At the core of every successful startup is a vision driven by innovative products and services and a solid business model. However, in order to enable startups to scale and access a larger market, they also need a steady flow of funds to allow them the capacity to improve technological infrastructure, expand the workforce, and embolden marketing efforts.

Sourcing money for such business ventures can be difficult given the competitive market. In Southeast Asia’s vibrant startup ecosystem alone, this proves to be even more challenging considering the volume of startups in the region’s market.

Startups need to standout. They need ample visibility that not only lets them showcase their innovative products and services, but also lets investors know that they are looking for fundraising opportunities.

Traditionally, funding opportunities can come in the form of accelerators, incubators, and venture building programmes that often transpire at physical events. But with today’s unique challenges, there is a need to create spaces where startups and investors can connect with one another digitally.

Take the first step: visibility

One of the benefits of signing up for an e27 Pro membership is our unique and exclusive Fundraising Widget featured on the e27 homepage. This feature allows companies to let investors know who they are and what they do.

From there, investors can access startup profiles on e27 and explore crucial information about each of them. From information on founding teams to funding rounds, and coupled with comprehensive company information, startups have the capability to add compelling information to catch investors’ attention for potential funding or partnerships.

Considering the unique challenges present in today’s global economy, startups stand to gain a lot from being able to put their names out there. With much of the global economy shifting to the digital sphere, startups need to be visible digitally.

The fundraising widget is only one of the many key features that come with an e27 Pro membership. By signing up for Pro, you can enjoy a slew of exciting things including access to e27’s investor database, access to relevant, curated, and actionable news and insights geared for business success through the e27 Ecosystem Roundup, and the power to get in touch with your dream investors through e27 Connect.

Staying true to its name, an e27 Pro membership means taking your company to a more professional level, all while supporting your company and the vibrant startup community that we all operate in.

Join e27 Pro

Be a part of the Pro community and sign up for an e27 Pro membership today! You may visit here for more details.

The post How e27 Pro helps startups remain in view of APAC key investors appeared first on e27.

Advance raises funding to help Filipino workforce to access salary without waiting for payday

Manila-based fintech startup Advance has secured an undisclosed sum in a seed funding round, led by American VC firm Next Billion Ventures, according to DealstreetAsia.

Also joining the round are Dymon Asia Ventures and Accion Venture Lab.

The latest round of capital will be used to improve Advance’s current technology and operations, as well as to explore different products and new markets.

Advance helps Filipino workers receive financial assistance before they receive their paycheck to avoid borrowing money for daily needs.

“We’ve heard so many horror stories of people with an urgent need for cash resorting to payday lenders due to the lack of quality options. We knew that we could provide a much safer alternative to keep them away from endless debt cycles,” Advance Co-founder and CFO Addi Guevara said.

CapBay announces partnership with TheLorry to offer financial solutions for SME lorry drivers

CapBay, a P2P supply chain financing platform, has announced a partnership with TheLorry to offer financial solutions to SME lorry drivers, according to a press statement.

Under the agreement, lorry drivers can now easily apply for collateral-free financing upfront and defer toll expenses up to 60 days later.

Also Read: News Roundup: Hello Health launches in the Philippines as Hello Doctor

This partnership also marks the launch of “The Express Financing program” which aims to increase the accessibility of digital financing solutions for financially underserved SMEs.

Zendesk’s new COO aims to accelerate the company’s growth in APAC

Zendesk has appointed Wendy Johnstone, who had previously spearheaded senior marketing and operations in Salesforce, IBM and Microsoft, as new regional COO

Johnstone will be responsible for growth acceleration in the Asia Pacific region, which accounts for more than 10 per cent of its global business, as of Q1 2020.

Johnson’s predecessor, Sandie Overtveld, has been elevated as Vice President, Strategic Enterprise Accounts for APAC and EMEA, and is now based in Europe.

Zendesk is a San Francisco-based customer service platform that develops software to foster customer relationships.

SoftBank’s Vision Fund to lay off 10 per cent of employees after historic losses

SoftBank’s Vision Fund is planning to lay off 10 per cent of its employees after posting a record operating loss of over US$12.7 billion, according to Bloomberg.

The company refused to comment on the layoff.

“It makes sense that SoftBank is cutting positions at the Vision Fund as they are in a tough situation, and they may start targeting highly paid workers to cut costs,” said Koji Hirai, Head of M&A advisory firm Kachitas Corp.

Also Read: Roundup: Jack Ma steps down from SoftBank board

Furthermore, the Vision Fund has reportedly incurred further losses as a result of the ongoing COVID-19 pandemic.

—

Image Credit: Fabian Blank

The post Roundup: Filipino startup Advance raises seed funding; SoftBank Vision Fund to cut staff appeared first on e27.

As the pandemic evolves into a full-blown recession, startups and businesses are worried about the “big bucks”.

In this webinar, we hosted industry stalwarts Paul Meyers, Coach, mentor and strategic advisor at Stealth Mode Consultancy and Co-founder of Antler, Jussi Salovaara to talk about where VC funding is headed, and the growing role of impact investing and future of investing.

In a nutshell

Meyers said that as a founder-cum-investor, this was his third major economic shakeup. But it is very different from 2008 and 2009.

The good news is that deals are still happening even if not as many as before. VCs have a lot of dry powder so funding will resume. But he also cautioned that companies will continue to fail.

He reiterated that “disruption also creates opportunity. Uber, Slack, and WhatsApp were all started during that period. Disruption creates innovation.”

Salovaara was still a banker during the last recession and he is currently in a “cautiously optimistic” mood when it comes to early-stage startups.

“We have not seen any large scale withdrawal from the market. There is a bit of shell-shock and it is more of a delaying factor, but I feel it will pick up soon. Angel investors naturally being more conservative,” he added.

Key takeaways

• The big Limited Partners in VC funds are often financial institutions and don’t have another place to allocate the funds, so rest assured that capital will not disappear. However, it will get conservative.
• Everyone has to show a COVID-19 proof business model, a cash management plan. Founders will need to be more sound about ‘how they are going to make money and when, as it will be a major question investors will be asking.
• Unit economics and path to profitability are making a big comeback in the post-COVID-19 season in SEA. So maintain solid business fundamentals.
• The IPO market will be cooler and slower in the near future. Tech startup IPOs are not so big in SEA anyway. So exits are going to be slow.
• But M&As can go up and strategic acquisitions may rise. There will also be increased consolidation in specific verticals. Bigger players who are well funded will make some but it will still be slower than normal.
• Holding on to money and being judicious with their spending is a good strategy for an early stage. Once a product-market fit is identified they can consider fundraising.

Also read: Preparing for the future in a fireside chat with Cocoon Capital founders

• Team dynamics play an important role in how a company grows. This kind of a situation puts it to test. How they bond together, work together, or not. So hang in there!
• COVID-19 is a catalyst and there are opportunities in many verticals. While medtech and e-commerce are the obvious gainers, it is also worth looking for tech-based solutions to everyday chores and activities.
• Be cautious not to step into a very popular vertical either, as it will be too crowded. The real opportunity is in less-crowded areas.
• Bear in mind that there is no such thing as a local SEA business. Since the region is so diverse, there is no local. The flip side is that you have to respect all the various markets and their needs and cultures.
• Business model innovation is critical — it doesn’t require research or scientific discovery.
• Use this time is an inflection point to pivot your career. Use this time to also learn and equip yourselves with tools to become a better entrepreneur. There has never been a better time to learn.

Words of wisdom for founders

• While VCs are tuning in to virtual meetings and Zoom pitching sessions, leave no stone unturned to get a warm introduction.
• Get creative but don’t underestimate the power of cold reach-outs. Everyone likes a nice surprise.
• It underlines that you have to have a strong pitch — mechanically and physically. Keep your pitch clear and clean.
• There is a lot of information available these days, and make the most of it. Go for walks and listen to podcasts in the ecosystem.
• A path to profitability may seem futile as numbers may not be accurate. And sometimes the founder’s assumptions may not be precise, but it matters in the longer run. Its a test of logic and helps avoid mistakes of unrealistic assumptions.
• All investors understand it means nothing when it comes to the real numbers game but it’s a good way to assess a founder.

Resources

• Meyers recommended the DocSend Pitch metric report that tracks pitch deck interest and engagement for the startup community.
• Recommended by our speakers: Audiobook version of VentureDeals
• Full video of the webinar session, in case you missed it:

Food for thought

• How effective are equity crowdfunding platforms from your experience for early-stage firms?
• Meyers was not too keen on tagging the post-pandemic life as the new normal. Do you have a better name?
• Do investors still want to see traditional startups?

Call to action

• We are hosting a Meet the VC series to get to know the investors in our ecosystem more closely. Join us for a coffee chat with LPs from Qualgro and iGlobe Partners in June.
• While funding is an important aspect, startups ought to still communicate and cultivate their customer base. VP of Customer engagement at Tokopedia will be joining us to share his tips on how to keep your customers happy in a post-pandemic world.

–

e27 Pro membership will further empower you with insights, tools, and opportunities that help you solve the problems that hold you back. Begin your company’s journey to success here.

The post Mulling over the future of investing with Paul Meyers and Jussi Salovaara appeared first on e27.

GoBear, a Singapore based fintech startup, has raised US$17 million in a funding round led by returning investors Walvis Participaties, a Dutch VC firm, and Aegon N.V., a Netherlands-based asset management company, according to a press statement.

The company said that the latest round of capital will be utilised for continued expansion across three growth pillars: An online financial supermarket, digital insurance brokerage, and digital lending, “all built on a strong foundation of alternative data”.

Following its latest acquisition of lending platform AsiaKredit, the company also has plans of expanding into other markets in Asia.

It currently has a presence in seven Asian markets including Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

Also Read: Financial products comparison firm GoBear acquires lending platform AsiaKredit to build regional reach

“Our latest fundraise is validation that our investors continue to see our potential for growth and that we’re on track to build a robust financial services platform that Asia needs,” said CEO Adrian Chng. “Built on our strong foundation of alternative data, we can better assess and price risk, co-create better products, and ultimately improve financial inclusion.”

Chng claims that GoBear’s digital insurance brokerage segment has seen a 52 per cent increase in average order value in the last three months.

The company has also registered a 50 per cent year-on-year revenue growth from loan products, it added.

Founded in 2015, GoBear was initially meant to be a metasearch engine, before making a transition into financial services. It currently has over 100 commercial partners, including banks and insurance providers, and is used by over 55 million people.

Last year, GoBear raised US$80 million from Aegon and Walvis Participaties. Since which, its revenues claims to have increased by over 100 per cent from consumer finance products.

This marks GoBear’s fifth fundraise to date.

In the past month, fintech startups in the region continued to gain investors’ attention. In April, fintech startups such as Investree, Modalku, and KoinWorks raised their later stage funding rounds despite uncertainty in the market due to a global health crisis.

–

Image Credit: GoBear

 

The post GoBear grabs US$17M in funding to accelerate its financial services across Asia appeared first on e27.

Join us in the second episode of OC27 Livestream Talkshow! It’s happening tonight, 27 May 2020 at 9:30PM SGT. Register here.

Tonight’s episode will feature cult-builders Janice Wong and Indra Kantono as they talk about how they built their brands to capture an avid following, as well as strategies they have taken as their businesses fight for survival during lockdown.

Janice Wong is the Founder of Singapore favourite 2am:Dessertbar, the Janice Wong brand, and a three-time World Gourmet Summit Awards Pastry Chef of the Year.

Indra Kantono is the Co-Founder of Jigger Pony Group, the winner of Asia’s Best Bar 2020.

OC27 is a joint project of e27 and Open Circles, a community of global leaders: visionary entrepreneurs, social innovators, investors, and creative pioneers. The Open Circles community has a common goal of mobiliSing action and solving global problems.

Each episode is in support of a chosen charity. Grab a virtual post-dinner drink with us and support the “6000 at-risk elderly fund” by Lion Befrienders, to provide essential items, customiSed programmes, and activities to the isolated elderly in Singapore during COVID-19.

By participating in the web talk show, you will not only be learning from the best and the brightest veterans in the business today, but you will also be contributing valuable help to a worthy cause. Sign up here to save your slot.

The post OC27 presents “Setting the Bar: The Pandemic Pivot”
 appeared first on e27.

Mobile-based marketplace Carousell launches property platform in Hong Kong

Singapore-based mobile marketplace Carousell announced that it has launched a property listing platform Carousell Property in Hong Kong, partnering one of the city’s biggest realtors Midland Realty. According to a report by Forbes, it aims to provide listings of local and overseas residential and industrial properties for sale and rent through its Carousell mobile application.

Carousell Property offers services such as Home Services that include home repairs, moving, renovation; Home & Furniture that include furniture and gardening, and Kitchen and Appliances; as well as a chatroom to connect to merchants directly.

Carousell also partners with moving company Going Moving and coworking company Metro Workshop for its property platform.

Fund management firm Helicap Investment appoints Aura Group to sub-manage fund

Helicap Investments, a fund management company in Singapore, has appointed fellow fund management company Aura Group as a sub-manager to a fund that it manages. Aura itself is a Registered Fund Management Company in Singapore.

HIPL utilises the proprietary credit analysis technology of its parent company, Helicap Pte Ltd (Helicap), to assess and have an understanding of the alternative lending sector. The alternative lending sector provides a low correlation to other traditional asset classes to investors and promotes access to sustainable debt financing for underbanked and unbanked borrowers in the region.

Also Read: Singapore-based lending platform Helicap raises US$5M to go to Indonesia

With the partnership, Aura will draw on its expertise in the credit sector in both Singapore and Australia.

India-based fintech startup HomeCapital receives seed funding from Varanium NexGen, others

Mumbai-operated fintech startup HomeCapital has secured seed funding from Varanium NexGen Fund.

Venture Catalysts, JITO Incubation and Innovation Foundation, Singapore Angel Network, Venture Gurukool, and Shalin Shah also participated in the funding round.

According to a report by Money Control, the company said it plans to expand its operations and scale up the technology infrastructure with the new funding.

HomeCapital focusses on helping millennial homebuyers in getting a half of the initial cost of their down payment at zero interest. The loan then can be repaid over the next one to two years.

Ziliqa launches social media initiatives to support Red Cross’s COVID-19 relief efforts

Singapore crypto startup Zilliqa has launched a social media initiative as a way of giving back to the local community and to support Singapore Red Cross’s COVID-19 relief efforts islandwide.

Using Twitter, Zilliqa will be rewarding users who tweet about its #ZILCovidHeroes campaign with 25 $ZIL, the platform’s native cryptocurrency. For every 25 $ZIL sent to a user, Zilliqa will match this amount with a donation to the Singapore Red Cross.

Users will also be able to donate directly to Singapore Red Cross in Singapore dollars, with local residents and corporates eligible for a 2.5 per cent tax deduction. The campaign will be running from Tuesday, May 26 to Thursday, May 28 at 8PM SGT.

Also Read: Fintech platform Xfers pilots Ziliqa-powered stablecoin StraitsX, to build a transparent ecosystem

As part of the campaign, Zilliqa is also working with NextID, a Singapore-based, worldwide blockchain-powered certificate issuance service that allows users to send a personalised Certificate of Appreciation to their own COVID hero. This certificate will be permanently stored and secured on blockchain and leverages the Singapore Government’s OpenCerts format for Verifiable Credentials.

–

Image Credit: Carousell

The post News Roundup: Carousell launches millennial-targeted property platform in Hong Kong appeared first on e27.

Adjust: E-commerce apps are beginning to recover from global health crisis

Adjust, a  global app marketing platform, has released a new report that shows that e-commerce apps are beginning to recover since early April, with installs and in-app sessions growing.

In comparison to March, 43 per cent of users have already returned to their favourite e-commerce apps, with paid apps increasing in installs from March to April.

Despite the e-commerce industry being shellshocked by the global health crisis, according to the data, e-commerce companies have a high chance of returning back to normal.

Also Read: GoBear grabs US$17M in funding to accelerate its financial services across Asia

“The reason is that many consumers expect behavioural changes in others and less in themselves. They criticise someone flying halfway around the world just to attend a business meeting but are already anticipating taking a flight for their next vacation. So, we can probably expect quite a high degree of bounce-back in terms of consumer behaviour,” commented Sven Arn, CEO of Happy Thinking People.

India’s Ola acquires Dutch startup Etergo to launch an electric two-wheeler

Ride-hailing company based in India, Ola, has announced the acquisition of Amsterdam-based startup Etergo to launch a premium two-wheeler electric vehicle in 2021, according to YourStory.

Through the acquisition, the startup is betting on a cleaner and more efficient solution for urban mobility post-COVID-19.

“Ola Electric aims to launch its global electric two-wheeler in India in 2021. This acquisition will further bolster Ola Electric’s strong engineering and design capabilities with the Etergo team’s extensive vehicle development experience with leading automotive companies like Tesla, General Motors, Ferrari, Jaguar, and BMW. Etergo’s team will continue to be based out of Amsterdam as they join Ola Electric,” the company wrote in the statement.

–

Image Credit: Unsplash

 

 

 

The post News Roundup: E-commerce apps are beginning to recover from global health crisis appeared first on e27.

Singapore-based AI-empowered data platform Sentient.io has received a Series A funding led by Japanese digital media Digital Garage Group, together with a corporate VC firm of TV station Asahi Broadcasting Group Holdings Corporation, ABC Dream Ventures.

Joining the round are deep tech accelerator Leave a Nest Group.

The company said it intends to use the new fund to scale the platform to the global market, especially to fulfil the surging demand for the Digital Transformation from Japanese corporations.

Also Read: Here are the top startups in the Singapore AI scene, plus some observations from an investor perspective

Sentient.io offers a built AI and Data Platform which seeks to empower software developers to pick from its pre-trained AI microservices that can help them to create smart applications which are powered by AI and for big data owners, like telcos, manufacturers, government, and mass media companies to generate the new values from their data asset.

Christopher Yeo, Founder and CEO of Sentient.io, said: “Sentient.io will continue to raise funds from the international financial markets to enable us to expand our talent in research, sales, and engineering with a strategic focus on developing businesses in the Urban Living, Digital Economy, and Next Generation Wellness industries as an AI service provider.”

Yeo also added that the company plans to expand into Indonesia and the U.S.

Sentient.io is backed by the national technology research institution in Singapore, A*STAR and the global technology venture capital, BEENEXT.

To-date, the Company has raised more than US$5 million investment since its inception in May 2017.
–

Picture Credit: Unsplash.com/@shanerounce

The post AI-empowered data platform Sentient.io secures Series A funding led by Digital Garage Group appeared first on e27.

Southeast Asia was among the first regions to experience the full-scale impact of COVID-19. During these times, multiple industries and business verticals have witnessed the effect of a shift in consumer behaviour, both positive and negative.

MoEngage analysed over 650 million mobile app users in Southeast Asia and translated their behaviour into an easy-to-understand graph by plotting new users (downloads) and active users (DAUs) of some of the top consumer apps in different business verticals. This quadrant is a part of MoEngage’s report on the business impact of COVID-19 on global apps.

• The Explosion quadrant has industries and apps that have seen a surge in both new and active users. 
• The Growth quadrant represents industries that have seen an increase in active users, but a decrease in new users. 
• The Slowdown quadrant, on the other hand, consists of industries that have seen a decline in both new and active users.
• The last quadrant, Emergence, denotes a decrease in active users, but an increase in new users

Travel and Hospitality

Countries in Southeast Asia, especially Singapore, Malaysia, Thailand, and Indonesia, were the first ones to put up domestic and international travel restrictions. This resulted in a complete stop of flights both to and fro from these countries – which naturally led to a steady decline in both new and active users for OTAs.

OTAs saw a 37 per cent decline in daily active users around the last week of February 2020, which went up to 50 per cent by the end of March 2020. On the Hospitality side, major hotel booking and lodging apps have shown a downward slump from as early as the second week of February.

Also Read: How are Asian startups dealing with the side effects of COVID-19?

Businesses in Southeast Asia implemented WFH protocols earlier than most regions – which meant a complete stop of business travels and cancellation of all seminars, events, and conferences. This led up to a 30 per cent decline in downloads and a 10 per cent decrease in active users of hotel booking apps and apps that provide lodging and homestay experiences.

One of the most common use-cases for Mobility apps was regular travel to and fro from work. Naturally, due to the WFH protocols, there is up to an eight per cent decline in active users, and about a 25 per cent decline in new users since mid-February in Southeast Asia.

Online conference and media apps

Work-from-home protocols have caused meetings to move from a physical setup to virtual rooms. In fact, the number and frequency of online events have increased since the beginning of the COVID-19 pandemic.

More and more brands are conducting webinars, virtual meetups, and roundtable discussions over video chat apps. This has led to about a 200 per cent increase in active users for video chat and online conference apps in Southeast Asia.

Honestly, though this trend was kind of expected, the percentage increase is definitely a head-turner. Zoom, arguably the leader in this cohort, has seen more than a 300 per cent surge in its new user base since the first week of March. Microsoft Teams (including Skype) and Google Meets are the next big names in this list.

Also Read: Survival vs growth: ShopBack co-founder shares 3 golden rules to withstand the pandemic

There is one app, however, that deserves a shout-out – Houseparty. Saying Houseparty’s organic, word-of-mouth growth has been meteoric is an understatement. The app has gone absolutely viral, reporting as much as a five-digit growth rate in app downloads in March.

There was a scare, however, for a while for Houseparty and its parent company Life On Air Inc, when there were allegations of data breaches and privacy concerns. However, these claims were denied.

Just as video conferencing apps have seen a surge in users, media & entertainment apps have witnessed more than a 20 per cent increase in new and active users. Recreation has moved online – people are consuming more online content, streaming more videos, and watching a lot more TV shows and movies.

Now, this trend has proven to be quite harmful to theatres. Movie production houses are looking at Direct-to-OTT releases, which is causing turmoil among theatre owners.

Back in 1998, when Netflix started as a DVD rental service, it reshaped the way people consumed long-form video content – primarily due to the convenience factor of watching a movie on-demand in the comfort of your home, without any commercials. This pandemic is perhaps an indication of another significant shift that will be spoken about for years to come.

Real estate apps

The impact this pandemic has had on the Real Estate industry and rental service apps is quite predictable. In Southeast Asia, there is about a 19 per cent decline in new users and an eight per cent decrease in active users.

Also Read: How are Asian startups dealing with the side effects of COVID-19?

Respecting quarantine and lockdown protocols, Southeast Asians aren’t shifting houses or purchasing new properties currently. The real estate and rental services giant, Zillow, saw a downward trend in new app downloads as well as daily active users. The company, in fact, has seen a combined worldwide drop in downloads by about 24 per cent – which to them is a big decrease considering the number of users is in millions.

As long as social distancing policies continue, house hunting will be the last of peoples’ concerns. Online shopping for groceries and essentials is going to keep us all busy for the time being.

Online shopping and food delivery apps

Speaking of online shopping, apps in Southeast Asia have seen a 40 per cent increase in active users in March 2020 – particularly for grocery deliveries and essential services. Although physical stores and retail outlets are functioning, people are opting to get their essentials and grocery items delivered to their doorstep to avoid travelling outside.

E-commerce apps need to figure out what products are favourable to consumers today. Looking at what product categories customers are visiting and using Google trends to find out if the search volume for specific terms has changed is a good starting point.

Food delivery apps have witnessed a 21 per cent increase in new users during the COVID-19 pandemic. Restaurant partners are taking WHO mandated steps and safety protocols to maintain hygiene in their kitchens. They’re sanitising packaging equipment and are ensuring regular temperature checks for their delivery partners.

One interesting reason behind an increase in active users for food delivery apps is also the fact that people have started “gifting” food to their family members by ordering on their behalf. There is an increase in the order frequency of comfort food like desserts, especially during dinner time.

Also Read: How to scale blockchain as COVID-19 hits traditional markets

Healthcare apps

There is an interesting trend in downloads and DAU for Healthcare apps, which is quite different from most businesses – the number of new users has increased by about 25 per cent, whereas the number of active users fell by 40 per cent. This trend implies that people in Southeast Asia are looking to solve particular pain points and want features that healthcare apps are unable to provide.

To combat this fall in active users, one notable healthcare brand, Alodokter, is taking an interesting step to engage their users. Alodokter has deployed real-time chatbots that help users with COVID-19 related queries and safety measures. The responses of the chatbots have been reviewed and approved by a panel of doctors. This chatbot has already interacted with more than a million users in less than a week!

Next steps for online businesses

First and foremost – businesses must use this time to revisit their strategies and figure out ways to adapt to the current times and for the near future. This is not business as usual. Right now, the customer’s current pain points supersede everything. Brands that understand their customers in these changing times will come out stronger.

Marketers must review all active and scheduled ad campaigns to check if they are relevant to the current situation of the customers. What was relevant a few weeks ago may no longer be useful to the customer today. If something is not working, turn off the campaign immediately and realign the remaining budget.

Businesses also have to diversify to other essential segments either by partnerships or on their own to engage and delight their users. Here are some steps different brands are taking during these times:

• E-commerce giants across Southeast Asia like Blibli, Tokopedia, and Bukalapak are making sweeping changes to their business models to assist with the response to the coronavirus outbreak or to survive the crisis without going bust. A few brands have also switched to manufacturing hand sanitizers, and are sourcing material to produce PPE like masks and hospital gowns.

• Food takeaway services like Foodpanda have already implemented a “no contact” service, giving customers who are self-isolating or keeping their distance from other people the option to have meals left on their doorstep.

• Fitness apps like Strava and HealthifyMe have launched “workout from home” challenges and are gamifying the entire process by showing the scores of all their users and giving grades according to their performance.

Another point that businesses have to remember is to empathize with users and change the communication accordingly. Businesses don’t have to remind everyone that they’re in a pandemic – everyone knows that – instead they need to focus on what your users can do during the lockdown.

Read MoEngage’s report on the impact of COVID-19 on online businesses to get insights from North America, Europe, the Middle East, and India.

Note: If you prefer watching a video explaining how online businesses have been impacted by the COVID-19 pandemic in Southeast Asia, you can check this out:

–

Register for our next webinar: Fireside chat with Paul Meyers and Jussi Salovaara

Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. Become a thought leader in the community and share your opinions or ideas and earn a byline by submitting a post.

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

The post A report card on how tech startups are faring in SEA owing to COVID-19 appeared first on e27.

Carousell launches CarouBiz Booster Package to help SMEs digitise business

Online classifieds marketplaces startup Carousell announced the launch of CarouBiz Booster Package, an initiative supported by Enterprise Singapore, that seeks to help 1,000 local retailers and service merchants in Singapore in digitising and growing their businesses online.

From May 25 to December 31, eligible merchants will receive a one-time 90 per cent support from Enterprise Singapore when they sign up for the ​CarouBiz Booster Package​. Each package is valued at US$508 before support, comprises a six-month ​CarouBiz (Carousell for Business) subscription, and US$338 worth of ​Carousell coins (marketing credits) to purchase additional seller ads and promotional tools on Carousell.

CarouBiz provides tools include video listings, custom collections for product categorisation, profile cover photo for branding, and premium seller badge for credibility.

B Capital, Antler partner up to tap into respective networks

VC firm B Capital Group announced that it has partnered with startup incubator Antler, seeking to widen the respective startup community, according to a report by DealStreetAsia.

B Capital and Antler have agreed to launch events to support entrepreneurs focussing on enterprise application software across multiple industries.

Antler, an early-stage venture capital firm, recently raised US$50 million funding while B Capital reportedly has snagged US$600 million for its second fund.

Also Read: Antler raises US$50M from investors including Facebook co-founder to expand into new locations

Indian e-commerce venture JioMart starts operations in 200 cities and towns

Indian billionaire Mukesh Ambani-owned e-commerce venture JioMart has entered into more cities and towns in India, as reported by TechCrunch.

Kicking off its local expansion, JioMart launched its new website and started accepting orders in cities such as Delhi, Chennai, Kolkata, Bangalore, Pune, Bokaro, Bathinda, Ahmedabad, Gurgaon, and Dehradun.

The service now includes the provision of fruits, vegetables, and dairy items in addition to staples and other grocery products for households across the country. Under Reliance Industries, JioMart is to be present in more than a thousand districts in a year and also widen its catalogue to include electronics and office supplies.

Mukesh Ambani, the chairman and managing director of Reliance Industries, first unveiled his plan to launch an e-commerce platform last year. In a speech then, Ambani invoked Mahatma Gandhi’s work and said India needed to fight another fresh battle.

Ambani recently received more than US$10 billion in investment from KKR, Facebook, Silver Lake, Vista Equity Partners, and General Atlantic.

Indonesian digital coffee chain operator Flash Coffee enters Thailand

Flash Coffee, an Indonesian digital coffee chain operator backed by Rocket Internet, has arrived in Bangkok.

DealStreetAsia reported that after launching its first store in Indonesia in January, the coffee chain has revealed plans to expand to other Southeast Asian capital cities.

In Thailand, Flash Coffee claims that it will have a World Latte Art-winning curated menu by champion Arnon Thitiprasert and Indonesian Latte Art Champion Robby Firlian, all at affordable prices.

–

Image Credit: Carousell

The post News Roundup: Carousell to help SMEs digitise business, B Capital collaborates with Antler appeared first on e27.