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Autonomy vs anarchy: How do we secure the future of autonomous transportation?

Imagine this: After a long, exhausting day, your car drives you home. No hands on the wheel, no stress on the road. Just plain convenience and stress relief. That’s fantastic, but only if we can use autonomous vehicles without fear of them being hacked, taken over, or driven beyond our control.

Autonomous transportation is no longer a vision of the distant future. It is here, transforming the way we move people and goods. From self-driving cars cruising down city streets to drones delivering packages to your doorstep and even life-saving medical equipment, autonomous systems are becoming integral to industries and daily life.

They promise efficiency, innovation, and accessibility. However, as they become more prevalent, the pressing question remains: How do we secure these technologies from cyber threats that could undermine their immense potential?

The reliance of autonomous systems on advanced software, artificial intelligence, and interconnected networks makes them particularly vulnerable to cyberattacks. These attacks could compromise not just operational integrity but also public safety and privacy. Securing autonomous transportation is therefore not just a technical challenge, it is a necessity.

The expanding reality of autonomous transportation

The combined market for autonomous vehicles across land, air, and sea can be valued at an estimated $62 billion USD in 2022, with rapid growth projected in the coming years. As industries embrace self-driving cars, drones, and unmanned vessels, autonomous technology is poised to revolutionise transportation and redefine how we move people and goods, cementing its place at the heart of our future.

On the road, self-driving vehicles are being developed for personal use, ride-sharing, and logistics. Companies like Uber are collaborating with artificial intelligence (AI) specialists such as Nvidia to leverage advancements in AI and computing power, aiming to enhance the efficiency and scalability of autonomous systems. These efforts highlight the vital role of robust AI capabilities in enabling the next generation of transportation solutions, alongside the critical need for securing these systems against evolving cyber threats.

In the skies, drones are revolutionising delivery services, while autonomous aerial vehicles are on the horizon for passenger transport. Companies like Zipline are leading the charge, having completed over 1.3 million commercial deliveries in the US alone, primarily for medical supplies and consumer goods demonstrating how autonomous drones are transforming logistics with unparalleled speed and efficiency. Meanwhile, autonomous aerial vehicles for passenger transport are on the horizon, hinting at an even broader future for autonomous technologies in the air.

At sea, autonomous ships are beginning to navigate global waterways, promising increased efficiency in cargo transport. The Yara Birkeland, a fully electric and autonomous container ship in Norway, is already reducing emissions while demonstrating the potential of crewless maritime logistics.

While each type of autonomous system operates in its own unique environment, they all share a common reliance on connectivity, AI, and automation. These features, while enabling their functionality, also introduce vulnerabilities that hackers could exploit.

Also Read: Cybersecurity in Asia: Trending toward a safer digital future

The cybersecurity challenges facing autonomous systems

The opportunities in common that they bring also come with common vulnerabilities, and these can be exploited across land, air, and sea.

Software vulnerabilities are a universal challenge. From malware injection to exploiting unpatched systems, attackers can compromise the very algorithms that drive autonomy, taking control or shutting down operations entirely. This threat is amplified by the interconnected nature of these systems, where a single breach could cascade across multiple vehicles or domains.

Another critical threat is GPS spoofing, where attackers feed false signals to disrupt navigation. This can misdirect self-driving cars, drones, or ships, potentially causing accidents, delays, or loss of valuable cargo. Sensor tampering is another shared vulnerability, as autonomous systems rely on cameras, LiDAR, radar, and other sensors to interpret their surroundings. A compromised sensor could provide inaccurate data, leading to operational errors or collisions.

Communication networks, such as Vehicle-to-Everything (V2X) or equivalent systems in other domains, are also prime targets for attackers. Spoofing, interception, or denial-of-service (DoS) attacks on these networks could disrupt coordination between vehicles and infrastructure, causing chaos and safety risks.

Additionally, all autonomous systems generate and store sensitive data, such as location histories, user preferences, and operational logs. If this data is accessed or stolen, it could lead to privacy violations, espionage, or even physical harm if attackers exploit it for targeted attacks.

It goes without saying that if these concerns remain unaddressed, it will continue to be a major challenge to build consumer trust and confidence in these systems.

Lessons from recent incidents

The urgency of addressing these cybersecurity challenges is underscored by real-world incidents.

In 2015, security researchers demonstrated the ability to remotely access and control various functions of a Tesla Model S, including the infotainment system, by exploiting software vulnerabilities. Tesla quickly addressed these issues with over-the-air (OTA) updates, but the incident highlighted the potential dangers of compromised software in connected vehicles.

GPS spoofing, a significant threat to autonomous systems, has been highlighted in several alarming cases. In 2019, Regulus Cyber successfully conducted a test on a Tesla Model 3, deceiving its navigation system through GPS spoofing. This caused the vehicle to exit a highway unexpectedly, showcasing the risks of over-the-air attacks on navigation systems. More recently, in 2024, reports of GPS spoofing incidents affecting commercial airliners have emerged, particularly in conflict zones. These attacks led to navigation systems displaying incorrect positions, posing significant risks to aviation safety. The implications are even more severe when considering unmanned vehicles, where human intervention is absent to correct the course.

These incidents make it clear that autonomous transportation systems must be designed with security as a foundational principle, not an afterthought. As reliance on autonomy grows, addressing these vulnerabilities is not just critical for the success of the technology but also for public safety and trust.

Also Read: Camellia Chan: Transforming cybersecurity with hardware-based solutions and and building a global brand

Building a secure future for autonomous transportation

Securing autonomous transportation requires a multi-faceted approach that addresses its unique risks. Communication protocols, such as V2X and drone-to-controller links, must minimally be fortified with encryption and authentication to prevent unauthorised access. AI systems used in autonomous vehicles and drones must be made resilient against adversarial attacks, such as manipulated traffic signs or false data inputs designed to mislead decision-making.

While software security plays a crucial role in protecting autonomous systems, it must be complemented by hardware-based security measures to offer comprehensive protection. Hardware security is uniquely positioned to detect and stop malicious actors attempting to access data in real time, addressing threats at the physical layer where critical data is generated and processed. For instance, embedded sensors in hardware can identify attempts to access or tamper with sensitive data and immediately lock down the system to prevent theft or corruption.

One of the most significant advantages of hardware security is its independence from interconnected systems. Unlike software, which often relies on a network of applications and updates, hardware can operate independently. This independence makes it far less susceptible to the cascading vulnerabilities that plague interconnected software systems, such as malware spreading through shared networks or dependencies on compromised third-party applications. Hardware’s self-contained nature ensures it can continue functioning and safeguarding critical data even when other layers of security are breached.

To build a robust future for autonomous transportation, redundancy and fail-safes must also be built into critical systems to ensure functionality during a breach. In the event of a vehicle hack – such as an attacker gaining remote control of a car’s steering, brakes, or acceleration – hardware security can act as the last line of defence. Its ability to operate autonomously and proactively ensures that the system can detect unauthorised actions in real-time, isolate the compromised components, and prevent malicious commands from causing harm.

For instance, in a scenario where navigation systems are hijacked or critical driving functions are manipulated, hardware-level monitoring can trigger a lockdown or revert the vehicle to a safe mode, overriding malicious inputs. This capability is particularly vital in high-stakes environments, such as urban areas or highways, where a compromised vehicle could endanger not only its passengers but also other road users.

Looking ahead to a bright and secure future

The future of autonomous transportation is bright, but its success hinges on public trust and safety. As these technologies become more prevalent, the industry must prioritise cybersecurity at every stage – from design and manufacturing to deployment and ongoing operation. A critical part of this effort is ensuring that hardware and software security work together seamlessly, creating a multi-layered defence against evolving threats.

Emerging innovations, such as edge computing to reduce reliance on centralised systems, further enhance this collaboration. By processing data closer to the source, edge computing minimises latency and the risks associated with transferring sensitive information over potentially vulnerable networks. This decentralised approach aligns well with the strengths of hardware security, which operates independently and can safeguard data at its point of origin.

Ultimately, the journey toward secure autonomous transportation requires continuous vigilance, innovation, and collaboration. By addressing cybersecurity challenges head-on, we can unlock the full potential of these technologies while safeguarding the people and systems they serve.

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 us on InstagramFacebookX, and LinkedIn to stay connected.

Image credit: Canva Pro

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Together for tomorrow: The role of collaboration in disaster tech innovation

Three people standing in front of the Wateroam booth in Echelon 2023

SAFE STEPS D-Tech Awards 2023 winner Wateroam showcases its ROAMfilter Plus 2, a lightweight, cost-effective water filtration system, at Echelon 2023

The Los Angeles wildfires have caused unprecedented devastation. Over 30,000 acres have been burned and more than 10,000 structures destroyed, including numerous homes. Approximately 180,000 residents have been evacuated and there have been at least five fatalities, with the death toll expected to rise. The economic losses are estimated between $135 billion and $150 billion. As a result, these wildfires among the costliest in U.S. history. This, and other natural disasters, sow destruction on both lives and livelihoods. The urgent need for innovative and collaborative approaches to disaster preparedness and response is clear.

That’s where the SAFE STEPS D-Tech Awards 2025 comes in. This platform is designed to identify and support life-saving innovations that mitigate the impacts of natural disasters and accelerate recovery efforts. And there is no better time, as efforts to save lives before, during, and after disasters have never been more critical. The initiative also underscores the urgent need for collaboration. Read on to find out how it brings together diverse stakeholders to address the pressing challenges posed by climate-related and other crises.

The role of collaboration in advancing disaster tech

At the heart of the SAFE STEPS D-Tech Awards is the Prudence Foundation, a leading advocate for disaster preparedness and resilience in Asia. Since its inception, Prudence Foundation has leveraged its deep expertise and expansive network. It has created a platform dedicated to saving lives through innovation. As the driving force behind the awards, its vision is to inspire transformative solutions that mitigate disaster risks and accelerate recovery efforts, ensuring communities can thrive even in the face of adversity.

This vision is realized through consistent and intentional collaboration. First, the International Federation of Red Cross and Red Crescent Societies (IFRC) contributes invaluable expertise in humanitarian response, providing a critical perspective on disaster management. This partnership ensures a comprehensive understanding of the challenges faced during crises. As a  result, it facilitates timely and effective interventions that prioritize the needs of affected communities.

Meanwhile, Amazon Web Services (AWS) lends its technological prowess, offering cloud infrastructure and support for disaster preparedness efforts. This includes their work with CropIn to reduce crop loss using climate-resilient technologies. Through this collaboration, AWS helps provide farmers with predictive analytics and real-time weather data.  This optimises agricultural practices, ensuring that crops are better protected against unpredictable climate patterns. Since 2017, they’ve responded to 145 natural disasters, leveraging cloud technology to enable solutions like climate-resilient agriculture.

Finally, e27 plays a vital role as an implementation partner. With its unparalleled connection to the startup ecosystem, it ensures that the initiative resonates with its target audience. Together, these partners exemplify the synergy required to advance the disaster technology ecosystem, proving that collaboration is the cornerstone of resilience.

Read also: e27 and Prudence Foundation champion disaster tech innovation through strategic partnerships

SAFE STEPS D-Tech Awards and the real-world impact of disaster tech

The SAFE STEPS D-Tech Awards have a proven track record of celebrating groundbreaking innovations. These innovations have made a tangible impact in disaster response and preparedness. Over the years, the Awards have provided a launchpad for startups to scale their solutions and secure key partnerships, expanding their reach and effectiveness. In 2023, Wateroam emerged as a standout winner with its ROAMfilter Plus 2, a lightweight, cost-effective water filtration system that has delivered safe drinking water to over 250,000 people across 40 countries.

The 2021 edition saw EcoWorth Tech Pte. Ltd. from Singapore take the spotlight for its transformative approach to turning local cellulosic waste into super-absorbent materials for oil spill clean-up and water treatment. The inaugural 2019 Awards celebrated FieldSight, a platform revolutionizing field operations with real-time monitoring and management capabilities, particularly in disaster-prone regions. These inspiring success stories underscore the Awards’ commitment to empowering innovators and scaling disaster tech solutions that save lives globally.

Read also: Wateroam emerges victorious at the 2023 SAFE STEPS D-Tech Awards

Introducing the SAFE STEPS D-Tech Community Hub

The SAFE STEPS D-Tech Hub booth at Echelon Singapore

In 2024, the launch of the SAFE STEPS D-Tech Community Hub marked a pivotal extension of the awards’ mission. The hub has cultivated a thriving ecosystem of over 100 members, including startups, NGOs, investors, and policymakers. This vibrant network fosters collaboration and innovation in disaster technology. As a result, it enables stakeholders to share ideas, pool resources, and form impactful partnerships. A cornerstone of the hub’s efforts is its global repository, a central platform for disaster tech news, resources, and events. Startups have also benefited from access to high-impact activities like webinars, workshops, and showcases.

Designed to foster long-term collaboration, the hub serves as a platform where innovators, funders, and enablers can connect, share resources, and scale solutions. It provides an ecosystem for stakeholders to collaborate on groundbreaking technologies that address disaster risks. Complementing the D-Tech Awards, the Hub amplifies efforts to build resilience and promote sustainable solutions, ensuring that the impact of these innovations extends well beyond the awards themselves. Join the Community Hub here.

Read also: Shaping disaster resilience in APAC through innovation with D-Tech Spotlight

Looking Ahead: The D-Tech Awards 2025

As the D-Tech Awards 2025 approach, the emphasis on collaboration remains stronger than ever. The event promises an enhanced focus on partnerships, capacity building, and innovation, driving further progress in disaster resilience. Interested organisations can look forward to the start of the application process in February. The in-person finals will take place at Echelon 2025. This key gathering for tech innovators and entrepreneurs hosted by e27 will be held on 11 June 2025.

The awards promise to continue its legacy of uncovering and promoting transformative solutions that save lives, protect communities, and expedite recovery in the aftermath of disasters.The awards offer an unparalleled opportunity for startups, organisations, and stakeholders to engage in transformative change. By fostering collaboration across sectors, the awards aim to uncover and scale solutions that save lives, protect communities, and expedite recovery during crises. 

The SAFE STEPS D-Tech Awards and Community Hub exemplify how strategic partnerships can create lasting impact in disaster tech. Organisations and stakeholders are invited to join the Hub.  Through it, they can contribute to this mission and support the journey toward a more resilient future.

Be part of the innovation that shapes tomorrow’s disaster response! Join the virtual launch of SAFE STEPS D-Tech Awards 2025 on 10 February!

This article is produced by the e27 team, sponsored by Prudence Foundation

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Reach out to us here to get started.

Image credit: Prudence Foundation

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‘Thai startups face challenges in funding, corporate engagement, global expansion’: A2D Ventures

Ankit Upadhyay, founder and General Partner at A2D Ventures

While Thailand’s startup ecosystem has made progress in the last several years, it still lags behind its neighbouring countries in the region, including gaps in funding access, corporate engagement, and global readiness. A2D Ventures is looking to fill these gaps with Venture Spark, a programme that empowers startups across Thailand with the funding, mentorship, and resources they need to scale locally and globally (applications for Cohort 1 are now open).

e27 spoke with Ankit Upadhyay, founder and General Partner at A2D Ventures, to learn about the Venture Spark programme and Thailand’s startup ecosystem.

Edited excerpts:

What inspired A2D Ventures and InnoSpace Thailand to launch Venture Spark, and why is now the right time for this initiative?

The last sector-agnostic accelerator in Thailand was run by mobile services provider DTAC in 2019. Since then, founders have lacked access to participate in an accelerator programme with a local focus.

We believe that Thailand’s startup ecosystem is at a turning point. It has incredible potential due to factors like the highest internet penetration, second highest GDP, highest volume of annual tourists, and a substantial population baseline of circa 70 million people. However, there are gaps in scaling venture opportunities and exposure to global mentors.

A2D Ventures and InnoSpace Thailand recognised that startups needed more than just funding—they needed a platform to access deep industry networks, a global mindset, and curated mentorship.

Also Read: How to hack product growth and user acquisition in Thailand

With Southeast Asia poised for rapid economic growth, now is the perfect time to empower Thai startups to lead this revolution and make Thailand a hub for innovation by creating the new S-curve.

What sets Venture Spark apart from other startup accelerators in Thailand?

Venture Spark doesn’t just focus on traditional mentorship and funding; we build deep, strategic partnerships with corporate giants, Thai and expat founder match-making, access to government agency grants, and global VC networks.

Our programme integrates global resources with a local focus, offering startups access to matching funds, corporate collaborations, and a pathway to scale internationally. It also fosters inclusivity for founders of every background—Thais, expats, and digital nomads alike.

What is Venture Spark’s ultimate vision for transforming Thailand’s startup ecosystem?

We aim to position Thailand as a hub for innovation in Southeast Asia. By fostering a culture of global thinking and inclusivity, we aim to produce world-class startups that solve local problems and compete on the global stage. Over time, we aspire to establish Thailand as a key player in Southeast Asia’s innovation economy.

I learned that Venture Spark has collaborated with government agencies like DEPA and NIA to provide matching funds. Can you share more about these collaborations?

Our partnership with Innospace extends its collaboration with the DEPA (Digital Economy Promotion Agency) and NIA (National Innovation Agency) to bridge the financial gaps that many startups face. These matching funds in the form of grants amplify the impact of private investments, allowing startups to access the additional capital they need to scale.

Additionally, these collaborations help foster a supportive policy environment and open doors to resources critical for growth, such as DEPA’s “Digital Startup Technology and Innovation Market,” which enables startups to access corporate and government tenders.

Venture Spark promises strong corporate collaborations with companies like ThaiBev and PTTOR. How do these partnerships help startups scale their business?

These collaborations connect startups with invaluable industry expertise, resources, and distribution networks. Companies like ThaiBev and PTTOR bring decades of operational knowledge and established ecosystems, which help startups test, refine, and scale their solutions rapidly. These partnerships also create opportunities for pilot projects and market validation at a scale most startups can only dream of.

Venture Spark emphasises inclusivity, welcoming local founders, expats, and digital nomads. How do you ensure your programme caters to such a diverse audience?

We design our programme to be highly flexible and universally accessible. From workshops conducted in English to support networks tailored for cultural nuances, we prioritise creating an environment where every founder feels supported.

Also Read: Why is fintech-driven lending a game-changer for Thai SMEs

Additionally, our mentor and advisor network includes experts from Thailand and overseas with experience across various markets and industries, ensuring diverse perspectives are integrated into our guidance.

What strategies does Venture Spark use to help Thai startups build a global mindset and scale internationally?

We focus on exposing startups to global markets early in their journey. This includes bringing in international mentors, facilitating cross-border partnerships, and organising immersion programs in key startup ecosystems worldwide.

We also emphasise the importance of building scalable business models and encourage founders to think beyond Thailand’s borders from day one.

Thailand’s startup ecosystem has grown significantly over the years. How does Venture Spark plan to address the remaining critical gaps?

While progress has been made, gaps remain in funding access, corporate engagement, and global readiness. Venture Spark addresses these by offering not just funding but also strong corporate collaborations and international market entry pathways.

Our tailored programme will help startups overcome these challenges and position them for long-term success, starting with a mindset change amongst founders.

How do you measure Venture Spark’s success, both in terms of individual startups and the broader impact on Thailand’s innovation landscape?

At the individual level, success is measured by a startup’s ability to scale sustainably, secure partnerships, secure funding, and enter new markets. On a broader scale, we look at our contribution to job creation, foreign investment inflows, and Thailand’s ranking in global innovation indices. Ultimately, we aim to create a ripple effect that benefits the entire ecosystem by building strong role models.

What are your expectations for Cohort 1, and what kind of startups are you hoping to attract?

For Cohort 1, we seek innovative startups with high-growth potential, especially those in sectors like food innovation, AI, healthtech, consumer goods, wellness, agritech, robotics, e-commerce, mobility/EV, tourism and biotech. We’re excited to work with founders who are passionate about solving significant problems and powered by a big vision to scale their businesses locally and internationally. We anticipate this first cohort will set a new benchmark for what Thai startups can achieve.

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YouTube, Circles.Life founders invest in Elev8.vc’s US$30M deeptech fund

Elev8.vc, a prominent venture capital firm in Singapore, has announced closing a US$$30 million fund aimed at propelling deeptech innovation within Southeast Asia.

The US$30 million fund has garnered backing from institutional investors, corporate partners, family offices, and experienced founders, including YouTube founder Steve Chen, Circles.Life founder Abhishek Gupta, and AppWorks.

Also Read: Unleashing the power: The fierce talent battle in deeptech innovations

The corporate investment arm of the Singapore Economic Development Board, EDBI, has joined as a strategic partner through the SG Startup Equity (SSGE) scheme. This collaboration aims to accelerate private sector investment into local deep tech startups for their global expansion from Singapore.

This new deeptech fund will support early-stage deeptech startups across various sectors, including artificial intelligence (AI), medtech, robotics, and advanced manufacturing.

The venture capital firm aims to back 20 to 30 high-potential deeptech startups, providing them with capital and strategic resources to accelerate their growth. Elev8.vc will utilise its network across Asia, Europe, and North America to connect these companies to global markets, talent, and further investment opportunities. This strategic support aims to further establish Singapore as a thriving centre for deeptech innovation.

The fund has already invested in a diverse range of companies, including Aevice, Auristone, CoNEX, Equatorial Space, Gush, KABAM Robotics, Moon Technologies, N&E Innovations, and Polybee, as well as two companies operating in stealth mode. These startups are working on technologies ranging from space exploration to sustainable materials and AI.

Also Read: Funding deeptech: Balancing potential and complexity in the search for capital

According to Elev8.vc founder and MD Aditya Mathur, deeptech founders face distinct challenges due to complex sales, development processes, and the need for significant technical expertise. This fund intends to support founders who are translating scientific discoveries into commercially viable solutions that tackle global challenges.

Elev8.vc is working with research institutions, government agencies, and corporate partners in Singapore to create a robust ecosystem that supports the success of deep tech startups.

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Geopolitical risks and economic opportunities: A market overview on global trends

The article covers the complexity of current market conditions, the ongoing geopolitical and economic risks, and the potential for growth in certain sectors, including Bitcoin, as of January 27, 2025.

Key points:

  • Global markets remain cautious as geopolitical tensions and economic uncertainty weigh on sentiment.
  • President Trump’s tariffs and sanctions on Colombia, tied to immigration policy, add to global unease.
  • Markets rebounded last week after Trump avoided immediate tariffs on Mexico, Canada, and China, easing fears of a trade war.
  • The Federal Reserve is expected to pause rate cuts, while tech earnings will be a major focus for US equities.
  • Chinese economic data, due soon, will test global sentiment.
  • US equities dipped, Treasury yields fell, the dollar weakened, and gold prices rose.
  • Bitcoin dropped 1.2 per cent but saw a rise in trading volume and market cap, signalling strong momentum despite short-term challenges.

Global risk sentiment and market rebound

Global markets are treading carefully as uncertainty continues to dominate the financial landscape. President Trump’s decision to impose tariffs and sanctions on Colombia, citing its role in obstructing his immigration goals, has added another layer of tension. This move highlights the administration’s willingness to use economic measures to achieve political ends, which has left investors wary of further disruptions.

Despite these concerns, markets managed to stage a recovery last week. Fears of an immediate trade war were eased when Trump held off on imposing tariffs on key trading partners like Mexico, Canada, and China. This decision provided some relief to investors, who had braced for a more aggressive stance. However, the underlying risks remain, and the potential for future trade conflicts continues to cast a shadow over global sentiment.

US economic developments and federal reserve outlook

In the US, all eyes are on the tech sector as earnings season kicks off. The performance of major technology companies will be critical, as this sector has been a driving force behind market gains in recent years. Strong results could help stabilise equities, while weaker-than-expected numbers might amplify concerns about the broader economy.

Meanwhile, the Federal Reserve is widely expected to hold interest rates steady in its upcoming meeting. This pause in the rate-cutting cycle reflects a cautious approach to monetary policy, as the Fed navigates a mixed economic environment. Investors will be closely watching for any signals about future policy moves, as these could have significant implications for both domestic and global markets.

Chinese economic data and asian market trends

Outside the US, attention is turning to China, where key economic activity data is set to be released. This data will offer valuable insights into the health of the Chinese economy, which has been grappling with slower growth and ongoing trade tensions. A strong reading could boost global sentiment, while weaker numbers might deepen concerns about the global recovery.

Asian markets have been mixed in early trading, reflecting the region’s sensitivity to both local and international developments. As investors digest the implications of US policies and await Chinese data, volatility is likely to remain a key feature of the market in the near term.

Also Read: The human factor: B2B marketing in 2025

Market performance: Equities, bonds, and commodities

US equities saw a slight decline, with the MSCI US index down 0.8 per cent. However, the Real Estate sector stood out, gaining 1.2 per cent as investors sought defensive plays. Treasury yields also fell, with the 10-year yield dropping to 4.62 per cent and the two year yield slipping to 4.27 per cent. These moves suggest a cautious approach by investors, who are seeking safer assets amid ongoing uncertainty.

The US dollar continued its recent pullback, falling 0.6 per cent, while gold prices rose 0.6 per cent, nearing US$2,800 per ounce. Gold’s upward momentum reflects its appeal as a safe-haven asset in times of uncertainty. In the oil market, Brent crude remained below US$80 per barrel, with geopolitical tensions and OPEC+ dynamics adding to the complexity. President Trump’s pressure on Russia to resolve the Ukraine conflict and his demands for lower crude prices have further complicated the outlook for energy markets.

Bitcoin performance and market sentiment

Bitcoin, the world’s largest cryptocurrency, experienced a 1.2 per cent drop over the past 24 hours, trading at US$107,098.75. Despite the decline, trading volume surged by 13 per cent to US$83.05 billion, and market capitalisation rose by two per cent to US$2.09 trillion. These figures suggest that while Bitcoin is facing short-term challenges, there is still strong underlying momentum in the market.

Technical indicators paint a cautiously optimistic picture. The Relative Strength Index (RSI) is at 60.68, signalling mild bullish strength while staying below the overbought level of 70. Additionally, the Moving Average Convergence Divergence (MACD) shows a bullish crossover, with the MACD line at 2,474.87 above the signal line at 1,732.52. Resistance is expected at US$106,251, with support at US$102,693. While Bitcoin’s price remains volatile, the broader market sentiment appears to be leaning toward further gains in the near term.

Conclusion

Global markets are navigating a complex web of risks and opportunities, shaped by geopolitical tensions, economic data, and central bank policies. While last week’s rebound in equities provided some relief, the underlying uncertainties—ranging from US trade policies to Chinese economic performance—continue to weigh on sentiment.

In the cryptocurrency space, Bitcoin’s recent dip highlights the challenges facing digital assets in today’s environment. However, strong trading activity and bullish technical indicators suggest that the market still has room to grow. As investors monitor these developments, staying adaptable and informed will be crucial for navigating the road ahead.

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 us on InstagramFacebookX, and LinkedIn to stay connected.

Image courtesy of the author.

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Indonesia’s eFishery faces turmoil amidst fraud allegations


eFishery is currently under investigation for allegedly inflating its revenue and profit figures.

A draft report by FTI Consulting suggests that the Indonesian agritech startup overstated its revenue by nearly US$600 million for the nine months leading up to September 2024.

The report indicates that the actual revenue was US$157 million, significantly lower than the reported US$752 million. Furthermore, instead of the previously stated profit of US$16 million, the company recorded a loss of US$35.4 million.

Also Read: The great decline: How Indonesia’s tech funding hit a 3-year low

Internal records also reveal accumulated losses of approximately US$152 million since its inception up to November 2024.

The investigation has also cast doubt on the number of fish feeders the company claims to operate. While eFishery stated it had over 400,000 fish feeders, investigators believe the actual number is closer to 24,000. These accounting discrepancies led to the dismissal of CEO and co-founder Gibran Huzaifah in December.

Despite these allegations, eFishery’s product manager, Elsa Vinietta, has defended the company’s core technology on LinkedIn. She states that its IoT, AI, and apps are real products used by farmers, not just prototypes. She emphasizes that all core aspects of the company were developed in-house.

Meanwhile, a labour union was formed, and eFishery employees rallied outside the Bandung office. The union voiced concerns about the company’s future as reports circulated about potential mass layoffs and a complete shutdown in February. They have demanded that the company cancel any potential layoffs and reassess its business lines, noting that eFishery still possesses substantial assets.

The union also criticised statements that have unfairly tarnished the reputations of all employees, stating that most employees were not involved in any fraud. They have further urged eFishery to resume business operations and to publicly address the fraud allegations.

Patrick Walujo, CEO of GoTo Group and an investor in eFishery, has described the situation at eFishery as “embarrassing.”

Also Read: eFishery gets US$30M loan from HSBC Indonesia

Co-founders Gibran Huzaifah and Chrisna Aditya have stepped down following the investigation and interim CEO Adhy Wibisono has also resigned.

Founded in 2013, eFishery is one of Indonesia’s largest digital co-operatives for fish and shrimp farmers. It offers an integrated aquaculture ecosystem that provides access to technology, supporting fish and shrimp farmers across Indonesia.

Last June, the firm received US$30 million in green and social loans from leading lender HSBC Indonesia.

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Ecosystem Roundup: eFishery faces fraud allegations | Indonesia’s tech funding hits a 3-year low | iMotorbike raises US$10M

Dear reader,

The Indonesian agritech startup, eFishery, is currently facing a major crisis amid allegations of financial misrepresentation.

A draft report indicates the company overstated its revenue by nearly US$600M for the nine months ending September 2024, claiming US$752M instead of the actual US$157M. This discrepancy also revealed a loss of US$35.4 million, a stark contrast to the previously reported profit of US$16 million. Furthermore, internal records show accumulated losses of around US$152 million since the company’s inception.

The company’s claims about the number of operational fish feeders also appear to be exaggerated, with investigators suggesting 24,000 instead of the reported 400,000. Following these revelations, eFishery’s CEO and co-founder was dismissed. The company’s future is now uncertain as union members claim the company plans mass layoffs and closure.

However, eFishery’s employees are pushing back against the fraud allegations. They stress that the core technology is in-house, and many employees weren’t involved in the financial misreporting. The union is calling for management to acknowledge that the majority of the staff was not involved in the fraud. They also insist that the company has sufficient assets to resume operations.

This situation serves as a cautionary tale about the importance of financial integrity for startups.

Sainul,
Editor.

NEWS & VIEWS

eFishery allegedly overstated revenue by US$600M
A draft report by FTI Consulting claims EFishery overstated its revenue by nearly US$600M for the nine months ending September 2024 | The report states that the company had actual revenue of US$157M, significantly lower than the reported US$752M.

eFishery employee denies entire company commits fraud
eFishery is facing investigations for allegedly inflating revenue by almost US$600M for its September 2024 results | The company also claimed it operated over 400K fish feeders, while investigators suggested the number was closer to 24,000.

eFishery staff demand answers amid layoff, closure rumours
eFishery labour union members claimed they heard that eFishery, which recently halted operations, is planning to do mass layoffs and close down in February | Workers also criticised “negative and unbalanced” reports of alleged fraud within the company.

The great decline: How Indonesia’s tech funding hit a 3-year low
The total amount raised by Indonesia’s startups in 2024 was US$323M, a 75% drop from the US$1.3B raised in 2023 and a 90% fall from the US$3.24B in 2022 | Fintech, enterprise applications, and insurtech stood out.

iMotorbike gears up for growth with US$10M Series A funding led by Headline Asia
Ondine, 500 Global, Gobi Partners, Endeavor Catalyst, and Astor FMO | The funding will support iMotorbike’s expansion into Malaysia, including new inspection centres and showrooms in key locations and its launch in Taiwan.

SoftBank shares rise on US$100B AI deal with OpenAI, Oracle
This initiative involves partnerships with OpenAI and Oracle Corp. for projects related to data centres and physical campuses | Microsoft and Nvidia are also expected to play roles in this project.

Acquiring the acquirer: Thai proptech firm FazWaz takes the helm at Lifull Connect
This strategic move comes after Lifull Connect’s acquisition of FazWaz in 2023 | FazWaz is a real estate platform that provides brokerage services to make buying, selling, or renting a property easy.

uHoo secures US$3.7M to drive growth in smart indoor air quality solutions
Wavemaker Ventures and Menarco Development Corporation led the round | uHoo Aura provides real-time data on critical environmental factors, including temperature, humidity, air quality, noise levels, and chemical pollutants.

East Ventures completes GP-led secondary transaction with Coller Capital
According to East Ventures, the transaction brings the fund’s distributions-to-paid-in capital (DPI) ratio to approximately 2.0x.

500 Global launches Saudi-based fund
The fund, based in Riyadh, is supported by Saudi Arabia’s Public Investment Fund and Saudi Venture Capital | 500 Global manages US$2.3B in assets and has been active in the region since 2012.

New JV to power Southeast Asia with 500MW of renewable energy projects
Sustainable Asia Renewable Assets has been established within the SUSI Asia Energy Transition Fund and aims to develop a 500MW portfolio of greenfield renewable energy projects across select SEA’s markets by the end of SAETF’s fund life.

Consumer spending on AI apps reaches US$1.1B in 2024: report
Users engaged with these AI-powered apps for over 7.7B hours, and downloads of apps featuring “AI” hit 17B worldwide | The rise in AI app usage followed launches such as Google’s Gemini app and the wider availability of OpenAI’s ChatGPT.

South Korea to build US$1.7B AI centre by 2027
The centre aims for a computing capacity of 1 exaflop, a significant milestone | This initiative is part of South Korea’s strategy to strengthen its AI infrastructure and rank among the top three global AI leaders.

Singapore-based TikTok-like app gains traction in US
Likee, known for its AI-powered video feed, experienced a 143% spike in downloads and a 37% rise in user activity on Jan. 18 compared to the previous day | The trend continued on Jan. 19 with an additional 11% rise in usage.

Intudo leads US$1.25M investment in Banyu to elevate Indonesia’s seaweed value chain
Banyu supports local farmers through high-quality seedlings, advanced farming techniques, and access to stable incomes | The funding will enable it to establish a seedling cultivation laboratory and nursery.

MDI Ventures invests in CYFIRMA to fortify Indonesia’s cybersecurity ecosystem
CYFIRMA’s AI-powered external threat landscape management platform provides cyber defenders with a hacker’s view to help clients prepare for impending attacks.

Line launches apps to boost Asia’s blockchain adoption
The Mini Dapps by Line Next, accessible through the Line app, include games, social media services, and Web3 content powered by Kaia, a Layer 1 blockchain developed with Kakao.

Singaporean startup launches AI tool to automate M&A processes
Navi aims to minimise the time for tasks like buyer research, data enrichment, and outreach, which typically take weeks | It also automates the creation of marketing materials, including teasers and investment memos.

Fintech firm Revolut launches robo-advisor in Singapore
This service provides users with automated investment options through diversified portfolios, starting with a minimum investment of US$100 | It customises portfolios based on users’ financial goals and risk tolerance, assessed through a series of questions.

FEATURES & INTERVIEWS

Fly0 seeks to transform travel finance for the underserved in Bangladesh
Fly0 is built on Islamic finance principles, ensuring its services are ethical, inclusive, and free of interest | Instead of charging interest, the platform earns revenue through pre-arranged commissions with travel providers.

Achieving 202%+ CAGR: How Casa Mia redefines coliving for Singapore’s young professionals
From its inception, Casa Mia catered to a growing need: affordable and community-focused solutions for individuals early in their careers.

The intersection of tech and climate change: 5 key forces that will redefine the global market
According to this Kearney report, the dual nature of tech highlights its disruptive impact and transformative potential.

FROM THE ARCHIVES

How East Ventures adopts materiality-driven ESG strategy for its portfolio companies
East Ventures Partner Melisa Irene explains how the venture capital firm promotes ESG values to its portfolio companies.

How climate tech companies in Asia measure the impact of their work
To answer this big question, we reached out to climate tech companies in the Asia Pacific and get them to explain the details.

Understanding the role of fintech, blockchain in transitioning to net zero
This includes the technological know-how that is believed to be “pivotal” in developing and funding innovations to support net-zero transition.

Kickstarting a sustainable ‘change’ reaction with material innovation
Forward-thinking companies are using material innovation to transform the traditional linear product lifecycle into a circular one.

From grid to code: Why good cybersecurity will help deliver net zero
As Asia becomes a key player in the renewable energy transition, stakeholders must remain vigilant about cybersecurity threats and practices.

Digital transformation for nonprofits: 3 strategies for success
By embracing a culture of learning and innovation, nonprofits can use these tools to make a greater impact on the communities and causes they support.

Asia’s role in climate change: Risks, rewards, and the road to net-zero
As a region that is rich in natural, human, and technological capital, Asia is well poised for a net-zero future.

ESG frameworks and standards: Cutting through the complexity of private markets
Having navigated ESG frameworks myself, I’ve created a concise guide with useful links to demystify these concepts for private markets.

Rewiring our world: How neuroscience unlocks the secret to sustainable tech
Neuroscience offers tools designed to engage, motivate, and inspire — tools that can make sustainability a core part of the tech culture.

Blockchain to the rescue: How tech can combat food waste and secure our food supply
Blockchain holds immense promise in revolutionising food production, consumption, and distribution, addressing critical industry challenges.

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

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

Is traditional finance failing you? How blockchain can unlock a more secure, personalised future
Blockchain is poised to be the cornerstone of open finance, enabling secure and frictionless transactions in a new financial ecosystem.

Europe’s financial challenge: Can tech bridge the gap to sustainable practices?
Emerging tech like AI, IoT, and blockchain are tackling sustainability issues in finance, boosting accessibility, impact, and reach.

Beyond apps and telehealth: The power of the Village approach for mental well-being
The village offers a platform for genuine conversations, creating a safe space to share challenges and find support in overcoming them.

Will climate change force us to re-imagine travel in the future?
Explore how virtual environments offer a solution for experiencing culture amidst climate change challenges such as water scarcity crises.

How AI and blockchain collaborate for a transparent Web3 future
From politicians to major tech companies, there’s growing recognition, and more efforts are being made to bring AI and blockchain closer together.

From potential to prosperity: Blockchain’s role in reshaping Southeast Asian economies
Blockchain integration in nations like Malaysia marks a transformative era, addressing real-world challenges; a robust solution, not just a trend.

How we designed the future of digital pets in just six weeks
With MetaPals, it isn’t just about looking after a digital animal, it is forming emotional connections and being responsible too.

How the blockchain could change the way the government works
Blockchain’s potential to enhance the public sector has prompted governments to begin testing the technology.

How is Vietnam taking the lead in the blockchain market?
Vietnam leads in global cryptocurrency adoption for 2021 and 2022, second only to Thailand in ASEAN for holders.

On-chain data and Web3 security: Insights from industry experts
Web3 security will shift from a reactive to a proactive approach, prioritizing prevention over post-attack responses.

Navigating the evolving landscape of blockchain regulation in the metaverse era
This article analyses the current and future prospects of blockchain regulation in the United States based on the executive order.

Acing in hackathons: What every tech enthusiast needs to consider
After participating in over 80 hackathons, a journey of multiple wins and experiences, here are my key takeaways.

THOUGHT LEADERSHIP

The climate tech odyssey: Beyond the ‘Valley of Death’ is decades of prosperity
Navigating the ‘Valley of Death’ requires understanding its complexities and its role in the growth of most climate tech startups.

South Africa and Southeast Asia: A new frontier in fintech collaboration
The partnership between Southeast Asia’s investment acumen and South Africa’s fintech ingenuity holds immense promise.

How AI is revolutionising the product management domain
With advancements in quantum computing, reasoning AI, and the potential of AGI, the future of product management looks both exciting and challenging.

Decoding Indonesia’s Personal Data Protection Law: Implications for fintech companies
Indonesia’s PDP Law drives digital progress, urging fintechs to prioritise consumer trust and excellence beyond compliance.

10 mistakes any new founder should avoid in personal branding
Personal branding might seem like a task that can wait, but it significantly influences how people perceive our business.

Squid Game’s Front Man: A masterclass in persuasion
As someone with over 10 years of experience in Public Relations, I couldn’t help but notice the Front Man’s incredible ability to manipulate and persuade.

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Greentech revolution: Catalysing software’s success to drive a sustainable future

 

It was a prescient statement in 2011 that “software is eating the world” by Marc Andreesen.

The appetite for software has continued unabated since then and has become the overwhelming focus of business spend and growth.  It is intrinsic to any and all initiatives in enterprises, startups,   governments, or militaries.

If you break down how and why software ate the world, there are some inevitable conclusions, and also guide us on the next big “feast” that will occur across the business.

Intrinsic and participatory

Software is not a nice enhancement to have: it is at the guts of any business and its processes.  Similarly, on the consumer side, it is part of our daily lives.  Consider your most critical connectivity/comms/social device – your smartphone – now considered “90 per cent software and 10 per cent hardware”.

Software is so intrinsic to the business and our daily lives that IT as a function has largely become a custodian.   The IT leadership in most companies maintains the network and core infrastructure, but gone are the days of IT dictating what specific applications and software Marketing, Sales, Product Engineering, or Strategy and Planning use.

Business units and functions decide on what supporting software they need to execute and compete.   The software thus became not only intrinsic to the business but “participatory” across the entire organisation.   Everybody uses common infrastructure and apps and then utilises specific software at their functional level.  Software, quite simply, is everywhere and at the heart of any company and its activities.

And Greentech — defined as net zero cities; clear air/carbon capture; low carbon mobility; recycling/circular resources; clean energy, and efficiency — will follow an adoption even rivalling that of software!

Valuation and measurement

The ubiquity of software has been significantly driven by the explicit value that it drives for the business and its measurement. We no longer think of monolithic, standalone apps such as ERP and years-long estimates of bottom-line impact.   It is now a continuous alignment between the company business unit’s end goals and the software-based initiative.

What business impact and outcomes will the software drive?  What is the cost of delay if we don’t invest?

Also Read: Empathetic software development: Creating accessibility-first apps for greater inclusivity

Thus “valuation” of what software delivers is a clear and recognised process across organisations. It guides us on how and where to invest and what to expect regarding impact.  And because it is now integral to companies and their ability to execute, it is a key competitive driver and differentiator.

Process and integration

The ability to implement, consume, and maintain software became more and more efficient over time.  It evolved from “programs” and monolithic systems to the building of apps that live on the edge and interact with distributed systems.  Software development and implementation moved through phases such as “Agile” and “scrum” and eventually concepts such as “DevOps”.

These modular, faster methods meant clearer processes for how to build and deliver software.  And any software necessarily interacts and integrates into existing processes and applications.  It is interoperable and delivered across an incredibly rich ecosystem, interacting with components such as IoT and big data.   This maturation around the process and delivery of software has made it the greatest source of startups, wealth creation, and new categories that we have seen in the history of business.

And these are key learnings that we can apply to how and why Greentech will evolve and be adopted across the business and our daily lives.

“Great leaders know that under the turmoil of chaos and change, there is a beauty of patterns and designs.”

Let’s start with intrinsic and participatory, the first major factor in software eating the world.

From a Greentech perspective, the adoption and impact will be felt across:

  • Employees
    • Candidates and new recruits will increasingly push the recruiter/employer on the company’s Greentech agenda and results. This is accelerating as pressure as demographic groups such as GenZ are very focused and vocal on this.
    • Employee Engagement is a key issue (e.g. quiet quitting, great resignation) and has a bottom-line financial impact. Ample research and findings validate that Engagement is improved with a sense that the company is actively “doing good” and has a common purpose.
  • Business unit and management
    • Business units and line management are pressured to deliver continual efficiencies and improved performance.  Technologies such as Process Mining not only uncover inefficient processes but also have implications for carbon reduction or green and more efficient mobility.
    • These “wins” at the business unit level can be rolled up into the broader corporate Greentech progress, with a positive impact, therefore, on business unit performance and recognition.
  • Executive leadership
    • ESG has now become a common component of overall corporate planning, execution and communications. And while it is a useful early-stage framework for sustainable growth targets (carbon footprint metrics, diversity and inclusion), it is still evolving and lacks standardisation.
    • New models and metrics will evolve with the top leadership acutely concerned and involved in understanding how to execute with a cleaner/greener footprint, as well as communicate internally/externally around its efforts.
  • Investors
    • Whether current or potential, investors are keenly sensitive to the sustainability and Greentech positioning of the company. This focus and expectation will only continue to grow and pressure the adoption of Greentech across companies.

Greentech will be inexorably driven across the company and, like software, become intrinsic to operations.

Valuation and measurement

The massive, continual software adoption was driven by an ever-clearer ability to define its value.  With valuation and metrics, clear decisions around trade-offs, bottom-line impact, and investment can be made.  Execution and implementation lead to results, which are communicated, and the cycle goes on.

Is Greentech here yet? No. But think about how software evolved, clear processes, metrics and Categories emerged, and the massive economics that was driven.

Also Read: How Singapore is leveraging technology to become a sustainable fashion hub

To look at potential drivers around new ways of modelling and valuation, consider two leading areas of thought: Dasgupta and Doughnuts.

Partha Dasgupta’s ground-breaking work focuses on the real valuation of what we consume. For example, what is the true cost of the power we consume?  Or the full impact and cost of a consumer good we use?  There is huge momentum around this new microeconomic thinking and models.

It will be the industry’s true Innovators and Category Designers who take on and solve this problem in terms of modelling, process, and technology enablers.  Greentech will be valued in the context of the resources used and impacted.

In parallel, the concept of the traditional circular-flow diagram of an economy and GDP is being challenged.   Historical mapping of resource and transaction flow does not capture the energy or the materials on which the economy depends, nor the society in which those activities develop.

A new macroeconomic approach gaining traction is the “doughnut economy”, where thinking and a visual framework for sustainable development are presented – shaped like a doughnut– combining the concept of planetary resources and thus a boundary in which we must operate and live.

In either of the above new ways of thinking, we have the ecosystem around us and the need to rethink the valuation of resources and the full impact we are making. Innovators and creators in Greentech who define these new models will unleash tremendous new wealth, technologies and Category Leadership.

Process and integration

The delivery models and enterprise-wide integration associated with the software must also mature and manifest for Greentech. These initiatives must be interoperable with other company systems and seamlessly feed into the company’s data, tracking and reporting.

Innovations and technologies such as Process Mining which uncover inefficiencies (and the opportunity to lower carbon footprint) are examples of how Greentech can be adopted and accelerated.  But this is only the tip of the iceberg.

Because of the magnitude of the problem (and financial upside), innovators and creators will make Greentech easier and easier to adopt and measure.  There will be new Categories that emerge around this problem-solving.

And history shows that the ones who design the Categories are usually the ones who end up leading them!

“Our economies are embedded within nature, not external to it.”

Internal efficiencies have driven the software and have become integral to the “guts” of a company.

Greentech is driven from the opposite direction – the outside in.  We only need to look around or read the news to understand how big this will be.  So let’s learn from history and create legendary new companies and Categories in the Greentech space!

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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This article was first published on May 31, 2022

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Navigating Southeast Asia’s digital economy in 2025: Trends, growth and innovation

The Asia-Pacific (APAC) region’s digital economy is undergoing a transformative shift, powered by the rapid growth of e-commerce, travel, and cross-border trade. This momentum is fuelled by technological advancements, a thriving startup ecosystem, and an increasing demand for efficient financial solutions. Businesses in APAC are looking for ways to operate more seamlessly across borders, and fintech players like Airwallex are at the forefront of this change, offering innovative solutions that empower companies of all sizes.

A smiling man in a black blazer against a gray background

Arnold Chan, General Manager of APAC at Airwallex (above), reflects this confidence, “The region’s robust e-commerce, travel, and cross-border trade, coupled with a vibrant startup ecosystem, present significant opportunities. As businesses adapt in this evolving landscape, technology and innovation are crucial for success.”

This vision has been reflected in Airwallex’s strong performance in 2024. In Q3 alone, the company reported an 83% year-on-year revenue increase. It also posted a 49% year-on-year growth in transaction volume across APAC. These figures underscore the increasing demand for digital-first financial solutions that facilitate seamless transactions across borders.

Southeast Asia: a key digital economy growth driver within APAC  

Within APAC, Southeast Asia stands out as a dynamic and rapidly expanding region. With its young, digital-savvy population, rising middle class, and booming digital economy, the region is emerging as a powerhouse for fintech innovation. Countries like Singapore and Malaysia are leading the way, fostering robust startup ecosystems and driving cross-border commerce.

Beyond these established hubs, Indonesia and Vietnam are also experiencing significant fintech growth. Indonesia, with its dynamic economy and growing digital ecosystem, presents a huge opportunity for digital payments and financial services. Meanwhile, Vietnam’s fast-growing economy and rapid digital transformation make it an attractive market for fintech expansion. Businesses in these markets seek faster, more efficient financial solutions. Accordingly, Airwallex is well-positioned to support their cross-border payment needs and operational efficiencies.

Airwallex recognises Southeast Asia’s potential and has made significant strides in the region by supporting businesses of all sizes – whether startups, SMEs, or large enterprises – to manage everything from payments, treasury, and spend management to embedded finance. 

Also read: How these Airwallex talents found their way in the fintech world

Singapore: fuelling startup growth and enterprise expansion

Singapore is a key hub for innovation in APAC, and Airwallex has continued to deepen its presence in the city-state. Building on successful launches in Hong Kong and Australia, Airwallex expanded its Airwallex for Startups programme in Singapore. This programme provides local businesses with resources and tools to scale internationally.

In November 2024, Airwallex awarded its first S$10,000 Level-Up Business Grant to NatureThings, a promising Singapore-based startup that integrates nature into urban environments for enhanced human and spatial wellbeing. To date, over 2,000 startups across various regions have benefited from the programme’s networking events, partner offers, and mentorship.

Low Cher Hao, Head of SME and Growth at Airwallex Singapore, reaffirmed the company’s commitment to the local ecosystem, “Startups and SMEs form the backbone of innovation and entrepreneurship in Singapore. The programme is designed to help them accelerate their growth by offering them the right means and channels to build their business beyond borders.”

Two men and one woman with celebratory expressions holding a giant VISA card indicating Airwallex Level Up Business Grant worth SGD 10,000

Cher Hao with the co-founders of NatureThings, the winner of the Airwallex for Startups S$10K grant

Looking ahead to 2025, Cher Hao aims to expand Airwallex’s engagement with the local business community: “The launch of the Airwallex for Startups programme last year was just the beginning. We are looking to do a lot more and offer the support that’s needed to grow their businesses, particularly amidst the variety of challenges local businesses face in today’s macroeconomic climate.”

Beyond startups and SMEs, Airwallex is also focused on empowering larger enterprises in Singapore. This is true particularly through the integration of embedded finance solutions. David Brady, Director of Sales, Enterprise, Southeast Asia, highlights the potential of embedded finance in the region, “Singapore’s strategic position as a financial hub makes it an ideal market for embedded finance. As businesses seek to streamline operations and enhance customer experience, embedded financial solutions will play a key role in enabling seamless payments, digital banking, and innovative financial services across Southeast Asia.”

Also read: Breaking barriers: My journey with Airwallex this International Women’s Day

Malaysia: strengthening fintech innovation and B2B growth

With over 300 fintech companies, Malaysia is rapidly strengthening its position as a startup hub in Southeast Asia. The country’s strong digital economy, coupled with its government’s push for fintech innovation, has created ‌fertile ground for B2B financial solutions.

At the inaugural KL20 Summit hosted by Malaysia’s Ministry of Economy, Jack Zhang, Co-founder and CEO of Airwallex, shared insights into the company’s trajectory and the broader potential of Malaysia in the evolving global fintech landscape. He highlighted the importance of financial technology in driving business efficiency, particularly in cross-border trade.

A group of people in a room with purple-tinged lighting, smiling for the camera

Team Airwallex at the KL20 Summit 2024

Looking into 2025, Aren Yip, Country Manager, Malaysia, Airwallex, believes Malaysia’s B2B fintech sector is primed for accelerated growth. “Malaysia is poised to become a regional leader in B2B fintech, driven by global trade, cost efficiency, and AI integration. SMEs are increasingly leveraging fintech for seamless cross-border payments, operational efficiency, and data-driven insights. On top of that, AI is becoming a key enabler in the industry, helping businesses address unique challenges specific to their workflows, industries, and end users.”

Airwallex has also been active in fostering collaboration with key industry players, participating in events alongside Amazon and Xero as well as ecosystem players like Malaysia External Trade Development Corporation (MATRADE), the national trade promotion agency under the Ministry of Investment, Trade and Industry (MITI) and Malaysian Research Accelerator for Technology & Innovation (MRANTI) under the Science, Technology and Innovation Ministry (MOSTI). This engagement underscores Airwallex’s commitment to facilitating trade and supporting businesses in navigating the complexities of international growth.

A man in a black blazer standing in front of a wall with the words ideas to impact

Aren at the Malaysia Commercialisation Summit hosted by MRANTI

The road ahead: Driving financial innovation across the region  

As digital transformation accelerates across Southeast Asia and APAC, the demand for financial solutions that facilitate borderless business operations will continue to grow. Fintech players like Airwallex are not only responding to this demand. They are also shaping the future of finance by using AI, embedded finance, and cross-border payment innovations.

With continued growth in key markets like Singapore, Malaysia, Indonesia, and Vietnam, Airwallex is set to play a pivotal role in empowering businesses – whether startups, SMEs, or large enterprises – to unlock new opportunities and scale beyond borders. As the fintech ecosystem in APAC matures, businesses will need a robust and flexible financial infrastructure to stay competitive in an increasingly digital and interconnected world.

This article is sponsored by Airwallex

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Featured Image Credit: Airwallex

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Preparing your cybersecurity strategy for 2025: Adapting to the rise of AI

It’s no longer just imagination—over the past year, we’ve witnessed AI technology becoming more powerful and accessible. Unfortunately, this also means it’s easier than ever for cybercriminals to exploit AI for hacking and other malicious activities.

Whether it’s generating convincing phishing emails, automating attacks, or bypassing traditional defences, AI has raised the stakes for cybersecurity. That’s why preparing a robust cybersecurity strategy for 2025 is essential, especially for corporations and startups. With the right approach, you can stay ahead of the threats while embracing the opportunities AI offers.

Let’s dive into the steps you can take to future-proof your organisation.

Assess where you are today

Before you can move forward, you need to know where you stand. Start with a full review of your current cybersecurity setup:

  • Are your devices protected? Endpoint security is critical for safeguarding workstations, mobile devices, and servers.
  • Is your network secure? Regularly check for misconfigurations or gaps in your defences.
  • How secure is your cloud? Cloud misconfigurations are a common vulnerability, and the shift to remote work has made this a prime target.

Leverage AI-powered tools to automate this process and uncover vulnerabilities you might otherwise miss.

Bring AI to your defence

When cybercriminals use AI, so should you—but for the right reasons. AI can help your organisation:

  • Spot unusual activity in real time.
  • Automate responses to stop threats before they spread.
  • Predict potential attacks by analysing historical data and trends.

Invest in solutions like AI-driven threat detection platforms or Managed Detection and Response (MDR) services that bring both speed and precision to your security operations.

Lock down your cloud environment

The cloud isn’t just convenient—it’s critical for modern business operations. But with that comes responsibility:

  • Use Cloud Security Posture Management (CSPM) to detect and fix misconfigurations automatically.
  • Review user access regularly and enforce strict permissions—AI can help by identifying accounts with excessive privileges.
  • Keep compliance in check. Whether it’s GDPR, PCI DSS, or NIST, make sure your cloud setup meets the necessary standards.

Also Read: Indonesia’s antivirus reliance: A cybersecurity blindspot

Protect your data at all costs

In the AI era, data is a top target. To safeguard your organisation:

  • Encrypt sensitive data at every stage—whether it’s stored on your servers or travelling through the network.
  • Adopt a zero-trust architecture, where every access request is verified, even from within your organisation.
  • Regularly back up data and test your recovery plans. This ensures you’re ready to bounce back if ransomware strikes.

Train your team to spot AI-powered scams

AI has taken phishing and scams to a whole new level. Sophisticated fake emails, cloned voices, and even deepfake videos can easily trick untrained employees. To counter this:

  • Run regular training sessions so your team can identify suspicious emails, links, or requests.
  • Use tools that analyse email content and block potential phishing attempts.
  • Implement multi-factor authentication (MFA) to add an extra layer of security.

Be ready for breaches

No system is completely invincible. What separates resilient organisations from the rest is how prepared they are to respond:

  • Have a detailed incident response plan and ensure everyone knows their role in it.
  • Conduct regular simulations to test your defences and refine your recovery process.
  • Invest in forensic tools that can quickly analyse breaches, contain the damage, and prevent repeat attacks.

Build security into development processes

If your organisation builds software or digital products, this step is a must. DevSecOps integrates security right into your development pipeline, ensuring vulnerabilities are addressed from the start:

  • Automate security checks during coding and deployment.
  • Run regular tests on APIs and third-party libraries.
  • Encourage developers to prioritise secure coding practices through training and tools.

Also Read: Cybersecurity in Asia: Trending toward a safer digital future

Collaborate with trusted cybersecurity partners

You don’t have to go it alone. Partnering with experienced cybersecurity providers can give you access to advanced tools and expertise without overburdening your team. Look for solutions that:

  • Provide round-the-clock monitoring and rapid response.
  • Offer scalability, so your security grows with your business.
  • Continuously adapt to new threats, especially those driven by AI.

Prioritise compliance and governance

With AI amplifying risks, staying compliant isn’t just about avoiding fines—it’s about maintaining trust with customers and stakeholders. To keep up:

  • Monitor regulatory changes in your industry.
  • Conduct regular audits to identify and address gaps.
  • Use AI-powered compliance tools that map requirements and flag non-conformities automatically.

Stay informed and stay ahead

The cybersecurity landscape is always changing, especially with AI in the mix. Make it a priority to keep your team informed about new threats and best practices.

  • Join industry forums and attend webinars to stay updated.
  • Subscribe to trusted threat intelligence feeds.
  • Create a culture of adaptability, where your team is always ready to embrace new challenges and solutions.

Wrapping up

As we head into 2025, AI will continue to reshape how businesses operate—and how cybercriminals attack. The good news is that with the right strategy, you can turn AI into your greatest ally rather than a looming threat.

By assessing your current setup, leveraging AI for defence, and building a culture of security across your organisation, you’ll be well-equipped to face whatever the future holds. Whether you’re a startup navigating limited resources or a corporation managing complex systems, the time to act is now.

Remember, cybersecurity isn’t just a technical responsibility—it’s a business enabler. Let’s make 2025 the year your organisation thrives securely in the age of AI.

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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