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Brand new days: How startups can approach growth in a post-pandemic world

What elements constitute growth and scale for a startup?

According to our contributor David Isaac Matthews, Principal: Growth & Venture Building at Causality Co, it all starts with finding that product-market fit.

“Product-market fit is the holy grail of startups and launching innovation. It is when you are creating value for a profitable customer segment. It is the point at which your product meets the needs of your target market, creating a unique value proposition that drives growth. But achieving product-market fit is easier said than done,” he writes.

In the pre-pandemic world, growth is often identical with speed, and startups often stays in a cycle of raising funding in order to expand to new markets before they are hit with the reality of sustaining a business.

But as we are dealing with back-to-back global crises, is there any difference in the way we should approach this? What lessons have we learned in the past few years, and what remains relevant? What opportunities are there to explore?

Also Read: 6 different ways to explore growth at Echelon Asia Summit 2023

This year, Echelon Asia Summit will be back on June 14-15 at Singapore EXPO to build towards a sustainable and impactful tech ecosystem.

The event will feature six key themes and tracks:

  • Soonicorns and the Future Change-makers of SEA
  • Future Sectors and Investment Trends
  • Growth and Scaling
  • Investments and M&A
  • Sustainable Growth and Climate
  • Web3

We are looking forward to featuring startup founders who will not hesitate to share their stories. From the most valuable lessons that you have ever learned to tips-and-trick on how companies can scale and grow their business in a challenging time like this, we believe that no ones knows better than you!

We are also looking forward to hear from investors, corporations, and government agencies on the role that they play in helping startups scale–and how they can make a difference in it.

If you are the right person to speak about this key theme and track, or know someone who does, we would like to hear from you. Register HERE and we will get in touch soon.

See you in June.

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Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups get the chance to pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

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Singaporean startup KittyKat does affordable brand photoshoots for small online businesses

KittyKat Co-Founders Kathy Sheehy and Des Sheehy

To attract potential customers, eye-catching visuals (photos and videos) are critical for online businesss, such as e-commerce shops, marketplaces, and e-magazines. However, getting affordable, fast visuals is costly and challenging.

While large brands can afford professional photo shoots, smaller brands trying to move onto e-commerce platforms are less fortunate.

“A professional shoot is expensive and difficult to execute,” Kathy Sheehy tells e27. “Lots of efforts are going into it, from hiring a photographer, renting out a studio, renting lights, hiring a stylist, models, make-up artists. Quotes for bespoke shoots could run into thousands of dollars.”

Also Read: AI has the potential to perpetuate harmful biases, says Inmagine CEO

There should be a way to make photoshoots affordable for smaller brands without compromising quality, Kathy thought to herself. The Singaporean national, who has a background in brand building, social media and communications, broached this subject with Des Sheehy, her self-proclaimed “worst half” and a 35-year veteran of investing, and KittyKat was born.

Based in Singapore, KittyKat is the next evolution of brand photography, claims Kathy, the Chief Creative Officer. The startup works with brands and SMEs to create photos, videos, and GIFs affordably. “We produce images that are fast, aesthetic and affordable. We leverage AI to produce brand visuals and then use tech/humans to present, refine and multiply these images.”

As a business owner, you can book your shoot on the KittyKat website and send your product to the company for the shoot. You can then join the shoot virtually and get the pictures and videos later. Businesses can also get photoshoot recommendations from KittyKat.

The startup works with in-house and freelance creators, providing them more work, tools, and training to elevate their output.

KittyKat targets businesses where the image they present online is important: a web page, e-newsletter or social media account. According to Kathy, KittyKat has already worked with nearly 100 SMEs, brands, and MNCs across the US, Australia, and Asia.

Like most startups, the AI company also faces several challenges, of which behaviour change is the biggest. Small companies beginning their online journey don’t think visuals are essential, while large companies with in-house marketing teams need the incentive to change their traditional ways.

“Overcoming the assumption that we are a photo studio was challenging. While we take photos, we are a service that uses innovation, new technology, and AI to ensure we maximise the impact of the client’s visual assets,” she says. “We help SMEs/brands scale and sell across geographies as we can create visuals that match local market needs.”

In her opinion, the best way to overcome such challenges is by experience.

KittyKat doesn’t charge thousands of dollars for shoot unlike other service providers. Instead, it provides a personal dashboard where the clients can access all the digital visual assets. They can pick new visuals from this dashboard to use later.

These assets constantly grow as KittyKat keeps adding new images through its multiplier and user-generated content (UGC) creators. The dashboard also provides access to content, training and tools to improve the performance of the marketing team and the brands. “We don’t want a client to come back for another shoot; we want the client to select from their personal gallery in a single click,” Kathy notes.

The startup offers various payment models to its clients: pay-as-you-go, SaaS, or account model to draw down these assets from their dashboards. They can also order new shoots or new formats from this, such as 3D, NFT, Print Ready etc.

A bootstrapped company, KittyKat recently raised a strategic investment round from 11 family members and friends. It has 23 staff workers across Singapore, the US, Ireland, Malaysia, and Australia.

Also Read: Instill AI can convert your unstructured data into meaningful data using low-code tools

In the next six to nine months, the firm plans to open a physical presence in the Middle East, Europe and the US, to better capture the initial images in mature markets.

“An image is worth a thousand words – one of the hardest parts of a digital transformation/platform are the images. At the end if the day, you need good visual assets to sell online,” Kathy signs off.

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

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DigiFT, a DEX founded by ex-Deputy China CEO of Citibank, bags US$10.5M funding

DigiFT Founer Henry Zhang

DigiFT, a Singapore-based digital asset exchange (DEX) for asset-backed tokens (STO), has secured US$10.5 million in a pre-Series A funding round led by Shanda Group, a global privately-owned investment group.

Other investors also participated, including HashKey Capital, Hash Global, Xin Enterprise, and North Beta Capital.

The startup will use the new funds to support license applications in Asia, the Middle East, and Europe, technology development, and expand its innovation capabilities. The firm also plans to expand its team.

DigiFT was founded in 2020 by Henry Zhang, formerly Greater China CEO of East West Bank and Deputy China CEO of Citibank and Standard Chartered Bank.

Also Read: How to scale voluntary carbon markets with DeFi and Web3

DigiFT is a DEX for asset-backed tokens (STO) and is the first such exchange enrolled in the Monetary Authority of Singapore FinTech Regulatory Sandbox. It aims to provide regulated DeFi solutions on the Ethereum public blockchain, offering an automatic market-making (AMM) mechanism that facilitates secondary trading liquidity for security tokens backed by financial assets.

Asset owners can issue blockchain-based security tokens cost-effectively. Investors can also trade with continuous liquidity via the AMM mechanism and retain control over digital assets in their wallets.

“As a key international financial hub, Singapore boasts a robust legal framework and government support for tokenisation with blockchain technology. We look forward to further working with regulatory bodies to steer our industry in the right direction,” said Henry Zhang, Founder and CEO of DigiFT.

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

The post DigiFT, a DEX founded by ex-Deputy China CEO of Citibank, bags US$10.5M funding appeared first on e27.

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Una Brands rakes in US$30M to acquire e-commerce brands in home & living, mom & baby segments

The Una Brands leadership team

Una Brands, a multi-channel e-commerce aggregator headquartered in Singapore, has announced an additional US$30 million pre-Series C funding round led by Northstar Group.

This follows the company’s US$30 million Series B round led by White Star Capital and Alpha JWC Ventures in September 2022, and brings the total raise over the past year to US$60 million.

With this fundraise, the company plans to develop its multi-channel platform further and invest in strengthening supply chain and distribution networks in key operating markets.

Una Brands will also use the proceeds to continue acquiring high-quality e-commerce brands within the home & living, mom & baby, and beauty & personal care categories. In line with the consolidation trends in developed markets, the firm will also explore strategic opportunities to bolster its growth and solidify its position as the leading multi-channel e-commerce aggregator in APAC.

Also Read: Una Brands acquires ergonomic furniture brands ErgoTune and EverDesk+ for 8-figure USD

Founded in 2021, Una Brands is a multi-channel e-commerce aggregator. Its flagship brands, ErgoTune and EverDesk, are now in multiple countries across the APAC region and beyond.

Co-Founder and CEO Kiren Tanna said: “We believe their deep knowledge of the Southeast Asian markets and strong e-commerce experience will be very valuable to Una Brands as we look to double down our operations across the region.”

In 2022, Una Brands acquired multiple brands, including a premium DTC brand catering to nursing mothers in Malaysia and one of TikTok’s most popular lip care brand in Indonesia.

As a group, Una Brands claims to have achieved US$70 million in run-rate revenue and is expected to achieve Group EBITDA profitability in 2023.

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

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How to launch collaborations that grow communities: A guide for Web3 founders

Collaborations are a bootstrapped founder’s friend. Partnerships and collaborations are a crucial part of Web3 marketing since Web3 marketing is all about community building.

Partnerships and collaborations, from Twitter Megaspaces, to Discord Stages to even cross posting of tweets and whitelist partnerships, help projects expose themselves to already existing communities. When exposed to already existing communities, projects in turn, are also able to absorb fans from said community who may also be interested in the partner project.

From an operations standpoint, activating a partnerships team that can execute campaigns that grow communities will also maximise the results of the growth, marketing, and community department.

I’ve worked with bootstrapped Web3 projects with little to none marketing power, but with the right collaborations with the right projects, I was able to build a healthy and engaged community.

At its core, Web3 collaborations and partnerships are essential since:

  • Collaboration is the language of real builders in Web3
  • Collaboration helps projects absorb community members from already existing communities, both of which are crucial to building the ecosystem of the project

Part one: Selecting community profiles

Similar in Web2, where the customer persona is first profiled before all marketing and advertising efforts are launched, Web3 founders also have to set up profiles. However, in Web3, founders have to think not in customers but in communities. Enter community profiles.

Also Read: The future of Web3 communities: What’s next after the NFT community craze?

First step, founders have to identify the community profiles that they will partner with for their projects. The following are the non-negotiable factors to be identified:

  • Community volume: What’s the minimum community members for our partners? Will we accept partners no less than 10K community members? What is our non-negotiable volume?
  • Activity ratio: How do we define a healthy community? How many engagements on a weekly basis on their social media trees and discord server do we define as an active audience?
  • Project quality: Is the project doable? Do the founders have what it takes to build the project? Is the project investor backed? What momentum and traction does the project have?

The following metrics have to be set, and founders have to check these before executing partnerships as if their project’s life depended on it because it does. Founders do not want their projects to be affiliated with projects that rug or fool its community.

It’s also important to note that communities exist both in Web2 and in Web3, and its crucial for founders to reachout to Web2 communities as well.

For example, an NFT collection of skateboard art with skateboarding related utilities can also benefit from partnerships from Web2 skateboarding communities. It’s just a matter of engaging with the right community profiles.

Part two: Pitching the collab

Partnerships that bear fiat payments are rare in the space of Web3 since communities are all about facilitating and exchanging value. The standard trade in community partnerships are usually cross WL giveaways, NFT giveaways, perks access, or the like to both communities (though in the guild side of Web3, some ask for “AMA fees”).

For reference, projects that receive the pitch usually check three important metrics before accepting the collaboration:

  • Community member/following count: Does the pitching project have an ample community count?
  • Activity ratio: Does the pitching project have a healthy community? Are they composed of real people or bots?
  • Project quality: Do the founders of the project have a real project on their hands? Do they have what it takes to build it?

Hence, founders have to prepare a pitch that showcases the following metrics:

  • Community members
  • Social media trees audience
  • Brand/project engagements
  • PR engagements
  • Audit results (if applicable)

Bottom-line is founders have to prepare a pitch that showcases their presence, momentum, traction, and legitimacy to make prospect community partners say yes.

Part three: Finalising collaboration terms

Once both communities say yes to the collaboration, similar to Web 2 partnerships, the terms of the partnerships have to be finalised. At this point, its also important to note that MOUs and MOAs for community partnerships for Web 3 projects are rare (from our experience working with more than 100+ Web 3 projects all around the world).

MOUs, MOAs, and the need for other sorts of documents defeat the purpose of building a decentralised web (latency and centralisation), so the approval of the founders via chat is almost always enough. Of course, if you’re a brand in Web3 and not necessarily a community, the MOUs, MOAs, and other documents are essential. But strictly, Web3 communities and projects often don’t have those.

Usual collaboration terms in Web3 partnerships include but are not limited to:

  • Collaborations/partnership announcement: How will we announce the collaboration? Will we announce only on Twitter? Discord?
  • Cross WL/NFT/perks giveaway: What value will we provide both communities? How much WL’s will each project allocate each other? How much NFTs? If not those, what perks or benefits will the project grant the community?
  • AMA/Twitter space/Discord stage event: How will we execute the cross-community AMA? What’s the event brief and objectives for the event? Where will the event take place?

Part four: Hosting the space/stage

Hosting the Discord stage or the Twitter spaces is perhaps the most important part of the collaboration. Web3 marketing is all about community building, and as you know it, community building is never transactional — its always about relationships.

Also Read: Web3 marketing: Building a cult-like community

Hence, to build relationships between communities, the leaders (i.e., founders) of both projects have to show up on a platform to discuss to their communities the vision, roadmap, and collaboration plans of both projects moving forward.

Showing up to Twitter spaces or Discord stages is proof to the community of the project and the leaders that their leaders are engaged in the partnership. The event gives reason enough for the community members of both communities to checkout each other’s projects and communities. That’s when the growth happens.

Part five: Hiring a collab manager

Once founders find the right formula for their project’s collaborations and partnerships, I often recommend them to hire and outsource a collaborations manager to take the wheel so they can focus on building the project. The collab manager is one of the most important pieces of a Web3 marketing team ecosystem.

The collab manager is in charge of looking for other partner communities and projects with a vision, purpose, core values, and culture that matches the project being built. It is the duty of the collab manager to build a database of possible prospect partners, properly qualifying them with respect to community health, culture fitting, and value matching.

The collab manager should qualify the projects first and should not work with just any project that doesn’t match the community’s identity as it would mess with the work of the moderator.

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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: Magdiel Lopez/Belmont Creative

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Grayscale Ventures makes first close of its DevInfra-focused micro-fund

Nikhil Kapur (left) and Siddharth Verma

Nikhil Kapur and Siddharth Verma, who were previously part of Japanese early-stage venture firm STRIVE, have announced the formation of Grayscale Ventures.

The new fund is focused on SaaS and DevInfra companies in Southeast Asia and India. The team plans to focus primarily on the following themes:

DevInfra
In a statement, the firm said that with India being the second largest developer base in the world, it will soon to overtake the US. “Developers in India have built infrastructure for scaled-up products used by more than 100 million users, making it a unique skillset globally. Using these capabilities they are now building the next generation of infra companies focussed on other developers.”

AI applications
“In the past, SaaS systems were either systems of record or systems of engagement such as Salesforce or Slack respectively. The next generation of SaaS systems will be systems of intelligence and this is where we’ll invest our capital,” the company stated, commenting on the rising popularity of AI.

Vertical SaaS
With this sector, Grayscale Ventures aims to seize opportunities provided by the pandemic, when SMEs became more open to tech adoption and digitalisation.

Also Read: Ecosystem Roundup: Layoffs at Ruangguru, GoTo’s Q3 revenues triple, Better Bite forms new idea-stage alt-protein fund

The 10-year term fund plans to invest in 15 to 20 startups at their Pre-seed stage, essentially the first cheque into the company.

With a cheque size of US$200,000 to US$1 million, Grayscale Ventures targets around 10 per cent ownership in these companies, preferring to lead the rounds wherever possible or co-leading with other specialised funds. The team looks for founding teams that are product-led with strong developer capabilities.

Most of the LPs are operators and founders of companies such as Slack, Zendesk, Hasura, GlobalWay, Nexus, STRIVE, and Apollo Munich UOB.

“We come from Dev and Product backgrounds, so we tend to understand what technical founders are building better than most generalist investors. Our portfolio founders find value in working with us as we support them in figuring out their product-market-fit and opening up market access in the US and APAC. Our LPs are operators and founders from tech companies globally, and we leverage their support for our portfolio’s growth,” the company stated.

Grayscale has already invested in a few SaaS companies including Olvy, a product feedback lifecycle management SaaS, and Localwell, mobile SaaS for Indian pharma retailers.

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Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups get the chance to pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

Image Credit: Grayscale

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AI has the potential to perpetuate harmful biases, says Inmagine CEO

Inmagine Group CEO Warren Leow

Artificial intelligence has already started dominating our lives. From ChatGPT and Stable Diffusion to DALL-E-2, AI tools are now widely used to automate time-consuming and repetitive tasks.

Inmagine also makes the most of this tech to change how people create and access digital content. Malaysia-based Inmagine comprises three brands: 123RF (royalty-free digital stock agency), Pixlr (image editing tool), and Designs.ai (an all-in-one creative suite that creates videos, logos, audio, copy, and designs within two minutes using AI).

e27 recently talked with Inmagine Group CEO Warren Leow to learn how AI impacts the stock photography and graphic design industries and the ethical side of the technology.

Excerpts:

How does AI change how people create and access digital content? How does it impact traditional stock photography and graphic design industries?

Artificial intelligence automates time-consuming and repetitive tasks, allowing creatives to focus on more complex and creative aspects of their work. Midjourney, Stable Diffusion and DALL-E-2 permit users to create amazing work. ChatGPT revolutionises business productivity across language translation, prompt engineering, and voice-enabled interfaces.

Also Read: How Inmagine is Googlising its workplace to foster an inclusive and collaborative work culture

As a result, AI enables individuals and businesses to create and access digital content in new and more efficient ways.

It enables the creation of more personalised and relevant content, an important aspect of modern digital marketing. Furthermore, artificial intelligence-powered tools are increasing the efficiency and speed of content creation, reducing the time and cost required to create high-quality assets. Finally, it allows the stock photography and graphic design industries to evolve and adapt to changing customer and market demands.

How does Inmagine leverage AI to improve the user experience for customers on platforms such as 123RF, Pixlr, and Designs.ai?

Inmagine is leveraging AI technology to improve the user experience for our customers across our platforms. To provide more accurate and relevant search results within 123RF, we are implementing AI-powered search algorithms on 123RF.

Pixlr is utilising the tech to provide intelligent editing tools that can assist users in improving their images more efficiently. This includes adding new generative and game-changing features such as The AI Infill and AI text-to-image generator, empowering our users to create stunning visuals smarter, faster and easier.

While on Designs.ai, we use artificial intelligence to help our customers easily create professional-grade designs, logos, and branding materials. We are also investing in generative features and functionality to make design smarter, faster and easier.

These features help us create a more personalised user experience, making design smarter, faster, and easier.

Also Read: Instill AI can convert your unstructured data into meaningful data using low-code tools

123RF’s 200m content library is growing faster and larger and covers more representative topics with the help of generative content. For example, the industry lacked local content or content featuring non-white faces. This is important for inclusion, an essential theme across culture, gender and social classes.

What are some of the benefits of AI for businesses looking to create visual content?

Artificial intelligence-powered tools can significantly improve content creation efficiency, reducing the time and cost required to create high-quality visual assets. It can also improve the accuracy and relevance of search results, making it easier for businesses to find the required content.

Finally, AI can provide valuable insights and analytics to assist businesses in optimising their visual content strategy and marketing efforts.

In what ways does AI enable greater creativity in the digital content creation process?

Artificial intelligence has brought about significant advancements in the digital content creation process, opening up new possibilities for creativity and efficiency.

At Inmagine, we understand the power of AI and use it to enhance the capabilities of our three leading brands — 123RF, Pixlr, and Designs.ai. Through AI, we can automate repetitive tasks and simplify image editing tasks, such as object selection, background removal, and image enhancement. This frees up more time for our users to focus on the more creative aspects of their work, ultimately resulting in more original and compelling content.

Furthermore, AI can assist in generating ideas and suggestions, which is why our brand Designs.ai uses AI to offer customised design recommendations. By analysing user preferences, trends, and other data, we can suggest design templates, fonts, and other elements to enhance the final output. Designs.ai is now growing 200 per cent organically every month.

How do you see AI changing the way businesses approach marketing and advertising?

AI can help churn out more ideas and concepts faster and more efficiently. It is changing how businesses approach marketing and advertising by using data to understand target audiences better.

The technology can also optimise real-time campaigns, making them more efficient and effective. AI automation can also free up time for marketers to focus on more creative tasks.

With the rise of AI technology, do you see a potential shift in the job roles and responsibilities of designers and creative professionals shortly?

Artificial intelligence technology will not replace human creativity and design skills but rather complement them. While AI can handle repetitive tasks, human design expertise is still needed to create unique and compelling content.

AI technology can enhance the creative process but is not a replacement for human intuition and creativity. We focus on providing tools to help our customers and creative teams work more efficiently while improving the final product’s quality.

Are there any ethical concerns that arise when using AI in the creative industry? How does Inmagine address these issues?

Yes, ethical concerns will arise when using AI in the creative industry. We understand that AI has the potential to perpetuate harmful biases if not implemented carefully.

At Inmagine, we believe in using artificial intelligence responsibly and ethically. We also ensure that our AI tools are used in a way that benefits the industry and does not put our partners at a competitive disadvantage. We are investing considerable efforts in outlining terms and conditions, setting guidelines for contribution submissions, offering our consumers more choices and educating the general contributor community on how to grow with AI.

Also Read: Conversational AI in governance: Redefining citizen experiences

Our dedicated team of experts regularly reviews our AI algorithms to ensure they are aligned with our ethical standards. We also continuously monitor our AI systems to identify and address potential biases.

How do you see the future of AI technology in the creative industry, and what exciting developments can we expect from Inmagine in this space?

The future of artificial intelligence technology in the creative industry focuses on providing users with more personalised and efficient experiences. At Inmagine, we continue to innovate and provide easy-to-use, AI-powered tools that help our customers work more efficiently and create higher-quality content. We will continue to invest in artificial intelligence technology and explore new ways to use this technology to benefit our customers and the creative industry.

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

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Semaai nets funding to create integrated digital ecosystem for farmers, toko tanis in Indonesia

(L-R) Semaai Co-Founders Muhammad Yoga Anindito, Gaurav Batra, Abhishek Gupta

Semaai, a startup providing agri-tech solutions for farmers and rural MSMEs in Indonesia, has closed a bridge funding round led by Accion Venture Lab and XA Network, with participation from existing investors Sequoia Surge and Beenext.

This brings the startup’s total funding raised since inception to US$2.9 million.

The new funds will be used to support Semaai’s product expansion, which includes building digital advisory services for agri-retailers and farmers, as well as a new app to enable farmers to access agricultural inputs that are affordable and located nearby.

Semaai provides an integrated digital ecosystem that addresses supply chain disruptions and fills knowledge gaps for Indonesia’s agri MSMEs, such as rural agri-input retailers, known locally as toko tanis, and the smallholder farmers they serve.

Through its network of rural partner MSMEs, the startup provides “a full suite of agricultural services”, such as customised consultancy, productivity tools, farming inputs such as seed and fertiliser products and access to better markets.

Also Read: Indonesian agritech startup EdenFarm secures US$13.5M pre-Series B

Semaai’s solution encompasses three key services that address systemic issues within the country’s US$100 billion agriculture industry. It provides toko tanis and farmers with a B2B digital marketplace for agricultural inputs such as seed and fertilisers, access to better agricultural produce markets, and agronomy advisory services to improve their farming practices.

Since its launch in August 2021, Semaai has built a network of toko tanis and smallholder farmers in more than 2,980 villages in Central Java, with the number of active agri-retailer and MSME users on Semaai’s digital marketplace currently serving 2.6 million farmers in the region.

As per a press release, in 2022, monthly transactions on Semaai’s marketplace grew by 37 times, and monthly revenues for Semaai increased by 20 times. Semaai also purchases produce from its network of farmers and distributes it to large e-commerce companies in Indonesia. Profits from these sales are channelled back into the business, ensuring a sustainable cycle of growth.

“Agri-MSMEs play an important role as aggregators and are often much more tech-savvy than farmers, but they lack an all-in-one solution for agronomy, product knowledge and price transparency. We believe that empowering them will help these businesses better serve farmers,” said Muhammad Yoga Anindito, Co-Founder and CEO of Semaai.

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

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