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.

The post Ecosystem Roundup: Crypto investments hit US$44B record net inflows in 2024 | Soul Parking raises Series A+ | OpenAI is turning its attention to ‘superintelligence’ appeared first on e27.

Southeast Asia’s startup ecosystem experienced a varied funding landscape in December 2024, with a total of US$210 million raised across 15 rounds, as per the latest report by Tracxn.

While this figure represents a 44.59 per cent increase compared to the previous month (November 2024), it also marks a 142.21 per cent decrease compared to the same month last year (December 2023).

Also Read: Healthtech, edutech dominated SEA’s funding scene in past 5 years: Tracxn

This indicates a fluctuating investment environment in the region.

Key trends:

Overall funding: Total funding reached US$210 million in December 2024, distributed across 15 rounds.

Month-on-month growth: There was a substantial increase in funding from November 2024 (44.59 per cent ), suggesting a recovery in investment activity towards the end of the year.

Year-on-year decline: Despite the month-on-month growth, funding was significantly lower compared to December 2023, with a 142.21 per cent decrease. This highlights a possible overall slowdown in yearly investment.

Active VC firms: Several venture capital firms were active during the month, including Inspire, B Capital, Picus Capital, and Mitsubishi UFJ Capital.

Notable deals: Kamereo and Eureka Robotics secured funding rounds, with Kamereo attracting investment from Mitsubishi UFJ Capital.

Also Read: 2024 fintech highlights: The startups dominating Southeast Asia’s financial landscape

Analysis: The data reveals a complex picture of Southeast Asia’s startup funding. While the increase in funding from the previous month offers a positive sign, the significant drop compared to last year points to a larger trend of reduced investment in the region. December 2023 has been a powerful month by comparison. The presence of active VCs such as Inspire, B Capital, Picus Capital, and Mitsubishi UFJ Capital suggests ongoing confidence in specific startups and sectors.

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Data courtesy: Tracxn

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The partnership between e27 and MoEngage stands as a testament to the power of collaboration in fostering technological innovation and strengthening the startup ecosystem. As a trusted program partner, e27 played an instrumental role in amplifying MoEngage’s mission to empower businesses with advanced customer engagement strategies. Through targeted outreach and strategic initiatives, e27 helped MoEngage connect with a broader audience of industry leaders, innovators, and decision-makers. This reinforces the shared vision of driving digital transformation in the region.

MoEngage has long prided itself on empowering startups and enterprise companies to drive meaningful customer engagement and achieve sustainable growth. Beyond offering scalable marketing automation and engagement solutions, MoEngage actively supports the ecosystem through initiatives such as its #GROWTH community. This initiative features mentorship, live workshops, and cohort-based learning programs like the Customer Engagement Learning Program (CELP). It is designed to enhance expertise in mobile marketing, analytics, and engagement strategies.

At the core of the collaboration between e27 and MoEngage was the MoEngage Growth Summit 2022. It was an invite-only conference crafted to inspire marketing and product leaders from consumer brands. This summit provided a platform for exchanging ideas, networking, and learning from industry veterans who are setting new benchmarks for growth and engagement in a digital-first world. Together, e27 and MoEngage successfully showcased the transformative potential of innovation, creating a thriving ecosystem for both startups and established businesses.

Read also: e27 and Meta partner to inspire youth-led e-waste solutions in Singapore with YEAP

Amplifying awareness: e27’s support for Growth Summit 2022

To ensure the MoEngage Growth Summit 2022 reached its intended audience, e27 conducted a comprehensive media campaign. It leveraged its extensive platform and trusted reputation within the startup ecosystem. e27 worked strategically to amplify awareness about the invite-only event. It also ensured it captured the attention of industry leaders, innovators, and decision-makers.

One key aspect of this effort was the announcement bar featured prominently on e27’s website. It served as a constant reminder of the event for site visitors. Complementing this was a series of newsletter promotions. These utilized e27’s established communication channels to directly reach a targeted audience of marketing and product professionals. Additionally, sidebar widget placements on high-traffic pages of the e27 platform provided consistent visibility. This reinforced the event’s presence across the site.

These initiatives formed the backbone of e27’s media campaign, successfully raising awareness and driving engagement for the Growth Summit 2022. The collaborative effort highlighted the strength of the partnership and its ability to create impactful outcomes for MoEngage and its audience.

#GROWTH Summit 2022: Connecting leaders and driving engagement

MoEngage Growth Summit 2022 was tailored for marketing and product professionals from leading consumer brands. It was designed to foster knowledge sharing and inspire innovation. The summit provided a platform for top industry leaders to share their growth stories, strategies, and experiences. With a focus on actionable insights and innovative approaches to customer engagement, the summit equipped attendees with practical solutions to address critical challenges in engagement and retention within a digital-first landscape.

A key factor in the summit’s success was MoEngage’s collaboration with e27, which played a vital role in elevating the event’s impact. MoEngage Senior Marketing Director Baradhwaj R highlighted the significance of this partnership: “At MoEngage, we partner with the best of the best to provide a great learning scope to our community of startups and enterprise brands, and e27 has definitely been one of those partners.” By leveraging e27’s expertise and extensive network, MoEngage was able to broaden its reach and connect with marketers and product owners across industries in the SEA region.

The invite-only format ensured an environment rich with high-quality discussions and meaningful interactions among thought leaders. With e27’s support, MoEngage successfully engaged top industry veterans and speakers, adding tremendous value for attendees. Baradhwaj noted, “This not only helped us further our mission and vision of adding maximum value to our #GROWTH community members but also provided them with great networking opportunities to learn and implement those learnings in their day-to-day activities.”

By creating a space for networking, knowledge sharing, and collaboration, the Growth Summit 2022 underscored MoEngage’s mission to drive growth and innovation while setting new benchmarks in customer engagement. Together, MoEngage and e27 showcased the transformative potential of partnerships in fostering meaningful connections and actionable outcomes for professionals in the digital-first world.

Empowering platforms: e27’s broader role in ecosystem development

As a leading platform for startup and innovation ecosystems, e27 plays a crucial role in supporting companies like MoEngage that specialize in customer engagement platforms. By leveraging its extensive network and media assets, e27 helps these companies amplify their reach. It also empowers them to connect with their target audience, and highlight their solutions to pressing industry challenges. This partnership with MoEngage for the Growth Summit 2022 is a prime example of e27’s commitment to empowering platforms that drive innovation and provide value to businesses navigating the complexities of a digital-first world.

Collaborations like these are pivotal in building a stronger startup ecosystem. By connecting innovators with opportunities, resources, and communities of decision-makers, e27 fosters an environment where ideas can thrive and scale. Such partnerships do not only elevate individual companies but also create a ripple effect. They also strengthen the broader ecosystem by enabling knowledge sharing, fostering connections, and driving progress across industries. Through its ongoing efforts, e27 reaffirms its dedication to supporting innovation and ensuring the success of ecosystem players like MoEngage.

Read also: Google Cloud and e27 collaborate to shape the tech ecosystem

Looking ahead: Building on success and driving future innovation

Over time, MoEngage has aided in accelerating 500+ startups by onboarding over 120 VC partners. They have also enabled more than 20 Soonicorns and Unicorns. Their community initiatives go above and beyond to provide marketers and product owners with access to a revolutionary customer data and engagement platform. This platform is equipped with state-of-the-art marketing automation functionalities. They aim to support the ecosystem with tailored customer support in local time zones. They also provide the opportunity to learn from 10,000+ like-minded members. Further, they have cohort-wise onboarding, adoption, and retention workshops, and networking with founders through in-person meet-ups and mixers.

Following the success of the Growth Summit 2022, MoEngage is committed to expanding its initiatives to empower businesses in their growth journeys. It plans to introduce more targeted events, thought leadership content, and innovative solutions. In doing so, MoEngage aims to address emerging challenges in customer engagement and retention while fostering a culture of innovation. It is also building on the insights and connections forged during the summit. MoEngage seeks to strengthen its role as a trusted partner for consumer brands navigating the ever-evolving digital landscape.

e27 remains steadfast in its commitment to supporting innovation and the startup ecosystem. It acts as a bridge between transformative platforms like MoEngage and the broader community of innovators and decision-makers. This collaboration highlights the potential of partnerships to create lasting impact, driving growth and progress across industries. Looking ahead, e27 invites readers to anticipate more groundbreaking initiatives that not only nurture startups but also redefine the standards of excellence in customer engagement and digital innovation. Together, e27 and MoEngage continue to pave the way for a brighter, more connected future.

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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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Kuala Lumpur, Malaysia – TikTok is set to host an exclusive, high-impact event aimed at helping brands tap into the immense potential of the Ramadan season. Join Ramadan Ready for SMBs: Elevate Your Brand’s Story on TikTok on 16 January 2025 at Hotel Maya in Kuala Lumpur! This special event promises to equip marketers, advertisers, and business owners with actionable strategies, insights, and tools to maximize their TikTok presence during Ramadan and beyond.

As Ramadan approaches, brands are increasingly looking for ways to connect authentically with the diverse and engaged TikTok audience. This event will feature expert speakers, such as TikTok SMB Account Managers Michelle Lau and Eric Chen. They will share in-depth strategies on how brands can drive awareness, engagement, and sales. Specifically, they will show how to do this through TikTok’s innovative ad formats and creative solutions. Ramadan Ready for SMBs is sponsored by Digitor and WORQ.

Also read: A new insights attitude for SMEs in the era of the ‘insights engine’

What to expect at TikTok’s Ramadan Ready for SMBs

Attendees will gain exclusive insights into how Ramadan is a cultural moment beyond its religious significance. Experts will explore how values like reflection, generosity, and community shape consumer behavior during this season and how brands can authentically connect with audiences. The event will also cover proven campaign strategies for each phase of Ramadan. Specifically, these phases are Pre-Ramadan, Ramadan, Hari Raya, and Post-Raya. Speakers will show you how to tailor content to engage your audience using tools like countdown stickers and festive videos.

Real-world success stories will demonstrate how brands have leveraged TikTok’s innovative advertising tools to boost results. As a result, they were able to improve bidding efficiency and expand reach. Interactive sessions and workshops will help you optimize your campaigns and measure success through key performance indicators (KPIs). This is an unmissable chance to build a comprehensive roadmap to enhance your TikTok presence, particularly during Ramadan.

Harnessing the cultural power of Ramadan: Insights from Nestlé and Applecrumby

RSVP now to gain access to an exclusive panel discussion featuring experts from Nestlé and Applecrumby as they dive into how Ramadan represents a powerful cultural moment for brands. Discover how aligning your brand’s messaging with the values of reflection, community, and generosity can create lasting, meaningful connections with your audience.

This is your chance to learn how Ramadan influences consumer behavior. The session will also feature success stories from brands that have effectively tapped into the spirit of Ramadan, offering valuable insights on how to drive engagement and build stronger relationships with your audience during this season.

Also read: 3 easy tips for SMEs to build overseas customer loyalty

Must-attend event for SMBs, marketers, and creators

This event is a must-attend for anyone looking to elevate their brand’s digital presence and engage with the rapidly growing TikTok community during the Ramadan season. Whether you’re in FMCG, fashion, beauty, or any other commerce/non-commerce sector, the insights shared at this event will provide you with a competitive edge for the upcoming Ramadan campaign and beyond.

Seats are limited, and it is expected to fill up quickly. Don’t miss your chance to gain exclusive knowledge and network with industry professionals at this one-of-a-kind event.

Ready to make this the best Ramadan ever for your business? REGISTER HERE.

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This article is produced by e27

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.

About TikTok

TikTok is a global platform that allows users to create, share, and discover short-form videos. With over 1 billion active users worldwide, TikTok has become a leading platform for brands to engage with diverse audiences in an authentic, creative way. During cultural moments like Ramadan, TikTok provides brands with unique opportunities to connect with users through engaging and meaningful content.

The post Exclusive event alert for SMBs: Be Ramadan ready with TikTok! appeared first on e27.

Why are you looking out?

Candidate: My company mandated everyone to go back to the office five days a week.

Over the last few days, we’ve spoken with not one but three candidates who cited the same reason for exploring new opportunities.

If more and more employees value hybrid working arrangements, are companies getting it wrong?

As of 1 December 2024, Singapore now requires companies to accept formal Flexible Work Arrangement (FWA) requests. Employees can submit these requests detailing:

• The date of request
• The type of FWA they are seeking, including frequency and duration
• The reason for the request
• Start and end dates for the FWA, if relevant

But here’s the question: Will employees feel confident submitting these requests? Or will they worry about how it might impact their performance reviews, bonuses, or even their job security?

Would they risk asking for flexibility—or simply choose to look elsewhere?

The current job market

The job market in 2023 and 2024 has been challenging. Global economic uncertainties, inflation, and consecutive wars have kept unemployment rates high. It’s an employer’s market right now, where candidates are often compelled to take what they can to make ends meet.

But this won’t last forever.

When the market improves, the power will shift back to employees. If employers don’t treat their teams fairly now, they risk losing talent later. Studies consistently show that recruitment costs are high, and the last thing any company wants is significant attrition during a bull market.

Also Read: 5 lucrative strategies Gen Z investors use to empower themselves financially

What the younger generation wants

For Gen Z, flexible work arrangements often outweigh pay and benefits. If employers mandate a five-day return to office, these employees won’t hesitate to leave. And they’ll likely have no trouble finding opportunities elsewhere.

Employers must understand that retaining top talent requires adapting to what the workforce values most—flexibility.

The workplace trade-off

However, the workplace is more than just a job—it’s where employees build the most valuable asset of their careers: relationships. For younger employees, particularly those working remotely most of the time, how can they develop strong bonds, gain mentorship, and build trust with colleagues and senior leaders?

Employers need to rethink their approach to FWAs, but employees should also consider what they might lose by prioritising remote work: opportunities for learning, networking, and sponsorship that come with face-to-face interaction.

The inevitable shift

When the power shifts back to employees, companies that adapt early to flexible work arrangements will have a competitive advantage. Those that resist change risk losing their best people—and finding replacements won’t come cheap.

Here’s our take:

• Employers: Embrace flexibility now, while you still hold the power. Let employees prove themselves with the freedom you offer. If they don’t deliver, you’ll know whether they’re the right fit.
• Employees: Flexibility is earned, not owed. If you’re not showing up (virtually or in person), putting in the work, and making a difference, someone else will. Opportunity doesn’t wait, and luck won’t always be on your side.

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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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