Singaporean proptech company SIMPPLE provides SIMPPLE Ecosystem, an integrated suite of facility management software, IoT devices, and robotics to empower facility owners and operations managers to streamline their operations. By assigning tasks to human and robotic workforces, the firm aims to ensure quality through IoT solutions and CCTV camera integration.

The company recently listed its shares on the Nasdaq Capital Market under the ticker symbol “SPPL”.

Aloysius Chong, CEO and Co-Founder, sheds light on the IPO, SIMPPLE Ecosystem and its impact on workforce management in building maintenance, surveillance, and cleaning.

Excerpts:

Can you provide more details about the SIMPPLE Ecosystem and how it enhances workforce management in building maintenance, surveillance, and cleaning?

SIMPPLE is an advanced technology solution provider in the emerging proptech space, focused on helping facility owners and operations managers manage their facilities. We do so by having a proprietary ecosystem solution suite comprising facility management software, Internet of Things (IoT) devices, and robotics that are integrated at its core.

The SIMPPLE Software then takes in the workflows and processes that a building requires in the areas of building maintenance, security, and janitorial services, then assigns the task to the human or robotic workforce to handle it while ensuring that quality is maintained through a series of IoT solutions and integration with CCTV cameras.

Also Read: Proptech firm SIMPPLE lists on Nasdaq, looks to raise US$8.4M

This, together with our development in Artificial Intelligence, results in our next-generation Autonomic Intelligence Engine, which we coin as SIMPPLE AI, which leverages capabilities in machine learning, computer visioning, and data analytics to position buildings to be future-ready and equipped with new technologies.

In Singapore, our technologies are found in approximately half of the public schools (209 out of 432 schools), seven private hospitals and four of the six universities amongst our deployment across the various commercial and industrial properties sectors.

Why did you choose the Nasdaq over local bourses?

As we started this journey and charted out our fundraising strategy, we had to consider multiple exchanges around the world that were deemed suitable for our listing. A few considerations were the structure and rules of the exchanges, a brief analysis of the financial performance of respective markets, investors and liquidity on the exchanges, and the technology-friendliness of these exchanges as we are a technology company.

In weighing local bourses and the Nasdaq, we actually considered SGX Catalist Board in our discussions. However, after rounds of discussions and deliberation, the team decided that Nasdaq is the most suitable for us as a fast-growing technology company that plans to internationalise.

Through a global platform like Nasdaq, we can access the capital markets in the US, leveraging its strong liquidity. Being a Nasdaq-listed company also improves our brand visibility so that we can access and attract new talents to support the company’s growth.

With the funds raised from your recent IPO, what specific R&D initiatives and IP strategies do you plan to pursue to develop your technology further?

We intend to further our R&D efforts on SIMPPLE AI and ensure its commercial viability for scale-up implementations and deployments. We live in a world where technology advances very rapidly. We remain committed to trialling new technological methods in applied settings (e.g., computer vision analytics and machine learning).

Could you elaborate on your plans for expanding sales and marketing into overseas markets, particularly in Australia and the Middle East? What is your market entry strategy?

Every geographical market presents expansion opportunities, but each market also presents different problem statements and strategies unique to penetrating abroad. One of our successful go-to-market (GTM) strategies includes a partnership approach when entering these markets.

You mentioned potential acquisitions and strategic investments as a use of capital. Are there any specific targets or sectors you are considering for these investments?

At this moment, we cannot comment much on this question, specifically on targets or sectors. We remain open to identifying potential acquisition options to advance our R&D efforts or support our global expansion.

How do you foresee the adoption of robotics and IoT devices in building maintenance and security evolving in the coming years, and how does SIMPPLE plan to stay at the forefront of this industry?

We are already seeing the prevalence of robotics and IoT solutions across the globe. While we cannot comment on the future of robotics and IoT devices, the future of work and play will involve robots and smart solutions. This may also apply in the facilities management industry as it relies heavily on labour, and labour supply shortage also affects labour costs. Technologies like ours will increase efficiency and streamline workflows to overcome labour challenges and address the concerns of facility owners on accountability and transparency.

With SIMPPLE AI, our next-generation Autonomic Intelligence Engine, the workflows between people, processes and technology are automated using Artificial Intelligence, enabling a building to “take care of itself”.

With the opening of selected satellite offices, how do you plan to leverage local talent and expertise to support your global expansion efforts and provide better service to clients in different regions?

When expanding, we believe in a ‘go global, stay local concept’. On top of understanding local laws and regulations, we believe that culture, adoption, and attitudes towards technology implementation play a big role in our implementation success.

That said, being a Singaporean company with a majority Singaporean workforce, our staff are mobile, and we would certainly explore opportunities for our staff to understand various markets together with their overseas colleagues so that we can bring the expertise and knowledge of a Global implementation and apply it to Local requirements.

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Recharge Capital today announced the appointment of Margaret Wang as its Managing Partner, leading its Women’s Health Strategy. She will lead the firm’s Singapore office and spearhead its operations in the Asia Pacific (APAC) region.

Prior to the appointment, Wang was the former Executive Director and Head of Bridgewater Associates Singapore. She had also served as the firm’s Chief Representative for the Beijing Office, who helped launch its fund in Shanghai.

“I’m thrilled to join the Recharge team and drive value creation across key international markets,” said Wang in a press statement.

“The firm’s thematic strategy is well-positioned to foster innovation and societal impact across the value chain, and I’m excited to tackle the crucial challenges our world faces through our unique approach to investing in and building meaningful businesses.”

Recharge Capital positions itself as a thematic-first private investment firm. In June, it launched a US$200 million women’s health fund backed by the likes of Peter Thiel, The Disney Family, The Olayan Family, and Ian Osbourne.

Also Read: How Singapore became a leading femtech startup hub in SEA

What exactly is the thematic-first approach that Recharge Capital is implementing? What is their vision for the women’s health industry in APAC? Let Wang explain to you in this email interview with e27. The following is an edited excerpt of the conversation.

Can you explain more about the thematic-first approach that your firm is taking?

Recharge Capital takes a differentiated, thematic-first approach to investing focused on deploying capital into specific objectives or key themes. We aim to drive societal and technological shifts rather than traditional sector-based strategies. This thematic-first philosophy has allowed Recharge Capital to carve out regional winners across its core themes of women’s healthcare, fintech democratisation and deep-tech enablement and presents an incredible opportunity to help foster innovation across the value chain.

I will be taking a heavy focus on women’s healthcare. The firm has had past successful investments in the industry, cementing the belief that fertility and women’s health are two of the most profitable sub-sectors of healthcare investing. We’re passionate proponents of increasing access to family planning services worldwide, and we believe that this vehicle will be a crucial driver in its mass adoption.

Why is this better than existing alternatives? How did you come up with this?

The traditional asset management strategy of ‘asset class first, geography second, sector third’ is the general industry standard, yet it remains outdated and doesn’t reflect today’s more complex and dynamic economy. With our restructured strategy, we’ve built an investment philosophy to be ‘thematic first, geography second, and asset class third.’ This allows us to identify cross-sector category winners aligned with our core themes like women’s healthcare, fintech democratisation, and deep-tech earlier than others.

Recharge Capital Founding Partner Lorin Gu has assembled a highly diversified team across the firm’s different thematic strategies to emphasise sector specialisation and generate alpha in both early and late stages. He’s been instrumental in defining our investment thesis and ethos as a firm. The thematic-first philosophy provides an information advantage to spot opportunities of the future rather than looking retrospectively.

Also Read: Femtech: VC interest grows as new frontier for women’s health beckons

Can you explain how you implement this approach in reviewing a potential investment?

Our thematic-first approach involves assessing company fit, leveraging specialised expertise, and making ecosystem-building investments within thoroughly researched themes. This differentiated process gives us an edge in spotting winners.

When reviewing potential investments, we first evaluate alignment with our core themes like women’s healthcare and fintech democratisation. Rigorous market research into each theme allows us to understand addressable market size and growth drivers. Our experts then conduct diligence through the lens of building integrated ecosystems within each theme.

For example, Recharge Capital recently closed the first tranche of its US$200 million Women’s Healthcare Investment Vehicle, backed with funding from esteemed investors. To close this first tranche, we researched the full fertility value chain and selected companies that strategically fit rolling up a comprehensive women’s fertility platform across target regions.

What is your big plan for 2024? Do you have anything specific for Southeast Asia (SEA)?

I’m especially eager to lead Recharge’s Women’s Healthcare strategy, which addresses a growing global issue that remains under-addressed from an investment perspective. By 2045, close to 50 per cent of couples are expected to rely on women’s healthcare services like IVF for fertility, and yet female health conditions totalled just one per cent of pharmaceutical research funding in 2020.

There are nearly 1.5 million annual IVF cycles in Asia alone, with China exporting ~500,000 cycles to other countries. There is tremendous demand for medical tourism related to family planning and women’s health, and Recharge Capital is funding a network of clinics through Generation Prime to satisfy this demand with cost-effective and cutting-edge services.

Also Read: Overcoming advertising woes and other challenges for the femtech industry

The serviceable market for IVF and related treatments in Singapore is around US$350 million. If you take into account all of SEA, the hubs for IVF services are mainly in Singapore, Malaysia, and Thailand – serving across the entire SEA markets, it goes up to almost US$11 billion. This is just for fertility. If you take IVF plus other women’s health needs, it can get close to US$48 billion in market size, and this is only in SEA.

What are your targets for 2024?

For 2024, my primary focus will be on international fertility access and medical tourism, menstrual wellness, and women’s disease prevention as part of Recharge’s Women’s Healthcare strategy. Recharge Capital aims to transform the sector by creating a full-scale integration of disruptive technologies, diagnostic solutions, and seamless patient experiences through digital platforms and local clinic chains.

Recharge’s thematic model has improved family planning to be a holistic, all-encompassing, and long-term approach, and its clinics like Generation Prime ensure that patients in Southeast Asia have access to the most robust fertility services from the onset.

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Image Credit: Recharge Capital

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This article was first published on June 7, 2018. Ever since then, Indonesia has been making progress in its inclusion of digital payments in almost every retail ecosystem, including informal small businesses. The introduction of QRIS during the pandemic has contributed to this milestone. 

Since the startup’s first claim to fame in 2015, Go-Pay has always been an integral part of the Go-Jek experience. Embedded into the Go-Jek mobile app, users can top-up some amount of funds into the e-wallet feature and use it to pay for Go-Jek services from ride-hailing and food delivery to express courier.

An interesting development happened in July 2017 with the launch of Go-Resto, which aims to enable Go-Food drivers, in general, to do transactions at various F&B and merchant outlets using Go-Pay. The platform was launched with the expectation that, eventually, customers will be able to use Go-Pay for transactions outside of the Go-Jek ecosystem.

The prospect of being able to use the cashless payment system to buy food at the mall (and other daily necessities) seemed promising in a market where cash is king –and a long-reigning king, that one is.

So when Kompas Tekno reported that several street food stalls in Kebon Sirih, Central Jakarta, have begun to accept Go-Pay for payments, followed by the launch of Go-Pay at several offline and online merchants, I decided that I just had to try these myself.

So off I went on a three-day shopping trip to test out Go-Pay at various merchants.

The experience

 

Just in time for Ramadan, together with several leading retailers, Go-Jek launched a special promo that will allow users to get cashback by using Go-Pay to pay for their transactions.

Guided by the list of merchants on their site, I started off by paying visits to bubble drink outlet Chatime and bookstore chain Gramedia to test out the new service.

Also Read: Indonesian ride-hailing giant Go-Jek to launch online content production house, streaming service

There was a considerable queue at Chatime as it was near time for iftar; people in the mall were getting themselves ready by buying food and drinks.

I took the risk of being called a creep by watching every single person standing before me, and what they used to pay for their drinks. The majority of them used cash, followed by credit or debit cards, despite notification on the cashier that this shop accepts Go-Pay.

When my turn came, I asked the shopkeeper if it was possible for me to use Go-Pay. She said yes and took out an EDC machine with a Kartuku label on it.

(Friendly reminder that fintech startup Kartuku was acquired by Go-Jek in December 2017.)

The machine then printed out a piece of paper with a QR code on it. I opened the “scan QR code” part on my Go-Jek app and scanned the code. The next thing that showed up on my screen was an option to choose between the Go-Jek and Go-Life apps.

I picked the Go-Jek app and confirmed my purchase with a passcode; within seconds, my purchase was approved. I got to left the counter with a sense of victory; I liked to imagine that people were staring at me enviously as well.

The next day I decided to stop by Gramedia. Honestly, I had no plan to buy any book at the moment, so I stopped by the magazine section and got some back issues as they were really cheap.

Like the previous day, I was also the only person in the waiting line who was using Go-Pay for transactions. The lady behind the cashier even said that this was the first time she ever used it to process a transaction.

We repeated the same process as the one at Chatime, and once again, I walked out of the store excited.

My journey continued the next day to a noodle shop in South Jakarta which had been reported to accept Go-Pay as payment method. But unfortunately this is the first time I have been let down by the experience, as despite the reports, the cashier told me that the Go-Pay service is meant only for Go-Food drivers.

Also Read: Go-Jek, Openspace inject money into Bangladesh’s bike-hailing startup Pathao

I am not sure what happened here. Have I been misguided by the reports, or does it indicate the lack of communication between the noodle shop management, Go-Jek, and the staff?

No idea. But all that matters is that in the past three days, I have gotten enough materials to make a verdict.

Indonesia’s cashless revolution

If you have been using Alipay in China or ApplePay in Singapore, you may wonder: It is 2018, and someone in Indonesia is actually excited about using a QR code-based payment?

We have every right to be excited as we have been behind when it comes to the use of cashless payment methods. In the same way Go-Jek was not the first business to try to digitise ojek services, they were also not the first company to offer e-wallet service in this market. Think DOKU or Tcash.

Yet, as successful as these businesses go, they still fail to make e-wallet a must-have item in every Indonesian’s smartphone. No matter where we go, we always have a stack of cash ready in our wallet.

Let me explain to you why.

It is said that the lives of a typical Indonesian, particularly in Jakarta, revolve around the nearest shopping malls. True, we spend countless weekends and nights at shopping malls, hanging around or even just waiting for the traffic jam to calm down. But there is life outside the shopping mall, and this is why we always have a stack of cash ready.

As you move your car out of a parking lot, there will always be a tukang parkir (“Parking man”) showing up with a whistle to help you out.

You wait in a traffic jam, and a street seller shows up at your window with bottles of drinks. You decided to buy one.

You aim to take a U-turn, but the other cars and motorbikes just will not let you. A group of teenagers showed up to help you get your chance. They expect a reward, so you hand them some coins. This profession is called a pak ogah.

Once you arrive home, you realise that you are running out of sugar for your evening tea. So you walk out to a nearby warung.

These are all the kind of services provided by small businesses and individuals that are essential to the life of every Indonesian. And these services can only accept cash.

(I personally have never seen a pak ogah with an EDC machine, so yeah. These services are also the reason why vending machines will never be popular here.)

Also Read: Go-Jek to invest US$500M to support international expansion plan

Now let us link it back to the reason why previously released services such as DOKU and Tcash did not work.

Many of these services team up with retailers at the malls, which is great until the customers walk out of the mall itself.

Also, while Tcash has recently announced its plan to become agnostic, the service was previously only available for users of mobile operator Telkomsel.

I personally find it off-putting to sign up for something new. Last year the government made it obligatory for all toll roads to use cashless payment methods; only then did I actually apply for one, as provided by the bank. Because otherwise, I would not be able to use the highway.

This is why Go-Pay might actually has the chance to bring forth the cashless revolution.

Though they have also used the strategy of partnering with major retailers, they also include small businesses and street food sellers as part of their launch strategy, covering a previously untouched segment by cashless payment methods providers.

The platform also have a network of small and big F&B retailers through its Go-Food service; looking at all the services available on the Go-Jek platform, there is a strong possibility that one day we get to use Go-Pay for transactions at the cinema, the pharmacist, or the supermarket.

The e-wallet is also integrated into a mobile app that provides a core service that is even more essential to Indonesians’ lives than the malls: Transportation. (Otherwise, how do you get to the mall!?)

With an integrated service, you do not have to download another app or sign up for something with the bank. If you are lazy like me or have limited space on your smartphone, this is a great way to lure you in.

Now what?

 

So what is next for Go-Pay? Considering the fact that the service has only been launched in the past month, there is a limited number of merchants that we get to use it. This is understandable, but we are definitely looking forward to seeing more coming. Not only in numbers but also in variety. If my favourite laundry shop starts to accept Go-Pay next month, I will be a very happy person.

Also Read: Southeast Asia is setting itself up for disappointment with Go-Jek entrance

If there is anything that Go-Jek needs to work on, it is educating the customers about the existence of such a service. As I have explained in previous paragraphs, I was the only shopper in the queue line who was using the service. I talked to friends and family about my experience shopping with Go-Pay; most of them are even shocked that you can actually use Go-Pay at Starbucks.

What is the best way to educate the society about this service? I honestly do not know. Promos are nice, but sometimes people need to be encouraged by seeing a person using the service in real life. Hopefully, the person standing behind me in Gramedia will be inspired to use his Go-Pay to buy books.

The last thing I am going to say is that: Your move, GrabPay.

The post (Updated) I used Go-Pay to buy these magazines and a bubble drink. Here is why I think it’s game-changing appeared first on e27.

Though we may not talk about it so often anymore, many of us would still remember what happened at the end of 2022: When news about FTX’s collapse took over the headlines.

This write-up by Forbes might serve as a good reminder of what happened.

“The crypto market is swinging from left to right, comfortable in limited range and smooth curves. The FTX fallout in the year 2022 shook the market and turned it down. This year gave a fresh and positive perspective to major cryptocurrencies like Ethereum and Bitcoin, which gradually turned green helped by the relaxed macroeconomic situation of macroeconomic and cooling inflation,” the article writes.

“Nevertheless, the market sentiments have slowly turned from fear to greed and then to neutral.”

With the exception of those who are actively involved in the industry, some of us might wonder: So, what is the state of crypto exchanges today? Has it managed to gain (back) the trust of the general public, who could potentially be the next investors? What are the ways that exchanges are using to attract, particularly retail investors?

Also Read: With new US$100M fund, KXVC aims to help global AI, Deep Tech, Web3 founders win APAC market

On the second day of TOKEN2049 in Singapore on September 14, there was a discussion about the importance of education in acquiring retail investors on board.

According to Huobi Ventures Managing Director Edward Chen in a panel discussion, the strategy that they are taking is to focus on providing support to new users. He sees that in the case of most of its users, who are mainly professional investors, there is already a basic understanding of crypto.

“We also provide education programmes, but we usually come up with a third party.”

On being compliant

Another big theme that seems to have surfaced in the industry lately is the matter of regulation.

In August, Singapore became among the world’s first to agree to stablecoin crypto regulation. As detailed by CNBC, The Monetary Authority of Singapore (MAS) proposed framework includes key requirements such as reserves that back stablecoins must be held in low-risk and highly liquid assets.

If trust is one of the key issues that prevented users from embracing crypto and the Web3 industry from becoming mainstream, perhaps the sense of security provided through regulation can be a piece of good news.

It has definitely helped investors—in this context, VC firms—to be more confident in investing in Web3 industries.

Also Read: How to stay creative in the age of Generative AI and Web3

KX Venture Director Thanaarmates “Paul” Arriyavat, in an interview with e27 during his visit to Singapore, highlighted that several countries in SEA are more promising when it comes to becoming a hub for Web3 companies, such as Thailand and Singapore. The one thing in common between these two countries is the regulatory certainty that enables companies to operate smoothly.

“Because the rules and regulations over there are pretty forward-looking; it has a clear separation between tokens or digital asset that has utilities and security … We’re still waiting for the regulations on liquidity announcement [from the government] so that we will be able to move forward with a lot of use cases,” he stressed.

Like with many regulations, there are plenty of aspirations—and plenty of waiting. But I would like to think that, after a turbulent time, players in the crypto and Web3 space would like to have reasons to feel optimistic.

Whether Web3 will become mainstream or not, it might be up to the customers to decide.

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Evo Commerce, a direct-to-consumer health & beauty startup based in Singapore, has secured US$2.8 million in equity and debt financing.

Shanghai-based firm IJK Capital led the round, with participation from Carousell Co-Founder and CEO Quek Siu Rui, Fave Co-Founder Joel Neoh, and Tipsy Collective.

This comes about eight months after the D2C startup announced the completion of its pre-series A funding round of US$2 million from GSR Ventures, 33 Capital, Rainforest CEO and Co-Founder JJ Chai, Wallex Co-Founder Hiro Kiga, and BrideStory Co-Founder Emile Etienne.

The company will use the money for product development and market growth. The debt financing will be used for expanding its retail presence across Asia, including renowned retailers such as 7Eleven, Guardian, and Watsons.

Also Read: Evo Commerce, parent of D2C anti-hangover solution BounceBack, nets US$2M

Evo Commerce aims to reshape the landscape of health & beauty products in the region by bridging the accessibility gap and “empowering Asian consumers with top-quality products”. The company owns two brands: back (focusing on post-party recovery aids and daily supplements) and Stryv (specialising in the affordable luxury segment for personal care electronics).

The startup claims to have achieved 25x growth in the past 18 months. It aims to achieve EBITDA profitability within the next six months of operations.

The founders have plans to raise an additional US$1-2 million before closing the current round.

Roy Ang, Co-Founder and CEO of Evo Commerce, said: “We believe that the health and beauty category is significantly underserved in Southeast Asia markets. Our mission is to enhance the lives of Asians by solving accessibility issues for these products.”

In 2022, Evo Commerce secured US$600,000 in seed funding, led by East Ventures, with notable angel investors Aaron Tan from Carro, Joel Leong from ShopBack, Mohandass from Spenmo, and Jonathan Tan from Prism+.

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Image Credit: Evo Commerce

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This article was first published on July 25, 2018. After a period of hiatus during the COVID-19 pandemic, the Nexticorn International Summit has been held for two consecutive years in Indonesia, with the latest being on September 15-16, 2023.

At a power breakfast event hosted by Indonesia’s Ministry of Communications and Informatics (Kemenkominfo) in South Jakarta today, Convergence Ventures Partner Donald Wihardja pointed out that four out of the 10 unicorn startups in Southeast Asia –Tokopedia, Go-Jek, Traveloka, and Bukalapak– are made in Indonesia.

“They were founded in Indonesia and reached their unicorn status by working in the Indonesian market,” he stressed.

However, their success was more of the exception than the rule for most startups founded in the country. Although the number of venture capital (VC) investments in the country continues to rise, it remains challenging for most early stage startups to move beyond.

This is where the government comes in with the Next Indonesian Unicorn (Nexticorn) programme.

The result of a collaboration between Kemenkominfo, Indonesian Venture Capital and Startup Association (Amvesindo), and EY, the programme aims to streamline and promote Indonesia’s most investable startups to global investors.

During another government-endorsed programme such as 1000 Startup targeted early stage startups, Nexticorn focusses on middle stage startups looking to raise their Series B funding round.

Also Read: Invest in Indonesia yesterday, says DailySocial Founder Rama Mamuaya

In addition to promoting Indonesia as a potential market, the programme also aims to connect startups with potential investors. It also aims to launch a centralised directory of startups for potential investors to browse in.

Led by Minister of Communications and Informatics Rudiantara himself as chairman, the programme’s board of advisor features prominent names in the Indonesian startup community such as Wihardja and Venturra Capital Managing Partner Rudy Ramawy.

The programme also named ADSKOM Co-Founder and CEO Italo Gani, Tokopedia CEO and Co-Founder William Tanuwijaya, Go-Jek CEO and co-founder Nadiem Makarim, as well as former OLX Indonesia CEO and ADSvokat co-founder Daniel Tumiwa as brand ambassadors.

“This event was born out of concern from industry players, which the Kemenkominfo has been listening to,” said Lis Sutjiati, Deputy to the Chairman for Nexticorn Strategy Formulation Coordination.

“Today the role of government has gone beyond regulator; it should also serve as a facilitator and even accelerator,” she stressed.

Also Read: A horse of another: Here’s the complete list of Southeast Asia’s 28 unicorns

The programme consists of three main parts: The main summit that has been conducted in Bali in May; monthly roadshows to countries such as Singapore, Japan, and the US; as well as the second part of the summit which will be held in conjunction with IMF and World Bank event in Bali in October 13-14.

The event in May has brought over 65 Indonesian startups to meet with 89 potential investors from US, Japan, Singapore, India, Australia, and South Korea. The organiser curated both the startups and investors, and the event resulted in 1,035 meetings between investors and startups with 294 follow-up meetings.

Registration for the event in October has already been opened; though the organiser did not have any specific target for the number of participating startups, they urged them to register as early as possible.

“Indonesia has a lot of potential startups, but it is tough to discover them. This is why a powerful meeting is necessary,” Sutjiati said.

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Image Credit: Artem Bali on Unsplash

The post (Updated) How Indonesia plans to close Series B funding gap among its startups appeared first on e27.

This article was first published on July 17, 2018. In March 2023, according to a DealStreetAsia report, TaniHub Group faced a “crucial hearing” in the local district court to decide the next course of action for the company following a series of legal issues. 

As the number of Indonesian agritech startups continue to grow, only several startups are able to stand out with their presence and business lines. One example of such startups is TaniGroup, which has developed the TaniHub and TaniFund platforms.

TaniGroup Co-Founder & CEO Ivan Arie Sustiawan once explained in an event that the TaniHub platform has been used actively by 680 farmer groups. Its client list has grown beyond 230 units, consisting of supermarkets, restaurants, exporter, manufacturers, and SMEs.

As for TaniFund, the platform claimed to have channeled up to IDR19 billion (US$1.3 million) to 34 projects run by farmer groups. The funding for the projects was raised through online crowdfunding and credits from several banks.

Founded in August 2016, TaniGroup itself has also raised a pre-Series A funding round led by Alpha JWC Ventures.

In order to expand its capability, this year TaniHub launched a commerce app for farmers that enables them to directly sell their products to customers. They also have another app that helps B2B customers purchase agricultural products from the farmers. The two apps were aimed to speed up on-boarding and transaction process.

“For TaniFund, we are currently in the process of expanding the farmers and supporting apps, so that farmers can use their app to receive all sorts of assistance in farming, such as weather information, polyculture method, treatment method, and many more,” Sustiawan told DailySocial.

Also Read: Agritech startup Jala comes out as winner of Top100 Indonesia Qualifier Roadshow

Challenges in the agricultural sector

 

The truth is that there are plenty of challenges in running an agricultural business, from the matter of production chain to the capacity of the farmers themselves. This is something that TaniGroup has to deal with in developing its business. According to Sustiawan, the greatest challenge that the company is facing is socialising its platform to both farmers and clients.

“It is indeed a costly and painful process, but this is something that all startups aiming to make it big have to go through. The way we explain our business process to farmers is by attending socialisation events held by Ministry of Communications and Informatics, Ministry of SMEs, Financial Services Authority, and the Central Bank,” Sustiawan said.

TaniGroup believes that soon technology will transform Indonesian agriculture system to become more productive and transparent. Sustiawan gave an example of a digital system that can help farmers increase supplies. Farmers that have worked with TaniGroup claimed that they feel benefited by the certainty provided by the platform; they felt encouraged to plant more and hire more people for their fields.

“Farmer groups that have applied for funding through TaniFund can also secure it relatively faster. In addition to providing a marketplace and lending services, technology is also able to assist farmers in choosing and optimising the right farming method,” Sustiawan continued.

With the achievements that the startup has already made, TaniGroup is confident enough about expanding beyond Java this year. It will continue to add new features, following feedbacks from farmer groups and their B2B clients. In addition to that, TaniFund also aims to reach a greater number of funding achieved for farmers, with the goal to increase the social impact, particularly in organic farming.

Also Read: More details emerge on early stage funding round for Indonesian agritech startup Sayurbox

Great opportunities remain in the agricultural sector

 

As industry players begin to recognise Indonesia’s potential as an agricultural nation, more startups in the agritech sectors are entering the market. There are indeed many problems to solve in the market; a central statistic agency revealed that the growth of agricultural sector in 2016 was only 1.85 per cent. Investment in the agricultural sector was also considered insignificant with the industry taking over 13.56 per cent of national industries.

Sustiawan welcomed the appearance of new competitors with open arms.

“We believe that there is enough ‘cake’ for everyone in the sector so that we do not have to consider each other as competitor. Our hope is for agritech startups to collaborate with each other as the biggest goal for Indonesian agritech startups should be prosperity for all farmers and fishermen, promoting sustainable farming for the sake of the country’s agricultural business sector, and maintaining food security,” he closed.

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The article Potensi dan Tantangan Industri Agrotech di Indonesia was written in Bahasa Indonesia by Randi Eka Yonida for DailySocial. English translation and editing by e27.

The post How TaniGroup faces challenges, opportunities in Indonesian agritech industry appeared first on e27.

Apple Pay has little effect on the domestic e-wallet market because it only has iOS users, requires payment locations to have POS machines, and only accepts international payment cards.

Apple Pay was formally introduced in Vietnam on August 8. Apple created this electronic wallet program to benefit users of the iOS environment. Users can therefore pay for services online by simply adding a physical credit card to the application.

Users only need to hold the top of the iPhone or Apple Watch screen close to the contactless card reader while double-pressing the side or home button, authenticating with Face ID or Touch ID, and making a payment.

A one-time dynamic security code and the device’s Face ID, Touch ID, or password are used to authenticate every Apple Pay transaction.

Although it was introduced in 2014, Apple Pay has only recently become officially available to Vietnamese citizens. The arrival of the e-wallet has excited Vietnamese iOS users.

Just on August 8, several users demonstrated the incorporation of credit and debit cards into Apple’s e-wallet, and numerous well-known figures in the computer industry did live streams demonstrating how to utilize them. Pay for services at retail locations.

Meanwhile, a media representative of MoMo also shared that the impact of Apple Pay on domestic e-wallets is yes, but negligible because Apple Pay payment points are high-end brands and must have a POS device to do it.

From a user perspective, Mr. Nguyen Tran Duy Phuong, a programmer in Ho Chi Minh City, said that Apple’s e-wallet currently has not had much impact on the domestic e-wallet market because it only serves Apple’s user group (those with a higher income and quality of life) is the main group.

Also Read: Rising trend in Vietnam: Young professionals embracing social media content creation

Besides, Apple Pay is only a payment method, while the provision of services is done by partners, E-wallets like MoMo often follow the trend of super-app integration, so many services will provide it in your wallet, which Apple Pay cannot do.

Another thing, according to Nguyen Tran Duy Phuong, is that e-wallets in Vietnam currently support both domestic cards and bank account links, while Apple Pay does not. Therefore, users who do not have an international payment card will still choose e-wallets, moreover, with the specificity of the Vietnamese market, not all points of sale have contactless POS machines, especially shops. For small grocery stores or bars, users will also have to use e-wallets like MoMo or ZaloPay to scan the payment code.

Sharing the same opinion, Mr. Tran Duc Trung from the Exquisite forum also said that e-wallets in Vietnam are currently too strong, the application is very good on Android and iOS platforms and can be linked with Many banks to support payment. This is something that payment wallets like Apple Pay find difficult to do.

Users of Apple Pay in Vietnam have said that the e-wallet is incredibly responsive on both the iPhone and the Apple Watch and that payment is incredibly quick and easy.

Many people are concerned about whether Apple’s e-wallet, which competes directly with e-wallets like ZaloPay and MoMo in the domestic e-wallet industry, poses a threat to the market there.

Le Lan Chi, CEO of ZaloPay, addressed this concern with VietNamNet during the recent press conference to showcase multi-function QR codes and stated that Apple Pay only takes credit cards as a form of payment. Due to the low user penetration of these cards in the domestic market, the primary payment and debit cards will not have a significant impact on domestic e-wallets.

Besides, it is worth noting that ZaloPay has just announced that the official e-wallet is one of the first payment service providers in Vietnam for Apple Pay. This means that business partners who are cooperating and using ZaloPay Payment Gateway (ZaloPay Gateway) can open a new payment option, Apple Pay, for their customers.

Should you use Apple Pay in Vietnam?

The answer is too obvious: if you meet the necessary and sufficient requirements, which include having an Apple device that supports Apple Pay and doing business with one of Apple’s partner banks (as I said above), then absolutely yes. If you want the most comprehensive information, you can head straight to the Bank branch you are now using.

Due to the safety, security, and macroeconomic regulatory requirements of each country, developing economies will strive for touchless payment before going towards cashlessness. Therefore, taking part in this digital shift is quite acceptable.

To protect themselves and reduce unneeded risks, consumers must also arm themselves with the required knowledge about these touchless payment options.

The fundamental details concerning Apple Pay in general or Apple Pay in Vietnam specifically are covered above. I hope this new product will be a terrific experience for Apple consumers in Vietnam.

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Teja Ventures

Teja Ventures is a gender lens VC fund for emerging Asia, focusing on early-stage technology companies for the She Economy.

Verticals: Consumer and SaaS
Based in: Singapore
Investment locations: Singapore, India, Indonesia, China
Stages: Angel, seed, pre-Series A/bridge
Investment range: Not specified
Startup invested: Grouu.

Foxmont Capital Partners

Foxmont is a multi-focus VC fund dedicated to Filipino entrepreneurs to support them with capital, network and through the different stages of development.

Verticals: Any/all
Based in: The Philippines
Investment location: The Philippines
Stages: Seed, pre-Series A/bridge
Investment range: US$100K to US$500K
The startup invested: TANGGapp.

Global Brain Singapore

Global Brain specialises in investing in and supporting startups looking to expand their business overseas.

Verticals: Agritech, blockchain, e-commerce, education, enterprise solution, finance, healthtech, ICT, IoT, smart cities, and travel
Based in: Singapore
Investment locations: Australia, New Zealand, and Japan
Stages: Seed, pre-Series A/bridge, Series A
Investment range: US$500K to US$5M
Startup invested: Josys.

ORZON Ventures

ORZON Ventures, powered by OR (an oil and retail company in Thailand) and 500 TukTuks, invests in promising startups in Thailand and Southeast Asia in the mobility & lifestyle sectors.

Verticals: Any/all
Based in: Thailand
Investment locations: Thailand, Singapore, Malaysia, Indonesia, Vietnam
Stages: Pre-Series A/bridge, Series A, Series B, Series C and above
Investment range: US$500K to US$3M
Startup invested: SLEEK EV.

Seedstars International Ventures

Seedstars International is an emerging market seed fund that invests in seed-stage startups across emerging and frontier markets.

Verticals: Agency & consulting, ICT, mobile, and SaaS
Based in: Switzerland
Investment locations: All/any
Stages: Pre-seed, Seed, Series A
Investment range: US$50K to US$500K
The startup invested: MedEasy.

Accelerating Asia

Accelerating Asia is an early-stage VC fund that invests in pre-Series A startups in Southeast and South Asia.

Verticals: All/any
Based in: Singapore
Investment locations: All/any
Stages: Angel, seed, pre-Series A/bridge
Investment range: US$100K to US$250K.

nVentures

nVentures is an investor in early-stage digital media and technology companies.

Verticals: Finance
Based in: Singapore
Investment locations: Sri Lanka, India, Bangladesh, and Singapore
Stages: Pre-seed and seed
Investment range: US$50K to US$250K
The startup invested: MedEasy.

Gobi Partners

Gobi is an investor in early-stage digital media and technology companies.

Verticals: Advertising, Big Data, consumer, e-commerce, education, entertainment, finance, healthtech, ICT, media, SaaS, and travel
Based in: Malaysia
Investment locations: China, Hong Kong, Singapore, Malaysia, Indonesia, Thailand, Vietnam, the Philippines, the United Arab Emirates, and Pakistan
Stages: Seed, pre-Series A/bridge, Series A, Series B, Series C and above
Investment range: Not specified.
The startup invested: Electronic Recycling Through Heroes (ERTH).

Monk’s Hill Ventures (MHV)

MHV invests in early-stage technology startups in Southeast Asia.

Verticals: Cybersecurity, e-commerce, education, finance, F&B, healthtech, HR, logistics/supply chain, robotics, SaaS, travel
Based in: Singapore
Investment locations: Singapore, Indonesia, Malaysia, Vietnam, Thailand, Philippines
Stages: Pre-Series A/bridge, Series A
Investment range: Not specified
Startup invested: Saladin.

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The data centre sector has witnessed tremendous growth and transformation in recent years. Global internet traffic increased by 440 per cent between 2015 and 2021, and as the digital transformation of the global economy progresses, demand for data centres will continue to grow. Singapore has emerged as a major hub for facilities in Asia, attracting significant investment and job opportunities in the region.

Data centres have become an essential piece of infrastructure for businesses and organisations of all sizes. They are central to our digital world, powering the technologies and platforms that inform and influence our decisions, as well as our experiences. From streaming our favourite shows to enabling seamless communication across continents, data centres keep the world connected.

To design, build and operate these facilities, however, requires specialist professionals. So, what does it take to become part of a team that delivers the infrastructure that powers our digital future? One crucial role is that of a Cost Manager, who is responsible for managing, accurately reporting and optimising costs through all stages of a data centre project.

The foundations for success

Several undergraduate and graduate educational paths in Singapore can lead to Cost Management roles in a data centre, such as Quantity Surveying, Construction Management, Project and Facility Management, and various Engineering degrees. There are also Chartership pathways for further professional development in the areas of Cost Management, Project Management, Project Controls, Procurement and Supply Chain Management.

There is even the opportunity to learn on the job with professional development programs, such as Linesight’s RICS-recognised Chartership Pathway. One of a number of pathways towards professional certification in a chosen discipline, this 24-month program includes a dynamic blend of on-the-job learning, formal training and mentorship as employees work towards their Assessment of Professional Competency (APC).

Data centres are complex projects by nature, and the exponential growth of demand in this sector typically infers tight design and construction program timelines. While technical proficiencies are undoubtedly important, it’s crucial to emphasize the significance of soft skills (also known as ‘power skills’ or ‘core skills’) in this field.

As a Cost Manager, strong problem-solving skills are fundamental for navigating the complexities of cost estimation and management associated with data centre projects. Effective communication is, of course, essential to work and collaborate as part of a team, potentially across different time zones and with stakeholders from diverse backgrounds.

Also Read: How data centres adapt to shortages with advanced tech solutions

Furthermore, attention to detail, critical thinking and time management skills are also paramount, especially because even the smallest oversight can have significant financial implications.

Lastly, a commitment to ongoing learning, ambition and an open mind are qualities that will set candidates apart in this sector, while other transferable skills, such as risk management and stakeholder engagement, can easily be honed and applied in the data centre context.

A day in the life of a data centre Cost Manager

From a graduate level to a more senior Cost Manager position, the age-old adage rings true that a typical day in the data centre sector doesn’t really exist! The role is filled with diverse tasks and responsibilities that are wide-ranging and require employing a range of skills to execute.

As a graduate, you’ll have the opportunity to learn the ropes and gain hands-on experience by supporting Cost Management activities. As you progress, you’ll assume greater responsibilities, including cost estimation, budgeting, negotiation, cash flow forecasting and risk analysis.

Pricing innovative solutions for energy efficiency

As a Cost Manager in a data centre environment, it is essential to have a finger on the pulse with regard to the latest local and global industry developments, such as Singapore’s Green Plan 2030 and other sustainability goals and strategies.

Whether it’s related to cooling technologies or building management systems for reduced energy consumption, Cost Managers must be ahead of the curve when it comes to innovative solutions and technologies that support and drive sustainable transformations.

For example, energy efficiency in data centres is critical, especially in a tropical climate like Singapore, which recently introduced a new standard to enhance energy efficiency and reduce costs in facilities. This is the type of announcement that a Cost Manager must be up to speed on — to quickly analyse the implications for their clients, assess potential cost impacts and factor in contingencies.

Ultimately, a Cost Manager’s role involves striking a balance between bringing in the latest technology to the facility and maintaining cost optimisation whilst promoting sustainability and keeping clients at the forefront of energy-efficient and innovative practices in the dynamic data centre sector.

Rising to the challenge

The expanding market and increasing investment in the sector have created a significant demand for skilled professionals. Moreover, the global mobility programs available to data centre professionals offer opportunities to work on impactful projects around the world that expand one’s professional horizons and enhance one’s career trajectory.

Prospective job candidates can demonstrate their suitability for a role in the data centre sector by showcasing a combination of technical skills, soft skills and a genuine passion for the field. A lack of data centre experience should not be a deterrent, and experience and transferrable skills from similar sectors are warmly welcomed.

Those pursuing a data centre career in Singapore have the opportunity to play a role in hugely impactful projects in a country that is not only the world’s leading business environment but also the highest-scoring country in terms of technological readiness.

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