Dear reader,
Soul Parking’s latest funding round underscores the growing importance of smart infrastructure in tackling Indonesia’s urban challenges. With its focus on innovative parking solutions, the startup is not just addressing the perennial issue of space scarcity but also aligning with broader trends such as electrification and sustainable urban development.
The company’s Compact Motorcycle Storage and cloud-based Soul Parking Operating System highlight a forward-thinking approach to optimising limited resources. The ability to increase parking capacity up to eightfold in densely populated areas could be transformative, especially in cities like Jakarta, where congestion and illegal parking remain pressing issues.
Furthermore, the strategic pivot towards electric vehicle (EV) infrastructure is a savvy move. As EV adoption accelerates, establishing parking facilities as multi-functional hubs with charging or battery-swapping capabilities positions Soul Parking as a key enabler of Indonesia’s green mobility transition.
However, the startup’s success will depend on its ability to scale operations effectively while maintaining service quality. Partnerships with property owners and EV industry stakeholders will be crucial, as will public awareness campaigns to drive adoption of its cashless, tech-enabled offerings.
By merging technology, sustainability, and practicality, Soul Parking exemplifies the type of innovation needed to future-proof urban infrastructure in Southeast Asia’s rapidly growing cities.
Sainul,
Editor.
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NEWS & VIEWS
Soul Parking raises Series A+ funding to expand and explore opportunities in EV space
The investors include AC Ventures, AppWorks, Taiwan Mobile, and Wavemaker | The parking tech startup says its vertical parking system, along with real-time tracking, optimises land use and enhances parking efficiency.
Crypto investments hit US$44B record net inflows in 2024
The start of 2025 looks promising with US$585M in net inflows so far, though the last week of 2024 experienced US$75M in outflows | The approval and launch of US spot Bitcoin and Ethereum ETFs were pivotal in 2024, contributing US$44.4M in inflows.
Z Venture Capital launches US$190.8M fund for global tech growth
ZVC Fund II will focus on high-growth industries, including its parent Line Yahoo Corp’s core sectors of media, commerce, fintech, and AI, along with emerging deeptech fields such as space technology and robotics.
GoTo CEO Patrick Walujo commits to stay until 2029
Under Walujo’s leadership, GoTo has seen improvements in financial performance | In Q3 2024, its core gross transaction value rose by 74% y-o-y to US$4.4B.
Alibaba buys back US$1.3B in shares, focuses on core business
The transactions occurred in the US market as part of the firm’s ongoing share repurchase programme | The e-commerce company disclosed that it spent US$9.9B on stock buybacks during the six months ending Sept. 30, 2024.
Indian SaaS startups funding rebounds to US$2.1B in 2024
According to the Indian Tech Startup Funding Report 2024, this rebound comes after funding dropped to US$1.6B in 2023, returning to 2019 levels | The number of deals increased modestly, rising by 5% y-o-y to a total of 207.
India’s e-commerce funding declines 42% in 2024
This comes as India’s broader startup ecosystem saw US$12N raised in the same year, which increased by 20% | D2C startups dominated with US$840M, followed by B2C at US$492M and B2B at US$127M.
OpenAI forecasts US$5B loss as US$200 ChatGPT Pro struggles
These challenges arise from operational expenses, including staffing, office costs, and AI infrastructure | Operating ChatGPT at peak usage costs around US$700K daily.
Vietnam to fund half of US$118M in semiconductor, AI sectors
Developers must allocate US$39M within three years of investment approval, and projects should positively impact the innovation ecosystem | The funding also extends to other high-tech initiatives – including talent training, infrastructure, and production.
OpenAI is turning its attention to ‘superintelligence’
Superintelligent tools could massively accelerate scientific discovery and innovation well beyond what we are capable of doing on our own and, in turn, massively increase abundance and prosperity, says CEO Sam Altman.
FEATURES & INTERVIEWS
The future is virtual: Inside 17LIVE’s plans for avatars and immersive experiences
The rise in virtual live streaming can be attributed to technological advancements, particularly in AR and VR, says 17LIVE’s Jiang Honghui.
Can Southeast Asia really pull off an EV revolution?
The nascent state of the EV sector means adoption rates will inevitably shift with technological, regulatory, and social developments | But for SEA to achieve its EV goals, further investments in infra and affordable alternatives are essential.
FROM THE ARCHIVES
Half of Indonesia’s financial institutions plan to deploy GenAI for everyday tasks
About 44% of local leaders acknowledge GenAI’s potential to revolutionise risk assessment in microlending via analytical models.
Mastering legal nuances: How Bering Lab balances AI and human expertise
While Gen AI tools have been getting much attention, customers quickly realize there’s no one-size-fits-all solution, says Bering Lab co-founder.
YouApp, the app that helps users find their match using AI and astrology.
This amalgamation of ancient wisdom and contemporary psychology enables YouApp to deliver compatibility predictions in seconds, sparing users the time-consuming task of manual evaluation.
Crypto-AI startups making waves in Asia: The future is here
Asia is emerging as a hub for crypto-AI innovation, where AI and blockchain are merging to create new possibilities and transform industries | Countries like Singapore, South Korea, and China have embraced the potential of blockchain and AI.
Envisioning the future: The critical challenges and opportunities of AI investment
Successful AI investment needs capital, tech expertise, a sharp eye for innovation, and a strong AI community network | Investment decisions in AI are made only when there is consensus on the startup’s potential.
The new era of computing: Single board computers for home automation and AI
Single-board computers (SBCs) are shifting from industrial use to mainstream hobbyist applications in home automation, personal servers, and AI.
Filling the leadership gap: Why you cannot delegate responsibility
Peter Drucker, the modern-day Aristotle for the business community, argues that management lacks power but only wields responsibility | He was right in pointing out that leaders must demonstrate responsible behaviour for their subordinates and themselves.
Is a career in biotech right for you?
You might imagine your life in biotech in a lab, working by yourself all day | But the truth is that many projects in biotech require teamwork, including operations, production, marketing, and R&D.
THOUGHT LEADERSHIP
How AI makes investing and trading safer and more accessible
By making investing safer and more approachable, AI is helping to democratise access to wealth-building opportunities for a broader audience across various levels of expertise.
Low-code and no-code website builders: Do we still need developers to craft the ‘perfect’ websites?
Unlike no-code platforms, low-code solutions offer greater flexibility | They combine drag-and-drop simplicity with the ability to write custom code, enabling developers to build scalable, feature-rich websites without starting from scratch.
Why antivirus won’t save us in 2025: Indonesian companies, wake up!
Antivirus was a lifesaver in the early 2000s when threats were simpler: file-infecting viruses, worms, and spyware | But today’s hackers have moved on | They’re armed with AI, automation, and a new playbook of tricks.
Navigating fintech innovation: The role of regulatory sandboxes in APAC
Sandboxes allow businesses to experiment with their new products, services, or business models | This gives them the ability to test things out in the real world under the supervision of regulatory authorities for a limited period of time.
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