SEA’s blockchain-based zero-commission ride-hailing firm TADA raises US$5M led by Korea’s Central; TADA plans to distribute and sell about 10K electric auto-rickshaws, E-TukTuk, in Cambodia by 2021; TADA says that over 81K drivers, 550K+ users have used its service in Singapore, Vietnam and Cambodia. e27
SEA to see 310M digital consumers by end-2020; This means ~70% of the population that are 15 years old and older will go digital by end-2020, and the average online spending per person will triple from 2019 to US$429 in 2025; SEA’s e-commerce GMV grew 23% per year between 2018 and 2020, faster than China, India and the US during the period. DealStreetAsia
Thai agro-industrial conglomerate CP Group to buy HK e-commerce startup Chilindo for US$18M; The acquisition by its digital arm, Ascend Commerce, will complement its online shopping WeMall platform and develop Thailand’s digital economy; WeMall competes with Lazada, Shopee and JD Central. Reuters
How COVID-19 will pave the way for deeper tech cooperation between LatAM, SEA; LatAM has much to gain from the technological know-how of SEA; The similar population sizes, economic realities, and rapid increase in internet penetration rates underscore the adaptability of digital solutions across both regions. e27
Is construction tech the next big thing in SEA?; Construction tech startups can improve productivity, diminish delays and secure safety; It is genuinely benefiting the construction sector in areas such as field productivity, collaborations and back-office management. Tech Collective
Singapore, Australia sign digital economy agreement; They have agreed to set new rules to prevent unnecessary restrictions on the transfer and location of data, improved protection for software source code, and ensure compatibility between e-invoicing and e-payment frameworks. Open Gov
After the pandemic, higher education can’t afford to go back to ‘normal’; Simply delivering curricular materials online doesn’t constitute real innovation; Unfortunately, the “sage on the stage’ from before the coronavirus has now become the “sage on the computer screen”. EdSurge
COVID-19 and the rise of live commerce in SEA; By using a combination of live-streamed mini TV shows, competitions and product demonstrations, companies such as Lazada, Shopee and Tokopedia can boost their sales and make the whole shopping experience more interactive. Tech Collective
Singapore’s proptech platform Ohmyhome to set up operations in Philippines; It provides a hybrid model of a DIY platform and full-fledged agency services; The platform has 175K+ active users, 15+ listings of real estate properties to date; Ohmyhome has raised US$2.9M from Golden Equator and K3 Ventures. Malaya Business Insight
How startups can benefit from early investment in tech; Early investment in tech with a strong vision for the future means you are more likely to make the right decisions for the long term; It will also help to avoid mistakes that limit growth and to eliminate wastage. e27
Cybersecurity threats on the rise as companies shift to the WFH model; Those working from home don’t have the bolstered security of an office environment, as most home networks usually have weaker protocols; Google reported that more than 18M phishing emails were sent through in April. e27
Why a pandemic is a good time to experiment and innovate on behalf of your customers; Most people don’t want to buy product A or service B, but rather solve a problem using product A or service B; The sale happens when the customer feels the perceived value of the solution is higher than the price he will have to pay for the product or service. e27
Kay Mok Ku of Gobi Partners thinks VCs will become like influencers in a post-pandemic world; In his view, a new concept or a big market are both important; A new concept for a small market will not attract VC funding; a big market with an existing concept has no defensive moat so VCs will be concerned. e27
Smart pitches ‘real’ 5G network for Filipino businesses; The mobile operator formally announced the activation of its commercial 5G service on July 30, with the initial phase of deployment in key business districts of Metro Manila; The firm claims it has the country’s most extensive fibre network footprint at over 307K kilometers. NewsBytes.ph
China’s WeWork rival Ucommune withdraws US$100M US IPO, eyes backdoor listing; Beijing-based Ucommune is under increased pressure to shore up investors’ confidence in its loss-making biz; There are also growing concerns ignited by WeWork’s IPO fiasco in 2019 and the more recent accounting scandal of Luckin Coffee. DealStreetAsia
How are the co-working spaces doing during the pandemic?; The industry is undergoing a fundamental shift with greater focus on ensuring safety and wellbeing of employees and guests; The WeWork spaces have been modified with staggered seating and buffer zones to help members maintain a healthy physical distance. KrAsia
Renewable energy and the new normal in Indonesia; One of the types of energy that can be cultivated and become the most prospective business fields in the future is solar photovoltaic and wind; The 2 businesses were able to restore the level of confidence in energy investment, which according to the International Energy Agency (IEA) fell 20% in 2020. OpenGov
Vietnam startup Computer Vision Vietnam (CVC) eKYC receives US$500K investment from NextTech Group, Next100.tech fund; CVS eKYC offers AI to recognise face and characters, detecting invalid papers and faces to provide a complete and fully automated eKYC solution. Vietnam News
3 Indonesian startups selected for Google Accelerator; Hacktiv8, Kata.ai, Riliv will undergo the 3-month online programme for high potential seed to series A tech startups; They will join 12 other startups that were chosen from 600 companies proposed from SEA. The Jakarta Post
OVO claims it’s now Indonesia’s largest fintech ecosystem; The Lippo-backed startup first joined the e-money boom in 2017 and later expanded to P2P lending, investment, insurance, multifinance; Lippo has 600,000 merchants, of which 550,000 are MSMEs. Jakarta Globe
How tech can transform your employee experience; In the future, the success of workplace analytics will be determined by its ability to impact the humans running the business and employee productivity, rather than real estate or its footprint. Human Resources Director
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The post Ecosystem Roundup: TADA raises US$5M; Thailand’s CP Group to buy Chilindo; SEA to see 310M digital consumers by end-2020 appeared first on e27.