Indonesia’s steady climb in the East Ventures – Digital Competitiveness Index (EV-DCI) 2025 is more than a statistical win; it signals structural transformation. The narrowing digital gap between provinces shows that the benefits of connectivity and digital tools are spreading beyond Jakarta and other urban strongholds. This is particularly significant for investors and innovators, as it suggests untapped opportunities in regions once considered peripheral to the country’s tech story.

The consistent rise in the median DCI score, coupled with a shrinking disparity between top and bottom performers, highlights the impact of sustained investment in digital infrastructure, literacy, and inclusive policy. These fundamentals not only boost adoption but also prepare the ground for advanced technologies like AI, IoT, blockchain, and 5G to take root widely.

For startups and corporates eyeing Southeast Asia, Indonesia is shaping up as a market where innovation can scale both deeply and broadly. The US$90 billion digital economy and ambitious target to reach 20% of GDP by 2045 show clear growth momentum.

In an era where resilience is a prized economic asset, Indonesia’s digital trajectory offers a rare combination of scale, inclusivity, and long-term vision. This mix could define the region’s next big tech success stories.

REGIONAL

Ninja Van said to halve valuation in latest round
The Singapore-based logistics firm, which operates in six Southeast Asian markets and is backed by Alibaba, previously reached a valuation above US$1B after a US$578M Series E round in 2021.

SG e-commerce solutions firm Graas.ai raises US$9M pre-Series B
The investors include Tin Men Capital, Incred Wealth, Orzon, and Integra Partners | The funding will help launch Agent Foundry, described as a proprietary environment for e-commerce brands to automate tasks using AI-driven agents.

Hyperlocal deliveries drive 300% stock surge for Sea
Shopee now leads the SEA’s e-commerce market, handling billions of parcels annually | Research firm Momentum Works estimates SPX Express manages about 25% of the region’s logistics market as of 2024.

Nibertex bags US$7M to push boundaries in breathable waterproof materials
Investors include TNB Aura, ADB, Faircrest Holding, and Foxmont Capital | Nibertex’s PFAS-free membranes are ideal for various applications, including performance apparel, healthcare, industrial, and consumer products.

Digital health provider Naluri raises US$5M, targets profitability in one year
Investors include TELUS Global, Sumitomo Asia, and M Venture Partners | Naluri will earmark a significant portion of the Series B round for further expansion into the Philippines and Vietnam.

REPORTS, FEATURES & INTERVIEWS

Indonesia’s digital index rises again, regional gaps narrow
Indonesia’s digital economy continues its rapid ascent, with its GMV reaching US$90B by 2024, marking a 13% increase compared to 2023 | This growth was fuelled by the sustained adoption of digital technologies and a surge in online transactions.

Localised campaigns and transparent checkout win Singaporean e-shoppers: Survey
Airwallex’s e-commerce survey 2025 reveals Singapore’s cross-border shoppers prioritise transparency, mobile checkout, and preferred payments.

Why university startups lag behind: Waseda University research reveals foundational gaps
Waseda University noted that despite robust institutional support, university startups often underperform in the arena.

INTERNATIONAL

SoftBank founder bets big on AI for company’s future
The Japanese conglomerate has also announced plans to acquire US chipmaker Ampere Computing for US$6.5B and has announced multi-billion dollar planned investments in US-based OpenAI.

S Korean investors shift from US tech giants to stablecoin stocks
According to a report, the share of virtual asset-related stocks among the top 50 net-bought overseas stocks by South Korean individuals rose from 8.5% in January to 36.5% in June, before dipping to 31.4% in July.

SoftBank unveils AI model for detailed earth maps
DeepMind’s AlphaEarth Foundations combines trillions of images from multiple public sources, including satellite images, radar scans, 3D mapping, and climate simulations | It can map terrestrial land and coastal waters worldwide.

TikTok to replace trust and safety team in Germany with AI and outsourced labour
The Berlin employees cover the German-speaking market, which the union says has about 32 million active users | TikTok has a handful of offices around the country, but the capital city serves as the biggest hub, with about 400 employees overall.

Sam Altman says Gen Z are the ‘luckiest’ kids due to AI
Altman said he believes today’s college graduates have unprecedented opportunities due to advances in AI, but acknowledged that some job categories could disappear entirely.

MENA startup funding surges to US$783M in July 2025
This figure is up 1,411% from the previous month and more than double July 2024’s total | Saudi Arabia led the region with 16 deals worth US$396.5M, followed by the UAE with US$359M across 22 startups.

OpenAI to expand in India with affordable AI tools: CEO
Sam Altman described India as OpenAI’s second-largest and fastest-growing market after the US | The company will work with local partners to increase AI access and affordability.

SEMICONDUCTOR

Intel CEO to visit White House on Aug 11 over China ties
The visit comes after US President Trump singled out Lip Bu-Tan, suggesting he should resign over questions about his ties to China.

Nvidia denies Chinese allegations on H20 AI chips
The company responded after Yuyuan Tantian, a social media account linked to state broadcaster CCTV, alleged the H20 chips are not advanced or environmentally friendly and could be remotely shut down via a hardware backdoor.

Nvidia, AMD to pay US 15% of China chip sales in license deal
These agreements follow the US Commerce Department’s decision to start issuing H20 export licenses last Friday, two days after Nvidia CEO Jensen Huang met with President Donald Trump.

S Korean AI chip firm DeepX hires Morgan Stanley for IPO
The company is reportedly seeking to raise more than the US$79M it secured in Series C last year | DeepX specialises in on-device AI chips for devices such as robots and drones, focusing on solutions that do not require constant cloud connections.

AI

#StudentsSpeakonAI: High usage, low understanding—The double-edged sword of AI in education
Students worldwide are rapidly adopting AI for learning, but many lack basic understanding—fuelling misinformation, confusion, and future anxiety.

Why the future of AI needs more of diversity and the arts
Diversity is about accepting differences and not forcing men, women, NLP engineers, data artists, decision scientists to fit into the same mold.

Indonesia’s AI ambitions face hard limits amid foundational gaps: Salesforce
Indonesia stands to benefit significantly from AI—but only if it can address the structural weaknesses that currently hold back its progress.

AI for the real world: SEA’s cost-efficient playbook is winning investors over
SEA is an AI hub that attracts billions by focusing on downstream applications, accessible infrastructure, and integration-ready talent.

THOUGHT LEADERSHIP

Southeast Asia’s venture capital slowdown: A wake-up call or a temporary blip?
According to MAGNiTT’s latest EVM VC report, funding in the region fell a staggering 42% YoY to US$1.71B, which is the steepest correction across EVMs, while deal count plummeted 35% to 212 transactions.

ASEAN’s regionalism strategy: Building unity in a depolarised world
Singapore’s PM Lawrence Wong urges deeper ASEAN integration to boost competitiveness amid rising global protectionism.

Smart nation, smart homes: How Singapore’s proptech ecosystem is redefining urban living
Singapore’s Smart Nation push has made it a global leader in proptech, blending digital twins, IoT, AI, and blockchain in real estate.

Ether soars past US$4,300, gold hits US$3,400: Is a new duty rule about to crash the market?
Hopes for a Russia-Ukraine ceasefire lift global stocks as tech rallies, crypto surges, and stablecoins reshape financial competition.

Embedded finance will drive financial growth and sustainability in India
Embedded finance is rapidly expanding in India, boosting financial inclusion and reshaping how consumers access banking services.

The future of Gen Alpha in the workplace, a primer for business leaders
As business leaders, we must prepare for these shifts and harness Gen Alpha’s potential to drive future progress and success.

Balancing economic growth and climate action: Decarbonising SEA’s built environment
The rise of green buildings and climate challenges create vast opportunities for sustainable innovation in the built environment sector.

Navigating the climate tech landscape in Germany: Opportunities and pathways
Germany’s climate tech landscape offers opportunities for innovation and growth, backed by strong government support and a thriving ecosystem.

Why sustainable power starts with data
Global power companies use data to determine where to allocate their budget for new projects and predict which assets are most likely to fail.

From gold rush jeans to digital skills: Edutech’s Levi Strauss moment
For edutech companies, it’s crucial to align with sectors showing robust growth potential and nearing widespread adoption.

Bold moves: Capitalising on market dips in edutech
“Buying the dip” in undervalued sectors presents an intriguing opportunity for edutech companies willing to take calculated risks.

How predictive insights for data sustainability revolutionises carbon emission accounting
Overcoming the challenges of fragmented data in carbon emission accounting is crucial for achieving global sustainability goals.

How overlooked wet waste streams hold profit potential despite challenges
Wet waste presents a unique challenge due to its exceptionally high water content, often exceeding 80 per cent of the waste’s mass.

VC funding can’t guarantee a crypto project’s survival: Chainplay
Despite the bleak data, there is a silver lining: the amount of capital raised does appear to influence outcome of a crypto project.

The future of visual content in the startup ecosystem
Analysing current trends in visual marketing and content creation, particularly how these changes can help startups bolster their brands.

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The image was generated using ChatGPT.

The post Ecosystem Roundup: Indonesia’s digital index rises | Ninja Van halves valuation | Intel CEO to visit White House over China ties appeared first on e27.

Equatic, a dual-focus climate tech company specialising in carbon dioxide removal (CDR) and green hydrogen production, has raised US$11.6 million in Series A funding to accelerate commercialisation of its patented seawater electrolysis tech.

The round was co-led by Catalytic Capital for Climate and Health (C3H) — a Temasek Trust initiative — and Singapore-based Kibo Invest, with participation from a global investor consortium.

Funds will be channelled toward engineering scale-up, manufacturing, and development of Equatic’s first 100-kilotonne CDR commercial facility.

The global race toward net zero demands not just carbon capture but scalable, verifiable solutions that can address both decarbonisation and clean energy. Equatic’s approach targets these two fronts simultaneously: removing atmospheric CO₂ while producing green hydrogen in the same process.

“This investment marks a pivotal moment for Equatic,” said Gaurav N. Sant, Founder and CTO. “It allows us to scale production and accelerate our mission to deliver durable carbon removal at scale”.

Also Read: Balancing economic growth and climate action: Decarbonising SEA’s built environment

C3H’s Head, Ryan Tan, emphasised that the company’s solution aligns with their mission to back bold, scalable innovations for permanent climate impact. Kibo Invest CEO James Marshall added that the partnership aims to bring the technology “to commercial scale” in addressing decarbonisation and clean energy needs.

Since launching operations in 2023, Equatic has deployed pilot plants in Los Angeles and Singapore, with expansion underway through the Equatic-1 demonstration plant in Singapore and a commercial-scale facility in Canada.

The company’s proprietary tech enhances the ocean’s natural carbon absorption capabilities. It uses seawater electrolysis to lock away CO₂ and produce hydrogen without generating harmful byproducts.

In September 2024, Equatic announced a breakthrough in US manufacturing of oxygen-selective anodes, enabling scalable direct seawater electrolysis.

The company has an ISO-14064 standard for monitoring, reporting, and verification (MRV) validated by Isometric and Puro.earth. This allows it to issue high-quality, auditable CDR credits, which companies such as Boeing have already purchased.

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Image Credit: Equatic

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July Consumer Price Index (CPI) data is a critical indicator of inflationary trends that could shape monetary policy and asset prices worldwide. The muted global risk sentiment reflects a cautious stance among investors, driven by uncertainty surrounding the inflation report and its implications for Federal Reserve policy.

Meanwhile, President Donald Trump’s executive order extending the China tariff deadline by 90 days into early November has provided a temporary reprieve, lifting sentiment in Asian markets. However, Wall Street’s cautious retreat from near-record highs, coupled with developments in cryptocurrencies like Ethereum and Bitcoin, underscores the intricate interplay of macroeconomic data, trade policies, and speculative assets in shaping market dynamics.

The US July CPI report, due tonight, is a focal point for markets, as it will provide insight into whether inflationary pressures are intensifying or moderating. Economists project a year-over-year headline inflation increase of 2.8 per cent, up 10 basis points from June’s 2.7 per cent, with core CPI, which excludes volatile food and energy prices, expected to rise 0.3 per cent month-over-month and 3.0 per cent annually. These figures are critical because they could influence the Federal Reserve’s decision on interest rates at its September meeting.

A softer-than-expected CPI reading could bolster expectations for a 25-basis-point rate cut, signalling that the Fed views inflation as manageable and is prioritising economic growth amid signs of a slowing labour market. Conversely, a higher-than-expected figure could dampen hopes for immediate rate cuts, as persistent inflation driven by tariffs and supply chain pressures might force the Fed to maintain its current stance. This uncertainty has kept investors on edge, contributing to a cautious tone in global markets.

The recent executive order from President Trump extending the China tariff deadline by 90 days has introduced a layer of optimism, particularly in Asian equity markets. The decision, while light on specifics, signals a temporary de-escalation in US-China trade tensions, which have been a significant driver of market volatility in 2025.

Asian equity indices opened higher this morning, reflecting relief that the immediate threat of escalated tariffs has been deferred. This extension aligns with earlier trade agreements, such as the May 12 deal that paused additional tariffs and set US tariffs on Chinese imports at 30 per cent, while China lowered its tariffs on US goods to 10 per cent.

However, the fluid nature of trade policy under the Trump administration keeps markets wary. A social media post from the White House on May 30 suggested that China may have violated the agreement, raising the specter of renewed tariffs. Such unpredictability underscores the fragility of the current truce and its potential to disrupt global trade and inflation dynamics.

Wall Street’s reaction to these developments has been subdued, with major indices like the S&P 500, NASDAQ, and Dow Jones retreating slightly from near-record levels, declining by 0.3 per cent, 0.3 per cent, and 0.5 per cent, respectively. This pullback reflects investor caution ahead of the CPI data, as a higher-than-expected inflation reading could pressure risk assets, including equities and cryptocurrencies.

US treasury futures have shown limited volatility, with yields remaining rangebound, indicating that bond markets are also in a wait-and-see mode. The US Dollar Index, up 0.3 per cent, has benefited from this cautious sentiment, as investors seek safe-haven assets amid uncertainty. Gold, however, retreated 1.4 per cent to US$3,351 per ounce after Trump clarified that bullion imports would be exempt from tariffs, reducing its appeal as a hedge against trade-related inflation.

Also Read: Bitcoin soars to US$116K: Is US$200K next thanks to Trump?

In the commodity markets, Brent crude oil edged up 0.1 per cent, consolidating at higher levels despite a lack of significant news flow. The oil market’s stability reflects a balance between demand concerns and supply dynamics, with OPEC+ reportedly considering a larger-than-expected production hike.

This development could cap upside potential for oil prices, particularly if trade tensions resurface and dampen global demand. The interplay between tariffs, inflation, and commodity prices remains a critical factor for investors, as higher input costs could further fuel inflationary pressures, complicating the Federal Reserve’s policy calculus.

The cryptocurrency market, meanwhile, has emerged as a bright spot amid the broader caution. Ethereum has outperformed Bitcoin in year-to-date gains, rising 29 per cent to US$4,311.58 compared to Bitcoin’s 28 per cent increase to US$120,020.83. Ethereum’s surge past the US$4,000 mark, a level not seen since December 2024, reflects growing institutional demand and inflows into US spot Ethereum exchange-traded funds (ETFs).

These funds have attracted US$5 billion in net inflows over the past month, with total assets under management reaching US$20 billion since their launch in July 2024. Digital asset treasury companies (DATs) are also stockpiling ETH, emulating the strategy pioneered by Bitcoin advocate Michael Saylor. This institutional buying has bolstered Ethereum’s price, despite a 0.9 per cent daily decline, and highlights the increasing integration of cryptocurrencies into mainstream finance.

Bitcoin, while slightly trailing Ethereum in year-to-date performance, has also seen significant gains, climbing above US$122,000 over the weekend. The total cryptocurrency market capitalisation has surged to US$4.1 trillion, reflecting renewed investor enthusiasm. The correlation between Bitcoin and US equity markets has strengthened since mid-July, suggesting that cryptocurrencies are increasingly viewed as risk assets sensitive to macroeconomic developments.

Options market activity underscores this dynamic, with Bitcoin options open interest at US$43 billion and Ethereum at US$13.9 billion, approaching record highs. Traders are positioning for volatility around the CPI release, with elevated open interest indicating both hedging against downside risks and bets on further upside momentum. Short-call covering in Bitcoin options suggests reduced bearish sentiment, but implied volatility is expected to remain high until the CPI data provides clarity.

From my perspective, the current market environment reflects a delicate balance between optimism and caution. The extension of the China tariff deadline offers a reprieve, but the lack of clarity on trade policy keeps investors on edge. The CPI report will be a pivotal moment, as it could either reinforce expectations for a dovish Federal Reserve or signal persistent inflationary pressures that delay rate cuts.

The resilience of cryptocurrencies like Ethereum and Bitcoin, driven by institutional adoption and ETF inflows, highlights their growing role as alternative assets in a volatile macroeconomic landscape. However, their correlation with equities suggests that a negative surprise in the CPI data could trigger a broader sell-off in risk assets.

The Federal Reserve faces a challenging path. Two Fed governors, Michelle Bowman and Christopher Waller, dissented in the last meeting, advocating for rate cuts due to signs of a slowing labor market and their belief that tariff-driven inflation may be transitory.

However, Fed Chair Jerome Powell has emphasised a data-dependent approach, and a higher-than-expected CPI reading could strengthen the case for holding rates steady. The labor market, while still robust, shows signs of softening, with recent revisions slashing job growth figures for May and June to 19,000 and 14,000, respectively. These figures, the lowest two-month job growth since April 2021, add pressure on the Fed to balance its dual mandate of price stability and maximum employment.

Also Read: Bold moves: Capitalising on market dips in edutech

Asian markets’ positive response to the tariff deadline extension underscores the global sensitivity to US trade policy. However, the risk of retaliation from trading partners, such as the EU’s potential €95 billion countermeasures, looms large.

Tariffs have already driven price increases in categories like furniture, auto parts, and electronics, contributing to inflation expectations of 4.4 per cent in the coming year, according to the University of Michigan’s consumer sentiment survey. Despite these concerns, consumer sentiment improved in July to 61.8, reflecting resilience in the face of tariff threats and robust retail sales data.

In conclusion, the US CPI report serves as a critical catalyst. The interplay of trade policy, inflation, and monetary policy will shape market sentiment in the coming weeks. Cryptocurrencies, particularly Ethereum, are carving out a significant role in this environment, driven by institutional demand and speculative interest.

However, the risks of higher inflation and renewed trade tensions could disrupt the current rally in risk assets. Investors should remain vigilant, balancing opportunities in equities and digital assets with the need to hedge against potential volatility. The next few days will be crucial in determining whether the current cautious optimism gives way to renewed confidence or a retreat into risk-off sentiment.

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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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The global quantum computing sector is entering a new commercial era, with companies increasingly focused on generating revenue rather than solely advancing research and development. According to McKinsey’s Quantum Technology Monitor 2025, quantum computing firms are expected to surpass US$1 billion in earnings by the end of 2025, marking a significant shift towards market maturity.

In 2024, quantum computing companies collectively earned between US$650 million and US$750 million, up from US$200 million to US$250 million in 2023. The report projects that 2025 revenues will climb to between US$1,000 million and US$1,100 million, driven by broader deployment of quantum hardware, cloud-based access to computing resources, and substantial funding from government and defence sectors.

Market forecasts are equally ambitious. McKinsey estimates the quantum computing market could grow to US$16 billion to US$37 billion by 2030, with further expansion to US$45 billion to US$131 billion by 2040, depending on the growth scenario. Annual growth rates are projected at 11 to 14 per cent over the next decade.

A key driver of this revenue acceleration is the expanding deployment of quantum hardware made accessible via cloud platforms. This model allows companies, researchers, and governments worldwide to harness quantum computing capabilities without the prohibitive cost of owning specialised machines.

Government and defence funding have also played a pivotal role, supporting hardware and software development. Public investments are increasingly aimed at ensuring national capabilities in quantum tech, with funding often tied to strategic and security priorities.

Also Read: Why tonight’s inflation report could shake global markets to their core

In 2024, industry capital expenditure accounted for about 32 per cent of the total QC market size, signalling strong private-sector confidence in the tech’s future.

While most quantum-computing-specific companies are not yet profitable, they are steadily moving towards monetising their innovations. Currently, component manufacturers—which supply parts applicable to multiple quantum hardware platforms—capture the largest share of market value. However, as hardware capabilities advance and applications become commercially viable, this balance is expected to tilt towards the companies developing complete quantum systems and solutions.

The report underscores that this early commercialisation stage is critical for creating viable business models, building customer bases, and preparing the infrastructure for scaled adoption.

Industry potential and high-value use cases of quantum computing

McKinsey’s analysis suggests that quantum computing could unlock US$0.9 trillion to US$2.0 trillion in economic value by 2035, through additional revenues and cost savings. Four sectors are poised to capture the largest share of these benefits:

– Global energy and materials
– Pharmaceuticals and medical products
– Financial services
– Travel, transport, and logistics

These industries present US$1 trillion to US$2 trillion in use-case opportunities, with acceleration expected in the next five to ten years as QC technology reaches greater operational stability and scalability.

Investment landscape: startups and public funding surge

A buoyant investment climate supports the push towards revenue generation. Funding for quantum technology startups surged 50 per cent year-on-year to US$2 billion in 2024. Over 80 per cent of all quantum investments targeted quantum computing, with superconducting tech and photonic networks receiving the highest allocations.

Also Read: Equatic secures US$11.6M Series A to scale carbon removal, green hydrogen tech

Public funding also grew significantly, rising by 19 percentage points from 2023 to 2024. Early 2025 saw public investment announcements exceeding US$10 billion globally, including a landmark US$7.4 billion quantum initiative from Japan. This level of funding reflects not just commercial promise but also geopolitical interest in quantum capabilities.

Investors are increasingly backing emerging startups (less than four years old) and mature companies (over eight years old), while moving away from the “scaling” bracket of firms aged four to eight years. This signals a dual strategy of pursuing high-risk, high-return opportunities at the earliest stages and betting on established players with proven track records.

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Image Credit: Manuel on Unsplash

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At e27, we believe that showcasing the growth of startups in Southeast Asia is key to opening doors—whether it’s to potential investors, partners, or customers. Our mission is to shine a spotlight on the incredible work founders are doing across the region. That’s why we created the Milestone feature—so you can share your company’s latest wins and get discovered.

Are you a founder? Create your company profile here and share your milestones here.

Each week, startups from across Southeast Asia use the Milestone feature to share major updates—from funding and product launches to partnerships and international expansions. These updates not only celebrate their achievements but also inspire other founders to keep building and innovating.

Here are 10 companies that recently shared exciting developments on e27

• Newell Road – Pre-seed investment round from Antler

Malaysian AI company Newell Road, which automates market research and business reporting, has secured US$110,000 in pre-seed funding from Antler as part of the Antler Malaysia Residency.

• Soniox – Launch of Soniox Compare

Soniox Compare lets users test Soniox’s real-time voice AI against other major providers—including OpenAI, Google, and Azure—using identical audio under the same conditions.

• Momos – Tech and team expansion

Momos has opened a new Tech Hub in Vietnam and achieved 3× business growth. By early 2025, it had grown into a global team spanning eight countries and marked its 4th anniversary at its Bangkok offsite, scaling rapidly since 2021.

• Data Copilot by IotaJ Sdn Bhd – First customer onboarded

Within just seven months of receiving funding from Antler, Data Copilot onboarded its first client—Bahria Town, Asia’s largest private real estate developer. The team built, tested, and implemented the product during this period.

• Markovate – AI blueprint classifier

Markovate introduced an AI-powered computer vision tool that automates the classification, labelling, colouring, and measurement of technical drawings. It reduces manual marking errors by up to 90 per cent, speeds up reviews by 30 per cent, and cuts labour costs by 15 per cent.

• Graas.ai – Launch of Agent Foundry

Graas.ai has launched Agent Foundry, a proprietary environment where domain experts fine-tune AI agent behaviour using real-world workflows, prompt chaining, and robust evaluation suites—each designed for distinct eCommerce business needs.

• Addlly AI Pte Ltd – Modular AI marketing agent suite

In January 2025, Addlly AI rolled out AI agents for every stage of content operations—SEO blogs, social media, ads, and internal communications. These agents can run independently or in workflows to help teams scale output while staying on-brand.

• Earlybird AI – Partnership with Payboy for payroll automation

Through a new partnership with Payboy, Earlybird AI enables AI-powered payroll automation for Singapore SMEs, offering a seamless solution for payroll, CPF, and personal tax processing.

• PowerArena – Outstanding AI Innovation Application Award

At the 14th China Finance Summit in 2025, PowerArena won the Outstanding AI Innovation Application Award for its Human Operation Platform (HOP), beating over 1,000 companies for its real-world AI impact in manufacturing.

• Priyoshop – Expansion with Green Hub in Pirojpur

Priyoshop has expanded its smart distribution network in the Barisal division with a new Green Hub in Pirojpur, supporting thousands of MSMEs with financing, tech-enabled growth, and brand access.

Startups across Southeast Asia are making bold moves and breaking new ground—and you can too. Whether you’ve closed a funding round, launched a new product, or expanded into a new market, your story deserves to be heard. Create your company profile and share your milestone on e27 to inspire the community and open doors to new opportunities.

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Indonesia’s digital economy is demonstrating remarkable resilience and growth, with the latest East Ventures – Digital Competitiveness Index (EV-DCI) 2025 report unveiling a consistent upward trajectory across the archipelago.

This sixth edition of the report, a collaborative effort by East Ventures and Katadata, reaffirms Indonesia’s path towards digital economic prosperity and its ambition to achieve “Golden Indonesia 2045”.

Consistent growth and narrowing gaps

The EV-DCI 2025 findings are overwhelmingly positive, with the median score increasing by 0.7 points to 38.8. This consistent annual improvement since the report’s inception five years ago underscores the ongoing expansion of Indonesia’s digital economy.

Also Read: The great decline: How Indonesia’s tech funding hit a 3-year low

Furthermore, the digital divide between regions is steadily narrowing, evidenced by a decrease in the standard deviation of scores between provinces, from 10.6 in 2024 to 9.7 in 2025. The gap between the highest and lowest scoring provinces has also shrunk from 60.4 to 56.9, signalling progress towards greater regional digital equity.

In a testament to nationwide development, 34 out of 38 provinces recorded an improvement in their DCI score, with only four experiencing minor declines. This suggests that provinces previously lagging are now actively closing the gap with digitally leading regions, reflecting a broader trend towards more inclusive development. This is a crucial insight for foreign investors and startups, as it indicates a widening base for digital adoption and economic activity beyond traditional urban centres.

Foundation for future prosperity

The report reinforces the belief that strategic investments in digital infrastructure, targeted literacy programmes, and inclusive policy initiatives have been pivotal in empowering more regions to participate in the digital economy.

Looking ahead, technological innovations such as Artificial Intelligence (AI), Internet of Things (IoT), blockchain, and 5G are expected to further enhance the nation’s digital competitiveness. These technologies are not merely drivers of digital transformation but are also instrumental in accelerating productivity and enabling more thoughtful decision-making across various sectors.

This forward-looking approach positions Indonesia as an attractive hub for deep-tech innovation and deployment, particularly for Singapore-based startups looking to expand their footprint in Southeast Asia.

Digital economy’s expanding contribution

Indonesia’s digital economy continues its rapid ascent, with its Gross Merchandise Value (GMV) reaching US$90 billion by 2024, marking a 13 per cent increase compared to 2023. This growth was predominantly fuelled by the sustained adoption of digital technologies and a surge in online transactions, with e-commerce remaining a primary driver.

The digital sector’s contribution to Indonesia’s Gross Domestic Product (GDP) reached 4-5 per cent in 2024. The government has set an ambitious target to increase this contribution to 20 per cent of GDP by 2045, firmly establishing the digital economy as a key pillar of the national economic framework. This ambitious target, coupled with an internet penetration rate projected to approach 82 per cent (over 230 million users) by 2025, according to the Indonesian Internet Service Providers Association (APJII), paints a picture of a robust and expanding digital market.

Also Read: Indonesia’s AI adoption lags despite growing digital economy, says East Ventures report

Such consistent progress, despite global economic uncertainties and rising geopolitical tensions, solidifies Indonesia’s competitive edge and underscores the vast opportunities available within its burgeoning digital landscape.

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The image was generated using ChatGPT.

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A wave of cautious hope surrounding a potential Russia-Ukraine ceasefire has buoyed global risk sentiment, propelling US stock markets to their strongest weekly performance since June. The S&P 500 climbed 0.8 per cent, the Nasdaq surged one per cent, and the Dow Jones edged up 0.5 per cent, primarily driven by a rally in big technology stocks. This optimism stems from reports of diplomatic engagements, including a confirmed meeting between Presidents Vladimir Putin and Donald Trump, which has sparked speculation about a possible de-escalation in the Russia-Ukraine conflict.

Such a development could alleviate a significant geopolitical overhang, fostering a more favourable environment for risk assets. This positivity is tempered by uncertainties in US monetary policy, trade dynamics, and the evolving role of cryptocurrencies, particularly stablecoins, in reshaping global finance.

The US stock market’s recent gains reflect a broader market narrative of resilience amid geopolitical and economic crosscurrents. The technology sector, a perennial driver of market momentum, has been at the forefront, with companies like Nvidia and AMD playing pivotal roles. Reports indicate that these chipmakers have agreed to remit 15 per cent of their China chip sales revenue to the US government to secure export licenses, a move that underscores the intricate balance between national security and economic interests.

This agreement, while facilitating continued access to the lucrative Chinese market, has sparked debate about its legality under the US Constitution, which prohibits export taxes. Critics argue it could set a precedent for unconventional trade policies, while supporters view it as a pragmatic compromise to maintain technological competitiveness. The deal highlights the strategic importance of semiconductors in global trade, particularly as tensions between the US and China intensify. Despite these complexities, the tech-driven rally in US equities signals investor confidence in the sector’s long-term growth prospects, even as trade uncertainties loom.

In the bond market, US Treasuries experienced a decline last Friday, with yields rising by 3 to 5 basis points across the curve in a subdued trading session. Investors remain focused on the Federal Reserve’s leadership transitions, particularly President Trump’s nomination of Stephen Miran, Chairman of the Council of Economic Advisers, for a Fed governor role. This appointment has fuelled speculation about a potential shift toward a more dovish monetary policy stance, as Miran’s economic philosophy aligns with Trump’s preference for lower interest rates to stimulate growth.

The US Dollar Index, which dipped 0.22 per cent, later recovered some ground following this news, reflecting market sensitivity to Fed leadership changes. The anticipation of upcoming inflation data, with the Consumer Price Index (CPI) report due on Tuesday and the Producer Price Index (PPI) report on Thursday, adds another layer of complexity.

Federal Reserve Chair Jerome Powell’s recent comments at the Federal Open Market Committee meeting, suggesting that a September rate cut is less likely and will hinge on macroeconomic data, have tempered expectations for immediate easing. These reports will be critical in shaping the Fed’s policy trajectory, as persistent inflationary pressures could force a more hawkish stance, impacting both equity and bond markets.

Also Read: ASEAN’s regionalism strategy: Building unity in a depolarised world

Geopolitical and policy developments have also swayed commodity markets. Gold prices surged to nearly US$3,400 per ounce after a US government agency ruled that gold bars would be subject to duties, triggering volatility in bullion markets. The White House’s promise of a forthcoming clarification has done little to quell uncertainty, as investors grapple with the potential cost implications for gold as a safe-haven asset.

Meanwhile, Brent crude prices remained unchanged after a volatile session, reflecting the market’s indecision amid ceasefire optimism and ongoing geopolitical risks. The stability in oil prices suggests a wait-and-see approach, as traders assess whether reduced tensions in Eastern Europe could ease supply concerns or if other global factors, such as US tariffs, might sustain price pressures.

In Asia, equity indices opened with mixed performance, signalling varied regional responses to global developments. US equity index futures, however, point to a positive opening, suggesting that the momentum from last week’s rally may persist. This divergence underscores the fragmented nature of global risk sentiment, where local economic conditions and policy responses shape market outcomes.

For instance, Hong Kong’s Hang Seng index has benefited from a recovery in Chinese technology stocks, driven by President Xi Jinping’s public engagement with tech leaders, signalling a potential easing of regulatory pressures. This contrasts with mainland China’s more subdued market performance, highlighting the nuanced dynamics within Asian markets.

The cryptocurrency market has emerged as a focal point of investor enthusiasm, propelled by significant policy shifts in the US Bitcoin soared past US$121,000, and Ethereum reached US$4,300, fuelled by President Trump’s executive order exploring the inclusion of cryptocurrencies in 401(k) retirement accounts. This move, which also considers private equity, could unlock substantial demand by opening millions of American retirement portfolios to higher-risk assets.

Spot Ethereum exchange-traded funds (ETFs) have outpaced Bitcoin ETFs, attracting US$461 million in inflows over the past week, reflecting robust institutional interest. Ethereum’s price, now 11 per cent below its all-time high of US$4,878, may continue to outperform Bitcoin if these inflows persist. The influence of large corporate treasuries, as noted by industry expert Anndy Lian, underscores their role in driving price action. Lian’s assertion that investors should remain steadfast as long as these treasuries continue buying highlights the market’s reliance on institutional momentum.

Also Read: From dollars to digital coins: Tariffs shake the financial world

Stablecoins, a subset of cryptocurrencies pegged to assets like the US dollar or Bitcoin, are reshaping the competitive landscape between the US and China. In Hong Kong, new legislation aims to position the city as a global hub for stablecoins and Web3 technologies, which leverage blockchain for decentralised internet applications. This strategic pivot seeks to restore Hong Kong’s stature as a financial powerhouse amid intensifying global competition.

In the US, the Trump administration’s embrace of cryptocurrencies, bolstered by campaign support from crypto advocates, signals a proactive approach to integrating digital assets into mainstream finance. The passage of stablecoin regulations in both jurisdictions underscores their potential to revolutionise global finance by offering stable, blockchain-based alternatives to traditional currencies. This rivalry carries risks, as stablecoins could disrupt monetary policy frameworks and challenge the dominance of fiat currencies like the dollar and renminbi.

From a personal perspective, the convergence of these developments paints a picture of a world at a financial crossroads. The optimism surrounding a potential Russia-Ukraine ceasefire offers a glimmer of hope for stabilising global markets, but the path forward remains fraught with uncertainty. The US stock market’s resilience, driven by technology giants, reflects a broader trend of innovation outpacing geopolitical and economic headwinds. The reliance on tech stocks raises concerns about market concentration and vulnerability to sector-specific shocks.

The Federal Reserve’s cautious stance on rate cuts, coupled with upcoming inflation data, suggests that monetary policy will remain a critical determinant of market direction. The cryptocurrency surge, particularly in stablecoins, signals a transformative shift toward decentralised finance, but it also introduces new risks, including regulatory ambiguity and market volatility. The US-China rivalry over stablecoins and Web3 technologies underscores the strategic importance of digital innovation, but it also highlights the potential for economic fragmentation if competitive tensions escalate.

As markets continue to evolve, adaptability and informed decision-making will be paramount in capitalising on emerging opportunities while mitigating inherent uncertainties.

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Nibertex, a Singapore- and Philippines-based deeptech startup specialising in waterproof breathable membranes, has closed its US$7 million Series A funding round led by TNB Aura, with participation from existing investors Asian Development Bank (ADB), Faircrest Holding, and Foxmont Capital Partners.

This round comes nearly seven months after the firm announced closing its pre-A round in February with Foxmont and ADB.

Also Read: Korean brothers’ startup Nibertex develops chemical-free fabric for sustainable textiles

The news funding will be deployed across several key areas to meet the rapidly expanding market demand:

• Expanding manufacturing capacity: Capital expenditure will be deployed to significantly increase output.
• Advancing R&D: Accelerating the development of membrane applications for industries beyond apparel.
• Deepening market reach: Scaling go-to-market efforts and securing strategic partnerships with global brands.

The investment comes at a crucial time as the global materials industry faces intense scrutiny over per- and polyfluoroalkyl substances (PFAS). These synthetic chemicals are commonly found in products such as rain jackets, activewear, medical gowns, food packaging, and non-stick cookware, where they provide water and stain resistance.

However, PFAS are now widely recognised for their persistence in the environment and are linked to serious health concerns.

With bans accelerating across the US, European Union, and Asia-Pacific, manufacturers are under increasing pressure to find high-performance alternatives. Nibertex addresses this critical challenge with its proprietary electrospinning, also known as nanospinning, technology and formula.

Founded in 2019 by Jae H Park and his brother Jae M, Nibertex has developed a proprietary manufacturing process enabling scalable production of its PFAS-free membranes. These membranes are engineered to be ultra-soft, silent, stretchable, and designed to disappear into the textile. They are ideal for various applications, including performance apparel, healthcare, industrial, and consumer products.

Also Read: Nibertex secures funding for sustainable textile technology

Nibertex’s success is indicative of a broader industry shift towards sustainable manufacturing practices and stricter regulatory compliance within the textile sector. As governments worldwide implement more stringent PFAS regulations, companies like Nibertex, which offer proven alternatives, are becoming increasingly valuable to manufacturers seeking to future-proof their operations.

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In 2024, global IT and digital transformation provider Softline Group expanded into Southeast Asia by opening new offices in Indonesia and Vietnam. These moves were part of a broader international strategy, reflecting the company’s commitment to long-term regional engagement across Southeast Asia, Central Asia, and the Middle East. This also includes new offices in Kazakhstan, Uzbekistan, and the UAE.

With a population of over 680 million and strong economic growth, Southeast Asia presents significant opportunities for innovation. Governments across the region are driving digital transformation through national programs. At the same time, businesses face growing demand for connected services and secure digital infrastructure.

Ivan Gorkovenko, Ivander Hery, and Hans Saiya from Softline Group discuss their expansion strategy, the importance of localization, and how technologies like AI and cybersecurity are shaping the region’s future below.

Inside Softline’s expansion across Southeast Asia

Softline’s entry into Southeast Asia was driven by both strategic foresight and local opportunity. “Southeast Asia was not just a next step – it was a deliberate choice,” said Ivan Gorkovenko, Regional Director for Southeast Asia. “We saw unmatched growth potential in areas like digital payments, e-commerce, and public sector modernization.”

The company’s investments in Vietnam and Indonesia were aligned with major national agendas like Making Indonesia 4.0 and Vietnam’s National Digital Transformation Program, both of which aim to build robust digital ecosystems. “With 680M people and 5%+ GDP growth, SEA is not just a growth market – it’s a digital innovation hub,” Gorkovenko added.

Localization in action: Adapting to regulatory and infrastructure needs

As regional adoption of digital tools accelerates, Softline emphasizes local relevance through language, infrastructure, and compliance. “We don’t just translate the interface,” said Ivander Hery, Sales Manager. “We ensure compliance with regulations such as Indonesia’s Law No. 27 of 2022 on Personal Data Protection.”

To meet varying requirements, Softline has adapted its security audit framework to match the standards of Indonesia’s Badan Siber dan Sandi Negara (BSSN) or national cyber and crypto agency. It also deployed hybrid cloud systems in Vietnam, ensuring full compliance with the Personal Data Protection Act (PDPA).

This localized approach is also reflected in how services are delivered. “Clients can access any Softline service tailored to their specific stage in the business lifecycle,” Hery noted, referencing sectors like government, healthcare, and education.

Also read: ASEAN’s regionalism strategy: Building unity in a depolarised world

Supporting digital transformation across urban and remote areas

Beyond urban centers, Softline is focused on closing gaps in access and capacity. “We want to be a key player in enabling Indonesia to achieve its digital transformation goals and ensure that technology benefits everyone, even in the most remote areas,” Hery said.

The company is working with local partners on efforts such as localized Security Operations Centers (SOCs), training programs in Bahasa Indonesia and Vietnamese, and community-based digital literacy centers. These efforts align with broader national goals, including Indonesia Golden 2045.

The digital economy boom: Opportunities in a thriving SEA market

Southeast Asia’s digital economy is growing at 17 percent annually and could reach $295 billion by 2025. According to Gorkovenko, this growth is reshaping customer expectations: “Businesses and consumers alike are now expecting seamless, omnichannel experiences… hyper-personalization, phygital engagement, and secure digital payments.”

With digital platforms like Grab, Shopee, and Gojek setting new standards, companies are seeking scalable, API-first infrastructure. Softline is responding with unified commerce solutions and AI-powered tools that connect physical and digital operations.

Still, infrastructure gaps in markets like Indonesia present challenges. “The pace of change is relentless… technology adoption is now a key driver of growth and competitiveness in the region,” Gorkovenko said.

Championing technological sovereignty through local innovation

Countries like Indonesia and Vietnam are increasingly focused on technological sovereignty. They are developing their own digital infrastructure and reducing dependence on foreign platforms. “It is about strategic autonomy,” said Hery, “the ability to control your own digital destiny.”

Softline supports this through compliance-first solutions, domestic infrastructure, and partnerships with agencies like Indonesia’s BSSN and Vietnam’s Authority of Information Security (AIS). “We apply global frameworks but adjust them to local encryption norms, compliance laws, and talent realities,” explained Hans Saiya, Cybersecurity Solution Sales Manager.

Softline is also investing in inclusive access through public-private partnerships, affordable tech programs, and national initiatives like Bangga Buatan Indonesia and Make in Vietnam.

Also read: Indonesia’s digital index rises again, regional gaps narrow

Cybersecurity first: Building stronger defenses through technology and training

For Softline, cybersecurity is a central pillar of its strategy. The company deploys real-time Security Operations Centers in collaboration with local Managed Security Services Providers (MSSPs). It also integrates its services with national cybersecurity guidelines.

But defense is not just about technology. “Even the best security technology can falter without proper awareness among staff,” Saiya said. Softline offers role-specific training programs that include simulations, phishing tests, and risk-based assessments. “Our training targets the exact threat landscapes that correspond to each role,” he added.

These efforts are designed to strengthen security cultures while supporting compliance with frameworks like ISO 27001, GDPR, and PCI-DSS.

Looking ahead: Softline’s vision for a smarter, more connected SEA

Softline’s goals over the next three years include raising brand visibility, expanding innovation clusters, and continuing to localize cutting-edge solutions. “We are already actively investing in regional marketing and participating in major trade shows,” said Gorkovenko.

By aligning its efforts with both government policy and business demand, Softline is aiming to become a long-term partner in shaping Southeast Asia’s digital future. In doing so, they are connecting global innovation with local transformation.

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Featured Image Credit: Softline

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The Asia Pacific region is emerging as a significant force in the global quantum computing market, fuelled by rapid government intervention, strategic funding, and the formation of new startup hubs.

While the US continues to dominate quantum tech investment—capturing approximately 78 per cent of the global total in 2024—Asia Pacific is accelerating its pace, both in funding commitments and in research capabilities.

Countries such as Japan, Australia, South Korea, Singapore, and China increasingly position themselves as competitive players where cutting-edge hardware, advanced algorithms, and secure communication networks will define technological leadership.

According to McKinsey’s Quantum Technology Monitor 2025, targeted public investments and emerging entrepreneurial clusters shape Asia Pacific’s growth. In 2024 alone, five of the world’s 19 newly founded quantum tech startups originated from Asia.

This growth is driven by national quantum strategies and strategic partnerships designed to scale capabilities in quantum computing and related fields. Governments across the region are focusing on building sovereign capabilities, attracting global talent, and fostering cross-border collaborations.

Japan leads regional public funding announcements

Japan has made one of the most significant public funding pledges globally for quantum tech, committing US$7.4 billion in 2025 towards next-generation chip and quantum computing research. This ambitious move signals Japan’s intention to play a defining role in research and commercial deployment, particularly in high-performance and fault-tolerant quantum systems.

Also Read: AppWorks turns 15: Showcasing SEA’s next-gen AI, Web3, deep tech startups

The scale of this funding underscores Japan’s long-term commitment to becoming a hub for advanced computing innovation, with implications for sectors ranging from materials science to secure communications.

Australia accounted for roughly eight per cent of global quantum tech startup investment in 2024, bolstered by a high-profile US$620 million package from the Australian Commonwealth and Queensland governments. The funding supports PsiQuantum, a US-based quantum hardware manufacturer, in building a utility-scale, fault-tolerant quantum computer in Brisbane.

This project is expected to enhance Australia’s role as a location for large-scale quantum infrastructure while strengthening ties with international industry leaders.

South Korea is pursuing a long-term national goal to become a global leader in quantum science and tech. Its US$2.3 billion investment plan, which spans 2035, aims to build domestic capabilities in quantum computing, quantum communication, and quantum sensing. This approach positions the country for technological competitiveness and potential export opportunities in a rapidly evolving market.

Singapore, meanwhile, has taken a targeted approach through its National Quantum Strategy, allocating about US$222 million over five years. This funding is focused on quantum research, infrastructure development, and talent training, aiming to maintain Singapore’s role as a research and innovation hub within Southeast Asia.

The strategy also emphasises partnerships between academia, government, and industry to drive adoption.

China remains a unique case in the Asia Pacific quantum computing landscape. Although commercial investment data for Chinese startups is limited, the country leads globally in quantum computing-specific patent applications, accounting for about 32 per cent of filings worldwide, surpassing the US share of around 22 per cent.

Also Read: Nibertex bags US$7M to push boundaries in breathable waterproof materials

Government investment in quantum research and development exceeds US$15 billion, strongly focusing on defence, national security, and artificial intelligence applications. Much of this activity is concentrated in government-funded research institutions with limited public disclosure.

Changing global investment dynamics

Globally, investment in quantum tech startups grew by about 50 per cent year-on-year to reach US$2 billion in 2024, up from US$1.3 billion in 2023.

Over 80 per cent of this funding was directed toward quantum computing, with superconducting tech receiving the largest share, followed by photonic networks. The top two global deals—PsiQuantum’s US$624.63 million round and Quantinuum’s US$300 million raise—accounted for nearly half of the total value, underlining the concentration of capital in a small number of high-profile ventures.

Public funding now accounts for 34 per cent of all quantum technology investment, up from 15 per cent in 2023, reflecting growing government interest in supporting early-stage and high-risk ventures.

Investors are increasingly shifting their attention toward emerging startups that are less than four years old and mature companies with proven tech, while scaling-stage ventures attract less relative interest.

In 2024, most new startups globally emerged in the components and application software segments, highlighting a shift in value creation toward software development while maintaining steady demand for hardware-agnostic components. This diversification suggests that complementary solutions and integration tools will play a larger role in commercial ecosystems as quantum computing tech matures.

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Image Credit: Nicolas Arnold on Unsplash

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