In April, Tracxn, the SaaS-based market intelligence platform, unveiled its latest Geo Quarterly Report focusing on the Southeast Asia (SEA) fintech scene for Q1 2024. Despite the typically vibrant nature of the region’s ecosystem, the report reveals a significant decline in funding, plummeting to US$530 million during this quarter. It also reported that amidst this challenging financial landscape, there has been a notable surge in acquisitions, with the count reaching 10 in Q1 2024, surpassing the figures of both Q4 2023 (six acquisitions) and Q1 2023 (five acquisitions).

Despite the funding downturn, the resilience of early-stage investments indicates sustained interest and potential avenues for growth within the SEA fintech sector. Moreover, the increase in acquisitions points towards a dynamic landscape ripe for strategic partnerships and consolidation. This trend underscores the adaptability and opportunity within the region’s fintech sector, despite the temporary setback in funding.

Next week, at Echelon X, the SEA fintech scene will be one of the topics that we covered. We will look at the prospect of the industry and figure out how to make them come true–despite all the challenges in the market today.

To prepare yourself for the conversation on fintech on May 15-16, we have compiled a list of notable fintech companies in SEA and beyond.

2C2P

2C2P is a worldwide payments platform aiding businesses in securely accepting payments across online, mobile, and in-store channels. Based in Singapore, the company operates throughout Southeast Asia, North Asia, Europe, and the US. It holds the position of the preferred payments platform provider for regional airlines, travel firms, and global retailers.

Also Read: Fintech Nation integrates thought leadership and community into its startup support initiatives

Wise

Wise is dedicated to creating the optimal method for transferring money worldwide. Through the Wise account, individuals and businesses gain access to over 40 currencies, enabling seamless money transfers between countries and convenient spending abroad. Notably, Wise’s technology is utilised by major corporations and banks, fostering an innovative cross-border payments network with the vision of enabling borderless money transfers for all. Whether for personal or business needs, Wise is committed to simplifying lives and reducing costs for its users. Founded by Kristo Käärmann and Taavet Hinrikus, Wise began its journey in 2011 under the name TransferWise.

Today, it stands as one of the world’s swiftest growing and profitable technology firms, publicly traded on the London Stock Exchange under the ticker, WISE. With a global user base of 16 million individuals and businesses, Wise facilitates £9 billion in cross-border transactions each month, delivering approximately GBP1.5 billion in annual savings to its customers.

Xtransfer

XTransfer is a comprehensive cross-border financial and risk management service provider, specialising in aiding SMEs in reducing the barriers and costs associated with global expansion while enhancing their global competitiveness. Headquartered in Shanghai, with branches in key foreign trade hubs such as Hong Kong and Shenzhen, as well as offices in major export destinations including the UK, US, Canada, Japan, Australia, Singapore, and the Netherlands, XTransfer has established itself as a significant player in the industry. With local payment licenses secured in Hong Kong, the UK, US, Canada, and Australia, XTransfer collaborates closely with renowned international banks and financial institutions.

Leveraging a global multi-currency settlement network and an advanced, data-driven, automated, internet-enabled, and intelligent risk management infrastructure, XTransfer offers a suite of integrated solutions including foreign trade collections, multi-currency networks, risk management services, and customer relationship management. Through technological innovation, XTransfer bridges the gap between large financial institutions and SMEs, enabling the latter to access cross-border financial services on par with multinational corporations.

Wallex

Wallex offers streamlined overseas payment and cash management solutions for businesses, simplifying the process. Beyond facilitating cross-border payments at improved rates and quicker speeds, Wallex empowers users to convert and retain balances across various currencies, enabling effective planning, management, and hedging of currency requirements, all within a single platform.

Also Read: The future of fintech innovation will be a constant dance between progress and security: AND Global

Stripe

Stripe serves as a financial infrastructure platform catering to businesses worldwide. From the most prominent enterprises to aspiring startups, millions of companies utilise Stripe to facilitate payment acceptance, boost revenue, and expedite the exploration of new business ventures. With headquarters in both San Francisco and Dublin, the company’s overarching goal is to enhance the GDP of the internet.

Revolut

Revolut has been dedicated to revolutionising the way people interact with their finances since 2015, striving to provide enhanced visibility, control, and freedom. With a suite of impressive products, the company has empowered over 40 million customers to maximise their financial potential.

As Revolut continues its rapid expansion, the key drivers of its success remain its people and culture. Recognised as a Great Place to Work, Revolut boasts a workforce of over 10,000 individuals worldwide, operating from both office spaces and remote locations, all united by a common mission. The company seeks talented individuals who are passionate about crafting exceptional products, challenging traditional notions of success, and simplifying the complexities of the modern world into elegant solutions.

Rapyd

Rapyd empowers businesses to revolutionise global commerce by providing all-encompassing tools necessary for creating seamless payment, payout, and fintech experiences worldwide. Recognising the diverse preferences of customers globally and the need for swift transactions, Rapyd facilitates businesses and consumers in receiving payments faster, alongside offering developers the flexibility to innovate and create new products. With Rapyd’s comprehensive suite of solutions, businesses can effortlessly accept and send payments to a wide array of recipients, all while enjoying faster, cheaper, and more efficient transactions.

Notably, Rapyd clients experience an average return on investment of 196 per cent and spend 70 per cent less time managing payments. Whether businesses are focused on app development, product sales, payment transfers, or multifaceted financial activities, Rapyd provides solutions that enable them to confidently excel in their endeavours, offering services such as fund transfers, integration of hundreds of payment methods globally, issuance of prepaid virtual and physical cards, simplified money management, and seamless integration of fintech through APIs.

Also Read: How fintech infra firm Decentro leverages collaborations to capture SEA market

M-DAQ

Based in Singapore, M-DAQ is a financial technology firm dedicated to empowering businesses and individuals in cross-border transactions through data-driven insights that offer clarity and certainty in foreign exchange. Established in 2010, M-DAQ operates under the premise that while resources may be finite, aspirations are boundless. The company’s overarching vision is to foster a World without Currency Borders®, enabling universal participation and prosperity in the global economy.

Airwallex

Airwallex stands as a prominent global financial platform catering to modern businesses, providing reliable solutions spanning payments, treasury, spend management, and embedded finance. Leveraging its proprietary infrastructure, Airwallex streamlines global payments and financial operations, enabling businesses of every scale to expand their horizons and seize new opportunities across borders.

Founded in Melbourne, Airwallex boasts a client base exceeding 100,000 businesses worldwide, including renowned brands such as Brex, Rippling, Navan, Qantas, SHEIN, and numerous others, attesting to its trustworthiness and efficacy in the industry.

Worldfirst

WorldFirst emerged from a commitment to foster financial inclusivity. In 2004, Jonathan Quin and Nick Robinson departed from their corporate roles in global banking to establish WorldFirst, realising their vision. Since then, the company has experienced significant growth, now operating in seven locations worldwide. With over US$200 billion transferred for more than one million customers and over one million payments sent annually, WorldFirst has become a pivotal player in the industry.

In 2019, WorldFirst became part of Ant International, a comprehensive digital payment and financial services platform catering particularly to SMEs engaged in international trade. Today, WorldFirst offers a diverse array of tools and services extending beyond global money transfer, encompassing hedging through forward contracts, local overseas currency accounts, and seamless integration with platforms like Xero and online marketplaces. Committed to facilitating business anywhere, WorldFirst continues its mission with fervour.

Also Read: AI in fintech: Boosting your revenue by utilising top 5 CEO’s choices

Adyen

Adyen (AMS: ADYEN) stands as the preferred financial technology platform for prominent companies worldwide. Offering comprehensive end-to-end payments capabilities, data-driven insights, and a suite of financial products within a unified global solution, Adyen empowers businesses to realise their goals swiftly. With a global presence through its offices, Adyen collaborates with renowned entities such as Meta, Uber, H&M, eBay, and Microsoft, facilitating their financial operations and driving their success.

Thunes

Thunes operates as a B2B entity, facilitating payments for some of the world’s fastest-growing businesses, ranging from Gig Economy behemoths like Uber and Deliveroo to Southeast Asia’s leading superapp, Grab, and global Fintech leaders such as PayPal and Remitly. With a straightforward connection, businesses and their customers gain the ability to seamlessly send and receive payments across the globe, instantly reaching every corner of the world. Thunes supports transactions in 79 currencies, facilitates payments to over 130 countries, and enables the acceptance of 300 payment methods. Headquartered in Singapore, Thunes maintains regional offices in key global cities including London, Paris, Shanghai, New York, Dubai, and Nairobi.

Brankas

Established in 2016, Brankas is committed to democratising access to modern financial services for consumers and businesses worldwide. Collaborating with multiple banks and financial institutions, Brankas aims to enhance market accessibility, enabling technology companies to develop superior financial experiences within their own products.

Recognising the prevalence of unbanked or underbanked populations, particularly in developing or emerging markets such as Indonesia and the Philippines where over 70 per cent lack adequate banking access, Brankas is dedicated to addressing this issue by providing secure and cost-effective alternatives to informal banking services. Through the development of robust solutions and IT infrastructure, Brankas endeavours to foster a more competitive and customer-centric financial services industry.

Perfios

Perfios Software Solutions stands as India’s leading SaaS-based B2B fintech software company, empowering over 1,000 financial institutions to make informed decisions in real-time. Based in Bangalore, India, Perfios specialises in a range of services including real-time credit decisioning, analytics, onboarding automation, due diligence, and monitoring. Its core data platform is adept at aggregating and analysing both structured and unstructured data, offering vertical solutions that combine consented and public data for the BFSI sector, addressing their stringent requirements for scale, performance, security, and other SLAs.

Recently, Perfios secured a significant Series D funding round of US$229 million from Kedaara Capital, with additional investment from Warburg Pincus and Bessemer Venture Partners, bringing its total funding raised to US$384 million.

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Image Credit: 123RF

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In 2003, the World Summit on the Information Society was convened under the United Nations and made a Declaration on the importance of the internet in maintaining and strengthening human rights. This was reaffirmed by several multilateral bodies and countries in their own respective declarations.

While not necessarily a human right, per se, internet access is now considered a necessity as it facilitates information exchange and interaction. The UN itself released a resolution in 2016 condemning the disruption of internet access by governments.

With the help of decentralised physical infrastructure networks (DePIN) and decentralised wireless (DeWi), connectivity is becoming more than just a service, but a universal right and a reward-generating opportunity for the average person. With the benefits of decentralisation embedded into innovative blockchain-based technologies, these networks are creating a link between the digital and real worlds in ways not possible only a few years ago.

Blockchain is increasingly becoming embedded into our everyday lives, and DePIN and DeWi are set to provide a practical solution to the challenges of internet connectivity, especially at the last mile.

Potentially revolutionising the US$1.8 trillion global telecommunications industry, this shift is not just about introducing new technologies to a traditional sector, but also about democratising access and benefitting individuals instead of the conglomerates that have ruled the telecoms space until now.

Democratising communications

Unlike technological advancements of the past, DePIN and DeWi don’t just improve efficiency – they democratise access to essential services. They are dismantling the barriers erected by the sheer scale of investment and regulatory complexities that plague the telecoms industry, helping to create a more level playing field in delivering network infrastructure.

“This shift was facilitated by the advent of blockchain technology, which powers peer-to-peer wireless networks,” says Tim Kravchunovsky, CEO of decentralised telecommunications network Chirp. “For the first time, cryptocurrencies facilitate a simple distribution of rewards across network participants, allowing individuals to challenge the status quo in the telecoms sector.”

This year, DePIN and DeWi have already seen significant growth, with a current market capitalisation of over US$30 billion. From the ongoing collaboration between Sui and Chirp that aims to leverage DePIN and DeWi technologies for enhanced connectivity, to the US$15 million raised by DePIN Peaq and the emergence of new decentralised communications projects like Karrier One, the sector is quickly booming.

These projects are particularly making an impact on the internet-of-things or IoT sector, which is expected to drive growth in the DePIN sector. “Scooters for rent or car sharing are perfect examples of how DePIN benefits the community. All of these devices need a network to communicate,” adds Kravchunovsky.

Benefitting the individual

So how exactly do these projects propose to turn the telecommunications sector on its head? Consider that the industry today is dominated by a handful of global giants, which makes it a challenge to develop and build sustainable telecom networks in emerging economies.

The telecommunications industry is characterised by high barriers to entry and limited competition. This monopolistic tendency not only stifles innovation but also leaves vast swathes of the global population in a connectivity void.

This is the very real problem that DePIN and DeWi are setting out to solve. A real-life example of this is Chirp’s Blackbird antenna – a device that allows individuals to provide wireless connectivity to their surrounding area and earn rewards for this service.

As an added benefit of providing decentralised internet access, DePIN and DeWi solutions are also an ideal solution for redundancy in communications, especially during disasters when the regular telecommunications infrastructures are usually overloaded or rendered useless.

“[E]ven if the global internet network is no longer available, it is still possible to stay connected,” writes Jonathan Deyoung of Cointelegraph and The Agenda podcast. “The solution lies in decentralised and distributed local networks known as mesh networks, which could serve as the technological backbone of a disaster-ravaged future.”

These technologies could be particularly game-changing for rural, developing areas and underserved communities where traditional telecom companies have hesitated to invest, resulting in a lack of reliable wireless connectivity in these regions.

An equitable economic model

However, while developed countries tend to enjoy ample connectivity at incredible speeds, DePIN and DeWi can also lead to benefits for individuals living in regions with well-developed telecom infrastructure.

By introducing a new incentivised economic model, these peer-to-peer wireless networks can drastically cut costs and provide earning opportunities for the owners of antennas that provide coverage. This distributes economic benefits more evenly across the network’s participants at the community level, ultimately fostering a more equitable society.

From an environmental standpoint, DePIN and DeWi also offer several benefits. In a world grappling with climate change and inequality, these innovative technologies offer the ability to deploy energy-efficient, decentralised infrastructure. By enabling peer-to-peer energy consumption, for example, DePIN can facilitate the transition to renewable energy sources, reducing the carbon footprint of digital networks.

The takeaway

The rise of DePIN and DeWi technologies heralds a sea change for the telecommunications industry. By decentralising the infrastructure that underpins our digital world, DePIN and DeWi could usher in an era of connectivity that is more accessible, equitable, and sustainable.

As we embrace these changes, we’re not just flipping an established industry; we’re redefining the very fabric of our digital society, ensuring that, in the future, connectivity is a universal right, not a privilege.

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

As the market globalises and technological competition intensifies, longstanding conglomerates have adeptly integrated into the innovation and startup scene. This shift opens avenues for collaboration, investment, and partnerships, fostering growth and diversification.

Nippon Telegraph and Telephone Corporation (NTT Group) facilitates cultural exchange and knowledge transfer between Japan’s tech hub and the burgeoning markets, as evidenced by alliances within the ASEAN landscape. This engagement fosters regional development, stimulates economic growth, and positions the conglomerate as a pivotal player in the global tech landscape.

Corporate-startup collaborations enhance the distribution of new technologies and product offerings, achieving results with fewer resources and in less time. NTT is leading the way into the digital age by focusing on innovative technologies and partnerships in Southeast Asia.

Strengthening Connections and Innovation in Southeast Asia at Echelon X

NTT Group is a leading global player in the IT and telecommunications industry. Operating in diverse domestic and international markets, it has contributed over 150 years of technological innovation to society. The core of its business is providing services that enhance people’s lives and contribute to client success. With $97 billion in revenue and more than 330,000 employees across over 80 countries and regions, serving over 190 of them, NTT Group is committed to being a long-term trusted partner and consistently contributing to society through its business operations.

As part of the expansive NTT Group, their line-up has broadened to wider industries, job roles, and demographics. Their operations span a range of sectors, including telecommunications, IT infrastructure, and digital services, among others. This wide-ranging operational scope allows them to serve a broad market base, from startups in emerging tech sectors to established enterprises in traditional industries. NTT Group is equally open to exploring collaborations across various technological domains, whether they involve cutting-edge AI and IoT solutions or foundational IT services.

Also read: Transforming IT operational efficiency for businesses globally

NTT Group is currently developing the NTT Startup Challenge, a leading platform designed to foster the startup ecosystem in Southeast Asia. Since its inception in 2016, the initiative has attracted over 3,300 startup applications and has supported 50 startups in achieving significant business breakthroughs. Through its participation in Echelon X, NTT Group is committed to engaging directly with startups and establishing key partnerships.

Yasuhiro Nishino, Manager of the Global Business Department at NTT, added, “This event is an ideal place for us to connect with pioneering startups, share our advancements, and promote collaborative growth within the tech ecosystem.”

Enhancing ASEAN presence in Echelon X

Together with other industry leaders, Yasunori Kinebuchi, Director of the Global Business Department at NTT, will participate in one of the panel discussions about AI in Southeast Asia. This session offers a thought-provoking discussion on the ethical and societal implications of artificial intelligence (AI) adoption in the region. 

Kinebuchi, Nishino and the rest of the team look forward to connecting with other industry tech innovators and thought leaders. NTT Group is excited to gain insights into emerging trends, explore new technologies, and discuss challenges and solutions, enriching their understanding and inspiring future collaboration within Southeast Asia.

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

NTT Group 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 key 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.

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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Photo by Aleksandar Pasaric via Pexels

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NSG BioLabs, a provider of biotech co-working laboratory and office space in Singapore, has announced completing a US$14.5 million financing round led by Asian private equity firm Celadon Partners.

ClavystBio, a life science investor and venture builder set up by Temasek, also participated in the round.

With the new capital, NSG BioLabs intends to enhance its products and services and introduce additional facilities to meet the growing demands of biotech startups and multinational companies in Singapore and Southeast Asia.

Also Read: How NSG BioLabs aims to nurture biotech innovation in Singapore and beyond

In addition, NSG BioLabs has secured partnerships with government agency Enterprise Singapore and science and technology company Merck to bolster the biotech landscape by providing funding, expertise and networks to advance startup R&D. It has been part of EnterpriseSG’s Startup SG Accelerator since 2019.

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.

In partnership with EnterpriseSG, NSG BioLabs will invest in and nurture more high-potential biotech startups, in particular, expanding support for those with promising innovations in fields such as precision medicine, with the aim of fast-tracking the development and commercialisation of such deep tech solutions.

Also Read: Farquhar, Korea’s S&S Lab collaborate to support biotech, foodtech startups

After its first site opening in November 2019, NSG BioLabs expanded with its second site in August 2021 and recently 2023 with its third site. Now, it has three sites totalling 35,000 square feet.

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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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Last week, Jobs on Demand (Jod), Singapore’s multi-industry flexible on-demand gig work platform, introduced JodRewards, an initiative designed to motivate users to complete tasks on the Jod platform while extending worker benefits to those engaged in the gig economy. The launch followed a local survey among 1,000 Jod Members, revealing that eight out of ten respondents felt deprived of traditional employment benefits as gig workers.

Comprehensively tailored to meet the unique needs of gig workers, JodRewards seeks to elevate the support and security standards within the gig economy by affording gig workers the same benefits full-time employees enjoy. The programme, currently boasting an estimated 60,000 Jod Members, has witnessed over 1,000 active engagements and a redemption of 65,000 points (equivalent to S$$12,755 worth of rewards) since its soft launch in April.

These points, earned based on user tiering and total hours worked per job, can be redeemed for various rewards, including transport, meal, and grocery vouchers, with values of up to S$20 each. Additionally, members can partake in challenges. Nearly 800 members engaged in challenges throughout April, earning points that can be exchanged for benefits such as paid break time and paid annual leave, providing a financial payout for rest days.

“In our inaugural year at Jod, we are targeting to disburse over 1 million JodPoints, translating into more than S$200,000 in cash benefits to our members. This initiative is expected to bolster our platform’s fulfilment rate by 25 per cent while simultaneously reducing no-shows and cancellations by 30 per cent,” says Sebastian San, Country Manager (Singapore) at Jod, in an email to e27.

“Additionally, we are committed to elevating the safety and security of our gig workers. We plan to roll out enhanced protection measures and a broader range of benefits to ensure a safer and more supportive environment for our members very soon.”

Also Read: CreditEase, Plug and Play invest in Smile API, an employment data startup targeting gig workers

San further explains that the company’s user acquisition strategy is designed to be as dynamic and diverse as the gig economy itself and tailored to meet the needs of the particular job in demand and its members.

“We employ a multifaceted approach that includes leveraging digital marketing to reach a broad audience efficiently, implementing referral programmes that incentivise our current users to bring in new members, and forming strategic partnerships with key employers and sectors relevant to our services,” he says.

“Furthermore, we strongly emphasise building a supportive community that benefits both Jod Members and employers, ensuring that we meet the evolving needs of all stakeholders. The expansive data analytics and market insights have also allowed us to refine our strategies, improve job matching accuracy, and ultimately increase fulfilment rates across our platform. Our goal is to not only attract new users but also create a thriving ecosystem where all participants can find value and opportunities.”

Empowering gig workforce

Jod, a mobile-first digital platform, aims to streamline the process for employers to find and manage their workforce efficiently. With a focus on simplicity, flexibility, and accessibility, Jod utilises technology to create user-friendly products.

Established in 2015, the company introduced Southeast Asia’s pioneering gig work platform, JodGig.

Since 2020, Jod has operated as a subsidiary of Janakuasa, a prominent Singaporean energy multinational corporation, as part of its newly launched New Ventures division. As a member of the Janakuasa group, San says that Jod takes pride in aligning with an organisation renowned for its innovation and commitment to sustainability. While Janakuasa focuses on providing sustainable energy solutions, Jod harnesses the spirit of empowerment to support gig workers through innovative platforms and technologies, contributing to the advancement of the gig economy.

Also Read: The future of the gig economy: How to scale your sales workforce

“Leveraging Janakuasa’s expansive pool of resources has allowed Jod to develop robust and extensive research aiming at our target audiences, enabling us to continually enhance our app and services to stay tip-top and relevant. Additionally, this affiliation allows us to reach an established customer base and significantly broadens our market reach. It also lends us credibility and strengthens our position in the market by associating us with Janakuasa, a respected and trusted brand,” San explains.

“These benefits collectively fuel our mission to empower the workforce of tomorrow and drive our growth in the gig economy.”

The Singapore team at Jod comprises 15 dedicated members across various functions, including product development, business development, marketing, operations, and customer and business support.

“We cultivate a culture of collaboration and inclusivity, recognising that every individual’s contributions are integral to our collective success. By fostering an environment where diverse perspectives are valued, we empower our team to innovate, problem-solve, and drive growth effectively,” San says.

Looking forward to 2024, Jod is gearing up for regional expansion into the Philippines, Malaysia, and Vietnam.

“As part of this expansion strategy, we plan to expand our team further, bringing onboard new talent to bolster our capabilities and extend our impact across the region. With a commitment to excellence and a collaborative mindset, we are poised to navigate the challenges and opportunities of our expansion, driving towards our vision of empowering the gig economy and fostering sustainable growth in Southeast Asia.”

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Image Credit: Jod

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Singapore-based climate-tech investor Earth Venture Captial has co-invested in Paris-based aerial inspection startup HyLight’s EUR3.7 (US$4) million investment round.

Y Combinator, Ring Capital, Kima Ventures, and Collaborative Fund are the other investors.

Tesla co-founder Marc Tarpenning also participated.

Also Read: AI can bring more intelligence and automation into drone industry: Aerodyne CEO

The round will help HyLight conduct its first large-scale operations and expand its network of strategic partnerships. The capital will also support the recruitment of experts in aviation regulation, embedded systems, hydrogen systems, mechanical engineering, industrialisation, and software development. The firm will also use a portion of the money to develop new versions of its airship drones, meeting stringent aeronautical and industrial standards.

“This round of financing is a decisive milestone for HyLight. It allows us to realise our vision of providing large-scale infrastructure inspection in a decarbonised and highly precise manner.”, said Martin Bocken, CEO of HyLight.

Founded in 2022 and located in Brétigny-sur-Orge, HyLight is an aerial inspection company. Its flagship creation, the HyLighter, is a hydrogen-powered airship drone capable of collecting vital data over extensive distances without emitting greenhouse gases.

At the heart of HyLight’s technology is a sophisticated blend of artificial intelligence (AI) and computer vision capabilities. The airship drones are equipped with HD cameras and advanced sensors such as LIDAR and thermal infrared that can capture ultra-precise data over large areas, facilitating the early detection of faults and anomalies.

The drones detect previously uncollected data, transmit it securely, and generate detailed reports for preventive measures.

The drones have a flight autonomy of up to 10 hours and a range of 350km.

Also Read: Aerodyne partners with DroneDash for cross-border delivery services between Singapore, Malaysia

In under two years since launching, HyLight has developed seven iterations of its airship drone, logged over 150 hours of flight time, and secured inspection contracts with Enedis, Europe’s largest power line operator, to pilot its innovative aerial inspection solutions.

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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.

The post Singapore’s Earth VC, Tesla co-founder invest in French aerial inspection startup HyLight appeared first on e27.

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

At its core, Echelon serves as a platform dedicated to gathering key innovators with the goal of fostering collaboration among startups, investors, corporates, SMEs, government bodies, and various ecosystem players by offering valuable tools and knowledge.

This annual gathering, attracting top brands and industry figures, grants attendees exclusive access to market insights, growth initiatives, a digital marketplace, market entry strategies, brand enhancement opportunities, and a platform for networking and collaboration among the region’s most promising innovators.

Scheduled for May 15-16, 2024, at Singapore EXPO Hall 2, Echelon X embarks on a mission to fortify the resilience of the tech ecosystem. By fostering deeper collaboration, disseminating cutting-edge knowledge, and propelling collective innovation, this edition promises to be a beacon of transformative change.

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.

AI at the forefront of today’s most exciting emerging technologies

AI  stands at the forefront of technological innovation, captivating industries and individuals alike with its transformative potential.

As an emerging technology, AI holds the promise of revolutionising nearly every aspect of human life, from healthcare and transportation to finance and entertainment. Its ability to analyse vast amounts of data, recognise patterns, and make autonomous decisions surpasses human capabilities, offering unprecedented efficiency and accuracy. Moreover, AI’s adaptability and continuous learning capabilities mean that it can evolve and improve over time, constantly pushing the boundaries of what is possible.

The allure of AI lies in its capacity to tackle complex problems and streamline processes in ways that were once unimaginable. By automating routine tasks, AI liberates human labour, allowing individuals to focus on higher-level strategic thinking and creative endeavours. Furthermore, AI-driven insights and predictions empower businesses to make data-driven decisions, optimise operations, and gain a competitive edge in today’s fast-paced world.

Its potential to enhance productivity, drive innovation, and solve some of society’s most pressing challenges make AI one of the most sought-after innovations of our time, promising a future where technology serves as a powerful force for positive change. With that, get to know these exciting AI startups that will be exhibiting their products and services at Echelon X!

8 AI-driven startups to showcase at Echelon X

1. PixCap is the first to deliver a cloud-based 3D Animation Solution for collaborative 3D animation creation with AI motion capture, drag-n-drop animations, and user-friendly UX.
2. FinbotsAI offers an AI-powered credit scorecard system, enabling rapid development of high-performance risk models across the credit lifecycle, with intuitive management and accessibility for small lenders.
3. azgo is an AI-driven travel price comparison app aiming to reshape trip planning with AI-powered price comparison, diverse experiences, and rewards, fuelled by a community of adventurers.
4. Staple’s deep learning platform allows users to see extracted data, and make edits to continuously improve data capture behaviour — all with a simple point-and-click interface.
5. DevRev’s OneCRM, purpose-built for the SaaS vertical, comprises three modern CRM apps for support, product, and growth teams. It connects end users, sellers, support, product people, and developers, reducing 9 business apps and converging 6 teams onto a common platform.
6. Autom8e transforms small businesses globally to thrive by operating efficiently, reducing costs, saving time and achieving scalable profitability using Automa8e’s AI-powered finance and accounting systems.
7. Inspius helps you headhunt, technically interview, HR-manage, and hire remote software engineers in Vietnam for Singapore & US companies.
8. Locofy.ai, founded in 2021 by Honey Mittal and Sohaib Muhammad, accelerates development by converting designs to code, enabling faster launch of web and mobile products.

Get to know these startups 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.

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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Photo by cottonbro studio via Pexels

The post 8 AI startups to showcase cutting-edge solutions at Echelon X appeared first on e27.

When we examine the trajectory of fast-growing sectors such as fintech and crypto, it’s evident that these industries have harnessed the power of momentum markets to achieve exponential growth. For edutech companies looking to replicate this success, there’s much to learn from the strategies employed by these sectors.

Drawing inspiration from the Levi Strauss approach, which involved selling jeans to gold miners during the gold rush, edutech companies can similarly position themselves by focusing on upskilling individuals in booming industries like AI and Web3.

Understanding momentum markets

Momentum markets are characterised by rapid growth, high investor interest, and significant consumer demand. In these markets, products and services often experience accelerated adoption rates. Fintech and crypto are prime examples, having transformed financial services through innovative technologies like blockchain, digital currencies, and mobile banking. The key lesson for edutech companies is the importance of aligning with sectors that possess strong growth potential and are on the cusp of widespread adoption.

Levi Strauss’s strategy was brilliantly simple: instead of searching for gold himself, he sold durable jeans to those who were mining for gold, thus capitalising on the gold rush in a unique and profitable way. edutech companies can adopt a similar approach by providing educational products and services tailored to individuals seeking to enter or advance in high-growth industries such as AI and Web3. By doing so, they can create a valuable niche for themselves, catering to a market with a high demand for specialised skills.

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

Spotlight on innovation

Two tech companies that have adeptly capitalised on the fintech and crypto wave are Stripe and Coinbase. Stripe, a fintech giant, simplified online payments, making it easier for businesses to accept payments from anywhere in the world. Their platform democratised e-commerce for small businesses, aligning perfectly with the ethos of accessibility and innovation. On the other hand, Coinbase, a leading cryptocurrency exchange platform, has made buying, selling, and holding cryptocurrencies more accessible to the general public, further fueling the crypto boom.

Both companies exemplify how understanding and leveraging momentum markets can lead to exponential growth. For edutech, these examples serve as a beacon, highlighting the importance of innovation and the strategic foresight to tap into emerging trends.

AI and Web3 represent two of the most promising areas for future growth. As these technologies continue to evolve, there’s a burgeoning demand for skilled professionals who can navigate these complex fields. edutech companies can seize this opportunity by offering courses, certifications, and training programs specifically designed to equip learners with the skills needed to excel in these industries. This not only benefits individuals looking to advance their careers but also addresses the talent shortages faced by companies operating in these sectors.

To truly learn from fintech and crypto, edutech companies must also embrace innovative learning models that reflect the dynamism of these sectors. This could include leveraging blockchain to issue verifiable digital credentials, employing AI to personalise learning experiences, or creating immersive learning environments using virtual reality. By integrating cutting-edge technologies into their offerings, edutech companies can enhance the effectiveness of their educational programs and appeal to a tech-savvy audience.

Also Read: In this age of digitalisation, is edutech a bane or boon for educators?

Strategies for edutech growth

To harness the potential of momentum markets, edutech companies must adopt a multifaceted approach:

• Tailored upskilling programs: Just as Levi Strauss provided the gold miners with what they needed most, edutech firms should focus on offering specialised courses that cater to the burgeoning demand for AI and Web3 expertise. This involves not just teaching technical skills but also providing insights into industry trends, regulatory environments, and emerging technologies.
• Embrace cutting-edge technologies: Incorporating advanced technologies such as blockchain for secure certifications, AI for personalised learning experiences, and VR for immersive learning environments can significantly enhance the value proposition of edutech offerings.
• Cultivate communities and ecosystems: Building vibrant online communities where learners can collaborate, share insights, and network can mimic the communal and networking strengths of the fintech and crypto sectors. These communities can serve as a support system, fostering a sense of belonging and mutual growth.
• Forge strategic alliances: Partnerships with industry leaders in AI and Web3 can provide edutech students with invaluable real-world experience and exposure. These alliances can bridge the gap between theoretical knowledge and practical application, making the learning experience more robust and industry-relevant.
• Innovative marketing: Drawing from the fintech and crypto playbook, edutech companies should craft compelling narratives around their courses, highlighting how they can catapult individuals into high-growth career paths. Success stories and alumni testimonials can play a pivotal role in illustrating the tangible benefits of their educational programs.

Looking forward

By observing and integrating the successful strategies of fintech and crypto companies like Stripe and Coinbase, edutech firms can navigate the momentum markets with confidence. The key lies in offering tailored educational services that meet the current demand for specialised skills in AI and Web3, leveraging technology to enhance learning experiences, and building a supportive community that fosters growth and innovation. 

Through these concerted efforts, edutech companies can not only contribute to shaping the workforce of tomorrow but also secure their place in the rapidly evolving educational landscape.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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In today’s interconnected world, environmental sustainability stands as a cornerstone for organisations striving to balance growth with responsible stewardship. Yet, many companies are overwhelmed by the challenge presented by this balancing act.

We recognise the challenges these companies face. This article delves into how Doxa can be a part of solving these challenges faced by many companies.

At Doxa, environmental sustainability isn’t just a buzzword; it’s a guiding principle ingrained in our operations. Leveraging digitalisation and data management, we streamline processes to minimise our environmental footprint. By embracing digital workflows, we reduce paper consumption and enhance efficiency, demonstrating our commitment to sustainability through action.

Doxa Connex is a platform that we offer to companies to practically put environmental sustainability into action and not just words.

A big part of environmental sustainability in the built environment sector is the Embodied Carbon calculation. In fact, governments around the world are pushing for this calculation and making it mandatory reporting to be effective as early as 2025, as evident in the EU Taxonomy. The complex calculation is even more daunting when you consider the amount of data and effort required to perform them effectively.

With Doxa Connex, working with Razer’s Restorify, we believe the best approach forward is by taking the life cycle approach towards measuring carbon footprint.

Also Read: 11 easy strategies that are important for every startup to succeed

Doxa Connex automates the calculations of Embodied Carbon, enabling real-time tracking and reporting of carbon emissions associated with purchased goods. When the procurer and suppliers key into the required datasets, Doxa Connex applies an activity-based approach to modelling what the emissions are like for our customers. Through such initiatives, we strive to set new benchmarks for environmental stewardship.

Our first use case will be within the construction industry. By using Doxa Connex for your procurement workflow, starting from purchase requests through goods receipts, embodied carbon calculation happens automatically and is allocated to the right categories under your organisation’s Scope 3 reporting standard.

With a measurable life-cycle approach, partners have a dependable platform to ensure quantifiable reporting instead of vague claims running into the risks of greenwashing.

Our solution is validated as we are an official partner with SGTraDex in its green and sustainable trade finance. With SGTraDex, Doxa Connex is able to push data seamlessly to all participating financial institutions.

We are seeking future independent audits for our solution and will be moving towards supporting a net zero vision for our built environment sector. By using the activity-based approach, we endeavour to encourage our partners to set ambitious goals and utilise dashboards to track progress transparently.  Sustainability is a collective movement requiring collaboration across stakeholders.

As such, we are working closely with multiple market leaders to not only provide a technological solution but also provide incentives in the area of green trade financing.

Through strategic alliances with financial institutions, we facilitate green financing and sustainable trade finance, fostering a culture of environmental stewardship beyond organisational boundaries.

In conclusion, Doxa hopes to be your preferred partner in the collective efforts of every company to make a move to net zero a success. It may be a chore for many, but we can help in making it less painful.

Let us help you and your companies in this journey to drive a positive impact on our world. We invite you to join us in this collective pursuit of a greener, more sustainable world.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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

Image credit: Canva

The post How Doxa cuts through the carbon chaos: Simplifying embodied carbon calculations appeared first on e27.

TWdecoman, a one-stop matching platform for interior designers and renovation companies in Taiwan, has completed a strategic investment round from Jan Cheng Lighting, the owner of LED lighting brand DANCELiGHT.

The capital will enable TWdecoman to expand its renovation matching business actively.

TWdecoman, a unit of Hong Kong-headquartered Decoman Group that entered Taiwan in 2022, helps homeowners find and match with the most suitable interior designers and renovation companies. It utilises AI and big data to “accurately analyse data through an algorithm, thereby matching up homeowners with the most suitable interior design or renovation companies”. In addition, it provides do-it-yourself (DIY) home repair courses.

Also Read: Bridging Taiwan and Southeast Asia through innovation and tech

Currently, TWdecoman provides services in Taipei, Hsinchu, Taichung, Tainan, and Kaohsiung. It now plans to expand in Q2 this year and will launch in the Tainan area.

At the same time, its DIY home repair courses are currently available in five major counties/cities of Taiwan, attracting over 250 students monthly, totalling over 1,500 students.

Benny Liu, Founder of Decoman, said: “Over the past year or so, not only have we achieved results in online media and offline operations, but we have also made great efforts in our local AI system and database. Now we can further deepen our big data analytics through Jan Cheng Lighting’s expertise, years of rich experience and available relevant info of the Taiwan market, while embarking on the Tainan market through Jan Cheng Lighting’s strong business networks in the southern region. Consequently, both our groups can reach supply chain synergy, creating a more flexible and resilient ecosystem structure.”

Also Read: e27’s role in empowering Taiwan startups through the Vision Program

Decoman also operates in several markets, including Singapore and South Korea. It is actively preparing to expand its business to the Australian market.

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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.

The post One-stop matching platform for home renovation TWdecoman lands strategic financing round appeared first on e27.