Singapore-based customer data platform Meiro has secured US$3 million in an over-subscribed pre-Series A funding round led by Wavemaker Partners.

Several angel investors from Angel Central also joined the round.

Also Read: How to put customer experience at the heart of digital acceleration journey

Meiro, with offices in Central Europe, aims to fast-track its product development, bolster its team, and expand its presence in Europe and Southeast Asia. Additionally, it plans to enter new markets, starting with Dubai in 2024.

“We are gearing up to penetrate the hugely promising Middle Eastern market after launching our initial partnerships and securing our first clients there in late 2023,” said Pavel Bukowski, Chief Product Officer and Co-founder of Meiro.

Evolving data privacy regulations have resulted in the decreased use of third-party cookies that help brands understand customer behaviour and preferences. This trend and soaring marketing costs present a considerable challenge for brands.

Founded in 2018 by Pavel Bulowski, Jana Marlé-Zizková, and Vojtěch Kurka, Meiro’s Customer Data Platform (CDP) empowers brands to better understand customer preferences and behaviours across various touchpoints. Through Meiro, brands can use data to improve customer experience and marketing campaign performance, ultimately maximising customer satisfaction and business profitability.

Also Read: What makes a great customer experience?

Going beyond the traditional boundaries of CRM, Meiro’s platform collects, cleans, and manages data from virtually any source online and offline and provides personalised marketing tools to enhance business ROI.

“In 2024, we plan to complete the integration of additional communication channels and build GenAI use cases into our platform. We will also introduce a brand new product.

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As Artificial Intelligence (AI) becomes even more popular, companies around the world are exploring its implementation in the various aspects of business operations. For Singapore-based Helport, customer service is the area that they are looking at.

In 2018, the company said that Singapore reported four per cent growth in the contact centre outsourcing market, a number that is expected to cross US$77.7 million by 2025. Helport aims to tap into this opportunity by providing AI solutions that can reduce customer-related error rates by 60 per cent and cost efficiencies of up to 17.5 per cent for their clients.

Helport’s main offerings include the AI-Assist, which aims to improve service quality while reducing training and onboarding time. Its Helphub platform utilises AI to help manage customer relationships, business, data, and outbound calls to enable companies to scale globally.

Established in 2020, with a team of over 100 staff globally, the company has a presence in Singapore, the US, the Philippines, and China. This year, Helport has a major plan to expand in the US while maintaining its leading position in Southeast Asia (SEA).

In this interview with Helport CEO Li Guanghai, we find out more about the expansion plan and other details about the company. The following is an edited excerpt of the interview with e27:

How does your company aim to make a difference with your solutions? Why is it better than existing solutions?

Helport distinguishes itself with a three-fold approach:

Empowering Human Talent: Unlike solutions aimed at replacing humans, Helport’s AI contact centre solution focuses on improving the productivity and efficiency of customer representatives by reducing their workload and boosting their sales.

Also Read: How Transparently.AI uses Artificial Intelligence to detect accounting manipulation, fraud

Unique Technological Advantage: Helport’s technology is rooted in over a decade of direct contact centre operational experience and continuous self-improvement in AI and big data applications. This has resulted in a unique blend of over 100 business scenario knowledge bases, algorithm models, and training tools that combine business expertise and scenario know-how with advanced operations research and AI for powerful application outcomes.

This approach significantly surpasses emerging AI tech companies’ stability, applicability, and domain knowledge.

Market-Validated Products and Business Model: Helport is less than three years old but has already achieved continuous profitability and market validation. Its AI assistant product is SaaS-based, allowing for rapid and flexible deployment across various contact centres, typically going live within one to four weeks and showing performance improvements within two to three months.

Currently, nearly ten thousand contact centre agents use Helport’s AI assistant, with rapidly growing user numbers, in contrast to many AI peers still in the investment stage with unproven business models and products.

Can you tell us about your product development process?

Our technology and products originated from the founding team’s decade-plus experience in operating contact centres and their best practices, as well as the accumulation of both hardware and software capabilities development through continuous digital upgrading and exploration of AI and big data applications. After three years of refining and iterating in real customer application scenarios, we have now developed a standardised SaaS product.

Currently, our R&D efforts are driven by two main factors: customer and market needs feedback, and technological advancement. We closely monitor the latest developments in artificial intelligence, communication technology, big data technology, and operations research, invest in related R&D, and integrate these advancements into our products.

What notable milestones have you made recently? What lessons have you got from this?

Recently, we have made significant strides in enhancing our AI software capabilities, particularly in AI speech and real-time monitoring. These advancements have improved service efficiency and reduced the time and resources required for agent training.

Also Read: These Artificial Intelligence startups are proving to be industry game-changers

One key lesson we have learned is the importance of continuous improvement and adaptation to meet evolving market needs and technological advancements.

What do you think will be key to a successful AI implementation across industries in SEA?

Helport firmly believes that, especially in the B2B domain, artificial intelligence technology must be combined with industry experience, domain knowledge, and best business practices to unleash its immense commercial value and truly solve complex business problems. With its large population, diverse scenarios, and varied customer needs, SEA presents unique challenges.

The key to successful AI implementation across SEA industries is customisation and understanding local market nuances. This involves tailoring AI solutions to meet each industry’s specific needs and challenges, taking into account cultural, linguistic, and regulatory differences, and integrating this with global and local business experts. Additionally, building robust partnerships and collaborating with local entities will be crucial for gaining market acceptance and ensuring the practical applicability of AI solutions.

Can you tell us about your expansion plan to the US? How do you plan to achieve this? Any specific strategy to acquire users?

North America is the largest market for contact centre services, and it is also our target market. We have already opened our office in San Diego, California. We will accelerate our market expansion in North America through direct market development, strategic cooperation, and mergers and acquisitions. Currently, all of these are actively progressing.

What is your big plan for 2024?

In 2024, we will accelerate our development in the global market. Our business in mainland China is experiencing rapid growth in scale, and we anticipate fast development in both North America and Southeast Asia.

At the same time, as an AI technology company, we will continue to invest in technology research and development this year. We aim to optimise product features and enhance product competitiveness. Our core R&D directions include knowledge base construction technology, AI speech technology, advanced operations research algorithms, multi-channel communication, AI knowledge base production and training technology based on large language models (LLM), and so on.

Also Read: RevComm’s MiiTel, Cloud IP phone powered by artificial intelligence, is changing how businesses engage customers

One of our key R&D areas is the application of general AI. Over the past few years, the Helport team has closely followed the progress of LLM technology and was among the earliest to apply it in our R&D. We have currently made significant strides in knowledge extraction and knowledge base construction with the LLM.

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Image Credit: Helport

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Recently, the news involving cap table management startup Carta has gone viral in Silicon Valley and perhaps around the world involving the alleged trading of their customers’ shares without consent.

But what is a cap table, and how does it work? Do you need a cap table for your startup? And more importantly, do you need to sign up for a cap table management software for your company? I want to cover these questions in this article, including addressing common mistakes around cap tables that may help you better in managing your company’s equity.

Cap table 101

A capitalisation table  (‘cap table’ in short) is a document that records the ownership of a company. The cap table (usually prepared in an Excel or Google Sheets spreadsheet format)  reveals who owns what based on the equity instruments (e.g. shares, options, etc.) and also determines the value of the company.

The cap table also includes future or indicative share allocation, such as the employee shares option plan (‘ESOP’) and ongoing shareholder activity (usually as and when you complete each new funding round). 

Cap table management 

This is where it may get tricky. If you’re getting started, it may be easy to start with a cap table template online and then build it out for your company, which you can find online with all the necessary information. 

However, as you fundraise in the future, Excel-based cap table templates may not be able to keep up and scale together with your company’s funding growth, which may make managing things more difficult and complicated.  

Consequently, cap table software may help keep track of complicated ownership to keep track of the information and all the ongoing changes. On top of other complementary features that software may offer, like conducting valuation and reporting, etc., software may have other useful features that can help highlight common errors associated with manual entry on spreadsheets. These automated calculations reduce the risk of mistakes in equity distribution, valuation, and dilution calculations.

A well-managed cap table can help you manage how much you want to dilute as and when necessary, such as when you want to offer equity to selected key members or talents that may hopefully incentivise and motivate them to stay in your startup.

Register of members and cap table

As a founder, you need to distinguish the differences between the register of members and the cap table. Register of members is a statutory form kept by the company secretary that records the legal owner of the shares (usually updated subsequent to the issuance or transfer of the new shares). 

Also Read: What founders need to know about creating a cap table

In other words, while the register of members may get constantly updated by the company secretary when there is a change in the shareholding, a cap table tells you a bigger picture about the ownership. It maps out the ownership on a fully diluted basis (i.e. the total number of shares in the company that may be outstanding/issued if all possible sources of conversion (i.e. options, warrants) are exercised by the existing shareholders and other third parties). 

Beware of the misaligned shareholders’ expectations, aka ‘broken’ cap table

In the VC space, the ‘broken’ cap table is the usual phrase used when founders are found to hold a disproportionately lower percentage of ownership in comparison to the startup’s current stage or traction.

If not chosen wisely,  investors may also cause trouble, typically by being greedy and acquiring too much equity (in the 30 per cent to 40 per cent) early on, like a seed stage. It’ll be a ‘red flag’ to find founders not owning a majority stake in a company when they are presumed to bring the most value to the company. What will happen to the founders’ stake down the line as other future investors will want to fulfil their equity needs as well?   

The scenario may indicate wrong incentives or misaligned shareholder interests. It is unlikely for anyone to stay motivated to pursue the business due to the erosion of his or her long-term incentives. 

This perspective isn’t universal among all investors, but this imbalance may likely discourage financial investors like VCs from investing, rendering your startup less attractive for venture investments.  

As an investor, a cap table helps understand the ‘power dynamics’ as the ownership structure will help the investor assess what their future dilution may look like, voting rights, and control dynamics to mitigate investment risks once an investor becomes a shareholder in your company. 

Also Read: The power of financial models for startups: A guide for founders and VCs

Subject to the present shareholders’ agreement, fixing a cap table may be possible by internal restructuring, such as conducting a recapitalisation exercise. Existing shareholders may need to agree to flood the founders with warrants, options, or bonuses until the cap table is back on track. In practice, it may or may not work depending on how extensive the amount of fixing that needs to be done.

Learn the common terminologies 

As a founder, you need to know the common terminologies such as shares, warrants, options, vesting schedule, etc. The specific terms and definitions used in a cap table may vary depending on the funding stage and the funding documents, but they generally work the same irrespective of the company’s domicile. 

If you’re unsure about these terminologies, you may want to schedule a consultation with a startup lawyer to discuss more about your cap table needs. Managing a cap table can be a nightmare for first-timers and may get more complex as the company grows and takes on new investors. 

The bottom line

Deciding whether to use a cap table management software for your startup would depend on several factors: the complexity of the ownership structure (like different share classes and usage of intricate equity instruments like SAFEs and convertible notes), costs, and the expectations of the present shareholders and investors. 

If your startup has a straightforward ownership structure with a small number of shareholders, a simple Excel spreadsheet might suffice for basic cap table management (in fact, most securities lawyers I know use Excel spreadsheets). 

At the time of writing this, it is unclear if  Carta may face an exodus of its customers to other alternatives, but it would be challenging for the company to regain its confidence as a trusted service provider. 

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Despite being one of the earliest adopters of Robotic Process Automation (RPA), recent studies on RPA in Banking Finance are reporting interesting findings, particularly in the Asia Pacific (APAC) region. According to Blue Prism, based on their 2022 ‘RPA in the APAC Financial Services Sector‘ Report, RPA adoption in the APAC region’s financial services industry has been disproportionately lower than that of the rest of the world. 

While 78 per cent of financial services organisations in Australia are currently using RPA solutions and technologies, Malaysia and Singapore are far from catching up, with only 44 per cent and 28 per cent of RPA adoption, respectively. As the global Intelligent Document Processing (IDP) market is expected to reach US$6324.38 million by 2028, it becomes imperative to enhance RPA solutions to maintain a competitive edge.

This article aims to uncover the untapped potential of RPA particularly for Malaysian financial institutions and how it can revolutionise business operations in the industry.

What is RPA, and how does it work?

Robotic Process Automation (RPA) is an automation technology that mimics repetitive human tasks using rules-based processes. Unlike Artificial Intelligence (AI), RPA operates based on predefined rules and sequences without learning from data over time. While AI recognises patterns and learns, RPA follows set instructions. 

RPA finds extensive use in the banking and finance sector, where it addresses time-consuming and tedious tasks. Over a third of global RPA use cases are in financial and accounting industries. RPA streamlines processes like customer onboarding and loan processing, saving time and reducing costs. It’s essential to note that RPA has evolved to include AI processes, leading to the emergence of Intelligent Automation (IA).

Solving automation problems in banking efficiently with RPA

RPA offers significant advantages to financial institutions, enhancing their competitive edge by boosting productivity and efficiency. By automating repetitive tasks, RPA allows employees to focus on more complex and impactful responsibilities, reducing human errors in data processing by up to 90 to 100 per cent.

On top of that, RPA improves customer service by automating query resolution, reducing response times and significantly cutting costs in operations. Take the Vietnamese bank, TPBank, for instance. Implementing RPA with the help of akaBot, as seen in the case of TPBank, led to a remarkable 300 per cent return on investment (ROI) within just three years. HSBC, one of the world’s largest banking and financial services organisations, has also invested massively in RPA to streamline over 500 processes across its operations, resulting in over US$2 billion of operational savings. 

In banking and finance, RPA proves highly effective for regulatory compliance. The banking and financial industry is highly regulated with ever-changing compliance standards. The complex nature of the further complicates operational processes and lowers efficiency. In this instance, RPA serves as a valuable tool for banking and financial institutions to streamline and automate their regulatory compliance by performing the following functions:

• Repetitive compliance task automation
• Monitoring compliance in real-time
• Processes for standardising compliance
• Improving the audit trail and documentation
• Improving the accuracy and integrity of data

So why is Malaysia slower to adopt RPA?

Despite these benefits, akaBot’s findings show that 69 per cent of the organisations in the Malaysian market cite implementation costs as the most significant factor that deters them from adopting RPA solutions. Most financial institutions remain sceptical about automation and AI over hesitations on high upfront costs. On top of reservations over how efficient and cost-effective the solutions can be in the long run, these companies are also concerned about how they can accurately evaluate their ROI.

Also Read: Banking’s next chapter: How DLT is taking transactions to the future

Additionally, taking the first steps of RPA adoption comes with its own set of challenges.  As banking and finance deal with sensitive information, implementing automation solutions will need to fit within the strict rules and regulations to ensure data security. One way RPA helps with this aspect of regulatory compliance is by recording every process performed to ensure transparency for future financial audits. Furthermore, RPA solutions can help to ensure an extra layer of security by protecting sensitive financial and personal data.

Other than that, RPA adoption can also be restricted in the early phases by legacy infrastructures and complexities in process standardisation. However, these issues can only be solved by implementing automation. RPA solves the former issue by offering an integration solution to consolidate legacy systems with modern cloud-based applications and APIs. This makes it easier for the company to update its systems in the future while easing the process of data migration and reducing maintenance costs over time. 

Meanwhile, pairing RPA with Process Mining can help to automatically analyse and standardise business processes in an organisation at a fraction of the time required, eliminating another significant hurdle for organisations.

The future of RPA in Malaysia’s banking and finance sector

The RPA market in Malaysia is witnessing a significant trend of migration towards Asian-based RPA platforms.  Nearly 74 per cent of organisations across industries are either actively re-platforming or seriously considering it. This trend is driven by a wave of early adopters, as 26 per cent have already made the switch, with some opting for platform changes within specific business units. 

The reasons are compelling: Asian platforms offer cost advantages, and they come with a deeper understanding of regional nuances, making them more adaptable to local needs. Companies that have yet to implement any RPA solutions should start small and keep the investment to a minimum to avoid burning through a large sum of money in a short period.

On top of that, finding platforms like akaBot with the local workforce, supported by FPT Malaysia, helps to ensure understanding within a local context and satisfactory customer support. Exploring a double-platform approach, where one platform handles front-office tasks and another tackles back-office automation, can further optimise costs and streamline operations. 

Also Read: Gen AI in banking: How to ensure a successful transformation for an age-old industry

While initially focused on automating mundane tasks, the future lies in hybrid RPA, which empowers virtual robots with artificial intelligence (AI). This hybrid RPA, as it’s called, will unlock a new level of capabilities, enabling robots to handle more complex tasks, learn from data, and even make autonomous decisions.

For Malaysian banks, this could mean smarter loan processing, using AI to personalise financial services and more. While the full potential of AI-powered RPA is still being explored, some initial steps can be taken today. Implementing simple AI features like Intelligent Document Processing (IDP) in back-office tasks like invoice processing can significantly improve efficiency and accuracy.

Malaysian banks should approach RPA strategically, utilising process mining to map existing workflows and identify areas for improvement. This ensures automation targets the right processes, eliminating inefficiencies instead of perpetuating them. Remember, RPA is a tool, not a solution. Focus on user experience, designing robots that augment human capabilities rather than replace them. Invest in employee upskilling, data security, and compliance for a successful and sustainable RPA journey.

Leading the way with RPA

In a nutshell, the journey towards revolutionising Malaysia’s banking and finance industry with RPA requires an understanding and commitment to the transformative advantages of modern technology.

The potential rewards in terms of efficiency, time and cost savings, as well as better regulatory compliance, are only a select few of the many benefits of RPA implementation in the banking and finance industry. To find out more about RPA and how it can help your organisation, visit akabot.com for more information.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

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Global electric vehicle (EV) sales are on an upward trajectory, setting new records and sparking optimism for a greener future of transportation. Charging infrastructure is improving, and venture capital investments in the sector are defying trends.

However, as the world shifts gears towards sustainable mobility, the adoption of EVs in Asia is trailing behind. This prompts a crucial question: Is Asia prepared for this EV overhaul? To truly support Asia’s transition, it is crucial to invest in the foundational building blocks that will pave the way for accelerated EV adoption in emerging Asia.

In 2022, Asia contributed a staggering 17.96 billion tons of carbon dioxide emissions, surpassing the transportation responsible for 1.6 billion tons of carbon emissions annually. The urgency to address the environmental impact of Asia’s growing need for freight and passenger logistics cannot be overstated.

While a select few Asian markets have emerged as frontrunners in the global EV market, most others have been slower to embrace low-carbon technologies for mobility solutions. Considering Asia’s pivotal role in global trade, it is imperative to develop tailored solutions that consider the unique challenges and opportunities faced by the region.

Asia needs tailored EV solutions that factor in ground realities

Considering that Asia is projected to contribute about half of the world’s trade growth by 2030, the Asian EV sector is going to be a decisive battleground for achieving global decarbonisation. Two major factors in the transition will be utility and costs.

Also Read: Exponent Energy unlocks a zero to 100 per cent 15-min rapid charge for electric vehicles

In other words, the first phase of EV adoption in Asia is being driven by fit-for-purpose electric vehicles offering the same productivity as internal combustion engine (ICE) vehicles, with reduced total cost of ownership. Specific problems are being addressed by incorporating features such as ‘on-road charging’ to lower the demand for regular stops and the installation of new charging points to overcome key pain points for users.

Startups manufacturing fit-for-purpose electric vehicles:
In India, Euler Motors produces 3-wheel vehicles that incorporate on-road charging with special features such as a bigger battery of ~13kWh capacity and a higher range. Combined with the vehicle’s best-in-class payload, these features increase productivity and lower the cost of mobility.	In Vietnam, Selex Motors designs its own batteries with energy density four to five times higher than lead-acid batteries, enabling a long battery life span and greater travel distance. The company has also established a battery-swapping network for e-scooters.	In Thailand, ETran custom designs vehicles for crowded urban areas and narrow streets with specific turning and tilt angles. ETran also provides battery swapping for two-wheel vehicles at its power stations.

Commercial fleets are paving the way

Businesses are at the forefront of Asia’s EV transition. Commercial fleets are sensitive to the increasing price of fuel and high maintenance and operating costs of ICE vehicles. Companies in the business-to-business (B2B) space are thus being incentivised to electrify their fleet as the low operating expenditure and total cost of ownership of EVs allow for higher margin extraction.

Startups electrifying commercial fleets:
BlueSmart and Magenta in India, as well as Mober in the Philippines, are implementing different versions of the third-party logistics model using electric vehicle fleets.			Zypp Electric in India, and Blitz in Indonesia are electrifying fleets and consolidating deliveries of e-commerce companies, traditional retailers as well as courier companies, contributing to the reduction of carbon footprints.

Also Read: Thinking out loud: Are electric vehicles as sustainable as we believe?

Finance and specialisation are the emerging trends that drive adoption

Innovation is paramount for driving the uptake of green logistics and transport. Specialised companies such as those focusing on battery pack manufacturing, charging station deployment, and electric vehicle financing are emerging as key players that demonstrate crucial insights and tailored solutions to the two main challenges to EV adoption in the region: lack of easy access to charging and high upfront costs.

Startups offering specialised finance solutions and battery infrastructure:
Revfin offers finance for electric rickshaws across more than 1000 locations in tier two and three cities in India by leveraging data analytics, non-traditional underwriting methods and a tech-driven platform. Three Wheelers United is similarly offering a range of financing solutions to electric rickshaw drivers in India. Electrifi takes a more end-to-end approach by offering vehicle leasing solutions and a fully integrated software analytics platform.			For battery infrastructure, Battery Smart (India) is converting a significant number of electric rickshaws from lead acid to lithium-ion batteries by offering battery swapping services. Tiger Energy is addressing a similar challenge that hinders EV adoption in Bangladesh.

Innovative solutions are pivotal when it comes to addressing the challenges that are currently preventing more people from switching to electric vehicles. Startups embarking on this transformative journey, however, require investment to enhance production efficiency, scale operations, and improve affordability.

The evolving landscape of EV transition models within Asia promises exciting times ahead. As the market matures, we can expect a surge in innovation with insights and experiences from one influencing the other regional markets.

As Asia is being earmarked to see tremendous growth in the electric mobility sector, it is on the cusp of becoming a global EV production hub, ready to embrace a sustainable future sooner rather than later.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

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Dear reader,

The 2024 Philippine Startup Founders’ Outlook reveals a challenging funding landscape in the Philippines, with a 40% decline in local startup investments in 2023 casting a shadow.

Startup optimism, averaging 2.65 out of 5, reflects a strategic pivot toward profitability, indicating a shift in priorities amid economic uncertainties. This shift is underscored by founders recalibrating focus on profitability (70% prioritising it overgrowth) and reevaluating company valuations (average score of 2.65 out of 5).

Amid the funding winter, founders have expressed concern about the economic climate (3.40 out of 5) and government policies (2.45 out of 5) and advocated for increased investment in digital infrastructure (70%). Despite challenges, 55% anticipate profitability within one to two years, showcasing resilience.

The survey also sheds light on founders’ aspirations, with 60% eyeing international expansion, particularly in Southeast Asia. While the immediate challenges are evident, the focus on profitability and expansion signifies a proactive stance.

As the Filipino startup ecosystem grapples with short-term pressures, it displays resilience and strategic foresight, balancing growth aspirations with the current economic climate’s harsh realities.

Sainul
Editor.

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General News

Founders are pessimistic about Philippines’ funding climate in 2024: study
The necessity to ensure financial sustainability has forced founders to recalibrate their focus, underscoring profitability as a key objective.

The Parentinc acquires luxury retailer Motherswork to expand offline presence in SEA
This acquisition will enable Motherswork to expand its footprint into other countries in Southeast Asia through The Parentinc; The deal comes even as The Parentinc is preparing to launch an initial public offering.

HashKey Group secures US$100M in Series A financing, turns unicorn
HashKey’s core businesses also include a global asset manager investing exclusively in blockchain technology and digital assets, tokenisation services, and Web3 PFP incubation.

Vizzio board backs CEO despite sham doctorate
Jon Lee has admitted to lying about his Ph.D. in computer science from the University of Cambridge; A statement from the company says that Lee had informed the board about his lack of a doctor’s degree.

Prota raises US$21M led by Singapore’s SPRIM for its peanut allergy therapy
The fresh funding will be used to advance the development of Prota’s peanut allergy remission oral therapy, PRT120, which is being prepared for the phase 3 clinical investigation.

Khazanah Nasional backs Indian cloud kitchen startup Wow Momo Foods
With over 630 outlets in more than 35 cities, Wow Momo Foods plans to expand by adding 200 new outlets in the coming fiscal year; It operates three quick-service restaurant brands: Wow Momo, Wow China, and Wow Chicken.

Temasek, SeaTown invest in ABC Impact’s Fund II
ABC Impact aims to generate positive and measurable social or environmental outcomes in Asia; It invests across various sectors, including financial and digital inclusion, better health and education, climate and water solutions, and sustainable food and agriculture.

Meiro secures US$3M to take its customer data platform to Middle East
The investors include Wavemaker Partners and angels from Angel Central; Meiro collects, cleans, and manages data from virtually any source online and offline and provides personalised marketing tools to enhance business ROI.

Singapore-based agritech startup DayaTani bags US$2.3M seed money
Investors include Ascent Venture, KBI Investment, MDI Ventures, and Northstar Ventures; DayaTani works to enhance yields for Indonesian farmers, operating R&D sites across the Java island that focus on horticulture and grain crops.

Meals in Minutes bags US$1.5M from 500 Global
Meals in Minutes serves vacuum-packed, ready-to-cook meals, allowing consumers to whip up a gourmet meal within 15 minutes; It will use the money to expand in Singapore and Malaysia and establish a presence in the UK.

SG-based Web3 ad platform Linkko secures funding led by Web3 Media Ventures
Linkko uses on-chain analytics to offer “ultra-precise” targeting to advertisers; The targeted users can claim rewards for every advertisement watched, ranging from a few cents to several US dollars per ad.

Goldman Sachs-backed ZestMoney, once valued at US$450M, sold to DMI in fire sale
News about the acquisition follows ZestMoney — a BNPL player whose ability to underwrite small ticket loans to first-time internet customers attracted many high-profile investors — announcing last month that it would be shutting down the startup.

East Ventures managing partner Koh Wai Kit steps down
Koh will transition to an advisory role at the firm starting this month; Koh joined East Ventures as venture partner in 2021 before becoming a managing partner the year after; Previously, he was part of the founding team at Pavilion Capital.

Singapore drafts genAI governance framework
According to the framework, decisions made by AI should be explainable, transparent, and fair; It also provides practical guidance for developers and policymakers on their initial steps.

Sundar Pichai warns Google staff more layoffs are coming
Pichai’s memo said the company will have to make “tough choices” to meet its ambitious goals; Last week, the tech giant laid off over 1,000 workers across multiple divisions and cut 100 jobs at YouTube.

Unredacted Meta documents reveal ‘historical reluctance’ to protect children
Documents reveal that Meta not only intentionally marketed its messaging platforms to children, but also knew about the massive volume of inappropriate and sexually explicit content being shared between adults and minors.

Baidu denies report of partnership with Chinese military organisations
A report in the South China Morning Post originally said that an academy paper written by scholars at a PLA-affiliated research institute had disclosed a link with the Chinese technology giant.

Contributor Spotlight

Sapna Chadha: Navigating Southeast Asia’s tech landscape and AI trends
Explore Chadha’s insights on Google’s startup support and her personal and professional journey in the ever-evolving tech landscape.

Articles from our contributors

How burnout changes founder’s ability for risk-taking
Burnout’s like running on empty for too long; It’s emotional, physical, and mental exhaustion from constant stress; It drains your energy and makes you feel less accomplished.

Why a well managed cap table is essential for startup success
Amid Carta’s PR crisis, we’ll delve into why startups must ensure strong cap table fundamentals to avoid issues like ‘broken’ cap tables.

3 data decisions to make in 2024 for businesses to become AI-native
A business can harness the potential of AI when it has a complete understanding and control of its enterprise data across all sources.

The sweet success of authenticity in brand communication
Similar to Willy Wonka’s chocolate’s timeless appeal, authenticity in brand communication is the secret ingredient that retains consumers.

BR Tech: A next unicorn transforming the global industrial painting landscape
BR Tech is not merely selling cutting-edge simulators and robots; it is revolutionising the way SMEs approach painting and finishing.

From the archives

Fixing food waste problem means less hungry people and a great economy
In 2019, Singapore generated 744M kg of food waste, which is equivalent to 2 bowls of rice per person/day, or around 51K double-decker buses!

Angel investor Mike Flache shares his tips to begin investing in startups
Mike Flache considers himself as an investor in people, instead of tech. This is how he approaches angel investing.

What do you need to know about the eco gender gap
Eco gender gap is when solutions to tackle climate change seem to be geared only toward women. How should businesses deal with this?

How businesses can foster Diversity & Inclusion for LGBTQ+ employees
Supporting your LGBTQ+ team members can start by listening to their concerns and providing the platform to speak up.

Book Excerpt: How I survived an elevator pitch session with Tim Draper
In this book, Zopim Founder Royston Tay shares his experience pitching his startup idea to legendary investor Tim Draper.

News features and interviews

‘AI is a race for innovation; regulation will only develop effectively once winners are announced’
Sanjay Sehgal, MSys Technologies CEO, discusses privacy, AI-generated content, and the impact of legal battles on AI startups.

FlyORO soars into green skies with its sustainable aviation fuel blending solutions
Insights into FlyORO’s technology roadmap reveal a focus on modular SAF blending services, aiming for greater efficiency and substantial carbon emission reductions.

Helport aims to help customer support teams cut down on error rate
This year, Helport has a major plan to expand in the US while maintaining its leading position in Southeast Asia.

‘SEA’s agritech sector holds enormous potential as funding winter drives resilience’
500 Global Partner Saemin Ahn says SEA has the great benefit of having industry-leading business models and management teams in the field of agritech.

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X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here >>

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here>>

The post Ecosystem Roundup: Founders pessimistic about funding climate in PH; The Parentinc acquires Motherswork; SG drafts GenAI governance framework appeared first on e27.

As January 2024 unfolds, the pulse of global startup investments quickens, setting the stage for dynamic developments in Southeast Asia. The start of the year has seen a robust trend in venture capital pouring into innovative enterprises, with Southeast Asian startups taking centre-stage in this burgeoning landscape. Amidst the challenging economic backdrop, the resilience and creativity of startups in the region shine through, attracting substantial investments across diverse sectors.

Investors worldwide actively seek opportunities in disruptive technologies, sustainability-focused ventures, and Web3 initiatives, fueling a renewed optimism for the entrepreneurial ecosystem. The surge in funding signals a collective belief in the potential of Southeast Asian startups to drive innovation and address pressing challenges. As we delve into the stories of the startups securing substantial capital this week, it becomes evident that the region is a hotbed of ingenuity and entrepreneurial vigour, contributing significantly to the global narrative of startup investment in 2024.

Toki (The Philippines)

Funding raised: US$1.8M

Investors: Kaya Founders, Foxmont Capital Partners, Anthony Oundjian (BGC Philippines), Brian Cu (SariSuki), and Ernest Cu (Globe), Bigboy Cheng

Round: Pre-seed

Brief profile: Launched in November 2023 by former GCash executives, Toki is a Philippine social commerce platform dedicated to collectibles in Southeast Asia. It aims to bring a seamless experience to collectors’ journey, from discovery to purchase, and address the challenge of unsecured transactions in the market that comprise payments, logistics, and after-sales.

Since its launch, the marketplace has featured over 70,000 products across its first four categories, onboarded 100 curated sellers who rank among the top 30 sellers/resellers in their respective categories, and conducted close to 50 livestream auctions.

Bioworks (Japan)

Funding raised: Undisclosed

Investors: Purpose Venture Capital, Hill Capital, 18 Salisbury Capital, Yagi & Co,

Round: Not specified

Brief profile: Established in 2015, Bioworks is a new material creation company aiming to realise a sustainable, recycling-oriented society. It has developed PlaX, a new carbon-neutral material made from polylactic acid (PLA), a bioplastic made from sugarcane and other plant-based materials, with the addition of a plant-derived additive developed in-house by Bioworks.

PlaX presents a viable alternative to petroleum-derived synthetic fibres like polyester. It is biodegradable and compatible with chemical recycling, in which equivalent materials are reproduced from waste. It can reduce CO2 emissions by 35 per cent compared to polyester during yarn production. Emissions during incineration and disposal are also reduced.

BeWater (Global)

Funding raised: Undisclosed

Investors: OKX Ventures (lead)

Round: Not specified

Brief profile: BeWater is a Web3 venture studio and global developer platform that facilitates the development of open-innovation campaigns and events, including hackathons, in what it claims to be 10 minutes.

With over 100 campaigns underway, BeWater claims to have diverse coding languages, including Solidity, Rebase and Move, coupled with various Layer 1 chains and toolkits such as Starknet, Bitcoin and Polkadot. The company said its platform has attracted over 25,000 GitHub-certified developers from over 50 countries.

HashKey Group (Hong Kong)

Amount raised: US$100M

Investors: Undisclosed

Round: Series A

Brief profile: Established in 2018, HashKey Group is an end-to-end digital asset financial services group. With operations in Singapore and Tokyo, HashKey Group provides innovative investment opportunities and end-to-end solutions in digital assets and the Web3 ecosystem to retail investors, large institutions, family offices, funds, and professional and accredited investors.

Its core businesses also include a global asset manager investing exclusively in blockchain technology and digital assets, a blockchain node validation service, tokenisation services, Web3 PFP incubation, and community operation services.

Meiro (Singapore)

Amount raised: US$3M

Investors: Wavemaker Partners, Angel Central

Round: Pre-Series A

Brief profile: Founded in 2018 by Pavel Bulowski, Jana Marlé-Zizková, and Vojtěch Kurka, Meiro’s Customer Data Platform empowers brands better to understand customer preferences and behaviours across various touchpoints. Through Meiro, brands can use data to improve customer experience and marketing campaign performance, ultimately maximising customer satisfaction and business profitability.

Meals in Minutes (Malaysia)

Amount raised: US$1.5M

Investors: Undisclosed

Round: Seed

Brief profile: Launched in 2020 by Brandon Lim and Khiara Mia, Meals in Minutes serves vacuum-packed, ready-to-cook meals, allowing consumers to whip up a gourmet meal within 15 minutes. All meals are flash-frozen and individually portioned to reduce food wastage without genetically modified ingredients or additional artificial substances.

Prota (Singapore)

Amount raised: US$21M

Investors: SPRIM Global Investments (lead)

Round: Equity and debt

Brief profile: Founded in 2016, Prota focuses on developing and commercialising oral immunotherapy treatments for food allergies. Headquartered in Melbourne, the company owns intellectual property that includes the food immunotherapy technology developed at the MCRI.

Linkko (Singapore)

Amount raised: Undisclosed

Investors: Web3 Media Ventures (lead)

Round: Not specified

Brief profile: Established in 2023, Linkko leverages on-chain analytics to provide advertisers with precise targeting capabilities. The LinkkoAds platform introduces a novel incentive system where targeted users can claim rewards for each advertisement viewed. These rewards range from a few cents to several US dollars per ad, creating an engaging and mutually beneficial consumer experience.

Linkko’s targeting methodology is centred around public blockchain analytics, incorporating factors such as transaction type and volume, owned assets, including NFTs (Non-Fungible Tokens), and net worth. This approach generates hyper-targeted behavioural profiles, offering valuable insights to advertisers seeking more effective and personalized outreach.
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X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here >>

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here>>

The post SEA startups secure millions in funding, unveiling diverse innovations appeared first on e27.

Singapore-based private equity firm ABC Impact has announced the first close of its second impact fund.

Launched in August 2023, ABC Impact Fund II has garnered support from new and existing investors, including Temasek Trust, Temasek, SeaTown Holdings, and Mapletree Investments.

Also Read: The key to tackling climate change: Electrify shipping

Fund II Assets Under Management now exceeds US$550 million, with the final close expected in 2024.

Established in 2019, ABC Impact aims to generate positive and measurable social or environmental outcomes in Asia. Its inaugural US$300 million fund has been strategically deployed across various sectors, including financial and digital inclusion, better health and education, climate and water solutions, and sustainable food and agriculture.

Since its inception, ABC Impact Fund I has invested in 11 portfolio companies. The portfolio showcases impact-driven companies addressing environmental and societal challenges through innovative solutions.

Also Read: How climate tech companies in Asia measure the impact of their work

Last May, ABC Impact and sustainable chemical company Indorama Ventures led a £20 million Series B funding round in Polymateria Limited, a biotransformation technology company combating plastic pollution.

In 2022, the fund exited Singapore-based solar company Sunseap.

As per a study, impact investing is expected to see faster growth compared to other ESG investing approaches, with the main drivers being institutional adoption, next-generation wealth, and Asia transition progress.

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

The post Temasek, SeaTown invest in ABC Impact’s Fund II appeared first on e27.

In the world of startups, you’re expected to dance with risk like it’s a familiar partner. But, there’s a sneaky, often ignored shadow called burnout that can step on your toes, changing the way you lead this dance. It’s more than just being tired; it reshapes your worldview, messing with your decisions.

Today, let’s dive into how burnout tweaks an entrepreneur’s risk-taking moves. We’ll peek into the latest neuroscience, spot the warning signs, and talk management, merging science with real stories. This is about keeping your decision-making groove sharp, even when the music gets too loud.

Understanding burnout in entrepreneurs

Burnout’s like running on empty for too long. It’s emotional, physical, and mental exhaustion from constant stress. It drains your energy and makes you feel less accomplished. Symptoms? Think persistent tiredness, cynicism, feeling detached, and a sense of not getting anywhere.

Your brain on burnout

When burnt out, your brain’s stress response goes into overdrive. The prefrontal cortex, your decision-making HQ, gets sluggish. Neurotransmitters, which keep your mood in check, go haywire. This isn’t just feeling low; it changes your thinking style and decision-making skills.

Burnout in the entrepreneurial world

Founders, listen up! You’re in the danger zone for burnout. The thrill of innovation, high-stakes choices, and blurred lines between work and life brew the perfect stress storm. It’s a rollercoaster ride, exciting but exhausting, paving the way to burnout city.

The neuroscience of risk-taking

Risk-taking is wired in your entrepreneurial brain. It’s tied to your brain’s reward centre, especially the ventral striatum, dancing with the decision-making prefrontal cortex. Stress, however, messes with this dance. Stress hormones like cortisol can blur your decision-making vision, making you either too cautious or recklessly brave.

Burnout’s effect on risk-taking

Burnout can make you see risks differently. You might become too scared to jump on opportunities or too impulsive, skipping the usual checks. This skewed risk perception can lead to business flops, strained relationships, and a tarnished reputation. Plus, it can spiral into chronic health problems, making things worse.

Also Read: How startup leaders can delegate to prevent burnout  

The latest from neuroscience

Stress harms the brain’s decision-making areas, like the prefrontal cortex. It can blur your vision for long-term outcomes, making short-term gains look more tempting. Also, stress messes with your brain’s chemicals, leading to either too much caution or reckless choices.

Beating burnout: Strategies for founders

As a coach, I’ve seen certain tactics work wonders in fighting burnout:

• Spot the early signs: Tired all the time? Snappy? Feeling detached? Notice these early signs to stop burnout in its tracks.
• Manage stress: Prioritise, delegate, and set work-life boundaries. Try mindfulness, deep breathing, or yoga. And don’t forget to exercise; it’s a stress-buster.
• Build resilience: Adopt a growth mindset. See challenges as learning chances. And lean on your network for support and fresh perspectives.

Real stories, real impact

I’ve seen entrepreneurs turn things around by managing stress and building resilience. One client, overwhelmed by the workload, learned to prioritise and delegate, easing his stress and sharpening his decision-making. Another, scared of failure, embraced a growth mindset, leading to bold, business-boosting decisions.

Lessons to remember

• Act early: Tackle burnout signs early to avoid bigger problems.
  Balance is key: A healthy work-life balance is crucial for your decision-making skills.
• Shift your mindset: Viewing challenges differently can transform your approach to risk and stress.

Fighting burnout is not just about your health; it’s about keeping your risk-taking skills on point. By staying alert to burnout signs, understanding its brain effects, and using stress management techniques, you can maintain a sharp, balanced entrepreneurial mindset.

So, here’s to your health and success! Are you ready to change the way you dance with risk?

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The post How burnout changes founder’s ability for risk-taking appeared first on e27.

e27 has been dedicated to nurturing a supportive ecosystem for entrepreneurs since its inception. Our Contributor Program offers a platform for sharing unique insights.

As part of our ‘Contributor Spotlight’, we shine a weekly spotlight on an outstanding contributor and dive into the vastness of their knowledge and expertise.

In this episode, we feature Sapna Chadha, Google’s Vice President overseeing business growth, strategy, and operations in the Southeast and South Asia Frontier. With over 25 years of global management and marketing experience, she is a founding member of Google APAC’s Diversity, Equity, and Inclusion Council, advocating for increased representation across the company.

Chadha shares his personal and professional journey in this episode of Contributor Spotlight.

The driving force

In discussing Google’s commitment to supporting startups and the motivation behind her participation in the e27 Contributor Program, Chadha remarked:

“At Google, we have programs such as Google for Startups to connect them with the right people, products and resources while sharing best practices to help them scale. When we launched the e-Conomy SEA Report 2023 in November, there were insights that I found helpful for SEA startups, including the use of AI solutions to leapfrog competition and carve a new future in the region as it can potentially be a US$1 trillion digital economy by 2030. Moreover, I have witnessed many moments across Southeast Asia of the region’s relentless pursuit of progress, including seeing a small hospital in Thailand use AI to optimise health diagnostics. This motivated me to contribute an article about my optimism about the future of Southeast Asia.”

Thoughts, goals, and journey

Chadha credits her mother, a role model in the tech industry, for shaping her interest in data and technology. During the early days, her mother, navigating a male-dominated field, juggled coding sessions and classes while caring for Chadha. The mother’s strength, dedication, and passion became a profound source of inspiration, influencing Chadha’s aptitude for data, information and technology.

“My mother was incredibly supportive when I decided to join Google back in 2014. Looking back at my journey with the company (It’s my 10th year this year!) I’m immensely grateful for the opportunity to work alongside remarkable teams to introduce impactful products and services that have touched the lives of millions across Asia Pacific,” she expressed.

Also Read: Izwan Zakaria: Navigating legal frontiers in the startup landscape

As the Vice President for Southeast Asia and South Asia Frontier over the past year, Chadha oversees business outcomes and growth in a diverse, innovative, and growing region. Leading a region characterised by diversity, innovation, and significant growth potential, she finds it incredibly exciting to spearhead operations in Southeast Asia — a tech-forward region that has showcased remarkable resilience in navigating challenges posed by the pandemic and macroeconomic conditions.

In observing the region, Chadha notes a notable trend where digital businesses increasingly leverage technologies like AI to achieve profitability. A Google Cloud survey reveals that 8 in 10 organisations anticipate significant industry changes or transformations due to AI, reflecting the rapid adoption witnessed in 2023.

“I shared in my contributing article how we are already seeing companies using AI-powered solutions for their advertising campaigns and as part of their business strategy. I was intrigued by Fairprice Group, which is using AI to help them with forecasting workload and manpower needs at each of their retail stores. I believe more companies will start turning to similar solutions in this new year to support automation and increase productivity across industries, generating greater value and further augmenting the region’s digital growth,” she said.

Looking ahead, challenges are diverse, but Chadha remains committed to the timeless mission of universal information accessibility. With AI advancements, she focuses on developing products catering to advertisers, communities, and the broader ecosystem. Personally, she aims to strengthen Prompt Engineering, embrace more Gen AI tools, and actively contribute to the industry.

Advice for budding thought leaders

For aspiring thought leaders, her foremost advice is to stay curious, be open to alternative viewpoints, and fearlessly challenge assumptions. This approach fosters the development of unique perspectives, contributing to a healthy environment of curiosity and growth within the startup community, especially amid the constant evolution of technologies.

Also Read: Tristan Chiappini: A decade of excellence in fintech and digital payments

Juggling too many things?

From her perspective, Chadha emphasises the importance of finding equilibrium amid work and personal life demands. Balancing responsibilities doesn’t necessarily mean a strict 50-50 split, but rather adjusting and finding equilibrium over time, allowing no single aspect to dominate and overwhelm others.

Staying in the loop

In her exploration of the digital landscape, Chadha expressed:

“We’re incredibly fortunate to live in a digital world where we can get information at the tap of our fingertips, and I enjoy keeping myself updated by reading insightful articles by tech leaders, entrepreneurs and industry experts who offer different perspectives.”

Chadha turns to The Neuron, Harvard Business Review, and Benedict Evans (an independent tech analyst) as her go-to sources for insights into AI trends and tools.

In her role as a business leader, Chadha finds value in listening to podcasts like The Verge’s Decoder, participating as a judge in industry thought leadership and awards and serving on boards to broaden her perspectives beyond internal work.

“What I’ve learned in my career is that growth happens when we avoid getting comfortable. I see careers as a jungle gym instead of ladders. I’ve been in roles where I had wondered if it was the right fit. When I took on the role of Chief of Staff earlier in my career, I had assumed that being behind the scenes may not fit me. But looking back, it was one of the jobs that I excelled in, and the experience really helped me to grow. It challenged my thinking and gave me access to executives who played an influential role in grooming my leadership style to date. So, I would always advise others to actively influence how your journey is and not just wait to be asked for the next thing,” she concludes.

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Are you ready to join a vibrant community of entrepreneurs and industry experts? Do you have insights, experiences, and knowledge to share?

Join the e27 Contributor Programme and become a valuable voice in our ecosystem. 

The post Sapna Chadha: Navigating Southeast Asia’s tech landscape and AI trends appeared first on e27.