Singapore-based fintech startup Earlybird AI, which aims to make bookkeeping and financial admin tasks of small and medium-sized enterprises (SMEs) painless and stress-free, has emerged from stealth with a pre-seed funding round led by Antler.

Several unnamed strategic angels also participated.

Also Read: A new insights attitude for SMEs in the era of the ‘insights engine’

“The capital will help us accelerate our go-to-market and minimum viable product release development and hire top quality design, engineering, and AI talent,” Bhavana Ravindran told e27.

Founded by Ravindran, a serial founder and former digital executive at VISA, Earlybird AI has developed a mobile app to make business finances and accounting painless and intuitive while giving real-time visibility into the business. The company claims the app also doubles as a CFO, transforming boring, low-value admin tasks into high-value insights, reports, and recommendations.

Earlybird’s vision is to empower SMEs to spend less time on finance admin and more time on their customers.

“Founders build the future of our society, but they are currently overwhelmed by admin-heavy, poorly designed bookkeeping tools and low-value operational tasks,” she added. “By taking on the multi-billion dollar SME accounting and finance admin industry, we can enable innovation and growth by enabling the founders to focus on what they do best – growing their business.”

Also Read: Small steps, big impact: How SMEs can champion ESG initiatives

The fintech startup claims it currently grows beta test users by 30 per cent week over week.

Earlybird AI won the Asia Startup Network Angels Arena pitch event earlier this month.

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International Built Environment Week (IBEW) 2024, held at Marina Bay Sands, Singapore, represents the most comprehensive arena in Asia for showcasing groundbreaking construction technology (ConTech) innovations across all stages of the building lifecycle.

As the largest innovation and technology (I&T) ecosystem in Hong Kong, Hong Kong Science and Technology Parks Corporation (HKSTP) has long been dedicated to nurturing I&T startups between Hong Kong and Southeast Asia (SEA). The organisation is instrumental in helping these startups explore and expand into new global markets, with Hong Kong serving as their launchpad.

This year, HKSTP took significant steps by leading 14 innovative partner companies to IBEW 2024 by showcasing their pioneering ConTech solutions at the HKSTP Pavilion at the Build Environment Expo (BEX Asia) of IBEW. Nearly 2,000 potential buyers and investors visited the Pavilion, which features market-ready and emerging ConTech advancements. These include construction robotics, AI-powered safety systems, smart building solutions and sustainable technologies.

Through initiatives like these, HKSTP continues to position itself as a critical player in Hong Kong startups’ international expansion journey. Desmond Lee, Minister for National Development of Singapore, visited the HKSTP Pavilion to learn more about the ConTech innovations developed in Hong Kong. His engagement highlights the potential for collaboration in the construction technology sector and underscores the importance of fostering international partnerships to drive advancements in the construction industry. Leading organisations in property management, construction and engineering, and banking also visited the HKSTP Pavilion to learn more about the latest ConTech from Hong Kong.

Also Read: Hong Kong I&T startups gear up in Thailand for global growth

Hong Kong’s Digital Twin startup at the forefront of ConTech innovation

Hong Kong has increasingly become a hub for cutting-edge technologies, particularly in the ConTech sector. Startups in this space are developing groundbreaking solutions that address some of the most pressing challenges in the built environment, including energy management, automation, and sustainability.

One such company, Neuron Digital Group, a groundbreaking joint venture between Arup and Venturous Group, is transforming the built environment through innovative smart building technology. Initially incubated by Arup, Neuron combines AI, Digital Twin technology, and big data to optimise building operations, enhance energy efficiency, and improve tenant wellness. Headquartered in Hong Kong, Neuron is rapidly expanding, driving the shift toward sustainable, digitally integrated smart cities across the globe. This platform is critical to achieving net-zero goals and setting new standards in smart city infrastructure.

Neuron offers modular solutions that can start small and expand based on the client’s needs. Serena Pau mentions that this approach appeals to building owners, “We don’t force the buyer to buy a huge platform because we understand very often building owners want to start small.”

Currently, Neuron’s technology is primarily deployed in Hong Kong, where it has been implemented in over 200 buildings in just two years of operations. Neuron has some projects in Thailand, but Pau mentioned that “[Neuron] is ready to go to Singapore as a stepping stone and then hopefully [the rest of] SEA.”

HK’s robotics ConTech solutions capture the spotlight

Similarly, the Hong Kong Center for Construction Robotics (HKCRC) from InnoHK showcases its award-winning rebar-tying robot. Equipped with autonomous identification and positioning, automatic obstacle avoidance, and automatic column change, the robot can fully automatically complete the tying work across large areas at the centre of the steel mesh.

Also Read: PriyoShop launches Bangladesh’s first MSME credit card with LankaBangla and Mastercard

Dr Liang Haobo highlights HKCRC’s commitment to providing advanced technological solutions: “We use different kinds of robotics to help construction workers achieve safer, faster, and more efficient construction.” While currently focused on construction, HKCRC aims to expand its robotic technology to related industries “[such as] logistics and health.”

HKSTP’s foray into the SEA market is helping HKCRC’s efforts for commercialisation, as they “see more opportunities to explore in the overseas market before the year ends.” The latter actively seeks collaborations in the Asia Pacific region, particularly SEA, where Dr Liang claims to “showcase a strong demand for high-quality construction and technology solutions.”

These examples highlight Hong Kong startups’ relevance and potential to address global challenges in the construction industry, which has been made possible through HKSTP’s efforts to engage potential partners and customers in SEA.

HKSTP as an effective launchpad for global expansion

HKSTP’s participation in IBEW 2024 underscores its commitment to bringing Hong Kong startups to the global stage. The organisation plays a crucial role in facilitating the international expansion of these startups by leveraging its extensive network of corporate partners, investors, and industry stakeholders. This year’s event served as a strategic stepping stone for startups to explore and enter the SEA market, particularly Singapore, which is emerging as a critical hub for innovation in the built environment.

During the event, Filla Mak, Chief Operations Officer of HKSTP, articulated this mission: “We are delighted to showcase solutions from our partner companies on such a prestigious global stage. The tradeshow perfectly aligns with our mission to propel the commercialisation of groundbreaking technologies that anticipate the future needs of urban environments. By participating in IBEW, we [highlight] Hong Kong’s robust R&D capabilities and [foster] significant partnerships that extend our reach into SEA and beyond.”

Also Read: KINTO boosts brand engagement and ROI with Omnichat

HKSTP’s strategy goes beyond showcasing technologies; it involves actively facilitating partnerships and collaborations that can drive the adoption of these technologies in new markets.

Neuron’s Pau commends their experience with “HKSTP [being] instrumental in helping Neuron expand internationally by connecting us with overseas markets, providing PR exposure, and offering funding. HKSTP acts like a “virtual parent” for startups.

SEA: A promising destination for HK startups

SEA is rapidly emerging as a promising destination for tech startups from Hong Kong, particularly those in the ConTech sector. With its stable business environment and strategic location, Singapore serves as an ideal entry point for these startups to explore the broader SEA market.

The success of these efforts is evident in the recognition of two other startups, Ailytics and FJDynamics, who participated at the ConTech Summit through a solution showcase and engaging elevator pitches.

Ailytics garnered the highest number of votes from the judges and was honoured with the Most Popular Startup Award. At the same time, FJDynamics received the Most Creative Startup Award for their outstanding presentation.

This recognition further highlights the effectiveness of HKSTP’s initiatives and underscores the growing synergy between Hong Kong and SEA in the ConTech field.

—

This article is produced by the e27 team, sponsored by Hong Kong Science and Technology Parks Corporation (HKSTP).

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

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It is a perilous journey for an entrepreneur, especially for the inexperienced. There are no straightforward ways of building a business, as dynamics change very often in a complex business environment.

I know this, as I too was a young inexperienced startup founder 19 years ago, during the early dot-com era. Whatever I tried applying what I learnt in business school always fall short of success. I failed to understand the nuances of running a business.

Unfortunately, schools only teach the science of business, but fail to talk about the art of business, from culture, negotiations, hiring or real-life understanding of how businesses actually work.

The need for startup mentors to boost your entrepreneurial journey

It is without a doubt that any entrepreneur should and must find mentors in their journey. This is to help fill up the necessary gaps, offer a different perspective and provide impartation of business lessons so that you will not be doomed to repeat history.

I was blessed to have five mentors in my startup life. They imparted to me intangible skills, knowledge and values that now remain part of me as I run my businesses and venture fund.

But while saying this, I had the unfortunate experiences of having others who claimed to be ‘mentors’ but ended up taking advantage of my relationship with them. I also found similar experiences faced by entrepreneurs where that their startup mentors were falling short in a few aspects.

Also Read: Fantastic tech co-founders and where to find them

From the feedback I have collected and from personal experiences, here are some ground rules of what you should expect to have in a startup mentor, and reconsider the relationship if he falls short.

They guide, not dictate, how you run your company

A mentor has no executive power or any involvement in your startup. It is a third-party who uses his experience and knowledge to provide suggestions and direction to the entrepreneur.

I recalled having a mentor who was a driven man but forgot that he doesn’t own my company. In his sessions, I found him dictating and telling me what actions I must do, otherwise, he would not continue mentoring me. I ditched him. Down the road, I found out he was manoeuvring me with the intent to get me to offer him shares and claiming he did the work to build my company.

Only you, the entrepreneur, should make your own final decisions, in particular to the early stages of startup development. The moment you find your mentor coercing or making decisions for you, it is time to rethink the relationship.

They are not paid, so reject those who want compensation

TRIVE runs the NEXT50.sg initiative, which has over 70 startup mentors offering free mentorship to Singapore entrepreneurs. Bottom line: they don’t get paid.

This is the utmost principle of being a mentor, is that he wants to give back to society by helping others freely.

This only changes if the job role has changed to a commercial nature, for example, you are engaging your mentor to do some consultancy work. If it changes to that, ensure you have a contractual agreement. It is also a reconsider to find others to be your mentor.

So, do not offer sweat equity or payment for the mentorship. The dynamics changes. No matter how grateful you are, never bring up the topic of remuneration. Rather, pay-it-forward and help others, because that what your mentor was doing.

They are more than just a friend; they focus on you objectively

A startup mentor is not just a person whom you banter and gossip with, but a person whom you account to on your startup progress. A mentor is objective-driven, to see ways which you can grow your business.

Also Read: How to identify if you’re ready for a rebrand

As a mentor myself, I usually set objectives for the session and end off with a summary of follow-up actions that the entrepreneur needs to work on. Only in this way can you see the value in mentorship.

They listen and stop their humblebrag

One entrepreneur shared with me his personal experience meeting a particular mentor, who spent more time boasting about his accolades and achievements, without even trying to listen to his needs.

Effective mentors are those who listen intently to the entrepreneur to gather sufficient understanding. From there, he uses his prior experiences to guide and impart lessons to the entrepreneur.

If you have a windbag for a mentor, your time is better spent elsewhere finding others.

They go beyond business and understand you as a person

Every entrepreneur is unique, with her own quirks, character, strengths and weaknesses. Businesses can be somewhat similar in nature, but not entrepreneurs.

Effective mentors are those who take the trouble to understand you, and where your dreams and goals are. This is important so that they can offer suggestions that are suited towards your character, rather than leading you down a road you feel uncomfortable about.

To me, the best mentors are those who care for you deeply, as they are like a parent to you. Because those are the ones who provide you with the encouragement when you are down. I personally do that to my startup mentees, because when they succeed, I gain the satisfaction that my mentoring produced value.

They keep information confidential and do not abuse it

A relationship between mentor and entrepreneur is a privileged one. Information has to be kept in utmost confidence. Even terms sheets and negotiations which are deemed sensitive should never be shared, and more importantly, not lead to exploitation or blackmail.

Also Read: 7 common legal pitfalls startup founders should avoid

Abusing the trust is likened to that of a breach of doctor-patient confidentiality. I always advise entrepreneurs to take the time to get to know the mentor first before entrusting him with too much confidential information.

Ending thoughts

As I end this article, finding a great startup mentor with relevant experience and one who also cares for you to see you succeed without strings attached is a challenge. But then again, it is worth seeking out the right one to walk with you on your journey.

—

This is part of the “Startup Advisories” series, where I share pertinent issues faced by startup entrepreneurs. The NEXT50.sg initiative is a pro-bono network of startup mentors who support Singaporean entrepreneurs in their startup journey.

Image Credit: stockbroker / 123RF Stock Photo

e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.

This article was first published on May 4, 2018

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Singapore-based digital healthcare provider WhiteCoat Global has agreed to acquire telemedicine company Good Doctor Indonesia for an undisclosed amount.

The deal combines WhiteCoat’s expertise in working alongside the region’s top insurers and corporations to develop and provide omnichannel integrated healthcare services across multiple markets with Good Doctor’s strong position in Indonesia’s digital health space.

The combined entity will work with over 130 insurers and 7,500 corporate partners to serve over 6.8 million insured lives. It will offer online and in-person health and wellness solutions across Southeast Asia.

Also Read: One doctor for every family: Good Doctor wants to make healthcare accessible for all Indonesians

In addition, WhiteCoat has secured an undisclosed sum in a funding round led by Raffles Family Office and participated in by MDI Ventures and The SoftBank Vision Fund.

WhiteCoat founder and CEO Bryan Koh said: “This move not only strengthens our market presence in the largest economy in Southeast Asia but also underscores our commitment to deliver innovative, technology-driven care and work towards enhancing healthcare access beyond insured members to the broader population of over 650 million people across Southeast Asia.”

Good Doctor’s CEO, Danu Wicaksana, added: “Together, we will enhance healthcare access and quality, delivering comprehensive digital and in-person care tailored to the unique needs of Indonesian families.”

WhiteCoat is an omnichannel provider of integrated health and wellness services. Since launching in 2018, WhiteCoat has powered a range of services, including tele- and in-person consultations, medication fulfilment, and diagnostic testing across primary, specialist, and allied care. With a focus on the B2B space, WhiteCoat has forged strategic partnerships with the region’s leading insurers, corporates, and care providers to provide accessible, affordable, high-quality care to its users.

Since 2023, WhiteCoat has provided over 1.5 million consultations and medication fulfilment services across Singapore, Indonesia, Vietnam, and Malaysia.

Good Doctor is a technology-based integrated health service provider with the vision of ‘One Doctor for Every Family in Indonesia’. It collaborates with Grab to provide an integrated telemedicine service, namely GrabHealth powered by Good Doctor, to provide users in Indonesia access to quality health services.

As a B2B2C telehealth player, Good Doctor has built partnerships with over 130 insurance companies, 3,500 corporate clients, and over eight large third-party administrators (TPAS). The firm claims its user base has grown to around 15 million, and it has partnered with over 1,000 doctors and 4,500 healthcare facilities.

Also Read: WhiteCoat closes a tranche of Series B round, poised to break even in Singapore

In addition, Good Doctor provides a 24×7 healthcare solution through the Medical Consulting feature, an e-commerce service for medicines and health products for purchasing and delivery, partnering with more than 4,500 pharmacies, hospitals, and official health laboratories, and Health Articles, which provides content about health, tips, and lifestyle curated by a team of doctors.

The startup hosts thousands of medical specialists across over 26 departments of clinical specialities with thousands of general practitioners.

The post WhiteCoat to strengthen Southeast Asian presence with Good Doctor buyout appeared first on e27.

Dear reader,

The Indonesian government’s decision to block the Temu app is a bold step in safeguarding the interests of local micro, small, and medium enterprises (MSMEs).

By preventing foreign platforms like Temu, which directly connects overseas manufacturers with Indonesian consumers, the Ministry of Communication and Informatics is addressing the growing concern over unfair competition faced by local businesses.

Minister Budi Arie Setiadi’s move sends a strong message that the government prioritises the sustainability of its domestic economy, particularly the MSMEs that are the backbone of Indonesia’s economic growth.

Temu’s business model, similar to that of Shein, bypasses local businesses and creates an uneven playing field. Offering products from foreign manufacturers at lower prices undercuts local producers and threatens the livelihoods of millions of Indonesian MSMEs, especially in regions known for their craftsmanship like Tasikmalaya and Pekalongan.

This intervention reflects Indonesia’s broader strategy to control the digital marketplace and protect local industries from the encroachment of global e-commerce giants.

As digital markets evolve, this regulatory stance is critical to ensuring that technology does not undermine local economies, while supporting innovation that benefits both consumers and domestic enterprises.

Sainul
Editor.

—

NEWS & VIEWS

WhiteCoat to strengthen Southeast Asian presence with Good Doctor buyout
The combined entity will work with over 130 insurers and 7,500 corporate partners to serve over 6.8 million insured lives; In addition, WhiteCoat has secured an undisclosed funding round led by Raffles Family Office.

Indonesia bans Chinese e-commerce giant Temu to protect local MSMEs
According to the government, Temu is not eligible to operate in Indonesia as it was not registered as an electronic system provider; The Ministry of Cooperatives and SMEs disclosed that Temu has attempted to register in Indonesia three times.

Bukalapak responds to Temu acquisition report following recent share price increase
In a letter to the Indonesia Stock Exchange, e-commerce firm Bukalapak stated that it was “not aware of any information regarding its acquisition plans by Chinese e-commerce major Temu.

ByteDance’s TikTok cuts hundreds of jobs in shift towards AI content moderation
Its TikTok platform employs a combination of automated systems and human moderators to moderate content on its platform; The technology firm is also planning more retrenchments next month as it looks to consolidate some of its regional operations.

OpenAI announces Singapore expansion amid doubling of ChatGPT users
OpenAI will work closely with Singapore government partners, such as the EDB, to support the country’s local AI ecosystem; OpenAI has also partnered with AI Singapore to make advanced AI more widely accessible across SEA.

watchTowr secures US$19M to combat emerging cyber threats
The investors are Peak XV Partners, Prosus Ventures, and Cercano Management; watchTowr helps organisations understand and identify high-impact weaknesses in their cybersecurity defences.

Vertex Growth invests in Japanese proptech startup estie’s US$20M round
The other backers are Temasek, Globis Capital, and Global Brain; estie, which provides real estate developers and institutional investors with services that facilitate industry transactions, plans to expand into Southeast Asia.

Singapore’s Meridian Innovation secures US$12.5M to scale operations
The investors are Moveon, TCVC, and HKSTP; Meridian Innovation is a thermal imaging sensors developer; The funding will be used to scale operations, accelerate product development and expand its reach into broader consumer and commercial markets.

Singapore’s fintech firm Surfin raises US$12.5M funding
The investor is Insignia Ventures Partners; Using Al and analytics, Surfin strives to provide an ecosystem of transparent and innovative financial services to the growing, underbanked middle class.

FTX’s Ryan Salame posts jokes on LinkedIn as he heads to prison
The former co-CEO of FTX Digital Markets is starting his seven-and-a-half-year fraud sentence today; Many of the company’s executives have been found guilty on various counts of fraud or conspiracy to commit such acts.

TransTrack in talks to buy port and fleet management firm after US$12M round
It is looking for a company that already has the software and features that can complement TransTrack’s solutions in port and marine operations, as well as the expertise in installing advanced equipment on vessels, tug boats, and barges.

SEA startups secure US$202M in September
This marks a 28.66 per cent rise in funding over August 2024 and a 27.86 per cent decline from September 2023; The region witnessed seven seed-stage, six early-stage, and three late-stage funding rounds last month.

Earlybird AI secures Antler-led funding to simplify finance admin for SMEs
The Singaporean fintech startup has developed a mobile app to make business finances and accounting painless and intuitive while giving real-time visibility into the business.

Emma Watson invests in reproductive health firm Hertility
Watson is known for her interest in the environment and supporting women-led initiatives; She is a UN Women Goodwill ambassador and helped launch the HeForShe campaign, which promotes gender equality.

Startupbootcamp launches TradeSpark programme in Singapore
The TradeSpark programme aims to bring together MNCs, local corporations, and startups/scale-ups to collaborate on cutting-edge supply chain solutions.

Google ordered to open up Google Play to rivals
Judge James Donato issued his final ruling in the Epic and Google saga on Monday, detailing how Google has to change how it operates Google Play.

FEATURES & INTERVIEWS

Revolutionising urban commutes: SEA’s prominent electric two-wheeler startups
Electric two-wheelers are seen as efficient, affordable, and flexible solutions for short-distance travel, especially for last-mile connectivity.

FROM THE ARCHIVES

How startups should pivot towards being customer-centric
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Mind your emotions: why emotional agility is the key to personal growth
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5 incentives that can be helpful in attracting awesome employees
When it comes to employees, you can’t expect the best of the best unless you can provide suitable incentives.

Looking beyond the surface of optimising customer experience
As the VP of marketing at PayPal, this is what I can share on how e-commerce startups can optimise their customer experience.

15 strategies for a successful acquisition
I have completed more than 30 corporate acquisitions on both sides of the transaction. Here are the most important, hard-won lessons.

5 essential organisational steps for your startup’s tech infrastructure
Always make sure you review your tech infrastructure from time to time, especially when there is a change to your business.

How to create a great thought leadership article even though you suck at writing
If you are keen on leveraging thought leadership for better brand positioning but are hesitant about your writing skills, this is for you.

5 growth hacking tips you must consider for your business
Growth hacking is the revolutionary element in the world of startups which has changed the fate of many business ventures for good.

For Indonesia’s 2nd generation unicorns, international expansion is the name of the game
When it comes to producing unicorn startups, Indonesia has done a phenomenal job in a relatively short time.

Balancing revenue, impact remains the top challenges faced by social impact startups
For these social impact startups, cross-party collaboration can be a key to tackling these unique challenges.

What you should expect from your startup mentor
Make sure your startup mentor is a pillar of support and not one who constantly disparages and puts you down.

How should non-tech companies approach AI?
Non-tech organisations often have a completely different set of conditions that call for unconventional strategies for AI deployment.

The best New Year resolutions for startup founders: Offering ESOPs that actually work
I want to share key takeaways for founders who are thinking of designing competitive ESOPs in 2022 in order to attract and retain talent.

THOUGHT LEADERSHIP

Why Vietnam is the next big thing for startups and corporate partnerships
With its fast-growing economy, youthful population, and rapid digital adoption, Vietnam offers fertile ground for innovation.

Why Southeast Asian startups must prioritise profitability over rapid scaling
Investors are watching closely, and the startups that thrive in these markets will be the ones that can balance innovation with sound financial strategies.

CSR as a core strategy: How Asia’s tech companies are leading the way
By implementing strong CSR strategies, Asian tech firms boost their reputations while advancing sustainable development goals.

Understanding cybersecurity threats: What you need to know to stay safe
Knowing key cybersecurity threats like phishing, ransomware, insider threats, and APTs helps improve your defences.

Why traditional marketers must embrace digital marketing: Top 3 skills to learn
To stay relevant, it’s crucial that traditional marketers continually learn and adapt to the digital marketing ecosystem.

The power of replication: Fintech success stories in Singapore and Indonesia
Case studies of Xfers, KoinWorks, Tokocrypto, Validus Capital, Nium, and StashAway show how fintech and DeFi firms can use competitor content strategies for success.

—

The post Ecosystem Roundup: Indonesia blocks Temu | WhiteCoat acquires Good Doctor | ByteDance lays off around 500 staff in Malaysia appeared first on e27.

Corporate Social Responsibility (CSR) has increasingly become a significant aspect of business operations around the world, and Asia’s rapidly growing tech industry is no exception.

As the digital landscape in Asia continues to expand, with tech giants from countries like China, India, Japan, and South Korea leading the way, there is a growing recognition of the critical role that CSR plays in sustainable business practices. The importance of CSR for Asian tech companies lies not only in fulfilling regulatory expectations but also in shaping long-term business success, improving corporate image, and fostering trust with stakeholders.

The growth of the tech industry in Asia

Asia’s tech sector is one of the fastest-growing and most innovative industries globally, with companies such as Tencent, Alibaba, Samsung, and Infosys becoming major global players. The region is a global hub for cutting-edge technology development, ranging from e-commerce and social media platforms to artificial intelligence (AI) and semiconductor manufacturing. However, as these companies grow in scale and influence, they are under increasing scrutiny regarding their social and environmental impact.

The digital revolution has ushered in a wave of benefits, including improved communication, economic growth, and the democratisation of information. At the same time, it has raised concerns about labor practices, environmental degradation, data privacy, and the ethical use of AI. Addressing these challenges through CSR strategies allows Asian tech companies to navigate a complex and interconnected global economy while contributing positively to society.

CSR as a strategic business tool

CSR is no longer seen as an optional activity or a peripheral responsibility. It has evolved into a core business strategy that can drive competitive advantage, particularly in the highly competitive tech industry. For Asian tech companies, integrating CSR into their business models is crucial for several reasons:

Enhancing reputation and building trust

In an era where brand loyalty and corporate reputation are critical, tech companies that demonstrate a commitment to CSR are better positioned to build trust with consumers, investors, and governments. The public, especially younger generations, increasingly favour companies that align with their values, including sustainability, fairness, and social justice.

A positive reputation can help attract top talent, retain customers, and secure partnerships. For instance, Samsung has focused on environmental sustainability, particularly in recycling and reducing electronic waste. Such efforts have bolstered its global image, ensuring that the brand is perceived not only as a leader in innovation but also as an environmentally responsible corporation.

Regulatory compliance and risk mitigation

Governments across Asia are increasingly introducing regulations that require businesses to adhere to specific environmental, social, and governance (ESG) standards. Companies that fail to meet these requirements risk facing fines, legal challenges, or losing operating licenses. By proactively incorporating CSR into their strategies, tech companies can stay ahead of regulations and mitigate potential risks.

Also Read: For startups, embracing ESG focus is a sure-fire way to secure corporate success

For example, China has tightened its regulations on carbon emissions and waste management as part of its commitment to achieving carbon neutrality by 2060. As a result, Chinese tech companies like Alibaba and Tencent have invested heavily in green technologies, clean energy, and sustainable infrastructure to comply with the government’s directives while promoting a responsible corporate culture.

Contributing to sustainable development

Asia faces numerous socio-economic challenges, including poverty, inequality, and environmental degradation. Tech companies in the region are uniquely positioned to contribute to sustainable development by leveraging their technological expertise. By implementing CSR initiatives that focus on education, digital inclusion, and environmental sustainability, these companies can address pressing social issues while aligning with global Sustainable Development Goals (SDGs).

For example, India’s Infosys has been at the forefront of addressing climate change through its CSR initiatives. The company has invested in renewable energy, achieving carbon neutrality and enhancing water conservation measures on its campuses. Additionally, Infosys has been promoting digital literacy and education through its Infosys Foundation, thereby helping bridge the digital divide in India’s rural areas.

Fostering innovation through CSR

CSR initiatives can also stimulate innovation within tech companies. By focusing on sustainable development and social responsibility, tech companies can explore new business models and develop products that address social challenges. The drive for greener technologies, ethical AI, and data privacy can lead to breakthrough innovations that are not only profitable but also socially beneficial.

For instance, Huawei, a leading Chinese tech company, has made significant strides in developing AI-powered solutions for environmental monitoring and disaster management. This aligns with global efforts to combat climate change and build more resilient societies. Similarly, South Korean tech giant LG has been investing in eco-friendly product designs, such as energy-efficient home appliances and sustainable packaging, which meet consumer demand for greener alternatives.

Also Read: How to incorporate sustainability into corporate strategies

CSR as a global business imperative

In a globalised world, Asian tech companies operate on an international stage, where they must adhere to both local and global expectations of ethical conduct. Consumers, investors, and governments worldwide are holding companies accountable for their impact on society and the environment. Failing to meet these expectations can lead to reputational damage, financial losses, and diminished market share.

Asian tech companies are increasingly competing for investment from international funds that prioritise ESG criteria. Investors are now looking beyond financial returns, favouring companies that integrate social and environmental considerations into their core business strategies.

In essence, the importance of CSR in Asian tech companies cannot be overstated. As these companies continue to grow in influence and reach, their ability to address social, environmental, and ethical concerns will determine their long-term success. By adopting robust CSR strategies, Asian tech firms not only enhance their reputations but also contribute to the broader goal of sustainable development. In the dynamic and fast-evolving tech landscape, CSR is no longer just a moral obligation – it is a strategic imperative for success in the 21st century.

Remember, as I always say, together we are stronger.

—

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 group, FB community, or like the e27 Facebook page.

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India is facing a serious housing shortage due to its fast-growing population and rapid urbanisation. The need for affordable homes, especially in cities, is increasing quickly and continues to be a major challenge for millions of people.

According to the 2011 census data, the Ministry of Housing and Urban Affairs estimated an urban housing shortage of 18.78 million from 2012 to 2017. As of January 2024, the PMAY scheme has approved 1.19 crore houses, with 80.02 lakh already completed. Although the 2024 Budget highlighted a strong focus on housing for all, progress on the ground is still limited.

The affordable housing gap 

According to a United Nations report, India’s urban population is projected to grow from 34 per cent in 2020 to 40 per cent by 2030. This rapid urbanisation has bolstered the demand for housing, especially in metro cities like Delhi, Mumbai, Chennai, Bengaluru and Kolkata. Unfortunately, the supply of affordable housing has not kept pace with this growing demand.

Recognising the demand for affordable housing, the government introduced various schemes and even tax incentives for builders investing in this sector. These measures have generated interest among developers in investing in affordable housing, albeit with mixed outcomes.

Innovative finance mechanisms 

While the government has laid the foundation for affordable housing, innovative financing models are transforming the Indian real estate landscape by addressing issues related to affordability, accessibility and liquidity. Traditional financing methods, dominated by banks and NBFCs, are being complemented by new approaches that address diverse requirements.

Some of these include :

• Public private partnership: In this model, the government collaborates with private real estate developers to build affordable projects. Government provides the land, usually at a subsidised rate, while the private players contribute the capital. This collaboration has been instrumental in lowering costs and accelerating project completion, making affordable housing far more viable.

• Micro-finance institutions: In recent times, micro-finance institutions have emerged as practical  options for funding low-income housing. These institutions offer small loans with flexible repayment terms to individuals often excluded from the traditional banking system.

Also Read: Transition climate risk: Navigating the future of sustainable real estate

• Social impact bonds: Social Impact Bonds (SIBs) are innovative financing mechanisms for affordable housing projects. They involve private investors funding social initiatives, with the government repaying them based on the success of the project. When it comes to affordable housing, SIBs can be used to finance realty projects aimed at providing housing for low-income families. If the project meets its goals, the investors receive a return on their investments.

• Crowdfunding platforms: In this scenario, online platforms enable organisations and individuals to combine their resources and invest in housing development projects. Crowdfunding has the potential to democratise real estate investment, allowing small-scale investors to contribute towards social issues like affordable housing.

• Digital lending platforms: Digital lending platforms have revolutionised financing for affordable housing in the recent past. These platforms implement advanced technologies like big data analytics, artificial intelligence and machine learning to assess creditworthiness accurately.

These lending platforms frequently collaborate with real estate developers to offer customised loans and schemes that help lower upfront costs for buyers. Such partnership makes housing not only affordable, but also financially sustainable for homebuyers in the long-term.

Challenges and the way forward 

Despite progress made through various innovative financing solutions, many challenges persist. Land acquisition in urban areas remains difficult due to constraints which drives up the cost. Also, the success of affordable housing projects relies heavily on the availability of basic infrastructure such as roads, sanitation facilities and proper water supply.

Affordable housing conundrum is a complex issue that demands a multifaceted approach. Innovative financial solutions have the potential to transform the sector, particularly when it comes to addressing specific needs of low income households. While challenges persist on the path to provide housing for all, the right financial mechanism can make this goal achievable.

As rapid urbanisation progresses, it is essential to ensure that every Indian citizen has access to safe and affordable housing.

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Southeast Asia’s electric electric two-wheeler market is rapidly expanding and is driven by urbanisation, growing environmental awareness, and a push for sustainable transportation solutions.

Increasing traffic congestion and pollution in cities like Jakarta, Bangkok, and Manila push governments and consumers toward eco-friendly alternatives. Electric two-wheelers are seen as efficient, affordable, and flexible solutions for short-distance travel, especially for last-mile connectivity.

Many Southeast Asian governments, including Singapore, Thailand, and Vietnam, offer incentives, subsidies, and infrastructure development to promote electric vehicles (EVs). These initiatives align with broader goals to reduce carbon emissions and improve air quality.

In this feature, we bring you a list of Southeast Asia’s ten prominent two-wheeler startups.

Beam

Beam is an app-based electric kick-scooter-sharing platform. The mobile app enables users to locate, book, and unlock scooters. It offers variant payment options, non-deposit rides, etc.

Also Read: After growth and profitability, this is what Beam is looking forward to achieving in 2023

Location: Singapore
Founding year: 2018
Total funding raised: US$135 million
Investors: Affirma Capital, EDBI, RTP Global, AC Ventures, Momentum Ventures, Hana Ventures, ICT Capital, Peak XV Partners, Redbadge Pacific, Right Click Capital, Cherubic Ventures, AppWorks, Founders Fund, Zhen Fund, Maloekoe Ventures, K2 Global, Pascal Capital, Arbor Ventures, Insignia Ventures Partners, Class 5, 500 Vietnam, Gobi Partners, Tekton Ventures, RISE, Innoven Capital, Blue Ivy Ventures, MDI Ventures, Alumni Ventures, ABC Partners, Kirin Adams, Ataria Ventures, Partech Partners, West Quad Ventures, Light Ray Ventures.

Neuron Mobility

It is an app-based rental platform for electric kick scooters and bicycles. Riders scan QR codes on the Neuron Mobility app to unlock the vehicle. They can make online payments and end the trip by clicking a photo of the scooter parked at a designated station.

Location: Singapore
Founding year: 2016
Total funding raised: US$81 million
Investors: GSR Ventures, EDBI, Square Peg Ventures, GSR Ventures, SeedPlus, SEEDS Capital, Siri Ventures, ACE Capital Group, 500 Global, Genesis Ventures, XA Network.

ALVA

ALVA designs, develops, and manufactures electric scooters with features like Bluetooth connectivity. The app also allows users to visualise the scooter in augmented reality.

Location: Indonesia
Founding year: 2021
Total funding raised: US$49 million
Investors: Horizons Ventures, Indika Energy, Brama One Ventures, Foxconn Co-GP Fund, Standard Chartered, Alpha JWC Ventures.

MAKA Motors

It manufactures electric motorcycles. It prioritises local engineering and craftsmanship in its manufacturing process. The platform is focused on conducting research and development.

Also Read: Former Gojek top execs’ e-motorcycle startup MAKA Motors closes a massive US$37.6M seed round

Location: Indonesia
Founding year: 2022
Total funding raised: US$37.6 million
Investors: AC Ventures, East Ventures, SV Investment, Northstar Group, Skystar Capital, Peak XV Partners, Openspace Ventures, Shinhan Venture Investment, Beenext, Kinesys Group, MVP, AlfaCorp, Provident Capital Partners.

ION Mobility

It develops electric motorcycles. The company designs and develops electric motorbikes with features like a TFT display, an integrated battery pack, and a keyless start.

Location: Singapore
Founding year: 2019
Total funding raised: US$31.3 million
Investors: TVS Motor Company, TNB Aura, Quest Ventures, Monk’s Hill Ventures, Village Global, GDP Venture, AC Ventures, SEEDS Capital, 500 Global, AngelCentral, kipleX, Plug and Play Tech Center, Aura Ventures.

Dat Bike

It manufactures electric motorbikes. The company developed the Weaver model, which features a lithium-ion battery, an 80 kmh speed range, a hydraulic braking system, and more. It also provides a mobile app for connecting to the motorbike.

Location: Vietnam
Founding year: 2018
Total funding raised: US$16.5 million
Investors: Jungle Ventures, GSR Ventures, Wavemaker Impact, Innoven Capital, Delivery Hero Ventures, iSeed, Hustle Fund.

Scorpio Electric

Scorpio Electric is a manufacturer of electric two-wheelers. It develops models with power balancing, optimum maintenance, integrated drive train, and single swing arm. The company also offers an AI-enabled mobile application with features like battery usage analytics, remote anti-theft, charging station location, etc.

Location: Singapore
Founding year: 2017
Total funding raised: US$16.35 million
Investor: EuroSports Global.

Mober Technologies

A provider of electric fleet-based last-mile delivery services, the platform offers technology-driven logistics services with shipping, AI-optimised route planning, booking solutions, and more. Its tracking feature allows users to track and monitor delivery progress in real time.

Also Read: The great EV transition: Is Asia ready?

Location: The Philippines
Founding year: 2016
Total funding raised: US$10 million
Investors: Clime Capital Management, Rtheptagonholdings, 2GO Group, Index Partners.

Charged

A manufacturer of electric motorcycles with state-of-the-art high-capacity LI-ION batteries and unique wheel drive.

Location: Indonesia
Founding year: 2021
Total funding raised: US$7.7 million
Investors: Vmoto Soco, DeClout.

SCOOTA

SCOOTA is a customisable app-based electric kick scooter rental platform available in select cities of Thailand. Users can find and locate nearby available SCOOTA stations and reserve scooters. They can unlock reserved vehicles by scanning the QR code rental app and using the scooters for the ride.

Location: Thailand
Fandunding year: 2008
Total funding raised: US$5.7 million
Investor: Alpha Founders Capital.

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Image Credit: 123RF.com.

Data courtesy: Tracxn.

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Singapore-based cybersecurity startup watchTowr has announced a US$19 million Series A funding round led by Peak XV Partners, with repeat participation from Prosus Ventures and Cercano Management.

The company will use the funds to accelerate global growth by expanding its go-to-market, research and engineering teams.

The latest investment brings watchTowr’s total funding raised to US$29 million.

Also Read: Cybersecurity startup watchTowr bags US$8M pre-series A co-led by Prosus Ventures, Vulcan Capital

Founded in August 2021 by hacker-turned-entrepreneur Benjamin Harris, watchTowr helps organisations understand and identify high-impact weaknesses in their cybersecurity defences. It provides organisations with a continuous, real-time view of their external attack surface through the eyes of a sophisticated attacker, enabling it to continuously identify vulnerabilities that would allow attackers to compromise an organisation.

Over the past year, watchTowr has seen significant adoption from critical infrastructure and Fortune 500 companies looking to strengthen their security measures.

“If there’s a way to compromise your organisation, watchTowr will find it,” said Harris. “In the last 12 months, our predictions have been realised. Attackers have become faster at weaponising emerging vulnerabilities, more aggressive at leveraging weaknesses to compromise organisations indiscriminately, and time to exploitation in the wild is now measured in single-digit hours. We strongly believe that rapid reaction to these threats is one of the most powerful capabilities security teams can leverage.”

Also Read: watchTowr can tell an organisation in real time if it can get compromised

In addition to funding, the company also announced the appointment of former Cloudflare President of Field Operations & Chief Revenue Officer Chris Merritt to its board of directors to help guide watchTowr’s global growth. Merritt spent over ten years at Cloudflare, helping the company scale to over US$1 billion in annual recurring revenue.

In 2022, watchTowr raised US$8 million in a Pre-series A investment round co-led by Prosus Ventures and Vulcan Capital. The startup earlier received US$2.25 million in November 2021 from Vulcan Capital and Wavemaker Partners.

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Cybersecurity dominates the worry list for both individuals and businesses, and for good reason — our digital lives are on the line. Cybercrime perpetrators lie in wait as our lives migrate online, set to pilfer sensitive info, siphon off business secrets, and compromise national safety. Cyber threats can strike at any moment, and their deceptive nature means you must stay one step ahead to safeguard your digital property.

As October is Cybersecurity Awareness Month, let’s talk about cybersecurity threats that are a Pandora’s box of problems — we’re opening it up to expose the scariest ones, how they ravage businesses and personal lives, and the tactical moves to keep you ahead of the curve.

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