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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Singapore-based flexible living platform Cove has announced a US$4.5 million funding round from existing investors, including Eurazeo and Keppel, along with Manchharam.

The capital will fuel the startup’s regional expansion and transition to an asset acquisition model. This strategic shift will allow it to design and develop properties specifically tailored to the needs of its target market: young professionals and students.

Cove’s expansion into South Korea and Japan is already underway, and the company has formed strategic joint ventures in both markets.

In Japan, the partnership with a leading real estate platform will provide access to a vast network and streamline the acquisition of building supplies. In South Korea, the collaboration with Honors, a prominent asset management company, will leverage their real estate networks and financing expertise. The first flagship property in Seoul is expected to launch by Q1 2025.

Also Read: How Dash Living built a social media community of 13K+ members for its co-living platform across Singapore, HK

Founded in 2018, Cove provides flexible, affordable, and community-driven rental housing solutions. Combining innovative technology with a tenant-first approach, Cove offers furnished homes and flexible co-living spaces across Asia Pacific’s major cities, simplifying the rental process for the next generation of urbanites. It has a presence in four countries and close to 6,000 rooms under management.

Cove aims to more than double its portfolio to 15,000 units by the end of 2025.

The startup has appointed real estate veteran Ashish Manchharam, founder and managing partner of Elevate Capital, as a board advisor to guide this new growth phase. Manchharam has previously built 8M Real Estate into a successful platform with a US$1.5 (US$1.12) billion portfolio.

Manchharam’s role will focus on assisting Cove in fundraising efforts, establishing strategic partnerships with institutional landlords, and driving the asset acquisition strategy. This expertise will be crucial as Cove moves away from its previous asset-light model, which primarily involved operating as a branded asset operator and online listing platform.

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2024 has been a landmark year for climate tech in Southeast Asia, with startups raising significant venture capital to address the region’s pressing environmental challenges.

As countries within ASEAN strive to meet their sustainability targets, innovative ventures are stepping up with solutions spanning renewable energy and carbon markets. Investment in climate tech has grown considerably, with the sector seeing increased interest from both specialised and generalist funds.

Early-stage investments remain dominant, but several climate tech ventures have crossed the milestone of securing growth-stage funding, underscoring the maturing ecosystem.

In this feature, we spotlight the region’s notable climate tech startups that raised substantial funding rounds in 2024.

RWDC Industries

RWDC offers a biopolymer material solution. It offers Solon, a sustainable material that replaces petroleum-based, single-use plastics. It has developed a technology to harvest the outputs of a microbial fermentation process using plant-based oils that produce naturally occurring biodegradable polymers. Products offered using Solon polymer are drinking straws, coffee cups and lids, plastic bags, and food containers.

Headquarters: Singapore
Founding year: 2015
Funding raised in 2024: Undisclosed
Total funding: US$263.1 million
Investors: Lummus Technology, Vickers Venture Partners, Temasek, CPV, Optimas Capital,
FootPrint Coalition, Flint Hills Resources, Eversource, WI Harper Group, International EU, and The Liveability Challenge.

ION Mobility

The company is involved in the design and development of electric motorbikes that include features like a TFT display, an integrated battery pack, and a keyless start.

Also Read: Some lessons on how to fulfil the climate tech promise

Headquarters: Singapore
Founding year: 2019
Funding raised in 2024: US$2.5 million
Total funding: US$31.3 million
Investors: TVS Motor Company, TNB Aura, Quest Ventures, Monk’s Hill Ventures, Village Global, GDP Venture, AC Ventures, SEEDS Capital, 500 Global, AngelCentral, kipleX,
Plug and Play Tech Center, and Aura Ventures.

Climate Impact X

Climate Impact X is an AI—and blockchain-based platform for buying and selling carbon credits. It provides carbon credits through the protection and restoration of forests, wetlands, and mangroves. The climate tech firm allows companies to buy carbon credits to offset their carbon footprint.

Headquarters: Singapore
Founding year: 2021
Funding raised in 2024: US$22.3 million
Total funding: US$22.3 million
Headquarters: Singapore
Investors: Mizuho Financial Group, Standard Chartered, DBS Bank, SGX, and GenZero.

Dat Bike

It manufactures electric motorbikes. The company develops Weaver model electric motorbike with features like a lithium-ion battery, 80 km/h speed range, and hydraulic braking system. It also provides a mobile to connect to the motorbike.

Headquarters: Vietnam
Founding year: 2018
Funding raised in 2024: US$1.5 million
Total funding: US$17.4 million
Investors: Skystar Capital, Urban Gateway, Kopital Ventures, Jungle Ventures, GSR Ventures, Innoven Capital, Delivery Hero Ventures, Wavemaker Partners, Wavemaker Impact, iSeed, and Hustle Fund.

Also Read: As the demand for energy soars, climate tech is here to save the day

VFlow Tech

It is a provider of vanadium-based energy storage systems, which use vanadium redox flow technology. These systems’ applications include renewable energy storage, grid energy storage, and power backup for commercial buildings.

Headquarters: Singapore
Founding year: 2018
Funding raised in 2024: Undisclosed
Total funding: US$13 million
Investors: PSA International, Real Tech Holdings, Sing Fuels, Pappas Capital, Carbon Zero Capital, İnci Holding, Wavemaker Impact, SEEDS Capital, Entrepreneur First, TK & Partners, and STI.

Amperesand

The climate tech startup provides a solid-state transformer. Each module contains silicon carbide (SiC) devices and proprietary high-frequency transformers. It allows for application-specific scaling.

Headquarters: Singapore
Founding year: 2023
Funding raised in 2024: US$12.5 million
Total funding: US$12.5 million
Investors: Xora Innovation, Material Impact, TDK Ventures, and Foothill Ventures.

Mober Technologies

Mober provides electric fleet-based last-mile delivery services. The platform offers technology-driven logistics services with shipping, AI-optimised route planning, booking solutions, and more. It provides a tracking feature that allows users to track and monitor the delivery progress in real-time.
Headquarters: The Philippines
Headquarters: 2016
Funding raised in 2024: US$6 million
Total funding: US$10 million
Investors: Clime Capital Management, Rtheptagonholdings, 2GO Group, and Index Partners.

Charge+

A cloud-based platform offering electric vehicle charging solutions. It offers chargers and cloud-based software for managing EV charging. This platform serves residential, industrial, and fleet customers and provides charging as a service and platform as a service solution.

Also Read: Who’s still investing? The 2024 power players in Southeast Asia’s venture capital

Headquarters: Singapore
Founding year: 2018
Funding raised in 2024: US$8 million
Total funding: US$8 million
Investors: TNB Aura and TRIVE.

Pyxis

A provider of electric-based maritime solutions. It develops electric harbour crafts. The mission is to harness the power of electricity to create zero-emission maritime transportation solutions.

Headquarters: Singapore
Founding year: 2022
Funding raised in 2024: US$3.4 million
Total funding: US$3.4 million
Investors: Shift4Good, SEEDS Capital, MarImpact, ShipsFocus, Tiansan, and Motion Ventures.

Thryve

Thryve provides carbon projects and forest management services. Its platform unites multiple stakeholders to develop high-quality nature-based carbon projects.

Headquarters: Singapore
Founding year: 2022
Funding raised in 2024: US$2.6 million
Total funding: US$3.4 million
Investors: Open space Ventures and Capital Code.

Jejak

An online platform for calculating, analysing, monitoring, and surfing for other carbon projects.

Headquarters: Indonesia
Founding year: 2018
Funding raised in 2024: US$2.7 million
Total funding: US$2.7 million
Investors: ITM, Indogen Capital, Aurum Ventures, SMDV, East Ventures, Asia Ventura, and Digitaraya.

PowerPod

An EV charging network with a decentralised structure. It uses the blockchain to create a decentralised mobility energy network, offering access to a shared EV charging network, peer-to-peer energy trading, and rewards for sustainable practices. Powerpod also allows you to find the closest charger nearby.

Also Read: Driving innovation for a sustainable future: Top climate tech investments of H1 2024

Headquarters: Singapore
Founding year: 2022
Funding raised in 2024: US$1 million
Total funding: US$1 million
Investors: Waterdrip Capital, IoTeX, FutureMoney Group, JDI, Future3 Campus, and WAGMI Ventures.

Refy Cap

An online lending platform offering green financing. Refy Cap offers a platform that enables users to apply and get funded for green asset projects through factoring solutions. It enables capital partners and project developers to access funding for green projects.

Headquarters: Singapore
Founding year: 2023
Funding raised in 2024: US$525000
Investor: Wavemaker Impact.

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Image Credit: 123RF.

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At the recent AWS re:Invent 2024 conference in Las Vegas, Amazon Web Services (AWS) made several announcements about its latest product innovation for customers worldwide. However, for the global startup ecosystem, the most intriguing one might be the company’s allocation of US$1 billion in Activate Credits for startups in 2025.

In an interview with e27, Tiffany Bloomquist, Asia-Pacific and Japan Head of Startups, AWS, revealed how the company plans to continue supporting the startup ecosystem with the initiative. As an initiative that has been around for a while, Activate Credits enable startup customers to realise their ideas before they secure VC funding.

“How do we help those in the early stages—while they are finding their way—to get them to the best solution to meet their full potential? We are deeply committed to finding ways that startups can experiment and potentially disrupt industries. There are massive amounts of change that we think is coming and has been coming with AI, and startups are the ones to move the fastest,” she says.

“Startups are passionate about a particular customer outcome, and they look at ways that they can achieve that faster and in different ways. They tend to be some of the first to adopt to experiment.”

Bloomquist further explains that startup customers often require support from AWS, as their cloud platform provider, for their go-to-market initiatives.

Also Read: Big Tech and ASEAN startups: Navigating the friend-foe dynamic in the GenAI era

“Once startups have had enough successful wins and references in their home market, they are finally ready to expand to international markets. But, where do you start?” she says.

“So, our job is to meet with them and help them understand the qualities that make them ready for an international market, the type of product, and how it fits into that market. We also help them choose which ones might be next. Often, we see people want to immediately jump to the US because it is a large market with many opportunities. Still, sometimes you need to skip that for a neighbouring ASEAN country or a market similar to the one you are operating in.”

To ease these steps, AWS already has platforms and toolsets, like its marketplace or partner programmes, which allow startups to interact with potential customers already in the AWS network.

“Our goal is to figure out the best way for these startups to connect with each other and into the ecosystem so they can continue to grow in the countries where they operate. We also need to evaluate what it means to scale long term and into international markets over time?”

Also Read: Funding the green transition: Southeast Asia’s climate tech leaders of 2024

To reach out to these startups, AWS set up several different activities, such as the Unicorn Tank startup competition. The company’s business development team also works closely with the investor and VC communities, allowing them to see the array of solutions that AWS offers for their portfolio companies. According to Bloomquist, this helps to create awareness in the community.

Lastly, she shares the most exciting innovation that Southeast Asian (SEA) companies have come up with.

“There is a focus in ASEAN on building culturally aware, Large Language Models that acknowledge the diversity that exists in the region and helps to leverage the latest technology.”

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Lead Image Credit: AWS

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Cyber-attacks are becoming more sophisticated, making strong online security more important than ever. And yet, many businesses, like small and medium enterprises (SMEs), remain unprepared. With limited resources and expertise, SMEs often become easy prey for ransomware. Enterprise-level organisations are not safe either. They are exposed to cyber threats as more remote teams access sensitive data through various networks.

The stakes have never been higher. For small businesses, a single data breach could mean downtime. This may result in added costs, regulatory fines, or even closure. For larger organisations, one compromised account can make them lose thousands of customers. This is why partnering with a reliable cybersecurity expert is essential. And it’s not just about preventing breaches! It’s also about building resilience in an ever-changing digital world.

How to solve cybersecurity challenges

A comprehensive cybersecurity strategy, like Kaspersky Premium, protects businesses in several key areas. These include security, performance, privacy, identity, and home Wi-Fi networks. Together, these measures ensure robust digital protection.

First, security tools stop threats before they escalate. This first line of defence includes antivirus software and vulnerability scans. Second, recovery options help organisations restore systems after incidents. Third, performance tools help keep those systems efficient. They do this by keeping apps up to date, saving battery life, and maintaining hard drive health. 

In addition, privacy tools secure sensitive information. This includes tools like data leak checkers and file shredders. Identity safeguards like secure digital wallets prevent fraud. Meanwhile, smart home and Wi-Fi monitoring tools ensure stable, safe connections across devices. These features combine to form a robust defence system. They protect organisations from cyber threats while keeping operations efficient. This holistic strategy ensures businesses stay secure and adaptable in a digital-first world.

Also read: Understanding cybersecurity threats: What you need to know to stay safe

Kaspersky Premium’s mission to eliminate cyberthreats

Kaspersky Premium delivers a powerful one-stop solution to address all cybersecurity challenges. Its single system integrates many aspects necessary for consumers. This includes security, performance optimisation, privacy protection, identity management, and home Wi-Fi monitoring. This all-in-one approach helps businesses protect their digital assets. It also ensures smooth systems performance and efficient operations.

Can Kaspersky be trusted? Absolutely. Kaspersky is a global leader in cybersecurity. Founded in 1997, they help protect businesses, governments, and individuals from digital threats. Kaspersky uses advanced security solutions that safeguard different devices and platforms. It stays ahead of cyber threats with reliable expertise and constant innovation. This gives users strong, trustworthy protection worldwide. As a result, it creates a safer digital world for all.

The importance of an extensive threat detection network

Kaspersky has built one of the most extensive threat detection networks in the world. This enables it to identify and respond to potential security risks in real-time. Businesses can secure their data by detecting malware and phishing attacks. These and other cyber threats are resolved before they can cause harm.

For example, the identity protection tools continuously watch and secure user credentials. As a result, unauthorised access is blocked and fraud is prevented. Further, its smart home security tools constantly protect businesses. It does this by monitoring Wi-Fi networks and connected devices. With this holistic approach, Kaspersky strengthens the digital infrastructure of organisations.

Also read: Cybersecurity in Asia: Trending toward a safer digital future

Leveraging Kaspersky’s premium support services

You might ask, “Is Kaspersky safe to use?” The answer to this is a resounding yes. On top of its comprehensive suite of solutions, Kaspersky provides premium support services. Kaspersky aims to provide enhanced customer experience and ensure optimal protection. As such, its priority support line offers reliable help for any security issues. It also offers expert remote installation services. This lets you install and customise Kaspersky applications according to your specific needs.

Kaspersky’s remote IT services offer expert guidance to resolve product-related issues. Its virus check and removal service ensures complete malware cleanup on your devices. Plus, Kaspersky’s PC Health Check Services maintains good device performance. These services work together to ensure your systems stay secure and function right.

Why Kaspersky makes sense for all businesses

Kaspersky provides a comprehensive, all-in-one cybersecurity solution. Its multi-layered approach covers core security needs like antivirus and malware protection. It also addresses privacy, performance, identity protection, and smart home security. Unlike many competitors, Kaspersky combines strong protection with premium support services. These include expert virus removal, remote IT support, and PC health checks. Kaspersky’s tailored, full-spectrum solution is a great choice for today’s online challenges.

Should I buy Kaspersky? If you want to protect your organisation with one solution, contact Kaspersky today. Jumpstart your journey towards a stronger, more reliable cybersecurity system with Kaspersky Premium.

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This article is produced by the e27 team, sponsored by Kaspersky

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.

Featured Image Credit: Brooke Cagle on Unsplash

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For the longest time, owning the consumer payments space has been Asian banks’ key focus

However, the shift is likely to change in favour of the under-serviced B2B payment segment and right now banks are coming up short in their offering.

The need for banks to lift their B2B payments game is being driven by three trends.

First, consumers’ use of digital wallets has reached an inflexion, where more than 50 per cent of purchases are now being transacted using digital wallets for the first time. This requires consumer-facing businesses to adapt. Second and related, these businesses — especially at the smaller end — are expecting more from their payment providers for their wider operational needs, such as virtual accounts. Finally, increasing consumer banking regulation is heating up (including consumer card interchange) in a way that isn’t affecting the B2B space.

B2B payments are at a tipping point for banks

Taken together, it’s a space that’s ripe for growth but the competitive pressure and opportunity on banks to offer real-time and flexible B2B payment solutions has never been more immense, and financial institutions that prioritise B2B payments can grab hold of new market share.

For example, in Japan, trillions of dollars of B2B transactions occur annually, yet only two per cent are processed through card-based systems. This stark untapped potential of card products in the corporate space has created a race among Japanese banks to launch platforms to better serve their clients. A trend that is now spreading throughout the Asia-Pacific region, where traditional payment systems are lagging far behind the needs of modern businesses.

Of course, Japan is a unique case study; the interest rates are going up and not down. For the first time in 20 years, they moved out of negative interest rate territory this year.

Conversely, those that fail to embrace change risk being left behind. Studies have already shown that one in five retail customers globally have left their bank due to inadequate digital services, and corporates are likely to follow the same pattern.

Also Read: The future of payments in SEA: Regional cooperation remains critical in pushing for progress

This is not an entirely new challenge, but the stakes are now higher than ever. As global economic uncertainties subside, businesses are feeling more confident in looking further afield in choosing their financial services partners, particularly as nimble entrants with digital licenses cash in on the opportunity to fix the unmet needs of businesses with modern, efficient payment solutions.

Making the move

Global payment giants like Visa and Mastercard are providing strong incentives for banks to adopt and offer B2B solutions. Banks in key markets including Thailand, Indonesia, Hong Kong, and Singapore are exploring these options to stay competitive.

This leaves Asia’s banking sector at an interesting juncture.

The quandary for banks in recent years has been balancing the reliability of legacy systems with the hyper customisation that their customers demand, including those in the B2B space.

However, the solution doesn’t have to be a binary choice between the retention of stable but unsuited legacy or a courageous IT overhaul.

Instead, a middle ground can be forged where technology infrastructure is updated incrementally to enable building on existing strengths while introducing modern platforms that work seamlessly with legacy systems.

Embedding

Beyond updating their technology infrastructure, banks must also focus on integrating their services within the ecosystems that their clients use.

Embedded finance, which is expected to account for up to 15 per cent of bank revenues by 2030, offers a pathway for banks to plug their services directly into the platforms their business clients are already using. By embedding financial services within these distribution networks, banks can tap into new revenue streams and provide greater value to their corporate customers.

Also Read: Southeast Asia’s fintech evolution: Embedded finance, CFO Tools, and collaborative infrastructure

This approach is already gaining traction in several markets across the region. Forward-thinking institutions are positioning themselves to offer Cards-as-a-Service and other embedded financial products to meet the evolving needs of their corporate clients. By enabling these seamless financial integrations, banks are not only improving the user experience but also opening substantial new business opportunities.

The time for action is now. Asia’s banking sector is at an inflection point where the adoption of modern platforms and a focus on B2B payments will determine its future competitiveness. Banks that embrace these changes will find themselves well-positioned to thrive in an increasingly digital economy, while those that cling to outdated systems risk being overtaken by more agile, tech-savvy competitors.

The opportunity for B2B payments in Asia-Pacific is huge, and financial institutions must move swiftly to capitalise on it. The future of banking in the region will be defined by digitalisation, personalisation, and embedded finance. For banks across Asia, the message is clear: adapt to the changing landscape or risk falling behind.

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Driving Innovation in Philippine Healthcare: Opportunities Beyond Telehealth

At Echelon Philippines 2024, the panel ‘Driving Innovation in Philippine Healthcare: Opportunities Beyond Telehealth’ explored the evolving healthcare landscape, focusing on digital health platforms, medical devices, and personalised medicine.

Moderated by Amanda Cua, Founder and CEO of BackScoop, the session featured insights from Hamilton Angluben, Founder and CEO at Kwik.insure; Jessica de Mesa-Lim, CEO and Co-Founder at Kindred Health Inc.; and Arvind Appavu, Deputy Managing Director at Pulse 63 Healthcare Ventures.

The panelists highlighted the transformative role of technology in democratising healthcare access and improving patient outcomes in the Philippines.

Also Read: Echelon Philippines 2024: Sabrina Tan on Lhoopa’s mission to make housing accessible

Angluben shared Kwik.insure’s efforts to provide affordable HMO plans, noting that 40 per cent of their subscribers were first-time users of health insurance. Lim discussed Kindred Health’s focus on women’s health through a combination of telemedicine and physical clinics, citing the achievement of administering 8,000 HPV vaccinations in a year.

Appavu emphasised the importance of smaller, accessible solutions in making healthcare equitable. The discussion also underscored how innovations in drug delivery systems, preventive healthcare solutions, and digital platforms are addressing gaps in the healthcare system.

The speakers agreed on the potential for technology to make healthcare more affordable and accessible, particularly for underserved communities. They encouraged startups to focus on building scalable, impactful solutions that meet the evolving needs of patients.

This panel provided a glimpse into the opportunities within the Philippine healthcare sector, showcasing how innovative approaches can drive meaningful change and improve health outcomes nationwide.

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

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Hong Kong-based cross-border e-commerce logistics startup Jumppoint has secured an additional US$3.5 million in Series A+ funding, bringing its total funding to US$20 million.

The news round was led by returning investor MindWorks Capital, with participation from other investors, including IMM Global, Headline Asia, the Hong Kong Government, Beyond Ventures, Chinachem Group, and Boon Ventures.

Also Read: Beyond 3PL: BBTruck’s 5PL solution for a smarter, greener global supply chain

The funding will be used to scale Jumppoint’s AI-driven logistics platform, expand its regional network, and enhance its service offerings. This strategic allocation aims to drive the company towards profitability in the near future and solidify its presence in Southeast Asia’s rapidly evolving logistics landscape.

Jumppoint aims to tackle the fragmentation, high costs, and complexity that plague Southeast Asia’s logistics landscape. Traditional logistics giants have often prioritised Western markets, leaving a gap in efficient and affordable solutions for intra-Asia and China-to-Southeast Asia trade lanes. Jumppoint steps in to fill this void with its technology-driven platform that connects drivers, warehouses, airlines, and customs brokers into a seamless ecosystem.

The startup offers a 48-hour end-to-end logistics network that “significantly” reduces costs and improves efficiency for e-commerce merchants. By optimising routing and resource allocation with AI algorithms, Jumppoint claims to achieve over 50 per cent cost savings and 40 per cent faster deliveries. Its integrated operations streamline customs, order tracking, and delivery processes, simplifying supply chain management for businesses.

The company boasts a network spanning 192 countries and has served over 6,000 businesses, ranging from independent e-commerce sellers to large-scale merchants.

Also Read: How express delivery services can become a key differentiator for e-commerce businesses

Southeast Asia, home to 675 million people, presents a lucrative opportunity for e-commerce merchants. However, navigating the region’s logistical hurdles requires innovative solutions like those provided by Jumppoint. CEO Samson Ho believes that Jumppoint is well-equipped to capitalise on this burgeoning market: “By combining AI-driven technology with an asset-light model, we’re enabling merchants to overcome regional logistics challenges and unlock Southeast Asia’s immense consumer potential. This latest funding positions Jumppoint to continue scaling while advancing toward profitability, setting the stage for long-term success in the cross-border logistics market.”

With the global cross-border e-commerce market projected to grow at a CAGR of 25.4 per cent through 2030, Jumppoint appears poised to play a pivotal role in facilitating seamless and efficient trade within Southeast Asia and beyond.

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As ASEAN’s generative AI (GenAI) ecosystem evolves, startups are finding themselves both empowered and challenged by Big Tech. On one hand, tech giants like Amazon Web Services (AWS), Microsoft, and Google provide critical infrastructure, tools, and funding. 

On the other hand, these companies are increasingly becoming competitors, rolling out their own AI-driven solutions. This duality creates a dynamic where startups must carefully balance collaboration and competition to thrive in a rapidly changing landscape.

The role of Big Tech in ASEAN’s GenAI ecosystem

Big Tech companies have been instrumental in enabling the growth of GenAI startups across ASEAN. Cloud platforms such as AWS, Google Cloud, and Microsoft Azure provide the foundational infrastructure that powers the majority of GenAI applications.

According to the ASEAN GenAI Startup Report 2024, 67 per cent of startups in the region use AWS, 47 per cent use Google Cloud, and 41 per cent rely on Microsoft Azure. These platforms offer startups access to GPU resources, advanced AI models, and global distribution networks.

Foundation model providers, including OpenAI, Anthropic, and Meta, also play a key role. Startups leverage their pre-trained models—such as OpenAI’s GPT and Meta’s Llama—to build and fine-tune AI solutions for specific use cases. These models enable startups to develop applications rapidly without the need to build foundational AI capabilities from scratch.

Big Tech has further supported the ecosystem through accelerator programs, funding initiatives, and technical mentorship. Programs like the AWS GenAI Accelerator and Google AI Accelerator provide startups with cloud credits, marketing opportunities, and connections to enterprise clients. These initiatives not only reduce the cost of innovation but also enhance startups’ visibility in the market.

The competitive threat of Big Tech

While Big Tech’s contributions are significant, they also pose challenges to startups, particularly in the form of competition. These companies can quickly integrate AI capabilities into their own products, targeting the same enterprise customers as startups.

For instance, Microsoft’s integration of OpenAI’s GPT into its suite of productivity tools creates direct competition for startups offering similar solutions. Similarly, AWS and Google Cloud are increasingly bundling AI-powered tools into their platforms, which can undermine startups that rely on these providers’ infrastructure while competing for the same market segments.

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

Moreover, startups that act as “wrappers” around foundation models—offering solutions that build on existing AI models with customised user interfaces or workflows—are especially vulnerable. As foundation models improve and expand their functionalities, startups risk being “steamrolled” by the very providers they depend on.

Despite these challenges, startups can mitigate risks by differentiating themselves through niche applications, fine-tuned models, and unique user experiences. For example, Vietnam’s Mesolitica and Thailand’s Botnoi Group have successfully built localised and specialised AI solutions that cater to unique regional needs, reducing direct competition with Big Tech.

Strategies for balancing collaboration and competition

ASEAN startups must adopt strategic approaches to leverage Big Tech’s resources while safeguarding their market position.

Leverage partnerships for growth

Startups can benefit from Big Tech partnerships to accelerate product development, gain market access, and enhance credibility. Many cloud providers and foundation model developers actively seek collaboration with startups to showcase their platforms’ capabilities.

Programs like the AWS Marketplace enable startups to onboard their solutions into enterprise ecosystems, bypassing lengthy procurement processes. Startups such as Malaysia’s Mesolitica and Vietnam’s Pixel ML have used these partnerships to secure proof-of-concept (POC) deals and scale their operations.

Adopt open-source and hybrid models

To reduce dependency on proprietary models, startups are increasingly turning to open-source alternatives like Meta’s Llama and Hugging Face. These models provide greater flexibility and allow startups to build proprietary solutions that are less vulnerable to direct competition.

For instance, Vietnam’s AI Hay and Thailand’s Typhoon are leveraging open-source models to create localised AI solutions optimised for their respective markets. This approach not only enhances differentiation but also reduces reliance on external providers.

Focus on niche applications

Specialising in niche markets or industry-specific solutions is another way for startups to navigate the competitive landscape. By addressing unique problems that require localised knowledge or custom datasets, startups can create value that Big Tech’s generalised solutions cannot match.

Also Read: From innovation to impact: Key sectors driving GenAI adoption in ASEAN

The path forward: Co-opetition in the GenAI ecosystem

The evolving relationship between ASEAN startups and Big Tech highlights the concept of “co-opetition”—a blend of competition and collaboration. While Big Tech provides essential resources and partnerships, startups must proactively manage the risks of over-reliance and direct competition.

Governments and ecosystem enablers can also play a role in balancing this dynamic. Policies that support startup innovation promote open-source adoption, and foster collaboration between enterprises and startups can help level the playing field.

For ASEAN startups, success in the GenAI era will depend on their ability to build defensible positions through differentiation, leverage partnerships effectively, and innovate faster than their larger competitors. By embracing the opportunities Big Tech offers while mitigating the risks, startups can navigate the complexities of the GenAI ecosystem and emerge as leaders in the region.

In the end, the key to thriving in this dual landscape lies in viewing Big Tech not just as a competitor but as an essential partner in driving innovation and scaling impact.

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This article is the fourth 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/.

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