Pawprints Inspired, an insect-based pet food company in Indonesia, has received US$1.7 million in funding led by Creative Gorilla Capital (CGC), a collaboration between Future Creative Network and Vynn Capital.

Altrui (Japfa Comfeed Family Office), Tujuh Bersaudara Investindo (Tigaraksa Satria Family Office), and several individual investors participated.

In addition, Pawprints Inspired also acquired an unnamed Japanese pet food company to expand its portfolio.

Also Read: From pet abandonment to pet care ease

Formulated in accordance with AAFCO (the Association of American Feed Control Officials) standards, Pawprints Inspired is a nutrition company supporting the digestive health and overall well-being of pets. It harnesses the power of the superfood insect protein (black soldier fly) to offer quality novel protein that is hypoallergenic, along with essential amino acids and minerals crucial for the health of cats and dogs. The products are available on Tokopedia and Shopee platforms and can also be found offline in select pet shops.

Founder and CEO Jacqueline Sulistyo said: “Pawprints Inspired creates pet foods that are nutritious and biologically appropriate for better animal welfare. Our focus is on innovation, like our insect-based Pawprints products featuring organically farmed Black Soldier Fly, hormone-free with complete proteins, prebiotics, and antimicrobial properties. As a holding group, Pawprints Inspired will continue to develop products and new business areas that support pet digestion and immunity.”

Since its launch in June 2023, Pawprints claims to have recorded a monthly sales growth of over 4.6x, expanded its network in 11 major cities, and made its products available in over 500 offline stores in Indonesia.

Also Read: How telemedicine can revolutionise the veterinary world?

In February 2024, Pawprints is set to launch its insect-based dog food product.

Research on Pet Care in Asia Pacific conducted by Euromonitor indicates a growing impact of the pet humanisation concept on consumer buying behaviour in Indonesia. The rise in income and demographic changes have shifted pet owners’ perspectives from mere ownership to pet parenting, now considered part of the family. This has spurred demand for products that support pet well-being.

Data from Growth Market Reports estimates sustained growth for the pet food market in Indonesia at US$2.09 billion in 2022, projected to exceed US$4.73 billion by 2031, with a CAGR growth of 9.5 per cent during the forecast period 2023-2031.

The post Indonesia’s insect-based pet food company Pawprints Inspired bags US$1.7M financing appeared first on e27.

Vietnam has the fastest digital economy growth rate in Southeast Asia in 2023 and will continue to be one of the fastest-growing Digital Economies in the period 2023-2025.

On November 6, Google Corporation, Temasek Company, and Bain & Company released the 8th Southeast Asia Digital Economy Report. This report updates the Digital Economy trends of six countries including Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam.

Despite fluctuations in the global macro economy, the report shows that the region’s gross merchandise value (GMV) continues to increase and is expected to reach US$218 billion, up 11 per cent over the same period last year. (YoY).

The report also shows that revenue from the Digital Economy of Southeast Asia is expected to reach US$100 billion this year.

Vietnam leads in digital economy growth

The report clearly shows that Vietnam has the fastest Digital Economy growth rate in Southeast Asia for the second consecutive year (2022 and 2023) and is forecast to continue to hold this position in 2025 ( tied with the Philippines).

Vietnam’s gross merchandise value (GMV) is expected to reach a compound annual growth rate (CAGR) of 20 per cent, from US$30 billion in 2023 to nearly US$45 billion in 2025. GMV growth in the two Next years will be led by e-commerce and online travel.

Also Read: 

E-commerce in Vietnam will increase by 11 per cent from 2022 to 2023 and the compound annual growth rate (CAGR) is expected to increase by 22 per cent by 2025, aiming for a total merchandise value of US$24 billion this year. 2025.

The tourism industry is forecast to fully recover this year, mainly thanks to the strong growth of domestic tourism. Online travel has grown 82 per cent in the past year and is expected to grow by 21 per cent compound annual growth rate (CAGR) from 2023 to 2025, with a GMV expected to reach US$7 billion.

Also according to the report, other important sectors that continue to grow and contribute to promoting Vietnam’s Digital Economy include the Transportation and Food industries (Food Delivery Services) and Online Media.

This sector has grown by 10 per cent from 2022 to 2023, CAGR is expected to increase by 16 per cent from 2023 to 2025 and is forecast to reach US$4 billion by 2025.

The online media sector in Vietnam increased by 11 per cent in the period 2022-2023, with GMV expected to reach US$7 billion in 2025 with a compound annual growth rate of 15 per cent in the period 2023-2025.

Digital payment in Vietnam is exploding

According to the report, Digital Financial Services (DFS) are growing rapidly compared to initial growth and Vietnam has the fastest-growing Digital payments in Southeast Asia in 2023.

The irreversible shift from offline to online behaviour continues to drive Digital Financial Services (DFS) adoption forward.

While the adoption rate of Digital Payments in Southeast Asia has reached 50 per cent, Vietnam is also driving this trend and will become the fastest-growing country in Digital Payments, increasing by 19 per cent from 2022 to 2020. 2023 and will continue to grow at 13 per cent CAGR in the period 2023-2025.

Also Read: 

Digital Payment in Vietnam will continue to grow thanks to strong support from the Government, investment activities of commercial banks, and the popularity of QR codes. This trend is forecast to accelerate when the State Bank encourages non-cash payment services in rural and remote areas.

Mr. Marc Woo, Managing Director, in charge of Vietnam for Google Asia – Pacific shared: “Vietnam’s Digital Economy is developing in the right direction. Google will continue to comprehensively support the Digital Economy National Number, through many programs across the country, promote Vietnam’s technology startups, and invest in local talent from basic training to students and workforce through the Human Resources Development Program digital resources to provide in-depth training for technology startup leaders.”

Digital engagement needs to expand to enable the next wave of growth.

While digital inclusion has made significant strides in Southeast Asia over the years, when it comes to digital participation– active participation in the digital economy through consuming products or services in many sectors, consumers in areas outside of major urban areas are at risk of experiencing a growing digital divide.

Hanoi, Ho Chi Minh City, and Da Nang are the top three major cities in terms of digital engagement in Vietnam, but this gap is widening in areas outside the major cities. In particular, rural areas are more vulnerable to challenges from economic actors.

Also Read: 

Addressing these gaps is a shared responsibility across many actors in the digital economy. Besides, removing barriers, such as supply and security issues, can also improve the participation of low-spending groups and help Vietnam’s digital economy achieve its growth goals.

Increasing operational efficiency and improving user experience will be key for businesses to achieve profitable growth, and AI can help make this happen.

New technologies like AI can benefit both businesses and consumers in a variety of ways. Benefits include improved operational performance in the areas of inventory management and route optimization while driving deeper digital engagement and engagement through Personalized content recommendations in online communications. AI can also play an important role in detecting and preventing fraud, increasing security for both merchants and consumers.

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e27 has been dedicated to nurturing a supportive ecosystem for entrepreneurs since its inception. Our Contributor Programme offers a platform for sharing unique insights.

As part of our newly introduced ‘Contributor Spotlight’, we shine a weekly spotlight on an outstanding contributor and dive into the vastness of their knowledge and expertise.

This episode features Viktor Kyosev, Chief of Staff at Docquity, a Series C healthtech startup. He also wears the hat of Entrepreneur in Residence at BigBang Angels, a South Korean VC firm.

Kyosev, a contributor since 2021, consistently covers diverse topics, emphasizing Web3 sector developments and startup growth. His contributions have garnered over 32,000 views.

Kyosev shares his personal and professional journey in this episode of Contributor Spotlight.

The driving force

Kyosev reflected on a quote that struck a chord with him: “If you’re overthinking, write. If you’re underthinking, read.” This sentiment held a deep resonance for him. He expressed that his inherent motivation to share insights arises from his dual roles as an enthusiastic reader and a builder, yielding a wealth of knowledge.

How it all began

Kyosev reflected on a journey that began 12 years ago when he left Bulgaria for Denmark with US$500. He viewed this move as a natural progression despite scepticism. Financial challenges in Denmark included obtaining BA and MA degrees, starting businesses, and connecting globally.

Afterwards, he moved to Southeast Asia, settling in Singapore. Throughout this decade-long journey spanning seven countries, his focus on startups remained. In Singapore, Kyosev channels insights into content creation, concentrating on Southeast Asian startup dynamics.

Kyosev shared, “I hesitate to label myself an ‘expert,’ but I frequently pen thoughts on early-stage startups, the journey from 0 to 1, sales, marketing, and navigating business in Southeast Asia. Recently, I’ve been delving into longevity and preventive health.”

Advice for budding thought leaders

Kyosev’s acknowledgement as a ‘Top Voice in Entrepreneurship’ on LinkedIn underscores the value of his insights. He shares lessons derived from his journey.

Consistent posting offers dual benefits:

• It hones your skills
• It plays well with most platform algorithms.

Kyosev shares what he has learned and practised:

• Support squad: I’ve connected with nine individuals with similar audience-building goals. We boost each other by engaging with likes and comments daily. This initial push can amplify a good post’s reach significantly.
• Engage more, gain more: I’ve garnered a supportive community in return by actively commenting on others’ content.
• Interact and connect: Always respond to comments. Meet with your followers in person; it strengthens the bond.
• Regular review: Every quarter, I assess my posts. Which narratives clicked? What topics resonated? How did the format influence engagement? This helps refine my approach.

His winning formula:

• Succinct posts.
• The bullet-point style for clarity.
• Direct, relatable language stemming from my startup journey.
• Weaving in compelling stories.

Idea repository:

I also maintain a structured bookmark folder on Twitter, categorising inspiring tweets. This treasure trove often sparks more detailed content ideas.

Staying in the loop

“I am very selective about who I follow online, so my Twitter feed is well-curated. Beyond this, I immerse myself in roughly 20 books each year and regularly tune into insightful podcasts,” Kyosev shared about staying informed.

Kyosev also offers podcast recommendations, including My First Million, Acquired, Founders, Invest Like the Best, All-In, The Tim Ferris Show, Lenny’s Podcast, Everything by Naval, and Huberman Lab.

“Like many pursuits in life, practice makes perfect. Dive in and start writing. Surround yourself with inspiring voices, analyse their styles, and don’t hesitate to borrow ideas initially while you find your unique voice,” says Kyosev.

In conclusion, Kyosev advises individuals to solidify their presence in one area before branching into various topics. He emphasizes that establishing a foundation first will pave the way for easier expansion of horizons.

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Are you ready to join a vibrant community of entrepreneurs and industry experts? Do you have insights, experiences, and knowledge to share?

Join the e27 Contributor Programme and become a valuable voice in our ecosystem. 

The post Spotlighting Viktor Kyosev: Nurturing insights in Southeast Asian startup dynamics appeared first on e27.

Indonesia’s VC industry has experienced a significant transformation in recent years, with the past 12 months witnessing a market recalibration mainly driven by global macroeconomic headwinds, according to a new joint report by AC Ventures and Bain & Company.

While deal flow picked up quickly in 2021, increasing macroeconomic uncertainty urged caution in investing momentum, and the spillover effect from H2 2022 saw a lower number of deals and a decline in deal sizes.

The Indonesia Venture Capital Report 2023 offers deep insights into the industry’s prevailing trends, challenges, and future outlook.

Also Read: Wealthtech, insurtech, SaaS fintech are the new hot verticals in Indonesia: AC Ventures report

Despite a degree of cautious optimism at that time, projections for 2023 are now sobering, with an anticipated 70-80 per cent decline in deal value compared to the preceding year. The funding pace in 2023 remained sluggish through Q3, standing at 0.3x compared to Q3 2022.

While the year has been challenging for the VC sector, the overall growth outlook is positive, given that the Indonesian VC landscape is becoming more mature. Following the surge in VC investments driven by rebounding investor confidence during 2020-2021, investors are now more measured and rational in their approaches.

The report highlights a significant shift in investor priorities, emphasising startups that showcase strong unit economics, leaner valuations, and clear paths to profitability. This is further evidenced by the declining conversion rates from seed to Series A/B funding rounds.

One of the standout insights from the report is Indonesia’s resilience against global trends. While the global VC deal value declined by 20-40 per cent, Indonesia maintained a stable VC deal value in 2022 on a year-over-year (YoY) basis at US$3.6 billion. Further, the archipelago registered a 20 per cent YoY increase in deal volumes in the same year.

Attractive macroeconomic fundamentals suggest that Indonesia remains a bright spot in the region and will provide a favourable climate for startups. With a young and burgeoning middle class, Indonesia’s GDP per capita grew by 4.6 per cent in 2022. Household consumption, a significant economic driver, accounted for 55.6 per cent of the GDP. The digital economy is on an upward trajectory, reaching a notable US$77 billion in 2022.

For Indonesia to stay on its growth trajectory, it must navigate macro headwinds such as the ongoing US-China tensions, the upcoming 2024 elections, increased pressure on major tech players to achieve profitability, and the evolving regulatory landscape.

The report also provides deep dives into key investment themes. While platform-based businesses in sectors like e-commerce and mobility dominated pre-2020, there was a discernible shift toward fintech subsectors and new retail models such as direct-to-consumer (D2C) during 2020-2022, mainly driven by the rapid increase in digital adoption during the Covid-19 pandemic. The emerging investment themes for 2023 and beyond point toward an increased focus on ESG, climate tech, electric vehicles, health tech, and D2C brands.

Also Read: Indonesia needs more female investors willing to back female founders: Helen Wong of AC Ventures

On the exit outlook, the traditional preference for trade sales gives way to a rising trend in initial public offerings (IPOs). However, market pressures and a post-2022 funding environment could dampen spirits around mega-IPOs.

The report suggests an imminent upswing in Indonesia’s VC industry. Early-stage deals, especially in burgeoning sectors like electric mobility and healthcare, are expected to dominate VC activity soon. Late-stage startups will likely update their strategies, emphasising profitability above all else. Global investors are optimistic about Indonesia, with the digital economy projected to touch US$360 billion by 2030 and initiatives like the IDXCarbon launch signalling Indonesia’s commitment to a net-zero future.

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The post Indonesia’s VC space sees resilience, signals imminent upturn in 2023 appeared first on e27.

On the culmination of its 2023 edition on November 9, startup competition X-PITCH named REVIVO BioSystems as the Deeptech Startup of the Year award winner.

The competition’s final round at the National Gallery Singapore showcased 10 finalists handpicked from a pool of over 3,000 startups globally. It aims to provide a platform for converging cutting-edge ideas and entrepreneurial brilliance, captivating a packed audience. The pinnacle of the event was the recognition of four groundbreaking deep-tech startups, each set to receive a substantial total investment of US$1 million.

Deeptech Startup of the Year REVIVO BioSystems specialises in realistic 4D human tissue testing models. These models not only replicate the intricate functions of the human body, including blood flow but also eliminate human error from the sampling process. According to the competition, the innovation displayed by REVIVO BioSystems has the potential to revolutionise medical research and testing methodologies.

The Best Advanced Manufacturing Startup award went to Augmentus, a company at the forefront of advancing manufacturing processes through innovative technologies.

Meanwhile, REVIVO BioSystems secured another victory, claiming the Best Healthcare Startup title. This is an acknowledgment to its transformative contributions to the healthcare industry.

Also Read: Runa Capital plans to propel Asian deep tech startups onto the global stage

Simple Planet emerged victorious in the sustainability sector as the Best Sustainability Startup, showcasing the increasing importance of environmentally conscious solutions in the startup landscape.

Recognising excellence in the digital economy, Kodifly claimed the Best Digital Economy Startup award.

The event also highlighted standout performances in the pitch competition, with Qmed Asia crowned as the Number Pitch Champion and SoBanHang earning the esteemed People’s Choice award for their pitch.

K. Yu, the Organizing Committee Chair of X-PITCH 2023 and Founding Partner of XCEL NEXT, said in a press statement, “At X-PITCH, we redefine startup competition every year, transforming it into the X Games of innovation. This year, we took it to the water! X-PITCH is not just an event, but a journey into the extraordinary.”

In hosting the event, X-PITCH 2023 works with supporting organisations A*StartCentral, Enterprise Singapore, and IMDA, emphasising the collaborative effort that made the event successful.

It also works with co-host e27 and co-organisers Block71 Singapore, BSSC, Cool Japan Fund, DOST-PCIEERD, HKSTP, HUB.ID, KOVA, MDEC, TA, TINVA, TusStar, and VITTBI. The event is sponsored by AIOX Apex Angel Fund, Foxconn Technology, Media OutReach Newswire, Quan Ding Consulting, and Yulon Motor.

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Image Credit: X-PITCH

The post X-PITCH 2023 crowns REVIVO BioSystems as deeptech startup of the year in the global startup showdown appeared first on e27.

Singapore-based BeeX, which provides autonomous robotics solutions to safeguard underwater infrastructure, has closed a US$2 million bridge funding round.

Earth Venture Capital and ShipsFocus Ventures co-led the round, with the participation of SEEDS Capital, NUS Technology Holdings, and Infinita VC.

Also Read: Why robotics is just entering its prime phase

The startup will use the funds to accelerate BeeX’s go-to-market for autonomous offshore wind farm inspections in Europe.

BeeX is the developer of the Hovering Autonomous Underwater Vehicle (HAUV) — A.IKANBILIS. Its robots and software solutions help energy developers, ship owners, and governments save costs to inspect their critical structures and protect their people from risky operations.

By the end of 2024, BeeX aims to launch the next-gen HAUV, BETTA, to address the demands of offshore wind inspection. The startup claims BETTA will have 10x greater power, 3x more endurance and 4x higher computing prowess. The system will leverage the fast iteration of autonomy on its smaller sibling, A.IKANBILIS.

To date, BeeX has changed how ship hulls, underwater infrastructures, and floating solar inspections are conducted in Singapore, along with the solid tractions in Germany, the Netherlands, and the US.

Also Read: We see prevalence of robotics, IoT solutions across the globe: SIMPPLE CEO

“Our customers have reported up to 95 per cent less CO2 emission, 50 per cent lower risk-to-life, and 10x better efficiency compared to conventional methods,” claimed Grace Chia, CEO and Co-Founder of BeeX.

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Image Credit: BeeX.

The post BeeX scores US$2M to accelerate autonomous inspection of offshore wind farms appeared first on e27.

Tech companies in Southeast Asia secured US$684 million across 36 rounds in October 2023, according to a report by startup research platform Tracxn. This is a 205 per cent jump over the total investments raised in September and a 5.26 per cent drop from October 2022.

Also Read: Fintech investments in SEA see record drop in Q3: Tracxn

Seed-stage rounds dominated the overall deals with 22 deals, followed by early-stage (13) and late-stage rounds (4). In terms of the deal size, Investree topped the chart with a US$231 million raise, followed by Gojek (US$150 million), Qosmosys (US$100 million), YouTrip (US$50 million), and Inteluck (34 million).

See the infographic below for more details:

 

The post Startup investments in SEA in Oct see 205% jump over previous month: Tracxn appeared first on e27.

Despite the prevalence of the fintech industry in Southeast Asia (SEA), women are revealed to hold just 13 per cent of management, board, and investor roles across the fintech ecosystem. This finding was revealed in a study titled Taking Stock & Looking Ahead: Gender Diversity in Southeast Asia’s FinTech Landscape by Russell Reynolds Associates (RRA), a global leader in board leadership and executive search, in collaboration with the Singapore FinTech Festival (SFA).

The findings of this study shed light on the gender disparities prevalent across various levels of the fintech ecosystem in SEA.

Delving deeper, the study revealed that the representation of women is higher at earlier-stage companies (Series A to C), standing at 16-18 per cent in management roles. However, this percentage declines to 11 per cent in Series D and drops even further to 10 per cent in public companies.

Interestingly, regarding board representation, the percentages are comparatively higher for Series D and public companies, at 15 per cent and 24 per cent, respectively.

SEA’s fintech landscape is dynamic, driven by growing economies and expanding populations. The region has witnessed a fourfold increase in fintech deals from 2015 to 2022, reaching a pinnacle in 2021. With such robust growth, private capital, particularly venture capital (VC) and private equity (PE), holds significant influence.

Also Read: Unlocking green fintech prosperity in Asia: Navigating the top 4 challenges

If these investment entities prioritise diversity, equity, and inclusion (DEI) in their portfolios, they can wield a transformative impact on leadership and management practices in the region.

The study further revealed that only 33 women founders or CEOs are identified across SEA fintech companies, constituting a mere nine per cent. Post-Series-B funding, this number dwindles to just six per cent, highlighting the challenges women face in attaining leadership roles as companies mature.

Notably, gender diversity at the investor level mirrors that at the management level. Women comprise an average of only 14 per cent of lead partners on deals, showcasing a need for increased representation and opportunities for women in decision-making roles.

The study offers valuable insights into potential solutions for enhancing gender diversity in fintech leadership.

Role modelling emerges as a crucial factor, emphasising the importance of visible diversity in inspiring and encouraging others. The study also underscores the significance of mentorship and a supportive network for women leaders.

Overcoming self-confidence and self-promotion challenges is identified as a common struggle among women leaders in the fintech sector.

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Image Credit: RunwayML

The post Navigating the gender divide in the Southeast Asia’s fintech landscape appeared first on e27.

(This article was first published on October 27, 2021)

In Indonesia’s male-dominated logistics-tech industry, a woman Muslim entrepreneur is making waves. Anggia Meisesari, a mother, is the co-founder of TransTRACK.ID, a next-generation fleet management startup, recently bagged ~ US$550,000 in a seed financing round led by Cocoon Capital. The Indonesian Women Empowerment Fund (IWEF) also joined the round.

TransTRACK.ID, co-founded in 2019 by Meisesari (CEO) and Aris Pujud Kurniawan (CTO), has already secured partnerships with hundreds of fleet operators across 77 cities in the archipelago.

But running a business and achieving milestones has never been a cakewalk, according to her. However, she has so far been successful in managing her personal and entrepreneurial life. “Finding a work-life balance is the key,” she says.

In this interview, Meisesari speaks about TransTRACK.ID, the challenges she faced, and how she has found a good work-life balance.

Edited excerpts:

Excerpts:

In the past, you worked in the IT, automotive and GPS industries for over ten years. When did the entrepreneurship bug bite you?

I gained substantial expertise in IT, vehicle telematics and IoT working over the last 20 years. Before founding TransTRACK.ID, I was the Indonesia country manager and sales director for a reputable fleet telematics company.

Based on my previous work experience, I found that of the 62 million commercial vehicles in Indonesia, only two per cent are connected to a fleet management system (FMS). Without an FMS, fleet managers have limited oversight of their fleet that adds to a range of issues, including higher maintenance and fuel costs, poor service delivery, theft, misuse of vehicles and frequent accidents.

Also Read: Indonesian logistics tech startup Waresix adds US$11M more to its war chest

Together with my co-founder Kurniawan, we built TransTRACK.ID, an all-in-one fleet telematics solution to help the logistics industry optimise fleet operations. Our ultimate mission is to make Indonesia’s roads safer and more efficient.

Indonesia is already home to several logistics-tech players. How does TransTRACK.ID stand out from its competitors?

There are 154 million vehicles on the roads in Indonesia facing problems, such as late deliveries, aggressive driving behaviour, rising fuel costs, etc. Only a small per cent of them have integrated telematics into their system, and almost 80-90 per cent don’t have one.

While there are several players out there, the market is so vast that there is still a significant market opportunity to tap. We focus on land transportation because the Indonesian logistics market is expected to reach US$303 billion by 2024.

What makes us stand out is that we’re not focused on selling devices. We have built an integrated, all-in-one solution based on a fleet management system. One USP of TransTRACK.ID’s platform is that it is compatible with more than 1,000 types of GPS devices available in the market, and it is easy to integrate. Vehicle operators can connect the device with our platform. They only pay a fee for the platform.

TransTRACK.ID is also the first fleet telematics provider in Indonesia that offers accident compensation via our platform. This means if a vehicle with our device installed with its system meets with an accident, the driver and passenger will get compensation for death or permanent disability or will be provided with other medical expenses.

How many paid users do you have?

We have more than 3,000 paid subscribers and are growing over 30 per cent month on month. This growth has been possible only because our customers have seen a 10-20 per cent increase in their productivity and utilisation and a 15-30 per cent reduction in overtime, fuel and labour cost.

What has been the biggest challenge for TransTRACK.ID?

The logistics sector, traditionally averse to change, is now undergoing substantial change with technological advancements. The challenge is to educate customers about how the fleet management system will increase productivity and utilisation and reduce costs.

How do you create awareness?

Our clients are our biggest advocates. In fact, 75 per cent of our existing customers have referred new clients to us. Additionally, we have partnered with key sales affiliate partnerships to scale our operations across Indonesia.

We have also ramped up our digital marketing efforts to reach fleet managers across the archipelago.

How do you strike a balance between your personal life and entrepreneurial life?

Being an entrepreneur is a 24×7 job and running a company takes a toll on the family life. When you are a mom and wife, the greatest challenge is to find the right work-life balance because your heart and time tend to swing in a million different directions all the time.

However, one thing that has helped me find a balance is by creating a scheduling system. So I have created a strong support network at home. I often work long hours and do a lot of travel. However, I have built a great work culture at my company; I encourage all my employees to fulfil their family commitments and give mothers more flexibility.

Also Read: One in four remote staffers in Singapore feels less connected to their firms, finds study

I believe a female founder can be as productive as a male founder. We only need to lead by example. If I can please my customers, they will always listen to us.

What have been the major problems faced by female entrepreneurs in the region?

The greatest challenge for a female founder is that it is too hard to connect with investors and know whom to talk to and the process, etc. Running a business is all about meeting investors, especially when there are not many events or opportunities to travel due to COVID-19. That’s why I decided to begin with startup competitions.

We were part of five accelerator and incubator programmes in Indonesia and Southeast Asia. We were in the top 10 finalists of She Loves Tech Indonesia (held in October 2020). During that time, I talked to eight VCs, including Moonshot Ventures and YCAB ventures, which initiated the Indonesia Woman Empowerment Fund (IWEF). We were also part of Accelerating Asia.

In March 2021, we participated in Cocoon Capital’s Female Founders Mentoring Hours. It gave me a chance to meet and talk to four VCs and seek mentorship.

With the right connections, mentorship and opportunity, I believe that female founders have as much chance to succeed as our male counterparts.

What are your expansion, fundraising and other plans?

We want to achieve certain milestones in terms of paid subscribers and annual recurring revenue before raising our next round of funding.

Also Read: Patamar Capital launches US$50M Beacon Fund for female entrepreneurs in SEA’s emerging markets

We also intend to build an integrated solution with AI and machine learning technology that helps clients make better decisions, maximise productivity, reduce stress and expose weaknesses.

We will build a smart trip management system to save time, diagnose issues and give our customers an overview of their fleet. This will alert fleet operators about any potential problems and fix the faults before they become a severe liability and puts a driver in danger.

As for geographic expansion, we plan to expand to Myanmar and later Brunei.

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The post Driving change: Female Muslim entrepreneur accelerates success in Indonesia’s logistics-tech arena with TransTRACK.ID appeared first on e27.

Dear reader,

The liquidation of Singapore-based cryptocurrency lender Hodlnaut marks a significant development in the crypto lending sector.

Hodlnaut faced challenges after incurring substantial losses of US$189 million linked to the collapse of the Terra ecosystem in May 2022. The rejection of a restructuring plan by Hodlnaut creditors in favour of liquidation underscores the complexities and risks in the crypto space.

This event also highlights the importance of due diligence and risk management in the industry. The broader context reveals the dynamic nature of the cryptocurrency market, which is susceptible to sudden ecosystem collapses and regulatory changes. It emphasises the need for a robust regulatory framework to protect stakeholders and enhance market stability.

As the crypto landscape evolves, incidents like Hodlnaut’s liquidation underscore the importance of risk-aware strategies for both market participants and regulatory authorities.

Sainul,
Editor.

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Singapore crypto exchange Hodlnaut to be liquidated
Hodlnaut, which lost millions in the crash of the Luna and Terra tokens, had applied for creditor protection in August 2022; Hodlnaut’s founders tried to sell the company to OPNX, a digital asset exchange established by the founders of failed hedge fund Three Arrows Capital.

E-commerce enabler Etaily raises US$17.8M to expand in SEA
Pavilion Capital and SKS Capital are the investors; Etaily – which claims to have processed 10M+ orders across platforms like Lazada, Tokopedia, Tiki, and Shopee – will use the new capital to strengthen its footprint in SEA.

Malaysian court order against Luno causes concern across crypto firms
On October 31, the sessions court in Petaling Jaya, a city just west of Kuala Lumpur, ordered Luno to pay US$128K to a client, Yew See Tak, whose account was emptied by unauthorized transactions.

KX, HashKey partner to support Web3 efforts in SEA, Hong Kong
The partnership, which involves an investment from KX to HashKey Capital, aims to support the development of the Web3 ecosystem by introducing global projects to the region and helping enable blockchain tech for wider use.

Dubai launches US$136M fund for startup investments
The Dubai Integrated Economic Zones Authority will invest in tech startups from the pre-seed to Series B stages; The new fund is the first investment program launched under Oraseya Capital, the venture capital arm of DIEZ.

EduFi raises US$6.1M to boost AI-powered student lending platform
The investors are Zayn VC, Palm Drive Capital, Deem Ventures, and Q Business; An AI-powered platform headquartered in Singapore but operates in Pakistan, EduFi has partnered with over a dozen colleges in Pakistan that have around 200k students in total.

Plana wins 4th KOREA-ASEAN Business Model Competition 2023
The 4th KOREA-ASEAN Business Model Competition 2023 is an international startup competition dedicated to advancing SDGs.

Crypto investors see recent price gains as positive signal
Investors are getting back in the groove of investing in web3, crypto and blockchain technology; The renewed focus is on real-world use cases, infrastructure, and practical solutions rather than the more abstract, trendy projects of the past.

Expect to see 10,000 deeptech Indian startups by 2030: Nasscom
The Indian deep tech startup ecosystem has come of age with over 3,000 companies that have grown at 53 per cent CAGR over the last ten years, according to a report by Nasscom, the apex body for India’s US$245B technology industry.

Three human mistakes VCs often make, and how understanding them can help entrepreneurs fundraise better
Many investors are more likely to support a founder they feel a personal connection with; VCs are driven by the lack of independent thinking and FOMO.

SEA startup roundup: Earth VC backs Kuva Space, Singtel Future Makers, AgBioTech incubation, Volta’s funding
Earth VC supports Kuva Space, Singtel awards Future Makers, AgBioTech Incubation unveils Thai startups, and BondbloX’s Series B.

Female Muslim entrepreneur accelerates success in Indonesia’s logistics-tech arena
TransTRACK.ID’s Anggia Meisesari transforms fleet management in Indonesia. Her journey, challenges, and vision for safer, efficient roads.

These ex-Grab executives want to help you deal with hangover better
Evo is the company behind Bounceback, a pill that helps users combat the effect of hangovers such as headache, nausea, and redness.

Team performance unlocked: Harnessing chronotypes for startup synergy
Embracing your team’s chronotypes means you’re working smart, in harmony with the natural rhythms of human performance.

Is it a case of Déjà vu for Hong Kong in their road in regulation cryptocurrency?
Exploring the aftermath of the JPEX case in Hong Kong, focusing on influencer roles and potential impacts on cryptocurrency advertising regulations.

Digital bank licences: Why does everyone want a slice of the unbanked?
Digital banks seek to improve digital literacy and to lessen financial inequality amongst the underbanked population.

Leading the category, then losing it all: What WeWork can teach us
The failures of this former category leader are now being expounded around the management, the failed IPO, and the financial modelling and gearing.

‘Tis the season to be shopping: Can businesses still capitalise on sales events in APAC?
Online merchants are gearing up for the biggest shopping festivals across APAC, but are they still relevant against today’s economic backdrop?

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