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Following Primagama acquisition, Zenius raises funding led by MDI Ventures

Zenius CEO Rohan Monga

Indonesian edutech startup Zenius today announced an undisclosed funding round led by MDI Ventures, the corporate venture arm of state-owned telecommunications company Telkom Indonesia.,

Existing investors Northstar Group, Alpha JWC, Openspace Ventures, and new investor Beacon Venture Capital, a corporate venture arm of Thailand’s Kasikorn Bank, also joined the funding round.

In a press statement, the company said that with this funding round, Zenius has raised over US$40 million in total. Prior to this announcement, it closed a Pre-Series B funding round in January 2021.

The company recently made headlines with the acquisition of Primagama, a local cram school giant with up to 40 years of history.

Zenius CEO Rohan Monga said, “The funding will support the further development and expansion of our learning ecosystem. We will focus on improving our personalised learning experience by enhancing our adaptive learning technology and gamifying our platform to boost students’ motivation. Through our recently acquired network from Primagama, one of the biggest tutoring service providers in Indonesia, we will be able to extend our reach to broaden our impact on education. We strongly believe that hybrid learning model, offline and online, will deliver the highest outcome for the students.”

Also Read: The 27 Indonesian startups that have taken the ecosystem to next level this year

In addition to the acquisition, Zenius has recently launched a partnership with Disney for its primary school segment and established ZenPro, a platform for professional or lifelong learning segments.

Founded in 2014, Zenius said that it has helped more than 1.5 million alumni to enter top private and public universities in Indonesia. Last year, seven out of 10 Zenius premium users passed the high-stakes national college entrance exam while Zenius revenue increased by four times.

Monga stressed the role of collaboration in helping the company grows its business.

“Zenius is a collaborative player. We believe that we can realise our mission to shape smarter, brighter, and more fun Indonesia through collaboration, partnership, and synergy with various stakeholders like MDI who share the same vision, which is to improve education in Indonesia,” he said.

Ready to meet new startups to invest in? We have more than hundreds of startups ready to connect with potential investors on our platform. Create or claim your Investor profile today and turn on e27 Connect to receive requests and fundraising information from them.

Image Credit: Zenius

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Is the Southeast Asian market ripe for foreign startups?

Southeast Asia has always lagged behind the Western world in innovation and entrepreneurship. But it seems that a new age is dawning, and startups have been popping up left and right in the region. 

According to CNBC, it is currently the golden age for growth in the South East Asian market for innovators to turn their attention to.

The golden age for SEA

Grab and GoTo (formerly Gojek and Tokopedia) have seen unprecedented growth in the past two years, rising the ranks in the investor market and have announced their intentions to go public this year. 

With much of the region still in the development stage or the “budding age”, with youths rising in numbers, creating a generation of people who are eager to embrace new technologies, the region is primed with opportunity and potential. 

Ohad Ben Artzi, Co-Founder of Vidliz, a digital marketing and PR agency, believes that the rise of startups will fuel the economy and create money-making opportunities for those with the entrepreneurial touch.

The startup boom in Southeast Asia also means that agencies like Vidliz will rise to prominence as digital marketing is a crucial aspect of success.

“Consumer trends in the region have also changed rapidly, with users buying more online than ever before. This situation existed before the pandemic, with lockdowns entrenching purchasing behaviour. With the South East Asian market saturated with heavy mobile users and digital marketing becoming the leader in generating sales,” says Artzi, “Digital marketing is not just an option, it is a necessity.” 

According to Statista, the Philippines has continued to top the average daily internet use charts. And a recent report estimated an additional 70 million more people shopped online in Southeast Asia since the start of the pandemic.

The rise of affiliate marketing and its influence

As someone who also hails from a Southeast Asian country, I have personally seen the increase in e-commerce and how social media is being used to promote and share products. It also helps that many marketplaces online offer affiliate programs that give consumers the option to earn from their passion for shopping.

Shopee has grown exponentially and has an ambassador program with an in-house platform that drives sales through its ambassadors. The requirements? A measly one thousand followers is an entry requirement, and then ambassadors can do whatever they want to generate commission.

Also Read: 3 trends that can define the success of SMBs in 2022

They are free to post their links on forums and social media. This drive to affiliate marketing had truly bloomed, especially during the pandemic when shopping trends increased, and people looked for more ways to generate income.

Artzi also voiced how affiliate marketing plays a significant role in digital marketing, as it is driven by consumers, for consumers, “Affiliate marketing is a lucrative collaboration between companies and consumers, and it is highly effective because it’s being promoted by individuals who are passionate about the business, brand, or product, and not simply paid to do so.

“While celebrity or influencer endorsements will continue to make an impact and drive sales, affiliate marketing is here to stay. End consumers want to hear from other consumers who have used the product and recommended it, and businesses want to reward those consumers who promote their products.

“It’s a win-win situation for everyone involved, and the best part is, it’s the most budget-friendly way to incorporate digital marketing, and it doesn’t require much effort on the client’s side.” 

A look into the big ecosystem

Talking to Artzi also showed me how affiliate marketing is a big ecosystem. 

“Everything feeds into one another,” the Co-Founder says, “Conscious consumers create a demand, entrepreneurs and startups fill that demand, creating more need in the industry and generating opportunities like affiliate-ship for consumers, which fuels their desire to buy more and promote more.” 

Also Read: How startups should pivot towards being customer-centric

So when asked whether the South East Asian market is at its peak for startups to enter? My answer is this is just the beginning.

We’re seeing a marvellous display of transformative evolution, where the people are awakening to the fresh new incentives that push creativity to the forefront. Of course, it isn’t always rainbows and unicorns. Dipping your hand into what you don’t yet understand can sometimes backfire.

Marketing campaigns can go wrong, and startups can fail. Still, there is an excellent chance of success because the market is currently receptive and will latch on to new technologies, unlike at the beginning of the technological revolution or the digital boom, my fellow South East Asians were dubious of e-wallets and apprehensive regarding new startups because when you live in a developing country, you’ll quickly realise that scams are everywhere. 

Today, technology fills our days, and we’re moving towards a cashless society. Money transferring platforms have taken over with attractive cashback and points systems which encourage us to use them.

GrabPay is currently being rolled out and aims to be the number one platform for money transfer, bill payments, and even instalment plans.

With everything up in the air, Southeast Asia is where you want your money (and ideas) to be if you’re hoping to flourish – but always remember to be culturally sensitive and understand the market before jumping in feet first. 

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

Join our e27 Telegram groupFB community, or like the e27 Facebook page

Image Credit: tzido

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Tencent-backed Mighty Jaxx makes first close of US$20M Series A+ round

The Mighty Jaxx team

Singapore-based online platform for designer toys and collectibles, has made the first close of a US$20 million Series A+ funding round led by East Ventures (Growth Fund) with participation from Mirana Ventures, the venture partner of Bybit and BitDAO.

Easternwind International, Pan Solar Ventures, Teja Ventures, KB Investment and Korea Investment Partners joined the round.

As per a statement, the new tranche brings the company’s valuation to over US$200 million.

With this, the firm’s total capital raised to date has touched US$34.8 million. Last August, Mighty Jaxx bagged US$10 million in a round led by Tencent. New York-based Greycroft is also a backer of Mighty Jaxx.

Mighty Jaxx will use the new capital to deepen the expertise of its proprietary platform for tech-enabled collectibles and strengthen its ability to develop immersive and interactive phygital collectibles and content. It will also develop its extended reality and Web3 capabilities to bridge phygital collectibles and online, digital experiences with the support of Mirana Ventures.

Also Read: Mighty Jaxx raised US$10M in a Tencent-led round to grow its designer toys and collectibles biz

Jackson Aw, Founder and CEO at Mighty Jaxx, said: “We will be doubling down on our expansion and growth plans as we tap on the tremendous market potential presented by increasingly digitally-savvy consumers.”

With markets like Thailand, the Philippines and Indonesia increasingly investing more time on gaming, there is an emerging demand for new, interactive experiences that transcend the physical and digital divide. To meet this demand, Mighty Jaxx will leverage East Ventures’s expertise in Southeast Asia to further expand in the region and sharpen its digital development expertise.

Mighty Jaxx also plans to significantly increase the size of its global workforce, particularly in the areas of tech, creativity and licensing, over the next 18 months.

Founded in 2012 by CEO Jackson Aw, Mighty Jaxx is an urban culture company that designs and manufactures collectibles and lifestyle products in partnership with global talents and brands such as Warner Brothers, DC Comics, Looney Tunes, Sesame Street, and Casio G-Shock.

It is building an integrated platform to empower future pop-culture brands with the end-to-end supply chain of collectibles, including artist development and incubation, proprietary IP operation, and providing global consumer access with new retail.

The company claims so far, it has shipped millions of products to over 60 countries with diverse offerings in collectibles, gaming, lifestyle, and fashion.

Last March, Mighty Jaxx launched Nubbies: Sesame Street, a hyper-casual game title, in association with the new collectible series of the same name.

Valued at more than US$100 billion, the creator economy is undergoing staggering growth as it forms the focal point into which e-commerce, social media, and online communities converge. As the concept of a decentralised economy takes root alongside developments and the inevitable adoption of Web3, independent creators will undoubtedly rise in number and influence.

Ready to meet new startups to invest in? We have more than hundreds of startups ready to connect with potential investors on our platform. Create or claim your Investor profile today and turn on e27 Connect to receive requests and fundraising information from them.

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Singapore’s Transport Capital launches VC fund for decarbonisation, digitalisation startups

TC Ventures Deputy Managing Partner Joshua Politis

Transport Capital, an investment management firm in Singapore, has announced the launch of a new VC arm TC Ventures.

The new fund focus on startups offering compelling solutions for transportation’s two mega challenges: decarbonisation and digitalisation. In addition to capital, TC Ventures will leverage its deep understanding of maritime and aviation to help its investee companies grow.

Alongside the launch, TC Ventures has announced investments in two foreign companies: Turtle (Germany) and Everimpact (France). While Turtle is building a digital job marketplace for the maritime industry, Everimpact helps fight the climate crisis by measuring carbon emissions to finance climate actions.

Also Read: ‘We hope to see more material science, heavy industry firms coming out of SEA to address climate change’

“We believe that transportation by sea and air is at a multi-generational inflection point, with the need to decarbonize and digitalize dramatically accelerating,” said Joshua Politis, Deputy Managing Partner of Transport Capital and Chief Investment Officer of TC Ventures.

Established in 2013, Transport Capital provides maritime and aviation players with services such as investment management, financial advisory, and asset brokerage. Established in 2013, Transport Capital is an investment management and financial advisory company focused on maritime and aviation. Headquartered in Singapore, Transport Capital’s core expertise is in Real Assets and Private Capital Markets.

Ready to meet new startups to invest in? We have more than hundreds of startups ready to connect with potential investors on our platform. Create or claim your Investor profile today and turn on e27 Connect to receive requests and fundraising information from them.

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Top 10 community articles by women writers from the tech sphere

International Women’s Day is a day to acknowledge and honour women around the world for the contributions they make each day to society. With power enough to shatter the shackles of patriarchy, women are rising above societal hurdles every single day, making them a stronger force to reckon with, in modern times.

During the past few years, there has been immense progress in various programmes across the globe to help advance females in a number of domains.

Through our contributor programme at e27, we celebrate the contributions of our female writers. We applaud their innovative ideas, success stories, and dedication to take the world by storm.

How machine learning really impacts us in our daily lives by Janine Teo

Machine learning is now considered to be one of the biggest innovations since the microchip. It is used to be a fanciful concept from science fiction, but now it’s becoming a daily reality. If we know how to harness its power, it can help us lead a happier, healthier, and more productive life.

In this piece, Janine Teo, CEO of Solve Education! shows us how machine learning really impacts us in our daily lives. From automation to efficient computation, from rectifying blurry pictures to rapid damage assessment, the machine learning revolution is already all around you.

Beyond burn out: Why you should also celebrate the pursuit and not just wins by Aulia Halimatussadiah

To be burned out is to be used up like a battery so depleted that it can’t be recharged. In people, unlike batteries, it is said to produce the defining symptoms of “burnout syndrome”: exhaustion, cynicism, and loss of efficacy.

Many months ago, Halimatussadiah, the CMO of Remote Skills Academy Indonesia, the Co-Founder of Storial.co, a social storytelling platform, and NulisBuku.com, a print on demand platform, felt uninspired even though she was leading a beautiful life.

In this article, Aulia Halimatussadiah talks about what led her to exhaustion and how she came out of it thriving.

“I break goals in small chunks. I make it a habit to create a daily intention and checklist that will show my progress on that day. I notice and celebrate my micro-progress and write it down in my gratitude journal. I also celebrate progress with my team/best friends.”

How Malaysian workplaces need to manage the impact of “coronastress” by Catherine Chen

According to the World Health Organisation, mental health refers to a state of well-being in which individuals realise their abilities, can cope with the normal stresses of life, work productively, and contribute to their community.

The ongoing pandemic has pushed many beyond their limits from social isolation, resulting in potential long-term mental health issues and has sparked a new phenomenon coined as ‘Coronastress’, stress occurring due to the COVID-19 pandemic.

Also Read: Meet the 13 UN Women Care Accelerator startups transforming care work in APAC

Catherine Chen, the founding member of OKRs Coach Network, says, “According to the report released by IPSOS at the end of 2020, Malaysia has the highest level of anxiety among the 28 counties surveyed. For example, 67 per cent of Malaysian employees have increased stress due to changes in work routines and organizations, while the global average is 55 per cent.”

In this piece, Chen emphasises the compelling advantages of OKRs for building a value-driven mindset rather than task-driven mindsets and how workplaces can tackle corona stress effectively.

The long and winding road to e-commerce profitability by Vandana Agarwal

During the early stages of the COVID-19 pandemic, e-commerce was one of the biggest stories in retail. It is no longer considered an edge case, it is the future of retail. But as companies see the proportion of e-commerce sales increase dramatically, the urgency has arrived and recent consumer expectations like free and expedited shipping often have entrepreneurs barely coping with logistics costs.

Vandana Agarwal is the Sales Manager at ClickPost, Asia’s fastest-growing logistics intelligence platform for e-commerce. With technology to the rescue, she pens down her thoughts on how to make e-commerce businesses boom with more profits in the coming era.

5 foodtech trends that will reshape Southeast Asia in 2022 by Vanessa Techapichetvanich

The food industry has opened its doorway to new technologies and mobile application based services which led to an immense transformation in how the food industry operates. The recipe of food and technology has given birth to food technology.

Southeast Asia is a region that is intensely passionate about food. Every country in this part of the world has a long and proud culinary tradition that inspires great pride.

Vanessa Techapichetvanich, Co-Founder and CEO at Jamulogy, talks about how 2022 will be the year that homegrown food and tech startups in this region see rapid growth and perhaps even make a few international headlines. Having been long overlooked by the West, it’s about time Southeast Asian food culture gets its time in the spotlight.

Gen Z is saying no to climbing corporate ladders. Here’s what it means for Singapore’s startup ecosystem by Bernadette Cho

The dawn of Gen Z in the workplace, a digitally native generation, is beginning to influence employers and their decisions about the future of the workplace.

Their unique perspective about careers and life goals makes them the best fit for the post-pandemic workforce. Called the ‘change generation,’ Gen-Z and the second half of millennials prioritize purpose over money.

There is nothing more than an empowering work culture that keeps their passion alive. When it comes to Generation Z’s work ethics, it’s just not enough to have a compelling purpose; they need to look into the ever-evolving ‘work’ itself.

Bernadette Cho oversees the Singapore office and cohort at Entrepreneur First in Singapore, enabling the most ambitious and talented people to build startups from scratch. Cho reflects, “No longer fulfilled by the status quo, more Gen Z aspiring founders are proactively forging their own path.”

Also Read: A women-centric dating app developed by an ex-diplomat seeks to end Tinder’s dominance in Vietnam

How prepared are you to meet Gen Z in the workplace?

From sommelier to AVP of Customer Success at a tech unicorn: Lessons from my career journey by Wenjun Ai

The world has become so competitive that doing well in your job and moving forward with your career is more important now than ever. Career advancement and recognition are on every professional’s list of goals. But what sets the exceptional professionals apart?

Wenjun Ai, AVP Customer Success, APAC at AppsFlyer reflects on her recent promotion to the position of Associate Vice President (AVP) of Customer Success in just seven short years. She shares the three key takeaways that she has distilled from her journey.

“And if there is just one thing you remember, it should be that we should always keep trying, pushing, learning, and growing,” says Ai.

How to use Twitter to market your product as a founder by Michelle Marcelline

With more than 145 million active daily users, Twitter should be a part of your marketing strategy. It’s the fifth most popular social media network, and it’s a gold mine of customer insights and opportunities to build your brand, drive sales and win fans.

Michelle Marcelline, Co-Founder at Typedream, a powerful no-code website builder that is simple and intuitive leads the way on how you can approach Twitter with a plan of action to build your personal brand. Understanding how the platform works and how it fits in your overall social media strategy is the key to success.

How IP strategy is driving the ride-hailing services to success in SEA by Cheryl Chng

Ride-hailing has revolutionised the way people travel and commute. It has become an integral part of society in Southeast Asia and consumers are increasingly reliant on such services for their day-to-day activities. Notable companies include Grab, Gojek, Blue Bird, and many more.

Also Read: Check out this comprehensive list of 46 startup resources and opportunities for women

The ride-hailing industry is expected to grow at a compound annual growth rate (CAGR) of 6.3 per cent – almost double the global average. Cheryl Chng, Director of Vertex Holdings shares the catch behind their success story.

How this founder went from being a tutor to a modern-day mompreneur by Nuha Ghouse

Nuha Ghouse started out as an ambitious educator with a limited understanding of technology but a massive passion for education which grew to the establishment of the leading edutech platform, Tutopiya.

Ghouse, the Founder and CEO of Tutopiya shares her journey from being a tutor to a modern-day mompreneur. She says, “In today’s high-tech world, female entrepreneurship has enormous potential for fostering socio-economic growth. As new generations take charge and the world emerges, female entrepreneurs must be primed as there will be more great opportunities for women in the future.”

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

Join our e27 Telegram groupFB community, or like the e27 Facebook page

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Ecosystem Roundup: GoTo may raise up to US$2B in IPO, Singapore’s Insider turns unicorn

GoTo may raise up to US$2B in IPO at US$31-42.7B valuation
In a document, GoTo said it expects significant growth from 2022 to 2024 in terms of GTV; All eyes are on GoTo’s proposed listing after e-commerce giant Bukalapak became the first unicorn to make its public market debut on the local stock exchange last year.

Singapore’s Insider turns unicorn after US$121M funding
Qatar Investment Authority committed US$100M to the round; Insider enables brands to predict customer behaviour using AI and deliver personalised experience across multiple devices and channels.

CTO Corp, Bukalapak to launch US$69.7M e-commerce grocery JV
Bukalapak is understood to have about a 35% stake in the venture AlloFresh; AlloFresh is understood to have secured a US$20M investment from Growtheum Capital in exchange for a 10% stake.

SPH to sell SgCarMart for US$118M to Toyota consortium
The report comes days after SPH Media Trust, which was spun off from SPH in 2021 as a nonprofit, said it will get funding of up to US$132M from the Singapore government annually for the next five years.

Indonesian agritech startup TaniHub closes 2 warehouses, lays off employees
The company has decided to focus on its B2B segment, which includes hotels, restaurants, and modern trade retailers; It has also stopped selling fresh produce directly to customers.

Animoca invests in Hong Kong NFT platform UCOLLEX’s US$10M Series A
MCP IPX One Fund also co-invested; The UCOLLEX platform caters to the next-generation creators by making their NFT artwork available to toy and pop culture collectors; It also enables creators to build their fanbase economy.

Singapore DeFi startup DeZy raises US$2.2M pre-Series A funding round
Investors are Leo Capital, Iterative Capital, and angels; DeZy enables users to convert their cash into dollar-denominated stable coins, which are deposited across a range of DeFi protocols.

SpaceAge Labs nets US$1.25M to take its remote monitoring, IoT solutions to Aus, US
Investors are Silicon Solution Partners (lead) and SEEDS Capital; SpaceAge Labs carries out operations and maintenance of remote and distributed assets by collecting asset data using low power, long-range wireless IoT devices

Singapore ideal hub for expansion of Southeast Asian tech
The nation acts as ideal for cross-regional expansion because of its international reputation and government initiatives to cultivate investment, talent, and connections; It is home to over 600 investors and 200 accelerators and incubators.

DOST, Digital Pilipinas (DP) to build decentralised innovation centres
The agreement came a month after DP sealed a tripartite collaboration with Mapúa University and the DOST-PCIEERD to launch the Think and Tinker Laboratory – Technology Business Incubation (TBI) programme in promoting academe-industry-government collaboration.

TikTok Shop enters Thailand, Vietnam, Malaysia
TikTok Shop allows locally based consumers to buy a wide array of goods while also offering businesses more opportunities to make sales via the app; TikTok also performed A/B testing in Indonesia earlier this month.

YGG SEA enters Vietnam, plans more offices in region
The sub-decentralised autonomous organisation has already set up shops in Malaysia, Thailand, and Indonesia; The guild said that YGG SEA participates in more than 30 games, including Axie Infinity and Starsharks.

Fast-growing e-commerce fuels delivery service boom in Vietnam
The pandemic has given a remarkable push for the revolution of e-commerce, with 4 leading online marketplaces reportedly expanding around 8-50% last year; There was a significant surge in the number of orders on e-commerce sites between June-September.

Ready to meet new startups to invest in? We have more than hundreds of startups ready to connect with potential investors on our platform. Create or claim your Investor profile today and turn on e27 Connect to receive requests and fundraising information from them.

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Feeling the pressure to boost your startup? Let e27 PRO+ help you

e27 Pro Plus

As an ecosystem platform designed the strengthen the global startup community through networks, fundraising, and awareness, e27 is dedicated to helping today’s innovators become tomorrow’s global powerhouses. We have spent 15 years doing this through a range of services: from providing access to tools and insights that empower founders to forging connections that enable partnerships between stakeholders, and even to driving up content to help effectively engage audiences.

With the Asia Pacific throbbing at the heart of e27’s vast global network, it is important for us to highlight and provide access to opportunities for entrepreneurs from the region and beyond. As such, we are proud to announce the latest feature that we believe can help entrepreneurs amp up their startups to get that much-needed boost: e27 PRO+!

Taking Pro a notch higher

e27 PRO+ operates under three fundamental areas:

  • Branding and Awareness
  • Lead Generation
  • Fundraising 

With its regional network spanning across the Asia Pacific and beyond, e27 has firmly cemented its position as a community builder in the global tech startup ecosystem. Furthermore, the organisation has built partnerships with some of the most reputable brands including VISA, ADB Ventures, SMU, MDEC, Enterprise Singapore, ICMG, and many more.

In the past two years, the team successfully launched the e27 Pro programme, a networking platform designed to help connect startups and investors for more meaningful business partnerships amid the ongoing COVID-19 pandemic. Providing access to top investors around the world, the e27 Pro programme now boasts as many as 140 diverse global startups ranging from e-commerce to healthtech.

Also read: Sagri: Bringing agriculture to the future and sustainability to the forefront with satellite data, AI, and GRID

Through Startup Connect, e27 has facilitated almost 10,000 connections between startups and investors, with two startups being able to bag multi-million dollar funding, namely logistics and supply chain company, iStore iSend, and SaaS recruitment solutions provider, X0PA. On one hand, iStore iSend raised US$5.5M in a Series B round, co-led by EasyParcel and Gobi Partners, while X0PA raised US$4.2M in a Series A round with XCEL NEXT Ventures.

They’re not the only ones enjoying this new platform. Travis Teo of Adzymic shared, “My cofounder and I really love this initiative, allowing us to connect with investors whom we had difficulty reaching. The connect rate is also more than our expectation, especially during this period.” Similar sentiments were echoed by Workbean’s Neil Rojas who explained, “The platform makes it easier to identify which investors to reach out to because data is presented in a way where we can easily filter things such as funding stage, markets, funding amount. The ease of reaching out to start a conversation is very valuable for us.”

While this endeavour has been a real game-changer, the e27 team believes that with access to extra tools, there is still so much more that can be accomplished.

What is e27 PRO+

More than the already proven fundraising feature that has helped startups connect, gain feedback, and discuss potential investment opportunities, e27 PRO+’ slew of new tools are here to help bolster companies beyond their fundraising journeys.

The new programme comes with a branding and awareness boost that helps shine a spotlight on the brand and amplify its presence in the startup ecosystem. e27 PRO+ achieves this by positioning startup founders as thought leaders, as a go-to entity in their respective verticals, and generally raise brand awareness.

This is packaged through e27’s media arm — connecting companies to relevant audiences and allowing them to discuss matters that they find most important. This media feature is broadcasted across e27’s 750,000 average monthly sessions, 150,000 registered users, and 71,000 newsletter subscribers. The team will also be featuring brand content across all relevant social media platforms such as Facebook, Linkedin, and Twitter.

Also read: Sagri: Bringing agriculture to the future and sustainability to the forefront with satellite data, AI, and GRID

Moreover, e27 PRO+ also helps companies improve lead generation by facilitating engagements and bridging the gaps between the parties — to educate, establish a foundation of trust, and nurture a pipeline for potential business opportunities. Apart from the newsletter banner ad placement and the social media feature, e27 PRO+ achieves this by highlighting brands through a special widget featured on the e27 website as by hosting a full webinar session dedicated to that company and its expertise.

As for fundraising, e27 PRO+ enables startup founders to build comprehensive startup profiles on the e27 platform, coupled with the connection dashboard to manage conversations with active investors. Not only does this help both startups and investors reach each other more efficiently, but it also streamlines the process of going back and forth to learn about each other’s important fundraising details (e.g. fundraising stage).

These are only some of the amazing and exclusive improvements that come with the e27 PRO+. 

How e27 PRO+ can amp up your startup journey

All these things sound great. But how can these exclusive e27 PRO+ features truly and tangibly impact your startup growth? For starters, the platform caters to your startup needs on an end to end basis. From building brand awareness to establish your presence in the ecosystem, to generating leads that can help you meet and sustain your business goals, to fundraising that can help your company grow and scale globally.

Also read: Sagri: Bringing agriculture to the future and sustainability to the forefront with satellite data, AI, and GRID

Of course, founders can go about these three crucial aspects of a startup journey on their own, but what e27 PRO+ does is collate them under one convenient platform. Through this, startups are able to save important time and resources that may as well go to day to day operations.

With e27’s mission to become a catalyst for a stronger and more vibrant startup ecosystem not only in APAC but across the world, e27 PRO+ is further strengthens the team’s commitment to its mission. If you are a startup that believes in the same values of enriching connections and building partnerships, visit us at e27.co.

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Singapore neobank IN Financial Technology acquires 500 Global-backed MyCash

Eldwin Wong, CEO and Founder of INFT Group

Singapore-headquartered community-driven neobank IN Financial Technology (INFT) has fully acquired MyCash, an international money transfer company focused on migrant workers.

The size of the deal has not been disclosed.

As per a press note, the deal will enable INFT to take advantage of MyCash’s consumer remittance business. At the same time, Singapore-based MyCash will expand geographically into other Asian markets, including Malaysia and Indonesia.

Post-deal, MyCash leadership will continue to work with IN Financial Technology. MyCash Founder and CEO Mehedi Hasan will retain his position while helping the neobank expand in emerging markets.

IN Financial Technology is a one-stop employer-to-employee fintech platform. It aims to empower micro and small businesses in Asia to transform their business banking processes from traditional to digital. Its solutions include an online business account, virtual debit card, spend management tools, and business cash line.

Also Read: MyCash raises funding from 500 Startups; to take its financial services platform for unbanked migrant workers into new markets

Started its operation in Singapore last year, IN Financial Technology has also established its operations in Malaysia and Indonesia. It has already secured a lending license in Malaysia and is in the process of securing an e-wallet license in Indonesia. It plans to extend its network to seven markets in Asia, including Vietnam, Thailand, Sri Lanka, Nepal, and Bangladesh.

“The expanded demand for cross-border B2B remittance will continue to drive further growth for both companies,” said Eldwin Wong, CEO and Founder of INFT Group. Last month, INFT said it was rolling out a buy now, pay later feature, called INFT BNPL, to help customers grow their businesses.

MyCash Founder and CEO Mehedi Hasan said the acquisition amplified the value of its offerings to its shareholders and stakeholders with the strategically-planned growth trajectory to strengthen its position further. “Additionally, INFT’s business banking platform will enhance MyCash’s efforts to drive expansion for its B2B and B2C remittance solutions.”

Mehedi said he is currently working on a new SME buy-now-pay-later business in Bangladesh.

Launched in 2016, MyCash provides a tailor-made platform for the unbanked migrant population. It enables migrants to purchase products and services online without using bank accounts, credit cards or prepaid cards. Its services include mobile top-up, internet recharging, online insurance, e-commerce payments, and cross-border remittance. Users can pay bills and buy bus tickets through MyCash.

In 2019, MyCash secured an undisclosed amount in financing from 500 Startups and Malaysian architect Ng Sek San. A year earlier, MyCash raised RM500,000 (US$120,000 then) through equity crowd-funding platform pitchIN

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CM.com enables growth for Southeast Asian businesses and beyond

CM.com

VUCA leadership for your business has become more vital than ever before. The past few years have allowed us to witness how volatile, uncertain, complex, and ambiguous running a business can be. Further emphasised by today’s changing environment and mobility restrictions, many businesses have unfortunately not weathered through this ordeal.

The shift to taking businesses online becomes ever more imminent. Doing this shift well in a way that continues to provide that personalised experience to customers is key in order to set your business apart.

Small and medium businesses (SMEs) are considered the backbone of Southeast Asia’s economy, representing 97% of overall business in SEA. Unfortunately, market volatilities brought about by the ongoing pandemic have caused over half of SMEs to close in several SEA countries. Given changing market trends, technology adoption becomes imperative for businesses to adapt, survive, and thrive. Particularly, enabling great customer service in this shift is vital.

Also read: Sagri: Bringing agriculture to the future and sustainability to the forefront with satellite data, AI, and GRID

As businesses transition from offering their services from an offline to an online environment, it is important to know the opportunities that come with providing seamless customer experiences. It’s good to keep customers engaged, and give them the information that they need when they need it to keep them satisfied.

CM.com brings conversational commerce best practices to Southeast Asia

Enter CM.com (AMS: CMCOM), the global leader in cloud software for conversational commerce that enables businesses to deliver a superior customer experience. Headquartered in the Netherlands and being in business for over 20 years, its customers include big brands such as Coca Cola and the BMW Group, in addition to thousands of medium and small-sized businesses. As the number 1 software suite for Conversational Commerce, CM.com is at the forefront of this field with vast experience across industries and has been duly recognised and accredited by reputable organisations like the GSMA, European Commission, and PCI DSS.

CM.com evangelist Michiel Gaasterland shares that their award-winning Mobile Service Cloud platform handles over 50 million human messages annually. When asked about emerging trends in the e-commerce marketing space, Michiel shares, “The overarching trend is rising customer expectations. Customers now expect you to be available when they need you. They want to use the channel they prefer. And they want to speak to a friendly, knowledgeable agent, capable of solving their problem in one interaction.”

CM.com’s solutions enable more seamless experiences for your customers, setting your business further ahead. They have various customer touchpoint modules including customer engagement, audience reach, customer contact automation, message personalisation and conversation monetisation. They also have multi-channel solutions, via SMS, voice and online chat, providing personalised service experiences for customers through AI-powered contextual conversations. Seamless and customised mobile marketing experiences are also achieved based on unique customer preferences, thereby optimising customer touchpoints for monetisation.

Delivering relevant solutions to the hyper-empowered consumer in the realm of digital becomes more competitive than ever. Staying ahead through impeccable customer experience from engagement to retention can be streamlined through CM.com’s Mobile Service Cloud and Mobile Marketing Cloud solutions. Mobile Service Cloud is an all-in-one customer service solution for customer service teams to maintain full visibility of all support engagements in one place.

Also read: Sagri: Bringing agriculture to the future and sustainability to the forefront with satellite data, AI, and GRID

Mobile Service Cloud addresses various customer service challenges. Michiel elaborates how CM.com’s solutions solve these, Mobile Service Cloud offers a truly channel-agnostic customer service solution: all core functionality works out of the box for all service channels, as well as providing easy access to all these channels such as e-mail, live chat, SMS, WhatsApp, Messenger, Instagram DM, Twitter DM, Apple Messages for Business, as well as third party VoIP systems — and just released: native Voice capabilities. Mobile Service Cloud also adapts ‘conversations’ as the currency of the system, and not ’tickets’. Old school helpdesk systems turn questions into tickets and people into numbers.”

Michiel added, “We believe customer service is a conversation. Not a chess game that carries on for days. At CM.com, we like to say: ‘No queues, no tickets, no dramas.’ Old school ticketing systems all work with a queue. Since the queue is not owned by anyone, customers are left unattended. It also causes agents to cherry-pick the easy questions first, and leave the difficult ones for later. Lastly, queues create a cluttered overview because all support requests (with different statuses) remain in the queue until final issue resolution. In short: conventional ticketing systems are focused on the internal process, not on the customer. We solve this completely differently with a user interface that allows agents to put the customer back on #1.”

Sustaining service standards

More benefits to your business can be realised through CM.com’s solutions. While simple customer queries can be addressed through AI automation, more complex queries need human support. CM.com enables your team to deliver an experience to your clients where there is no drop in terms of service standards in the transition, as all conversations are appropriately tracked and documented.

Your business can also cut back on typical response times. CM.com’s Mobile Service Cloud solution consolidates information across multiple sources from the customer relationship management (CRM) software, the customer data platform (CDP), and the enterprise resource planning (ERP) systems. Rather than having customer service agents dig for the relevant information across platforms, CM.com enables a streamlined experience for customer service support to efficiently solve customer concerns). The solution also enables your customer service team to effectively engage with your clients through their most preferred channels.

Also read: Sagri: Bringing agriculture to the future and sustainability to the forefront with satellite data, AI, and GRID

With respect to engaging with businesses in Southeast Asia, CM.com has not only considered globally renowned customer touchpoint channels to be integrated into their system but also provides channel integration of those dominantly used in Southeast Asia like Viber and Instagram — providing more options beyond the typical choices of just email and phone. 

Mobile Service Cloud integrates conversations of customers across the multiple channels they may be using, making it more efficient to solve customer concerns. With CM.com’s Mobile Service Cloud solution, your customer service representatives no longer operate in silos, but as a collective unit providing the best possible customer experience. Michiel further notes, “We offer advanced analytics that allows our customers to analyse and optimise their service performance. By automatically tagging all service conversations, customers can learn from their conversations and optimise the parts of the journey that contain friction. By connecting your Mobile Service Cloud to CM.com Customer Data Platform, you can truly integrate Service into your overall Engagement plan. Because who still sends a customer a marketing message one the same day they filed a complaint with your service department? Not CM.com customers.”

CM.com’s Mobile Service Cloud enables this synergy through a technology solution that is intuitive, easy to use, and adaptable.

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This article is produced by the e27 team, sponsored by CM.com

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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Why the ‘Downfall’ of Boeing is a big lesson on diversity for all of us

Between 2016 to 2018, I was taking Lion Air flights approximately twice a month to Indonesia.

Lion Air flights were the most affordable (a fancy word for cheap), especially as I run on an NGO budget. And on 29 October 2018, Lion Air Flight 610 crashed into the water, and all 189 people on board did not survive.

I could have been in the plane that crashed

A recent Netflix documentary “Downfall” looked into the case against Boeing.

I teared when I saw the familiar Lion Air planes and Jakarta airport. It appears that Boeing’s company culture took a turn after the merger with McDonnell Douglas in 1997. The company started to focus more on sales instead of engineering.

In 2003, Europe’s Airbus overtook Boeing in terms of market share. Airbus A320neo’s fuel efficiency increased demand for Airbus’s aircraft. Boeing had to come up with something fast and was under pressure from Wall Street to deliver.

As a result, Boeing 737 Max was launched and sold to airlines worldwide.

The blame game

When Boeing 737 Max crashed in Asia and Africa, fingers were pointed at the Asian and African pilots instead of the American aircraft manufacturer.

Even though the pilots of Lion Air and Ethiopian Airlines were well trained and highly qualified, Boeing said that the pilots did not do what they were supposed to.

When the black boxes were retrieved, it was revealed that the pilots did what they were supposed to do and that the Boeing 737 Max was faulty.

Further investigations showed that Lion Air reached out for more training for their pilots for the new 737 Max planes. Boeing belittled them and refused to conduct additional pilot training.

Boeing 737 Max continued flying until China took the lead to ground this aircraft unilaterally

Boeing stood by their statement that their aircraft were safe to fly and had the US government’s support. No countries grounded Boeing 737 Max despite the two deadly crashes.

Also Read: Why innovations in the air traffic space remain a priority for a more resilient future

China was the first country to ban 737 Max planes. Australia, Canada, Singapore, Indonesia, Europe, New Zealand, etc. followed suit.

Prioritising profits over passengers’ safety

Boeing engineers raised their concerns for safety but were shut down by Boeing’s executives.

The “revolutionary” 737 Max includes a significant change, a new software: MCAS, which pushed the nose of the aircraft down, causing the two crashes.

From the documentary, it appears that Boeing wanted to avoid the expensive costs to train pilots and categorised MCAS as a minor change.

Over 300 people lost their lives as a result. But Boeing’s share price was unaffected.

Even though Dennis Mullenburg was fired, he walked away with over US$60 million. There must be consequences for people who disregard public safety.

Lesson on diversity for all of us

Here are my takeaways:

  • If we were not biased towards Indonesia’s Lion Air, we might have caught the default in Boeing 737 Max earlier, and the second crash might not have happened.
  • If we did not prejudice Ethiopian Airlines, countries could have grounded 737 Max much earlier.
  • The world needs diverse voices. The USA cannot be the dominant voice that “leads the world”. We need Asian, African, Middle Eastern, Latin American, etc. voices at the table to hold each other accountable. I shudder to imagine if China did not lead ground 737 Max, how many more lives would have been lost?
  • A company needs to heed the voices of their engineers as much as their sales and marketing people.

Perhaps I feel more strongly about this due to my close proximity to Lion Air. I would love to hear what your thoughts are.

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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Image Credit: almir1968

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