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Singapore crypto adoption hits new high as 61 per cent now hold digital assets

Singapore’s cryptocurrency market has progressed beyond niche participation and is becoming an integral part of retail finance, according to a new report.

The report, which surveyed 3,513 active retail investors and members of the wider crypto-curious public in Singapore between 15 and 19 August 2025, found that 61 per cent of respondents reported holding crypto during the survey period. This level of participation indicates that the market has entered a new phase of maturity.

The Pulse of Crypto — Singapore 2025 survey report was jointly published by MoneyHero Limited and Coinbase Global.

Also Read: US$2.36 trillion: Asia Pacific becomes crypto’s growth engine

Key findings detail a measured and cautious approach among Singaporean crypto users:

  • The average self-reported portfolio allocation to crypto was modest, ranging from six to 12 per cent.
  • A strong “HODL bias” persists, with 58 per cent of respondents identifying as “long-term holders,” significantly outweighing the 22 per cent identified as “active traders”. (HODL refers to the practice of holding onto assets despite market volatility.)
  • Furthermore, 42 per cent of holders reported being invested for more than two years.

Trust factors dominate exchange selection

The data shows that trust has become the primary factor for users when selecting exchanges, underlining the importance of regulated, onshore platforms for Singapore-based users. Trust ranked highest at 65 per cent, while fees, which traditionally might be expected to drive platform choice, followed at 42 per cent.

While the report confirms expanded participation and cautious allocations, it also highlights vulnerabilities, including education gaps, concerns about volatility, and reliance on social media. The survey found that most respondents learned about cryptocurrency through social media (62 per cent), highlighting accessibility alongside a notable risk of misinformation.

To support responsible development, the report outlines three critical priorities for Singapore’s financial and crypto ecosystem:

  1. Education: Implement targeted initiatives to close knowledge gaps and reduce reliance on social media, including balanced content on risks, fees, and product features.
  2. Trust: Platforms must emphasise security, transparency, and compliance with applicable regulations to reinforce consumer confidence.
  3. Growth: Focus should shift towards inclusive access, diversified participation, and responsible, long-term allocation consistent with individual risk tolerance and regulatory compliance.

MoneyHero Limited operates as a leading tech- and AI-powered personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider, across the Greater Southeast Asia region. Its brand portfolios include SingSaver, Moneymax, and Seedly.

Also Read: Crypto’s crossroads: Tracking the surge in thefts, hacks, and violence

Coinbase is dedicated to promoting economic freedom by offering a secure platform for interacting with cryptocurrency assets.

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Starting small or going big? Small fund vs SPVs for emerging managers

Venture capital is a dynamic and competitive field that presents both challenges and opportunities for emerging fund managers. One of the pivotal decisions they face is whether to start with a small fund, typically less than US$10 million, or to explore sourcing and investing in deals through Special Purpose Vehicles (SPVs) with Limited Partners (LPs).

Each approach has its merits and considerations, and the choice depends on various factors unique to the manager’s goals, capabilities, and market conditions. In this article, we will explore both options and help emerging VC fund managers make an informed decision.

The small-fund approach

Advantages

  • Independence and control: Starting with a small fund allows emerging managers to maintain more autonomy and control over investment decisions. This can be particularly appealing for those who want to implement their own investment thesis without the influence of external LPs.
  • Flexibility: A small fund offers flexibility in terms of investment focus and strategy. Emerging managers can experiment with different sectors or niches without the pressure of managing a large pool of capital.
  • Learning opportunity: Managing a small fund can be an excellent learning experience. Emerging managers can refine their investment strategies, build a track record, and establish relationships within the industry before scaling up.
Challenges
  • Limited resources: A small fund typically has limited resources for conducting due diligence, sourcing deals, and providing support to portfolio companies. This can constrain the manager’s ability to access high-quality deals and support their investments effectively.
  • Scaling difficulties: Transitioning from a small fund to a larger one can be challenging. As the fund grows, emerging managers may face difficulties in raising additional capital and expanding their teams.
  • Risk of being overlooked: Small funds may not attract the attention of LPs or co-investors as much as larger, more established funds, potentially limiting their deal flow and networking opportunities.

Also Read: Why startup founders should look for sharks as mentors

The SPV approach

Advantages

  • Access to larger capital pools: Sourcing and investing through SPVs allow emerging managers to tap into the capital of larger LPs. This provides access to more significant deal sizes and the ability to participate in high-value transactions.
  • Risk sharing: By forming SPVs with LPs, emerging managers can share the risk of individual deals. This can be especially beneficial for those looking to mitigate the inherent risks associated with venture capital investments.
  • Networking opportunities: Collaborating with LPs on SPVs can facilitate networking and relationship-building within the industry. It can also provide opportunities for mentorship and knowledge exchange.

Challenges

  • Complexity: Managing SPVs involves legal, administrative, and compliance complexities that can be daunting for emerging managers. They may need to navigate intricate agreements and ensure compliance with regulations.
  • LP expectations: LPs participating in SPVs may have specific expectations regarding deal selection, performance, and reporting. Emerging managers must effectively communicate and manage these expectations.
  • Diversification: Relying solely on SPVs may limit the manager’s ability to build a diversified portfolio, which is a common goal in venture capital to spread risk.

The decision-making process

When deciding between starting with a small fund or leveraging SPVs, emerging VC fund managers should consider the following:

  • Investment thesis: Does the chosen approach align with your investment thesis and strategy? Ensure that your approach supports your long-term goals.
  • Network and relationships: Consider your existing network and relationships with LPs. If you have strong connections with potential LPs willing to engage in SPVs, this may be a viable path.
  • Resources and expertise: Assess your team’s capabilities, resources, and expertise. If you lack the resources to manage SPVs effectively, starting with a small fund might be more practical.
  • Risk tolerance: Evaluate your risk tolerance and the risk preferences of potential LPs. Some LPs may prefer the diversification offered by a small fund, while others may seek higher-risk, higher-reward opportunities through SPVs.
  • Long-term vision: Consider your long-term vision for your venture capital career. Starting small and gradually scaling up may be suitable if you aim for a sustainable, long-term presence in the industry.

Also Read: Angel investors vs Venture Capitalists for startup funding: Which is right for you?

The decision to start with a small fund or leverage SPVs as an emerging VC fund manager is not one-size-fits-all. It depends on individual circumstances, goals, and market conditions.

Both approaches have their merits and challenges. The key is to align your choice with your investment thesis, network, resources, and long-term vision. Remember that success in venture capital often hinges on adaptability and the ability to evolve as market dynamics change.

Whichever path you choose, the journey will be a valuable learning experience that can shape your career in this exciting and ever-evolving field.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

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A prettier you: How AI avatars make storytelling easier for midlifers

For many midlifers, the thought of making videos or presenting online comes with extra stress. It is not the speaking part that worries us. It is the preparation. Choosing clothes, getting the lighting right, touching up hair or makeup—sometimes that takes more time than the presentation itself.

Younger creators may find this fun. But for us, it often feels exhausting. Does every idea really need a full photo shoot and wardrobe change?

Enter AI generation

AI now makes it possible to create a “prettier” or “smarter dressed” version of yourself. With just a few tools, you can generate an avatar that looks like you, clone your voice so it speaks in your tone, and even dress your digital self in sharp professional outfits you don’t actually own.

It is not about faking who you are. It is about saving time, money, and energy. Why spend hundreds on new clothes for one video when AI can give you a polished look at the click of a button?

And let’s be honest. Your AI avatar never complains about bad hair days, wrinkled shirts, or unflattering camera angles.

More than vanity

This is not just vanity. It is about storytelling. Imagine presenting an idea where your AI avatar stands in front of a sleek stage background, speaking in your cloned voice, while animated visuals play behind you. Or turning your story into a short music video that brings energy and flair.

It is fun, it is creative, and it helps you share ideas in ways that catch attention. And yes, sometimes it is simply enjoyable to see your “digital twin” deliver the lines while you sit comfortably in your pajamas. I once tested an AI avatar in a crisp blazer and polished stage lighting while I was sitting at home in my old T-shirt. The result made me laugh, but it also made me realise how powerful and practical these tools can be.

Also Read: Beyond the inbox: How SEA startups can drive growth with AI-powered communication

Why it matters for midlifers

For midlifers, this is a game changer. No more worrying about “dolling up” for every online presentation. No more stressing over expensive photo shoots or feeling camera shy. AI can do the heavy lifting so you can focus on your message.

Instead of being held back by appearances, you can lean into creativity. Use AI to generate music, add animation, or experiment with storytelling formats you never thought possible.

A new world of storytelling

We are stepping into a new world where presentation, storytelling, and creativity can all be enhanced by AI. It does not replace your real self. It clears away the surface stress so your story, your voice, and your ideas shine through.

And this matters for the future of work. As more midlifers reinvent themselves in second careers, speaking, teaching, and content creation will become key. AI avatars and voice tools make sure you are not left behind. They make it easier to keep showing up, even when the mirror tells you otherwise.

Closing thought

So if you have ever hesitated to share your story because you did not feel “camera ready,” remember this. AI is ready for you. It can polish your look, smooth your voice, and even give you a stage you never had.

And as long as you are willing to try, it can be just as fun.

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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Why Cambodia is becoming Southeast Asia’s most underrated tech frontier

Canadia Impact Fund’s CEO Thierry Tea

While larger economies like Vietnam and Thailand often dominate Southeast Asian tech headlines, the burgeoning Cambodian startup ecosystem is rapidly demanding attention.

Home to just over 200 startups, Cambodia offers a landscape ripe for first movers and rapid technological adoption. The Canadia Impact Fund (CIFC) wants to be at the forefront of this growth and to back founders whose technologies can drive meaningful progress and help local industries scale to international standards.

In this interview, CEO Thierry Tea discusses CIFC’s strategic focus, the power of Cambodia’s digital-native youth, and why the country is poised to become one of ASEAN’s most dynamic emerging innovation hubs.

Prioritising impact and efficiency

CIFC’s investment strategy is explicitly designed to create long-term value for Cambodia’s economy and its communities. The fund prioritises five key sectors where innovation can directly improve the quality of life and strengthen national competitiveness: education, healthcare, logistics, technology and AI, and sustainability.

Also Read: Canadia Group enters venture investing with new impact fund, backs Jalat Logistics

The choice of these areas is often driven by current inefficiencies and potential for immediate improvement. For instance, costs in the logistics sector remain high compared to other regional markets, which present significant opportunities for efficiency gains through technology. This strategic focus is evident in the fund’s debut investment in Jalat Logistics.

While Cambodia serves as CIFC’s home base, its vision is regional. It actively seeks startups across ASEAN whose solutions can support Cambodia’s development, transfer knowledge, and introduce new capabilities.

Leveraging the digital generation

One of Cambodia’s most compelling advantages is its demographic profile: 65 per cent of the population is under 35, and internet penetration exceeds 80 per cent. This young cohort represents a digitally native, ambitious, and globally connected generation that forms the foundation for scalable businesses.

CIFC’s role extends far beyond merely providing capital; it aims to cultivate the next wave of Cambodian founders. The fund supports this generation by investing in startups that can scale with, and be powered by, young Cambodian talent. It collaborates closely with leading institutions, including CamTech University and Connexion innovation hub, to strengthen essential skills in AI, engineering, product development, and digital entrepreneurship.

Ultimately, CIFC seeks to connect these emerging founders with regional opportunities and international partners.

Pillars of the startup ecosystem

The health of any innovation hub depends on its supportive infrastructure, and Cambodia’s landscape is strengthened by local entrepreneurship hubs such as Techo Startup Centre and Impact Hub Phnom Penh.

CIFC actively participates in the ecosystem alongside these crucial institutions. Key players include Khmer Enterprise, which has supported over 900 grant recipients since 2020, and Techo Startup Centre, which delivers multi-week accelerator and digital platform programs vital for early-stage founders. CIFC complements the work of these organisations by sharing insights, engaging directly with founders, and supporting programmes designed to strengthen the early-stage environment.

Furthermore, the fund’s involvement extends internationally through collaborations with global partners, such as Plug and Play and Seedstars, which provide founders access to global best practices, networks, and new opportunities. The broader ecosystem is also advancing through initiatives such as Khmer Enterprise’s partnership with Seedstars, which is now entering its second cohort dedicated to increasing the investment readiness of Cambodian startups.

Also Read: Cambodia: A rising tech power in Southeast Asia

Additionally, Techo Startup Centre, in collaboration with UNIDO and NGIN, has completed two cohorts of the Global Cleantech Innovation Programme, fostering founders who develop innovative environmental solutions.

Integrating measurable impact

The global focus on impact-driven innovation, spanning greentech and inclusive finance, is central to CIFC’s mandate. For CIFC, impact is defined as “solving real problems for real people while building sustainable, scalable businesses”.

In the Cambodian context, this definition often translates into measurable outcomes related to accessible education, improved healthcare and wellbeing, digital and financial inclusion, more efficient resource usage, and supporting micro, small, and medium-sized enterprises (MSMEs) and communities as they enter the digital economy. Clean energy is also a critical focus, with solar power rapidly becoming an increasingly important part of the country’s electricity mix.

CIFC encourages founders to embed these measurable outcomes into their operations early on, viewing this not as a constraint, but as a “strategic advantage that strengthens resilience, trust, and long-term competitiveness”.

Dispelling misconceptions and attracting capital

Compared to more mature markets in the region, Cambodia remains at a foundational stage. However, this early stage creates a unique set of attractions for discerning investors.

Cambodia offers a rapidly growing digital economy, a young and dynamic workforce, improved infrastructure, and a business-friendly environment. Its early development stage creates significant room for experimentation, first movers, and rapid technology adoption.

Crucially for investors, startup valuations tend to be more attractive compared to those of regional peers, offering opportunities for those willing to engage at the grassroots level.

A common misconception held by foreign investors is that Cambodia lacks the necessary talent or ambition. CEO Tea is quick to counter this: “In reality, we see high-quality founders, many with international experience, developing products that show significant progress and clear potential to evolve toward regional standards.” While the ecosystem is young, its momentum is undeniable, and investors are starting to recognise this fundamental shift.

The ASEAN gateway

As ASEAN integration and capital mobility accelerate, Cambodia is strategically positioned to serve as a gateway or, more specifically, a flexible, fast-moving testing ground. Here, founders can validate solutions quickly and cost-effectively.

Also Read: Why it maybe the opportune time to consider Corporate Venture Capital

Sectors such as agri-innovation, logistics, healthtech, and AI-driven applications remain underpenetrated, generating substantial opportunities for impactful business models. With its improving infrastructure and young talent pool, Cambodia is attracting founders keen to test and refine solutions in a dynamic, fast-adapting market. Successful local models can then mature and create pathways for collaboration with regional partners.

CIFC is instrumental in supporting this regional ambition, assisting startups like Nham24 and BookMeBus, which are already scaling beyond national borders. Through Canadia Group’s networks and partnerships with regional corporates and global technology companies, the Fund helps founders connect across ASEAN, understand complex market-entry pathways, and facilitates access to specialised expertise in areas such as logistics, payments, engineering, and AI. The goal is to ensure Cambodian startups can engage confidently with regional ecosystems when the timing is appropriate.

Looking ahead five years, the aspiration is clear: for Cambodia to evolve from a peripheral market into a regional investment destination for institutional investors.

The desired headline for the future is: “Cambodia becomes one of ASEAN’s most dynamic emerging innovation hubs, as local startups strengthen their capabilities, and global investors increase their involvement”.

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Celebrating innovation and momentum across Asia’s startup and SME ecosystem

Asia’s innovation landscape continues to accelerate as startups, SMEs, and ecosystem partners across the region push forward with new breakthroughs in fintech, AI, creative tech, property, and enterprise solutions. These achievements reflect not only the growing maturity of the region’s tech ecosystem but also the steady rise of founders who are building products with global relevance. Every milestone shared represents more than just progress. It signals validation, customer traction, investor confidence, and the collective drive to shape the future of technology in Asia.

Sharing your milestone on e27 is one of the simplest ways for companies to increase visibility among fellow founders, potential investors, and the broader innovation community. Milestones help startups communicate traction, demonstrate momentum, and stay top of mind within the ecosystem. By posting regularly, companies also increase their chances of being featured in our milestone roundups and listicles, just like those highlighted below.

Create your company profile: https://e27.co/startupprofile
Post your milestone: https://e27.co/milestone/post/

Also Read: Celebrating innovation and growth from startups, SMEs, and investors in Asia

Below is a roundup of the most recent milestones posted on e27.

These milestones highlight the creativity, resilience, and technical progress shaping Asia’s startup and SME landscape. Milestones on e27 help companies communicate traction, celebrate wins, and stay visible to the community. If you want your achievements featured in our next listicle, you can create your company profile and start posting updates today.

Create your company profile: https://e27.co/startupprofile
Post your milestone: https://e27.co/milestone/post/

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Image: Canva

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Singapore’s e-commerce shift: Trust, not price, now drives loyalty

New analysis from leading consumer research firm Milieu Insight reveals that trust, reliability, and genuine value-adding enhancements are now the defining forces behind repeat purchases and long-term platform preference in Singapore, surpassing price alone.

This marks a decisive shift in shopper loyalty within the island’s mature e-commerce sector.

The findings, based on a study of online shoppers nationwide, provide critical insights for tech platforms operating across Southeast Asia, indicating that Singapore is emerging not just as a mature e-commerce market but as a model for trust-driven and value-based growth.

Accountability becomes a front-line metric

With nearly half of Singaporean consumers shopping online at least once a week, and one in ten doing so daily, expectations have evolved significantly as the market matures. Reliability has emerged as one of the strongest predictors of loyalty.

Also Read: Elevating your e-commerce strategies with livestreaming and hero products

The research found that 41 per cent of consumers consider trust in sellers or platforms a key factor when deciding where to shop. Moreover, over half of shoppers stated they would spend more with sellers who consistently provide reliable service and fast delivery.

Conversely, delivery performance has become a front-line differentiator. A significant 47 per cent of shoppers report they would actively avoid repurchasing after experiencing late, missing, or damaged orders.

This heightened expectation of accountability extends to the platforms themselves:

  • 86 per cent of respondents believe e-commerce platforms should ensure their delivery partners adhere to high standards.
  • 74 per cent prefer sellers who offer shipping that is fast, dependable, and cost-effective.

Furthermore, positive post-purchase experiences are crucial for reinforcing confidence. The study highlighted that 87 per cent of Singaporean shoppers were satisfied with their most recent return or refund, demonstrating that dependable after-sales support strengthens confidence and drives repeat engagement.

The integrity premium: Value beyond affordability

While affordability remains relevant, with 60 per cent of consumers citing discounts and free shipping as influences on their spending, actual value now incorporates transparency, service quality, and reliability.

Fairness and accountability are now central to how shoppers assess value. The data shows that 72 per cent of Singaporean shoppers prefer sellers that offer strong buyer protection and clear ratings.

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

Crucially, 43 per cent of consumers state they remain loyal even when prices are slightly higher, provided that platforms deliver clear policies and consistent service quality. This marks a shift where shoppers are swayed by the overall integrity and dependability of the experience, not solely by price.

When addressing fulfilment, delivery costs are cited by 57 per cent as the top area for improvement. The top three tenets of a good delivery experience are affordability (76 per cent), reliability (63 per cent), and flexibility of pick-up options (58 per cent). Hidden fees and unclear return terms, by contrast, quickly erode consumer trust.

Convenience and dependability are strong loyalty motivators, with easy returns (44 per cent) and one-click checkout (32 per cent) ranking highly for driving repeat purchases. Value-added benefits, such as loyalty points, vouchers, and subscription perks, are also key differentiators, cited by 30 per cent of consumers as influential in their purchasing decisions.

Practical innovation drives future loyalty

The study suggests that future innovation will be defined by practicality and purpose rather than novelty. Singaporean consumers favour tools that enhance control, simplify processes, and reassure them.

While emerging features are still gaining traction, they are already showing early signs of influence: chat support (16 per cent) and AI-powered tools (11 per cent) are slowly becoming influential.

Engagement with new features is particularly pronounced among younger digital natives (18–34-year-olds), with 38 per cent engaging with livestream shopping and 24 per cent interacting with AI-powered recommendations. These interactions are driving repeat engagement: 17 per cent of all shoppers are more likely to repurchase from sellers offering interactive tools, a figure that rises to one in five among younger consumers.

Juda Kanaprach, co-founder and Chief Commercial Officer at Milieu Insight, summarised the findings: “Singaporean consumers have raised the bar for what good e-commerce should look like. Today, trust, fairness, and clear accountability matter just as much as price.”

Also Read: High adoption, high rewards: AI could push regional e-commerce GMV past US$540B

He added that this represents a “fundamental shift: platforms are no longer judged only on promotions, but on the consistency and integrity of the experience they deliver”.

For e-commerce platforms, the message is clear: innovation rooted in trust, reliability, and real consumer value will define the next phase of e-commerce in Singapore. As Singapore’s shoppers continue to set higher expectations, they are helping define the region’s future standards for service-led digital commerce.

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Driving the future: How Auve Tech’s autonomous shuttles are reshaping urban mobility

In the evolving landscape of urban mobility, autonomous vehicles are emerging as a key solution to congestion, sustainability, and accessibility challenges. Estonia-based Auve Tech is at the forefront of this shift, developing level-four autonomous shuttles designed to bridge the gap between public transport stations and passengers’ destinations.

In a recent visit to the company’s headquarters in Tallinn, e27 spoke to Taavi Rõivas, ex-prime minister of Estonia and chairman of the board at Auve Tech. He explained how the company is leveraging the latest technology to create safer and more efficient transport solutions.

It began with understanding how the rapid increase in global car ownership poses significant environmental and infrastructural challenges. “Globally, we have 1.5 billion passenger vehicles,” Rõivas noted.

In Europe and the US, there are three cars for every four people, and if the rest of the world were to match this ratio, the total number of vehicles would need to increase to six billion. “Coming from Singapore, you understand very clearly that there is not enough room for the cars in traffic,” he said, highlighting the need for alternative transport solutions.

Public transport remains a fundamental solution, but traditional systems have limitations. “Public transport doesn’t take you where you want to go, but where the city planners have put the stations,” Rõivas explained.

Autonomous shuttles address this last-mile connectivity problem, offering a flexible and efficient way to reach final destinations from bus or train stations.

Also Read: Electrifying Southeast Asia: Unleashing the radical potential of electric vehicles

Technology and safety first

During our visit to the company’s headquarters, e27 sat in one of the Auve Tech shuttles and experienced riding in a residential area. The vehicle moved smoothly and was able to take turns without any issues.

Auve Tech has prioritised safety in its autonomous vehicle design. Unlike many companies, which adapt existing cars for autonomous use, Auve Tech builds its shuttles from the ground up.

“Building a vehicle to be autonomous allows us to do things that improve safety considerably. We can have doubled braking sensors, double steering controllers—critical infrastructure is at least double from the beginning, which means that the vehicle is a lot safer,” Rõivas said.

The company has achieved level-four autonomy in selected use cases, meaning the shuttles can operate without a safety driver under specific conditions.

“We have already received certification in Japan to drive without a safety operator,” Rõivas stated, although many other countries still require a human operator due to regulatory constraints.

Operating at a maximum speed of 40 km/h, the shuttles are not designed for long-distance travel but for efficient, short-range urban trips. “Technology is capable of driving much faster autonomously, but the faster you go, the higher the risks, and regulators around the world don’t want to take that chance,” he explained.

Auve Tech is actively expanding its footprint beyond Estonia. The company has secured projects in Finland, and its first commercial deal in the Middle East is underway with Masdar City, an innovation hub in Abu Dhabi.

“We just got the license plates in Florida,” Rõivas added, indicating their expansion into the US market.

Additionally, the company has found success in Japan, where the government is keen to adopt autonomous transportation solutions in ageing rural communities. “There are a lot of people aged 90-plus who do not drive themselves, and there just are not enough bus drivers,” he noted.

Singapore has also been on Auve Tech’s radar. “Singapore is one of the first, if not the first, countries in the world that has introduced a strategic plan for implementing autonomous driving,” Rõivas said.

Also Read: Clearbot maps and cleans the ocean using autonomous underwater vehicles

However, bringing the shuttles to Singapore requires significant preparation. “It probably takes us half a year of preparation. We need to bring at least one vehicle there and test it before we can start commercial operations. So for us, it is a matter of resource allocation.”

As part of its push towards sustainable transport, Auve Tech has also developed the world’s first hydrogen-powered autonomous shuttle.

“Hydrogen is also electric—the engine is still electric, but the electricity is created by hydrogen. We built the prototype three years ago, and it is fully functional,” Rõivas stated.

While electric vehicles remain dominant, hydrogen-powered solutions offer an alternative, particularly for regions seeking cleaner energy sources.

Future prospects

Despite technological advancements, regulations remain a significant barrier to widespread adoption. “The greatest barrier currently is the legal requirement to have a safety operator on board,” Rõivas said.

However, he anticipates that in “probably two years’ time,” more countries will allow fully autonomous operations, as seen in Japan.

Looking ahead, Auve Tech is set to launch a renewed shuttle model with enhanced autonomous capabilities. “This year, our main go-to markets are the Middle East and the US,” Rõivas revealed.

With regulatory landscapes evolving and cities increasingly seeking sustainable transport alternatives, the role of autonomous shuttles in global mobility is poised for rapid growth.

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How founder misalignment quietly erodes companies in the age of AI

Founder conflict has long been recognised as one of the top reasons startups fail. But in 2025, conflict is no longer the primary threat. Misalignment is.

Unlike conflict, which is loud, visible, and quickly addressed, misalignment is subtle. It emerges slowly: In priorities that no longer match, in decisions that create friction, in conversations that feel increasingly transactional. And the danger is that in today’s AI-accelerated operating environment, misalignment is easier than ever to overlook.

AI has automated the tasks, streamlined the workflows, and stabilised operations to the point where companies can appear perfectly functional, even when the founders are no longer building from the same place.

This dynamic is far more common than the ecosystem admits.

The drift: When founders grow, but not in the same direction

Having built multiple companies, I’ve seen how quickly alignment can shift even in partnerships that began with absolute clarity. The drift rarely comes from a single disagreement. It starts with micro-fractures:

  • One founder is losing enthusiasm.
  • Different interpretations of the future.
  • Uneven emotional investment.
  • Unspoken concerns about direction or focus.
  • Misaligned expectations around roles or contribution.

Individually, none of these seems alarming. Collectively, they create a slow erosion of trust, motivation, and leadership coherence.

Most founders assume alignment is “set at the beginning.” But alignment is not static. It evolves, and without conscious recalibration, it deteriorates.

Also Read: The hustle’s toll: Why some of Southeast Asia’s brightest founders are stepping back

Why misalignment is more dangerous than conflict

Conflict forces a conversation. Misalignment avoids it.

When something feels off but not urgent, founders tend to deprioritise the check-in. Work continues. Deliverables move. The business looks healthy. And yet, momentum begins to decline in ways that are not easily measurable:

  • Decisions take longer.
  • Meetings feel heavier.
  • Strategic clarity weakens.
  • Founders retreat into their own domains.
  • Culture becomes fragmented.

Profitability can even mask the issue. A company can be financially strong while internally stagnant.

That’s why misalignment is more insidious than conflict: It doesn’t feel like a problem until it becomes irreversible.

The AI paradox: Automation makes misalignment easy to ignore

One of the biggest shifts in founder dynamics today is the role of AI. AI has improved operational efficiency to the point where founders can run parallel workflows without real alignment.

This creates the AI Paradox: AI reduces friction, but also reduces communication.

Tasks get completed without discussion. Updates get automated. Politeness is maintained through templated responses. Execution continues without emotional engagement.

AI helps founders function, even when they’re fundamentally drifting apart.

This is operationally convenient, but strategically dangerous.

Left unchecked, AI can unintentionally amplify misalignment by keeping the company moving while the partnership weakens beneath the surface.

Founders need to recognise this as a new risk factor: AI accelerates execution, not alignment.

Purpose, motivation, vision, and partnership health remain fully human responsibilities.

The strategic cost of misalignment

When founders are misaligned, the company experiences a series of predictable consequences:

  • Direction becomes inconsistent. Product, marketing, and sales teams receive mixed signals.
  • Decision-making slows. Each choice requires more negotiation, more alignment, more explanation.
  • Leadership energy declines. When founders are unaligned, their conviction dilutes across the team.
  • Culture destabilises. Employees pick up on tension long before founders acknowledge it.
  • Growth stagnates. Companies stuck in alignment drift stop scaling, even if metrics look stable.

From a venture perspective, misalignment is one of the most underestimated internal risks.

Also Read: Hiring for hypergrowth? Here’s what founders keep getting wrong

A framework for realigning founder partnerships in an AI-driven era

To make alignment practical — not philosophical — founders need a structured approach. Here’s a model that I strongly recommend:

  • Quarterly alignment audit

Three essential questions:

  • Are we still building toward the same vision?
  • Do our priorities match the next phase of growth?
  • Are both founders equally motivated and empowered?

If any answer is unclear, the partnership needs recalibration.

  • Clarify motivational drivers

Founders differ. Some prioritise innovation, others stability, others ownership, others scaling. Motivations must be explicit, not assumed.

  • Define Non-Negotiables

Both founders should articulate:

  • What they need.
  • What they expect.
  • What they cannot compromise on.
  • This creates alignment guardrails.

Ensure communication is not just “heard” but understood

Acknowledgement (“got it”) is not alignment. Understanding requires reflection, synthesis, and shared interpretation.

  • Use AI as a diagnostic tool, not a replacement for difficult conversations

AI can highlight sentiment shifts, operational imbalance, or workload discrepancies. But founders must handle the alignment conversation themselves.

What founders should remember

Alignment is not a sentimental concept — it is strategic infrastructure. In a market where AI has made execution faster and founder bandwidth thinner, alignment is no longer a soft skill. It is a competitive advantage.

Companies don’t lose momentum because their models stop working. They lose momentum because their founders stop building in the same direction.

Misalignment does not announce itself. Founders need to make alignment a practice.

Because AI can automate the work, only aligned founders can build the future.

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Two in five Singapore employees feel watched at work; AI fears intensify

Singapore ranks among the most heavily monitored workplaces in the world, with new data indicating a growing concern over artificial intelligence (AI) and increased surveillance across offices, hybrid setups, and digital work tools.

According to ADP’s People at Work 2025 report, 41 per cent of employees in the island nation say they feel constantly monitored, placing the country fifth globally among 34 markets surveyed. Only Egypt, Nigeria, Thailand, and India reported higher levels of workplace surveillance.

Also Read: The future is skills, not jobs

ADP’s findings suggest a growing connection between employee stress and the expansion of AI-driven or digital monitoring tools, which are increasingly integrated into HR systems and productivity platforms.

Workers feeling watched and worn down

Singapore’s figure is nine percentage points above the global average, underscoring how local employees are facing stronger pressure around productivity tracking and hybrid work accountability.

Globally, ADP found that workers who feel constantly monitored are:

  • Four times more likely to be among the least productive
  • Three times more likely to report stress

This mirrors concerns across several Southeast Asian markets, where rapid digitalisation and performance technologies are reshaping how employees perceive workplace fairness and privacy.

AI uncertainty rising, especially among younger workers

Beyond surveillance, the report highlights growing unease about the role of AI in shaping future jobs.

In Singapore:

  • 19 per cent of workers say they are unsure how AI will affect their roles
  • This is nine percentage points above the Asia-Pacific average

Knowledge workers — including programmers, academics, and creative professionals — reported the highest anxiety levels, approximately twice that of skilled task workers.

Younger adults aged 18 to 26 were the most unsettled age group, with 23 per cent expressing concern that AI may alter or threaten their future roles.

Trust becoming a key business factor

Jessica Zhang, Senior Vice President, ADP APAC, said organisations must rethink how they introduce new technologies. “Technology and talent are evolving in tandem and the rise of AI and hybrid work is redefining how employees experience trust, purpose, and productivity.”

Also Read: Surviving a recession: How to navigate layoffs and come out stronger

“To navigate this new landscape, organisations must deploy AI and other workplace tools responsibly – ensuring they support rather than strain the workforce. When businesses align digital transformation with clear communications and employee wellbeing, they build stronger trust, engagement, and sustainable performance,” she added.

Zhang’s comments reflect the growing calls across industries for clearer governance of employee data collection and the responsible use of monitoring technologies.

Why this matters to Southeast Asia

The report’s findings come as Southeast Asian companies rapidly integrate AI into workflows, from customer service automation to internal analytics. At the same time, hybrid work models have pushed employers to adopt tighter digital oversight for attendance, productivity, and compliance.

For Singapore, a regional hub for knowledge work and tech talent, the tension between innovation and worker wellbeing is becoming a central issue for employers navigating digital transformation.

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ArmourZero raises strategic capital to scale automated vulnerability management across Asia

ArmourZero co-founder and CEO Tho Kit Hoong (L) with Tunku Syed Razman Ibni Tunku Syed Idrus Al Qadri

Malaysia-based cybersecurity firm ArmourZero has secured an undisclosed strategic angel investment from YTM Colonel (H) Tunku Syed Razman Ibni Tunku Syed Idrus Al Qadri.

Razman, who chairs the Malaysia-Saudi Arabia Business Council, is known for his experience in cross-border partnerships across Asia and the Middle East. The company stated that the investment will enable it to expand into markets in ASEAN, North Asia, and West Asia, where cybersecurity risks are escalating alongside the rapid adoption of AI.

Also Read: Embracing unity: A celebration of diversity and inclusion at ArmourZero

Razman’s involvement will support its plans to grow in markets prioritising digital resilience.

AI-generated code is speeding development and introducing new risks

AI is now embedded in mainstream software development. According to ArmourZero, 84 per cent of developers use AI-generated code, nicknamed “vibe coding”, to speed up development cycles. But this acceleration is also creating new security challenges.

A 2025 study by Schreiber & Tippe, which examined 7,703 AI-generated code files, identified more than 4,200 distinct vulnerabilities across 77 types of weaknesses. Python-based code showed the highest exposure, with vulnerability rates reaching 18 per cent.

These findings suggest that as AI tools generate more production code, the risk of exploitable flaws being introduced into software systems increases significantly.

AI also reduces breach costs — when used defensively

At the same time, AI offers meaningful defensive benefits. IBM’s 2025 Cost of a Data Breach Report found that organisations using AI and automation in their security operations reduced average breach costs by up to US$1.9 million compared to companies that did not.

This widening gap between AI-driven vulnerabilities and AI-enabled defence explains why the cybersecurity industry is under pressure to modernise its tooling.

Co-founded in 2022 by cybersecurity expert Tho Kit Hoong and tech innovator Chong Wai Lun, ArmourZero positions itself as an automated vulnerability management (AVM) platform.

The platform provides real-time vulnerability discovery across applications, web domains, and cloud infrastructures. It provides AI to accelerate remediation through intelligent suggestions and advanced false-positive detection. This enables the software developer teams, risk teams, and cybersecurity teams to collaborate closely, focus on genuine threats and resolve them more efficiently.

Also Read: Cybersecurity in the AI age: How startups can stay ahead

ArmourZero plans to launch an API security solution this month. The firm says the tool will automatically detect and remediate API-related vulnerabilities — a category increasingly viewed as one of the most common and costly sources of breach incidents.

In February this year, Gobi Partners announced an undisclosed strategic investment in ArmourZero, a cloud-based cybersecurity platform based in Malaysia.

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