collaboration with our customers and suppliers.

At GlobalFoundries Singapore, we made the bold decision to expand our site when many others were still adopting a cautious watch-and-wait approach. This was possible thanks to our unique economic model—a three-way partnership between GlobalFoundries, the Singapore Economic Development Board, and customers to protect economic and national security and competitiveness.

Also Read: Silicon Box’s Business Head on how chiplet architecture transforms semiconductor scalability

Such an approach also underscored the value of taking a relationship-first approach, working closely with our trusted customers and partners to secure long-term agreements that helped stabilise demand and guaranteed supply to customers worldwide.

How does GlobalFoundries balance maintaining a stable supply chain with the often unpredictable fluctuations in demand within the semiconductor industry?

The semiconductor industry will continue to face complex macroeconomic and geopolitical challenges. At GlobalFoundries, we recognise these risks and have made strategic investments over the years to build a robust, global manufacturing footprint across three key regions–Germany, Singapore, and the US. Our products are dual-qualified, meaning we can manufacture the same product in multiple locations, ensuring flexibility and continuity.

Additionally, we source materials from various suppliers as part of our comprehensive business continuity plan. This enables us to shift production across facilities as needed, offering our customers the geographical diversification and supply chain security they rely on.

How is GlobalFoundries addressing the challenge of creating semiconductors that balance high performance with energy efficiency, especially as sustainability becomes increasingly crucial?

GlobalFoundries’s mission is to innovate and partner with our customers to deliver process technology solutions for all humanity. The semiconductors we deliver to our customers are a core technology enabling energy efficiency across multiple end markets and the associated reductions in greenhouse gases.

Power efficiency is critical in this new era of semiconductors, especially for battery-powered devices. GF’s technology solutions prioritise power optimisation, ensuring sustainability while maintaining performance. High-speed connectivity, high-performance RF, and low-latency data transmission are vital to meet the needs of data centres, IoT, and smart devices.

Our solutions also integrate embedded intelligence and security, providing robust capabilities for handling and protecting large amounts of data efficiently.

Could you share your approach to talent development within GF, particularly in encouraging the next generation of semiconductor engineers?

GlobalFoundries takes a comprehensive approach to talent development, emphasising continuous learning, innovation, and empowerment. GF advocates for modernising job roles through digital transformation. By leveraging AI, machine learning, and other advanced technologies, engineers can optimise production, improve quality, reduce waste, and address manufacturing challenges more efficiently. This also reshapes perceptions about the industry, attracting tech-savvy GenZ talent.

Given the semiconductor industry’s highly skilled workforce, GF nurtures a robust skills ecosystem focused on continuous upskilling, reskilling, and cross-skilling.

We provide various learning opportunities, scholarships, work-study programs, and strategic partnerships tailored to support employees at every career stage. Through strong collaborations with local universities and government agencies, GF ensures it stays at the forefront of innovation while actively developing the next generation of semiconductor talent.

Given GF’s global footprint, what unique opportunities or challenges come with managing a team in Singapore within such a multinational organisation?

Managing a team in Singapore at GlobalFoundries offers opportunities for global collaboration, access to a skilled workforce, and leadership in the growing semiconductor sector.

However, challenges include navigating cross-cultural differences and ensuring inclusivity, as diverse communication styles and work norms require thoughtful leadership to foster integration and alignment.

GlobalFoundries promotes inclusion and cultural diversity through initiatives like executive-sponsored Employee Resource Groups for connection and advocacy, cultural competence tools like GlobeSmart to improve cross-cultural collaboration, and inclusive leadership training to equip managers with the skills to foster diversity and equal opportunities.

This approach helps maximise the potential of a diverse team while contributing to the continued success and growth of the organisation in the semiconductor industry.

How will the semiconductor landscape change over the next decade, especially in Southeast Asia?

Southeast Asia has experienced significant growth in its semiconductor industry, with Singapore standing out as a key hub. The country boasts a robust semiconductor ecosystem, including design houses, foundries, and equipment and material suppliers.

The region’s lower labour costs, skilled workforce, and stable infrastructure have driven the growth of backend and testing facilities. Geopolitical shifts have further increased Southeast Asia’s appeal as an alternative location for companies looking to diversify their semiconductor production.

Also Read: Zero-Error Systems: Safeguarding space travel from satellite collisions and debris

As the semiconductor ecosystem in Southeast Asia continues to grow, particularly in backend services like assembly, packaging, and testing, the region’s role in the global semiconductor supply chain will only strengthen.

What advice would you give emerging female leaders aiming for a career in STEM, especially in a traditionally male-dominated industry like semiconductors?

Female leaders’ contributions are crucial to shaping the semiconductor industry, which thrives on innovation. I would encourage emerging female leaders to embrace the power of their unique perspective and resilience, be brave in exploring their interests, and pursue their aspirations with confidence.

To support their growth, female leaders should consider building a network of mentors and allies. Every challenge one overcomes paves the way for others, and every step forward strengthens the presence of women in this field.

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Navigating the Next Evolution of the Web3 Space

As part of Echelon Philippines 2024, a panel titled ‘Navigating the Next Evolution of the Web3 Space’, moderated by Luis Buenaventura, Assistant Vice President at GCash, featured Toffer Briones, Country Managing Director at Block Dojo; Nichel Gaba, CEO and Founder of PDAX; and Beryl Li, Co-Founder of Yield Guild Games (YGG). The discussion focused on the evolving Web3 landscape, emerging trends, and expectations for the next 18 months.

The discussion highlighted the importance of expanding Web3 applications beyond traditional use cases like gaming. The panel emphasised the potential of blockchain and tokenisation to address real-world challenges, such as improving access to financial instruments and enabling the democratisation of economic opportunities. The tokenisation of real-world assets, including government bonds, was identified as a key area that could enhance financial inclusion and accessibility.

Also Read: Echelon Philippines 2024: The funding landscape for Filipino startups

Innovation in early-stage ventures was also explored, with the panel underlining the value of startups solving practical problems through blockchain technology. User experience emerged as a critical factor, with the panel agreeing that simplified and impactful applications are essential for mainstream adoption of Web3 tools and platforms.

The session closed on a forward-looking note, projecting significant advancements in decentralised models and their integration into everyday systems. With a focus on practical, user-centric approaches, the Web3 space is set to evolve rapidly, creating new opportunities for individuals and businesses alike.

This panel showcased how the ecosystem is gearing up to align technological progress with tangible societal benefits, setting the stage for its next phase of growth.

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

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Indonesia’s startup ecosystem has achieved notable success in the recently unveiled APEXE Nations Report, a collaborative study by Startup Genome and the Global Entrepreneurship Network.

Released during the G20 Social Summit in Rio de Janeiro, the report introduces a groundbreaking framework for evaluating national startup ecosystems. Known as APEXE—Aptitudes and Policies for Exponential Entrepreneurship, the framework provides a data-driven analysis that captures the interplay of innovation potential, ecosystem performance, and policy effectiveness.

According to the report, Indonesia’s performance in converting innovation potential into entrepreneurial success surpasses expectations. Ranking 13th among G20 nations in the Lab-to-Startup Conversion metric, the country demonstrates an ability to extract value from its relatively modest Innovation Potential Score of 0.60.

Meanwhile, its Startup Ecosystem Score of 0.71—an aggregate of metrics such as funding, talent, and global reach, highlighting the nation’s growing entrepreneurial dynamism.

However, Indonesia’s overall APEXE ranking sits at 15th, reflecting room for growth in policy implementation and the scale of its innovation potential. With a Policy Score of 5, Indonesia performs respectably but falls short of regional leaders such as South Korea, which boasts a Policy Score of 7.

Also Read: Startups impacted by the rise of embedded finance in Southeast Asia

A deep dive into Indonesia’s metrics

The APEXE framework evaluates startup ecosystems through several lenses. Among them, the Lab-to-Startup Conversion ranking is particularly insightful. It compares a country’s Startup Ecosystem Score against its Innovation Potential Score, revealing how effectively nations leverage their innovation capabilities. Indonesia’s relatively high conversion ranking suggests it outperforms in translating its modest innovation base into tangible entrepreneurial outcomes.

The Startup Ecosystem Score itself is multifaceted, encompassing factors such as:

Funding
Measures the availability of early-stage capital and the presence of seasoned venture capitalists.

Talent
Evaluates the ecosystem’s experience and technical expertise, such as the concentration of top developers.

Global reach
Tracks international expansion by startups.

Performance
Includes late-stage funding and the number of unicorns as indicators of ecosystem maturity.

Indonesia’s ecosystem excels particularly in global reach and performance, which underscores the country’s increasing integration into global markets.

Also Read: Geopolitical shifts have increased SEA’s appeal as a semiconductor hub: GlobalFoundries’s Siah Soh Yun

The report positions Indonesia among other Asian G20 nations, providing a comparative perspective on its strengths and challenges.

China
Ranking 7th overall, China combines a high Startup Ecosystem Score of 1.02 with an Innovation Potential Score of 0.71. Its performance benefits from significant venture capital activity and global connectivity, though its ranking is tempered by the sheer scale of its GDP and population.

India
A standout performer, India ranks 4th in APEXE. Its Startup Ecosystem Score of 1.22 far exceeds its Innovation Potential Score of 0.53, reflecting its ability to scale startups efficiently. This success is driven by a high Ecosystem Value-to-GDP ratio and multiple ecosystems ranked in global top tiers.

Japan
Despite an impressive Innovation Potential Score of 1.22, Japan ranks 12th overall, indicating challenges in converting its resources into startup success.

South Korea
Ranking 5th, South Korea excels across most metrics, with high scores in both policy and ecosystem performance.

As mentioned, Indonesia, in comparison, demonstrates promise but lags behind these regional peers in policy impact and innovation capacity. Its Policy Score, for instance, highlights gaps in mechanisms such as entrepreneur visa programmes and tax relief for early-stage investors—tools effectively leveraged by higher-ranked nations.

Also Read: One-size-fits-none: Redefining corporate communication with personalisation

On the problem of policies and the path forward

The report underscores the pivotal role of policy in shaping ecosystem success. Indonesia’s score of 5 for policy reflects progress, particularly in fostering early-stage funding and startup support programs.

However, further enhancements could significantly boost its ecosystem. These might include expanding employee stock option schemes (ESOPs), improving visa accessibility for foreign entrepreneurs, and introducing fund-of-funds initiatives to catalyse venture capital activity.

While Indonesia’s overall Innovation Potential Score remains modest, targeted investments in research and development, as well as university-industry collaboration, could elevate its standing. By bolstering foundational elements of innovation, Indonesia could not only enhance its Startup Ecosystem Score but also strengthen its competitive position regionally and globally.

Indonesia’s performance in the APEXE Nations Report highlights a startup ecosystem that is greater than the sum of its parts. Despite limited innovation resources, it has leveraged talent and funding to build a globally connected and increasingly resilient entrepreneurial landscape.

Yet, the path forward requires careful alignment of policy and innovation to sustain and amplify this growth. By addressing gaps in its policy framework and investing in the broader innovation ecosystem, Indonesia has the potential to rise further in future rankings, becoming a more dominant player in the global startup arena.

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Image Credit: Andreas Bayu on Unsplash

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Southeast Asian banks are at a critical juncture. The region’s rapid digital transformation is evident in the dramatic shift from cash to digital payments, which now account for 50 per cent of total transaction value. While urban centres race ahead with fintech innovation, areas beyond cities risk falling into a digital economic divide, unable to meaningfully participate in the digital economy despite having internet access.

With their established networks and trust, banks are uniquely positioned to bridge this digital divide — but only if they can modernise their technology infrastructure efficiently.

The evidence suggests banks achieve optimal results when they focus on their core strengths, financial services and customer relationships, while partnering with specialists for technology infrastructure. This model not only accelerates innovation but also ensures that digital banking services can be deployed cost-effectively across both metropolitan and underserved areas.

The hidden cost of fragmentation

Across Southeast Asia, traditional banks typically operate with a patchwork of systems cobbled together over decades. This fragmentation creates particular challenges in a region where cross-border transactions are commonplace and regulatory requirements vary significantly by country.

While metro customers might tolerate system inefficiencies by switching between banking channels, customers in underserved areas often abandon digital banking altogether when faced with complex, unreliable systems. The real cost isn’t just financial — it’s the missed opportunity to serve all market segments effectively.

Beyond APIs: A unified approach

The complexity of Southeast Asia’s banking ecosystem demands more than simple API integration. Success in this region requires comprehensive solutions that seamlessly address local regulatory compliance and integration with regional payment systems. Leading platforms combine APIs, SDKs, and integrated channels into one cohesive system, enabling significant reductions in time-to-market and maintenance overhead.

The unified approach enables banks to rapidly deploy scalable services that work efficiently across all markets. Banks can now launch new business models in as little as six months when partnering fintechs offering such end-to-end digital banking platforms, making it economically viable to serve previously underserved markets without compromising on features or security.

Modernisation without disruption

Banks face the challenge of transitioning from legacy systems without disrupting operations. Successful strategies may employ parallel implementation, allowing banks to maintain their core systems while gradually modernising their infrastructure. This proves particularly valuable where traditional banking services remain essential while digital adoption grows.

Also Read: How digital banking is driving financial inclusion in SEA

This modernisation imperative extends beyond systems to user experiences. Banks must cater to vastly different user needs and digital literacy levels — from sophisticated mobile-first users to those new to digital banking. Success depends on interfaces that adapt to local constraints like internet connectivity while remaining accessible regardless of technical literacy or location.

Security, compliance, and data by design

Southeast Asia’s regulatory landscape is uniquely complex, with each country maintaining distinct requirements for data localisation, privacy, and security. For example, Singapore’s Personal Data Protection Act (PDPA) allows for implied consent in some cases, while Indonesia’s PDP requires explicit, informed, purpose-specific, and recorded consent. Banks would require assistance to adapt their consent mechanisms to comply with each country’s regulations, potentially offering different consent options based on the user’s location.

Modern banking infrastructure requires embedded compliance controls and continuous monitoring that can adapt to changing compliance mandates across jurisdictions. Effective solutions should incorporate robust analytics capabilities to help banks understand and serve diverse market segments — from transaction patterns to channel preferences.

The future of banking technology in Southeast Asia

Recent innovations in the region demonstrate how unified platforms can help banks serve diverse markets efficiently. Several global banks, including Standard Chartered, have successfully implemented Banking-as-a-Service solutions, proving that traditional institutions can innovate rapidly while maintaining consistent service quality across different market segments.

As Southeast Asia’s digital banking sector expands, banks face a clear strategic choice: focus on customer relationships and market growth while leveraging unified technology platforms. This strategic shift could help unlock the region’s US$38 billion digital banking opportunity while ensuring services reach all segments of society.

The path forward for Southeast Asian banks lies in embracing comprehensive innovations that will unlock new opportunities across Southeast Asia’s burgeoning digital economy while bringing essential banking services to previously underserved communities.

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