Qarbotech, a Malaysian startup that enhances photosynthesis via advanced carbon quantum dots material, has raised US$1.5 million in funding from 500 Global, Better Bite Ventures, ID Capital, EQT Foundation, and Epic Angels Limited.

The seed extension round will enable Qarbotech to scale its operations in Malaysia, Indonesia, Thailand, and Vietnam, where demand for advanced agritech solutions is surging.

Also Read: Greentech revolution: Catalysing software’s success to drive a sustainable future

“This investment will allow us to ramp up production and bring our patented solutions to more farmers across the region, empowering them to produce more with less environmental impact,” said Amirul Merican, COO of Qarbotech.

As part of its expansion, Qarbotech is opening its first manufacturing facility in Puchong, Malaysia. The facility can produce 100,000 litres of QarboGrow monthly.

Qarbotech is a sustainability and green-tech company. Its flagship product, QarboGrow, is a photosynthesis enhancer that helps farmers increase crop yields by up to 60 per cent while reducing their environmental footprint. Thus, the firm promotes sustainable agriculture solutions that contribute to carbon sequestration.

“Our product QarboGrow is a breakthrough in plant science, using organic, biocompatible carbon quantum dots to dramatically boost light absorption and increase crop yields by up to 60 per cent. This enhancement addresses food security challenges and optimises fertiliser use, reducing the need for excessive fertilisation that could lead to soil degradation and pollution,” Chor Chee Hoe, CEO of Qarbotech, said.

In Indonesia, Qarbotech’s pilot project with PT Iceh Agro Indonesia covering 400 hectares of rice fields demonstrated an increase of up to 1 tonne per hectare in rice yields and a substantial boost to farmer incomes.

Also Read: How AI and automation can shape the future of farms

The firm’s carbon quantum dot technology also addresses carbon sequestration by enabling plants to absorb more carbon dioxide, reducing greenhouse gas emissions.

“Can you imagine the same farmer with the same land, labor and workflow, being able to produce up to 60 per cent more food? Qarbotech’s photosynthesis multiplier does exactly that. We believe their technology will be mission-critical to regions vulnerable to climate change,” shared Khailee Ng, Managing Partner, 500 Global.

The post Qarbotech secures US$1.5M funding to boost farm yields by 60% appeared first on e27.

Urban infrastructure is often prone to wear and tear, leading to safety risks and costly repairs if not properly maintained. Traditional inspection methods can be invasive, time-consuming, and inefficient, making it difficult to detect hidden structural issues. Singapore-based WaveScan addresses this challenge by offering a non-destructive, AI-powered inspection solution that enables cities to monitor and manage infrastructure more effectively, ensuring safety, longevity, and sustainability.

A spin-off from A*STAR, WaveScan harnesses electromagnetics-based sensor technology and AI to offer a cutting-edge non-destructive testing (NDT) solution for urban infrastructure. Their approach ensures the safety, resilience, and sustainability of cities by providing data-driven insights for managing and maintaining critical infrastructure.

By focusing on NDT, WaveScan aims to extend the lifespan of infrastructure, enhance safety standards, and promote efficiency in urban development.

Founded by Dr. Kush Agarwal in 2018, WaveScan has benefited from strong support from A*STAR. Senior scientists contributed to the development of its core radar sensor technology and signal processing algorithms. The company has grown through government grants, awards, and a successful SEED funding round in 2021.

Also Read: BuildHub PH: Pioneering the future of construction

Now boasting a team of 11 professionals, WaveScan is at a pivotal point, with recurring revenue contracts and a hybrid business model of equipment sales, leasing, and technology-enabled services. As they expand, the company is ramping up operations to manage its increasing customer base.

Learn more about them in this email interview with Dr. Agarwal. The following is an edited excerpt of the conversation.

What are the problems that you aim to solve with Wavescan, and why is your solution better than the existing alternative?

Today’s built environment industry uses destructive testing to precisely measure embedded or concealed structures, such as metallic rebars inside concrete slabs and brackets holding facade panels. This is mainly because most non-destructive testing (NDT) technologies lack spatial resolution, meaning they cannot scan and image accurate dimensions and conditions of the embedded/concealed structures.

Over the years, we have developed a high-resolution microwave holographic imaging (MHI) technology that enables the needed spatial resolution for these target use cases to conduct diagnostics imaging rather than pre-screening and minimise destructive testing.

Since our scanning technology is fully contactless, we are automating the inspection processes using robotics, hence also addressing the manpower and safety issues in our Built Environment industry.

Can you tell us about the product development journey at WaveScan?

Since the inception of WaveScan, our core focus while developing the product has been understanding the industry requirements and end-users. Most of our early team members were scientists and researchers, so we had the necessary skills to develop the tech but needed to gain more profound know-how of the Built Environment industry’s pain points.

Also Read: VinFast to soon begin construction of US$500M EV factory in India

Since the start, we have been working closely with the Building Construction Authority (BCA) to learn about these industry technology gaps and Singapore’s regulations around structural and facade inspections and showcase our capabilities to get expert feedback. Once we had a minimum viable product (MVP), we started test-bedding it with various commercial clients for their diverse use cases.

The technology was extensively advanced during those phases before we commercially launched the first generation of our scanner product. Since this electronic hardware system uses electromagnetic waves, the scanner underwent various regulatory compliance tests before achieving the Certificate of Conformity Europe (CE) mark and later Infocomm Media Development Authority (IMDA) registration for registration in Singapore.

Please tell us more about your users or customers!

The built environment industry is fast evolving, and technology is being adopted to address its diverse needs.

Since our MVP stage, we have worked closely with early adopters to test-bed, advance, and sometimes customise our tech solution to meet specific inspection requirements. Our customers comprise private construction, inspection services, facilities management (FM), and professional engineers (PE) firms, to Government agencies such as the Housing Development Board (HDB), all of whom have been incoming requests, meaning we do not do marketing and pre-sales at the moment.

Also Read: VinFast to soon begin construction of US$500M EV factory in India

We actively engage in our Built Environment’s ecosystem and get introduced to these companies via referrals or word of mouth. Our current focus is on scaling up nationally with HDB with ongoing deployments on water leakage detections using our first-of-kind IngressScan tech solution. We also have a few ongoing overseas engagements, such as nuclear power plants and tunnelling works, where end clients are engaging with us for our accuracy in scanning the exact diameters and locations of rebars.

What is your funding history?

At WaveScan, we have been extremely fortunate to receive robust support from Singapore’s government agencies, including non-dilutive grants and startup awards totalling over US$2 million. This enabled us to raise capital selectively until the pre-product was ready and successfully benchmarked and validated by commercial customers.

We raised our SEED Round in 2021, using the funds to clear the regulatory tests, achieve CE marks, and launch the commercial product in early 2022. Over the last two years, we have built our revenue numbers to establish year-on-year growth and break-even revenue last year.

We are fundraising to fuel the company’s growth with a customer base in six countries outside Singapore, including Hong Kong, Japan, India, Australia, China, and Saudi Arabia. Financial prudence is vital to building deep-tech companies, which need longer go-to-market time and break-even and inflexion points in business, and we have followed this principle carefully since the start of WaveScan.

What is your big plan for 2024 and beyond?

We are now at a scale-up stage with established commercial use cases of our technology in the Built Environment industry.

Earlier this year (2024), we started piloting our IngressScan2122, a water leakage detection solution with HDB. We plan to roll it out nationwide next year!

Also Read: Indonesia’s construction-tech startup Gravel secures US$14M

Building upon our successful engagements in Singapore and similarities in industry regulations, we have incorporated our Hong Kong subsidiary. We are working on replicating our use cases with industry stakeholders there.

This year, we have also engaged with major oil and gas companies outside Singapore, particularly in Australia and Saudi Arabia. We have already been working with the top three in Singapore.

Our significant plans for 2024 and beyond are now to scale globally in the strategic target markets and build up ARR clients.

We also look forward to continued BCA support and guidance and events like International Built Environment Week (IBEW) 2024, which help us network and spread the word. While at home, as a Singaporean home-grown construction tech startup, we want to grow nationwide with HDB and help them solve resident’s issues, improving the turn-around time of complaints to address the root causes, enhancing the quality of life in public housing and hence our technology benefiting lives of everyday Singaporeans.

That would be the right way of giving back to Singapore’s taxpayers, as we’ve benefited from various government grants.

—

Image Credit: Wavescan

The post WaveScan, revolutionising urban infrastructure safety with AI-powered non-destructive testing appeared first on e27.

Imagine you’re dining at a fancy restaurant. The ambience is perfect, and the food looks delicious, but the waiter gets your order wrong, forgets your drink, and you’re left waiting ages for the bill. How would you rate that experience? A solid five-star or a begrudging two?

Now, flip this scenario to your contact centre: every call, chat, or email is a “dining experience” for your customers. And just like in the restaurant, every interaction shapes your customers’ perception of your brand.

This is why tracking Customer Satisfaction (CSAT) is your golden ticket to understanding what’s working, what’s not, and where you can sprinkle a little more magic.

What’s CSAT, and why should you care?

CSAT, or Customer Satisfaction Score, is essentially the “How did we do?” question you ask your customers after they interact with your support team. It’s the equivalent of handing them a feedback card after every service. While it might sound simple, CSAT is the pulse check your contact centre needs to ensure your customers are happy campers. After all, a happy customer is a returning customer, and a returning customer is good for business!

The domino effect of ignoring CSAT

Neglecting CSAT is like ignoring a leaky tap; the trickle might not seem like much, but eventually, it floods your house. Poor CSAT scores can spiral into negative reviews, lost business, and a reputation that’s harder to fix than a dodgy plumbing job. When customers feel unheard, they’re not just leaving; they’re slamming the door behind them and telling everyone about it.

Take Jane, for example. Jane calls your support team about a billing issue. The agent is unhelpful, Jane leaves frustrated, and next thing you know, she’s venting on social media. Now, it’s not just Jane who’s unhappy, but every potential customer who reads her post. This is where tracking CSAT comes into play—it’s your early warning system that things need to change before they escalate.

How can you improve CSAT? Let’s break it down

Personalisation is key

When customers feel like just another ticket number, dissatisfaction isn’t far behind. Use their names, understand their history, and tailor your responses. It’s like adding a personal touch to a handwritten letter—it feels good. One way to get this right is by using tools like CRM integrations that give your agents a full view of the customer’s journey.

Speed up response time

In the age of instant everything, waiting feels like forever. Ensure your agents are equipped to handle queries quickly and accurately. Think of it as being the Usain Bolt of customer support—fast, efficient, and leaving a lasting impression.

Automate support – your secret weapon

Automation isn’t about replacing humans; it’s about making them superhuman. Imagine a world where chatbots handle the repetitive stuff, AI tools assist with suggested responses, and your agents only step in when human touch is truly needed. This frees up your agents’ time to focus on complex queries and build rapport with customers. It’s a win-win; customers get quick responses, and agents get to shine in their areas of expertise.

Also Read: Why fintech companies should learn about customer retention from e-commerce companies

Listen and learn

Use feedback, good or bad, as a roadmap to improvement. If 10 customers say your hold music is annoying, maybe it’s time to change the tune—literally. Continuously tweak your processes based on what customers are saying, and watch your CSAT scores soar.

Automating the path to higher CSAT

Automation is not just a buzzword; it’s the backbone of a modern contact centre. With AI-driven solutions, you can analyse conversations in real time, predict customer sentiment, and even suggest the best next steps for your agents. It’s like having a crystal ball that guides you to deliver exceptional service every time. Automation also helps keep a close eye on those all-important CSAT scores, spotting trends and problem areas faster than any human could.

Plus, automation tools can seamlessly collect CSAT data at the end of each interaction, giving you a constant flow of insights without bothering your agents to chase feedback. It’s like having a 24/7 feedback loop that never sleeps.

CSAT isn’t just a number — it’s your brand’s reputation

Tracking CSAT is your direct line to understanding customer happiness. It’s not just about numbers; it’s about using those insights to fine-tune your contact centre into a well-oiled, customer-pleasing machine. So, don’t treat CSAT as an afterthought; make it your priority. Because when your customers are smiling, your business is winning—and that’s a 5-star scenario we all want to be part of.

—

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

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image credit: Canva Pro

The post The secret sauce to happy customers appeared first on e27.

The post ‘Step Zero Before the Hustle’: The psychology of entrepreneurial success appeared first on e27.

Blackpanda, a cyber emergency response startup based in Singapore, has raised US$6.7 million in strategic funding from Singtel Innov8, Gaw Capital Partners, and WI Harper Group.

This brings the firm’s total Series A round to US$21.7 million.

The fresh financing will accelerate Blackpanda’s expansion across Asia and enhance its IR-1 cyber security solution.

Blackpanda provides solutions for businesses to prepare for, respond to, and recover from cyberattacks. Its IR-1 solution addresses the entire cyber attack lifecycle. It ensures readiness through incident response preparation services enhanced by proactive attack surface management (ASM), expedites response with 24/7 incident response, and delivers automated access to financial recovery via comprehensive cyber insurance.

Also Read: Cybersecurity firm Blackpanda closes US$15M Series A to deepen its Asia presence

This unified approach simplifies cyber security management, reduces costs, and provides businesses with immediate access to enterprise-grade protection and emergency response services.

“With the growing demand for cost-efficient and effective cyber incident response and cyber insurance across Asia Pacific, we see a significant opportunity for Blackpanda’s localised and segment-focused product suite to expand and grow in the region,” said Wan Kum Tho, MD Investments, APAC of Singtel Innov8.

Blackpanda counts major telecommunications providers as strategic partners of its cyber protection solutions across Asia, including Singtel, Macroview (an HGC group company), and Companhia de Telecomunicações de Macau (CTM).

In January last year, Blackpanda secured US$15 million in its Series A funding round led by Primavera Venture Partners and Gaw Capital Partners.

The post Cybersecurity startup Blackpanda raises US$6.7M for Asia expansion appeared first on e27.

Qist Bazaar, a buy-now-pay-later company based in Pakistan, has received US$3.2 million in Series A financing led by Indus Valley Capital, with participation from Gobi Partners.

The capital will accelerate the fintech startup’s growth by expanding its product portfolio, enhancing its technology infrastructure, and scaling operations across Pakistan. The company plans to establish a presence in Islamabad, Sukkur, Faisalabad, and Multan and increase capacity in Karachi and Lahore.

Also Read: How BNPL can provide lower-income households with new opportunities

Additionally, new product categories, such as solar power generators for small households, are being introduced.

Qist Bazaar provides installment-based payment solutions to unbanked and underbanked segments of the population. It enables Pakistanis from all walks of life to purchase essential goods, such as mobile phones and home appliances through affordable monthly payments.

Since its inception three years ago, the platform claims to have disbursed over 55,000 product-based loans amounting to US$12 million,

The platform caters to a wide range of customers, from those with no financial history to individuals already banking at established institutions.

Qist Bazaar’s customers include domestic workers, rickshaw drivers, students, and micro-entrepreneurs to access installment-based financing.

The company has also introduced a hybrid scoring model that leverages traditional and alternative methods to assess creditworthiness, making it easier for unbanked consumers to participate in the formal financial system.

Qist Bazaar has benefitted from an early equity partnership with Bank Alfalah, which led their seed round. As part of this strategic collaboration, It will get access to debt financing from some of Pakistan’s leading financial institutions, further enhancing its capacity to serve customers with limited or no access to formal credit.

Also Read: Report: BNPL remains popular amongst Indonesian fintech services users

Aatif Awan, founder and managing partner at Indus Valley Capital, said, “We see enormous potential in Qist Bazaar’s ability to fundamentally reshape consumer financing in Pakistan, similar to what Bajaj Finance did for India.”

The post Gobi Partners joins Pakistani BNPL startup Qist Bazaar’s US$3.2M round appeared first on e27.

In a new research released today, Bain & Company revealed that the market for Artificial Intelligence (AI)-related hardware and software is expected to grow between 40 per cent and 55 per cent annually, reaching between US$780 billion and US$990 billion by 2027.

The fifth annual Global Technology Report provides insights on the new waves of growth in the technology sector as a result of disruptions from the fast-changing AI advancements.

According to the report, three areas could enable the AI hardware and software market to come close to a trillion-dollar industry in the next three years: Bigger models and larger data centers, enterprise and sovereign AI initiatives, and software efficiency and capabilities.

As AI scales, the demand for computing power will drive rapid growth in large data centers over the next five to 10 years. Currently, these centers operate at 50–200 megawatts, but AI advancements could push this to over a gigawatt.

The cost of building large data centers, now ranging from US$1 billion to US$4 billion, is expected to soar to US$10 billion to US$25 billion within five years.

Also Read: Seizing the e-commerce wave: Unveiling opportunities in Southeast Asia

This surge could also lead to a semiconductor shortage. AI’s increasing reliance on GPUs could boost demand for upstream components by over 30 per cent by 2026.

The research highlighted that, if data centres double their need for current-generation GPUs, suppliers of key components will need to increase output, while chip packaging producers will likely need to triple capacity.

Geopolitical tensions may exacerbate this challenge, leading to potential semiconductor supply issues.

The rise of generative AI has also pressured software developers to improve efficiency. Generative AI can cut software engineering time by 10 per cent to 15 per cent, pushing companies to optimise processes and derive greater value from AI integration.

“Generative AI is the prime mover of the current wave of change, but it is complicated by post-globalisation shifts and the need to adapt business processes to deliver value. Companies are moving beyond the experimentation phase and are beginning to scale generative AI across the enterprise,” said David Crawford, chairman of Bain’s Global Technology practice.

He also said that this will impact the role of CIOs in promoting innovation. “As they do, CIOs will need to maintain production-grade AI solutions that will enable companies to adapt to a landscape that is quickly shifting. Essentially, they need to adopt an ‘AI everywhere’ approach.”

Also Read: Unlocking the potential: How the digital ecosystem drives transformation in the insurance industry

How this will impact tech M&A

The research also explored the topic of tech mergers and acquisitions (M&A). It concluded that tech M&As have become more unpredictable, with companies now focusing on acquiring new capabilities, products, or markets rather than scaling up.

It also revealed that “scope deals” in the tech industry grew from 50 per cent to 80 per cenr between 2015 and 2018, maintaining this level ever since. Scope deals now account for nearly 80 per cent of all tech M&A, a far greater share than in most other sectors.

Despite this, regulatory scrutiny remains high, and there is no indication of a return to large-scale deals soon.

—

Image Credit: © rawpixel, 123RF Free Images

The post AI will spur growth in data centres, potentially leading to semiconductor shortage: Bain & Co appeared first on e27.

In an era where technology influences nearly every facet of life, education is no exception. As a global leader in technological adoption, Singapore is pioneering a significant shift in education through the Ministry of Education’s (MOE) EdTech Masterplan 2030, which seeks to integrate technology into classrooms fully, enhancing teaching methods and learning outcomes.

As the world rapidly moves toward a digital future, schools and parents need to ensure that students are not only prepared to navigate this landscape but are also equipped to lead in it.

The move towards tech-driven education

Digital literacy has become a critical focus as Singapore’s education system evolves, extending beyond basic tech skills that encompass the ability to manage, analyse, and critically evaluate digital information. Central to this evolution is the emphasis on Artificial Intelligence (AI) literacy, with the MOE equipping students not only to use AI but also to understand its potential and limitations.

AI is swiftly becoming a cornerstone of modern technology, and its significance is expected to grow. Singapore’s educational approach is designed to ensure that students are prepared to harness AI effectively, both in their academic pursuits and future careers. This forward-thinking strategy aims to provide students with the skills needed for a future where AI will be central to nearly every industry.

Edutech’s role in personalising education

The integration of EdTech into Singapore’s classrooms is more than just adding new tools — it signals a shift towards transforming educational practices to better meet the diverse needs of students. Traditionally, education has relied on a “one size fits all” model, where uniform teaching methods and curricula were designed to cater to the average student.

While this approach has served its purpose for generations, it often falls short in accommodating the varied learning styles, paces, and abilities of today’s students. EdTech offers a transformative alternative, enabling personalised learning experiences that cater to individual needs, fostering a more inclusive and effective educational environment.

This shift from a teacher-centric to a learner-centric approach reflects a broader movement in education, where technology plays a crucial role in facilitating differentiation. For example, edutech platforms offer features that allow teachers to engage in personalised, one-on-one interactions with students, providing targeted support based on individual requirements.

Additionally, these platforms can adapt to the level of difficulty in classroom questions, challenging students of all abilities appropriately. Higher-order questions can stimulate advanced learners, while foundational exercises help those needing additional support.

Why is edutech poised to become the next big thing?

As global education systems increasingly turn to technology, the potential of edutech to reshape learning is immense, with innovations on the brink of revolutionising how we educate future generations.

Among these innovations, Virtual and Augmented Reality (VR/AR) and gamification are emerging as powerful tools that can elevate education by transforming traditional classrooms into immersive, experiential environments. These technologies offer dynamic learning experiences that engage students in ways conventional methods cannot.

Also Read: Edutech is surging, but here are the 3 issues it is facing

Imagine history lessons brought to life through VR, where students can “visit” ancient civilisations and witness historical events firsthand. Consider AR in science classes, enabling students to visualise complex biological processes or chemic al reactions in three dimensions, making abstract concepts more tangible and easier to grasp.

Gamification is another trend gaining momentum in education, as it integrates game-like elements into learning, turning lessons into interactive and engaging challenges. By tapping into students’ natural affinity for play, gamification can transform learning from a routine task into an exciting adventure.

By using real-time dynamic representations of virtual manipulatives in mathematics lessons, students can understand abstract concepts more effectively, making learning both enjoyable and productive.

Looking ahead: Shaping the future of education

The integration of these technologies is not merely about adopting new methods, but about fundamentally reimagining the educational experience.

In Singapore, the future of learning involves harnessing technology to foster a more inclusive and adaptive educational environment. This shift aims to turn students into active participants, driven by curiosity and exploration, while extending learning beyond the traditional classroom into a dynamic digital realm.

Initiatives like the EdTech Masterplan 2030 are leading this transformation, setting a global benchmark for innovation in education. As Singapore continues to pioneer in this space, it exemplifies how the digital classroom is not a distant dream but a current reality shaping the future of education.

—

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

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image credit: Canva Pro

The post The digital classroom: How edutech is sculpting the minds of tomorrow appeared first on e27.

As I went looking for a new pair of sneakers the other day, you could immediately feel the buzz, or not, with the different brands.  Adidas looked revitalised with the “Samba” or “Gazelles” lines. Hoka and their big, almost platform-like soles seemed to be everywhere.  “On”, as a new brand, seems to be pumping, and even New Balance has a bit of pizzazz.

For streetwear like sneakers, there is either buzz or not…. a zeitgeist that captures what’s “in”. Nike, in comparison to other brands, looked stale, like an also-ran brand. It also seemed to be less prevalent — I just didn’t see it as much in my sneaker-shopping journey.

As I dug a little deeper, I saw that the stock has tanked and is half of what it was a year and a half ago. And as we speak, there is a huge investor activist push for significant change.

Yikes, Nike, what happened?

Nike has long personified innovation and leadership in key sporting goods categories such as basketball or running.   The new incoming CEO (John Donahoe) inherited this rich legacy but wanted to show his leadership.   Lots of media coverage and analysis love to point out that he engaged McKinsey, and the strategy outcome was to reorganise and double-down on “digital-first” to drive new efficiencies.

The theory behind the new strategy was to move away from divisions around individual sports categories and go deeper on demographic/persona data and analytics.   This would enable the company to sell more to each market segment.   Simultaneously it would increase digital direct-to-consumer, improve margin and adjust its ecosystem players, such as reducing on-prem wholesaler and retail partners.

“These changes led to hundreds of layoffs and a reorganisation of the company into men’s, women’s, and kids’ categories, moving away from divisions focused on individual sports.”

Nike took its eye off the ball.

True category innovation at the sport level was stifled.  The focus became initiatives such as “how do we sell more to the 35 – 45 male, runner segment?”   And it is less about innovation, and driving the sports categories, and more about a 360 view of consumer behaviour.

Also Read: Lead, don’t follow: The essential guide to category creation and market domination

In other words, I don’t lead you, I listen to you. And that perspective went all wrong: “the company’s failure to innovate and reliance on classic models like Air Force 1s, Air Jordan 1s, and Dunks have left it vulnerable in a rapidly evolving market.”

The leadership and innovation at the category level was kicked aside, in favour of a flawed go-to-market strategy.

If you want to read more on this monumental failure, then The Atlantic had a great article in January this year pointing out the raft of issues from flooding the market with too many of the same line, to a market exhaustion with the retro-cool of Air Jordans.  Unfortunately, they weren’t cool anymore and competitors stole a step on Nike.

And that is at the heart of the issue: true Category Designers and Innovators don’t just look at the data. They look beyond past behaviour. They look at the problem from a different perspective. What’s happening on the urban basketball courts? What happens before and after the hoops game? What’s the missing and how can I attack and solve this gap/problem? How do I define and truly lead the Category?

Also Read: Leading the category, then losing it all: What WeWork can teach us

So Nike whiffed big time on creativity and innovation in the key categories that they used to lead.  And then they made it worse.

Categories don’t exist as a singular company and need an ecosystem to endure. Nike by all accounts messed that up as well.  The overwhelming focus on D2C seemed like a great way to drive improved efficiencies and margin. They exited multiple wholesale and retail relationships (and are now negotiating to get them back). The reality is that many consumers still wanted the physical experience to look and feel the shoe.

Key analysts have commented “Nike’s decision to disengage from long-standing wholesale partners in favor of a direct-to-consumer strategy backfired.  This move allowed competitors like Hoka, On, and New Balance to capture market share at key retail chains.”  Nike clearly blinked, and the competition moved on it.

Will Nike get its “soul” (“sole” ahem) back? They are hiring previous talents who left and that may help, but at the heart of the issue is innovation at Category level, reinforced with an ecosystem that buys into that vision and leadership.

Of all brands, we expect Nike to lead, and not follow. Somehow that got lost, and we will now need to see if they can just do it.

For nimble startups and aggressive growth companies, it offers a master-class in how to look at their own category and ecosystem, and seize opportunities when the competition blinks.

—

The post Seizing opportunity when the competition blinks: Look for category and ecosystem openings appeared first on e27.

Dear reader,

TNG Digital’s potential IPO signals a significant milestone for Malaysia’s fintech landscape. As the largest fintech player in the country, the company has grown rapidly since its inception in 2017 through strategic partnerships with major global players like Ant Financial and Alibaba’s Lazada.

The projected IPO, which could raise over US$300 million, highlights its ambition to strengthen its presence both domestically and across Southeast Asia. The move also aligns with the broader trend of the region’s tech firms seeking capital to expand and compete in a region marked by digitalization and fast-growing financial inclusion.

TNG Digital’s services, including its widely adopted Touch ‘n Go eWallet, already position it as a key enabler of digital payments in Malaysia, boasting over 20 million verified users. With cross-border capabilities and partnerships with global payment giants like Visa, the company is poised for further growth, potentially reaching unicorn status before the IPO.

This expansion into adjacent financial services, such as lending, remittances, and insurance, will only solidify its leadership in the digital financial ecosystem.

However, the timeline remains fluid, as ongoing deliberations suggest the company is carefully considering market conditions before making a final decision on its public offering.

Sainul,
Editor.

—

NEWS & VIEWS

TNG Digital eyes Malaysian IPO in next 2-3 years, sources say
The Malaysian fintech could raise over US$300M; TNG Digital could potentially fetch the valuation of a unicorn before the potential IPO; The company raised US$179.30M from an equity funding round in 2022 led by Lazada and Touch ‘n Go.

Google CEO Sundar Pichai announces US$120M fund for global AI education
Pichai pointed to four broad opportunities for AI: helping people access information in their own language, accelerating scientific discovery, providing alerts and tracking around climate disasters, and fueling economic progress.

Crypto scammers hack OpenAI’s press account on X
Late Monday afternoon, OpenAI Newsroom, an account OpenAI recently created to spotlight product- and policy-related announcements, posted about a supposedly new OpenAI-branded blockchain token, “$OPENAI.”

SoftBank’s Masayoshi Son has been planning his comeback
Son largely disappeared from the public eye after SoftBank’s Vision Fund took huge losses from investments like WeWork; Now SoftBank is betting big on AI, and finding success by taking chip design company Arm public.

Temasek-backed ABC Impact leads Aye Finance’s US$30M Series G
Aye is an MSME lender; With a national presence spanning over 478 branches, Aye has diversified its product offerings to cater to the diverse needs of India’s rapidly growing MSME customer segment across various industries and clusters.

Adam Neumann’s startup Flow opens co-living community in Saudi Arabia
The rent for the furnished units starts at US$3,500 a month and includes hotel-style services such as laundry and housekeeping; Flow is building three other properties with nearly 1,000 apartments in Riyadh.

India’s Oyo acquires Motel 6 for US$525M
The Indian startup opened its first US location in 2019 and now operates more than 320 hotels across 35 states; Motel 6 is arguably the best-known budget motel brand in the US, with a franchise network of around 1,500 locations in the US and Canada.

Sam Altman catapults past founder mode into ‘god mode’ with latest AI post
The OpenAI leader presents an incredibly positive update on the state of AI, hyping its world-changing potential; Far from being an occasionally helpful alternative to a Google search or a homework helper, AI will change humanity’s progress.

MDEC launches investor matching programme
It is a key initiative aimed at connecting tech startups with a vast network of investors; Since its inception in 2020, the programme has facilitated over US$300M in capital matching, significantly supporting the growth of Malaysia’s digital economy.

Vietnam’s VinFast’s Q2 gross loss widens on impairment charge
The gross loss stood at US$224M, which is equivalent to a gross margin of negative 62.7%; This was primarily due to an impairment charge on NRV of US$104 million, compared to US$5 million in Q1.

Indonesia’s eFishery to expand Indian market after positive first year achievements
In India, eFishery has adopted business practices that have been implemented in Indonesia, including the automated smart eFeeder, feed trading services, fingerling support, medication, and pond management with best practices for farmers.

Mox Capital announces strategic support for rapid-scaling startups across SEA
COO Nguyen Dinh Giang said the US-based VC firm seeks to nurture rapid growth in Vietnam and Southeast Asia, especially those that fit the fund’s fast pace and alternative mandate.

FEATURES & INTERVIEWS

The future of Thai startups: Key players shaping the ecosystem
Thailand’s startup ecosystem is booming, driven by government support, investor interest, and key sectors like fintech and agritech.

FROM ARCHIVES

Expert advice for crafting a winning pitch deck, straight from the community
While there are many factors that contribute to the success of a fundraising process, you want to make sure that your pitch deck is spot on.

Cracking the code: Key traction metrics early-stage investors seek in startups
Different investors might consider different traction metrics, depending on the verticals that the startup is working on.

Innovation meets piety: How Netverse sets itself apart as a sharia-compliant metaverse
The IBF Net Group’s involvement in Web3 includes the IBFX token and a number of blockchain projects, including Netverse.

Muuse wants to eliminate single-use containers in Singapore’s thriving F&B scene
In this project, Muuse received support from the SG Eco Fund. It is also expected to launch a full commercial partnership in 2024.

Evercomm wants to pave the way for corporate decarbonisation success
In 2024, Evercomm is looking forward to expanding to the Middle East and Europe, after winning an award at the COP28.

Startups should celebrate failures. This is how to keep the experimenting culture alive
As founders, how do decide which experiments to run and what needs to be considered before experimenting? Startups should celebrate failures.

Essential insights: Crafting a comprehensive cap table for founders
When preparing for a cap table, pre- and post-money valuations are some of the key elements that founders must consider and include.

Visenze reveals its approach to B2B customer acquisition
B2B platforms have their own unique approach to customer acquisition. This is how Visenze does theirs.

The way startups are finding out if there is a pain point to solve
Only when the customers are willing to pay for the solution can the idea be said to be validated.

The coworking experience is not just about space but more about community
Coworking spaces are pushing the boundaries of traditional office spaces, embodying the perfect representation of the modern world.

Equity harmony: Strategies for fair founder equity distribution without discord
So, how much equity should you give your co-founder so that he feels motivated to join and work long hours to make the company successful?

THOUGHT LEADERSHIP

Brands as forces for change: Shaping the future through purpose
In today’s world, where things are fractured — geopolitically, socially, economically — brands have the power to bring people together.

Mastering AI prompt craft: One rule to rule them all
AI models are powerful, but they rely on clear, structured, and thoughtful inputs to generate useful outputs; A well-crafted prompt can save you time, ensure more relevant results, and enable you to fully leverage the AI’s capabilities.

Transforming customer insights into preventative wellness solutions: NalaGenetics’ story
NalaGenetics integrates preventive care with genetic testing to improve health outcomes and drive lasting change.

Filling the funding gap to fuel startup success
Thankfully, the landscape of startup financing is undergoing a significant transformation with the emergence of alternative funding options.

How to use Gen AI enabled chatbots for workplace safety?
By using the power of Gen AI, industries can not only meet but exceed current safety standards, setting a new benchmark for the future.

—

The post Ecosystem Roundup: TNG Digital eyes IPO in 2-3 years | Google CEO announces US$120M fund for AI education | Oyo acquires Motel 6 for US$525M appeared first on e27.