Dear reader,
The recent analysis of Southeast Asia’s tech startup ecosystem underscores the region’s emergence as a powerhouse for innovation and investment. Over the past five years, healthtech, edutech, and blockchain technology have dominated funding trends, reflecting the region’s dynamic economic landscape.
Healthtech’s rise, particularly post-pandemic, highlights a significant shift towards digital health solutions, driven by increased early-stage investments and the demand for efficient healthcare delivery. Similarly, edutech saw a pandemic-driven surge, though its momentum has slowed since 2021 as the demand for remote learning solutions decreased.
Blockchain Technology, despite a dip in 2023, remains resilient with a notable recovery in 2024, underscoring the sector’s adaptability and ongoing relevance. This resilience is mirrored in the steady growth of energytech and the resurgence of the gaming sector, both gaining traction with renewed investor interest.
Southeast Asia’s tech landscape continues to evolve, marked by significant contributions from these sectors. As the region navigates post-pandemic realities and leverages its strengths, it is well-positioned to solidify its status as a global hub for technological innovation and investment, attracting global attention to its burgeoning startup ecosystem.
Sainul
Editor.
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NEWS & VIEWS
Healthtech, edutech dominated SEA’s funding scene in past 5 years: Tracxn
Insurtech, Blockchain, energy tech and gaming also gained significant momentum in terms of funding in the last five years.
Ovo’s future at stake as Grab pushes Superbank in Indonesia
Grab’s integration of the digital bank Superbank with its app in Indonesia, means Ovo – the e-wallet that Grab has a 90% stake in – will have to compete against the digital bank for transaction volume in Grab’s platform.
EDB commits US$25M to drive corporate-startup collaborations in Singapore
Corporates will work with EDB’s Open Innovation Partners to connect with high-quality startups and partner with them to achieve meaningful commercial outcomes.
Singapore’s Hatcher+, Australia’s Mandalay team up for agtech investment
The partnership seeks to accelerate the growth of startups focusing on solutions from ‘farm-to-fork’; This includes on-farm technologies, farm gate solutions, supply chain innovations, and point-of-sale advancements.
Fleet-tracking startup TransTRACK raises US$12M to expans into Singapore, Malaysia
The investors include Eurazeo, Cocoon Capital, and AppWorks; TransTrack offers an AI- and IoT-powered fleet management system, transportation management system, and truck appointment system for logistics companies.
Philippines launches roadmap to boost Metro Manila’s startup ecosystem
The SCALE NCR initiative aims to map out 17 cities across the NCR to identify opportunities for collaboration and support for startups, guiding the creation of a five-year Startup Development Roadmap for the region.
Cyber risk management startup Protos Labs lands US$2.3M investment
The investors include A2D Ventures, BEENEXT, VinaCapital, and Artem Ventures; Protos Labs is an AI-driven platform that enables enterprises and insurers to reduce cyber risk exposure better and underwrite and price cyber risks.
SurplusLoop attracts funding to streamline surplus asset management process
Antler is the backer; SurplusLoop uses predictive analytics to connect a network of companies and accurately value assets like equipment and machinery.
VinFast strives for first-mover advantage at Middle East’s nascent EV market
VinFast’s selection of the Middle East as one of its key markets is intriguing, considering the region’s historical dependence on fossil fuels and a track record not typically associated with environmental consciousness.
Elon Musk, Tesla win dismissal of lawsuit claiming they rigged dogecoin
A federal lawsuit accuses them of defrauding investors by hyping the cryptocurrency dogecoin and conducting insider trading, causing billions of dollars of losses.
Naver launches crypto wallet in partnership with Chiliz
In South Korea, more than 97,000 online and offline merchants use Naver Pay, a payment service that started its life on Naver’s e-commerce platform Naver Shopping.
FEATURES & INTERVIEWS
Driving the future of EV charging: Beep’s Kristoffer Soh on scaling and innovating across Southeast Asia
‘The main challenges for Beep are building credibility and trust, especially when expanding beyond our home base in Singapore’.
Empowering female entrepreneurs: MADCash develops a ‘unique’ approach to micro-funding
MADCash combines zero per cent micro-funding with entrepreneurship development for the women enterpreneurs that it serves.
Echelon X: Nurturing the next unicorn in Indonesia’s tech ecosystem
The Echelon X fireside chat provided a comprehensive look into the dynamic landscape of Indonesia’s tech startup scene.
6Estates CEO Huanbo Luan: Public sector plays a key role in nurturing AI ecosystem in Singapore
Supportive policies that promote AI adoption, development, and funding are crucial to strengthening companies’ ability to retain talent.
Echelon X: Growing beyond borders – Scaling opportunities and challenges outside local markets
The Echelon X panel provided insights into the opportunities and challenges faced by local businesses expanding internationally.
Kyrim eyes B2C market expansion with new solutions by 2025
Founded in 2023, Indonesia-based Kyrim is a fintech service specialising in spend management for corporate finance teams.
Jeffrey Liu: Transforming fintech and democratising access to capital
Liu aimed to innovate a financing product that empowers high-growth companies without the burden of constant fundraising or extensive due diligence.
Echelon X: Driving growth through innovative marketing – Insights from Asia’s experts
The Echelon X panel provided a look into the latest trends and best practices in digital marketing, social media engagement, customer acquisition, and brand building.
AI leapfrog: Paving the way for an AI-first tech ecosystem in the Philippines
While investors have shown interest in the Philippines, startups still struggle to secure the funding to develop their technologies.
Echelon X: Unlocking the potential of the Philippines in Southeast Asia’s growth story
The Echelon X panel provided insights into the untapped potential of the Philippines as a key player in the region’s economic growth and innovation.
THOUGHT LEADERSHIP
Server sanctuaries or net-zero derailers? Southeast Asia’s data centre dilemma
Data centre operators must prioritise cooling systems that handle heavy computing and AI, while maintaining efficiency and safeguarding hardware.
How blockchain can revolutionise ticketing without disrupting the user experience
We now have blockchain platforms that are more efficient, cost-effective, and, crucially, better integrated with existing payment methods.
Debunking myths: The truth about distributed workforces
As we challenge these myths, it becomes evident that distributed workforces are not only viable but also advantageous for modern businesses.
Mastering the craft: 5 essential tips for elevating your B2B marketing game
By treating marketing as a craft, you not only improve your skills but also deepen your connection to the work you do.
A step-by-step guide to protecting your time and energy: The art of pre-qualification
Learn to protect your time and energy by pre-qualifying people and opportunities, setting boundaries, and trusting your instincts for a more balanced life.
The art of balancing speed and sustainability in a fast-paced world
Balancing speed with sustainability has taught me that real success comes from combining quick progress with thoughtful, long-term impact.
5 reasons why energy management is key to individual and organisational success
The ability to manage your energy effectively can dramatically impact personal performance, leadership effectiveness, and organisational success!.
The 3 ways younger generations are boosting financial inclusion
Millennials and Gen Z are reshaping finance with their digital-first mindset, advancing global financial inclusion.
FROM THE ARCHIVES
YouApp helps users find their match using AI and astrology
Singapore-based YouApp aims to differentiate its matching capabilities by matching people for work, play, and dates.
Need an angel to back your early-stage startup? Here are 5 types of investors you should look for
Given that the startup ecosystems are fairly less mature than the US or Europe, the angel investing community tends to be less sophisticated and comes in very interesting shapes and sizes.
The essentials of mapping a customer journey across digital assets
For a digital platform, optimising the customer journey is the key to extracting the maximum value out of them.
The climate change and gender equality connection: How to support underfunded women-owned business
While there is a distinct relationship between gender inequality and climate change, investment mandates rarely combine both of these lenses.
Unlocking green fintech prosperity in Asia: Navigating the top 4 challenges
Despite the ongoing ‘funding winter’ faced by global startups, the trajectory of development for green fintech has shown strong momentum.
Navigating the AI landscape in 2024: Why there is an urgency for enhanced governance
There are two points that stand out in 2024, starting with how AI will experience a shift from a “nice-to-have” to “must-have”.
E-motorcycle adoption in Indonesia: How to tap into this US$19.2B opportunity
In 2022, there were already 25,782 e-motorcycles in Indonesia, with more than 1,500 swapping stations available per Q1 2023.
Will digital banks take off in the Philippines?
Technology is now turning the Philippine’s unbanked population into a viable demographic with enormous potential for financial institutions.
AI in journalism: Thai media show a 95 per cent adaptation rate despite concerns about overreliance
A contrasting attitude was expressed by journalists in the Philippines with only 52 per cent have integrated AI into their work.
Infrastructure, talents are some of the challenges finance industry faces in adopting AI: Provenir
Despite increasing use cases, Provenir sees that there are challenges that the finance industry has to tackle to successfully adopt AI.
Using AI on e-commerce analytics: Data quality, availability remain critical obstacles
Data accuracy, cleanliness, and consistency are essential for building reliable AI models for e-commerce analytics.
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