As businesses grapple with increased automation, entrepreneurs need to step up their game in order to engage with their customers in personalised ways. With an unpredictable market and ever-changing purchasing behaviour, it is critical for businesses to gain renewed insights about their customers. This enables businesses to adjust and adapt their products and services to meet market demands and retain customer loyalty. 

Aptly named “Retention Playbook Vietnam: Mapping Personalised Customer Journeys”, the upcoming Big Leap Roadshow is focused on sharing the best practices by regional growth leaders on how to retain and grow their customer base. 

The event is taking place on 22nd February 2023 in Ho Chi Minh City, Vietnam, following the spectacular successes of the Big Leap Roadshow in Singapore, Indonesia, and Malaysia. The Big Leap Roadshow is a collaborative project between e27 and CleverTap, a SaaS-based customer lifecycle management and mobile marketing company headquartered in Mountain View, California.

CleverTap is leading the charge for personalised customer journey

As the world’s number 1 Retention Cloud trusted by 2000 customers, CleverTap is leading the charge to help businesses improve their approach to customer retention. In their years of experience, CleverTap believes that understanding the role of personalised customer journeys is an essential aspect for businesses to remain competitive, and one of the best ways to achieve this is by mapping the customer journey.

Customer journey mapping allows companies to gain insight into their customer’s needs and preferences, enabling them to create tailored experiences at different touch points along the journey. Moreover, it helps businesses better understand how their products or services are being used by customers so that they can optimise their product development and marketing efforts. 

Also read: Explore the global market with JETRO x Techstars Startup City Acceleration Program

Creating a customer journey map involves gathering data from multiple sources including surveys, interviews with customers and industry experts, as well as analysing existing analytics tools such as website traffic metrics or social media engagement. The data is then used to identify key touchpoints along the customer’s decision-making process from the initial stage of need recognition until the completion of their purchasing process.

With our increasingly digital shopping experience (from seeing ads on social media to online shopping) companies have better access to customer behaviour data that they can synthesise into valuable insights. These insights are invaluable to developing strategies that will drive conversions at each step, and to perfect the user experience through all stages of the cycle. 

Strategies to approach personalised customer journey mapping

In order to create valuable optimised customer journeys, entrepreneurs must explore and experiment with different business strategies. For starters, businesses must exercise a high level of orchestration across their business functions combined with critical data analytics and creative problem-solving skills. These things can be achieved through comprehensive market research to assess broad customer insights and industry trends across multiple channels. This will ensure higher success rates for businesses, enhance customer engagement, boost sales figures, and encourage them to return and seek out the same products and services.

Also read: UNL: Driving business success with new-generation micro-location mapping

In a nutshell, an ideal customer journey mapping should provide information about customers’ needs, potential pain points and motivators, experience at each touchpoint, customer feedback, and possible improvements and solutions.

Customer journey mapping success stories in the world and in Vietnam

There are a slew of benefits that come with personalised customer journeys, enabling businesses to create more meaningful connections with their target audience and offer greater customer values than generic experiences. As such, leading global companies have been quick to embrace the practices.

For example, Amazon Prime’s one-click shopping option has revolutionised how people shop online due to its convenience and thorough understanding of the customer’s shopping habits, preferences, and desires. Another example is Grab’s loyalty program which proposes discounts on rides based on user behaviour patterns over time, optimising customers’ lifetime values and bolstering customer delight.

In Vietnam, VNTrip, whose leader is one of the keynote speakers at the forthcoming Retention Playbook Vietnam panel discussion, also boasts of using personalised customer journey mapping and offering a unique customer experience that allows the company to thrive. Specifically, by understanding the different stages customers go through when interacting with their brand, VNTrip tailors their products and services based on individual needs, making them feel valued and understood, and improving business efficiency by removing unnecessary touchpoints.

Also read: Data streaming in real-time made possible with Aiven’s Apache KafkaⓇ

With much hype towards personalised customer journey and its lucrative applications in real businesses, CleverTap’s Big Leap Roadshow in Ho Chi Minh City is poised to provide businesses with beneficial resources for building valuable, long-term relationships with your customers in today’s competitive market as growth leaders open up and share their best practices on creating personalised customer journeys. 

Learn from industry experts across various sectors about how they have created magnetic experiences to grow customer retention, increase lifetime value, and go from good to great.

To sign up for the event, click here.

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This article is produced by the e27 team, sponsored by CleverTap

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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Singapore-based H3 Dynamics is no longer a simple startup; it has grown to become a “mini-conglomerate” with four emerging standalone businesses, each run by independent leadership.

Since winning Echelon 2019, the aerial mobility company has raised significant investments, expanded into multiple geographies, and partnered with many MNCs. It also has contributed to tackling climate change by developing energy loss identification solutions in high-rise buildings, replacing diesel generators used on boom lift equipment with scanner drones, and developing zero-emission hydrogen propulsion solutions/hydrogen power generators.

H3 Dynamics has grant plans to take the company to the next level. We spoke with its Founder and Group CEO, Taras Wankewycz, to learn about these plans.

Excerpts:

You raised US$26M in a Series B investment round in November 2021. How have you grown since this round? Did you add any new clients/products to your portfolio?

In November 2021, we completed the rolling-close financing round of US$26 million [from investors, including Japan’s SPARX Mirai Creation Fund (lead), EDBI, Capital Management Group, and French strategic investors ATEQ] that began in 2018. So, we have been investing capital gradually and much earlier and growing step by step.

Our software team in Singapore has tripled in size, and our AI-enabled building maintenance digitisation tool was launched in 2019, growing revenue 100 per cent every year since then.

Also Read: H3 Dynamics closes US$26M Series B to introduce long-range hydrogen-air logistics solutions

H3 Dynamics has acquired over 50 regional and global scale clients in the real estate sector, becoming a market leader in Asia with over 4,000 high-rise buildings already processed.

We also built a dedicated robotics tech team. In 2022, it launched a charging station for remote drone operations, with our first shipments completed to Europe, the US, and Australia.

Besides, we also globalised our operations with our aerial power system R&D in the US and Europe.

What started as company business units are now becoming companies with their own leadership teams, clients, and product lines, developing independently under one Singapore holding structure.

All in all, H3 Dynamics is currently looking like a mini-conglomerate.

Please tell us more about the four different business units.

Our Singapore-based real estate maintenance management software business, H3 Zoom, targets facilities management companies, repair contractors, civil engineering firms, inspection firms, building owners, developers and insurance companies.

We also have a robotics company in the city-state that works on drone automation stations addressing energy utilities, solar farms, mining, oil and gas, agriculture and critical site security.

Our US-based small hydrogen power and refuelling systems company targets unmanned aircraft manufacturers in the civilian and defence sectors.

At the same time, our France-based larger-scale hydrogen propulsion and infrastructure company addresses aircraft OEMs, airports, and MRO companies.

You are into a capital-intensive business. Do you plan to raise Series B-plus/pre-Series C round soon? Is it challenging to raise capital for a growth-stage company like H3 Dynamics?

It has been challenging. We are in a deeptech B2B sector bringing solutions that apply pioneering technologies. In the past few years, we had to compete for capital with fast-growing coffee shop chains, online clothing retail ventures, and crypto ventures.

Unfortunately, investors in our region tend to stay away from growth-stage high-tech engineering and science-based companies, which present different revenue timelines and growth profiles. Such companies need patient investors that value hard innovation. So we have focused our fundraising abroad (in Japan, Europe, and the US) with no choice but to expand out of Singapore.

We are now closing a Series B extension round at the holding/group level and preparing to start raising capital at our subsidiary-level companies in the coming weeks.

You partnered with Thales for a real-time autonomous drone flight monitoring system in January 2021. How has this partnership played out? Do you expect to announce more such big partnerships moving forward?

We are working closely with Thales in Europe right now. We use a former military airfield near Paris they manage for our flight tests.

The goal is to keep progressing the airspace integration topic using cybersecurity solutions that can be trusted by civil aviation authorities globally, where Thales has been leading the market for decades already.

This being said, we have partnered with many other companies across different industries and geographies. Unfortunately, we cannot reveal all of them due to confidentiality agreements.

Also Read: FROGS wants to become the first startup in SEA to fly passenger drones

In recent months, we announced technology partnerships in the liquid hydrogen space (primarily in the waste-to-hydrogen space).

In the robotics domain, we partnered mostly with resellers abroad, and we are just about to reveal a cornerstone partnership in the software space.

Are there any new products in the development stage?

We are developing new products, focusing on sustainability and reducing carbon emissions.

Buildings generate slightly more CO2 émissions than all the transport/mobility combined. So we now have applied our AI and thermal imaging technologies to find energy losses in buildings, especially those that use air conditioning.

On the hardware side, we scaled up our capability from powering drones to powering planes. We just confirmed government funding in France to develop the first hydrogen propulsor nacelle system.

H3 Dynamics is also in the process of developing new zero-emission alternatives to diesel or kerosene power generators.

How has the company been growing in the downturn? What has been the impact of the current recession on your business?

Luckily, our product lines target productivity improvements, energy savings in sectors looking to reduce operating costs, and sustainability solutions that are top of mind for our clients.

Aviation is a booming industry post-COVID-19, and thus we see a lot of demand in our target markets. The only challenge is financing for growth, so we must be cautious. We are still heavily reliant on external capital to continue our development.

Do you plan to take your products to more geographies?

H3 Dynamics has been developing the Japanese market for the past two years and hope to open local operations there now that local clients and resellers are activated. We have a growing base of Japanese investors, and Japan is one of our key target markets in the APAC region. Some big announcements are planned in March on this topic.

Otherwise, we have grown our European and US client base; we expect to ramp up in Australia in the coming 18 months.

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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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As someone who has built a business with big influence on my own cultural roots as an Australian-born Chinese entrepreneur, I can tell you firsthand that embracing heritage is one of the most effective ways to set your company apart from the competition.

You might be thinking, “What does culture have to do with business?” or “I don’t want to alienate potential customers by focusing too much on my background.” But I’m here to tell you that these concerns are misguided. In fact, I believe that cultural differentiation is one of the keys to long-term success in the business world.

Define your culture from day one

So, why is culture so important? For one thing, it’s what makes your company unique. No matter what industry you’re in, there are likely to be dozens (if not hundreds) of other businesses that are offering similar products or services. But by infusing your company with the values and traditions of your cultural heritage, you create a brand identity that is truly one-of-a-kind.

Momoguro, an upcoming Web3 project by 9x Emmy-winner Baobab Studios, was founded by Maureen Fan, Nico Casavecchia and Martín Allais, coming from Asian, Argentinian and Venezuelan backgrounds, respectively.

And they have used their diverse cultural roots to create designs that are truly unique in their captivating blend of colors, flavors and dialects. Their work often incorporates traditional patterns and designs from their home countries, but they also use modern technology and cutting-edge design techniques to create work that is ahead of the curve.

The team has brought onboard an experienced group of Web3 and game developers, including game designers who have worked on some of the biggest titles in the industry, such as Marvel, Disney, and Pokémon.

Also Read: The role of niche communities in driving startup success

This diverse and talented group brings a range of experiences and perspectives that are being leveraged to create an innovative and exciting digital collectible storytelling RPG. With a team that brings together expertise from different industries and games, Momoguro is setting itself up for success, creating a culture that is driven by excellence, innovation, and sustainability.

Achieve competitive differentiation

If you’re a restaurant owner, there are likely dozens of other restaurants in your city that serve the same type of cuisine as you do. So how do you stand out from the crowd?

By emphasising the unique flavors and cooking techniques that are specific to your culture. This not only sets you apart from your competitors but it also creates a sense of authenticity and depth that customers will be drawn to.

START Inc. was founded by native-Japanese, Philippines-based entrepreneur KOUSEI. He’s used his knowledge of these cultures and languages to create a platform that is accessible to a wider range of people.

By offering multilingual support and creating a user experience that is tailored to the needs of non-native English speakers, START Inc has been able to reach a market that is often overlooked by other NFT platforms.

And it’s not just me saying this: START Inc. has already gained over 20,000 loyal followers in the NFT space across the Chinese, Japanese and Filipino community.

The project has already partnered with several high-profile artists and has recently launched their 2nd collection, CryptoNinja World, which sold out in less than 6 hours. The founding team has leveraged their diverse cultural roots to create a platform that is truly inclusive, and that has the potential to carve out a defensible piece of the wider ecosystem.

Align your values internally and externally

But cultural differentiation isn’t just about marketing. It’s also about creating a company culture that reflects your values and beliefs. As a leader, you have the opportunity to shape the way that your employees work together and interact with customers. By prioritising the values that are important to your cultural background (such as respect, hospitality, or hard work), you can create a workplace that is both productive and fulfilling.

Also Read: How great leaders embrace uncertainty and ambiguity

Supernormal Zipcy is a digital art project that is focused on creating beautiful and immersive artwork that reflects the values and beliefs of its creators. And what’s really impressive is that this project has been able to create a strong culture that is centered around these values. The founder Andrew Choi, and the wider team is committed to excellence, innovation, and collaboration, and this has allowed them to create artwork that is truly unique.

The numbers speak for themselves. Supernormal Zipcy has already sold over 10,000 NFTs, and it has generated more than US$40 million in sales. And the project has gained recognition from some of the top players in the industry, including Forbes, which named Supernormal Zipcy as one of the “Top 10 NFT Artists to Watch” in 2021. These creators have leveraged their cultural background to create a project that is a market differentiator and is already gaining recognition beyond Web3 into the beauty and luxury industry.

Creating loyalty with less

And let’s not forget about the financial benefits of cultural differentiation. By focusing on a specific niche that is related to your cultural heritage, you can tap into a market that might otherwise be overlooked.

For example, Uniqlo’s success can be attributed to its ability to leverage its roots in creating clothing that is functional, timeless, and versatile. By combining Japanese aesthetics with modern technology and innovation, they’ve built a loyal following around the world.

Of course, embracing your cultural roots isn’t always easy. It can be difficult to balance your heritage with the demands of the business world. Believe that this is a challenge that is worth taking on. By being true to yourself and your cultural background, entrepreneurs will be able to build a business that is not only successful, but also meaningful and fulfilling.

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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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Silicon Valley-based VC firm 500 Global has announced the appointments of Saemin Ahn, Shahril Ibrahim, and Martin Cu as Partners in Southeast Asia.

The trio will lead 500 Global’s growth initiatives across the region, supporting and nurturing startups at every stage of their growth.

Also Read: StoreHub secures US$13.5M pre-Series B in a 500 Global-led round

Over the past decade, 500 Global has backed over 340 companies across Southeast Asia. Its portfolio companies include Grab, Bukalapak, Carsome, Carousell, FinAccel, and eFishery.

Ahn has a decade of experience in growth investing. He was the Founding Managing Partner at Rakuten Ventures, leading investments in over 25 technology companies, including GoTo Group, Carousell, Epic, and Coda Payments. He previously held management roles at Google in Korea and Singapore.

Ibrahim was Director of Investments and Head of Khazanah Americas, a sovereign wealth fund of Malaysia. He established Khazanah Nasional’s presence in the US, deploying investments in enterprise technology and deep technology, focusing on AI, ML, and robotics. He was also a board member at global fusion energy company General Fusion and on the advisory committee of growth equity VC firm March Capital.

Cu was previously the Philippines Country Head of Ninja Van. He grew the Ninja Van team in the Philippines from 0 to over 5,000 employees and built a nationwide network serving 97 per cent of the country.

“Saemin, Shahril and Martin add significant investment and operational expertise to support the growth ambitions of our entrepreneurs across Southeast Asia,” said Vishal Harnal, Managing Partner at 500 Global. “We will continue to add top talent and winning skill sets to our team in this strategically important region and build on our track record of success.”

500 Global is a venture capital firm with US$2.7 billion in assets under management. It focuses on markets where technology, innovation, and capital can unlock long-term value and drive economic growth.

Also Read: Singapore neobank IN Financial Technology acquires 500 Global-backed MyCash

The VC firm has backed over 5,000 founders representing over 2,700 companies operating in 81 countries. It has invested in 49 companies valued at over US$1 billion and 150+ companies valued at over US$100 million (including private, public, and exited companies).

Its 180+ team members are located in 27 countries and bring experience as entrepreneurs, investors, and operators from some of the world’s leading technology companies.

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

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With so many cloud communication platforms on the market, it can be daunting to know which is the right one for you. Fortunately, I came up with this buying guide that will help you understand the key features and functionalities of a platform, so you can make an informed decision.

Before I get into that, let us take a minute to define what a cloud communication platform is and why it is essential for your business.

What is a cloud communications platform?

A cloud communications platform is an integrated suite of software that makes it easy and efficient for businesses to communicate via:

• Voice and video calls
• Instant messaging/chat rooms
• Document sharing
• Conference calling
• Collaboration
• Other business-essential functions

It provides a cost-effective solution by allowing businesses to pay only for the computing or storage power they require rather than for more than needed.

More importantly, it is a phone system that uses voice-over-internet-protocol (VoIP) technology to make and receive calls over the internet. It allows users to communicate without the need for physical phones or other hardware, making it an ideal solution for businesses, especially those with a distributed workforce.

By using cloud technology, the software-as-a-service (SaaS) solution is a secure and reliable way for businesses to communicate with their customers, partners, and employees.

What it means for your company

In recent times, the growth of e-commerce, the shift to remote and hybrid work, automation, and the usage of artificial intelligence (AI) have surged globally.

Digital transformation is profoundly changing the way businesses operate. Companies of all sizes, from small to large, are now adopting digital tools to improve employee workflow and efficiency. As technology advances, employers and employees are beginning to realise the importance of making some work easier with technology and streamlining processes through digital technologies and platforms.

Also Read: Why venture capital is going big with cloud mining

Hybrid flexibility is an increasingly popular concept, particularly in the realm of cloud communications. By combining the convenience of a cloud-based platform with the advantages of traditional systems, it is easy to see why this type of flexibility has become so desirable.

Which is right for you?

When you shift your business model to cloud-based communication tools, you must carefully select a communication stack that best suits your needs.

Cloud computing allows users to access communication services without needing to install and maintain hardware or software. It provides enhanced flexibility and scalability, making it an ideal solution for companies that need reliable and efficient communication solutions.

It can be tricky to make sense of popular cloud communication models with acronyms such as CPaaS and UCaaS.

Let me explain the differences between these two types of cloud communication stacks and how they can benefit your business.

CPaaS, or Communications Platform as a Service, is a cloud-based platform allowing companies to seamlessly incorporate communication features into their existing applications.

By utilising modules and APIs, CPaaS enables developers to create custom solutions that expand and evolve the capabilities of an application in real-time without having to create new back-end infrastructure.

Main communication channels:

• VoIP calling
• Text messaging
• Conference calls
• Social media messaging

UCaaS, or Unified Communications as a Service, is an all-encompassing collaboration tool that allows teams to communicate with one another and their customers quickly, regardless of location.

It gives users access to team messaging, video conferencing, and cloud phone features within a single cloud-based platform, eliminating the need for additional infrastructure investments or complex setup processes. All that is necessary is internet access.

Main communication channels:

• VoIP calling
• Text messaging
• Video conferencing
• Team chat messaging
• Social media messaging
• Email

Key features to look out for in a cloud communication platform

If your organisation is looking for a new way to communicate, it is substantial to consider the choices available. UCaaS and CPaaS are both options that can be tailored to specific business needs.

UCaaS provides businesses with an overhauled communications solution without having to build their integrations, while CPaaS will allow companies to keep their existing workflow but integrate proprietary features. Those with security or scalability needs should favor CPaaS, if not, today’s UCaaS solutions offer a great deal of customisation.

Let us explore some of the features of a UCaaS platform:

Scalability potential and connect services

Unified communications (UC) is a way for enterprises to manage their remote communication needs. By deploying a UC platform, organisations can connect internal and external teams with access to popular messaging channels like SMS, email, Messenger, Line, and WhatsApp.

Also Read: How can businesses improve their operating margin by controlling cloud costs

Furthermore, UCs can switch between PSTN and VoIP networks as well as from voice calls to chats quickly and easily, allowing staff members to use voice, chat, video, and conferencing capabilities in one unified system.

Security and compliance features

Customers and businesses need to feel confident that their data is secure when stored and shared within a cloud communication platform. Be sure the platform you select offers security features such as encryption, data backup and recovery, and data protection systems.

Also, for those in industries with strict regulatory compliance requirements, a solution that can meet global compliance standards, including GDPR, is vital.

Customer support

Customer support solutions are essential for efficient customer service. Cast around a platform that includes reporting and analytics tools, allowing you to get an overview of your team’s performance.

You should also look for features such as live chat, virtual call centers, voice mail, caller ID, and automated responses. These features will help you increase customer satisfaction, reduce wait times and improve communication between your team and customers.

Advanced call center features

Many cloud communication platforms come with advanced call center features such as call routing, click-to-call capabilities, VoIP integration, detailed analytics reporting, and more.

Explore a platform with just the right amount of features to suit your specific business needs. These features should help easily manage and monitor customer service calls, track volume in real-time, and store all necessary customer data securely.

Ease of use and cost-efficient

A platform that is efficient, cost-effective, and user-friendly can help your team get the job done faster with no downtime. You can use multiple tools in one place, making it easier to manage and save costs by not constantly switching applications.

Setting it up is hassle-free as it doesn’t require an IT team or complex coding – you could be up and running in minutes.

Choose the best cloud communication platform for your business

Deciding the best mobile cloud communication platform for your business should involve more than just list-checking the features you need.

Also Read: How to migrate your small business to the cloud

You should also consider the three following factors to select the most suitable platform for your company.

Carrier-grade performance and reliability

Carrier-grade reliability is a measure of:

• Dependability
• Performance
• Redundancy
• Availability of telecommunications networks or infrastructure

It is used for applications or networks which require high levels of uptime and security. To ensure the network remains available, carrier-grade components are necessary.

These include PSTN, VoIP, Ethernet networks, as well as carrier-grade hardware. With carrier-grade reliability, you can be sure that your communication systems will perform at an optimal level with minimal disruptions.

Seek out services that assure an annual uptime of 99.95%, with real-time service delivery, monitoring, and support 24 hours a day, 365 days a year.

Combines digital and telecom channels

To maximise business transformation, cloud communication platforms should prioritise customer engagement through their chosen channels. That doesn’t have to just be digital — research shows consumers still appreciate being contacted via telephone or receiving SMS offers.

Therefore, the ideal cloud communications platform should not just connect traditional telephony and digital channels but also effectively transition between them — for example, from an offline conversation to an online chat or call.

Support a team member anytime

In situations when a single staff member is unable to adequately handle a customer enquiry, they have the option of adding in expert help. This could be their boss, a colleague, or someone else who is more knowledgeable about the matter.

Additionally, this individual can take over the conversation if needed. Jumping on calls is an excellent way for customers to get the best service possible. Doing so also allows for a better quality of service and resolution of customer queries.

So, explore platform features that include the capability for users to join an ongoing interaction or take over a chat, voice call, or video call.

Cloud communication – The path forward

Digitisation is ushering in a new era of remote and hybrid work, leading to the emergence of an innovative cloud culture. With digital solutions becoming steadily popular, companies are now able to conduct their operations from anywhere and at any time. This has opened up the possibility for workers to move away from traditional office structures and embrace a more fluid cloud culture with unlimited potential.

Cloud communication is an essential tool for organisations to stay connected with their employees, customers, and investors in this ever-evolving business landscape. It enables them to build intuitive relationships without worrying about physical proximity, technology, or any other factors. With the help of cloud communication, businesses can stay connected no matter where they are.

A cloud communication platform is a service that allows businesses to facilitate cross-team collaboration and customer engagement. By having the right cloud solution, businesses can take advantage of increased efficiency and improved customer satisfaction.

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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 Pro

The post Cloud communication platforms: How to choose one for your business appeared first on e27.

Solo-GP VC funds are gaining traction across the US, and Southeast Asia will also see the emergence of such funds, according to Wing Vasiksiri, Founder of WV Fund II, solo-GP VC firm focusing on the region.

A Solo-GP VC fund is a fund with one General Partner who is also the lone member of the investment committee.

“This model is new to Southeast Asia but has taken off in the US; for example, Elad Gil, Lachy Groom, and Josh Buckley,” Vasiksiri, who earlier founded iSeed SEA, said in an interview with e27. “Like in India, we will start to see more of this [Solo-GP fund] emerge in the region.”

Funds like Kettleborough VC, Better Capital, and Streamlined Ventures emerged in India recently. As per another report, a new wave of solo GP VCs is also coming to Europe.

Also Read: iSeed SEA launches micro-fund targeting Indonesia, Vietnam, Thailand

According to Vasiksiri, the new model has certain advantages, including empathy for founders, speed and transparency, and elimination of the principal-agent problem.

“I am also a founder, although I started a fund instead of a company. I have to think through the same things every founder does: what is my competitive advantage, and how do I hire, scale, market, and brand my company? This gives me high empathy for the entrepreneurial journey,” he said.

Moreover, there is only one decision-maker, meaning the sole General Partner can drastically reduce time in the decision-making process. The solo partner can commit to a round within days or hours if needed and can make decisions quickly, which is greatly appreciated by founders. Every founder also has a direct relationship with the General Partner.

“Eliminating the principal agent is one of the biggest problems in any institution where employers and employees don’t always have aligned incentives. For solo GPs, the brand of the fund equals the brand of the individual, and everything I do reflects on the fund and vice versa,” he added.

However, the model also has some disadvantages, one being it can be challenging to scale as you have more relationships and have to manage time well.

To a question about the difference between an angel investor and a solo-GP fund, he said that an angel investor institutionalises his/her investing and raises outside capital. Most of the time, he/she is not a full-time investor but has another job. “An angel fund can be a solo GP fund if there is only one GP and decision maker.”

Also Read: “To heavily rely on AI for your decision making process in venture investment would be a stretch”

Launched recently, WV Fund II is a seed-stage, sector-agnostic fund investing in founders across Southeast Asia. His first fund, iSeed SEA, was also a solo GP fund, and it is fully deployed.

WV Fund II and iSeed SE have US$14 million in assets under management. The former has invested in ten companies, including mio and Delos Aqua, Upmesh, Haulio, Pina, Mohjo, and Farmacare.

The fund will continue investing across the region by partnering with top founders in my core markets (Singapore, Indonesia, and Vietnam) and secondary markets (Thailand, Philippines, and Malaysia).

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The post We’ll start to see more solo-GP VCs emerge in SEA: Wing Vasiksiri of WV Fund II appeared first on e27.

What makes the soonicorns special?

As reported by Channel News Asia, despite challenges here and there, leading tech companies in Indonesia and the rest of the Southeast Asian (SEA) region continued to raise funding, with more companies inching closer towards securing a unicorn status –proudly claiming the label ‘soonicorn‘.

As these companies closing in to the much-coveted unicorn status, we realise that there might be more that is at stake. Starting with the investments that have been trusted in them, we can see how these companies face pressure to build a sustainable business and provide a healthy return to their investors. The public–users and customers of these companies’ products and services–also have a heightened expectations of them to deliver their promises.

But this does not mean all is gloom and doom for soonicorns. There are plenty of opportunities that they can seize. For example, the experiences of previous generation unicorns provide unique lessons for soonicorns; the ability to learn without having to go through the hardest parts.

Soonicorns have the opportunity to do it differently. As an ecosystem, we can help them get there.

Also Read: e27’s TOP100 programme returns to bring Asia’s best startups to Echelon 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 notable soonicorns of SEA to share their stories with the hope that it can be a lesson for fellow soonicorns and those who are looking forward to follow their footsteps. We will look at lessons in growing and scaling their businesses, mergers and acquisitions, and even the use of emerging technologies such as blockchain.

We are also looking forward to hear from different parties in the SEA startup ecosystem that have played a role in the building of a soonicorn, from venture capital firms who have invested in them to corporates who have partnered with them. We believe that every voice is valuable as we are building a SEA tech startup ecosystem that is more sustainable and impactful.

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.

 

The post Wanted: SEA soonicorns, future change-makers to share their stories at Echelon Asia Summit 2023 appeared first on e27.

Starting and leading a successful company is an ambitious journey that can lead to remarkable success. As you get closer to the finish line, your company may attract interest from potential buyers who see value in what you’ve created. 

Whether it’s a full 100 per cent or majority stake sales, undertaking due diligence of the deal and understanding key considerations are important determinants of a successful merger and acquisition (M&A) transaction, and to ensure that each of their best interests is prioritised. 

The key terms in an M&A deal

When it comes to executing a successful M&A deal, there are many things to consider. 

Firstly, valuation is typically the easiest thing to agree upon. It should be agreed upon between the buyer and seller early on in the process. 

Rather than narrowing our focus on valuation, one should determine the ultimate cash consideration that will enter your pocket and the possible risk of liabilities post-closing. 

It is essential to draft commercial terms that are both beneficial and fair for both parties. Other than that, the liabilities of the company must be taken into account, as well as any warranties or guarantees that the founder is providing with the sale. With careful consideration of these factors, founders can have peace of mind knowing they are entering a fruitful transaction.

Also Read: Exit Strategies: Ways to get your money back besides IPOs and M&A

What to expect during the due diligence process

Understanding what to expect during the due diligence process is essential when a founder is looking to exit their company through M&A. The due diligence process involves financial, tax, operational, commercial, and legal aspects of the business, which will be closely assessed. 

After signing a non-disclosure agreement with the potential acquirer, financial statements and other financial documents should be prepared or used to verify financial history and status. It is also important to review tax returns in order to determine any issues that might arise. 

Moreover, potential buyers will examine all aspects of the business operations closely and review any associated contracts or documents. If there are any findings that could be less ideal, sellers could request further guarantees from sellers through representations and warranties. This part of the process can take several weeks or even months, depending on how detailed it needs to be.

How to negotiate the best possible outcome for yourself and your company

When negotiating the best possible outcome when exiting your company through M&A, it is important to recognise that every situation is unique; no two are the same. That being said, some key considerations for founders to keep in mind include understanding what you want and need from the deal and anything else that might hold value, such as continued involvement with the company or payment terms. 

It is also important to evaluate counterparty offers objectively, preparing both sides for a mutually beneficial agreement and creating an organised timeline of communications and activities. As a founder, this could be a great opportunity to create success for both yourself and your company, so striving for alignment between the goals of both parties can ensure everyone walks away happy.

Prior to entering into M&A negotiations, it is critical that you are clear on your objectives and the key terms of the deal. During due diligence, be prepared to share a lot of information about your company with the potential buyer. And finally, always remember to negotiate from a position of strength to get the best possible outcome for you and your business.

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The definition of a ‘good customer experience’ today is nowhere as simple or straightforward as it was just a few decades ago (when assessing customer sentiment was carried out through a few phone surveys, for example).

The modern consumer is multifaceted and complex, reacting to a wide range of factors: economic, social, political, and beyond, and they are more demanding than ever before.

Thus, Hire Digital provides insights into the latest customer experience trends in 2023.

Why customers are changing rapidly

Accenture’s survey reveals that 95 per cent of C-level executives believe that customers are changing faster than their businesses can keep up with. They think that their digital transformation efforts are just keeping them afloat rather than driving their growth.

So, what exactly drives these consumers to change? Here are some factors that are causing rapid changes in consumer behavior:

Looming inflation and unpredictable markets 

72 per cent of consumers state that external factors like inflation are impacting them now more than before. Meanwhile, Gartner’s research reveals that more than half of consumers feel like they have less disposable income and savings this year.

Also Read: BuzzAR is building the next big thing in Metaverse Marketing

Thus, their spending behavior has not only changed in such a way that they purchased less but in finding ways to make smarter purchases. For example, half of millennials and Gen Z are using digital tools to track coupons/discounts as a means to combat inflation.

The hybrid lifestyle

COVID-19 has opened doors for digital transformation. With a lot more products and services available online, people have adapted to the hybrid lifestyle of making purchases both online and in-person. According to Prosper Insights & Analytics, 33 per cent of adults are shopping in stores less.

Social and environmental responsibility

A Harris poll revealed that more than two-thirds of Americans are now more concerned about climate change and that they expect their peers to adjust their purchasing habits accordingly. This is supported by the aforementioned Accenture research, which indicated that 72 per cent of consumers are more impacted now by external forces – climate change being one of them. 

This leads us to our second insight into company ethics.

Company ethics influences buying decisions 

CX Network reported that customer experience practitioners observed a higher level of sustainability awareness from consumers. A lot of customers now consider companies’ level of environmental sustainability and morals in their purchasing decisions. An Aflac research supports this by showing almost eight out of 10 of consumers believe companies that stay true to their ethics/values outperform others in their field.

Meanwhile, 92 per cent of millennials are more likely to buy products from ethical companies, and over four-fifths of these consumers believe ethical brands outperform similar companies that lack a commitment to ethical principles. Thus, they want organisations they engage with to not only answer their needs but also add value to the world overall.

Customers are looking for more meaningful interactions

A Conduent report revealed that customers crave more meaningful interactions with brands. Eight out of 10 respondents would likely purchase products from the same brand if they had a great customer experience on a digital channel.

Here are factors that contribute to a meaningful customer experience:

Personalisation

Personalisation has been a marketing buzzword for a reason. A Gartner study pointed that 86 per cent of B2B and 72 per cent of B2C consumers expect companies to know their information during an interaction.

Also Read: We can no longer adopt a cookie-cutter approach to marketing: Gunalan Ram of CINNOX

Thus, it’s imperative to integrate mass data available for optimal personalisation. Some organisations fail to analyse all data sources and mostly rely on customer feedback.

However, strategies for optimisation and personalisation should be taken from integrated sources of demographics, operational data, financial data, purchase history, and more to truly understand the multi-dimensional needs of consumers. This also enables an organisation’s customer experience to evolve and keep up with consumer changes.

Convenience

Gartner’s research discovered that consumers’ value for convenience has been at an all-time high over the past 12 years.

Moreover, a Hyken ACA research shows that: 

• Three-fourths of customers would pay more for a convenient experience, and would switch companies if they found out a competitor provided more convenience
• 68 per cent would return to a brand if the customer experience were convenient
• 80 per cent would likely recommend a brand or product if it provides a convenient customer experience

The banking industry poses a good example of both adding a customer-centric integration design and adhering to convenience. In the recent decade, the banks immensely transformed with the current CX trends – opening a bank account used to take a painstaking process in-person, and now you can do so online within seconds.

Omnichannel

A McKinsey study revealed that organisations intend to increase digital engagement by 1.5x in 2024, and one of the top areas for investment is improving omnichannel via tech. Omnichannel is seen to make businesses more agile.

In fact, several surveys reported that consumers already expect an omnichannel experience; it’s no longer an edge over the competition but a must-have for organisations.

Also Read: How should you engage customers in a rapidly changing market?

However, a unified omnichannel experience is something you can have the edge over your competitors. As consumers are approaching organisations across all touchpoints, companies should ensure that all channels provide a cohesive messaging and seamless experience.

AI augmentation in customer experience

Harvard Business Review discovered that a combined effort from employees and artificial intelligence (AI) enables companies to achieve significant improvements.

Likewise, Gartner states that AI augmentation enables organisations to make smarter data-driven decisions. They predict that by 2025, organisations will shift 75 per cent of their operational work from production to more strategic activities if they use AI across marketing functions.

Using AI to optimise content and journey mapping leads to better segmentation and personalisation. Customer data retrieved from AI can be used to drive more agile responses.

Gartner lists down the main impact of AI augmentation:

• Applications of AI (i.e. automation, chatbots) are set to improve KPIs of timeliness, quality, and consistency.
• Machine learning and analytics can transform metrics into operational success.
• AI management requires greater focus to upskill and empower existing talent and end-to-end consideration of diversity, equity, and inclusion.

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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 2014, Surasit Sachdev launched an online restaurant reservation system in Thailand. Hungry Hub, however, failed as there was no real need for such a platform since one could walk into a restaurant and get a table easily in the country.

Curiously enough, one thing struck Sachdev while building the first version of Hungry Hub: the team’s monthly dinner budget exceeded his expectations. As he studied this problem further, Sachdev realised he was onto something big.

“We realised that some of our employees couldn’t afford dining out because of their moderate lifestyle/pay level,” Sachdev tells e27. For restaurants, it meant less traffic. “While there were many online restaurant booking apps, they thrived on heavy discounts, an unsustainable prospect. So in 2017, we decided to give Hungry Hub another chance before quitting it and help restaurants boost their revenues.”

This was the beginning of Hungry Hub 2.0.

Hungry Hub 2.0 is a restaurant and hotel reservation platform for special occasions that also provides fixed-price offers and gourmet delivery services. The app lets diners know how much they will pay and what they will get before walking into the restaurant.

At the same time, it helps restaurants generate sustainable revenues.

Also Read: ORZON Ventures joins Thai restaurant reservation platform Hungry Hub’s Series A round

“Given the culture in Asia, there are situations where one person pays on behalf of the entire table during parties, business meetings, dating, and birthday celebrations. But they don’t know what the people at the other end of the table will order. We at Hungry Hub solve this problem for billpayers. Meanwhile, it increases restaurants’ average check-ins and drives more traffic through our over a million monthly active users,” Sachdev explains.

Initial challenges

The first few months of Hungry Hub 2.0 were hard; convincing restaurants about the benefits of partnering with Hungry Hub was an uphill task. Restaurants didn’t want to upset their apple cart.

As Hungry Hub managed to resolve this issue, comes COVID-19. The pandemic and the resulting lockdowns forced it to focus on delivery.

“Although the lockdowns impacted our table reservation business, our food delivery unit and staycations helped us recover 50-60 per cent during those difficult times. As the pandemic threat was gone, we started growing again. We recorded tremendous growth in every quarter in the past three years except for the lockdown periods,” Sachdev claims.

According to him, Hungry Hub grew 2.5x year-over-year before the pandemic, and it is 60-80 per cent y-o-y post-pandemic.

In the past six months alone, the startup’s restaurant base has grown by over 30 per cent. It claims to have seated over two million diners and sourced over US$50 million to its partners.

So far, Hungry Hub has partnered with 1,200 restaurants/hotels across Bangkok, Pattaya, Hua Hin, Koh Samui and Phuket. Its partners include top restaurants, such as Copper Buffet, Audrey Café, The Coffee Club (Minor Group) and global hotels, such as Marriott, Anantara and Banyan Tree.

All across Thailand, there are more than 20,000 restaurants. This means Hungry Hub has only scratched the surface.

“While there are several online platforms in this space, they are either focused on the reservation system or deep discounts, which is very different from what we are doing. We are the leader for special occasion dining in Bangkok,” says the CEO of Hungry Hub, which takes a commission from diners.

Also Read: ‘Not all is doom and gloom’: Experts on the potential of AI to steal jobs in SEA

Trends

In the food ordering space, markets in Southeast Asia follow similar trends. However, Thailand has a slight edge as it attracts more tourists than others in the region.

Having said that, fine dining, omakase, and experience-based dining are the current trends in Thailand. “While people used to go out to eat to fill their stomachs in the past, today, it is more about what unique experience they can get from each meal to post on their Instagram and TikTok stories/reels,” Sachdev adds.

In July last year, Hungry Hub secured an undisclosed sum in Series A funding round from investors, including ORZON Ventures. Previously, it received its pre-Series-A stage funding from ECG Venture Capital and MOVF Media Group. In 2019, the startup bagged seed money from Expara and 500 TukTuks (a fund under Thailand’s 500 Global network). .

Hungry Hub is now in the market to raise up to US$5 million to grow its business beyond Thailand.

What is your immediate goal?

“Our immediate goal is to turn profitable within the first half of this year. We are on track to achieve this,” Sachdev concludes.

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