H3 Zoom, a Singapore-based deeptech startup specialising in AI-powered inspection and asset management for critical infrastructure, has announced a US$1.8 million first close in its Series A funding round.

The investment was led by JRE Ventures, the corporate VC arm of JR East, with participation from SGInnovate and M7 Holdings.

The capital is earmarked to significantly expand H3 Zoom’s Asian footprint, with an immediate focus on Japan and Hong Kong, while simultaneously deepening current operations in Singapore.

Also Read: Transforming asset inspections: How WaveScan’s smart sensors and AI are shaping predictive maintenance

The funding will also accelerate product R&D, as well as strengthen engineering and go-to-market teams.

Shaun Koo, CEO and founder of H3 Zoom, commented: “This funding allows us to turn building data into actionable maintenance decisions at scale — shortening inspection cycles, reducing rectification costs, and improving public safety.”

Founded in 2016, H3 Zoom combines proprietary vision language models and robotics-enabled data capture to help asset owners and operators transition from manual, labour-intensive inspections to scalable, data-driven solutions.

Through the use of drone capture and automated defect analytics, the platform delivers tangible efficiency gains. This includes lowering operational and access costs compared to traditional inspection methods, improving safety by reducing the need for prolonged work-at-height activities, and standardising reporting for the Building and Construction Authority’s Periodic Façade Inspection (BCA PFI) submissions with greater traceability.

Its technology has been deployed across multiple high-rise buildings, transport assets, and critical infrastructure within Singapore.

For the JR East Group, ensuring the safe and sustainable operation of diverse assets—including railways, stations, commercial facilities, and hotels—is a shared priority. JRE Ventures intends to accelerate H3 Zoom’s business expansion and proof-of-concept activities in the Japanese market, while actively exploring broader collaboration opportunities across Southeast Asia.

Also Read: Operva AI elevates facade inspections with autonomous drone, collaborative cloud platform

Looking ahead, the startup is fast-tracking its AI roadmap, which includes launching the AI Engineering Co-Pilot, deepening multimodal workflows (360° imagery with voice notes), and strengthening enterprise-grade APIs. The company is also piloting robotics-assisted inspections to surface latent defects more safely.

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NTT DOCOMO Ventures and NTT Finance Corporation today announced at the NTT Startup Challenge Pitch Day event in Jakarta that they will jointly establish a new investment vehicle, Synexia Ventures.

The investment vehicle will be established on December 15 and aims to strengthen collaboration with promising startups in Southeast Asia (SEA). For Japanese companies, the region is increasingly transforming from a manufacturing base into a hub for innovation creation.

Synexia Ventures will target startups in countries such as Singapore, Indonesia, Malaysia, and the Philippines, focusing on fields that are NTT Group’s strategic priorities: AI, IoT, smart cities, robotics, and drones.

Based in Singapore, it will be jointly managed by Kuan Hsu (General Partner of KK Fund), along with NDV and NTT Finance. Kuan Hsu will lead on-the-ground operations in SEA, leveraging his deep VC experience in the region while working closely with NDV and NTT Finance’s investment teams.

Also Read: H3 Zoom lands US$1.8M to accelerate AI-powered building inspections in Japan, HK

Since 2017, NTT Group has promoted collaboration with SEA startups through the NTT Com Startup Challenge, organised by NTT DOCOMO BUSINESS. In response to the strong momentum for new business creation among NTT Group companies in Southeast Asia, the programme was expanded in 2024 to encompass the entire NTT Group and evolved into the NTT Startup Challenge.

On November 11, at the NTT Startup Challenge Pitch Day in Jakarta, approximately 1,200 startups from across Asia interested in collaborating with the NTT Group have applied. Ten startups selected from among the applicants will present their businesses and collaboration proposals with NTT Group.

NDV and NTT Finance will promote the NTT Group’s business development in SEA and the creation of new value through open innovation by leveraging this new investment vehicle.

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Image Credit: NTT Group

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The long-rumoured merger between Southeast Asia’s tech titans, Grab and GoTo, has once again captured headlines; this time with the highest level of political validation yet.

Indonesia’s Minister of State Secretariat, Prasetyo Hadi, confirmed that talks between the two companies are indeed underway, even hinting that one could soon absorb the other. His remarks add fresh weight to speculation that the country’s sovereign wealth fund, Danantara, may play a role in managing assets tied to the merger, aligning with broader regulatory plans to formalise the status of online motorcycle taxi drivers.

Yet, GoTo continues to push back. In an official statement, the company denied any merger agreement or ongoing corporate action with Grab, reaffirming its commitment to good governance and stakeholder protection. Its upcoming extraordinary shareholders’ meeting in December, it insisted, is unrelated to any consolidation plans.

This tension—between government confirmation and corporate denial—reflects both the sensitivity and potential magnitude of a Grab-GoTo deal. If realised, the merger could reshape Indonesia’s digital economy, streamline competition, and influence regional dynamics in ride-hailing and fintech.

For now, the market waits, watching closely as whispers of consolidation grow louder in Southeast Asia’s increasingly competitive super app arena.

REGIONAL

Indonesia’s minister confirms Grab-GoTo merger is on the table: Minister Prasetyo Hadi confirms Grab and GoTo are moving toward a merger, with state agency Danantara possibly managing assets and oversight.

GoTo says no merger decision made with Grab: The company said there has been no decision or agreement regarding any merger or corporate action with Grab. The company said its follows regulations for public companies and will prioritise the interests of shareholders, drivers, small businesses, and consumers.

SoftBank, other shareholders seek to remove GoTo CEO: They want Patrick Walujo to be replaced after the company’s market value dropped by more than 40% during his tenure. Shareholders have requested an extraordinary general meeting to propose a vote on leadership changes.

Kaya Founders raises US$25M fund to back early-stage startups: The new fund comprises two vehicles targeting founders from pre-seed through series A stages. Kaya Founders has backed more than 40 startups in sectors such as e-commerce, fintech, education, and healthcare.

Philippines lending fintech firm OneLot raises US$3.3M to expand used car loans: Investors include Accion Ventures, 468 Capital, and Seedstars. The platform provides inventory loans and digital solutions to help used car dealers manage and finance vehicle purchases.

MAS, Indonesia’s OJK renew fintech partnership to boost innovation: MAS and OJK plan to share knowledge, promote industry cooperation, refer fintech firms to each other’s regulatory sandboxes, and enable cross-border information sharing within legal boundaries.

SEA digital economy to surpass US$300B by 2025: report: E-commerce GMV is projected to hit US$185B, with video commerce contributing about 25%. Food delivery GMV is expected to reach US$23B, while revenue nears US$2.4B, with most platforms now profitable or close to it.

Philippine startup funding drops 32%: Gobi Partners: The deal volume declined 54% year-on-year. The report cites the slowdown to tighter global liquidity, governance issues, and corruption scandals affecting investor confidence.

Temasek shifts focus to growth, late-stage startups: It will reduce direct investments in early-stage startups. The Singapore state investor aims to prioritise businesses with established models and clearer unit economics.

Asia rises in the AI chip race: China to outgrow US by 30% by 2030: AI chip revenues will hit US$330B by 2030, with China leading global growth at 283%—outpacing the US and reshaping Asia’s role in semiconductor innovation.

Transcelestial secures additional funding to strengthen Japan’s disaster-resilient networks: Backed by MPower and SEEDS, Transcelestial will deploy laser links across Japan’s defence, disaster response, and satellite networks.

H3 Zoom lands US$1.8M to accelerate AI-powered building inspections in Japan, HK: Investors include JRE Ventures, SGInnovate and M7 Holdings. H3 Zoom helps asset owners and operators transition from manual, labour-intensive inspections to scalable, data-driven solutions.

Singapore’s Bioactivx nets US$1.4M seed led by Cocoon Capital: The company develops synthetic regenerative implants, including its main product, Bioactiv Matrix, a bio-inspired skin substitute for wound care. Bioactivx said the funding will support clinical trials and regulatory approval for Bioactiv Matrix.

Singapore’s AI startup PowerCred raises US$1.1M to accelerate expansion: Lead investors are TNB Aura and Tenity. PowerCred focuses on transforming unstructured documents for enterprises. It said it processes over 1M documents quarterly for clients in SEA.

REPORTS, FEATURES & INTERVIEWS

High adoption, low understanding: The Philippines’s blockchain knowledge gap: Philippine blockchain adoption is driven by speculation, not comprehension — education, regulation, and transparency are key to long-term progress.

Inside Philippines’s blockchain paradox: Strong adoption, weak foundations: Blockchain innovation in the country lags due to poor connectivity, scarce venture funding, and narrowly focused crypto regulations.

INTERNATIONAL

Subsidiaries shine, parent falters: The real story of Kakao’s Q3: The most striking detail hidden within the strong headline figures is the divergence between the consolidated net profit and the amount attributed to Kakao’s core shareholders.

SoftBank profit jumps on soaring AI valuations: The Tokyo-based conglomerate reported a net income of US$16.2B in Q2, beating analyst expectations by a wide margin. It saw its profit rise mainly due to higher valuations of its holdings in AI and chip companies such as Nvidia and Intel.

Microsoft’s Copilot taps influencers to rival ChatGPT, Gemini: The company’s Copilot assistant has 150M monthly active users, trailing behind OpenAI’s ChatGPT with 800M weekly users and Google’s Gemini at 650M monthly users.

South Korea’s WeMakePrice declared bankrupt by Seoul court: A Seoul court has ordered the liquidation of the e-commerce platform operator, after ending its rehabilitation process in September. WeMakePrice and TMON entered court-led rehabilitation in July 2024 due to missed payments to vendors amid liquidity problems.

Japanese investors back US$38.1B into European tech startups: This marks a sharp rise from the US$6.1B invested in the five years before the EU-Japan Economic Partnership Agreement took effect. Mitsubishi, Sanden, Yamato Holdings, and Marunouchi have been active backers.

Intel CTO exit to join OpenAI, CEO Tan takes over AI oversight: Sachin Katti, who became Intel’s CTO and chief AI officer in April, will help design and build OpenAI’s compute infrastructure for artificial general intelligence research.

ECHELON

From legacy to lift-off: How AI is driving scalable growth in complex industries: By prioritising practical adoption over radical change, AI innovators can drive sustainable impact across traditionally intricate industries.

From prospects to progress: Unlocking a thriving climate tech ecosystem in SEA: Referencing an ESCAP report that warns the region has just five years left to meet its decarbonisation goals, speakers underscored that urgency often drives innovation.

Hiring for AI startups: Building high-impact teams from day one: Despite automation reshaping roles, demand remains strong for data scientists, UX/UI designers, and other AI-related professionals who can bridge technical and human-centred aspects of innovation.

SEMICONDUCTOR

SoftBank sells its entire stake in Nvidia for US$5.8B: The firm said in its earnings statement that it sold 32.1M Nvidia shares in October. SoftBank’s investments in OpenAI and PayPay helped it post a US$19B gain on its Vision Fund in its fiscal second quarter.

TSMC posts record October sales on AI demand: The Taiwan-based chipmaker generated US$11.9B. Sales rose 16.9% year-on-year and 11% from September, surpassing its previous monthly high of US$10.8B set in April. For Q4, TSMC projected revenue between US$32.2B and US$33.4B.

Nvidia CEO sees strong demand for Blackwell chips: Jensen Huang noted that Nvidia relies on TSMC to produce the wafers needed for these chips but did not disclose specific order numbers. He added that Nvidia’s success depends on TSMC’s support, marking his fourth trip to Taiwan in 2025.

AI

South Korea to invest US$960M in developing AI talent: The plan, called “AI Talent Development Plan for All,” aims to support AI education from elementary school to postgraduate research, and seeks to address a shortage of skilled AI professionals in the country.

The use of GenAI is turning innocent employees into insider threats: Here’s how to fix it: GenAI use in workplaces exposes new insider threats, making hardware-level zero trust vital to protect data beyond traditional security.

THOUGHT LEADERSHIP

Turning turmoil into opportunity: Singapore’s playbook: Amid global trade wars and slowing growth, Singaporean leaders urge diversification, digital innovation, and ASEAN cooperation to safeguard competitiveness and ensure long-term business resilience.

The hustle’s toll: Why some of Southeast Asia’s brightest founders are stepping back: Startup founders in the region are quietly redefining resilience as burnout and mental health awareness reshape the region’s startup culture.

Open source: The secret to boosting Singapore’s startup ecosystem: Singapore’s startups face talent shortages and rising competition. Embracing open source offers faster innovation, global collaboration, and secure scaling to stay competitive.

On-chain data and Web3 security: Insights from industry experts: Experts from SlowMist, BugRap, Bybit, and SMU explored how on-chain data analytics enhances Web3 security through real-time monitoring, fraud detection, and predictive risk intelligence.

Why Bitcoin decoupled from Nasdaq and what it means for the US$112K breakout: Markets rallied as the US shutdown nears resolution, with crypto buoyed by CFTC regulation hopes, Uniswap’s token overhaul, and Bitcoin strength.

The essential authority: Redefining influence in an age of endless noise: Amid the noise of performative leadership, real influence demands self-mastery, clarity, and courage to shape the unspoken conversations defining tomorrow’s world.

Resource Multiplier Effect: How smart teams create more with less: The Resource Multiplier Effect shows how founders achieve outsized growth by combining time, talent, capital, and networks—turning limited resources into compounding advantage.

How to build a scalable IT infrastructure for your startup: Building scalable IT infrastructure early ensures startups can grow efficiently, reduce legacy costs, and stay competitive with emerging technologies like AI and cloud-based solutions.

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How food is produced, how food is consumed and how food is distributed is ripe for substantial changes.

Addressing the challenges posed by our ever-changing climate requires an agile approach with policies, education and technology taking centre stage. From diminishing water resources to extreme weather events, the impacts cascade through every link of the food supply chains. 

Food waste has exposed vast inefficiencies in our food supply chains. It is estimated that between 691 and 783 million people in the world faced hunger in 2022. The number of people facing hunger in Africa has increased by 11 million people since 2021 and by more than 57 million people since the outbreak of the pandemic.

Milder winters and warmer springs may seem like a win for some of us who enjoy the sunshine-filled days. However, it can cause major disruption to our food supply chains. In many regions now dealing with extreme heat, such as the Mediterranean, farmers are facing challenges with the optimal production of their fruit and vegetables. Both require seasonality to achieve the right levels of production. 

Furthermore, climate vulnerable countries are exporting more than ever when they may themselves be short in supply, given the increased demand and stagnant production. 

Today, many of us take our nicely packed supermarket shelves for granted. However, the future may present a very different picture as scarcity creeps in, and we continue to feel the effects of climate on our food security.

Record numbers of people visiting food banks 

Across the United States, according to the US Department of Agriculture, food insecurity occurs when households are unable to acquire adequate food because they have insufficient money and other resources. The cost of living crisis is having a widespread impact on the food security of the general population, with many food banks struggling to meet the record demands. 

Also Read: The climate change and gender equality connection: How to support underfunded women-owned business

Just last year, the Guardian newspaper reported a record number of households in the UK depending on food banks. This isn’t a remote problem in the UK. It is also being reported on in the US and Canada with supply issues and out-of-control costs affecting the working class. 

This is a great concern as most working families are not eligible for government assistance because of their working status. If the average family working a full-time job cannot put enough food on the table, then what hope do the poorer classes have?

The complexities involved demand robust, reliable technology as well as expert insights. Projects like Morpheus.Network leverage blockchain technology to streamline complex processes. Using a mixture of advanced technologies, including Blockchain, Automation and AI, they can address the food waste inefficiencies identified earlier. 

By providing supply chain managers with unparalleled shipment and item visibility, Morpheus. The network empowers automation and optimization, ensuring the safe and secure movement of food while simultaneously saving valuable time and resources. 

Tackling the issue at source

Food producers are a critical and often silent component in the high risks to our food supplies brought about by climate change. EthicHub is one of many projects focused on incentivizing farmers to produce by connecting them with lenders globally and facilitating direct sales to buyers. 

Financial rewards for farmers are crucial for sustaining agricultural livelihoods. EthicHub not only provides farmers with access to much-needed capital but also enhances the economic viability of their production. 

By leveraging coffee as collateral for loans and improving unit economics, EthicHub tackles the root causes of food supply problems, ensuring that farmers receive the financial rewards they deserve while contributing to the future of sustainable food systems.

Some of the findings in the recent European Climate Risk Assessment Report should scream alarm bells for policy makers and consumers. One section notes that Risks from heat and drought to crop production are already at a critical level in southern Europe. Blockchain is one of the most promising technologies that will enable us to address the ongoing issues in food production, consumption and distribution.

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From AI and semiconductors to mobility and finance — behind every wave of innovation lies power and energy infrastructure. It is the invisible engine that sustains modern industries, shaping not only technological progress but also the flow of global capital and industrial order.

Energy transition today is no longer just an environmental cause; it represents a structural reallocation of markets and influence. In the AI era, true competitiveness depends not on designing innovation, but on managing the energy that drives it.

Energy as capital, not just conservation

The global energy industry is not merely a sustainability topic—it is the gateway of capital and the backbone of the global economy. Every major industrial revolution has been powered—literally—by an energy shift: coal in the 19th century, oil in the 20th, and now renewables in the 21st.

AI, semiconductors, mobility, and finance all rely on a stable and scalable energy foundation. Yet many people fail to grasp its true scale and strategic value. Having long enjoyed relatively cheap electricity, we’ve forgotten the volatility of the oil shocks and the geopolitical weight of resources.

Korea’s major conglomerates are prime examples. Their industrial empires were built on energy-intensive foundations—and today, they’re evolving those same roots by merging energy transition with finance, renewables, and emerging tech. Beneath all visible innovation lies a deep layer of infrastructure and capital flow.

The world’s largest industry is the energy business—because without energy, even AI and finance are abstractions

How fossil fuel titans are reinventing themselves

Consider ExxonMobil, once the emblem of fossil dominance. It’s now investing billions into CCUS (Carbon Capture, Utilisation, and Storage) and DAC (Direct Air Capture) technologies—tools designed to bridge the old energy world with the new.

These companies are adopting what might be called “dual-transition logic”: continuing traditional oil operations while channeling profits into carbon reduction and renewable technologies. This balancing act carries the risk of self-cannibalisation, yet they accept it as the price of long-term survival.

What’s truly remarkable is how universal this shift has become. Nearly every global energy player—from Shell and BP to Saudi Aramco—is now part of the same race toward transition. The question is no longer if or when the shift will happen; it already has.

Also Read: On the precipice of energy transition

Why tech giants are leading the charge

Global tech leaders such as Microsoft, Google, and Amazon are not joining the energy transition for image or compliance. They are doing so because their business survival depends on it.

AI data centres now consume staggering amounts of electricity. Power supply and efficiency have become the defining variables for corporate scalability and resilience. As AI continues to shape every sector, these companies understand one truth:

Whoever controls energy, controls computation—and therefore, the future.

Their investments in renewable projects, direct power purchase agreements (PPAs), and green hydrogen aren’t just eco-initiatives; they’re strategic moves to secure their operational lifeline. In essence, these tech giants are saying:

“If this transition is inevitable, we’ll shoulder the cost and lead the change.”

In doing so, they’re transforming sustainability into a competitive advantage—positioning themselves not only as technology leaders but as architects of the next industrial era.

Mobile power plants: How EVs are opening a new electricity market

Global automakers are no longer competing solely on design or performance—they are entering the power market. As the industry accelerates toward electrification, the EV battery has evolved into a mobile energy asset. While vehicles consume electricity on the road, when parked, they can act as Energy Storage Systems (ESS), capable of storing—and even trading—power.

If electricity trading becomes fully liberalised, automakers could unlock a new layer of business: power monetisation. Vehicles would not only drive but also buy, sell, and stabilise electricity flows, effectively functioning as mobile energy platforms.

This convergence of energy and mobility creates a new ecosystem where automakers operate as both manufacturers and distributed energy providers. As in-car entertainment, charging networks, and connected lifestyle services expand, these platforms will deepen user engagement and brand stickiness, turning vehicles into personalised hubs of both energy and experience.

In essence, the car is no longer just a mode of transport—it is becoming a node of the power grid and a core interface of the energy economy.

Also Read: Will hybrid schooling break walls for the next generation?

The age of energy hegemony

China builds control

China’s dominance in renewables is no coincidence—it is the result of a deliberate, whole-of-nation strategy to own the next general-purpose infrastructure: energy. Under the national vision of “Energy Rise (能源崛起)”, Beijing has systematically built an ecosystem spanning the entire value chain—from raw materials and components to manufacturing, construction, and operation.

This full-stack control gives China unmatched cost efficiency, production speed, and geopolitical leverage; a single supplier’s pause can disrupt global wind or solar projects. Beyond scale, the country’s “Carbon Neutrality by 2060” goal functions as a roadmap toward energy sovereignty, reducing vulnerability to external shocks while consolidating influence over global standards. In essence, China’s energy rise fuses technological sovereignty, economic power, and industrial hegemony into a long-term strategy of control.

Canada builds trust

Canada combines resource abundance with a high level of energy security and self-sufficiency, providing it with substantial influence in global trade and diplomacy. Its independent and stable energy base strengthens its negotiating position—even in periods of US trade tension—and underpins competitiveness across oil, LNG, and electricity.

Today, Canada’s energy sector is shifting from extraction to innovation, integrating LNG with renewables and investing in low-carbon infrastructure. The country approaches this transition in a systematic, partnership-oriented manner, viewing energy not only as an industry but as part of its national identity. Through this lens, Canada positions itself as a trusted partner in global sustainability, demonstrating how a resource-based economy can evolve toward innovation-led growth.

Korea builds integration

Korea’s energy transition is characterised by pragmatic sequencing, using hydrogen, fuel cells, and advanced batteries as bridge technologies to balance decarbonisation with economic stability. Large industrial groups (e.g., Samsung, LG, Hyundai, SK) are active across the hydrogen value chain and next-generation battery systems. A principal differentiator is systems integration: combining power electronics, semiconductors, materials, and precision manufacturing into cohesive solutions.

This integration capability is relevant to complex domains such as fusion and SMRs (Small Modular Reactors), where engineering depth and cross-sector coordination matter. Demonstrations and concept models presented at international forums have emphasised modularity, safety, and deployability for export-oriented markets. While commercialisation timelines remain uncertain, the integration-led approach positions Korea as a potential system integrator in the broader clean-energy ecosystem rather than a single-technology player.

With AI, data, power, and capital intertwined, true competitiveness today lies not in “designing innovation,” but in managing the energy that powers it. This is the essence of the energy business—the engine of capital and infrastructure that drives the transition.

Acknowledgement: Special thanks to Ms. Calli Seunghee Moon, Business Development Expert of the Global Manufacturing Division at SK AX, and author of Energy Business (2025) and The Age of Climate Technology (2023), for her insights and contributions to this article.

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Equity markets hover at critical technical junctures while macroeconomic headwinds, particularly the spectre of a prolonged US government shutdown, have only just begun to recede. Cryptocurrency markets, deeply intertwined with broader risk sentiment, have rebounded modestly, buoyed by improved macro conditions and renewed institutional interest in Layer 1 infrastructure. Beneath the surface, divergences in both traditional and digital asset markets suggest that the current calm may be temporary and highly contingent on incoming data, policy developments, and capital flows that remain in flux.

Equity markets continue to tread carefully around key technical support levels. The S&P 500, a bellwether for global investor sentiment, finds itself sandwiched between its 50-day and 100-day moving averages, zones that often act as fulcrums between continuation and reversal. Although recent price action has been subdued, the possibility of a year-end rally persists, especially given the surprisingly strong third-quarter earnings results that delivered a 15 per cent year-over-year profit growth across the index. This strength is increasingly concentrated and increasingly fragile.

The so-called Magnificent 7, once a monolithic engine of market returns, now exhibit stark performance divergence. Tesla, emblematic of this fragmentation, encapsulates the broader uncertainty. Analyst forecasts span from bullish projections of a 6x price surge to bearish scenarios anticipating steep corrections. Such volatility in outlook underscores a market increasingly sceptical of uniform growth assumptions and more attuned to company-specific fundamentals, execution risk, and macro dependencies.

This skepticism is well-founded. While optimism around artificial intelligence remains intact, particularly in the context of long-term structural transformation, the near-term outlook for capital expenditure shows signs of potential deceleration. The year 2026 may witness a slowdown in AI-related capex, especially in downstream sectors where valuations appear stretched relative to near-term revenue visibility.

Compounding this risk is the fact that many of the Magnificent 7 remain deeply tethered to consumer behavior, whether through digital advertising, cloud services, or hardware sales. Should broader economic conditions falter, driven by persistent inflation, tighter credit conditions, or geopolitical shocks, their vaunted cash flow strength could erode faster than anticipated. Investors would be wise to adopt a selective approach, distinguishing between companies with resilient business models and those riding speculative momentum.

Also Read: Why Answer Engine Optimisation is the next frontier for modern marketers

Currency markets add another layer of complexity. The US Dollar Index (DXY), which had been testing the psychologically significant 100 level, pulled back slightly to 99.60 following news of a Senate resolution to end the 40-day government shutdown. The dollar remains strong, and positioning appears crowded. Such crowding increases the risk of sharp reversals should upcoming macro data or, more likely, signals from the Federal Reserve shift market expectations. A stronger dollar typically acts as a headwind for US multinational earnings and emerging market assets alike, and its influence on capital flows cannot be overstated. In the context of crypto, where dollar strength often inversely correlates with asset prices, this dynamic remains a critical variable.

Global themes further complicate the narrative. China’s strategic push into humanoid robotics, exemplified by XPENG’s IRON project, signals a broader ambition to dominate next-generation industrial and consumer technologies. Simultaneously, Chinese companies are accelerating overseas expansion, challenging incumbents in markets from Southeast Asia to Latin America. India, by contrast, has underperformed relative to both China and Japan, raising questions about its near-term growth inflexion and policy responsiveness. In such an environment, a barbell strategy, combining exposure to large-cap growth leaders with defensively positioned, dividend-paying equities, offers a prudent approach to navigating regional and sectoral divergences.

The macro backdrop improved meaningfully over the weekend with the Senate’s bipartisan agreement to end the government shutdown, the longest in US history. This resolution directly addresses a significant source of liquidity drain. Since October 10, approximately US$700 billion in economic activity has been disrupted or delayed, constraining both consumer and institutional risk appetite. With the shutdown concluded, capital can begin to reallocate toward risk assets, a dynamic already reflected in the 4.83 per cent 24-hour gain in crypto markets following a 3.94 per cent weekly loss. Bitcoin’s 0.70 seven-day correlation with the S&P 500 underscores how tightly crypto remains linked to traditional market sentiment. Relief in one arena quickly transmits to the other.

Layer 1 ecosystems have emerged as a focal point of this renewed optimism. Solana’s 4.42 per cent sector gain was catalysed by Western Union’s announcement that it will launch a US dollar stablecoin exclusively on Solana in the first quarter of 2026. This is not a speculative foray but a strategic institutional endorsement of Solana’s scalability and throughput.

Similarly, Ethereum received a significant vote of confidence through EigenCloud’s US$200 million deployment of ETH-based infrastructure to support AI systems. These developments indicate that blockchain is no longer merely a speculative playground but an operational backbone for real-world financial and technological infrastructure. Institutional adoption of this magnitude validates the long-term utility of high-performance Layer 1 networks and draws capital toward ecosystems demonstrating clear use cases and execution capability.

Also Read: Bull-proof, bear-proof: How smart startups win in every market cycle

Technically, the crypto market rebounded from oversold territory, with the 14-day RSI at 37.4 signalling exhaustion among sellers. Bitcoin retested its 50-week moving average near the US$103,000 level, a zone that often acts as a magnet for price action. Spot trading volume rose 14 per cent to US$159 billion, while derivatives open interest climbed 5.76 per cent, suggesting that traders are cautiously re-engaging.

This optimism remains tempered. Ethereum ETFs recorded US$466 million in outflows on November 7 alone, highlighting persistent institutional scepticism toward ETH despite its technological advancements. Moreover, the market must sustain a close above the seven-day simple moving average at US$3.46 trillion in total market cap to confirm bullish momentum. Failure to do so could trigger a retest of the US$3.37 trillion Fibonacci support level.

Gold’s rise to US$4,007 per ounce amid dollar softening and shutdown-related uncertainty further illustrates the fragile nature of current sentiment. Safe-haven demand remains elevated, even as risk assets rally. This duality, bullish price action coexisting with defensive positioning, is a hallmark of late-cycle or transitional market regimes.

Whether Bitcoin can hold above US$105,000 in this environment depends not only on technicals but on broader macro confirmation. Sustained liquidity normalisation, stable dollar conditions, and continued institutional validation of blockchain infrastructure must all align. Until those pillars solidify, the relief rally, while welcome, should be approached with disciplined risk management and selective exposure.

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South Korean technology giant Kakao reported a seemingly stellar third quarter (Q3 2025) consolidated performance, achieving a total revenue of US$1.44 billion and an operating profit of US$143.6 million. This represents an 8.6 per cent increase in revenue year-on-year (YoY) and a dramatic 59.4 per cent increase in operating profit YoY. The operating profit margin expanded to 10 per cent, a rise of 3.2 percentage points YoY.

However, a forensic examination of the financial statements reveals critical vulnerabilities and a significant shift in who benefits from this overall consolidated success, suggesting the company may be attempting to downplay a sequential contraction in its core profit streams and a substantial dilution of earnings flowing back to controlling interests.

The deceptive profit split: Controlling interests see earnings plummet

The most striking detail hidden within the strong headline figures is the divergence between the consolidated net profit and the amount attributed to Kakao’s core shareholders.

Also Read: Kakao Pay, Artem Ventures back Paywatch’s US$20M Series A

While consolidated net profit from continued operations was US$133 million, representing a quarter-on-quarter (QoQ) increase of 12.3 per cent, the net profit attributable to controlling interests actually dropped sharply by 22.5 per cent sequentially.

Net profit (controlling interests) stood at US$86 million in Q3 2025, down significantly from US$111 million in Q2 2025. Conversely, non-controlling interests (the share of profit belonging to external stakeholders in subsidiaries) skyrocketed to US$46.9 million. This figure is up 542.9 per cent QoQ, compared to US$7.3 million in Q2 2025.

This massive surge in profitability attributed to non-controlling interests indicates that the gains driving the impressive consolidated performance are being generated disproportionately by subsidiaries — such as Kakao Pay (46.1 per cent stake), Kakao Games (40.7 per cent stake), or Kakao Mobility (57.2 per cent stake) — rather than the parent company itself, severely reducing the ultimate benefit to Kakao’s own equity holders.

Core business slowdown and rising costs

Beneath the consolidated growth, key segments showed signs of sequential strain, coupled with escalating infrastructural expenditure.

The core platform segment grew modestly by 0.4 per cent QoQ. Crucially, the dominant revenue stream, Talk Biz, saw its revenue fall QoQ by 1.4 per cent, reporting US$368.7 million. The decline suggests a slowdown in the commercialisation of its main messaging platform, KakaoTalk.

Simultaneously, the traditional Portal Biz continued its steady decline, shrinking by 7.1 per cent QoQ and 4.8 per cent YoY, reporting US$50 million.

While growth in the Platform segment was salvaged by Platform-Others (up 4.1 per cent QoQ and 23.7 per cent YoY), reaching US$312 million, the company also faced burgeoning costs necessary to sustain its technological infrastructure and push for growth:

• Outsourcing/infrastructure costs were US$179.9 million in Q3 2025, marking a substantial increase of 34.3 per cent YoY and 11.7 per cent QoQ. This sharp rise in foundational spending is a considerable headwind against margin expansion.
• Marketing expenses also saw aggressive QoQ scaling, jumping by 15.7 per cent to US$70.3 million, indicating the need for higher promotional spend to generate marginal revenue growth.

Content segment contractions

The content division, crucial for regional expansion and IP monetisation, presented a mixed, yet concerning picture:

• The game segment generated US$106 million. While this was an 8.1 per cent QoQ increase, it represents a brutal 34 per cent contraction YoY. The high volatility and substantial year-on-year revenue reduction demonstrate ongoing challenges in maintaining stable revenue streams from gaming.
• The story segment, which includes webtoons and web novels often highlighted for global growth, also saw revenues contract, falling by 3.3 per cent QoQ and 3.3 per cent YoY, reporting US$145.9 million. This sequential decline suggests stagnation in a division perceived as a long-term growth driver.
• The only bright spot in content was music, which posted robust growth of 20 per cent YoY, reaching US$389.9 million.

The core parent company is losing ground

Further deepening the concerns regarding sustainable performance is the health of Kakao as a separate entity (excluding consolidated subsidiaries).

Also Read: Indonesia’s minister confirms Grab-GoTo merger is on the table

The separate statements of income reveal that the parent company’s total revenue was US$440.5 million, which was down 2.5 per cent QoQ. More troubling, the separate entity’s operating profit declined by 6.8 per cent QoQ and 1.1 per cent YoY, standing at US$69.4 million. The separate operating profit margin contracted sequentially by 0.7 percentage points to 15.7 per cent.

This data confirms that the robust consolidated growth reported by Kakao is almost entirely a result of successful, yet expensive, operations and high profitability within its subsidiaries, while the core business of the parent entity itself is weakening both in revenue and profitability.

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The Echelon Singapore 2025 panel explored how Southeast Asia can build high-impact AI teams to drive digital transformation.

Speakers emphasised developing AI talent through national strategies that combine pre-employment training and continuous education. They called for more AI strategists and generalists, highlighting the rise of tools such as Cursor and the growing need to manage AI agents.

Curiosity and critical thinking were identified as vital for reskilling in an AI-driven economy. Despite automation reshaping roles, demand remains strong for data scientists, UX/UI designers, and other AI-related professionals who can bridge technical and human-centered aspects of innovation.

The post Echelon Singapore 2025 – Hiring for AI startups: Building high-impact teams from day one appeared first on e27.

Though the realm of cybersecurity has traditionally been viewed as a male-dominated field, an increasing number of women are breaking barriers, demonstrating that expertise, rather than gender, is what truly determines one’s achievements and successes.

Diving into cybersecurity after six years in the medical lab

My journey into cybersecurity was an unconventional one. I began as a medical lab technologist at the Singapore General Hospital, handling biomedical tasks such as patient specimens for six years. Driven by the aspiration to inspire tomorrow’s health for Singaporeans, I embarked on transformative journey to help build a safer and more secure digital healthcare ecosystem.

In addition to pursuing a Specialist Diploma in Bioinformatics and Data Analytics, I also completed an apprenticeship focused on developing AI-driven federated medical image segmentation pipelines. This foundation paved the way for my entry into the policy realm of cybersecurity. My unique background across the different subjects has equipped me to bridge the gap between healthcare, technology, and cybersecurity in today’s evolving HealthTech landscape.

Breaking into a male-dominated industry was not just about learning new skills — it includes defying expectations and finding my voice. While the journey came with its share of challenges, adaptability and resilience were my greatest tools. What drove me forward was the belief that, as a woman in tech, I could make a real impact and help shape the future.

Also Read: Can AI truly connect? The emotional dilemma of virtual influencers for women

The involvement of women in cybersecurity is vital as it brings a diverse range of minds, perspectives, and experiences to address complex challenges. Women can contribute valuable strengths and enhance inclusivity for a more balanced and effective team dynamic. This is especially important in healthcare, where the integration of varied skills and viewpoints help yield a more comprehensive approach to patient care.

Paving the healthtech landscape for more women

The more we celebrate the contributions of women in tech, the more we can inspire future generations to pursue roles once considered out of reach. One of my proudest moment at was contributing to the development of the “first-in-the-world” multi-levelled Cybersecurity Labelling Scheme for Medical Devices [CLS(MD)] locally, empowering consumers and healthcare providers to make informed decisions about these devices’ security levels.

Beyond Singapore, my team also worked with the Global Digital Health Partnership (GDHP) to launch the GDHP Guidance for Medical Device Cybersecurity (GMDC) to boost cybersecurity in healthcare worldwide.

Working in the tech has shown me the importance of diverse perspectives and experiences. Success in this field goes beyond technical expertise — it is about merging insights from healthcare, technology, and policy to drive meaningful progress in patient care.

By challenging stereotypes and embracing unconventional career paths, we can reshape the industry and create more opportunities for women to succeed. I am proud to help build a more inclusive field and a safer HealthTech landscape ready for the future.

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The post Bridging healthcare and cybersecurity: How women are challenging stereotypes in tech appeared first on e27.

The party was still going when he slipped out the back door.

It was the sort of tech mixer where the clinking of wine glasses and investor small talk filled the air with possibility, another night on the endless carousel of optimism. But for Adrian Tan, co-founder of a once-promising Southeast Asian fintech startup, the music had stopped long ago. Standing alone in a side alley behind the Jakarta rooftop bar, he stared at his phone, wondering how he’d gotten to the point where the idea of another funding round made his stomach churn.

He hadn’t told his team. He hadn’t told his investors. But inside, he knew: he was done.

In a region where founders are expected to embody tireless grit and unshakable ambition, Tan’s quiet unravelling is no longer as rare as it once was. Across Southeast Asia, a new generation of startup leaders is beginning to question the emotional cost of hustle culture, and for some, choosing to step back entirely, if only in private.

The cost of the hustle

The COVID-19 pandemic cracked open something long buried in Southeast Asia’s startup psyche. Years of economic volatility, extended lockdowns, and the erasure of work-life boundaries created a crucible for burnout. In recent interviews across Jakarta, Ho Chi Minh City, Manila, and Bangkok, a pattern emerged: the glorification of burnout is fading.

One Thai edutech founder, speaking anonymously, said she began therapy after breaking down in tears before investor calls. “I felt like I was acting out a version of myself that I couldn’t stand anymore,” she shared. “There’s this pressure to always be ‘on,’ but I was disintegrating.”

A 27-year-old SaaS entrepreneur from the Philippines recalled how he quietly shuttered his startup, not due to market failure, but because his panic attacks had become unmanageable. “No one tells you that chasing Series A can feel like running with a knife pressed against your chest,” he said.

Regional data mirrors these stories. A 2024 study by Milieu Insight and Calm Collective Asia found that 81% of Singaporeans and 78% of Filipinos describe life in their countries as stressful. Yet, most delay seeking help until they reach a breaking point. And in a Safe Space SG report surveying over 150 startup founders, many cited burnout, chronic stress, and loneliness as endemic to the startup journey.

Also Read: How burnout changes founder’s ability for risk-taking

Therapy, taboo, and the new playbook

In much of Southeast Asia, therapy is still tangled in stigma, seen either as indulgent or a sign of failure. In Vietnam, one founder said he attends therapy sessions secretly, often from a parked car, so that staff or co-founders won’t notice.

Yet small but significant signs of change are emerging. Incubators in Singapore and Indonesia are beginning to offer founder coaching and wellness check-ins. Some venture capital firms are quietly subsidising therapy for portfolio founders. In Phnom Penh, a low-key Wednesday night circle at a co-working space now offers founders a safe place to talk and decompress.

“We realised founders were breaking, not because they weren’t resilient, but because the system was,” said Dr. Elisa Tan, a Singapore-based psychologist who advises early-stage teams on emotional sustainability. “We had to shift from just scaling companies to also helping humans endure the journey.”

Stepping back, moving forward

Despite the growing visibility of burnout, one thing remains conspicuously rare: founders in Southeast Asia publicly stepping down from leadership, citing mental health. After an extensive search across English and local-language media in Thailand, Vietnam, and Indonesia, no clear, publicly documented example of such a resignation could be found.

Several high-profile founders in the region have exited or transitioned from their roles, such as Tokopedia’s William Tanuwijaya moving into a board-focused position, but these shifts have not been explicitly linked to mental health.

That absence is telling. The stigma surrounding mental health disclosures remains deeply entrenched. Public vulnerability, especially among leaders, is still a cultural tightrope.

But there are exceptions pushing the conversation forward.

Also Read: Singaporeans are wary of trusting AI with financial or mental health advice: Report

Singaporean founder Theodoric Chew, who co-founded the digital mental health startup Intellect, has been refreshingly open about his personal struggles with anxiety and his early experiences in therapy. Though he hasn’t stepped away from his company, his story signals a new generation of founders integrating mental wellness into both personal and business narratives.

“I used to feel like I had to prove I could do it all without breaking,” one Indonesian founder shared anonymously. “Now, I realise resilience also means knowing when to pause.”

A cultural shift in slow motion

There’s no roadmap yet for how startup culture in Southeast Asia will evolve to prioritise emotional well-being. But the shift is underway.

Support groups are forming. Wellness is entering investor conversations. Anonymous founder forums are surfacing vulnerable, unfiltered truths. And even though no one has yet written the definitive LinkedIn post announcing, “I stepped down to save my mental health,” many are thinking it. Some are quietly doing it.

As one founder put it: “We still whisper about therapy. But at least now, we’re whispering to each other.”

And sometimes, the most radical act in a founder’s journey isn’t launching, scaling, or pivoting, but stepping back, even just for a while, and saying: this doesn’t have to break me.

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