In the dynamic landscape of the Asia Pacific region, where high labour costs and space constraints pose significant operational hurdles, a Singapore-based tech startup, XSQUARE Technologies, is emerging as a key player in warehouse automation.

Founded in 2019, XSQUARE seeks to revolutionise the industry with innovative solutions designed to enhance productivity and optimise space utilisation. CEO Jens Bohnwagner recently shared insights into the company’s journey, technological advancements, and vision for the future of warehousing in the region.

Also Read: XSQUARE lands US$7.8M in Series A financing

XSQUARE’s mission is to tackle inefficiencies in warehouse operations by introducing advanced automation solutions that seamlessly integrate with existing systems. Bohnwagner explained that recurring labour shortages and the need to automate complex operations in both brownfield and greenfield environments drove the company’s inception.

From its beginnings as a startup focused on autonomous forklifts, the startup has evolved into a leading provider of integrated warehouse automation solutions.

“During the early days, overcoming initial client hesitation about adopting new automation technologies and managing the capital expenditure involved were significant challenges,” he tells e27. “However, XSQUARE built credibility by focusing on understanding customer needs and steadily improving its solutions, becoming a reliable name in the industry.”

Key milestones in XSQUARE’S journey include the launch of its flagship range of Autonomous Forklifts. These forklifts meet stringent safety and hygiene standards across various industries, featuring gas detectors for hazardous environments. In the food sector, they can autonomously manage steel barrels, transporting them to and from dispensing stations.

Equipped with high-precision navigation, these forklifts operate in tight spaces, coordinate multiple units, and lift goods up to 17 meters, optimising space and minimising bottlenecks.

“Another significant achievement is the development of Xymphony, our proprietary Warehouse Orchestrator System,” he adds. “This central intelligence system enables real-time material flow orchestration, seamlessly integrating with autonomous forklifts and third-party systems like shutter doors, conveyor systems, and Automated Storage and Retrieval Systems (ASRS). This comprehensive integration enhances visibility and control, enabling businesses to optimise operations efficiently. Xymphony leverages data analytics and intelligent algorithms for real-time workflow optimisation.”

The Asia Pacific market presents substantial opportunities for warehouse automation. According to Mordor Intelligence, the Asia Pacific warehouse automation market is projected to grow from US$14.8 billion in 2025 to US$32.87 billion by 2035.

Bohnwagner also highlighted the rapid growth of e-commerce in Southeast Asia, which is expected to reach a gross merchandise value of US$230 billion by 2026, driving the demand for efficient supply chain operations. These factors make the region “ripe for automation solutions that maximise productivity and optimise space utilisation”.

According to him, XSQUARE’s solutions are designed for flexibility and scalability, meeting the specific needs of diverse industries, including manufacturing, retail, and logistics. “By avoiding one-size-fits-all approaches and prioritising customer-centric innovation, XSQUARE remains adaptable in deploying its advanced capabilities, including high-lifting solutions like Reach Trucks and Very Narrow Aisle (VNA) trucks, as well as autonomous container stuffing and unstuffing.”

XSQUARE’s adaptability as a startup allows them to tailor solutions for complex workflows and challenging environments. Its cost-effective robotics-as-a-service (RaaS) model enhances accessibility by eliminating the need for significant upfront investment.

Integrating legacy systems in existing warehouses is a key challenge that XSQUARE addresses by leveraging Xymphony’s integration capabilities. This ensures that their solutions work alongside existing machinery. XSQUARE’s key advantage over competitors is its ability to offer flexible, scalable solutions, adapting to unique customer needs, as well as its strong post-deployment support, continuous improvement, and cost-effective RaaS model.

Looking ahead, Bohnwagner anticipates key trends in intralogistics and warehouse automation, including increased demand for high-density storage solutions, seamless integration of autonomous systems into legacy workflows, and flexible automation models like RaaS.

Also Read: Revolutionising warehousing: An in-depth conversation with XSQUARE

“XSQUARE stays ahead of the curve by prioritising R&D, fostering partnerships with technology leaders, and staying in touch with customers for feedback,” he shares.

Last May, the automation startup raised US$7.8 million in Series A funding, led by Wavemaker Partners and with participation from SEEDS Capital and Goldbell Corporation.

XSQUARE’s growth strategy includes strengthening partnerships, increasing production capacity, and exploring new markets in Australia, Hong Kong, South Korea, Japan, Vietnam, Malaysia, and the Middle East. They also plan to improve services for existing customers by establishing regional hubs and collaborating with local distributors. The goal is to become a global leader in intelligent warehousing by expanding reach and service levels across Asia Pacific and worldwide.

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Key highlights:

February 6, 2025: We’ve recently witnessed a stabilisation of risk sentiment following a tumultuous week marked by volatile price action. Despite the tech sector’s underwhelming earnings, the MSCI US index managed to eke out a modest gain of 0.4 per cent, buoyed by a broader rally across other sectors. This resilience in the face of disappointing tech earnings speaks volumes about the current market dynamics, where diversification across sectors seems to be paying dividends.

The week’s economic data provided a mixed bag of signals. The US ISM services data, which fell unexpectedly to 52.8 against a consensus forecast of 54.1, sent ripples through the financial markets. This decline in service sector activity led to a significant drop in US Treasury (UST) yields, with the 2-year yield softening by three basis points to 4.19 per cent and the 10-year yield dropping eight basis points to 4.42 per cent.

This adjustment in yields reflects a cautious optimism among investors, perhaps taking some comfort in the narrowing of the 10s2s yield curve, which tightened by another 6 basis points to 23 basis points. This movement in the yield curve suggests that while the market anticipates no immediate rate hikes, the long-term outlook might be less hawkish than previously thought.

Amidst this backdrop, the voices from the Federal Reserve, including Jefferson, Barkin, and Goolsbee, maintained a steady drumbeat of “no rush on rate cuts,” although Goolsbee struck a surprisingly hawkish tone, cautioning about inflation risks stemming from potential tariffs.

This nuanced shift in narrative was further complicated by comments from Treasury Secretary Scott Bessent, who indicated that the Trump administration’s focus on reducing borrowing costs would target the 10-year Treasury yields rather than the Fed’s short-term rates. This policy direction could have profound implications for long-term investment strategies and the broader economic landscape.

The US Dollar Index, reflecting these shifts in economic policy and investor sentiment, fell by 0.4 per cent, reaching its lowest point in over a week. This decline was partly due to receding fears of a global trade war, which also influenced currency pairs like USD/JPY, dropping from 154.50 to 152.50 after Japan reported stronger-than-expected wage growth, sparking speculation of another Bank of Japan rate hike.

Gold, often seen as a safe-haven asset, continued its bull run, climbing to a new high of US$2,865 per ounce. This surge was fuelled not only by the general risk-off sentiment but also by fears that higher tariffs might extend to precious metals and commodities imports from the UK and the European Union.

Conversely, Brent crude oil prices fell by 2.1 per cent after an EIA report highlighted an increase in crude oil inventories, adding to the overhang of geopolitical risks in the oil market.

Looking at the equity front, Asian markets took their cues from Wall Street, opening higher, while US equity futures suggested a positive start for American stocks, indicating a potential continuation of the stabilisation trend.

The week wasn’t just about traditional markets; significant strides were made in the digital asset space. White House Crypto Czar David Sacks announced that the first priority for the administration would be stablecoin legislation. This move comes at a time when stablecoins, despite their popularity mainly overseas, have yet to find a clear regulatory path in the US The establishment of a Crypto Task Force, with SEC Commissioner Hester Peirce at the helm, aims to carve out a regulatory framework that balances innovation with investor protection.

The task force’s agenda is ambitious but necessary. It seeks to eliminate the regulatory ambiguity that has long plagued the crypto industry, where businesses operate under the shadow of potential legal repercussions without clear guidelines. Commissioner Peirce emphasised in her statement that the SEC’s initiative isn’t an endorsement of any crypto asset but rather an effort to provide a regulatory environment that makes sense for crypto while safeguarding investors from fraudulent schemes. The focus on stablecoins is particularly pertinent, given their role in providing liquidity and stability within the volatile crypto market.

This regulatory push could potentially be legislated within six months, according to Sacks, which is a bold timeline considering the complexities involved. Yet, it signals a significant shift towards integrating cryptocurrencies into the mainstream financial system, recognising their potential while addressing the inherent risks.

In conclusion, this week’s market movements reflect a broader narrative of stabilisation amidst volatility, driven by economic data, policy signals, and geopolitical developments. The focus on stablecoin regulation could be a game-changer for the crypto market, potentially fostering an environment where digital assets can thrive under a clearer legal framework.

However, the journey towards such stability in both traditional and digital markets is fraught with challenges, requiring a delicate balance between fostering innovation and ensuring economic and financial integrity. As we move forward, the interplay between market sentiment, regulatory actions, and global economic policies will continue to shape our financial landscape in unpredictable but potentially rewarding ways.

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Artificial intelligence (AI) adoption continues to grow globally, but a new report from Hitachi Vantara reveals that organisations face significant challenges in managing data infrastructure effectively.

The 2024 global study, based on insights from 1,200 IT decision-makers across 15 countries, highlights concerns about data quality, security, sustainability, and the complexities of hybrid environments. While IT leaders acknowledge the importance of high-quality data in driving AI success, many are failing to prioritise it in practice.

The report indicates that AI adoption varies significantly across regions. Singapore stands out as a leader, with 57 per cent of large organisations having integrated the tech into their operations. This high adoption rate suggests that Singaporean businesses are better positioned to leverage their data for AI-driven insights and automation.

By contrast, Indonesia exhibits much slower adoption, with only 26 per cent of large organisations having implemented AI solutions.

Other markets with comparatively low adoption rates include the US (32 per cent), the UK (27 per cent), and Brazil (27 per cent).

The disparity between Singapore and Indonesia suggests that readiness depends on various factors, including regulatory clarity, available resources, and organisational priorities.

Also Read: Report: APAC demonstrates stronger cryptocurrency resilience, growth in 2024

Barriers to AI adoption

The report does not pinpoint a single reason for Indonesia’s slow AI adoption but provides valuable context.

A lack of clear regulatory guidance on AI has led many IT leaders to deprioritise sustainable AI practices. More than a third (34 per cent) of respondents cited the absence of industry standards as a significant barrier to implementing responsible AI initiatives. Limited resources also play a crucial role in slowing adoption.

Key concerns for IT leaders include:

Data quality (37 per cent)
Inconsistent or incomplete data undermines AI model performance.

Skilled workforce (31 per cent)
A shortage of AI and data science talent hinders progress.

Data storage (31 per cent)
Organisations struggle to manage vast amounts of AI-generated data.

Processing power (28 per cent)
Computing constraints limit scalability.

Additionally, speed and cost are prioritised over return on investment (ROI) as organisations focus on iterating AI implementations quickly. This cautious approach may further contribute to slower adoption rates in some regions.

Also Read: The new norm: Stabilising global risk sentiment in a volatile market

In Malaysia, processing power emerges as a key concern. Nearly half (43 per cent) of IT leaders in Malaysia emphasise the need for optimised software and applications that can run efficiently on existing infrastructure.

The path forward

As AI adoption accelerates, businesses must address foundational challenges to maximise its benefits.

The Hitachi Vantara report underscores the importance of prioritising data quality, ensuring regulatory clarity, and investing in infrastructure improvements. By doing so, organisations can build a more resilient ecosystem that is both scalable and sustainable.

For markets like Indonesia, where adoption lags, addressing regulatory uncertainties and workforce development could be key enablers for AI growth.

Meanwhile, in leading markets like Singapore, the focus may shift towards optimising applications and enhancing data governance practices.

As businesses worldwide navigate the evolving AI landscape, the ability to manage data infrastructure effectively will remain a decisive factor in long-term success.

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Image Credit: True Agency on Unsplash

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Kumpulan Modal Perdana (KMP), a VC firm owned by the Malaysian Ministry of Finance, has announced a strategic investment in Swift Bridge Technologies, a startup specialising in commercial test and measurement market connectivity solutions.

The funding will enable Swift Bridge Technologies to acquire advanced testing equipment for developing RF cables exceeding 110GHz, expand its product range to include high-frequency RF cables up to 145GHz and enhance low-frequency cable solutions.

The startup will also use the capital to optimise its 110GHz cables and move its R&D production from the US to Malaysia.

Also Read: Singapore’s semiconductor stars: A look at key players and startups

Established in 2012, Swift Bridge offers solutions across diverse sectors, such as semiconductors, biomedical, electronics and electrical manufacturing, telecommunications, industrial automation, automotive, and research institutions. Its products, operating from low-frequency applications up to 110 GigaHertz (GHz), are essential for applications like spectrum analysers, network analysers, automation testers, and 5G systems.

With 40 per cent of its client base international and 60 per cent local, Swift Bridge has built long-term relationships with major companies, which accounted for a significant portion of its 2023 revenue.

This investment is expected to transform key industries, including semiconductors, telecommunications, automotive, biomedical, and industrial automation. It will also support research institutions.

KMP’s investment aligns with Swift Bridge’s vision to become a world leader in connectivity technology. The partnership will allow Swift Bridge to meet complex customer demands and broaden its market reach.

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Just weeks ago, it seemed that TikTok’s days on American smartphones were coming to an abrupt end. President Joe Biden’s ban on the platform, ostensibly grounded in national security concerns, had attracted bipartisan support, and even the Supreme Court declined to intervene.

In a last-minute twist, however, incoming President Donald Trump stepped in to broker a temporary reprieve. TikTok’s Chinese parent company, ByteDance, must still relinquish part of its US operations to American entities—enough, presumably, to mitigate concerns over data privacy and foreign interference.

This episode highlights a thorny reality: even wildly popular social media platforms can be thrown into crisis when geopolitics and data security intersect. TikTok is no mere novelty app: it boasts 170 million active users in America as of early 2025, with the lion’s share—33.9 per cent—aged between 25 and 34, a prime demographic for advertisers.

An average of 58.4 minutes spent daily per user underscores its sheer engagement power. For businesses, the platform has become indispensable, helping generate US$15 billion in annual revenue for seven million small firms and contributing US$24.2 billion to America’s GDP.

A digital community powerhouse

TikTok’s potential for digital advertisers is difficult to overstate. By one measure, users collectively upload 272 videos every second—a testament to the app’s frenetic, viral engine. A US growth rate of nearly 788 per cent in 18 months has lured brands keen to court TikTok’s youthful audience. The knock-on effect is a surge in ad spending as marketers pivot toward short-form video.

Yet TikTok’s star power has also made it a political lightning rod. While it has secured a stay of execution, the platform’s future remains subject to shifting policies and judicial oversight—particularly regarding content moderation, data handling, and ownership structures.

Also Read: The evolution and regulation of social commerce in Indonesia: The TikTok Shop ban

With a presence in over 40 languages, TikTok’s global clout extends far beyond America. But it is the US market—170 million users and counting—that lands the platform squarely in Washington’s crosshairs. National-security hawks argue that ByteDance could funnel data back to Beijing. TikTok insists it is committed to transparency and American oversight. The ongoing saga exemplifies the hazards of cross-border tech giants operating in a climate of heightened suspicion and potential economic decoupling.

The corporate affairs playbook

Given TikTok’s temporary reprieve, here are four strategic responses the platform could pursue:

Immediate actions

• Reinforce economic impact: Emphasise the platform’s benefits to seven million small businesses and 170 million American users, thereby underlining its commercial and social value.
• Maintain operational transparency: Cooperate closely with Trump’s team on proposals for a 50 per cent US ownership structure. Sharing compliance measures and data protocols can help quell security anxieties.
• Strengthen local partnerships: Forge deeper relationships with American service providers and tech companies, ensuring the platform’s continued stability.

Strategic communications

• Frame as a free-expression win: TikTok’s messaging to date positions this reprieve as a triumph for the First Amendment, appealing to America’s tradition of open discourse.
• Focus on culture, not politics: Emphasise TikTok’s cultural contributions—be it creative content, music discovery, or community-building—while steering clear of overt partisanship.
• Engage with policymakers: Maintain constructive dialogue with both the incoming administration and Congress, signalling good faith and a willingness to address concerns.

Also Read: Exclusive event alert for SMBs: Be Ramadan ready with TikTok!

Business development

• Accelerate US investment talks: Demonstrate tangible progress toward ownership restructuring, reassuring regulators of the platform’s commitment to American legal norms.
• Pursue joint ventures: Explore collaboration aligned with Trump’s 50 per cent ownership model. This could foster shared oversight and defuse suspicion.
• Prepare technical contingencies: Draft plans for hosting and security infrastructure to placate national security worries.

Stakeholder management

• Uphold diplomatic ties: Build upon dialogues involving President Trump and President Xi Jinping, keeping lines of communication open at the highest levels.
• Stay transparent with creators and SMBs: Regular updates foster loyalty among the content creators and businesses whose livelihoods depend on TikTok’s reach.
• Cooperate with national security officials: Work in tandem with Mr Trump’s security team—offering ongoing risk assessments and solutions—to demonstrate earnest commitment to US standards.

The key is to seize this temporary win and transform it into a stable, lasting arrangement. By addressing America’s security concerns while preserving ByteDance’s commercial prerogatives, TikTok can lay the groundwork for enduring success in its most prized market.

Borderless digital flows in a multipolar world

In the near term, TikTok’s return to US app stores may feel like a reprieve for ByteDance, the platform’s creators, and millions of loyal users. Yet the fundamental tension — between a Chinese-linked enterprise and American lawmakers skeptical of foreign data harvesting — remains unresolved.

For corporate affairs observers everywhere, the takeaway is unambiguous: TikTok’s stay of execution may well be a sign of things to come, as geopolitical multipolarity increasingly collides with the borderless flow of the digital economy.

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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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