It’s no secret that mobile has become the primary channel for brand engagement, customer loyalty, and long-term growth. Yet despite this opportunity, many businesses still struggle to turn app installs into sustained relationships. The real challenge is not getting users through the door, but keeping them engaged long after the first tap.

At a regional roundtable hosted by e27 and Branch, marketing and growth leaders came together to discuss what drives lasting success in mobile ecosystems. The conversation made one thing clear: sustainable mobile growth is no longer about scale alone. It is about creating a continuous loop of acquisition, retention, and personalisation that feeds itself through data and insight.

Moving beyond downloads

In markets like Indonesia, Malaysia, and the Philippines, mobile penetration has outpaced digital maturity. Companies often measure success through downloads or campaign reach, but those metrics only tell part of the story. What truly matters is whether users stay, engage, and convert.

At the roundtable, participants shared that many teams still approach growth as a linear funnel rather than a feedback loop. Acquisition efforts often operate separately from retention or product teams, resulting in a fragmented user journey. The emerging consensus was that growth today depends on how effectively a brand can connect these moments into a seamless cycle of engagement.

“It is no longer about growing bigger, but growing smarter,” one participant noted. “You cannot just add users; you have to understand them.”

Also read: Marketing’s next big challenge? Making AI feel human

The shift toward continuous optimisation

AI and analytics are now allowing marketers to measure and iterate faster than ever before. Instead of launching static campaigns, brands are learning to adapt in real time based on behavioural data.

At the Branch roundtable, growth leaders discussed how experimentation has become a defining mindset. A/B testing, predictive analytics, and in-app engagement tracking now power what one participant described as a “living growth strategy,” where every insight leads to a new hypothesis.

This approach demands a culture of curiosity and cross-functional collaboration. Marketers must work closely with product and data teams to interpret feedback loops and make quick adjustments. Over time, these small optimisations compound into what many called the mobile growth flywheel — a self-sustaining system where data from every interaction improves the next one.

Insights from Southeast Asia’s mobile-first leaders

Across fintech, e-commerce, and lifestyle sectors, leaders shared examples of how mobile apps are driving measurable impact when supported by the right strategy. Some are using deep linking to re-engage users with personalised offers. Others are applying lifecycle marketing to anticipate churn and reintroduce value before users drop off.

Also read: From buzzword to application: Southeast Asia’s AI momentum

The stories were diverse, but the themes were consistent. The most successful companies view engagement not as a campaign, but as a relationship. They invest in understanding user intent, reduce friction across channels, and measure success by long-term loyalty rather than short-term conversions.

Rethinking how mobile innovation happens

Roundtables like these show that the most meaningful insights often come from shared experience. When marketers, product teams, and growth strategists sit together, the conversation naturally moves beyond metrics and into mindset.

Across the discussions, participants acknowledged that Southeast Asia’s mobile ecosystem is maturing quickly. The appetite for experimentation is strong, but so is the need for frameworks that turn insight into action. Collaboration, openness, and data transparency are becoming just as important as performance and scale. As one leader put it, “Everyone has data, but few have dialogue. Growth happens when both come together.”

Where the conversation leads next

The evolution of mobile engagement in Southeast Asia is far from over. As new tools and platforms emerge, the focus will increasingly shift toward connected experiences that make every touchpoint matter.

The future of mobile growth belongs to those who treat engagement as an ongoing relationship rather than a one-time event. Brands that listen, learn, and adapt will continue to build the kind of loyalty that lasts far beyond a download.

Mobile growth is not a sprint for users; it is a cycle of understanding. The next generation of marketing leaders will be the ones who turn data into dialogue and experimentation into everyday practice.

Also read: How data and collaboration are powering Vietnam’s urban mobility revolution

Work with us

If your organisation wants to host meaningful discussions around mobile innovation or bring decision-makers together to explore the next phase of digital growth, let’s make it happen. You can reach the Innovate team here.

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Kids born after 2010, Gen Alpha, are growing up completely differently from any generation before them. Their first experience with learning new things often isn’t a textbook or even a teacher. It’s a YouTube short, a TikTok video, or an Instagram reel.

People love to say attention spans are getting shorter. But that’s not quite right. These kids aren’t losing focus. They’re just pickier about what deserves their attention. They scan quickly, decide if something’s worth their time, and move on if it’s not.

This is changing how educational technology needs to work. Hour-long lecture videos, boring slideshows, and endless multiple-choice quizzes? They don’t match how Gen Alpha actually takes in information. The future is about good content, built with the same ideas that make TikTok work.

What TikTok got right

TikTok isn’t just entertainment. It works because of three things: it’s short, it’s interactive, and it reaches the right people.

• Short and punchy: Every video has to deliver something useful in seconds. This forces creators to explain things clearly and cut out the fluff.
• Interactive: Comments, duets, and stitches mean viewers aren’t just watching. They’re responding, asking questions, and creating their own versions.
• Smart algorithms: TikTok’s system finds your audience for you. A good science explanation can reach a student in Singapore, a parent in Manila, or a curious kid in Kenya, all within minutes.

These features might seem too casual for “real” learning. But they’re actually becoming the foundation for how education can scale.

Why content should come first

Most education platforms start by building the technology: the app, the dashboard, all the analytics. Then they plug content into it. TikTok does the opposite. The content is everything. The platform just helps it find people.

When you put content first, learning adapts to the student instead of forcing students to adapt to some rigid system. A well-made 45-second video can spark curiosity, explain something clearly, and make someone want to learn more. Do that at scale, and you’ve got something powerful.

Also Read: The future of work is microlearning: How bite-sized education is transforming the workplace

What we tried in Singapore

At my tutoring centre in Singapore called Bestminds Academy, we decided to experiment with this content-first approach. We’ve always been known for primary school science tuition, but instead of focusing only on classrooms, we started posting short science explainer videos on TikTok.

One 30-second video explained why banana leaves don’t burn when you cook food wrapped in them. It went viral, not because it was flashy, but because it was genuinely interesting and clearly explained. Parents started reaching out, asking for more.

The lesson? Sometimes growing an education business isn’t about opening more classrooms or hiring more teachers. Sometimes it’s about rethinking how you share knowledge in the first place.

Content as the new currency

For Gen Alpha, content is everything. They share it, remix it, and use it to show what they’ve learned. Schools and education companies that don’t get this are going to struggle.

We’re already seeing big education companies try things like micro-learning, gamification, and even influencer teachers. But TikTok’s swipe mechanic takes it further. Each swipe is a tiny moment of progress: no getting stuck, always something new. That taps into how our brains are wired to seek out novelty and reward.

Education companies can use this idea responsibly. Each small learning moment can build toward real understanding.

Making it scale

Here’s the real opportunity: traditional tutoring is limited by geography and time. But when you turn lessons into short, shareable videos, you can reach thousands or millions of people without much extra cost.

This doesn’t replace deep learning. A TikTok video about plant biology won’t fully prepare a kid for major exams. But it can be the thing that gets them interested enough to explore further, sign up for a course, or show up to class ready to learn more.

Hybrid approaches are already emerging: attention-grabbing content on TikTok, structured lessons on teaching platforms, and ongoing Q&A support. It starts with curiosity and builds toward real mastery.

Also Read: Why the education sector needs a lesson in ad fraud

The depth problem

Critics say short videos oversimplify things. And they’re right, if that’s all you do. The trick is to see short content as part of a bigger picture. A single video is like a single note. The full learning experience is the whole song.

The viral video isn’t the goal. It’s the entry point. The real value comes when students move from that spark of curiosity to deeper learning resources: full lessons, practice problems, and teacher guidance.

Building trust in a distracted world

Parents and teachers need to trust what’s happening. TikTok has a reputation for being all about entertainment and distraction, so using it for education might seem weird. But when teachers use it with integrity, it actually works.

Gen Alpha kids can tell when someone’s being fake versus when they genuinely care about teaching. The best education models will combine real teachers, smart use of platforms, and solid curriculum design.

Also Read: How inclusive education can unlock potential in Indonesia’s marginalised youth

What comes next

We’re at a turning point. The old way of teaching (long lectures, static textbooks, one-way instruction) doesn’t match how young people learn anymore. TikTok has shown us that knowledge can spread faster, engage deeper, and reach more people when it’s packaged right.

The question isn’t whether short videos belong in education. It’s how we use them responsibly while keeping standards high.

Final thought: Keep swiping

For Gen Alpha, swiping isn’t just a gesture. It’s how they think. They expect knowledge to be fast, clear, and interesting. The teachers and education companies that win will be the ones who learn from TikTok and build content-first systems that can scale.

The opportunity is huge: a generation that’s hungry to learn, with tools to access anything, waiting for educators who are willing to meet them where they are.

The question is simple: do we stick with the old way of doing things, or do we move forward into how learning actually works now?

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Startup Island TAIWAN is showcasing a delegation of Taiwanese startups to Singapore from 29 to 31 October 2025, at SWITCH (Singapore Week of Innovation and Technology) — Asia’s leading innovation event. The delegation, jointly organized by Startup Island TAIWAN, the Taiwan Stock Exchange, Startup Terrace Kaohsiung, and the Hsinchu Science Park Bureau, features 28 Taiwanese startups, showcasing Taiwan’s achievements and capabilities in AI-native solutions, next-gen hardware, semiconductors, and sustainability.

Caption: The Taiwan Delegation of 28 startups at the Taiwan Pavilion, with Wen-Ling Wu, Deputy Representative, Taipei Representative Office in Singapore, Taiwan Stock Exchange, Startup Terrace Kaohsiung, and Hsinchu Science Park Bureau.

Singapore as a global hub — connecting ASEAN markets and international capital

The SWITCH exhibition in Singapore is one of Startup Island TAIWAN’s key international initiatives, aimed at helping Taiwanese startups connect with Southeast Asian market resources, global investment networks, and strategic partners. Long regarded as a vital hub for entrepreneurship and capital in Asia, Singapore attracts startups, enterprises, and investors from around the world, serving as a crucial gateway for Taiwan’s startups to expand internationally.

Through participation in SWITCH, Startup Island TAIWAN seeks to help startups engage with potential partners and investors, strengthen Taiwan’s presence in ASEAN markets, and enhance Taiwan’s global visibility.

Also read: Why Southeast Asia’s next wave of startups is looking to Taiwan for growth

Taiwan shines at SLINGSHOT 2025

Taiwanese startup, Phasetrum, has been selected as a top-12 startup at SLINGSHOT, Asia’s premier deep-tech startup competition. After progressing through two rounds of competitive evaluation, Phasetrum was selected as one of the top 60 startups and advanced to the Manufacturing, Trade and Connectivity Domain Finals, earning the opportunity to participate in the SLINGSHOT physical immersion trip in Singapore and to pitch on the main stage at SWITCH. After Thursday’s pitching session, Phasetrum was selected for the SLINGSHOT top-12, earning a $60,000 Startup Singapore Grant and 4-week Intangible Asset Identification Sprint to further support business development and expansion. 

Phasetrum’s 3-in-1 phase-difference tuner enables users to connect to satellites from anywhere in the world with half of the power consumption and size of other phase array solutions. With proven superior connectivity performance, Phasetrum’s technology is pushing satellite communications into the next generation and making mass element phase array solutions a commercial reality. Having already partnered with top-tier satellite operators and manufacturers, Phasetrum is exploring commercial and military applications to provide constant and reliable satellite connectivity for its users.   

Taiwan’s startups shine on the global stage

MetaRosetta Co., Ltd.

MetaRosetta pioneers wafer-scale, single-element achromatic metalenses that replace bulky multi-element optics with compact, high-performance designs for IR imaging and AR/VR devices. Its scalable lenses enable smaller, lighter, and more efficient modules for next-generation applications. At SWITCH, MetaRosetta presented simulation data, reference designs, and hosted private demos for potential partners. The company is actively engaging collaborators in the United States, Japan, and Singapore to accelerate commercialization and industry adoption.

Morale AI 

Morale AI develops domain-specific Large Language Models (LLMs) and AI Agents for smart manufacturing and sustainability. Its TextileGPT, trained on 28 years of textile process data, is deployed in collaboration with TUNTEX across Taiwan and Thailand, enabling cross-border AI-driven quality control and operational learning. The company is also expanding into Southeast Asia via partnership with Evercomm Singapore, integrating predictive analytics into ESG compliance platforms to help factories forecast emissions and resource use.

Also Read: Why Taiwan’s tech ecosystem is ASEAN’s next big growth driver

Seeing Display Technology

Seeing’s MEMORIO patented memory-type smart film could memorize its light status just by one switch without continuously powered on, and could save electricity 90% more than the current products and technologies. MEMORIO is the best solution to achieve smart living and ESG goals. Seeing is currently doing a proof-of-concept project with American and Taiwanese companies focusing on smart building materials and advanced display development. Seeing is currently seeking partners and investment in Singapore to further scale up production.

Tenfold AI

Tenfold AI is transforming the $437B legal services market with LexGents, an AI platform that accelerates legal drafting, issue detection, and cross-jurisdictional research. Powered by multi-agent architecture, LexGents improves speed up to 180× while enhancing accuracy and compliance. It is currently adopted by 13 legal entities, including major law firms, VCs, and corporate legal teams in Taiwan, and is soon to be deployed by government agencies. With its fit for efficiency-driven, law-based systems, LexGents is well-positioned for Singapore’s legal market.  

Continuing Taiwan’s innovation journey across Asia  

Participating in SWITCH not only marks another milestone for Taiwanese startups on the global stage but also symbolizes the continued outward momentum of Taiwan’s innovation power. Startup Island TAIWAN will continue to promote the global expansion of Taiwan’s startups through exhibitions, forums, and cross-border collaboration, reinforcing international market connections and building a new hub for innovation linkages across Asia.

Startup Island TAIWAN is Taiwan’s national startup brand backed by the National Development Council. It is dedicated to showcasing Taiwan’s innovative capabilities to the world. For more information about Taiwan’s startup scene on the global stage, please follow Startup Island TAIWAN’s official website and social media accounts.

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Indonesian e-commerce giant PT Global Digital Niaga Tbk, the IDX-listed company behind Blibli.com and its lifestyle arm BlibliTiket, has unveiled its third-quarter (Q3) 2025 results.

Net revenues climbed 32 per cent year-on-year to Rp4,279 billion (US$269.5 million), driven by smartphone sales and physical store expansions. Yet, beneath the glossy metrics and CEO platitudes, the numbers reveal a company scrambling to stem bleeding margins, leaning on aggressive cost controls that could erode long-term competitiveness in Southeast Asia’s cutthroat digital retail arena.

Also Read: Blibli is the latest Indonesian tech company to confirm unicorn status

The press release trumpets “resilience and agility” amid economic headwinds, but a closer dissection exposes the fragility. While gross profit before discounts swelled a robust 32 per cent to Rp4,279 billion (US$269.5 million), the take rate – a critical measure of revenue efficiency per unit of gross merchandise value (GMV) – barely budged from 6.7 per cent in Q3 2024 to 7 per cent in Q3 2025.

This stagnation signals Blibli’s struggle to extract value from its sprawling ecosystem, even as GMV reached Rp61,634 billion (US$3.88 billion), a 26 per cent year-over-year increase. For the nine months, the take rate inched up to 3.6 per cent from 3 per cent, but that’s cold comfort in a market where rivals like Shopee and Tokopedia are reportedly squeezing merchants with deeper discounts to lock in loyalty.

Worse, consolidated EBITDA plunged 12 per cent year-on-year to Rp886 billion (US$55.8 million) in Q3, with the margin contracting to 18.6 per cent of total payment volume (TPV) from a healthier 21 per cent last year. Over the first nine months, EBITDA margins eroded further to 17.9 per cent from 20.3 per cent – a slippage attributed to “strategic investments” but which smells more like the fallout from promotional overdrive.

Operating expenses as a percentage of TPV dipped slightly to 7.2 per cent from 7.5 per cent, thanks to lower consolidated selling costs, but this “efficiency” comes at the expense of genuine innovation. Blibli’s playbook here? Slash ad spends and administrative overheads while flooding the market with iPhone 17 launch hype – a short-term sales jolt that analysts say risks commoditising the platform.

“Blibli’s performance reflects continued resilience and agility,” said Kuswanto Martanto, co-founder and CEO. Yet his words ring hollow against a backdrop of decelerating growth: total segment revenues for the IP Retail arm, Blibli’s online commerce core, expanded just 16 per cent year-on-year to Rp3,034 billion (US$191.1 million) in Q3, down from the blistering paces of prior quarters.

Physical stores, including the 70.6 per cent-owned PT Supra Boga Lestari Tbk (Ranch Market), fared better with 30 per cent GMV growth to Rp4,608 billion (US$290.1 million), buoyed by new Apple and Huawei mono-brand outlets. But even here, the shine fades: overall TPV growth slowed to 2 per cent year-on-year, hinting at saturation in urban consumer electronics.

Also Read: Vietnam leads SEA in e-commerce optimism despite regulatory frictions

The institutional business, serving corporate clients, posted a meagre 30 per cent GMV uptick to Rp1,921 billion (US$121 million), but net revenues grew only 20 per cent to Rp349 billion (US$22 million). With over 10,700 institutional trust clients by September’s end–up from 9,600– Blibli boasts scale, yet average transacting users stagnated at 2.3 million, flat year-on-year.

This plateau underscores a deeper malaise: in a post-pandemic Indonesia where e-commerce penetration hovers at 20 per cent of retail, Blibli’s omnichannel bet (spanning 13 warehouses, 38 home-and-living experience centres, and 58 supermarket outlets) is starting to look like overextension rather than synergy.

The post Behind Blibli’s 32 per cent surge: A margin crisis in disguise appeared first on e27.

Indonesian tech giant GoTo Group has reported a statutory loss of US$15.6 million (Rp255 billion) for the third quarter of 2025, despite the company’s press release proclaiming it had achieved its “first quarterly adjusted pre-tax profit”.

The focus on non-standard financial metrics, such as adjusted pre-tax profit and adjusted EBITDA, appears to mask weaknesses in the core business segments and the continuing bottom-line losses.

Also Read: Behind GoTo’s record Q2: The fine print tells a different story

GoTo, the largest digital ecosystem in Indonesia, announced that its adjusted pre-tax profit was Rp62 billion, equivalent to approximately US$3.8 million, marking the first time the company has reported this specific metric. Furthermore, group adjusted EBITDA reached Rp516 billion (approximately US$31.5 million), an improvement of 239 per cent year-on-year (YoY).

The reliance on non-IFAS measures

While management celebrated generating positive financial results, these figures are based on non-Indonesian Financial Accounting Standards (IFAS) measures. GoTo’s adjusted metrics, including adjusted EBITDA and adjusted pre-tax profit, are calculated by adding back substantial expenses that are necessary to run the business.

Specifically, adjusted EBITDA excludes crucial costs such as depreciation and amortisation, interest expenses, foreign exchange losses, and share-based compensation costs. The press release itself cautions that these non-IFAS measures “should be considered in addition to, not as substitutes for, or in isolation from, measures prepared in accordance with IFAS”.

For the nine months ending 30 September 2025, the company’s loss for the period was Rp997 billion. Even with the significant Q3 improvement—an 85 per cent decrease in the quarterly loss compared to Q3 2024’s Rp1,693 billion loss—GoTo still ended the quarter in the red when using standard accounting principles.

Core GTV growth stagnates in flagship segments

While the overall group core GTV saw robust growth of 43 per cent YoY, reaching Rp102.8 trillion, a deeper look at the traditional platform segment—on-demand services—reveals a significant slowdown in growth, indicating that the overall group growth is heavily reliant on its fintech division.

The on-demand services segment (which includes mobility and delivery), excluding Vietnam, recorded a modest GTV increase of only 2.4 per cent YoY, reaching Rp16.7 trillion (approximately US$1.02 billion).

Broken down further:

• Mobility GTV (two-wheel and four-wheel online transport) grew by a minimal 1 per cent YoY to Rp6.3 trillion (approximately US$382.1 million).
• Delivery GTV (online food delivery, logistics, and quick commerce) performed only slightly better, growing by 4 per cent YoY to Rp10.5 trillion (approximately US$641 million).

In stark contrast, the fintech segment’s core GTV soared by 48 per cent YoY to Rp95.3 trillion, suggesting that the strong group-wide GTV performance is being driven primarily by consumer payments and lending growth. The financial technology unit achieved its fourth consecutive quarter of profitability, with adjusted EBITDA reaching Rp136 billion (approximately US$8.3 million).

Also Read: GoTo secures US$281M loan to strengthen balance sheet, fuel growth

The slowing momentum in GTV for mobility and delivery suggests that GoTo is prioritising profitability and efficiency over aggressive expansion and market share acquisition in these key services.

Despite the underlying net loss and concerns about segmented growth, GoTo remains optimistic, having raised its full-year 2025 Group adjusted EBITDA guidance to between Rp 1.8 trillion and Rp 1.9 trillion.

The company currently holds Rp18 trillion, or approximately US$1.1 billion, in cash, cash equivalents, and short-term deposits.

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Risk sentiment has retreated sharply, not due to a sudden economic contraction, but rather to growing investor unease over the sustainability of surging artificial intelligence-related capital expenditures and a surprisingly hawkish pivot from the US Federal Reserve.

Despite delivering a widely anticipated 25-basis-point rate cut to a target range of 3.75 per cent to 4.00 per cent, Chair Jerome Powell used the post-decision press conference to push back firmly against expectations of further easing, warning that inflation remains sticky and that the labour market, while cooling, still shows signs of underlying strength. This messaging effectively neutralised the dovish implications of the cut itself, triggering a repricing across asset classes.

Equity markets responded with a clear rotation out of high-duration tech names. The Nasdaq fell 1.6 per cent, significantly underperforming the Dow Jones, which declined only 0.2 per cent. This divergence underscores a market increasingly sceptical of the lofty valuations underpinning the AI trade, which had been a primary driver of the year’s gains. The repricing was mirrored in the bond market, where yields edged higher.

The benchmark 10-year Treasury yield climbed by two basis points to settle at 4.097 per cent, while the two-year yield rose one basis point to 3.608 per cent. This steepening of the yield curve, albeit modest, signals that traders are now pricing in a more prolonged period of elevated rates than previously expected. The US Dollar Index capitalised on this shift in sentiment, rising 0.3 per cent to 99.53, its highest level in three months, as global capital sought the relative safety of the greenback.

This risk-off environment spilt over into commodities and, more acutely, into the cryptocurrency market. Gold, often a haven during uncertainty, surged by 2.4 per cent to close at an extraordinary US$4,023.20 per ounce, a level that speaks to deep-seated anxieties about long-term monetary debasement and a potential flight from traditional financial assets. In the oil market, Brent crude was relatively stable, gaining just 0.1 per cent to settle at US$65 per barrel.

This calm, however, belies a complex backdrop. The market is digesting news that OPEC+ is poised to approve another modest output increase of 137,000 barrels per day for December, a move that would continue its gradual unwinding of production cuts. This potential supply boost is being counterbalanced by new US sanctions on Russia, which have stoked uncertainty about the reliability of global oil supply, creating a tense equilibrium that has so far prevented a major price move in either direction.

Also Read: From Tokyo to crypto: How political shifts and policy bets are reshaping global markets

Against this macroeconomic tapestry, the cryptocurrency market has entered a period of pronounced weakness. Over the past 24 hours, the total market capitalisation has fallen by two per cent, extending a monthly decline of 6.46 per cent. The current market cap stands at approximately US$3.67 trillion, a figure that has broken below both its seven-day and 30-day simple moving averages, signalling a clear deterioration in its technical structure. This downturn is not a simple market correction but the result of a confluence of powerful, bearish forces operating in unison.

The most significant driver of this weakness is a sudden and substantial exodus of institutional capital from Bitcoin spot ETFs. On October 30, these funds recorded a net outflow of US$488 million, the largest single-day withdrawal since June 2025. The selling was led by the market’s two heaviest weights: BlackRock’s IBIT saw US$291 million flee its coffers, while Ark Invest’s ARKB bled a further US$65.6 million. This synchronised institutional retreat is a critical development.

For much of 2025, the steady inflow of capital into these ETFs had been the bedrock of Bitcoin’s price stability and its primary source of new demand. The abrupt reversal suggests that large, sophisticated players are either taking profits after a strong run or, more ominously, are repositioning their portfolios in anticipation of a more challenging macro environment ahead. With total ETF assets now at US$143.9 billion, the market is now on high alert for November’s flow data, which will be the key indicator of whether this is a temporary pause or the beginning of a sustained institutional withdrawal.

Compounding this problem is a sharp contraction in the derivatives market. Total open interest, a measure of the total value of outstanding leveraged bets, has plummeted by 4.4 per cent, falling from US$848 billion to US$812 billion. At the same time, average funding rates on perpetual futures contracts have turned negative, settling at -0.0018 per cent. This combination is a classic sign of market deleveraging.

Also Read: Markets on edge: Fed ambiguity fuels risk-off mood as Aster surges amid crypto bloodbath

Traders are actively closing their long positions, often at a loss, to reduce their risk exposure. While this process of forced liquidation removes the immediate threat of a cascading crash, it also strips the market of its bullish momentum. The negative funding rate confirms that the short-term sentiment is firmly bearish, as those holding short positions are now being paid to do so by the longs who remain in the market.

From a technical perspective, the picture is equally grim. The market has not only broken key moving averages but has also seen its Relative Strength Index (RSI) fall to 40.9, entering oversold territory. The Moving Average Convergence Divergence (MACD) indicator remains in negative territory, suggesting that the bearish momentum is still in control.

This creates a precarious situation where the market is technically primed for a bounce, but the underlying trend remains firmly down. The next major support level appears to be the US$3.6 trillion mark, a 78.6 per cent Fibonacci retracement level, which will be a critical test of the market’s resilience.

The prevailing sentiment is one of fear. The market’s Fear and Greed Index has plunged to 31, a level categorised as Extreme Fear and the lowest it has been in a week. This psychological state is further amplified by a rising Bitcoin dominance index, which now sits at 59.3 per cent.

When Bitcoin’s share of the total crypto market cap increases during a downturn, it typically indicates that investors are fleeing from riskier altcoins and rotating into what they perceive as the safest asset in the space. This dynamic suggests that if the current pressure continues, altcoins could face even more severe selling than Bitcoin itself.

In conclusion, the crypto market’s current malaise is a direct reflection of a broader macroeconomic shift. The trifecta of institutional caution, derivatives deleveraging, and a broken technical structure has created a formidable headwind. While the oversold conditions may eventually attract bargain hunters, the market is in desperate need of a catalyst to reverse its course.

That catalyst could come in the form of a renewed wave of ETF inflows, signaling that institutions have regained their confidence, or from a more dovish signal from the Federal Reserve that eases the pressure on risk assets. Until then, the path of least resistance remains lower, and all eyes will be on whether Bitcoin can hold its October low near US$105,000 as the ultimate test of its underlying support.

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Singapore-based telco innovator MyRepublic showcases “Affordable Sales AI Automation for SMEs”, empowering lean teams with enterprise-grade AI coworkers.

MyRepublic was among the standout teams featured at the world’s first Meta Llama Incubator Demo Day, a global program spotlighting startups and enterprises advancing the future of responsible AI.

The company unveiled its latest innovation, “AI Sales Coworker”, a LLM-agnostic Customer Relationship Management(CRM) platform designed to bring affordable sales AI automation to small and mid-sized businesses at a fraction of traditional CRM costs.

Transforming SME sales with AI coworkers

Built to address one of the most persistent challenges faced by SME sales leaders: doing more with less. MyRepublic’s solution leverages Meta’s Llama models and an agentic AI architecture to streamline end-to-end sales operations.

“SME sales teams are often stretched thin, juggling lead management, customer outreach, and CRM updates,” said Kenny Yee, Head of AI & Transformation at MyRepublic. “We’re giving them virtual AI coworkers that handle the repetitive work so they can focus on closing deals and growing their business.”

The AI Sales Coworker automates tasks such as lead research, prioritisation, product recommendations, and outreach generation. It integrates seamlessly with collaboration tools like WhatsApp, Microsoft Teams, Telegram, and Google Chat, enabling 24/7 virtual assistance without complex onboarding or high subscription costs.

Also read: Meta accelerates AI innovation in Singapore with Llama Incubator program demo day

Turning manual workflows into intelligent automation

MyRepublic’s solution potentially aims to disrupt the traditional SME CRM market with AI-empowered capabilities, providing a cost-efficient and scalable path to AI adoption. Unlike traditional CRMs that rely heavily on manual data entry, the system applies Retrieval-Augmented Generation (RAG) for product-specific knowledge, ensuring trustworthy, contextual, and personalised engagement with customers.

Key features include:

• Automated lead ingestion and assignment across channels
• Context-aware sales pitch generation
• AI coworker chatbots available round-the-clock
• Full CRM capabilities
• Oversight, safety, and governance by design

AI responsibility by design

As part of the Meta Llama Incubator, MyRepublic has adopted AI safety and transparency principles guided by the Meta Llama’s Responsible Use Guide. The initiative reinforces MyRepublic’s commitment to delivering trustworthy and responsible AI across its enterprise and SME solutions portfolio.

“Our solution is designed with in-built guardrails, human-in-the-loop and data privacy features to ensure that businesses can leverage the latest advances brought by AI without having to worry about trust and safety” added Senior AI Lead Engineer, Zhang Qianqian.

Also read: Singapore’s CREX named among top 3 teams at world’s first Meta Llama Incubator Demo Day

Empowering every business to own its AI future

MyRepublic’s participation in the program underscores its broader mission to democratise enterprise AI for every business, regardless of size or sector. By combining deep connectivity expertise with next-generation automation, MyRepublic continues to play a leading role in Singapore’s digital transformation landscape.

The Meta Llama Incubator is supported by a coalition of partners and ecosystem builders, with special thanks to e27 for amplifying responsible AI innovation across Asia.

Businesses interested in exploring the AI Sales Coworker or other innovations from MyRepublic can learn more at https://myrepublic.net/sg/business/ai-automation-box/ or connect via LinkedIn.

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Just like in previous quarters, Indonesia’s tech giant is leaning hard on non-IFAS accounting to craft a profitability story. The company’s latest Q3 results trumpet a Rp62 billion (US$3.73 million) “adjusted pre-tax profit” and a 239 per cent surge in adjusted EBITDA.

But once again, these figures depend on adding back real costs: depreciation, amortisation, interest, FX losses, and share-based expenses, which are the fundamentals that define how a business truly performs.

By standard accounting measures, GoTo still posted a statutory loss of US$15.6 million, even after trimming its red ink by 85 per cent year-on-year. Its core on-demand business–the bedrock of its super app identity– grew a meagre 2.4 per cent, with mobility and delivery barely inching forward. Meanwhile, fintech continues to do the heavy lifting, up 48 per cent year-on-year and turning a steady profit.

This isn’t the first time e27 has flagged GoTo’s reliance on adjusted metrics, and the pattern continues. Beneath the optimism lies a truth that GoTo’s glossy releases can’t conceal: profitability, in its purest form, remains elusive.

REGIONAL

GoTo’s profit claim doesn’t add up: Adjusted metrics mask a US$15.6M loss: Despite its profit claims, GoTo’s Q3 results show dependence on accounting adjustments and slowing growth in flagship on-demand segments.

Behind Blibli’s 32 per cent surge: A margin crisis in disguise: Blibli’s top-line growth masks deeper margin erosion, exposing vulnerabilities in its cost strategy and omnichannel expansion efforts across Indonesia.

Carro posts record FY2025 revenue of US$898M: This represents a 15% rise in revenue. The gross profit for the period grew 20% to US$111M.
Its gross profit margin increased to 12.4% from 11.8% in FY2024, with liquidity at US$287M and total assets of S$1.3 billion.

Publicis Groupe acquires Hepmil to build Southeast Asia’s first data-driven creator network: Publicis expands its global creator ecosystem with Hepmil acquisition, merging local storytelling and data insights to power influencer campaigns in SEA.

Singaporean proptech firm Ohmyhome’s CEO Rhonda Wong resigns: It has named Wong Wun Wun Daisy as its new co-CEO, effective October 22. The company said Wong’s resignation was not due to disagreements over operations or company policies.

India and Japan lead Asia’s tech layoffs as AI-driven cuts escalate: India has reported the second-largest wave of tech layoffs globally. The country’s total tech layoffs have exceeded 17,000 in 2025. Japan ranks third globally for the volume of tech layoffs.

Qapita acquires US fund admin firm Punch Financial: The Singapore-based provider of equity management solutions said the deal will bolster its fund management services by integrating Punch’s fund accounting and administration tools.

OpenAI rolls out Sora app in Thailand, Vietnam, Taiwan: Sora, OpenAI’s AI-powered video creation tool, lets users generate and remix videos using AI and share them on a customisable feed. It was first rolled out in the US and Canada in September.

Razorpay’s Curlec, India’s NPCI to enable UPI payments in Malaysia: The integration will allow Indian travellers to pay Malaysian merchants using UPI apps, with payments settled in Malaysian ringgit. According to tourism data, over 1M Indian tourists visited Malaysia in 2024.

TikTok reaches 460M users in Southeast Asia, expands in Vietnam: Indonesia accounts for 160M users, Vietnam 70M, and Thailand 50 million, with the remainder across the region. The company said its platform is now used for app discovery and business growth in areas like gaming, finance, and retail.

Blue Whale Energy nets US$2M to power Singapore’s first battery-based virtual power plant: Investors include Forge Ventures, Monk’s Hill, and UntroD. The startup focuses on developing and operating distributed battery systems tailored for commercial and industrial customers.

Ex-Tesla AI team’s IndustrialMind raises US$1.2M to bring a decision-making brain to factory floors: Investors include Antler, TSVC, Plug and Play, and Gang Song. Its AI Engineer understands engineering drawings and production data, recommends and validates process changes, and lifts yield and throughput.

QAI Ventures launches Singapore accelerator to drive Asia’s next computing revolution: The accelerator is designed to help early-stage founders translate scientific breakthroughs into scalable, investment-ready businesses. The five-month programme offers mentorship from global experts in quantum technologies, venture capital, and corporate innovation.

Videotto secures seed round from East Ventures to make video editing 100x faster: Videotto can also generate multiple short videos optimised for different social media platforms, helping users instantly tailor their content for each channel.

REPORTS, FEATURES & INTERVIEWS

From heatstroke to haze: India’s climate vulnerability is sparking a new wave of investment: While private climate-tech inflows have reached approximately US$4B since 2015 in India, the US$1M to US$3M ticket gap remains challenging.

Asia’s climate–health gold rush is just getting started: Private capital is accelerating into Asia’s climate–health sector, with growing VC interest, rising early-stage deals, and emerging blended financing models.

From policy to capital: How development banks are driving the climate x health agenda: Development banks and philanthropies lead Asia’s climate x health finance shift, focusing on de-risking, adaptation, and ecosystem-building for private capital.

SensorTower: Non-gaming mobile apps have taken over SEA as revenue-generating genre: At the TikTok App Summit in Hanoi, David Law of Sensor Tower, shared that 2025 marks a turning point for the region’s mobile app ecosystem.

INTERNATIONAL

OpenAI, Oracle partner on 1 GW Stargate data centre in Michigan: OpenAI, Oracle, and SoftBank have previously announced six Stargate sites in the US, with combined planned capacity now exceeding 8 gigawatts and a reported US$450 billion investment over three years.

Apple revenue in China falls 4% to US$14.5B over supply issues: Apple faces increased competition from Chinese brands, with Huawei leading the premium smartphone segment, and Xiaomi boosting its presence with the Xiaomi 17 series.

Anthropic opens first Asia office in Tokyo: The US-based AI startup aims to collaborate on AI evaluation methodologies and monitor trends in the field. The company has also joined the Hiroshima AI Process Friends Group, which seeks to promote safe and trustworthy AI development.

SEMICONDUCTOR

Samsung to build AI-powered chip factory using 50,000 Nvidia GPUs: The electronics behemoth said the AI megafactory will connect and optimise all stages of semiconductor manufacturing, including design, process, equipment, and quality control, using real-time AI analysis.

Nvidia becomes world’s first company to hit US$5T valuation: The company’s shares have risen 25% since January and are up 1,087% since the launch of ChatGPT in November 2022. Nvidia’s rapid growth has outpaced the S&P 500 index, which rose 68.9% in the same period.

Nvidia plans up to US$1B investment in AI startup Poolside: The coding automation startup in in talks to raise US$2B at a US$12B valuation. Nvidia’s involvement could begin with a US$500M investment, potentially rising to US$1B if Poolside meets its fundraising goals.

AI

Microsoft, NUS, AMD launch AI lab in Singapore: Supported by the Infocomm Media Development Authority, the lab will develop and test enterprise AI and IoT solutions for energy, infrastructure, transportation, and manufacturing. It will focus on improving energy, operational, and system efficiency using AI and edge computing.

Stop comparing AIs: How faithfulness builds clarity: AI is not just a product you use once. It’s a learning partner. Think of it like raising a child or teaching a student. You don’t switch teachers every week and expect the child to thrive. Growth comes from consistency.

What “retirement” (and AI) taught me about purpose: True freedom emerges not from escape but from building structure that gives purpose, aided by AI and self-designed systems. Structured freedom is about designing a life where your systems work for you — not the other way around.

From 15 days to 5: How AI is quietly rewiring the CFO’s role: AI-assisted finance is turning 15-day reporting cycles into five-day workflows, freeing teams to focus on strategy over spreadsheets.

THOUGHT LEADERSHIP

TikTok and the future of education: How Generation Alpha actually learns: Hour-long lecture videos, boring slideshows, and endless multiple-choice quizzes? They don’t match how Gen Alpha actually takes in information. The future is about good content, built with the same ideas that make TikTok work.

Fed cuts rates but warns against complacency: Bitcoin and altcoins react sharply: The Fed’s cautious rate cut has sparked risk repricing across markets, exposing crypto’s continued sensitivity to macro policy shifts.

Jun Pham on curiosity, creativity, and making tech human: Jun Pham is a B2B marketeer currently working at Alano.ai, which was built for people like her who did not come from tech but wanted to break into it one step at a time.

Why CSR must evolve: Building empathy and dignity in eldercare: Singapore’s ageing challenge demands a redesign of CSR, from one-off volunteer events to human-centred experiences that build empathy and dignity.

The real costs and timelines of launching a Singapore VCC: Launching a Variable Capital Company typically starts around US$29,200 for incorporation, legal, and regulatory fees, a fraction of what you’d expect in North America or Europe. Beyond savings, Singapore also brings several other perks.

The great decoupling: Bitcoin breaks from nasdaq as macro forces reshape crypto: Markets stay upbeat on US-China trade progress and AI momentum, but crypto dips 1.55 per cent ahead of a key Fed decision and rising volatility.

Unlocking Asia’s payments potential: The case for unifying fragmented policies: Coordinated regulation and partnerships are key for Asia to unify its fragmented real-time payments systems and boost cross-border trade.

A new ocean order: What startups and investors need to know about the High Seas Treaty: The High Seas Treaty is more than a conservation pact — it’s the legal architecture for a trillion-dollar ocean economy. Startups that understand how governance reshapes markets will lead the next frontier in climate and sustainability innovation.

The hidden costs of scaling too fast and how to avoid them: Scaling too early often leads to investments in tools, processes, or structures that the business cannot fully leverage yet. You end up with expensive software, overly complex hierarchies, or sales engines that outpace product readiness.

Real estate meets AI: Why property agents need to adapt before they fall behind: AI is reshaping real estate in Singapore, helping agents reduce confusion, improve transparency, and deliver more human, trusted experiences.

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Singapore-based Blue Whale Energy, a company providing a battery-powered virtual power plant (VPP), has raised US$2 million in a seed funding round, led by Forge Ventures.

Monk’s Hill Ventures, UntroD Capital Asia, Yamada Shokai, and several angel investors participated.

Also Read: How NEU Battery Materials is powering the circular economy for lithium

The company has also been accepted into the Energy Market Authority’s (EMA) VPP regulatory sandbox. This two-year initiative is designed to test how distributed energy resources can strengthen Singapore’s electricity grid.

Blue Whale Energy was founded by serial entrepreneur Gabriel Lim, whose previous venture, Y Combinator-backed AI startup Saleswhale, was acquired by Silicon Valley unicorn 6sense.

Blue Whale Energy focuses on developing and operating distributed battery systems tailored for commercial and industrial (C&I) customers. At the heart of the VPP are modular sodium-ion battery packs, which the company claims are a safer and more sustainable alternative to traditional lithium-ion systems. These assets are orchestrated by the company’s proprietary energy management system (EMS) and market integration software.

This vertically integrated structure enables the fleet of batteries to operate as a VPP. The system’s core function is to optimise charging, discharging, and market participation in real time, thereby supporting grid stability and accelerating the adoption of renewable energy.

Blue Whale Energy currently holds an EMA wholesale electricity licence and market participant registration. It is building a software platform designed for automated dispatch, market bidding, and asset performance management, which is underpinned by its growing network of distributed batteries.

The firm has already deployed 0.8 MWh of capacity and reports strong customer interest, with more than 20 MWh in its active pipeline within the last few months.

CEO Lim commented: “Battery energy storage has long been too expensive, complex, and difficult to monetise. Blue Whale’s vertically integrated approach changes that. By owning our hardware, software, and market layers end-to-end, we make storage simple, safe, and profitable–enabling customers to double the IRR of their solar installations.”

Also Read: Can Malaysia build a home-grown battery industry?

Tiang Lim Foo, co-founder and partner at Forge Ventures, said: “The energy transition is creating once-in-a-generation infrastructure opportunities, and Singapore as one of the most energy-progressive economies globally is at the forefront. Gabriel has a proven track record of building category-defining products, and we believe Blue Whale’s VPP platform addresses exactly what the grid needs: innovative solutions that manage stability while accelerating renewable adoption.”

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India presents a massive market opportunity driven by extreme climate vulnerability. As the 7th most climate-vulnerable country, it experienced extreme weather on 93 per cent of days in 2024, leading to 700 heatstroke deaths.

The economic cost of this heat risk is enormous, with US$141 billion of income lost in 2023 due to heat. Due to shifting climate patterns, India also grapples with 1.6 million deaths annually from air pollution and an extended dengue season lasting 5.6 months.

Also Read: India and Indonesia emerge as Asia’s power anchors for climate x health investment

These findings were revealed in a report titled ‘Unlocking Capital For Climate x Health: The Investment Landscape in Asia’, prepared by AVPN and Prudence Foundation, in partnership with Catalyst Management Services (CMS).

The Indian government has responded with significant policy mechanisms, creating investment targets for adaptation.

• NPCCHH and heat action plans: The National Programme on Climate Change and Human Health (NPCCHH) requires implementing climate resilience measures in health. This includes 37-plus Heat Action Plans (HAPs) at the city, district, and state levels focusing on health preparedness and early warning systems.
• Cooling mandates: The India Cooling Action Plan (2019) aims to reduce cooling demand by 30 per cent by 2037, promoting green jobs and efficient cooling technology.
• Digital health infrastructure: The Ayushman Bharat Digital Mission (ABDM) enables nationwide telehealth, AI diagnostics, and digital health records, providing the foundational digital infrastructure necessary for scalable health solutions.

Investable themes in the Indian Market

The confluence of high risk and policy direction makes several themes highly investable in India:

• Heat resilience and cooling: Nearly 70 startups focus on cooling, benefiting from national mandates.
• Parametric Insurance: Solutions like WRMS SecuRisk leverage satellite data and digital payments to provide instant payouts to farmers and outdoor workers, reducing disaster-driven health losses.
• Clean air technology: Companies like Devic Earth, offering air-as-a-service, capitalise on India’s US$1.7 billion National Clean Air Programme (NCAP).

While private climate-tech inflows have reached approximately US$4 billion since 2015, the US$1 million to US$3 million ticket gap remains challenging. Exit pathways are improving, however, with IFCAP (Innovative Finance Facility for Climate in Asia and the Pacific) guarantees and public procurement opening doors for refinancing early-stage ventures at lower cost via local commercial banks.

Also Read: Investors bet on algorithms and insurance to tame Asia’s climate-health crisis

This early momentum, combined with scale potential, positions India as a dynamic, albeit complex, frontier for climate x health capital.

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