Echelon Startup Pitch

The Echelon Philippines 2024 Startup Pitching Competition brought together 15 groundbreaking startups, each presenting innovative solutions to pressing challenges. This event not only highlighted the entrepreneurial spirit but also offered a platform for startups to gain feedback, connect with industry leaders, and explore investment opportunities.

Among the standouts was BuildIt, which aims to streamline construction supply procurement, promising up to 10 per cent in cost savings. Baybayin Hub targeted the digital nomad market with remote work-friendly accommodations, while Polka.PH presented a unique employee engagement platform combining instalment payment options with rewards. Coden AI showcased how artificial intelligence could accelerate app development, and XELEQT A.I. provided real-time insights for optimising field operations.

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

Healthcare and logistics also took centre stage. SeeYouDoc offers a robust telemedicine platform already serving 40,000 patients through 127 providers, while MedsGo focuses on enhancing medication delivery. Flying Tigers Express proposed inter-island delivery solutions, and SolX Technologies Inc. introduced energy efficiency tools that have already achieved US$29 million in cost savings.

The competition also highlighted transformative solutions in education, employment, and outsourcing. SkoolTek by EdFolio has streamlined school operations for 38 institutions, generating US$360,000 in revenue, while PasaJob leverages referral networks for job placements. Remotify builds remote teams, capturing a slice of the US$1.6 billion Philippine outsourcing market.

With groundbreaking pitches from these and other startups, Echelon Philippines 2024 reaffirmed its role as a launchpad for disruptive technologies and innovative solutions, promising a brighter future for the Philippine startup ecosystem.

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

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The surge in generative AI (GenAI) technology across the globe has sparked a new frontier of innovation, and Southeast Asia is no exception. While the region races to harness the potential of GenAI, the startup ecosystem faces unique challenges and opportunities in securing the necessary funding to fuel growth. 

The ASEAN GenAI Startup Report 2024 provides a comprehensive overview of the current funding landscape, exploring why now is an opportune time for venture capital (VC) engagement and strategic investments.

Current funding landscape in ASEAN

Despite a global downturn in startup funding, GenAI stands out as a beacon of potential within SEA. According to the report, while the overall investment has cooled, specific attention is being paid to the burgeoning field of GenAI due to its disruptive capabilities and broad application potential across industries. The current funding stage for GenAI startups is predominantly early—angel, pre-seed, and seed stages—indicating a nascent field ripe for investment opportunities.

Singapore continues to lead in funding, followed by Indonesia and Vietnam, highlighting a disparity in the distribution of capital that favors more established startup ecosystems. This distribution underscores the need for a more inclusive approach to funding that can fuel innovation across all SEA countries.

Challenges in the ASEAN funding landscape

The funding landscape in SEA is fraught with challenges that stem from both external economic conditions and internal ecosystem dynamics. High interest rates and a cautious investment climate have led to tightened capital flows, particularly for early-stage startups that offer high risk but also high potential returns. 

Additionally, the region faces a scarcity of later-stage funding, which is crucial for scaling startups to full commercialisation and profitability.

Also Read: Navigating the go-to-market challenge: Helping ASEAN GenAI startups succeed

The report highlights a muted exit market as a significant deterrent to investors. Few IPOs and mergers and acquisitions activity make it difficult for investors to see a clear path to profitability, thus hesitating to place big bets on SEA’s GenAI startups.

Opportunities for venture capital and strategic investments

Despite these challenges, the GenAI sector in SEA presents unique opportunities that savvy investors are beginning to recognise. The technology’s transformative potential across various sectors—from healthcare and finance to education and logistics—promises long-term gains that can outweigh the current economic uncertainties.

• Innovative applications: GenAI’s ability to drive innovation in traditional industries presents opportunities for VCs to fund startups that are developing unique solutions tailored to SEA’s diverse market needs.
• Government initiatives: Many SEA governments are launching initiatives to support the digital economy, including grants, tax incentives, and co-funding opportunities. These initiatives can mitigate some of the risks associated with investing in GenAI startups.
• Rising demand for AI solutions: As businesses and consumers increasingly rely on AI-driven solutions, the demand for GenAI applications continues to grow, ensuring a market for new innovations that can scale rapidly with the right funding and guidance.

The case for ASEAN GenAI startups

The case for investing in SEA’s GenAI startups is strong. The region offers a rapidly growing digital market with increasing internet penetration, a youthful population adept at adopting new technologies, and a growing number of skilled professionals in the tech sector. Moreover, SEA’s strategic geographic location serves as a gateway to both the Eastern and Western markets.

However, to truly capitalise on these opportunities, investors need to adopt a nuanced approach that considers the unique characteristics of the SEA’s market. This includes understanding local consumer behaviour, navigating varied regulatory landscapes, and supporting startups in achieving product-market fit in diverse environments.

Investing in SEA’s GenAI startups offers a promising avenue for VCs and strategic investors looking to capitalise on the next wave of technological innovation. While the path is fraught with challenges, the potential rewards are considerable. The region’s unique position as a burgeoning hub for digital innovation, combined with the transformative impact of GenAI technologies, provides a compelling case for increased investment.

For investors, the time to act is now. By engaging with and supporting SEA’s GenAI ecosystem, they cannot only yield significant returns but also play a pivotal role in shaping the future of technology in the region and beyond. As the GenAI landscape evolves, those who invest wisely will likely find themselves at the forefront of a new era of digital and economic growth in Southeast Asia.

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This article is the fifth in a series from the ASEAN GenAI Startup Report 2024. GenAI Fund invests in early-stage GenAI startups across Southeast Asia, focusing on growth strategies and exit opportunities. Stay updated with new articles in this series by subscribing and following us on our channels. For more articles, visit: https://e27.co/category/reports/.

The post Investing in the future: Unpacking SEA’s GenAI startup funding environment appeared first on e27.

Dear reader,

South Korea’s AI landscape is a dynamic fusion of cutting-edge technology and robust investment, underscoring its emergence as a global AI powerhouse. From AI accelerators to NLP-driven platforms, startups such as Rebellions, Wrtn Technologies, and DeepX exemplify the country’s innovative spirit. These ventures are not just redefining AI’s potential but also driving economic growth through technological excellence and global partnerships.

The government’s strategic focus on AI, including significant investments like the Yongin Semiconductor Cluster, complements the efforts of industry giants like Naver and Kakao, creating a nurturing ecosystem for startups. These firms benefit from South Korea’s unmatched semiconductor expertise, positioning them as indispensable players in the global AI supply chain.

What sets South Korea apart is its ability to balance innovation with collaboration. Partnerships with international entities like NVIDIA, Google Cloud, and OpenAI amplify local advancements, pushing the boundaries of what AI can achieve.

Additionally, diverse applications—from AI processors in autonomous vehicles to AI-enabled legal translations—showcase the versatility of these startups.

As South Korea continues to blend technological prowess with visionary policymaking, its AI startups are evidently not just participants but leaders in shaping the future of artificial intelligence on a global stage.

Sainul,
Editor.

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NEWS & VIEWS

Doctor Anywhere trims 8.1% workforce across Southeast Asia
The move is believed to have affected dozens of employees; The company has operations across Singapore, Malaysia, Thailand, Indonesia, Vietnam and the Philippines.

Zomato faces US$95 million India tax bill
The tax demand specifically relates to non-payment of goods and services tax (GST) on delivery charges, a matter that may have broader implications for India’s fast-growing food delivery sector.

CarDekho SEA lands US$60M funding for regional expansion
The investors include Navis Capital Partners and Dragon Fund; CarDekho SEA provides a range of services, including used car financing and refinancing options, dealer inventory funding, and classifieds.

Singaporean fintech firm KAST secures US$10M in seed round
The lead investors are HongShan Capital Group and Peak XV Partners; KAST offers payment cards and USD-denominated accounts to people in over 150 countries, the ability to receive and send cash, working with partners such as Bridge.

Omni HR raises US$7.4M to simplify multi-country workforce management
The investors are Picus Capital, Alpha JWC Ventures, January Capital, and Ratio Ventures; Omni HR provides a unified, data-driven workspace for teams to automate HR tasks, manage teams, and handle multi-country payroll from a single platform.

Singapore’s Cove nets US$4.5M to scale co-living in South Korea, Japan
The investors include Eurazeo, Keppel, and Manchharam; Cove offers furnished homes and flexible co-living spaces across major cities in Asia and has close to 6,000 rooms under management.

Jumppoint bags US$3.5M to streamline logistics for e-commerce in SEA
The investors include MindWorks Capital, IMM Global, Headline Asia, and the Hong Kong Government; By optimising routing and resource allocation with AI algorithms, Jumppoint claims to achieve over 50% cost savings and 40% faster deliveries.

Malaysia launches national AI office for policy, regulation
The Southeast Asian country has secured billions of dollars in investment in the past year from global tech firms seeking to build critical infrastructure to cater to growing demand for their cloud and AI services.

US asks court to reject TikTok’s bid to stave off law that could ban the app
The Justice Department said the court should not delay the law’s effective date arguing “continued Chinese control of the TikTok application poses a continuing threat to national security.”

FEATURES & INTERVIEWS

Rebellions to Weavel: Unveiling South Korea’s most promising AI ventures
South Korea’s vibrant AI ecosystem, bolstered by government support and robust international collaborations, has made it a hotspot for innovation.

Funding the green transition: Southeast Asia’s climate tech leaders of 2024
In this feature, we spotlight the region’s notable climate tech startups that raised substantial funding rounds in 2024.

Echelon Philippines 2024: Driving innovation in Philippine healthcare beyond telehealth
The Echelon Philippines panel highlighted opportunities in Philippine healthcare, showcasing the impact of innovative approaches.

Big Tech and ASEAN startups: Navigating the friend-foe dynamic in the GenAI era
The evolving relationship between ASEAN startups and Big Tech highlights the concept of “co-opetition”—a blend of competition and collaboration.

What AWS has in store for SEA startups to support their innovation
At the recent AWS re:Invent 2024 conference, AWS announced its allocation of US$1 billion in Activate Credits for global startups in 2025.

FROM THE ARCHIVES

TWG Tea’s founder on how a luxury food brand can tap third party digital marketplaces to expand business
As an established brand, TWG Tea learns that it can continue to register significant online sales growth — as long as it stays nimble.

Improving food safety in SEA with tracking and tracing technologies
Manufacturers are confronted with issues of food supply chain transparency as they need to meet safety standards and earn customer trust and loyalty.

How small and medium-sized restaurants in Taiwan leveraged digital tools to survive
The need for restaurants to streamline in-house ordering websites and manage multiple platforms efficiently emerged strongly post-pandemic.

How my startup enables homemakers to make 2x the minimum wage in Jakarta
Dishserve is a network for ghost kitchens helping F&B brands reach customers faster and more efficiently. But this is how we are different.

What new digital solutions mean for Indonesia’s F&B sector
Indonesia’s digital F&B has been growing rapidly at a CAGR of 38.2 per cent. However, competition appears to have reached a state of oligopoly.

AI infrastructure: The unsung hero of technological innovation
While AI’s applications and ethics dominate discussions, the crucial infrastructure powering its development remains a silent force shaping our future.

How product growth helps both you and your users succeed
When a customer becomes an advocate, they not only maximise product use but also foster a community of advocates, promoting it to others.

Founders, stop listening to mentors who tell you to build an MVP
Only if you understand the concept well, your space, and your competition can you decide what your MVP should constitute.

Is AI the end of originality or a new dawn for creativity?
The future of creativity extends beyond adapting to AI; it’s about riding the wave to unlock new imaginative dimensions.

Friction vs value: The key to engaging users in immersive experiences
Uncover the balance between the benefits and friction of immersive experiences across various tech and insights for effective project design.

How small businesses can boost brand visibility via videos and messaging
With Meta platforms and products such as video and messaging, small businesses around the world are becoming more visible in their communities.

Why the ‘Downfall’ of Boeing is a big lesson on diversity for all of us
If we were not biased towards Indonesia’s Lion Air, we might have caught the default in Boeing 737 Max earlier, and avoided the second crash.

Big wins for small businesses: Supercharging growth with online content
A playful approach to producing content via online content platforms will provide success for SMBs in engaging consumers.

How to use email sequences to win more B2B sales deals
By embracing email sequences as part of your sales strategy you are going to save yourself more time to work on things that actually matter.

Web3’s Coca-Cola moment: Tapping into incentive design to catalyse better ad experiences
We can expect to see more users onboard to Web3, generating more demand, which creates a positive flywheel effect for web3 advertising.

A marketing map to the world beyond third-party cookies
While cookies have been the bedrock on which online advertising is built, its phasing out should be welcome news to advertisers.

THOUGHT LEADERSHIP

Harnessing AI for robust backup and disaster recovery
With AI, organisations can ensure their data is securely backed up, protected against evolving cyber threats, and recoverable during disasters.

B2B payments: The emerging battleground for Asian banks
The opportunity for B2B payments in Asia-Pacific is huge, and financial institutions must move swiftly to capitalise on it.

How to eliminate cyber threats with an all-in-one solution
Kaspersky’s essential tools and extensive threat detection network protect organisations worldwide from growing cyber threats.

Is the future of AI decentralised? Cloud computing holds the key
The varying stages of blockchain and AI development across APAC countries present a unique landscape for collaboration.

Southeast Asia’s digital future: Blockchain, AI, and sovereign clouds
A sovereign cloud ensures localised data governance, control, and security under strict jurisdictional oversight.

Is job hopping a new form of career mobility?
Millennials and Gen Z are increasingly pursuing career growth through job hopping over traditional internal development within a single organisation.

How to use AI to reduce startup employee turnover
Workforce turnover is costly and disruptive, so boosting retention is crucial to improving your startup’s chances of success.

The post Ecosystem Roundup: South Korea’s most promising AI startups | Layoffs at Doctor Anywhere | CarDekho SEA raises US$60M appeared first on e27.

Over the past three years, e27’s collaboration with Prudence Foundation has focused on the SAFE STEPS D-Tech Awards. It is a platform dedicated to recognizing and supporting startups with innovative technologies. These technologies mitigate the impact of natural disasters, prevent them, or expedite recovery efforts. This ongoing partnership highlights the importance of fostering innovation to address the growing challenges posed by climate-related crises.

Building on this foundation, the SAFE STEPS D-Tech Community Hub was launched this year in partnership with Prudence Foundation. It benefited from the support of strategic allies such as e27, the International Federation of Red Cross and Red Crescent Societies (IFRC), and Amazon Web Services (AWS). Looking ahead, e27 is proud to announce its involvement in organising the D-Tech Awards 2025. This continues the mission of empowering technology-driven solutions for disaster risk reduction.

Advancing the disaster technology system supported by e27 

As SAFE STEPS D-Tech initiative’s strategic partner, e27 is carrying out key responsibilities to advance the disaster technology ecosystem. These include building a global community through the SAFE STEPS D-Tech Community Hub. Through it, diverse stakeholders can come together to discover, create, sustain, and scale innovative disaster technology solutions. e27 also facilitates introductions between potential partners and startups within the hub, fostering meaningful collaborations.

Additionally, e27 is developing a comprehensive global repository for disaster technology solutions. This platform serves as a central platform for related news, resources, events, and programs. To amplify awareness, e27 is creating a series of content spotlighting the hub, the D-Tech Repository, and SAFE STEPS D-Tech’s presence at the Echelon Asia Summit 2024. And this partnership with Prudence Foundation is set to continue. Notably, e27 is leading the organization of the next SAFE STEPS D-Tech Awards in 2025. Through these efforts, e27 helps community members access a robust directory of disaster tech solution providers.

Also read: Shaping disaster resilience in APAC through innovation with D-Tech Spotlight

ICYMI: e27 and Prudence Foundation’s collaboration in 2024

In 2024, e27 spearheaded a series of impactful initiatives to foster innovation and collaboration in the disaster technology ecosystem. The year began with a virtual launch on 26 March, featuring a keynote by Sanjay Srivastava from UNESCAP. This featured contributions from industry leaders like Jaron Lim of Wateroam and Brian Eyler of the Stimson Center. This event set the stage for global engagement, emphasizing the importance of partnerships in scaling disaster tech solutions. A workshop held on 19 June, themed “General Partnerships Towards Scaling Reach & Operations in Asia,” attracted over 60 stakeholders worldwide. It resulted in valuable discussions on extending the reach of disaster technology solutions.

Later in the year, e27 hosted two specialized sessions to deepen collaboration. It hosted an exclusive webinar on 23 September, titled “Partnerships for Impact: Strategies for Successful Collaboration in the D-Tech Space.” It featured Matthew Cua from Help.NGO, who provided practical insights on building effective partnerships. On 10 October, it held a roundtable session titled, “Scaling Up – Strategies for Growth and Funding in the D-Tech Sector.” The exclusive event featured expert guidance from Francis Simisim of E88 Ventures. These initiatives collectively strengthened the global disaster tech community, enabling stakeholders to share knowledge, forge partnerships, and drive innovation.

e27 supporting the disaster tech ecosystem through D-Tech Spotlight

On 27 November, Prudence Foundation, supported by e27, brought together innovators, industry leaders, and passionate advocates in a virtual forum. D-Tech Spotlight: Disaster Resilience via Technology, held last 27 November, showcased what technology can do to mitigate disasters. Central to the event were 13 innovative startups revolutionising this space. Joining them were Amazon Web Services (AWS), the United Nations Office for Disaster Risk Reduction (UNDRR), and other key organizations.

One clear takeaway was the growing importance of collaboration across sectors to drive change in disaster preparedness. The presence of both private and public organisations underscored why unified efforts can improve disaster resilience. Together, NGOs, startups, and governments reflect the growing recognition that unified efforts are key. This cross-sector collaboration not only strengthens disaster management but also promotes long-term resilience. Ultimately, more lives are saved and economic and social impacts are minimised.

Towards a resilient future: e27 supporting the D-Tech ecosystem

The SAFE STEPS D-Tech Community Hub has cultivated a thriving ecosystem of over 100 members, including startups, NGOs, investors, and policymakers. This vibrant network fosters collaboration and innovation in disaster technology, enabling stakeholders to share ideas, pool resources, and form impactful partnerships. A cornerstone of the hub’s efforts is its global repository, a central platform for disaster tech news, resources, and events. Startups have also benefited from access to high-impact activities like webinars, workshops, and showcases, gaining visibility and connecting with key partners to scale solutions for underserved regions.

Key events such as the Echelon X pavilion showcase, D-Tech Spotlight, and SAFE STEPS D-Tech Awards have further propelled the disaster tech ecosystem into the spotlight. Echelon, in particular, has served as a dynamic platform for startups to present innovative solutions to a global audience and engage with influential stakeholders. These efforts, combined with the hub’s emphasis on thought leadership and content creation, have reinforced a collective commitment to advancing disaster resilience worldwide. Through these initiatives, the hub continues to drive meaningful progress in tackling global disaster challenges.

Also read: Can Southeast Asia’s climate tech heroes bridge the gap between profit and planet?

The collaboration continues: SAFE STEPS D-Tech Awards

Looking ahead, the SAFE STEPS D-Tech Awards 2025 promises to continue its legacy of uncovering and promoting transformative solutions that save lives, protect communities, and expedite recovery in the aftermath of disasters. This initiative aligns seamlessly with e27’s mission to empower startups and drive meaningful innovation across Southeast Asia and beyond. The in-person finals will take place at Echelon 2025, a key gathering for tech innovators and entrepreneurs hosted by e27, on 11 June 2025.

Through its robust platform, e27 enables community members to access a comprehensive global directory of disaster tech providers. As a result, it bridges the gap between innovative solutions and the organizations, governments, and NGOs that need them most. By showcasing groundbreaking innovations and fostering collaboration, e27 enhances disaster risk management and preparedness efforts on a global scale. The SAFE STEPS D-Tech Awards 2025 is set to further leverage this platform, creating opportunities for startups to shine while reinforcing a collective commitment to building resilient communities worldwide.

Want to join the D-Tech Community Hub? Sign up here!

Also read: Living in the age of disasters: How global partnerships are shaping D-Tech

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This article is produced by the e27 team

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Reach out to us here to get started.

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Singapore-based Eureka Robotics has raised US$10.5 million in Series A financing.

B Capital spearheaded the round. New investors Airbus Ventures, Maruka Corporation, and G. K. Goh Ventures participated along with existing investors UTEC and ATEQ.

Eureka Robotics was founded in 2018 to enable factories worldwide to automate dull, dirty, and dangerous tasks. The company leverages its proprietary technologies, which include high-accuracy calibration, computer vision, motion planning, and force control.

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

Its flagship products are the Eureka Controller and the Eureka 3D Camera.

Eureka Controller offers a comprehensive solution for vision and robotics applications. Its capabilities include high-precision calibration and robust force control, allowing it to serve as a central hub for connecting and managing various industrial devices.

Meanwhile, the Eureka 3D Camera is engineered to equip robotic systems with efficient and cost-effective 3D vision capabilities. Its innovative, AI-driven, projector-free 3D reconstruction technology makes this possible.

By integrating these products, system integrators and manufacturers can deploy high-accuracy—high-agility (HA-HA) applications encompassing picking, object recognition, and inspection within factories and warehouses. This empowers robots to execute tasks with enhanced precision.

Its solutions are commonly used in AI-based inspection, precision handling, 3D picking, assembly, and dispensing. To date, it claims to have executed over 25 million HA-HA operations in factories around the globe.

The company will use the Series A funding to propel the development and implementation of the Eureka Controller and Eureka 3D Camera.

Beyond product development, the funding will fuel Eureka Robotics’s expansion strategies. The company aims to solidify its presence in existing markets like Singapore and Japan while making a full-fledged entry into the US market, where it has already secured initial customers.

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

In Japan, Eureka intends to extend its operational reach to other key Japanese cities, such as Nagoya and Osaka.

The firm also has an office in Vietnam.

Its client roster includes esteemed names like Toyota, Denso, Bridgestone, Mitsui Fudosan, Sumitomo Bakelite, Pratt & Whitney, and Coherent.

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