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Report: Despite significant tech funding decline in 2024, Singapore emerges as standout performer

The Southeast Asian (SEA) tech sector faced a challenging year in 2024, with startup funding plummeting to US$2.84 billion—a 59.14 per cent decrease from US$6.95 billion in 2023, according to the Tracxn Geo Annual Report: SEA Tech 2024.

This sharp decline marks an 80 per cent drop compared to the funding levels seen in 2022, underscoring the sector’s struggles amid a broader global downturn in tech investments.

The decline in SEA was observed across all funding stages. Seed funding fell by 52.4 per cent, while early-stage funding contracted by 28.6 per cent.

Late-stage startups were hit hardest, experiencing a staggering 76.9 per cent drop in funding.

The fourth quarter of 2024 proved particularly weak, with funding totalling just US$494.8 million—the lowest quarterly figure for the region in five years. This represented a 12.65 per cent decline from the third quarter and a 62.9 per cent year-over-year reduction.

Also Read: Startup funding in Southeast Asia sees a 9% uptick in August: Tracxn

Adding to the bleak picture, the report highlighted declines across key indicators of startup activity. The number of funding rounds dropped by 22 per cent, while first-time funded companies decreased by 28 per cent.

Initial Public Offerings (IPOs) declined by 53.85 per cent compared to 2023. Mergers and acquisitions were also subdued, with a 17.11 per cent year-on-year decrease in 2024.

The report offered limited insights into the reasons behind these declines, although it noted that SEA tech accounted for just one per cent of global tech funding in 2024. Broader trends in the global funding landscape likely contributed to the downturn as similar declines were observed in other major markets, including the US, Europe, India, and China, reflecting a widespread pullback by investors.

While Southeast Asia’s tech ecosystem remains a vibrant hub for innovation, the funding slowdown in 2024 highlights the challenges startups face in an increasingly cautious investment climate. The region’s long-term growth potential remains intact, but navigating this downturn will require resilience and strategic adaptation from startups and investors alike.

Singapore leads the pack

Singapore emerged as a standout performer in SEA’s tech landscape in 2024, securing 67.86 per cent of the region’s total tech funding, according to the report. Despite an overall regional decline, Singapore attracted US$1.9 billion in funding.

The city outpaced its regional peers, with Jakarta securing US$276 million and Bangkok receiving US$261 million in funding, placing them second and third, respectively. Singapore’s dominance in the funding landscape is attributed to its stable economic environment, supportive government policies, and a well-developed talent pool.

Also Read: SEA startups raised US$371M across 42 rounds in March: Tracxn report

Key sectors driving investment across the region were fintech, high tech, and enterprise applications, which collectively accounted for a significant portion of the US$2.84 billion raised by SEA tech firms in 2024.

Of these different verticals:

– Fintech led the pack, attracting US$1.4 billion, though this represented a 29 per cent decrease compared to 2023
– High tech followed with US$966 million, reflecting a 25 per cent decline from the previous year
– Enterprise applications secured $764 million, marking a 32 per cent drop from 2023

Despite these declines, investor interest in these sectors remains strong, highlighting their potential for long-term growth in the region.

The report does not offer projections for 2025, but it notes trends that may shape the coming year. While the global funding downturn could continue to impact SEA, Singapore’s resilience suggests a potential bright spot for regional investment, particularly if the city-state sustains its momentum.

Investor confidence in specific sectors, such as fintech, high tech, and enterprise applications, also signals potential areas for growth. While challenges persist, these industries continue to attract significant attention, positioning them as key drivers for the region’s recovery.

Image Credit: Helena Lopes on Unsplash

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Celebrating community-driven growth: Top 27 contributors of 2024

Our top 27 contributors of 2024

At e27, we believe that fostering community-driven growth is essential to building a platform that thrives on collaboration and shared knowledge. The industry insights contributed by our community members bring immense value, helping professionals across sectors stay informed, inspired, and connected.

As we approach the end of the year, we take a moment to celebrate the voices that have shaped our platform. Here’s a round-up of 27 noteworthy contributors whose insights and expertise stood out. Their contributions have made 2024 a more informed, dynamic, and engaging year.

We look forward to continuing this journey together in 2025.

Anndy Lian

Anndy Lian is a business strategist with experience advising companies and governments across Asia. A blockchain pioneer, serial entrepreneur, and investor, he currently serves as Chief Digital Advisor at Mongolia Productivity Organisation, leading national digitisation efforts. His book, NFT: From Zero to Hero, has sold over 8,000 copies.

“My proudest moment this year? Seeing Bitcoin hit US$100,000—a milestone that highlights crypto’s growing adoption and potential. In 2025, I’m excited about AI and crypto leading innovation, with their convergence unlocking endless possibilities. I love the interaction with the e27 community members. Many have connected with me on LinkedIn and X, fostering meaningful conversations and collaborations.”

Anton Lucanus

Anton Lucanus is a published scientist and the Founder of Neliti and Reputio. A former breast cancer researcher, he advocates for open access to scientific knowledge and invests in innovations focused on longevity, ageing, and biohacking.

Bernadetta Septarini

Bernadetta Septarini, a Content and Social Media Marketing professional at ArmourZero, entered the cybersecurity field without prior experience but quickly discovered a passion for simplifying its complexities. She is dedicated to sharing insights that make cybersecurity accessible and engaging for all.

“Being nominated as a top contributor last year was a proud milestone that fuelled my passion for writing. This year, I challenged myself to publish more consistently, and I’m thrilled to have achieved my goal of releasing articles almost every month. As we move into 2025, I’m excited about the rise of AI and its potential to transform not just cybersecurity but how we approach our entire careers. I hope to inspire others to see AI not as a threat but as a tool we can use positively and effectively.

To the e27 community, thank you for fostering an environment of growth and collaboration. I look forward to seeing how this platform continues to provide insights, expand networks, and help startups gain the recognition they deserve.”

Camellia Chan

Camellia Chan, Co-Founder and CEO of Flexxon, leads the company’s strategy, R&D, and global expansion. Since 2007, she has grown Flexxon into a global enterprise with a presence in over 50 cities.

“As we look to 2025, I’m excited to see a growing shift in how cybersecurity is approached, especially with the integration of advanced hardware-level protections. This is the year where hybrid defense models—combining dynamic hardware safeguards with pre-existing software capabilities—will gain momentum. This layered approach ensures no single point of failure, paving the way for enhanced resilience against increasingly sophisticated cyber threats.”

Christopher Quek

Christopher Quek is the Founder and Managing Partner of TRIVE, a Singapore-based firm specialising in venture capital, private equity, and business transformation for family businesses and offices across Southeast Asia. With over 13 years of experience, he has provided one-on-one advisory to more than 2,000 startups. He is also a CAIA and CFA charterholder.

“One of my proudest moments was achieving the CFA charter after three failures over six years. I liken that journey to entrepreneurship—keep trying until you succeed. In 2025, I anticipate a surge in Venture Capital and Private Equity deals across Southeast Asia as allocations shift toward alternative investments. To the e27 community: life will only get better in 2025. Stay hopeful for the big breakthroughs in VC and entrepreneurship.”

Also Read: 🇰🇷 Rebellions to Weavel: Unveiling South Korea’s most promising AI ventures

Dae Ro Won

Dae Ro Won is an experienced executive with over 20 years in Fund Management and Venture Building. Specialising in cross-border projects and startup expansion, he provides tailored solutions across Korea, Singapore, and Southeast Asia. He is the Director and CEO of Wilt Venture Builder.

“My proudest moment of 2024 is launching Zero100, a Venture Studio program bridging Korea and Singapore, where we train Korean entrepreneurs for three months before supporting their startup ventures in Singapore.”

Daniel Tan

During the COVID-19 pandemic, Daniel Tan observed that many SMEs were burdened with high finder’s fees and facing issues with loan brokers cherry-picking customers or profiteering. Seeking a more transparent and efficient solution for borrowers, he founded FindTheLoan.com, Singapore’s first loan marketplace, to revolutionise how SMEs access financing.

“In 2024, AI dominated the headlines, from healthcare to finance, personalised medicine to chatbots. But many other innovations such as those in fintech continue to change lives. Platforms like Kiva allow individuals to lend money to small businesses or individuals in need, providing an alternative to traditional bank loans and driving financial inclusion by giving rural populations access to capital.

In edutech, learning platforms have made education more accessible to people around the world. Farmtech, such as precision farming helped farmers in Africa and other parts of the world increase crop yields and improve their income. Telemedicine platforms made healthcare more accessible remotely saving lives. Excited to see what 2025 will bring and hope you are too!”

Darryl Dickens

Darryl Dickens, Founder of Out-Position, specialises in positioning and Category Design for tech startups, innovators, and growth-focused enterprises. His expertise helps businesses craft unique market positions that drive differentiation and sustainable growth.

“Healthcare is seeing radical change to its business and operating models as well as an acceleration in innovation and tech adoption. It’s being driven by these three factors and will continue to accelerate in 2025: post-pandemic reverberations and the necessity for change; aging demographics that are impacting and accelerating on healthcare systems; and AI maturity and adoption.

In particular, the home is increasingly seen as an overlooked component of infrastructure for ‘aging in place’ or ‘hospital at home’ models. New categories emerging such as Comprehensive Healthcare at Home, will enable seniors to age longer from their home, as well as progressively use their home for medical recovery from illness or surgery. This in turn frees up beds and eases pressure on the overall healthcare system, but also improves health outcomes. It’s a great time for innovation and redefining healthcare categories!”

Darryl Han

Darryl is currently the Co-Founder of LFG, a travel discovery engine, where he leverages on his extensive global experience to drive startup’s early stages. He is an operations and creative leader who’s spent the last seven years helping tech companies grow across Asia Pacific, from startups to major tech platforms. He’s done everything from leading 60-person teams to building products from scratch, particularly in Australia, Singapore, and Vietnam.

“Looking ahead to 2025, I’m genuinely excited about two major shifts happening right now. The way we search for and discover information is being transformed by AI assistants that actually understand what we’re trying to accomplish, with tools like Perplexity reshaping everything from information seeking to shopping. Meanwhile, the space industry is hitting remarkable milestones, with companies like AstroForge securing the first-ever deep-space mining license and Northwoods Space successfully testing satellite connectivity systems, showing how space tech is becoming part of our everyday reality.”

Davin Dedhia

Davin Dedhia is the Co-Founder and CMO of Auptimate, a platform empowering fund managers, family offices, and professional investors to swiftly launch their Special Purpose Vehicles (SPVs) and syndicates online. Auptimate ensures investors can concentrate on their primary focus of investing, handling the legal, compliance, and operational aspects of SPV creation and management.

Fanny Fajarianti

Fanny Fajarianti is a digital marketing specialist with over three years of experience in SEO, paid advertising, and content strategy. She is dedicated to helping brands achieve online growth through innovative and effective marketing solutions.

“In 2025, I’m excited about the continued evolution of AI and automation in digital marketing, especially in SEO and paid ads optimisation. These tools are empowering marketers to deliver hyper-personalised experiences at scale, and I’m eager to explore how they can make campaigns even more effective!”

Felicia Theodorus

Felicia Theodorus is a certified marketing professional, writer, and content creator with over a decade of experience. She authored Big Impact, Small Budget: Winning Marketing Strategies for Startups and runs Insight Arc Media, publishing platforms like The Javachip and Feliccine. Recognised as a top blogger and beauty influencer in Indonesia, she delivers fresh insights across business, lifestyle, and societal trends.

“Looking ahead, I’m thrilled about the advancements in technology, particularly in the fintech space across Southeast Asia. Despite the challenges and changes we saw in 2024, there’s a sense of resilience and innovation in the region. Fintech is transforming how businesses and individuals interact with financial services, fostering inclusion and growth. I’m also eager to see how AI innovation will continue to evolve, especially in enhancing productivity and enabling more creative, human-centric solutions. It’s an exciting time to be part of this dynamic ecosystem.

To the e27 community, thank you for being a space where ideas thrive, and connections are nurtured. The Contributor Programme has been invaluable in amplifying voices and fostering collaboration. Here’s to another year of building, sharing, and growing together—let’s make 2025 extraordinary!”

Georg Chmiel

Georg Chmiel is a seasoned business leader, company director, and senior advisor with 30 years of experience in scaling companies and navigating disruptive technologies. With expertise in capital markets and technology businesses, he has extensive global exposure across Asia, Australia, New Zealand, and Europe. He is the Co-Founder and Chair of Juwai-IQI Holdings, a leading proptech group in Southeast Asia, and the Co-Founder and Executive Chair of Chmiel Global Advisory, a boutique advisory firm.

“My proudest achievement this year has been witnessing a return to strong, profitable growth across all the businesses I am involved in. Looking ahead to 2025, I am excited about the continued advancements in AI, the stronger growth of social commerce, and, above all, the hope for an end to hostilities in current conflict zones.

To the e27 community, I want to say this: it’s an incredible platform for learning, sharing, and growing together.”

Also Read: Funding the green transition: Southeast Asia’s climate tech leaders of 2024

Ivy Nhi Chau

Ivy Nhi Chau is the CEO and Founder of Ivy+Partners, a communications firm focused on integrated campaigns for local and international brands. With nearly a decade of experience, she leads a team dedicated to creating impactful, culture-focused PR solutions. She is also a member of The Public Relations and Communications Association Southeast Asia (PRCA SEA) and a founding member of One Asia Communications.

“2024 was a transformative year for me, as I witnessed the powerful interaction between PR and technology. While PR amplified the voices of tech companies, technological advancements, especially AI, took PR to new heights. As we step into 2025, I’m excited to see how AI continues to shape the future of communication, pushing the boundaries of what’s possible in our industry.

I’d like to express my sincere appreciation to the e27 Contributor Programme for fostering such a vibrant community for knowledge sharing and networking within the tech industry. The platform has been instrumental in connecting me with fellow thought leaders and professionals, and I’m incredibly grateful for the opportunities it has provided. Here’s to a fantastic year ahead for the entire e27 community!”

Izwan Zakaria

Izwan Zakaria is a startup, venture, and tech lawyer at Izwan & Partners, a corporate law firm dedicated to supporting tech companies and startups in navigating legal complexities and raising capital both in Malaysia and internationally.

“2025 is likely shaping up to be a big year for Southeast Asia’s tech scene. We should anticipate greater cross-border partnerships as we see more AI and blockchain adoption, driven by clearer regulatory clarity on the horizon. As a startup lawyer, I’m excited to work with e27’s team more closely to empower more founders to build the future of tech in the region. If you’re a founder, 2025 is a great year for startups to shine!”

Jackie Tan

Jackie Tan is a 2x founder with 2x exits. He lectures in data science at Nanyang Technological University and entrepreneurship at Singapore University of Social Sciences. As Co-founder and CEO of BorderDollar, Jackie focuses on closing the trade finance gap for SMEs and leveraging AI for supply chain and procurement solutions. His work integrates data science, fintech, and algorithm design to drive efficiency in trade finance.

“My proudest moments this year include winning a couple of hackathons I participated in for fun—it’s a hobby of mine. I’m excited about the possible recovery in funding volume as more VCs start investing again.

How much you get out of a community is proportional to how much you put in—the e27 community is amazing and you will be in the company of the most motivated, hardworking, and clever individuals.”

Jenny Zheng

Jenny Zheng is a seasoned professional with over six years of experience in the blockchain industry. In 2017, she founded Blockcast.cc, a respected Singapore-based blockchain media outlet, establishing her as a key figure in the space. In 2022, Jenny joined Bybit, one of the leading cryptocurrency exchanges, where she serves as the Business Development Lead for their NFT marketplace/Web3 business, further advancing her expertise and contributions to the industry.

Karen Kim

Karen Kim is the CEO of Human Managed, an ASEAN cloud-native data platform empowering businesses to make smarter decisions for cyber, digital, and risk outcomes. She focuses on aligning purpose, strategy, and operations, applying design-thinking and a service-first approach to branding, service design, and business development.

“One of my proudest achievements was leading the development of an industry- collaborative whitepaper on the emerging technology of federated learning and privacy preservation. The whitepaper titled “Better Intelligence is Collective: Unlocking the Potential of AI with Federated Learning ” included contributions from experts from Microsoft, Snowflake and Paynet. Seeing the research insights resonate with stakeholders in our ecosystem has been extremely rewarding.

In 2025, I believe that Service Design will become critical in the age of AI products. While there is a plethora of AI-powered features, products and agents flooding the market, service interactions need to be better designed. Customers want AI powered interfaces, that are not only efficient and effective, but also thoughtful and human-like at times, collaborative and nuanced at others.

The Contributor Programme at e27 has amplified my voice as a tech leader, allowing me to share insights on emerging technologies and industry trends in Data and AI with a global audience. It has helped in creating awareness about the solutions offered by our company, Human Managed, for operationalising AI  in enterprises across the ASEAN region. The editors at e27 have always been open to ideas that have been proposed and I look forward to continuing this collaboration.”

Leighton Cosseboom

Leighton Cosseboom serves as Principal and Head of Marketing at AC Ventures. He co-founded C2 Media, the parent company of Content Collision, Indonesia’s top-of-mind PR firm for tech companies and VC firms, and ContentGrow, a managed freelance talent network and workflow app for global content teams.

Lisa Gibbons

Lisa Gibbons is a Web3 consultant and Founder of the Metaverse Tourism Association. She advocates for a hybrid future in tourism, ensuring equal access to opportunities, and is co-founder of the first Irish Pub in the Web3 Metaverse. With a Master’s in International Tourism, she is passionate about using virtual environments for sustainability.

“This year it was an honour to be chosen as one of the leading female voices in Web3. As a woman in a position of leadership I believe it is crucial for us all to pave the way for future female leaders to use their skills, showcase new opportunities and have an opinion when it comes to how advanced technologies are being used in society. 2025 will be the year when we see AI and immersive tech infiltrate some of our most important industries. This will bring unprecedented change when it comes to the way we value productivity and also bring more freedom to create, express and showcase our cultures in ways that would have been previously unimaginable.

Lydea Quek

Lydea Quek has nearly a decade of experience in cybersecurity, having honed her expertise with leading companies like Fortinet, Thales Security, and currently at Hackuity. Her career is driven by a passion for solving complex challenges and tailoring security solutions to meet the unique needs of clients. Outside of her professional life, she is deeply committed to promoting well-being and mental health.

“This year, I’m proud of the progress we’ve made in building meaningful relationships with customers and partners, driving impactful conversations around cybersecurity in APJ. In 2025, I hope to see businesses accelerate their growth by proactively tackling security challenges and turning them into opportunities for innovation. To the e27 community, thank you for fostering collaboration and driving innovation in this ever-evolving space!”

Maggie Po

Maggie Po is the CEO and Founder of FullSuite, a 10-year-old offshoring company specialising in building offshore teams for venture-backed technology startups in the US. The company serves as a Humans-in-the-loop partner for AI-powered startups in the private capital market industry.

“This year, I’m incredibly proud of contributing to conversations around purpose-driven entrepreneurship. Through my articles on e27, I’ve explored the intersection of passion and sustainable business practices, while also sharing insights on how startups can navigate challenges and scale effectively.

Heading into 2025, I’m excited about the growth of startups in both LegalTech and FinTech and how FullSuite can support these startups as they scale. The intersection of AI application and ethical, data-driven decisions and how founders leverage this responsibly is something that interest me.”

Malcolm Tan

Malcolm Tan is a serial entrepreneur and Founder of Gravitas International and Qrypt Technologies. He serves as Chief Strategist at Technicorum Holdings and Strategic Advisor for Kingswap DEX. He specialises in Cryptocurrency and Blockchain law, advising on over 80 projects, focusing on DeFi, fintech, and Regtech. He is the author of How to ICO/ITO in Singapore and DeFi — The Latest Financial Phenomenon.

Moch Akbar Azzihad M

Moch Akbar Azzihad M is an entrepreneur focused on leveraging technology to create impactful solutions. As Founder & CEO of Converco, he develops blockchain-based solutions for secure, fast, and low-cost transactions, revolutionising the traditional financial industry.

“One of my proudest moments this year was integrating AI into Web3 projects, which opened new doors for innovation and elevated user experiences. Looking ahead to 2025, I’m excited about the continued synergy between AI and blockchain to create smarter, decentralised systems. To the e27 community, thank you for fostering collaboration and amplifying voices that shape the future of technology!”

Paolo Danese

Paolo Denese has over a decade of experience pioneering digital initiatives and launching innovative platforms. As an AI Strategy Advisor, he bridges AI applications with business goals, driving impactful strategies in publishing, media, and the creator economy. His work includes leading the GlobalRMB media brand and launching the Storya AI publishing app, attracting thousands of users and authors globally. He focuses on creating scalable AI solutions and fostering cross-cultural collaboration.

Sam Lee

Since founding Paloe (formerly Excide) in 2015, Sam Lee has become a trusted advisor in preparing startups for Series A and Series B rounds. With extensive experience acting as interim CFO for various tech companies during their fundraising phases, he has helped more than 70 companies craft financial models and effectively communicate their stories through data. His expertise spans working with companies like PolicyPal, Haulio, X0PA, Detrack, Moovaz, Geniebook, USEN, Rainmaker Labs, and Gobbler.

“In Southeast Asia, the funding winter appears to be thawing, with an uptick in Series A announcements likely in the first half of 2025. However, investors are expected to adopt more stringent selection criteria, prioritising startups with clear traction, strong unit economics, and sustainable growth plans.”

Sarah Dongmi Choi

Sarah Dongmi Choi is an experienced startup ecosystem builder with eight years of expertise in fostering growth and innovation. She specialises in Korean startup acceleration, helping early-stage ventures scale globally and maximise investment opportunities. Currently serving as Senior Manager at Chungbuk CCEI, a leading public accelerator funded by the Ministry of SMEs, Sarah plays a key role in supporting startups in their journey to success.

“Being named one of e27’s Top 10 Female Contributors last year opened many doors. This year, as a LinkedIn influencer, I’ve been interviewed by major Korean media and honoured at the Global Women of Influence Awards 2024 in Singapore. I was also recently recognised as one of the Top 10 LinkedIn Voices by an Asian media outlet, gaining widespread recognition.

I’m passionate about helping startups build resilience and entrepreneurs develop strong leadership amidst uncertainty. In the coming year, I plan to share actionable insights and strategies for thriving in challenging times. Additionally, I’ll focus on personal branding to equip entrepreneurs and investors with practical tools for success.

Working in a government-affiliated organisation and a startup accelerator in South Korea, I’ve gained valuable insights and connections through e27’s content and network. I look forward to the community’s continued growth, supporting global expansion for companies and helping investors discover outstanding businesses.”

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 us on InstagramFacebookX, and LinkedIn to stay connected.

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Top 5 strategies on how startup founders can drive healthy, rapid growth in an uncertain economy

As startup founders, we’ve all felt the pressure lately. Economic uncertainty, shrinking VC funding, and investor demands for faster returns have hit quite hard. It’s not easy to scale, especially in Southeast Asia, where competition is fierce, and the funding environment has changed drastically. 

But here’s the thing: we don’t have to just survive this, we can thrive — if we approach growth differently. As opposed to years ago when scaling was everything, now investors start asking for quicker returns while we’re still trying to figure out how to make our product fit the market perfectly. 

But the good news is, there’s a way forward that doesn’t require burning through cash at breakneck speed.

Here are the top five areas from what I’ve learned and proven to work in every region where I’m operating — Asia, Europe, and Latin America.

Capital efficiency over growth at any cost

It’s tempting to chase after fast growth, especially when that was the golden rule just a couple of years ago. But in this economy, we’re being asked to do more with less. Investors aren’t just looking for growth anymore; they want to see how efficiently we can use the capital we have.

For us, this means rethinking where we allocate our resources. And it starts by asking the right questions: What’s giving us the best return? Are we automating where we can? Automation has been a lifesaver for many startups that survive the test of time, freeing up time and allowing them to scale without adding unnecessary overhead. 

It’s a tough pill to swallow sometimes, but being lean and efficient isn’t about limiting growth — it’s about growing sustainably. And in the long run, it makes all the difference.

Invest in the customers like they’re our lifeline (because they are)

Acquiring new customers takes time and money, two things that are in short supply when the market is tight. However, focusing on deepening relationships with existing customers and prioritising their experience can have a huge impact. 

One of Deloitte’s reports even stated that well-executed hyper-personalisation can deliver 8x the return on investment on marketing spend, and lift sales by 10 per cent or more. And this is where personalisation and understanding the real needs of our customers come into play.

In the eyes of the customers, startups need to become more than just a service or product provider. In an uncertain economy, they rely more heavily on us to ensure their business operations flow smoothly with a more limited capacity. 

Also Read: Exploring the creator economy in gaming

In the end, we have to step up our game, making sure our customers know we’re listening, care about their feedback, and eventually adapting to meet their needs. In times like these, those strong customer relationships can keep us afloat and even help drive word-of-mouth growth.

Make digital our best friend

Southeast Asia is unique in how quickly it’s embracing digital channels—whether it’s e-commerce, mobile apps, or social media. Investing in the digital strategy early on was one of the best decisions we made to survive any volatility in every region. 

But being online isn’t just about looking good on Instagram or Facebook anymore. It’s about finding what’s hidden and what customers secretly need from their behavioural patterns. Localising digital presence for each Southeast Asian market is also more crucial than ever. Some countries aren’t just dealing with economic slowdowns but also political instability. 

It’s a tricky space — one wrong move and we could be in the spotlight for all the wrong reasons. But get it right, and the impact can be game-changing like nothing we’ve seen before. So, every step we take to engage with our audience in a way that resonates locally, eventually brings us closer to sustainable growth. 

Be ready to pivot (anytime)

If there’s one thing we’ve all learned from these last few years, we must be nimble. The market shifts quickly, and what worked yesterday might not work tomorrow. As a founder, I’ve had to pivot multiple times — whether it was changing our marketing approach, tweaking our product, or shifting how we communicate with customers.

Now, this is where shifting to the agile mindset has been crucial. And no, this isn’t about throwing everything out and starting over. It’s about making small, iterative changes that keep us aligned with our customers’ evolving needs. While it’s sometimes nerve-wracking to take those risks, these pivots often lead to the biggest breakthroughs.

Trust is the main currency, especially with investors and advisors

One thing I’ve also learned is that building trust in the investors isn’t just about securing the next round of funding. Our investors want to see us succeed, but they also want transparency. Being open about our challenges, capital efficiency, and growth plans has helped us maintain strong relationships with them, even in tougher times.

Also Read: Managing talent in an economic downturn

We’ve also leaned heavily on our advisors—people who’ve been there and done that, and who understand the local and global startup scene. Whether it’s scaling up, entering new markets, or managing resources, getting insights from those who’ve been there before helps us avoid repeating the mistakes made in the past.

Coming out stronger

Despite the challenges, Southeast Asia remains a region with enormous potential, and certain sectors are still attracting VC interest. Startups in sectors like AI, automation, and digital health are well-positioned to secure funding, even as other sectors face a funding crunch.

If your startup operates in these high-growth sectors, now is the time to double down on your R&D and innovation efforts. Highlighting the technological edge and long-term growth potential can help you stand out to VCs who are looking for the next big thing in these spaces.

We’re all in this together, and I know how tough it can be to navigate these uncertain times. But by focusing on capital efficiency, strengthening customer relationships, staying agile, and building strong investor ties based on trust, we can set our startups on the path to healthy, sustainable growth for long-term success.

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 us on InstagramFacebookX, and LinkedIn to stay connected.

Image credit: Canva Pro

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How to streamline AI development with distributed tech and data architecture

In the ever-changing world of Artificial Intelligence (AI), we’ve seen a profound shift in the way teams collaborate and innovate. As these technologies rapidly advance, the ability to effectively work with remote teams has become an essential skill for AI professionals and organisations alike.

It’s no longer just about building incredible AI systems; it’s about doing it in a way that fosters connection, productivity, and seamless cooperation across distributed teams.

This article dives into three key strategies that can help AI experts navigate the challenges of remote teamwork. Drawing on industry insights and best practices, we’ll explore how to maximise productivity, drive innovation, and maintain strong connections, even when your team is miles apart.

Distributed tech and data architecture

Imagine you are part of an AI team, each member contributing their unique expertise. Whether it’s data collection, model development, or system integration, everyone plays a vital role. But how do these disparate pieces fit together?

Communication is key. Team chats, mandatory documentation on shared drives, and well-defined API interfaces and JSON documents are examples of items that keep everyone on the same page.

Think of it as building bridges between islands—bridges made of version control systems and collaboration tools on the cloud. Even when one teammate is sipping coffee in an office in Hong Kong while the second one is working from an outdoor cafe in Oxford, UK, our team is still working in sync over a conversation on great coffee.

Collaborative AI training

AI training is another area where remote teams can effectively collaborate. At our AI tech company, WealthRyse, our algorithms allow partial retraining in real time. Picture this: different teams working on various parts of the AI model simultaneously, without waiting for one another. It’s like a relay race where the baton keeps moving.

Also Read: Meet the finalists championing sustainable solutions at the Climate Impact Innovations Challenge 2024

Collaborative AI training gives us a significant advantage, allowing us to provide an outcome similar to the real-time retraining of our Genisys AI around the clock, automate many aspects of wealth management, and create the best possible rebalancing services so our professional investment manager users can scale their businesses.

Component-based strategy

Flexibility is key. We should never be tied to a single tool or technology. For example, we use AWS Comprehend for natural language processing today, but tomorrow? Who knows! The temporary unstructured data is saved in NOSQL databases, and then we can adapt whichever AI tech to turn the data into structured data for digestion by the AI engine.

The modular, component-based approach makes everything easier for our team members to experiment with emerging AI models and techniques, quickly test and deploy them, and remap the workflow using programmatic tools such as Apache Airflow, resulting in the most powerful AI models to provide the best rebalancing services to our clients.

As a result, Genisys is a powerful all-in-one package that is able to handle time-consuming tasks, enhance various efficiencies in operations, and hyper-personalisation. Besides using a set of parameters similar to those used by the largest asset managers, Genisys also allows users to adjust any of its weight and parameters, which provides the users with the ability to maintain the distinctive branding of your services.

This is a significant advancement over the primarily sentiment-driven generative AI models in fintech today and our track record of improved outcomes by two to three times as compared to traditional portfolio managers.

Final thoughts

In conclusion, the future of AI is not just about building remarkable systems but doing so in a way that fosters collaboration and innovation among remote teams.

By leveraging distributed tech and data architecture, embracing collaborative AI training, and adopting a component-based strategy, AI professionals can overcome the challenges of remote work and drive success in this rapidly evolving field.

With these strategies, AI teams can create powerful solutions that enhance efficiencies and hyper-personalisation and drive improved outcomes for their clients.

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: Tyme Group becomes a 🦄 | PropertyGuru acquisition completed | Eureka Robotics gets US$10.5M

The Southeast Asian (SEA) startup ecosystem is off to the end of 2024 on a high note, with significant funding and acquisition activities shaping the landscape.

Singapore-based Tyme Group has become the region’s first unicorn of the year, raising US$250 million at a valuation of US$1.5 billion, according to DealStreetAsia. This milestone underscores the continued investor confidence in the region’s digital banking and fintech potential.

In the proptech space, EQT has completed its acquisition of PropertyGuru, signalling its ambition to strengthen its foothold in Southeast Asia’s real estate technology sector. EQT plans to leverage its resources to accelerate innovation, expand PropertyGuru’s market reach, and enhance operational efficiency.

Meanwhile, Eureka Robotics, a leader in factory automation solutions, has secured US$10.5 million in fresh funding to advance its AI-powered robotics technologies. Eureka’s solutions—widely applied in precision handling, AI-based inspection, and assembly—highlight the growing importance of automation in manufacturing.

After a period of difficulties, these milestones help us feel more hopeful about the upcoming year. We can look forward to a much brighter future in 2025.

Anisa,
Editor

—–

NEWS & VIEWS

Singapore’s Tyme Group raises US$250M, becomes first SEA unicorn in 2024
The company raises fresh funding at the valuation of US$1.5 million, DealStreetAsia writes

EQT completes PropertyGuru acquisition, seeks to strengthen its position in SEA proptech sector
EQT aims to provide PropertyGuru with resources to accelerate tech development, expand market reach, and improve efficiency

Eureka Robotics raises US$10.5M to power the future of factory automation
Eureka Robotics’ solutions are commonly used in AI-based inspection, precision handling, 3D picking, assembly, and dispensing

Funding the green transition: Southeast Asia’s climate tech leaders of 2024
In this feature, we spotlight the region’s notable climate tech startups that raised substantial funding rounds in 2024

VCs eye exits in 2025 as funding winter begins to thaw
This year has not been a good one for players in the venture capital (VC) space, Tech In Asia writes

FEATURES & INTERVIEWS

Empowering innovation: The role of government in scaling ASEAN’s GenAI ecosystem
GenAI’s future in ASEAN is bright, driven by government initiatives shaping its path toward greater innovation and economic growth

How Circular Unite tackles the unique challenges of promoting green tech solutions in SEA
Circular Unite is working in the area of waste management and recycling which remains “very” traditional. How do they deal with this?

What AWS has in store for SEA startups to support their innovation
At the recent AWS re:Invent 2024 conference, AWS announced its allocation of US$1 billion in Activate Credits for global startups in 2025

Temu’s Vietnam pivot could trigger direct showdown with Shopee
Cross border shopping platform Temu is feeling the heat in Vietnam, Tech In Asia writes

Indonesia’s warung-techs make strategic shifts to navigate tough times
While some have pivoted, others have switched on to asset-light model, DealStreetAsia writes

FROM THE ARCHIVES

Securing the future: Transforming industries through blockchain’s immutable ledgers
Advancing blockchain into mainstream acceptance necessitates innovative business models that empower creators through automated commissions

From gigabytes to zettabytes: How to develop a data-driven mindset
There’s so much data going around, that it’s become invisible, ubiquitous and all-encompassing in our lives

How to streamline AI development with distributed tech and data architecture
The future of AI is not just about building remarkable systems but doing so in a way that fosters collaboration and innovation among remote teams

How companies can successfully drive digital transformation through consolidations
The amount of planning and alignment that goes into a company’s internal processes will “make or break” its digital transformation

AI and ethics in digital marketing: Building trust in the tech era
AI presents a world of opportunities in digital marketing, but it also demands a new level of ethical responsibility

Fertile ground for partnership: How agritech boom in SEA holds a promise for Latin America
While the two regions may be separated by geography, culture, and language, they both share the realities of emerging economies and developing agricultural spaces

What Asia’s smallholder farmers really need and why startups should lead this uncontested race
If a tech company could tap into the smallholder farmers market, they would help lift a lot of people out of poverty

Genetics AI in Asia: Pioneering the future of technology
One of the most significant areas of innovation is genetics AI—a fusion of artificial intelligence and genetics research

The future of medtech in Singapore: Innovation amid regulatory challenges
The future of medtech in Singapore is bright, but only if we continue to innovate and adapt to the regulatory landscape

Healthtech data: The race for new oil in Southeast Asia
How similar are oil and data in the emerging healthtech sector in Southeast Asia, where valuations are rising but exits remain unproven?

How Malaysia is championing regenerative medicine technology
The risk of rejections occurring post-surgery can be significantly reduced by replacing artificial implants with tissue regeneration technology

THOUGHT LEADERSHIP

Are you selling a product or a solution?
Shifting to value creation and solution selling changes the focus, making you 100 per cent dedicated to meeting your customers’ needs

Startups and economic cycles: Navigating growth and recession
Gain insights into economic cycles and their impact on startups to enhance your understanding and improve your fundraising efforts

Why continuous learning is key to employee retention in the modern workforce
To retain Gen Z employees, it’s crucial to understand their workplace values and why continuous learning is important to them

How Web3’s open-source technology will create a more equitable world
Open-source code and protocols shape the internet’s future, enabling global participation and driving the evolution of technology

Image Credit: 123RF

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Building moats: Strategies for ASEAN GenAI startups to create sustainable value

In the fiercely competitive landscape of generative AI (GenAI), ASEAN startups are discovering the crucial importance of building moats—defensible advantages that protect against competition and market changes. The ASEAN GenAI Startup Report 2024 offers insights into how startups in the region are navigating challenges by developing unique value propositions, fine-tuning their models, and focusing on niche applications. This strategic focus not only helps startups stand out but also establishes a sustainable foundation for growth.

Differentiation through specialisation

One of the most effective strategies for ASEAN GenAI startups is to specialise in niche applications. By targeting specific industry needs or complex problems that larger players may overlook, startups can develop deep expertise and customised solutions that are highly valued by their customers.

For example, companies like Mesolitica in Malaysia focus on creating fine-tuned language models that cater to the local linguistic diversity of Southeast Asia. This specialization in regional languages provides a competitive edge over global players that might not address local nuances as effectively.

Similarly, startups like Botnoi Group in Thailand leverage their local market knowledge to develop AI solutions tailored to the specific cultural and business contexts of ASEAN countries. This focus on local customisation helps them create more relevant and effective products for their target markets.

Leveraging data and AI capabilities

To build a moat, ASEAN GenAI startups are increasingly leveraging unique datasets to train their AI models. Access to exclusive or hard-to-replicate data sets allows these companies to offer superior predictions, analytics, and user experiences.

Also Read: Big Tech and ASEAN startups: Navigating the friend-foe dynamic in the GenAI era

For instance, Singapore’s Shieldbase uses proprietary datasets to enhance its AI-driven enterprise search and data privacy solutions. This not only improves the functionality of their offerings but also makes it difficult for competitors to replicate their success without access to similar quality data.

Creating high barriers to entry

Startups can create high barriers to entry by integrating their technologies deeply within customer workflows or by developing intellectual property that is legally protected. This approach not only discourages competitors but also increases the switching costs for customers, fostering long-term loyalty.

KeyReply, a Singapore-based startup, integrates its AI-powered virtual assistants so deeply within healthcare providers’ systems that replacing them would involve significant cost and disruption, thereby securing KeyReply’s position in the market.

Partnerships and ecosystem integration

Building strategic partnerships with other technology providers and integrating deeply with the broader ecosystem can also strengthen a startup’s moat. By collaborating with established players, startups can gain not only credibility and trust but also access to a wider customer base.

Startups like Pixel ML in Vietnam enhance their market positions by partnering with major cloud service providers like AWS to offer integrated solutions directly to enterprise clients through the AWS Marketplace. These partnerships make it easier for startups to reach a global audience while also benefiting from the scale and reliability of a larger platform.

Continuous innovation and adaptation

In the fast-evolving field of AI, continuous innovation is crucial. ASEAN GenAI startups must constantly evolve their offerings to stay ahead of technological advancements and changing market needs.

The commitment to ongoing R&D allows startups like ArcanicAI in Vietnam to continually improve their products and adapt to new market opportunities. By consistently introducing innovative features and capabilities, these startups not only reinforce their market positions but also keep competitors at bay.

For ASEAN GenAI startups, building a moat is essential for surviving and thriving in a competitive market. By focusing on niche applications, leveraging unique datasets, creating high barriers to entry, forming strategic partnerships, and committing to continuous innovation, these startups can secure a sustainable competitive advantage.

As the GenAI landscape continues to mature, those startups that have effectively built and maintained strong moats will be well-positioned to lead the market, drive innovation, and deliver significant value to their customers and investors alike. In a world driven by rapid technological change, the ability to sustainably differentiate oneself in the market is not just a strategy—it’s a necessity.

This article is the seventh in a series from the ASEAN GenAI Startup Report 2024. GenAI Fund invests in early-stage GenAI startups across Southeast Asia, focusing on growth strategies and exit opportunities. Stay updated with new articles in this series by subscribing and following us on our channels. For more articles, visit: https://e27.co/category/reports/.

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Tyme Group secures unicorn status with US$250M Series D funding

Tyme Group Co-Founder & Executive Chairman Coenraad Jonker

Singapore-based fintech company Tyme Group raised US$250 million in an oversubscribed Series D funding round led by Brazilian neobank which injected US$150 million, according to various media reports. M&G’s impact strategy Catalyst, with existing investors Tencent, Apis Partners, BII, and Blue Earth, also participated in the funding round.

With this funding round, Tyme Group became the first company to secure a unicorn status this year with a US$1.5 billion valuation.

It plans to use the funding to scale operations, diversify product range, and expand customer base while pursuing growth plans in Vietnam and Indonesia.

Also Read: How Zed aims to set itself apart in the Philippines with its credit-led neobank

Launched in 2022, Tyme Group operates GoTyme Bank in the Philippines which offers a range of banking services. In South Africa, the group’s banking app TymeBank provides cash advances to low-income and rural communities in return for future sales to support small enterprises.

In a previous interview with e27 in 2023, Tyme Group Co-Founder & Executive Chairman Coenraad Jonker said that its flagship operation in South Africa, TymeBank, has joined the five per cent of neobanks globally to be profitable—which it managed to achieve in just four years.

“After successfully launching in South Africa, we looked for structurally similar markets with a larger addressable market and lower cost efficiency, which were ripe for disruption,” he said.

Image Credit: Tyme Group

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A modern approach to earning: How staking and restaking are reshaping investment opportunities

In traditional finance, investors have long relied on methods that require locking up capital to generate reliable income. Certificates of deposit (CDs) and certain mutual funds, for example, offer predictable returns but require funds to be held for a set period, often with penalties for early withdrawal. These systems provide stable income opportunities through committed capital and support financial stability.

Building on principles from traditional finance, the Web3 industry introduced crypto staking as a profitable approach. Users earn rewards by holding and locking up cryptocurrency tokens to support a blockchain network, similar to how traditional investors gain returns through committed capital on financial products.

Why staking works

Previously, staking was limited to niche assets. Ethereum (ETH), one of the largest and most well-known blockchain networks, has significantly expanded its reach. Ethereum’s shift from the energy-intensive proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS) has popularised staking, with Ethereum validators increasing over 30 per cent in the past year, surpassing the one million mark for the first time by mid-2024.

“The rise of liquid staking and more recently restaking has enticed institutions interested in both immediate liquidity and enhanced capital efficiency from restaking,” says Carlos Mercado, data scientist at Flipside Crypto.

Staking is more than a passive income method; it functions similarly to holding shares in a company in terms of decision making, albeit in a more decentralised manner. The more tokens a user stakes, the greater their influence in network governance. This model aligns interests, rewarding those committed to the ecosystem with transparent, automated governance and returns through newly minted tokens or transaction fees.

Challenges in staking

Despite its advantages, staking also comes with some drawbacks. For one, the minimum staking requirement to become a validator is 32 ETH (about US$96,000), which can be a high barrier for individual investors. A further challenge lies in centralisation risks, as validators with large staked holdings can dominate the network, reducing the decentralised aspect of the PoS mechanism.

Also Read: Liquid staking:  Bridging the gap with traditional finance

In addition, some assets impose lock-up periods that can limit liquidity. For example, unstaking Polkadot (DOT) requires a 28-day waiting period, while Cosmos (ATOM) involves a 21-day lock-up before assets become accessible. These restrictions can limit investors’ flexibility, as they must wait through the designated periods before accessing their staked assets.

The rise of restaking

Fintech innovations have addressed many of these challenges. Staking pools allow users to combine their assets, effectively lowering the barrier to entry for validators. Platforms are also building shared governance mechanisms to counteract the potential centralisation effect of big stakes.

Restaking builds on staking by letting users leverage staked assets across multiple platforms, boosting their earning potential. Unlike traditional staking, which locks tokens to one network, restaking allows Ethereum validators to secure additional services and earn extra rewards.

Staking and restaking are emerging as niche opportunities in fintech, similar to the evolution of certificates of deposit (CDs) in the past. However, instead of leveraging traditional financial systems, these products rely on decentralised platforms, where yield accumulation and disbursement are managed transparently and efficiently through blockchain technology.

Simplifying staking and restaking with established platforms

Several platforms are advancing staking and restaking with features that optimise rewards and user experience. Here are three leading platforms—Lido, EigenLayer, and StakeEase—that offer diverse solutions for crypto holders seeking flexible and efficient staking options.

Lido

As the largest liquid staking platform, Lido supports assets like ETH, SOL, and DOT. It utilises the Lido DAO to manage governance and employs a set of professional validators to secure the network. It uses liquid staking tokens like stETH for Ethereum, which can be traded or used across different applications, maintaining liquidity while earning staking rewards.

Lido’s growth is reflected in its Total Value Locked (TVL), which has surged from USD 1.48 million in December 2020 to USD 32.17 billion in November 2024.

EigenLayer

EigenLayer, a restaking platform, enables users to leverage their staked ETH to secure multiple protocols beyond Ethereum. By participating in EigenLayer, stakers can extend Ethereum’s security to new services and earn additional rewards.

As of February 2024, EigenLayer has raised a total of USD 171 million over three funding rounds from 27 investors, including notable firms such as Andreessen Horowitz (a16z), Coinbase, and Blockchain Capital.

Also Read: Cross-chain interoperability: The key to unlocking crypto’s true potential

StakeEase

StakeEase simplifies the complex process of staking and restaking across multiple networks and platforms, offering users an intuitive, unified interface that goes beyond Ethereum. Built on Router’s Cross-Chain Intent Framework (CCIF), the platform allows users to deposit any token, including ETH, USDT, or USDC, and receive their desired Restaked Token (RST). Users aren’t restricted to a single chain and can choose from various restaking platforms such as Kelp, Ether.Fi, and Renzo Protocol, or let the platform select the optimal options based on its path discovery algorithm.

StakeEase simplifies the complex process of staking and restaking across multiple networks and platforms, offering users an intuitive, unified interface that goes beyond Ethereum. Built on Router’s Cross-Chain Intent Framework (CCIF), the platform allows users to deposit any token, including ETH, USDT, or USDC, and receive their desired Liquid Restaked Token (LRT). Users aren’t restricted to a single chain; they can choose from various restaking platforms such as Kelp, Ether.Fi, and Renzo Protocol, or restake into an index that includes all of them along with sxETH.

StakeEase brings staking and restaking services together in one platform, making it simple and easy for users. It combines rewards from projects like Etherfi, Swell, and Taiko, so users can earn multiple rewards without hassle. The platform also helps maximise yield while keeping things secure with an insurance pool and a system to manage risks if any Liquid Restaked Token (LRT) becomes unstable.

Looking ahead: The path for staking and restaking

Web3 staking and restaking are creating passive income opportunities, promoting decentralisation and network security. Supported by fintech, these innovations are steadily becoming more accessible, driving the industry toward broader adoption.

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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How e27 and Josys are driving SME digital transformation in Southeast Asia

Josys representatives at their booth in Echelon Singapore

Echelon Singapore, organized annually by e27, is Southeast Asia’s leading conference for tech and startups. The event brings together startups, investors, and businesses, creating a vibrant platform for collaboration, innovation, and growth. With its engaging keynotes, thought-provoking panels, and an energetic exhibition space, Echelon fosters connections, showcases transformative technologies, and drives partnerships that propel the APAC ecosystem forward.

As we prepare for Echelon 2025, we are looking back at some of our partners who have made this event a resounding success. One of our partners is Josys. Josys is a trailblazer in IT management solutions, offering businesses an all-in-one platform to streamline their operations, enhance productivity, and reduce SaaS management complexity. Josys provides a unified SaaS management platform that centralizes IT processes, automates workflows, and enforces compliance policies. It enables companies to focus on innovation rather than administrative hurdles. Their commitment to simplifying IT for growing organizations aligns perfectly with Echelon’s mission of empowering the startup ecosystem.

Cutting edge SaaS management solutions at Echelon X

At Echelon X in Singapore, Josys made a notable impact by presenting its cutting-edge device and SaaS management solution. The team introduced visitors to its SaaS Management platform. The platform automates traditionally manual IT operations, optimizes operational costs, and enhances SaaS security. This presence allowed Josys to connect with tech leaders, startups, and potential clients. As a result, it highlighted its role in supporting businesses through scalable IT solutions.

Josys’ active role at Echelon X extends beyond its own growth. Its focus on SME digital transformation aligns closely with e27’s mission to support and connect startups in the region. By sharing its expertise, Josys not only showcased its platform but also contributed to the broader ecosystem by encouraging technology adoption and collaboration among SMEs and startups.

Also read: e27 and Prudence Foundation champion disaster tech innovation through strategic partnerships

Panel spotlight: Tech adoption of SMEs in SEA

Iskandar Ahmat of Josys at Echelon Singapore

Josys’ APAC Regional Director, Iskandar Ahmat, shared insights on how Josys is helping SMEs streamline IT management

One of the highlights of Josys’ participation was the panel session titled “Tech Adoption of SMEs in SEA – and the Way Forward,” featuring Josys’ APAC Regional Director, Iskandar Ahmat. The session explored strategies to overcome barriers faced by small and medium-sized enterprises (SMEs) in adopting new technologies. Ahmat shared insights on how Josys is helping SMEs streamline IT management, addressing challenges like cost, complexity, and security. By participating alongside other thought leaders such as Esevel, Zoho, and Eazy Digital, Josys reinforced its commitment to fostering technological innovation for SMEs in Southeast Asia.

Through its presence at Echelon X, Josys positioned itself as a thought leader in IT management and SaaS innovation. The discussions led by its team emphasized the need for accessible, cost-effective solutions. These solutions are tailored to the unique challenges of Southeast Asia’s business environment. This aligns with e27’s goals of empowering startups with the tools and knowledge needed to thrive in a competitive market.

Also read: e27 and Gateway of Asia transforming Asia’s startup landscape from Singapore to Manila

e27’s commitment to partners and the community

Josys’ participation provided valuable networking opportunities, strengthening its relationships with investors, partners, and fellow innovators. By engaging with the E27 community, Josys showcased its commitment to driving sustainable growth and contributing to the development of Asia’s tech landscape. This multifaceted involvement at Echelon X reflects Josys’ strategic vision of empowering businesses to embrace digital transformation while fostering a collaborative ecosystem in Southeast Asia.

By partnering with e27, Josys has been able to connect with the tech leaders, innovators, and decision-makers who attend Echelon, showcasing how their solutions can address the unique challenges faced by startups and enterprises. Together, Josys and e27 have created opportunities for businesses to adopt smarter IT strategies, driving growth and efficiency in Southeast Asia’s fast-evolving tech landscape.

This article is produced by e27

We can share your story at e27 too! Engage the Southeast Asian tech ecosystem by bringing your story to the world. Reach out to us here to get started.

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EQT completes PropertyGuru acquisition, seeks to strengthen its position in SEA proptech sector

On Friday, EQT Private Capital Asia and PropertyGuru Group Limited announced the completion of the acquisition of the property tech (proptech) company by BPEA Private Equity Fund VIII for US$6.70 per share in cash in a transaction that values PropertyGuru at an equity value of approximately US$1.1 billion.

In connection with the closing, PropertyGuru’s common shares ceased trading before the market open on December 13 and the company has been delisted from the New York Stock Exchange.

Following this move, PropertyGuru will operate as a privately held company. According to a statement, following the merger through January 12, 2025, each unexercised and outstanding warrant will be, upon valid exercise, exchangeable for US$0.7526 per warrant.

Hari V. Krishnan, Chief Executive Officer, PropertyGuru Group, said, “We are pleased to announce the successful completion of this transaction and we welcome EQT to PropertyGuru. Over the past seventeen years, our growth has been enabled by strong partnerships with our shareholders, led by TPG and KKR. On behalf of everyone at PropertyGuru, I want to thank them for their support and I am proud that we have delivered a solid financial exit for our long-term investors.”

Also Read: EQT Private Capital Asia to acquire PropertyGuru for US$1.1B

“On behalf of our group leadership team, I thank our Gurus for their hard work and the wonderful business we have built together, and our customers and partners for their continued trust and partnership. EQT shares our commitment to our continued sustainable growth, and we look forward to working with them towards our Group’s vision to power, communities to live, work and thrive in tomorrow’s cities.”

Founded in 2007 and headquartered in Singapore, PropertyGuru is one of the notable proptech platforms in Southeast Asia (SEA). The company said that it connects over 31 million property seekers with more than 50,000 agents across Singapore, Malaysia, Thailand and Vietnam each month.

Its services included extensive real estate listings, data-driven insights, and mortgage solutions such as PropertyGuru Finance and enterprise client solutions under PropertyGuru for Business.

According to a statement, EQT’s investment in PropertyGuru aims to support the company’s ongoing progress by providing resources and expertise to accelerate technology development, expand market reach, and improve operational efficiency.

“Leveraging its experience with leaders in the digital marketplace and real estate classifieds sectors –-including companies such as Idealista and Casa.it-– EQT seeks to advance PropertyGuru’s strategic initiatives, strengthen its position in SEA’s proptech sector, and drive growth in dynamic markets influenced by urbanisation, middle-class expansion, and digitalisation.”

The news about this acquisition was first announced in August this year.

Image Credit: PropertyGuru

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