Dear reader,

The lawsuit filed by TikTok and ByteDance against the US government’s law to force divestiture or ban the app reflects the escalating tensions between the US and China in the realm of technology and national security.

TikTok argues that the law violates constitutional rights, including free speech protections. This legal battle underscores the complex geopolitical landscape and the challenges of balancing security concerns with the global digital economy.

With TikTok’s vast user base and economic impact at stake, the outcome of this lawsuit could have far-reaching implications for the tech industry and international relations.

Moreover, it sheds light on broader issues surrounding data privacy, regulatory oversight, and corporate governance in the digital age.

As the legal proceedings unfold, it remains to be seen how policymakers, regulators, and stakeholders navigate these intricate dynamics in the evolving landscape of Internet governance and technology diplomacy.

Sainul,
Editor.

—

NEWS

TikTok, ByteDance sue to block US law seeking sale or ban of app
The companies argued that the law violates the US Constitution on a number of grounds, including running afoul of First Amendment free speech protections; The law, signed by Biden on April 24, gives ByteDance until Jan. 19 to sell TikTok or face a ban.

Ex-Google chief once considered buying TikTok
Eric Schmidt is “not currently looking” at a deal; After leaving Google, he focused on US-China tensions through a think tank that aims to boost the Western country’s competitiveness in AI and other emerging tech sectors.

Singapore has to be realistic on global trends plaguing its stock market: DPM Wong
Deputy Prime Minister Lawrence Wong, who is also the country’s finance minister, said that the conditions for Singapore’s stock market to attract companies to list remain challenging.

Singapore surpasses US in AI investment: Study
Although being placed tenth in the amount of money spent, Singapore invested an amount equivalent to 1.5 per cent of its GDP in 2022, according to the AI statistics report curated by AIPRM.

Amazon to train 15K individuals in AI skills in Singapore
The multifaceted collaboration will help accelerate the adoption of AI and generative AI; Furthermore, Amazon Web Services plans to invest an additional US$9B into its existing cloud infra in Singapore from 2024 to 2028.

Carsome hits first EBITDA positive quarter in Q1 2024
It did not disclose hard numbers, but it partly attributed the development to a “significant” improvement in gross profit per unit, which rose 48% year on year.

India’s Oyo, once valued at US$10B, seeks new funding at 70% discount
The budget-hotel chain startup is engaging with investors, including Malaysia’s Khazanah, for the new funding; The round is likely to see some secondary transactions as well that will value the startup at as low as US$2.5B.

SG crypto firm Galaxis nets US$10M to expand Web3-based community builder
The investors are Chainlink and ENS and its co-founder Nick Johnson; Galaxis offers a community management platform that uses digital membership cards in the form of non-fungible tokens to build and reward communities.

aCommerce mulls share sale at up to US$300M valuation
aCommerce claims to have reached net income profitability in Q4 2023, following three consecutive quarters of EBITDA breakeven; The Thai firm helps businesses manage, market, and develop their online stores.

Biotech co-working provider NSG BioLabs concludes US$14.5M financing round
The investors are Celadon Partners, ClavystBio, and Temasek; NSG BioLabs partnered with Enterprise Singapore and Merck to bolster the biotech landscape by providing funding, expertise and networks to startups.

Rize seeks to decarbonise rice cultivation in Asia with US$14M Series A raise
The lead investors are Breakthrough Energy Ventures, GenZero, Temasek, and Wavemaker Impact; Rize’s technology captures vital agri data essential for implementing sustainable farming practices, making rice farmers more climate-resilient.

ByteDance founder calls Singapore home, TikTok lawsuit against US shows
Legal documents of the lawsuit show Zhang owns 21% of the company – worth around US$40B when taking into account ByteDance’s US$268B valuation as of December 2023; The remaining 79% is held by global investors and employees.

Indonesia’s farmtech platform Elevarm raises US$2.6M
The investors are Insignia Ventures, 500 Global and eFishery’s Gibran Huzaifa; Elevarm will use the money to develop 15 new organic products and set up a new fertiliser production factory equipped with advanced technology.

Indonesia’s restaurant management startup Runchise bags US$1M
The investors are East Ventures and Genesia Ventures; Runchise’s solutions encompass front-store operations, back-office functionalities, integration with online food delivery platforms, and customer engagement.

VinFast to enter Philippine EV race this month
VinFast also aims to build a dealer network across the Philippines as EV adoption has been picking up the pace; Sales in the country are expected to reach 6.6 million by 2030.

PepsiCo names 10 finalists for APAC Greenhouse Accelerator Program 2024
A committee of PepsiCo leaders selected the finalists based on the potential to deliver groundbreaking approaches to sustainability challenges.

Gapai nets US$1M to empower Indonesian workers to pursue global careers
The investors are Wavemaker Partners and Antler; Gapai connects prospective employees with suitable employers for cross-border job placements; It aims to onboard 70K Indonesian workers this year, matching 2,200 with global job opportunities.

Earth VC, Tesla co-founder invest in French aerial inspection startup HyLight
Y Combinator, Ring Capital, Kima Ventures, and Collaborative Fund are the other investors; HyLight’s hydrogen-powered airship drone HyLighter is capable of collecting vital data over extensive distances without emitting GHG.

Wavemaker Impact backs Australian climate-tech startup MetroElectro
MetroElectro is a renewable energy company focused on unlocking the potential of commercial and industrial (C&I) rooftops; It aims to transform overlooked swathes of rooftops in industrial parks.

FEATURES & INTERVIEWS

How xcube’s CVPE initiative seeks to transform venture capital in tech startups
xcube founder Sebastien P delves into CVPE initiative, highlighting its benefits, risk management strategies and startup selection criteria.

Wizly seeks to revolutionise startups’ growth journey by streamlining access to knowledge
Wizly aims to transform how companies scale and how domain leaders earn, providing a revolutionary knowledge monetisation platform.

These 5 marketing analytics platforms are taking the field into the future
Marketing analytics play an important role in the ever-evolving landscape of business as data becomes increasingly complex.

Top 7 startup funding deals in Southeast Asia in April 2024
In April 2024, Southeast Asian tech startups raised a total of US$263M in funding across 36 rounds, according to Tracxn.

One doctor for every family: Good Doctor wants to make healthcare accessible for all Indonesians
Good Doctor allows customers to consult doctors online, buy medicines from Health Mall, and book offline doctor appointments at hospital partners.

Gig workers crave traditional benefits enjoyed by their fulltime worker peers. Jod aims to bridge the gap
Jod, a mobile-first digital platform, aims to streamline the process for employers to find and manage their workforce efficiently.

FROM OUR CONTRIBUTORS

Embracing the NFT revolution: Insights from Anndy Lian’s NFT.NYC speech
Lian highlights the transformative potential of NFTs, signalling a future where digital ownership and creativity thrive in a secure, inclusive ecosystem.

Young, tech-savvy, unbanked: Southeast Asia ripe for digital finance
The combination of rising digital adoption and low penetration of financial services left a gap easily bridged by digital finance.

Breaking silos and building sustainable synergy: The importance of an integrated sustainability strategy
Integrated sustainability strategies streamline business efforts, ensure cohesiveness across various units and seize green economy opportunities.

The future of numbers: Automation’s transformative impact on accounting jobs
Automation profoundly impacts accounting jobs, presenting challenges in skill requirements and role changes, yet also offers significant opportunities for adaptability.

Beyond connectivity: DePIN & DeWi decentralise power in telecoms industry
DePIN and DeWi could bring about a more accessible, equitable, and sustainable era of connectivity by decentralising digital infrastructure.

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

FROM THE ARCHIVE

Navigating success in the digital era: The crucial role of Diversity, Equity, and Inclusion (DEI) in leadership
We have seen increased employee engagement, improved morale, and greater innovation as a result of our commitment to DEI.

Crafting compelling problem statements: Captivating VCs with your vision
Your problem statement is your reason for being, says Ine Jacobsen from Cocoon Capital. Here’s how to get better at it.

Unveiling the eco gender gap: Essential insights for a sustainable future
Eco gender gap is when solutions to tackle climate change seem to be geared only toward women. How should businesses deal with this?

Embracing AI’s promise: Navigating the future of marketing
In an era where AI is reshaping the marketing industry, we explore how marketers, particularly in Singapore, can unlock AI’s potential.

Cultivating loyalty in live commerce: A lesson in progressive ownership
The best way to target niches within a crowded e-commerce landscape: theme-based live streaming. Uncover the potential of Mela’s progressive ownership model to cultivate user loyalty.

The hidden cost of bad hiring decisions and how to avoid them
The Harvard Business Review points out that as much as 80 per cent of employee turnover is due to bad hiring decisions.

The unseen link: How cybersecurity and sustainability converge on Earth Day
Strong cybersecurity practices not only protect data but also contribute to a sustainable digital future, safeguarding our planet.

The climate change and gender equality connection: How to support underfunded women-owned business
While there is a distinct relationship between gender inequality and climate change, investment mandates rarely combine both of these lenses.

ECHELON X

8 AI startups to showcase cutting-edge solutions at Echelon X
Get to know Pixcap, Finbots, azgo, Staple, DevRev, Automa8e, Inspius, and Locofy as they champion AI at the upcoming Echelon X.

These 14 fintech innovators are shaping the global financial landscape
Despite the funding downturn, the resilience of early-stage investments indicates sustained interest within the fintech sector.

These 5 companies showcase the power of martech in driving efficient, personalised marketing strategies
One critical advantage of martech is its ability to provide valuable insights into customer behaviour and preferences.

Echelon X: 10 Pavilion exhibitors shaping the future of innovation
Check out the organisations bringing cutting-edge and innovative brands from across Southeast Asia to Echelon X.

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The post Ecosystem Roundup: ByteDance in court against law banning TikTok | S’pore surpasses US in AI investment | Amazon to train 15K individuals in AI skills in SG appeared first on e27.

Venture capital continues to flow into Southeast Asia, with startups securing significant funding across diverse sectors.

From AI-powered customer support platforms like Brainfish to innovative agritech solutions like Rize, these investments reflect the growing interest in tech-driven innovation.

Companies like Runchise are revolutionising restaurant management, while NSG BioLabs provide essential infrastructure for biotech startups. International job placement platforms like Gapai are also attracting attention.

With renewable energy startups like MetroElectro gaining traction, the funding landscape showcases the region’s potential for innovation and growth.

Let’s delve into the latest funding rounds and explore the dynamic startup ecosystem in the Asia-Pacific.

Brainfish (Singapore)

Brainfish is an AI-powered self-service customer support platform for businesses. It is an AI product expert that helps customers understand a product and helps businesses understand their customers. The Brainfish search function combines a company’s knowledge documents and contextual understanding of the user to deliver instant, real-time answers that are personalised to the specific customer scenario.

Capital raised: US$2.5 million
Round: Seed
Investors: Peak XV’s Surge, Macdoch Ventures, Black Sheep Capital, Justus Hammer (CEO MadPaws), angels.

Runchise (Indonesia)

Runchise is a restaurant management and culinary franchise startup. It is designed based on a comprehensive understanding of the business process and restaurant operation, creating a user-centric platform with an end-to-end ecosystem. With the online or cloud-based platform, Runchise ensures that all the information from the restaurant outlets is connected transparently, accurately, and consistently into one platform. The startup was founded in 2022 by Winoto and Ivana Widjaja (COO).

Capital raised: US$1 million
Round: Not specified
Investors: East Ventures, Genesia Ventures.

NSG BioLabs (Singapore)

NSG BioLabs is a provider of biotech co-working laboratories and office spaces in Singapore.
Started in 2019, NSG BioLabs develops solutions in the health, biomedical, agrifood, and industrial biotechnology sectors, working in precision medicine, nucleic acids, AI-enabled drug discovery, and synthetic biology. The co-working space firm provides biotech startups and multinational companies private and shared laboratory spaces, offices, equipment, privileged access to service providers and suppliers, and community engagement.

NSG BioLabs currently houses over 40 innovative companies in its co-working biotech laboratory in Singapore. The residents include several multi-billion-dollar multinationals and promising startups that have achieved key milestones.

Capital raised: US$14.5 million
Round: Not specified
Investors: Celadon Partners, ClavystBio.

Elevarm (Indonesia)

Elevarm is an integrated farming productivity platform. Launched in 2022, the Elevarm platform of interconnected horticultural services and products empowers farmers with affordable quality inputs for higher farming productivity, broader market reach, and safe and accessible financing. With a growing base of over 13,000 agricultural partners and 5,000 active farmers as customers, Elevarm claims to have grown its 2023 revenue up 7x from the previous year.

Capital raised: US$2.6 million
Round: Seed
Investors: Insignia Ventures Partners, 500 Global, eFishery founder and CEO Gibran Huzaifa.

Gapai (Indonesia)

Gapai provides international job placement services for overseas Indonesian workers. The platform connects prospective employees with suitable employers for fast and safe cross-border job placements. The company operates by screening candidates, conducting interviews, and providing upskilling opportunities for Indonesian workers to build a network of ready-to-work talents that can meet international labour demands.

Capital raised: US$1 million
Round: Seed
Investors: Wavemaker Partners and Antler.

MetroElectro (Australia)

MetroElectro is a climate tech startup in Australia. Founded by veteran digital business entrepreneur Lloyd Heinrich, MetroElectro is a renewable energy company focused on unlocking the potential of commercial and industrial (C&I) rooftops. The startup, built from a venture-studio model, has developed its solution by collaborating with industry experts, investors, and businesses in the C&I sector.

MetroElectro’s solution aims to transform overlooked swathes of rooftops in industrial parks, turning these difficult-to-address assets into efficient energy generation resources. The approach simplifies the complexities, eliminates onerous capital requirements on owners and their tenants, and mitigates risks associated with distributed solar power on commercial rooftops.

Capital raised: US$690,000
Round: pre-Seed
Investor: Wavemaker Impact.

Rize (Singapore)

Rize is an agritech platform aiming to make sustainable rice cultivation viable through innovative and data-driven practices. Rize is building a platform to identify and implement effective strategies to reduce greenhouse gas (GHG) emissions in rice cultivation and the right economic incentives across the value chain to drive the adoption of sustainable cultivation techniques.

Its technology stack captures vital agricultural data essential for implementing sustainable farming practices, making rice farmers more climate resilient, increasing their crop yields, lowering costs, and facilitating efficient access to finance. Rize aims to eliminate 100 metric tonnes of carbon emissions while improving farmer livelihoods.

Capital raised: US$14 million
Round: Series A
Investors: Breakthrough Energy Ventures, GenZero, Temasek, Wavemaker Impact.

The post Funding frenzy in SEA: From AI chatbots to sustainable rice farming appeared first on e27.

We are 4 days away from Echelon X! Visit Echelon X to learn more about the program. Get your tickets here!

Universities and academe have set aside multi-million dollar budgets to nurture innovation in young minds. Working with industry needs, top educational institutions have developed integrated, multidisciplinary programmes to enhance education and research offerings and prepare their graduates for future economic and national growth priorities.

Initiatives include research collaborations to develop state-of-the-art technologies and capabilities to support industry transformation, in-depth faculty-staff learning and training exchanges, co-development of specialised, skills-based courses, access to advanced facilities and equipment for teaching, education, and research, and enhanced internship and mentorship programmes focusing on job placements, innovation, and entrepreneurship.

With Singapore at the forefront of innovation globally, keeping up with the growing innovation demands of the regional landscape requires a dedicated university that can adapt to changes and nurture technically grounded leaders and innovators to serve societal needs.

Trailblazing in design and technology

The Singapore University of Technology and Design (SUTD) was one of the first universities in the world to incorporate the art and science of design and technology into a holistic, interdisciplinary education and research experience that culminates in real-world design innovations.

In line with its vision of “Trailblazing a Better World by Design”, SUTD’s mission is to redefine design, education, and research by drawing on multiple disciplines to impact society positively. Its academic programmes aim to nurture technically grounded leaders who embrace risks and continuously innovate for a better tomorrow.

Also read: SanchiConnect: Fostering sustainability in innovation programs

SUTD is one of the most innovative universities in the world. Significantly, almost a third of SUTD faculty members made it to the list of the top 2% of scientists worldwide, according to the database by Stanford University and Elsevier BV, in September 2022.

The tech industry’s focus includes groundbreaking solutions in data science and artificial intelligence (AI), healthcare, smart cities, sustainability, and aviation. Their courses equip graduates with industry insights and perspectives that support growth in these sectors. 

Fostering a vibrant ecosystem that nurtures entrepreneurial talent

Besides knowledge transfer, the SUTD ecosystem provides resources that support its students in their entrepreneurial journeys. Last year, SUTD launched the Baby Shark Fund to support student-led innovation at every level. In addition to looking for collaborations and partnerships for their startups, SUTD is also looking for key players within the ecosystem to support these student-led innovations in terms of mentorship, validation, funding, or even providing problem statements so that students can work on the solutions. 

That is why SUTD’s participation in  Echelon X is timely as it looks to increase awareness of its startup ecosystem. Said Ms Celestine Khoo, Senior Director of SUTD’s Office of Venture, Innovation and Enterprise (VIE): “Echelon X provides a great opportunity for SUTD to showcase the solutions developed by our SUTD-affiliated teams, most of which are focused on software and AI.

Also read: Echelon X: 10 Pavilion exhibitors shaping the future of innovation

“Through this, SUTD hopes to meet industry partners such as corporates, venture capital, and other key players in the ecosystem, and even establish new partnerships to support our students in their entrepreneurial journey.”

Startups and ecosystem players can visit the SUTD booth to learn about the university’s involvement in the ecosystem and chat with the team from the Office of VIE. This is an excellent opportunity to explore synergies and forge new partnerships that support students in their entrepreneurial journeys, empowering them to become the disruptors of tomorrow’s world.

Get to know SUTD at Echelon X!

SUTD is one of the many exciting industry leaders from across the Southeast Asian region who will be joining us for Echelon X. Joining them are other vital leaders, visionary entrepreneurs, and groundbreaking startups from all corners of the area who will be gathering together for two packed days. Echelon X will feature dedicated content stages, exhibitions, panel discussions, and more — all to support and empower the tech startup ecosystem with actionable insights through a series of knowledge-sharing activities.

Also read: NTT Group to expand business in Southeast Asia

Whether you’re eager to expand your knowledge, network with key players from the tech startup scene, or showcase your innovative ideas, Echelon X offers an unparalleled experience. Join us as a participant or an official partner by securing your spot now on our official page. Together, let’s embark on a journey to shape the future and create a lasting impact.

Join us at Echelon 2024, where innovation knows no limits, and the possibilities are endless!

The post Nurturing real-world design innovation in Singapore appeared first on e27.

We are 6 days away from Echelon X! Visit Echelon X to learn more about the program. Get your tickets here!

Echelon X is a dynamic platform that fosters collaboration among startups, investors, corporations, SMEs, governmental bodies, and other vital players in the ecosystem. It provides valuable resources and insights for all stakeholders to cultivate synergy and drive innovation. This annual event, attracting esteemed brands and influential thought leaders, delivers unparalleled opportunities for attendees to gain market intelligence, devise growth strategies, access a digital marketplace, explore market entry tactics, elevate their brands, and engage in networking and collaborative ventures among the region’s most promising innovators.

Also read: NTT Group to expand business in Southeast Asia

Scheduled for May 15-16, 2024, at Singapore EXPO Hall 2, Echelon X is dedicated to fortifying the resilience of the tech ecosystem. By nurturing deeper collaboration, disseminating cutting-edge knowledge, and fueling collective innovation, this edition is poised to ignite transformative progress.

Pavilion exhibitors at Echelon X

A highlight of Echelon X is the Exhibitors feature, showcasing the most innovative products and services from today’s most exciting startups across the region. Participants will have the opportunity to explore groundbreaking solutions, forge strategic partnerships, and chart the course for future success in the dynamic landscape of technology and entrepreneurship.

With that, here are the 10 organisations who will be joining Echelon X as Pavilion exhibitors:

1. Remote is the global leader in building, managing, and supporting globally distributed workforces with its innovative Global HR Platform, empowering companies and individuals to thrive in the global economy.
2. Prudence Foundation is Prudential Asia’s community investment arm dedicated to sustainable impact, focusing on Children, Education, and Disaster Preparedness in collaboration with NGOs and governments for lasting change.
3. The Singapore Centre for Social Enterprise, raiSE is a sector developer, supporting social enterprises through advisory services, training, financing, and networking to foster sustainability, share best practices, and promote awareness.
4. Tech JDI has been a Venture Catalyst since 2016, propelling innovation by empowering companies with strategic resources with a focus on disruptive tech and impactful global growth.
5. Sarawak Digital Economy Corporation (SDEC) is a government-owned Company, entrusted to lead the implementation of Sarawak’s Digital Economy initiatives.
6. Headquartered in Silicon Valley, Plug and Play is an innovation platform and investor backing over 1,000 startups globally, with offices in 30+ locations, including Singapore, Jakarta, and Bangkok.
7. The National Innovation Agency (NIA) drives Thailand’s innovation system through collaboration across academia, technology, industry, finance, and investment, with a focus on knowledge management to enhance economic competitiveness and quality of life.
8. Singapore University of Technology and Design (SUTD) was established to advance knowledge and nurture technically grounded leaders and innovators to serve societal needs, through a focus on design and multi-disciplinary curriculum and research.
9. The Ministry of Communication and Information Technology (MCIT) of Indonesia oversees telecommunications, broadcasting, IT, and public information. It strives to improve the nation’s future and develop a top-tier communications and IT sector.
10. SanchiConnect is India’s premier tech-focused community for deep tech startups. With its proprietary software platform, available for others as a white-labeled SaaS, SanchiConnect amplifies stakeholder engagement and streamlines program management for startup incubators and accelerators.

Get to know these organisations and more at Echelon X!

Meet some of the most exciting startups from across the Southeast Asian region at Echelon X. Joining them are industry leaders, visionary entrepreneurs, and groundbreaking startups from all corners of the region who will be gathering together for two packed days. Echelon X will feature dedicated content stages, exhibitions, panel discussions, and more — all to support and empower the tech startup ecosystem with actionable insights through a series of knowledge-sharing activities.

Also read: Transforming IT operational efficiency for businesses globally

Whether you’re eager to expand your knowledge, network with key players from the tech startup scene, or showcase your innovative ideas, Echelon X offers an unparalleled experience. Join us as a participant or an official partner by securing your spot now on our official page. Together, let’s embark on a journey to shape the future and create a lasting impact.

Join us at Echelon 2024, where innovation knows no limits, and the possibilities are endless!

The post Echelon X: 10 Pavilion exhibitors shaping the future of innovation appeared first on e27.

SMEs and scaling startups grapple with fragmented processes when tackling growth challenges, often wasting valuable time in disjointed searches for knowledge and experienced professionals. While organisations resort to multiple platforms such as LinkedIn, AI tools, and talent agencies, the process remains inefficient and uncoordinated.

“Many professionals on LinkedIn with a high following also position themselves as ‘experts’ but are more content creators or influencers who have not done the work or operations in a company and do not have the skillset or execution ability to do the work needed by the company. This is a wild goose chase for companies trying to find skilled and experienced professionals,” explains Samir Khadepaun, Founder of Wizly, in an email to e27.

In response, Wizly emerges as a comprehensive solution, centralising resources for companies seeking to build, grow, and scale at any stage. By empowering knowledge owners to securely share and monetise their expertise through various avenues such as recurring fees, paid advisory, and project-based engagements, Wizly offers a streamlined approach to addressing growth challenges.

Wizly aims to transform how companies scale and how domain leaders earn, providing a revolutionary knowledge monetisation platform. Its exclusive community of vetted domain and fractional leaders, comprising former senior executives from renowned companies such as Google, Meta, and Netflix, reinforces its position as a trusted hub for expertise exchange and professional growth.

“We streamline the process for companies finding solutions through our platform as they get to work in a structured, productised, and verified manner. We let them source and interact with vetted experts and knowledge on the platform,” Khadepaun says.

Also Read: Long-term impacts of the Silicon Valley Bank collapse loom: experts

“They can see our database with the detailed digital bios of the experts, case studies, and their rates and can access individuals who are the best in their fields at an affordable price, based on the deliverables they need vs large retainer fees and minimum commitment times. Experts also state their daily rates for fractional work and their availability on their Calendars, and companies can start engaging with them for smaller projects before doing more, making it less risky and giving them the ability to ‘try’.”

Some examples of how companies can use the Wizly platform are growth marketing, to name a few. According to Wizly, a Series B fintech company needed a fractional CMO to increase its leads and customer base through organic and paid growth marketing. After consulting experts at the Wizly platform, they experienced a 30 per cent increase in new customers.

“Every content or knowledge asset on Wizly is monetisable for the knowledge owner. From a simple TikTok-style audio-video Q&A where users ask experts questions to get a feel for their knowledge to advisory calls, curated webinars, projects, and fractional work, experts earn through the knowledge they share through various channels on the platform as well as the work they execute on the platform,” says founder Puja Bharwani.

“They can create knowledge directly on the platform through our tools and earn recurring fees from people who download their work or listen to their content. The fees are integrated into the platform and their profile through all their activities.”

The platform has a global community of over 700 rigorously selected fractional leaders and domain experts from 20 countries to ensure top qualifications and experience. These experts apply by submitting resumes and undergoing referral checks.

Also Read: Are you a human resource?

The expert community includes prominent domain leaders such as Arvinder Gujral (ex-MD, Twitter), Diana Stepner (ex-head of Product, Chan Zuckerberg Initiative), Aki Taha (ex-head of Talent, Netflix, Google, Uber), Deepak Kasthwal (ex-CFO, OLA), and Rob Bier (ex-partner, Monitor Group).

Empowering companies in their growth journey

Wizly has garnered a clientele list of renowned companies such as Blackpanda, MoneyHero Group, Upmesh, Rewardz, Tookitaki, and BondbloX. These companies leverage Wizly’s platform to address various growth challenges and scale their operations effectively.

Backed by Antler and prominent angel investors such as Gokul Rajaram, Arjun Dugal, and Turochas T Fuad, Wizly has solidified its position as a trusted resource hub for tech-enabled companies in the growth stage, particularly within the B2B SaaS, D2C, and fintech sectors.

The company was founded by Samir Khadepaun, Kapil Shah, and Puja Bharwani through the Antler programme.

At Echelon X, Bharwani will moderate a roundtable session on “Demonstrating Value and ROI: Positioning HR Tech Solutions as Strategic Enablers for HR Success” at the Singapore Expo on May 15, 2.15 PM. This session will explore strategies for HR tech companies to position their solutions as strategic enablers for HR success, emphasising key benefits such as automation, data analytics, compliance management, and employee experience enhancement.

It will also examine case studies and success stories of HR tech companies that effectively demonstrate value and ROI for HR leaders, driving adoption, retention, and advocacy among companies of various sizes and industries.

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Image Credit: Wizly

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Singapore-based corporate venture studio xcube recently launched corporate venture portfolio equities (CVPE), an equity-based ecosystem of tech startups.

CVPE features a combination of venture-building initiatives, external early-stage startups and corporate partnerships. It introduces a holistic approach by investing in an interconnected ecosystem of tech startups.

How does CVPE work, how is it different from traditional venture-building models, and what are its objectives?

xcube founder and director Sebastien P discusses CVPE, its modus operandi, and its objectives.

What inspired xcube to launch the CVPE?

The CVPE initiative was driven by a few key insights:

Adapting to market evolution: In today’s corporate landscape, competition is no longer against a single business but rather entire business ecosystems. Having a competitive edge and strong economic moat nowadays means building mutually beneficial partnerships rather than relying on isolated endeavours.

Sustainable business model: Startups from venture studios have a higher scale potential; research shows that one in eight corporate ventures grows into a large-scale business while only one in 500 for typical startups.

Also Read: SDTA revamps venture building programme for deep-tech startups in Singapore

Addressing industry challenges: The current corporate venturing landscape is often characterised by a low level of symbiosis due to organisational resistance, lack of top management support and rigid control mechanisms.

How does CVPE differ from traditional methods of venture capital investment?

CVPE uniquely combines the benefits typically associated with venture capital (VC) investments and direct investments in startups. Investing in an ecosystem company allows investors to gain access to a portfolio of startups working together to address significant market needs.

Diversification: Similar to a VC fund, CVPE provides a diversification advantage. The collective strength of the ecosystem offers built-in resilience, enables to which helps safeguard investments against startup setbacks.

Enhanced equity value: Investing through an ecosystem company allows investors to access significant additional equity value since the company acts as the founder and co-founder for the startups in the ecosystem.

Could you elaborate on how CVPE fosters synergistic operations among invested startups?

The ecosystem company foster synergies thanks to its dedicated venture team whose role is to build:

Cost synergies: offering support/resources and functions to the startups such as HR, finance, marketing, etc.

Go-to-market synergies: combining startup products and entering markets that were previously inaccessible to them.

Innovation synergies: leading co-innovation or combining the capabilities of various startups to create new products.

Ecosystem synergies: enhancing the overall productivity, efficiency, and resilience of the ecosystem as a whole, often resulting in outcomes that are greater than the sum of the individual contributions.

In other words, being part of the ecosystem offers a competitive advantage to each startup.

What market needs does CVPE aim to address through its ecosystem of tech startups?

xcube is industry agnostic. We do not have specific verticals but two transversals: Web3 and AI technologies. These enable us to develop disruptive solutions for different industries. We currently have ecosystems focusing on finance, HR, and education.

How does xcube plan to engage family offices and VC firms with the CVPE model?

We have a team dedicated to raising funds for these ecosystem companies, as well as creating partnerships with financial advisors and private banks.

Can you provide examples of the types of startups that will be part of the CVPE initiative?

The startups that we create and engage with are tech companies (Web3/AI-driven) at the seed/pre-series A stages. Currently, we are focused on three main ecosystems: fintech, skillstech, and wealthtech.

Also Read: An unfair advantage: How government-linked ventures are giving startups a run for their money

The startups within each ecosystem cover different aspects within the same field. For instance, in our fintech ecosystem, the startups involved include investment platforms, trading technologies, Real-world asset (RWA) financing, know-your-customer (KYC) solutions and more.

What criteria does xcube use to select startups for inclusion in the CVPE ecosystems?

The interview delves into xcube’s CVPE initiative, blending VC and direct startup investments. It highlights the model’s benefits, risk management strategies, fundraising plans, and startup selection criteria.The criteria are product complementarities, vision compatibility, strength and commitment of the entrepreneurial teams, and early-stage startups (seed/pre-series A).

How does xcube plan to ensure diversified risk management within the CVPE model?

In our CVPE model, we work with various startups, each focusing on a specific market segment. This variety helps spread out our risks because the startups are not all dependent on the same market conditions. If one of the startups fails, xcube has the first right to refuse to buy the assets to ensure the continuity of the products and the ecosystem.

Additionally, at the ecosystem level, by pioneering into several countries, our CVPE model naturally diversifies business risks, reducing the impact of having one single go-to-market strategy.

What are the expected benefits for startups participating in the CVPE initiative?

The startup’s advantage is to access hands-on expertise and shared capabilities, reducing costs. They can indirectly enter markets they do not target individually, enjoying additional traction and revenues through profit sharing.

Additionally, they gain peer support from the other entrepreneurial teams to solve their challenges. And finally, they can leverage xcube’s corporate psychologist to build and support their entrepreneurial teams.

Can you outline the fundraising strategy for the four distinct corporate venture ecosystems?

First, we ideate and validate each ecosystem, then present each ecosystem to the VC funds we’ve partnered with. They stress-test the ecosystem strategy and soundness, then act as a lead investor to enable to kickstart the development of the ecosystem. This initial backing also instils confidence in other potential investors to participate.

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Rize, an agritech platform aiming to make sustainable rice cultivation viable through innovative and data-driven practices, has closed its USD$14 million Series A funding round.

Breakthrough Energy Ventures, GenZero, Temasek, and Wavemaker Impact co-led the round.

This round will enhance Rize’s technology stack, including its measuring, reporting and verification (MRV) technology.

Also Read: Wavemaker Impact backs Australian climate-tech startup MetroElectro

The capital will also enable it to expand its operations deeper into Indonesia and Vietnam and help strengthen its team of agronomists to over 100 by the end of 2024, potentially reaching over 20,000 farmers. The firm also plans to expand into other rice-producing South and Southeast Asian countries in 2025.

Rize was formed through a joint venture between Temasek, Wavemaker Impact, Breakthrough Energy Ventures and GenZero to decarbonise rice cultivation in Asia. It is building a platform to identify and implement effective strategies to reduce greenhouse gas (GHG) emissions in rice cultivation and the right economic incentives across the value chain to drive the adoption of sustainable cultivation techniques.

Its technology stack captures vital agricultural data essential for implementing sustainable farming practices, making rice farmers more climate resilient, increasing their crop yields, lowering costs, and facilitating efficient access to finance. Rize aims to eliminate 100 metric tonnes of carbon emissions while improving farmer livelihoods.

“We are confronted with the challenges of addressing the high levels of methane emissions and the water-intensive practices prevalent in rice farming, which accounts for 10 per cent of global methane emissions, a figure that is set to rise if unchecked,” said Dhruv Sawhney, CEO of Rize.

“Another hurdle is the lack of precise data, particularly among the numerous smallholder farms across South and Southeast Asia, as well as the increasingly high cost of farming due to increased input prices and a changing climate. Our technology stack seeks to tackle these challenges. By doing so, we are not just aiming to cut down 100 million tonnes of carbon emissions, we are also enhancing the economic stability of farmers, ensuring that improved farmer livelihoods and reduced emissions go hand-in-hand,” he added.

Also Read: Wavemaker Impact debut fund makes final close at US$60M

Rize aims to improve over 7,000 hectares of rice farming this coming season. These initiatives are projected to lower emissions by 50 per cent, reduce water usage by 20 per cent, and increase farmer incomes by up to 30 per cent, making sustainable rice farming a viable and attractive option.

“Our platform, and the data it captures, is pivotal in modernising rice farming, leveraging technology to enhance yield and efficiency sustainably,” remarked Sawhney. “Given that producing a single bowl of rice requires over 200 litres of fresh water, and considering that the entire rice industry accounts for more than a third of the world’s irrigation water, the urgency to adopt sustainable methods is clear.”

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With Singapore aiming to achieve net-zero emissions by 2050, everyone, including corporations, has a part to play in reducing their carbon emissions. Earlier this year, the nation announced that large non-listed and listed firms will have to report climate-related information from 2025, with scope 1, 2 and 3 emissions soon to follow.

It is thus imperative that companies, regardless of size, find a way to not only incorporate environmental sustainability reporting into their business operations but also actively find ways to reduce their emissions.

There remains a pressing need for businesses to align their business operations with sustainability targets. Despite that, the multitude of portfolios and business units present in each company proves it difficult to integrate all sustainability efforts into a seamless and cohesive solution.

This often results in fragmented and siloed sustainability strategies, isolated within various business units rather than being integrated across the entire organisation, which affects the overall effectiveness and impact of such efforts.

Sustainability silos: More harm than good?

Although working in silos can be efficient at times, it often results in overlooking combined efforts to achieve sustainability and business goals. Exploratory strategies in sustainability require oversight across all business units to ensure the net meaningful impact is maximised. Simply put, we must ensure that a positive impact in one area does not cause a negative impact in another.

Also Read: Unveiling the eco gender gap: Essential insights for a sustainable future

To better explain this, take tree planting, for example. While planting trees is a great way to restore nature back to our city, the net impact will be minimised or even negated if substantial amounts of paper are still used in the company’s day-to-day operations. There needs to be a bird’s eye view across such activities for a better, more comprehensive understanding of how our intended sustainability efforts can actually result in a trackable positive impact.

Economic and environmental gains through integrated sustainability strategies

Research has shown that a unified sustainability strategy not only drives progress but also enhances an organisation’s credibility and provides long-term guidance for its business model, thus securing future profitability. Weaving sustainability into the fabric ethos of a business, where each business unit plays a unique role in advancing our sustainability efforts, allows us to form a network of sustainable collectives that deliver tangible value, including financial.

An example of how that is exemplified at LHN Group is our Space Optimisation business, where we revitalise old, unused spaces to their fullest potential. Through unique design techniques honed over three decades of experience in the industry, we enhance buildings’ interior facilities and usability without demolition, mitigating noise and air pollution. These are then transformed into productive environments such as vibrant co-living spaces or storage solutions, which are as efficient as new buildings.

Furthermore, each property we manage is retrofitted with solar panel installations and electric vehicle (EV) charging facilities from our energy business, LHN Energy, facilitating the use of renewable energy to power our buildings and offering EV charging facilities to our tenants.

This forward-looking approach, where each business unit complements one another, not only futureproofs our operations but also empowers us to diligently monitor and diminish our carbon footprint at every link in the chain.

Tackling diverse portfolios

For larger enterprises like LHN Group, determining where to begin can be daunting, but there are solutions to create greater synergy across various business units.

Starting with an Environmental, Social, and Governance (ESG) framework that aligns with industry regulatory mandates, national targets, and Sustainability Development Goals (SDGs) can allow us to assess and understand the various components in our portfolios to apply sustainability initiatives.

Establishing a dedicated sustainability committee enables the creation of action plans, goals, and targets to integrate these initiatives. LHN’s Sustainability Innovations Committee consists of Heads of Department and members of the Board of Directors, who regularly explore new technology, exchange ideas, and identify areas in daily operations where sustainability strategies can be effectively incorporated.

Also Read: Can a small business owner be sustainable in a sustainable manner?

This approach provides us with specialised expertise and focus and, more crucially, promotes collaboration amongst the various business units. Through this, companies will be able to ensure ESG efforts are implemented effectively and contribute to broader local, regional, and even global sustainability objectives.

Getting everyone onboard sustainability synergies

While climate-related activities are crucial in working towards a greener future, a key aspect that is often neglected is the part that employees play. There is a need to highlight the importance of cultivating a culture of environmental sustainability across all levels; beyond direction from top management, even on-ground staff must be informed and educated, getting them excited about the topic.

To foster widespread understanding and adoption of sustainability, company’s ESG strategy should be communicated in an engaging and easily understandable manner for all employees. Besides high-level corporate messages, clear instructions for integrating sustainable practices into daily operations and personal lives should be provided. This approach allows employees to gradually acquaint themselves with the concept without feeling overwhelmed by jargon.

Moreover, providing opportunities for employees to engage in practical environmental activities, such as tree planting, upcycling workshops, or learning about new sustainability technologies, is an effective way to expand their knowledge and cultivate awareness in this field.

In addition, it’s important for companies to engage the supply chain in the ESG communication to ensure a thorough alignment on sustainability vision. This process goes beyond open discussions and sharing of best practices; it entails setting expectations, benchmarks, and targets for ESG compliance across the supply chain.

Sustainable success through integrated environmental stewardship

Corporate Social Responsibility (CSR) and sustainability can no longer be considered an afterthought for businesses, but rather an essential consideration in day-to-day operations. Companies must develop a holistic and actionable approach across all teams, be it supply chains, procurement, people and more.

Implementing an integrated sustainability strategy allows businesses to streamline sustainability efforts, ensure cohesiveness across various business units and, more importantly, seize new opportunities in the green economy fuelled by consumer and investor demand. Only then can we create and maximise proper, trackable positive impact in the world that we live in today, paving the way forward for a more sustainable tomorrow.

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Indonesia’s integrated farming productivity platform Elevarm has secured US$2.6 million in a seed funding round led by Singapore’s Insignia Ventures Partners.

500 Global and eFishery founder and CEO Gibran Huzaifa also participated.

The strategic raise, completed in two phases, will be used to scale Elevarm’s seedlings and organic fertiliser production capacity threefold to meet growing demand.

Also Read: Unlocking agritech’s potential: Can Southeast Asia rise to the challenge?

The company will also make significant investments in NextBio, its in-house R&D engine, to develop new products to improve biodiversity, soil health, and ecosystem resilience. It aims to introduce 15 new organic products this year, including biostimulants, fertilisers, and plant and bio-pesticides solutions.

The fresh capital will additionally be channelled towards a new factory equipped with advanced manufacturing technology to expand its capacity for fertiliser production and more.

Launched in 2022, the Elevarm platform of interconnected horticultural services and products empowers farmers with affordable quality inputs for higher farming productivity, broader market reach, and safe and accessible financing.

With a growing base of over 13,000 agricultural partners and 5,000 active farmers as customers, Elevarm claims to have grown its 2023 revenue up 7x from the previous year.

“We see incredible value in uplifting our local smallholder farmers, the backbone that makes up half of Indonesia’s entire farming industry. Our mission is to democratise access to farming essentials that not only boost crop yields for them, but contribute to the circular economy in the long run, through our proprietary research, technology, and solutions,” said Bayu Syerli Rachmat, co-founder and CEO of Elevarm.

Also Read: New year, new funding strategies: Powering up sustainability tech startups

Elevarm plans to collaborate with new research institutions and strategic partners to engineer affordable, deeptech horticulture solutions tailored to uniquely local challenges at different stages of the farming journey. On top of servicing over 400 hectares of farmland through its current farming partners, Elevarm’s B2B marketplace for farmers and wholesalers facilitates monthly crop sales of up to 1,000 tonnes.

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X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Enjoy 2 days of building connections with potential investors, partners, and customers, exploring innovation, and sharing insights with 8,000+ key decision-makers of Asia’s tech ecosystem. Get your tickets here.

Want more from your Echelon experience? Be an Echelon X sponsor or exhibitor. Send enquiry here.

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We are 7 days away from Echelon X! Visit Echelon X to learn more about the program. Get your tickets here!

Implementing automation and technology to improve the efficiency of each business function is paramount in today’s digital world. Numerous SaaS applications have entered the market as a result. However, companies spend an average of $1,040 on SaaS apps per employee, and 50% of licenses are not entirely maximised according to the Gartner 2022 Market Guide. 

As organisations grow, IT teams need more support in tracking, securing, and optimising their technology stack. Gone are the days of managing SaaS subscriptions through spreadsheets and databases. Centralised IT management software becomes crucial to oversee the entire SaaS landscape, ensuring centralised control and visibility.

Access and data security are important to ensuring internal stakeholders have appropriate access permissions, thus securing customer and company-owned information. “Shadow IT” refers to the unauthorised use of IT hardware or software within an organisation, often involving cloud services, software, or hardware, without the knowledge of the IT or security department. A SaaS management platform can illuminate the use of shadow IT, helping businesses secure their tech stack, optimise their investments, and enable informed decision-making.

Also read: 6 SaaS startups to showcase cutting-edge solutions at Echelon X

Another benefit of a central SaaS Management Platform is gaining end-user utilisation insights. Many subscriptions are purchased, but without proper oversight into how well they are being used, organisations begin overspending on licences and apps they are no longer using. A dashboard would also help teams proactively negotiate contract renewals, reeling in licence leakage and regaining control over the IT budget.

By integrating with hundreds of applications and external data sources, this Tokyo-founded company provides IT with a single platform for tracking all approved applications, streamlining employee onboarding, monitoring shadow IT, and managing SaaS sprawl. With Josys’s power, IT teams can eliminate manual tasks, optimise their licence footprint, and reduce risk.

A holistic approach to equipping IT with 360-degree control over SaaS inventory

Josys is the SaaS and Device Management Platform that simplifies how IT works by making it easier to visualise user access, analyse utilisation trends, and automate provisioning processes. 

By leveraging APIs and integrating with hundreds of applications, Josys empowers IT with a single portal for assigning licences and devices to employees, monitoring user access, and tracking adoption.  IT teams can save time by eliminating dependencies on multiple spreadsheets and disparate tools,  easily optimise IT costs, and securely govern access to company data with Josys.  

The following features and benefits are available for Josys users:

• Users can expose blind spots by cataloguing apps and devices through a real-time dashboard that integrates hundreds of apps and data sources. Managers can easily create custom views and quick filters for fast navigation and automatically identify shadow apps and users on their network.
• IT can prevent licence leakage by analysing usage and controlling costs. Management can grant role-based permissions, identify utilisation trends, and track device refresh cycles to secure company assets and optimise IT spending. Business owners can also make more informed decisions by comparing licence consumption trends to minimise redundancies. They can view summary reports of departmental IT expenses and immediately spot access violations and revoke permissions.
• Lastly, the dashboard can eliminate manual tasks and implement workflow automation to expedite provisioning during employee onboarding, offboarding, and everything in between. Josys allows managers to efficiently onboard employees with bulk licence provisioning, proactively schedule employee access for a seamless Day 1, and systematically de-provision access with a single click.

Also read: 8 AI startups to showcase cutting-edge solutions at Echelon X

Achieving rapid success, Josys secured $32M in Series A funding in September 2022, followed by an impressive $93M in Series B funding a year later to take its solution from Japan to the global market. Now boasting over 400 clients and 150 employees worldwide, Josys drives efficiency, governance, and cost optimisation for IT teams and organisations worldwide.

Empowering Southeast Asian companies with effective SaaS app management

With its proven track record, Josys is now interested in catapulting its growth and empowering entrepreneurs as the upcoming SaaS Management Platform vendor in Singapore and the rest of the ASEAN markets.

Josys has recently enrolled in IMDA’s Spark Programme, which shows the company’s commitment to expanding in Singapore and is a testament to Josys’ adherence to the highest standards of product quality, security, and financial integrity.

Also read: Beyond the Hype: How startups can scale sustainably through compelling communications strategies

At Echelon X, Josys’ team aims to connect with companies of all sizes that are increasingly relying on various SaaS applications to streamline processes, enhance productivity, and foster innovation. They believe that this shift towards cloud-based solutions marks a significant transformation in businesses’ operations, making software more accessible and collaboration more seamless.

Visit Josys’ booth at Echelon X

Josys is one of the many exciting industry leaders from across the Southeast Asian region who will join us for Echelon X. Joining them are other key leaders, visionary entrepreneurs, and groundbreaking startups from all corners of the region who will gather together for two packed days. Echelon X will feature dedicated content stages, exhibitions, panel discussions, and more — all to support and empower the tech startup ecosystem with actionable insights through a series of knowledge-sharing activities.

Whether you’re eager to expand your knowledge, network with key players from the tech startup scene, or showcase your innovative ideas, Echelon X offers an unparalleled experience. Join us as a participant or an official partner by securing your spot now on our official page. Together, let’s embark on a journey to shape the future and create a lasting impact.

Join us at Echelon 2024, where innovation knows no limits, and the possibilities are endless!

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