At Bain & Co., Daphne Tay often found herself stuck in the same frustrating loop: spending hours reformatting translated documents, fixing broken tables, and restoring layouts that existing translation tools had mangled. The translation itself was never the problem; the “last mile” of formatting ate up precious time.

“I realised this wasn’t just my problem. It was a universal inefficiency across law firms, consulting, finance, and multinational companies,” recalls Tay, now co-founder and CEO of Bluente. “That’s when it clicked: translation isn’t only about language. It’s about workflow and precision.”

Building a translation engine for documents, not just text

Founded in 2021, Bluente is an AI-powered translation platform designed to solve that last-mile pain point. Its one-click engine translates to and from more than 120 languages while preserving exact formatting (text, images, numbers, tables, and units) across contracts, PDFs, and PowerPoints.

Also Read: Bluente lands US$1.5M to scale AI-driven document translation worldwide

“Most translation tools are built around text. Bluente was built around documents,” Tay explains. “Our engine doesn’t just translate words; it preserves structure, context, and compliance. In regulated, format-sensitive industries, a misplaced clause isn’t a typo but a liability. That’s where Bluente stands apart.”

Rethinking a legacy industry

According to Tay, traditional translation companies still run on human-heavy workflows, treating technology as an afterthought. Even when artificial intelligence (AI)  is adopted, it’s typically layered on top of legacy systems, leading to patchy outcomes, slow turnarounds, and high costs.

Bluente, by contrast, reimagined the process end-to-end. But that came with its own challenges. “PDFs, for instance, are image- and layout-first, not text-first. Extracting and reinserting content accurately is extremely error-prone,” she says. “Tables with merged cells, multilingual footnotes, scanned contracts; these were nightmares. We had to build custom engines for parsing, layout reconstruction, and multilingual character support. Refining that took years.”

Backed to scale across borders

The effort is paying off. Bluente recently closed a US$1.5 million seed round led by Informed Ventures, targeting expansion into the Middle East, wider APAC, and the US–regions dense with international firms navigating cross-border transactions.

“Each region presents a distinct need: Arabic requires right-to-left formatting, APAC brings multilingual complexity, and the US has sheer market opportunity. Our platform is designed to scale while adapting locally,” Tay says.

The AI question: Job killer or productivity engine?

With Microsoft research suggesting translators are among the most at-risk professions from AI disruption, Tay is quick to reframe the narrative.
“Translation isn’t disappearing; it’s evolving,” she argues. “Humans shouldn’t waste time fixing formatting or repetitive clauses. Bluente eliminates that grunt work so professionals can focus on nuance, strategy, and value creation. We’re not killing jobs; we’re killing tasks.”

Beyond translation: A multilingual OS for business documents

For Tay, translation is only the wedge. “It’s the most painful entry point, but our vision is much broader: multilingual document infrastructure,” she reveals. “Ultimately, we want to build the operating system for global business documents.”

Also Read: Is AI making it harder for tech startups to survive?

On being a female founder in a deep-tech sector, Tay is candid: “If you build something genuinely useful, gender becomes secondary. That’s been true in our product journey and in this fundraise.”

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Tevo, an emerging artificial intelligence (AI) applications and services startup based in Hong Kong, has closed an undisclosed amount in a seed funding round.

The investment was led by EZTech and UX Foundation.

Concurrently, Tevo announced a strategic partnership with MobiFone Global, a subsidiary of one of Vietnam’s largest telecom corporations.

The Tevo-MobiFone collaboration aims to jointly introduce mobile applications to global markets, with the short drama application, Dramini, being their inaugural joint venture.

Van Vu, CEO of MobiFone Global, commented, “We have entered a strategic partnership to export technology products to global markets and introduce international premium digital services into Vietnam.”

Also Read: How Agentic AI will create telecom’s first truly autonomous workforce by 2030

Thanh Luu, CEO and founder of Tevo Global, said the firm is in progress for a pre-Series A funding round with several leading Asian funds, which will further accelerate its growth, global reach and AI initiatives.

According to market research by Statista, the global mobile app market is projected to generate US$522.67 billion in total annual revenue in 2024. Advertising contributes significantly to this figure, accounting for nearly two-thirds of all app revenue, at over US$344 billion. Gaming and social networking applications are identified as the highest-earning categories, each generating over US$150 billion annually.

Tevo’s ambition is to become a leading company in AI applications and services and rank among Southeast Asia’s top five most prominent firms in the mobile apps and games industry by 2030.

Established in 2007, MobiFone Global Technology Joint Stock Company is a subsidiary of MobiFone Telecommunications Corporation, one of the top three largest telecommunications providers in Vietnam. The company has expanded its domestic and international operations, with established subsidiaries in the United States, Singapore, and Hong Kong.

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The AI boom is reshaping the future of work. For Southeast Asian startups, the challenge isn’t just adopting AI fast enough — it’s holding on to the talent that makes growth possible.

Retention and up-skilling have always been issues, but in this new era of AI-driven change, they’ve become existential.

Why employees are leaving

In Southeast Asia’s hyper-competitive talent market, salary jumps remain the most common reason people leave. I’ve seen it first-hand.

One of my favourite designers, who had been with me for years, quietly applied for another job. When I asked why, her answer was simple: She needed more money as her expenses kept rising.

I didn’t want to lose her, so I increased her salary by 40 per cent. That’s the reality many founders face — employees will move for better pay unless companies are willing to match their expectations.

But salary isn’t the only factor. Employees also leave because of culture, lack of growth, or simply boredom. And here’s where AI complicates things: It fuels both fear (“Will this replace me?”) and frustration (“Now I need to learn all these new tools?”).

Also Read: Web3 can absorb SEA’s talent glut, only if education evolves

How startups can retain talent with AI

Here’s the paradox: AI can either accelerate attrition or strengthen retention, depending on how you use it.

At People’s Inc. 360, we take a simple approach:

• AI gives freedom. Our team works from anywhere. If a task can be reduced from one day to two hours with AI, I don’t expect people to fill the rest with busywork. They get time back.
• AI as leverage, not replacement. My designer uses AI tools, but her human creativity is what makes the work unique. AI speeds her up, but she stays indispensable.
• AI as up-skilling. Every employee has access to the same AI toolkit I use. Learning it isn’t “extra work” — it’s a career advantage they’d otherwise have to pay for outside.

The companies that frame AI as empowerment, not replacement, will retain their best people.

What employees must do

If you’re an employee in a SEA startup today, your job security depends on one thing: Your willingness to work with AI.

• Build your own AI toolkit: The tools that make your work faster and smarter.
• Focus on human skills that AI can’t replicate: Leadership, creativity, storytelling, and emotional intelligence.
• Keep training your AI: Rubbish in, rubbish out — the more you feed it, the more powerful it becomes as your digital assistant.

A case study in up-skilling

One of my best experiments is with Kelly Kam, a member of the Royal Visionary Society and a graduate of our Speakers Society Accelerator. She built her own AI twin — Diana.

Is Diana as advanced as my Seraphina? Not yet. But Kelly is already creating content, engaging her audience, and converting leads into sales. That’s what up-skilling looks like in action: AI-powered humans outperforming both machines and humans alone.

This experiment sparked a bigger question: If individuals could train AI twins to capture their voice and workflows, what would that mean for talent retention?

That’s how my framework was born. The idea is simple: When employees learn how to train their own AI assistants, they gain leverage. Instead of fearing replacement, they see AI as a partner. The more they teach their AI — feeding it context, preferences, and knowledge — the more it supports them.

Also Read: Beyond vibe coding: How AI can build true tech talent

And here’s the retention angle: Employees who feel empowered by AI are more engaged, more productive, and more likely to stay. Training the AI isn’t just about technology. It’s about creating alignment between company goals and employee growth.

The retention framework: Retain, retrain, re-skill.

For startups, the formula is simple:

• Retain by paying fairly and giving employees freedom.
• Retrain by integrating AI tools into daily workflows.
• Re-skill by helping employees step into hybrid AI-human roles.

The tangible outcomes? Lower turnover, faster innovation, higher engagement. For employees, it means faster career growth, higher income, and most importantly, relevance in a changing world.

Closing thought

AI won’t replace your employees. But bad leadership might.

The startups that survive this era won’t be those that chase the latest tools, but those that retain, retrain, and re-skill their people — building companies where AI and humans grow stronger together.

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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 widening TaniHub corruption probe has now drawn Indonesia’s financial regulators into the spotlight.

With the CEOs of BRI Ventures and MDI Ventures named as suspects, OJK moved quickly to issue a statement: the scandal, it insists, does not represent the state of the venture capital industry as a whole. Instead, OJK doubled down on the importance of venture capital in fuelling startups and MSMEs, stressing its commitment to supervision, governance, and compliance.

Yet the case is hard to ignore. What began as questions over TaniHub’s meteoric rise and abrupt decline (warehouse closures, layoffs, and TaniFund’s loan defaults) has escalated into allegations of fictitious projects, manipulated data, and more than US$25 million in questionable investments. The presence of marquee investors, including Telkom subsidiaries and global VCs, underscores how systemic blind spots may have allowed enthusiasm to outrun accountability.

For Indonesia’s startup ecosystem, the moment is sobering. The promise of venture capital as a growth engine is now clouded by governance failures at some of its most prominent institutions. The sector’s resilience will depend on whether transparency, oversight, and trust can be restored–not just by regulators, but by the industry itself.

REGIONAL

Prosecutors name TaniHub, VC execs as corruption suspects
The South Jakarta District Attorney’s Office announced that Nicko Widjaja (CEO of BRI Ventures), William Gozali, (former VP of investment at BRI Ventures), and Aldi Adrian Hartanto (VP of investment at MDI Ventures in 2021) were detained on September 3, with detentions lasting until September 22.

GoTo says Gojek founder Nadiem has no role in company
The company clarified that Nadiem stepped down as president commissioner in October 2019 and has had no involvement since | It also said he is not a controlling shareholder and that its activities are not linked to his work as a minister.

Ex-Gojek execs, founders react to Nadiem Makarim corruption case
Most of the reactions so far seem supportive of Makarim, particularly those who once worked with him at Gojek | Michaelangelo Moran, who co-founded the company with Makarim, said in an Instagram post, “We cannot stay silent in the face of injustice.” | He believes Makarim is innocent.

SGInnovate leads US$1.5M seed round of biopolymer startup Greenitio
Greenitio uses a patented process to produce biopolymers from fungal chitosan, targeting the replacement of microplastic- and petrochemical-based ingredients | The company plans to use the new funding to scale manufacturing, pursue regulatory approvals, and grow commercial partnerships.

REPORTS, FEATURES & INTERVIEWS

Navigating the gender divide in the Southeast Asia’s fintech landscape
A Fintech Nation study reveals that only 33 women founders or CEOs are identified across SEA fintech companies, constituting a mere nine per cent | Post-Series-B funding, this number dwindles to just six per cent, highlighting the challenges women face in attaining leadership roles as companies mature.

Can Malaysia build a home-grown battery industry?
Despite growing enthusiasm, Malaysia’s battery sector remains young. According to Dr. Rezal Khairi Bin Ahmad, CEO of NanoMalaysia, the local lithium-ion based battery industry is still at its infancy stage and primarily driven by foreign direct investments and technologies from abroad, leaving little room for local intellectual equity.

Inside Thailand’s EV and battery push: Balancing growth with sustainability
While shifting from combustion engines reduces tailpipe emissions, Thailand must also tackle the carbon footprint of battery production and electricity generation | With fossil fuels still a mainstay of the national grid, greening the electricity supply is vital to realising the climate benefits of mass EV adoption.

INTERNATIONAL

MENA startup funding drops to US$337.5M in August
Funding was concentrated in Saudi Arabia and the United Arab Emirates, with Saudi startups raising US$166M across 19 deals and UAE startups raising US$154M from 11 deals | Egypt recorded US$14.7M in funding, continuing its recent slowdown, while Iraq fell to fifth place with a single US$1.5M deal.

South Korea launches AI strategy committee, boosts funding
The committee, led by President Lee Jae Myung, will coordinate AI strategy and policy across government and private sectors | The committee includes 34 private sector members, working across subcommittees on infrastructure, data, applications, social adaptation, global cooperation, science, skill development, and defense and security.

CoinShares to go public in US via US$1.2B SPAC merger
The agreement will see CoinShares list on Nasdaq, with a US$50M commitment from an institutional investor as part of the deal | CoinShares manages about US$10B in assets and is currently listed on Nasdaq Stockholm | The merger, if completed, would make CoinShares one of the largest publicly traded digital asset managers globally.

Global investors boost bets on S Korea’s beauty sector
KKR acquired Samhwa, a Seoul-based maker of plastic containers and pumps for cosmetics, for US$528M from TPG Capital Asia | Blackstone also agreed to invest in Juno Hair, Korea’s largest hair salon chain with over 180 locations in Korea, Singapore, Vietnam, and the Philippines.

China to launch at least five AI models for energy by 2027
Together with the National Energy Administration, it plans to create a framework for integrating AI into power grids, coal, oil, and gas by 2027 | The policy outlines more than 10 pilot projects and 100 application scenarios in smart power regulation, resource exploration, and renewable energy forecasting.

Ex-Redmi chief fired by Xiaomi over leaks
Xiaomi said an investigation found Thomas Wang Teng, General Manager of Xiaomi China Marketing and Redmi, engaged in unauthorised disclosure of sensitive data and had conflicts of interest | The company cited violations of its disciplinary and integrity codes as the reason for the dismissal.

HK venture accelerator Brinc acquires web3 community OG Club
OG Club is a decentralised autonomous organisation focused on Web3, and will rebrand its community as VentureVerse | OG Club has organised more than 300 Web3 events, built partnerships with over 100 companies, and has a community of more than 25,000 members and 10,000 wallet holders across 10 countries.

China’s e-commerce giants burn billions in price war
Alibaba, Meituan, and JD.com are offering deep discounts and subsidies in the one-hour delivery segment, leading to higher cash burn and squeezed margins | Analysts at Nomura estimate industry-wide cash burn surpassed US$4.1 billion in Q2 2025.

SEMICONDUCTOR

TSMC faces operational risks after US ends China waiver
The US government has revoked Taiwan Semiconductor Manufacturing Co’s (TSMC) authorisation to freely ship US-made chipmaking equipment to its Nanjing facility in Jiangsu, China, effective December 31, 2025 | Analysts warned that if license approvals are delayed, the Nanjing plant could face operational disruptions within months due to equipment shortages.

Nvidia opposes GAIN AI Act, warns on global chip trade
The Act, part of the National Defense Authorisation Act, would require AI chipmakers to prioritise US domestic orders over foreign customers and mandate exporters seek licenses for chips that exceed certain performance thresholds.

Chinese chipmaker firm YMTC launches US$2.9B chip venture
YMTC holds a 50.2 per cent stake, while the rest is owned by state-backed Hubei Changsheng Phase III Investment Development Co. | The venture will operate across the chip supply chain, including design, manufacturing, and sales, though specific products have not been disclosed.

Nvidia-backed firm Nebius to supply AI infra to Microsoft
Operations will begin later this year from a new data centre in Vineland, New Jersey | The Amsterdam-based AI infrastructure provider is listed on Nasdaq | The company will finance capital expenditures through cash flow from the deal and debt secured against the agreement.

OpenAI to launch first AI chip with Broadcom in 2026
The chip will reportedly be used for OpenAI’s internal operations and not sold to external customers | OpenAI needs massive computing power for training and running its AI models, including ChatGPT | The company has also worked with Broadcom and TSMC on chip development while still relying on AMD and Nvidia.

AI

Global investors turn to Asia on AI boom: report
Browning noted that Asia is seeing more investment, particularly in tech and AI sectors, as valuations offer a buffer compared to expensive US stocks | BofA estimates the global AI market will rise from US$300 billion in 2025 to nearly US$1.2T by 2030, with about US$1T potentially in Asia Pacific.

AI disruption unveiled: Hidden opportunities for startup survival and success
At its core, startup success isn’t about having the “perfect” plan—it’s about having the agility to execute, adapt, and scale in a constantly evolving market | In an era where AI is revolutionising industries at an unprecedented pace, the ability to implement and iterate will separate the true innovators from those who simply follow the trend.

Accelerating financial inclusion with AI: Unleashing potential with prudence
AI is transforming industries at a rapid pace, and Southeast Asia’s consumer finance landscape is no exception | By speeding up data collection and analysis, AI-powered technologies enable quicker pre-lending assessments and lending procedures.

Unleashing AI’s potential: The vital role of human guidance in AI’s growth and learning
As AI becomes increasingly integrated into our lives, 60 per cent of people expect significant changes in sectors like education, transportation, shopping, entertainment, and safety within the next three to five years | ChatGPT, with its one hundred million monthly active users as of January 2023, has been a game-changer in the recent excitement around AI.

THOUGHT LEADERSHIP

Job security in the gig economy: Do employees still seek stability?
In the gig economy, job security is redefined as trust, inclusion, and growth—values that tech leaders must embed across all workforce models.

The Goldilocks office: Finding the sweet-spot where space, experience and value converge
Finding the right office space balance boosts experience and cuts costs by shifting focus from capacity provided to desks actually used.

The rise of AI-powered investors: How technology is reshaping retail investing in Southeast Asia
AI is reshaping retail investing in Southeast Asia by making financial tools more intuitive, accessible, and psychologically empowering.

When your story unravels: The hidden risk in Southeast Asia’s startup boom
eFishery’s collapse shows how disciplined, culturally attuned communication is now critical to trust, funding, and survival in SEA’s startup scene.

Riding the affluence surge: How Generative AI can power growth in financial advisory
Banks in SEA are starting to roll out Generative AI tools, starting with internal ‘co-pilots’ like virtual assistants to improve productivity.

VC deal-breakers: How anti-dilution clauses could sink your startup
Every term sheet is negotiable, and it’s in your best interest to seek legal counsel to ensure your startup’s future remains secure.

Mastering the art of fundraising: Winning strategies to engage investors
The VC financing landscape is constantly evolving so new businesses must know how to successfully approach investors while fundraising.

Operators turned investors: Navigating the shift to startup investing
The involvement of experienced operators in the investment process brings a multitude of advantages | Their industry-specific knowledge enables them to conduct more thorough due diligence, identifying not only the strengths and potential of startups but also the risks and challenges that lie ahead.

Is your investing game defined by your emotions?
Emotional investing is using different emotions to make investment decisions, relying more on one’s reaction to the market trends than investing fundamentals such as technical analysis | Emotional investing is more common among those who manage their own portfolios, rather than those who engage with a financial consultant.

Venture debt: How it stacks up against loans and equity
Venture debt can be a powerful tool for startups looking to extend their financial runway without diluting equity | However, its suitability depends on the company’s specific needs, growth stage, and ability to handle repayment.

Why agritech is the key to Asia’s food security
Food security, once treated as a distant policy matter, is now a pressing economic challenge | Without innovation to help farmers produce more with less, yields will drop, produce will become scarcer, and the costs of living will spiral | The stakes are high not just for farmers but for everyone who relies on affordable, stable access to food.

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A fresh analysis by consumer research firm Milieu Insight shows a major shift in Vietnamese e-commerce consumer behaviour. While affordability still matters, the rising middle class is placing higher value on consistent service, dependable delivery, and streamlined problem resolution via a single point of contact.

This evolution signals a strategic pivot for Southeast Asia’s e-commerce landscape, where competitive differentiation is no longer rooted solely in price but in trust and quality of experience.

Vietnam’s e-commerce sector is booming, recently crossing the US$25 billion threshold. But as digital adoption deepens, with 41 per cent of consumers report increased online spending over the past six months compared to the regional average of 25 per cent, expectations are rising.

Milieu’s research, which spans Vietnam, Indonesia, Malaysia, and the Philippines, finds that Vietnamese shoppers are increasingly driven by product variety (52 per cent) and emerging features such as livestream shopping (50 per cent) and AI-based recommendations (32 per cent).

“Vietnamese shoppers are raising the bar for e-commerce,” said Juda Kanaprach, CMO at Milieu Insight. “They want more than bargains. They expect platforms to stand behind every step of the shopping experience, from accurate product descriptions and transparent fees to, most critically, dependable delivery.”

Also Read: The quiet ambition: How Vietnam is winning AI without the noise

Milieu’s findings reveal that Vietnamese consumers are not only more engaged, but also more demanding. A striking 90 per cent of respondents believe that platforms, instead of couriers, should enforce delivery standards.

Furthermore, 79 per cent said they do not care which courier is used, as long as deliveries are reliable.

This expectation for “centralised accountability” where platforms act as the single point of contact for service issues represents a meaningful shift. It is no longer acceptable for platforms to deflect blame onto logistics partners or sellers.

While affordability (64 per cent) remains a significant factor, reliability (53 per cent) and better package handling (51 per cent) now rank higher than lower delivery fees (45 per cent) for Vietnamese shoppers. This is in stark contrast to regional counterparts, where 56 per cent prioritise cost savings.

Loyalty is directly tied to performance: 70 per cent of shoppers are willing to pay more to sellers who offer reliable delivery, while a third will stop purchasing from those who falter.

Transparent return policies also influence buying decisions, with 46 per cent of shoppers abandoning purchases when returns aren’t guaranteed.

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Image Credit: Andreea Popa on Unsplash

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Singapore-based Atlas Consolidated has raised US$18.1 million in Series B funding, led by Southeast Asia-focused VC Tin Men Capital, with participation from Getz, Inc. and Woodside Holdings Investment Management.

This fresh capital injection is aimed squarely at accelerating the growth of HugoHub, Atlas’s flagship digital banking platform, as demand for core-to-customer modular banking infrastructure surges worldwide.

Banks globally struggle with outdated infrastructure that hampers agility, inflates costs, and stifles innovation. HugoHub is designed to address this challenge head-on.

The Banking-as-a-Service (BaaS) platform claims to reduce tech spending by 90 per cent and overall operational expenses by up to 80 per cent, while enabling higher customer-to-staff ratios compared to traditional models.

Its modular, no-code architecture allows banks to integrate digital capabilities incrementally—avoiding the disruption of a full core system replacement. This makes it particularly appealing for institutions looking to innovate without overhauling their entire stack.

Also Read: Navigating the gender divide in the Southeast Asia’s fintech landscape

Jeremy Tan, Co-Founder and Managing Partner at Tin Men Capital, sees HugoHub as a key enabler for banks navigating digital transformation. “Atlas’ solution exemplifies the kind of ambitious innovation we are excited to back in our region,” said Tan. “It allows banks to innovate faster, compete with challenger banks, and operate with radically better economics.”

David Fergusson, CEO of Atlas Consolidated, emphasised the raise’s strategic significance: “With Tin Men Capital’s support, we can accelerate HugoHub’s expansion to new markets, helping financial institutions create more efficient, inclusive, and sustainable systems.”

Beyond banking efficiency, Atlas is positioning HugoHub as a tool for financial inclusion across the Asia Pacific. Millions remain unbanked in the region, and the company believes its low-cost, scalable model can sustainably bridge this gap.

HugoHub empowers institutions to serve underserved populations more effectively by decoupling digital infrastructure from complex overheads.

The platform is already being deployed in emerging and developed markets. It supports initiatives such as Hugosave in Singapore and HugoBank in Pakistan, two ventures designed to showcase HugoHub’s flexibility and impact.

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Image Credit: Alicja Ziajowska on Unsplash

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Accion has announced the final close of its US$61.6 million Accion Venture Lab Fund II. Managed by Accion Impact Management under its newly rebranded Accion Ventures strategy, the fund will invest in up to 30 early-stage fintech startups that are solving systemic financial access challenges in underserved markets.

The fund secured backing from a diverse group of Limited Partners, including Dutch entrepreneurial development bank FMO, Proparco, the Ford Foundation, MetLife Asset Management, Mastercard, and ImpactAssets.

Accion Ventures is targeting startups that leverage next-gen technologies—including embedded finance, alternative data, and Generative AI—to create accessible financial solutions.

The fund’s recent initial investments include PaidHR in Nigeria, FinFra in Indonesia, Flowcart in Kenya, and Foyer in the US.

More than just capital, Accion Ventures brings strategic and operational support to its portfolio. Startups benefit from governance, go-to-market expertise, and a dedicated Portfolio Engagement team to help them scale.

Also Read: Navigating the gender divide in the Southeast Asia’s fintech landscape

The fund aims to be among the first institutional checks for these companies and retains reserves to support successful ventures in later rounds.

“With the huge uptick in mobile technologies in emerging economies, we see a significant opportunity to connect small businesses and low-income consumers to the digital economy for the first time,” said Michael Schlein, President and CEO of Accion.

Rahil Rangwala, Managing Partner at Accion Ventures, added: “We are excited to support incredible innovators using tech like Gen AI and satellite imagery to deliver sustainable returns alongside real-world impact.”

The new fund builds on over a decade of impact investing under the original Accion Venture Lab strategy. Since 2012, Accion Ventures has deployed US$59.4 million across 76 companies in 39 countries, with 13 exits.

Notable exits include Apollo Agriculture and Pula in Africa, and Lula, a digital SME lender in South Africa.

This shift to the Accion Ventures brand signals a sharpening of strategy: a focus on finding and scaling the most impactful early-stage fintech companies worldwide, especially in markets often overlooked by traditional venture capital.

Also Read: How the global growth of fintech defies age and gender

With one of its earliest investments from this new fund going to Indonesia’s FinFra, the fund underscores its intent to double down on Southeast Asia.

The region’s rapid digitalisation, mobile-first populations, and large unbanked demographics make it a fertile ground for inclusive fintech innovation.

“From Jakarta to Manila, founders are developing localised solutions for unique financial pain points. We’re well-positioned to support them with capital, networks, and expertise,” said Amee Parbhoo, Managing Partner at Accion Ventures.

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Image Credit: Accion Ventures

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Building a climate deep tech startup in Southeast Asia means navigating a unique set of challenges: development timelines twice as long as software startups, capital requirements that exceed typical seed rounds, and commercialisation cycles often stretching 7–10 years.

Yet opportunity exists for founders willing to work within these constraints. In 2024, climate tech investment in Southeast Asia reached US$26 billion, spanning clean energy, alternative fuels, and decarbonisation technologies, a clear signal that capital is shifting away from fossil fuels.

Still, breakthrough technologies remain critically underfunded, creating selective opportunities for founders building solutions in undercapitalised sectors like industrial process innovation, advanced materials, and specialised applications where performance differentiation creates sustainable competitive advantages.

Fundraising: Peeling the risk onion

Raising money for deep tech isn’t about selling upside. It’s about de-risking, layer by layer, milestone by milestone. Successful founders understand they must systematically peel the “risk onion” for investors: from technical feasibility to product functionality, market readiness to team execution. 

The key insight? Different risk layers matter most at each stage. Early-stage founders should focus on technical validation and initial market signals, while growth-stage companies must demonstrate scalable unit economics and regulatory pathway clarity. This requires tailoring capital strategy accordingly, moving beyond Southeast Asia’s limited deep tech investor base of fewer than 50 active players to tap into a global network of over 500 climate-aligned investors.

Also Read: Eco-investing: Driving change through climate technology and strategic finance

Smart founders diversify capital sources early, blending non-dilutive grants, corporate partnerships, venture debt, and global equity capital into a coherent runway. The message is clear: don’t wait for the regional capital market to mature, build globally from day one.

Product-market fit (PMF): Redefining traction

For deep tech founders, product-market fit (PMF) is less about rapid iteration and more about bridging long R&D cycles, complex technologies, and slow-moving markets. Unlike SaaS startups that can pivot overnight, deep tech ventures must validate not only demand, but also technical feasibility, regulatory fit, and infrastructure compatibility. 

Meaningful traction looks different here: pilot-to-production conversions, repeat orders from strategic customers, and stakeholder validation matter more than traditional user growth metrics. The real challenge? Timing. Many deep tech products solve genuine problems, but adoption stalls if policy, infrastructure, or customer readiness isn’t aligned.

In deep tech, achieving PMF often means creating the conditions for adoption, not just responding to demand. Early traction doesn’t always signal true PMF, and PMF doesn’t always manifest as immediate growth. The critical questions become: what truly signals sustainable demand in deep tech, and how should founders sequence their validation efforts?

IP and patents: Legal shield as a competitive edge

In climate deep tech, you’re often building in public but competing in private. That makes intellectual property (IP) more than a legal formality, it’s your shield, leverage, and growth engine. Yet too often, founders treat IP as an afterthought, rather than an asset that underpins defensibility, valuation, and long-term scale. 

This becomes especially critical in Southeast Asia, where most countries follow a first-to-file system. In a region with major manufacturing hubs and fast-moving competitors, a lack of international patent coverage can open the door to replication and erode your competitive advantage. The challenge lies in balancing patent protection with trade secret strategies while navigating territorial filing requirements across fragmented markets.

Smart founders move from reactive protection to proactive control, treating IP strategy as a core business function rather than a legal checkbox.

Also Read: Climate tech’s shift from doing good to doing well

Go-to-market: Don’t just sell “impact”

Having breakthrough tech doesn’t guarantee sales, especially in Southeast Asia’s fragmented, regulation-heavy markets. Too many climate tech founders double down on R&D and technical validation, only to stall at the pilot stage because go-to-market strategy was treated as an afterthought.

Southeast Asia is not one market. It’s a patchwork of energy systems, regulatory frameworks, and procurement processes. To scale, founders must localise their approach, build in-market partnerships, and design solutions that integrate into existing operations rather than requiring wholesale infrastructure changes.

For founders navigating these complexities, success often depends on having the right frameworks at the right time. Analysis of successful climate tech exits reveals that winning companies translate their technology into clear business value: cost savings, efficiency gains, or risk reduction strategies, not just emissions cuts. While climate impact remains essential, customers still buy ROI.

Scaling in SEA and beyond: What comes next? 

As deep tech ventures move beyond pilots, founders encounter friction that goes far beyond product development: replicating physical systems, embedding operations into local ecosystems, and navigating diverse regulatory regimes, often amid infrastructure gaps and policy uncertainty. 

Scaling in this context isn’t just about growth; it’s about building efficiency, repeatability, and sustainable revenue models in fragmented, complex markets. The biggest scale-stage challenges include upfront capital requirements, regulatory complexity, technology spillover risks, value communication gaps, and the critical need for strategic partnerships.

Also Read: Investing in climate tech: Why investors should focus on impactful, low-hanging fruits

The real edge for founders thinking beyond borders isn’t just great technology—it’s knowing when to lead with innovation, when to localise for market fit, and when to partner for credibility and access.

The path forward

These insights represent patterns observed across successful climate tech ventures in Southeast Asiam, companies that have navigated the region’s unique combination of opportunity and complexity. The frameworks discussed here emerged from analysing real portfolio data, conducting field research, and synthesising expert voices across the region.

Drawing on insights from leading investors and successful exits, this tactical approach was developed through collaboration between, Earth Venture Capital, ENGIE Factory, The Radical Fund, and ADB Ventures, organisations collectively backing the next generation of climate solutions across Asia.The complete Green Scale-Up Guidelines provide founders with battle-tested frameworks for each stage of this journey, from initial validation through regional scale.

For deep tech founders, the message is clear: Southeast Asia’s friction can become opportunity, but only for those equipped with the right tools and regional expertise to navigate the path from pilot to scale.

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Across Asia, the twin pressures of land scarcity and climate change are threatening the stability of our food systems. The lessons of the recent COVID-19 pandemic made it clear to many countries that food security needs to be addressed at multiple levels.

Unpredictable weather patterns, floods, and droughts are already putting pressure on fragile harvests. Rising input costs and supply chain disruptions make life even harder for farmers, many of whom operate at subsistence levels.

Food security, once treated as a distant policy matter, is now a pressing economic challenge. Without innovation to help farmers produce more with less, yields will drop, produce will become scarcer, and the costs of living will spiral. The stakes are high not just for farmers but for everyone who relies on affordable, stable access to food.

The role of agritech startups

Agritech startups are at the forefront of reshaping agriculture to meet these challenges. They are combining financing, technology, and market access to empower smallholder farmers. These aren’t just productivity tools, they’re interventions addressing deep structural weaknesses in the agricultural value chain.

By introducing precision agriculture, alternative financing models, and fairer market linkages, agritech ventures are helping farmers adapt to modern realities while building resilience against shocks. Technologies that were once the preserve of the global north are now being developed domestically to meet local needs, and that’s exactly the kind of tech I like.

I grew up hearing stories of overpaid consultants in the West creating “solutions” farmers couldn’t afford, which sometimes left them worse off. The founders I’ve met and worked with are flipping that story on its head.

Also Read: Indonesia’s agritech landscape: Keys to building a scalable agriculture startup

Agritech companies to watch out for

I’ve always believed that entrepreneurs are the greatest catalysts for positive change, and that would be one of the main reasons I’ve been so actively involved with Accelerating Asia Ventures. Through them I’ve had the privilege of working with founders who are reimagining farming across diverse markets:

• iFarmer: Transforming farming in Bangladesh by providing access to financing, affordable inputs, and reliable buyers, reducing the uncertainty that discourages small-scale farming investment.
• WeGro: Connecting investors with rural farmers in Bangladesh, enabling capital to flow into agricultural projects that generate both financial returns and social impact.
• Aunker (iPAGE): Offering tech-driven advisory services and precision agriculture tools to help farmers make informed decisions that boost productivity and profitability.
• EasyRice: Using AI-powered image recognition to improve rice grading, helping Thai farmers get fairer prices and reducing post-harvest losses.
• Godaam: Expanding into input financing so farmers can access seeds, fertilisers, and equipment when they need them most.
• Farmdar: (Not an AAV portfolio company, but amazing founders and tech) – Leveraging satellite imagery and AI to provide insights on irrigation, fertilisation, and crop health, enabling higher yields with fewer resources.

Fintech takes a twist

You might not immediately think fintech has a role here, but WeGro, iFarmer,in particular are performing fintech functions and could become significant fintech players in their markets without even pitching to anyone as a fintech.  One of these founders has an ex-banking and finance executive as a CFO after realising this was something he needed to build trust and credibility as an agritech founder.

Too often we think of fintech as remittance, banking, or other “first-world” solutions. But the agricultural fintech market is huge, overlooked, and underdeveloped. Financing farmers and enabling seamless transactions in rural economies could unlock enormous value.

Insuretech too

Beyond boosting yields, protecting farmer livelihoods is critical. Livestock and crop failures can wipe out an entire year’s income. In Bangladesh, two innovators are stepping up:

• InsureCow (introduced to me at Tenity’s demo-day): Bringing accessible livestock insurance to rural farmers, protecting incomes against cattle loss from illness or accidents.
• Chhaya: An emerging insurer looking to expand into agricultural insurance, protecting farmers from unpredictable events that threaten their harvests.

Why agritech matters for everyone

It’s easy to think of agritech as benefiting only rural communities. The truth is it underpins the resilience of our entire food system. In many Asian countries, smallholder farmers produce a large share of the domestic food supply.

If these farmers can’t access affordable financing, modern tools, or insurance, they face lower yields and higher risks. This reduces supply, pushes up food prices, and increases inflationary pressures in urban areas, thus impacting everyone from market vendors to city residents.

Also Read: How Southeast Asia’s agritech startups are turning smallholder farms into high-tech powerhouses

Technology as a multiplier

The solutions being built today aren’t just incremental improvements, they’re exponential multipliers. Precision agriculture reduces wasted inputs, digital marketplaces improve price discovery, and agricultural insurance empowers farmers to take calculated risks on higher-yield crops without fear of financial ruin.

For investors, agritech offers high-impact opportunities that can scale regionally while tackling urgent sustainability challenges. For policymakers, it’s proof that private-sector innovation can complement public efforts on food security.

The road ahead

The next decade will be decisive for agriculture in Asia. We’ll need to produce more food for a growing population, with less land and more volatile climate conditions. Meeting this challenge requires collaboration between governments, development agencies, investors, and the startups driving innovation.

At Accelerating Asia Ventures, I’ve seen determined founders reshape entire industries. The agritech entrepreneurs we work with aren’t just building profitable companies but they’re laying the foundation for a food-secure future. Supporting them isn’t just good business; it’s a necessity for economic stability and social wellbeing.

The future of farming will be digital, data-driven, and inclusive. Thanks to these innovators, that future is already taking root (pun totally intended!).

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The narrative of a year-end rally persists but faces headwinds from softening labour data and geopolitical shifts. In my view, this moment represents a healthy pause in an otherwise robust bull market that began surging after the dramatic events of April 2025. That month marked what President Trump dubbed Liberation Day on April 2, when he unveiled sweeping tariffs across nearly all sectors of the US economy.

The announcement sparked immediate panic and a sharp sell-off, but markets quickly rebounded as companies announced massive onshore investments to sidestep the trade barriers. This rally propelled the S&P 500 and Nasdaq to impressive heights over the summer. Still, now signs of fatigue emerge in both the US and China, the two economic powerhouses driving global growth.

Market exhaustion and sector pressures

The United States stock market showed clear exhaustion last Friday, with major indices closing lower amid broader concerns about the pace of economic expansion. The S&P 500 declined by 0.32 per cent, the Nasdaq Composite edged down 0.03 per cent, and the Dow Jones Industrial Average fell 0.48 per cent. Energy and financial sectors led the downturn, as traders reacted to softer-than-expected labour figures and anticipation of Federal Reserve actions.

Nvidia, the bellwether of the technology sector, dipped below its 50-day moving average for the first time in weeks, trading around US$172 per share, while the average hovered at US$172.32 per share. This technical breach signals potential volatility in tech-heavy indices, where Nvidia’s performance often sets the tone.

The AI hype meets reality

Investors poured billions into artificial intelligence plays earlier this year, fuelled by the post-Liberation Day optimism, but now they demand tangible results rather than vague promises. Companies must demonstrate how AI translates into revenue and efficiency gains, or risk sharp corrections.

Salesforce exemplified this shift last week when its shares faced pressure amid fierce competition in the AI arena. The company rolled out new AI products under its Agentforce platform, aiming to empower small and medium-sized businesses with autonomous agents for tasks like customer service and data analysis.

However, rivals like Microsoft and Google intensified their offerings, with integrations that challenge Salesforce’s dominance in customer relationship management. Salesforce executives highlighted predictions that AI agents will transform industries by 2025, enabling smaller firms to compete with giants through more intelligent automation. Yet, market reaction turned skeptical as earnings reports revealed slower adoption rates than anticipated.

Also Read: Unleashing AI’s potential: The vital role of human guidance in AI’s growth and learning

In my opinion, Salesforce remains well-positioned for the long term because its ecosystem seamlessly integrates AI across sales, marketing, and service tools. However, short-term hurdles from competition could cap the upside until proof of widespread deployment materialises. This evolving AI theme underscores a broader market maturation, where hype gives way to fundamentals.

Currency markets and the dollar debate

On the currency front, bets against the US dollar appear overly aggressive at this juncture. The Dollar Index closed 0.6 per cent lower last Friday at around 97.93, reflecting heightened expectations for Federal Reserve rate cuts. A steadier US economy, combined with persistent inflation above the Fed’s target, suggests fewer cuts than the market currently prices in, anticipating about five 25-basis-point reductions through September 2026.

The August non-farm payrolls report added fuel to this fire, showing only 22,000 jobs added, far below the forecasted 75,000, while June figures were revised to an outright loss. Unemployment climbed to 4.3 per cent, the highest in nearly four years, prompting traders to bake in a 25 basis point cut for the September 17 meeting and even 12 per cent odds of a 50 basis point move.

Yet, I believe the dollar’s downside remains limited. President Trump’s administration has secured over US$5 trillion in new onshore investments from companies and countries alike, including a US$1 trillion commitment from Japan and US$600 billion from Saudi Arabia over the next four years.

These inflows, aimed at bolstering domestic manufacturing amid the trade war, will sustain demand for the greenback. If the Dollar Index surges past 100, it could pressure US equities, particularly megacap stocks like those in the Magnificent Seven, which derive significant revenue from overseas operations.

Seasonal corrections and buying opportunities

A pullback of five to seven per cent in the S&P 500 seems likely, and perhaps steeper for the Nasdaq given its outsized gains since the Liberation Day rebound. The index wiped out all 2025 losses by mid-May, climbing from April lows around 6,000 to current levels near 6,450. No major negative catalysts loom on the horizon, such as earnings disappointments or policy shocks, so any correction should prove shallow and short-lived.

Strong buy orders cluster at key support levels, like the 200-day moving average for the S&P around 6,200, which could absorb selling pressure and preserve constructive sentiment heading into the traditional post-September rally. Historically, markets often experience the “September blues” but rebound strongly into year-end, especially when central banks ease their policy. With the Fed poised for cuts and global liquidity ample, I see this dip as a buying opportunity for long-term investors focused on AI and infrastructure themes.

Global macro landscape

Turning to the macro landscape, global risk appetite found some relief after US indices trimmed losses from recent peaks. Traders parsed the soft labor data, which highlighted a cooling job market without tipping into recession territory. The Bureau of Labor Statistics reported that average hourly earnings rose 0.3 per cent to US$36.53, indicating that wage pressures persist and could keep inflation sticky.

Also Read: Gold slumps, oil tanks, Bitcoin hangs by a thread: The global market meltdown no one saw coming

US Treasuries extended their rally, with the two-year yield dropping 7.9 basis points to 3.51 per cent and the ten-year yield falling 8.7 basis points to 4.07 per cent. This flight to safety reflects bets on aggressive Fed easing, but longer-term yields remain elevated due to fiscal expansion under the current administration. Gold prices climbed 1.2 per cent to hold above US$3,500 per ounce, reaching US$3,590 on Monday as a hedge against uncertainty.

Brent crude oil retreated 2.2 per cent toward US$65 per barrel, with OPEC+ signalling plans to increase production amid ample supply and softening demand forecasts. S&P Global analysts predict dated Brent could slide to US$55 by year-end, pressured by trade tensions and slower global growth.

Asia’s market resilience

Asian equity markets opened stronger on Monday, buoyed by political developments in Japan. The Nikkei 225 advanced 1.62 per cent to 43,714, leading gains after Prime Minister Shigeru Ishiba announced his resignation over the weekend. Ishiba stepped down following his Liberal Democratic Party’s historic election losses in July, which eroded his support and raised questions about fiscal policy continuity.

The yen weakened against the dollar on fears that political instability would delay Bank of Japan rate hikes, trading near 150 yen per chat. South Korea’s Kospi rose 0.24 per cent to 3,212, while Australia’s ASX 200 dipped 0.45 per cent.

Investors now await China’s August trade data, released later today, to assess the trade war’s toll. Exports grew at the slowest pace in six months, missing forecasts as shipments to the US declined sharply despite a brief truce in tariffs. Imports fell even more, signaling weak domestic demand. The US imposed tariffs up to 145 per cent on Chinese goods this year, escalating the conflict and prompting Beijing to retaliate with measures on American agriculture and tech.

In my assessment, China’s economy faces headwinds from this standoff, but stimulus measures, such as fee cuts in its US$4.9 trillion mutual fund industry, could provide a buffer. Overall, Asian markets demonstrate resilience, with tech and value stocks trading below their estimated worth, offering attractive entry points.

Crypto markets: Signs of recovery

The cryptocurrency market mirrored broader risk assets, with Bitcoin staging a modest recovery after three weeks of declines from its all-time high of US$124,474. The leading digital asset steadied at around US$110,900 on Monday, up nearly three per cent for the week. Technical indicators support further upside if momentum builds. The Relative Strength Index on the daily chart rose to 46, indicating a shift toward the neutral 50 level as bearish pressure subsides.

The Moving Average Convergence Divergence flashed a bullish crossover on Saturday, signalling improving sentiment and potential buy opportunities. Should Bitcoin push past its daily resistance at US$116,000, it could extend the rally toward US$120,000, driven by institutional inflows and halving cycle dynamics. However, a breakdown below US$105,573 in support might trigger a deeper correction toward US$100,000, especially if equity markets wobble.

Also Read: Markets plunge into September chaos: Tech titans tumble as global tensions ignite

Ethereum, meanwhile, consolidated between US$4,232 and US$4,488 for nine straight days, trading around US$4,300 after bouncing from the lower boundary. The RSI hovered near 50, reflecting trader indecision. A close above US$4,488 could propel Ethereum toward its record high of US$4,956, bolstered by network upgrades and ETF approvals.

Conversely, a drop below US$4,232 risks testing the 50-day exponential moving average at US$4,077. In the crypto realm, I remain bullish on both assets as adoption accelerates, but volatility tied to macro events like Fed decisions warrants caution. Bitcoin’s role as digital gold strengthens amid dollar strength debates, while Ethereum’s utility in decentralised finance positions it for outsized gains if AI integrations proliferate.

Closing thoughts: A balanced outlook

In reflecting on this market snapshot, I advocate a balanced yet optimistic stance. The post-Liberation Day rally transformed the economic landscape, channeling trillions into US onshore projects that promise job creation and supply chain resilience. Sure, trade wars with China inflict pain, curbing export growth and inflating costs, but they also spur innovation and domestic investment.

The weak jobs report underscores the need for Fed easing, which should lubricate markets without igniting inflation spirals. Political turbulence in Japan adds uncertainty, but history shows such transitions often lead to pro-growth policies.

For investors, focus on quality names in AI, renewables, and infrastructure to navigate the pullback. A five to seven per cent dip offers a chance to accumulate, as year-end tailwinds from holiday spending and tax strategies loom large.

Crypto enthusiasts should view Bitcoin’s technical rebound as a sign of resilience, while Ethereum’s consolidation suggests a breakout if global liquidity flows in. Overall, markets are taking a breather now, but the underlying momentum remains upward. Prudent positioning today sets the stage for substantial rewards by 2026.

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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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