AnyMind Group, a Business-Process-as-a-Service (BPaaS) company catering to marketing, e-commerce, and digital transformation, has reported impressive financial results for the third quarter of fiscal year 2024, signifying its robust financial standing.

The Singapore- and Japan-based company’s performance was marked by significant year-on-year (YoY) growth across key financial indicators.

Also Read: AnyMind Group sets foot in Malaysia by acquiring e-commerce enabler Arche Digital

• Revenue surged by 53 per cent YoY, reaching JPY13 billion (US$83 million)
• Gross profit followed a similar upward trajectory, increasing by 46 per cent YoY to JPY4.7 billion (US$30 million).
• Operating income witnessed a substantial rise of JPY486 million YoY, reaching JPY708 million.
• Adjusted EBITDA also experienced a significant jump of JPY572 million YoY, hitting JPY1 billion.

This positive financial performance is attributed to the continued growth momentum across AnyMind Group’s three core business units:

• Marketing platforms: This segment recorded a 33 per cent YoY increase in gross profit, reaching JPY2.2 billion.
• Partner growth Platforms: This unit demonstrated even stronger growth with a 56 per cent YoY rise in gross profit, amounting to JPY1.6 billion.
• D2C and e-commerce platforms: This segment exhibited the most substantial growth, achieving a 65 per cent YoY increase in gross profit, totalling JPY932 million.

Furthermore, AnyMind Group’s strategic acquisitions have proven fruitful, contributing significantly to the company’s overall financial success. Two recently acquired companies, Digital Distribusi Indonesia and Arche Digital, have displayed remarkable growth post-merger.

• Digital Distribusi Indonesia: This company witnessed a remarkable 111 per cent YoY surge in net sales and a 124 per cent YoY increase in gross profit between April-September 2023 and April-September 2024.
• Arche Digital: Similarly, this company exhibited a 40 per cent YoY growth in gross sales and a 50 per cent YoY rise in gross profit during the same period.

Also Read: Echelon X: AnyMind Group Co-Founder Otohiko Kozutsumi on the third evolution of the creator economy

Based on its strong Q3 performance, AnyMind Group has confidently revised its full-year earnings forecast upwards for the second time.

• Operating profit forecast has been raised by JPY450 million (23 per cent) to JPY2.4 billion.
• Net income attributable to owners of the parent has been increased by JPY230 million (17 per cent) to JPY1.58 billion.
• The company maintains its original forecasts for revenue and gross profit.

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1 JPY=0.0064 USD

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Southeast Asian (SEA) climate tech venture builder Wavemaker Impact recently released a white paper titled Portfolio Acceleration: Getting Companies Seed Round Ready. The paper illuminates the challenges early-stage startups face in SEA and the support they need to achieve rapid, sustainable growth.

The white paper highlights Portfolio Acceleration, which is described as the strategic approach through which venture capital (VC) funds assist their portfolio companies in scaling quickly and effectively, optimising both impact and return on investment.

While much literature has focused on scaling up companies in later stages (such as Reid Hoffman’s Blitzscaling and Elad Gil’s High Growth Handbook), Wavemaker Impact’s white paper aims to bridge a knowledge gap for early-stage startups, where failure rates are particularly high.

Studies show that up to 80 per cent of startups at the pre-Series A stage ultimately fail. The paper argues that this high failure rate underscores the need for a systematic framework to accelerate early-stage startups towards a proven market opportunity and reduce risks along the way.

Also Read: AnyMind’s Q3 revenue surges 53% on strong D2C, e-commerce platforms growth

Key findings on early-stage startups in SEA

The Portfolio Acceleration study identifies three key elements essential for the growth of early-stage startups in the region: Product-Market Fit (PMF), founder-driven focus, and the necessity of strategic guidance.

1. Achieving Product-Market Fit (PMF)

The study found that PMF, defined as a state in which a company’s product meets strong market demand, is fundamental for early-stage startups hoping to grow quickly and sustainably. Startups that attain PMF sooner typically have a competitive advantage, allowing them to focus on scaling efforts. A fast, iterative approach to product development and testing was a common thread among successful companies in Wavemaker Impact’s research.

Rather than being a result of luck or capital, the speed at which startups achieve PMF rests largely on a founder’s ability to understand and fulfil customer needs.

The report defines PMF as “predictably and repeatedly generating positive unit economic revenue from a sufficiently large group of customers.” To achieve this, founders must employ a scientific mindset, using hypotheses, customer feedback, and ongoing testing to refine their product until it reliably meets demand.

2. The role of the founder

The study underscores the central role of founders in early-stage success. While a competent team is beneficial, it is the founder’s commitment to customer understanding and willingness to iterate on product design that often makes the difference in achieving PMF.

Also Read: Building Malaysia’s digital future: Ir. Wan Murdani on MDEC’s ambitions with Ascent and CCV

According to the findings, successful founders behave like scientists, designing rigorous experiments to test product hypotheses and refine their offerings based on customer insights. The study notes that no specific team role was found to be as critical in reaching PMF as the founder’s active involvement in shaping and steering the product.

Additionally, Wavemaker Impact found that founders benefit from creating a supportive team environment that enables them to focus intensively on PMF without distraction.

3. Strategic guidance from investors

Another pivotal insight from the study is the importance of strategic guidance from investors. The white paper highlights that the most common request from founders of early-stage startups is for mentorship in prioritising tasks, building a business roadmap, and navigating the unique challenges of starting a business.

With limited established resources for early-stage growth, many founders look to investors for support in clarifying their strategic direction.

The study suggests that effective investors act as “peers” rather than just backers. By engaging in open dialogue, conducting business reviews, and offering strategic advice, investors can help founders identify key objectives and tackle complex challenges with a clearer plan.

This collaborative relationship helps founders navigate the ambiguity of early-stage growth, particularly the period the study dubs the “Valley of Validation,” when companies experiment and try to prove their market potential.

The challenge of navigating ambiguity in early-stage growth

The Portfolio Acceleration study highlights a central challenge in early-stage growth: the need to manage ambiguity, particularly in the quest for PMF.

Also Read: Dossier secures funding to accelerate AI-powered compliance solutions for emerging markets

As mentioned, the Valley of Validation represents a period when startups must conduct rigorous testing and validation while maintaining momentum and investor confidence. This stage, marked by high uncertainty and few established milestones, is a difficult phase for founders, who often navigate uncharted territory.

With limited resources specific to early-stage growth in Southeast Asia, founders must be adept at strategic prioritisation and work closely with supportive investors to set a viable course.

The white paper also illuminates a broader issue within the SEA startup ecosystem: the lack of readily available resources for early-stage growth.

Compared to later stages, where scaling techniques and growth strategies are well-documented, Pre-Seed and Seed-stage companies have fewer guides and frameworks tailored to their needs. Wavemaker Impact’s Portfolio Acceleration study, therefore, calls for the development of more resources and guidance focused on early-stage companies.

Such resources could provide founders and investors with clearer strategies for navigating early-stage challenges, mitigating the high failure rates associated with pre-Series A companies.

Through a targeted focus on achieving PMF, strategic guidance, and founder-led growth, the study provides a roadmap for companies to reach market viability sooner, with less risk of failure. This pioneering approach has the potential to not only benefit startups in SEA but also to create a more resilient climate tech ecosystem across the region.

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Image Credit: © rawpixel, 123RF Free Images

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Have you ever thought of using AI tools like ChatGPT to help you score interviews and secure a job?

If you haven’t, it’s not too late! With these eight tips, you can get ahead of other job seekers by streamlining your job search and preparing with confidence.

Refine your resume and cover letter

Use ChatGPT to review and improve your resume and cover letter by focusing on relevant keywords and tailoring them to each job description.

Prompts:

• Help me tailor my resume for a [specific job title] at [company name], focusing on [skills].
• Rewrite my cover letter for a [specific job], making it more compelling and relevant to [specific field].

Prepare for interviews

ChatGPT can simulate mock interviews and help you practice answering common interview questions or industry-specific ones.

Prompts:

• What are the most common interview questions for a [specific job title] in [industry], and how should I answer them?
• Can you simulate an interview for a [specific job title] role, asking both technical and behavioural questions?

Research companies

Get a detailed overview of the company, including its culture, values, and recent news, to tailor your application or prepare for interviews.

Prompts:

• What are the core values and recent developments at [company name]? How can I align my application to fit their culture?
• Can you summarise any recent news or major projects at [company name] that I should be aware of before my interview?

Discover new job opportunities

ChatGPT can suggest job boards, industry-specific platforms, or networking tips to uncover hidden job opportunities.

Prompts:

• Can you recommend niche job boards or websites where I can find opportunities for [specific job title] in [industry]?
• What are some emerging companies in the [specific industry] hiring for [specific role] that I should explore?

Also Read: Is ChatGPT taking over financial management?

Negotiate salary and benefits

ChatGPT can help you develop a strong strategy to negotiate salary and benefits based on industry benchmarks.

Prompts:

• What is the typical salary range for a [specific job title] with [X years] of experience in [location]?
• How can I negotiate for better benefits in a [specific industry] role after receiving a job offer?

Craft personalised follow-up emails

After an interview or meeting, use ChatGPT to draft a professional and engaging follow-up email.

Prompts:

• Can you help me draft a professional follow-up email to thank the interviewers at [company name]?
• Write a follow-up email for me to check the status of my job application at [company name].

Expand networking skills

Get advice on how to network effectively, including how to approach professionals on LinkedIn or during industry events.

Prompts:

• What’s a good LinkedIn message template to introduce myself to a recruiter for a [specific role]?
• How should I reach out to industry professionals to ask for an informational interview about [specific job or industry]?

Find the right keywords for applications

ChatGPT can analyse job descriptions and extract the most important keywords that you should include in your application materials.

Prompts:

• Can you analyse this job description and highlight the most important skills and keywords for a [specific job title]?
• What keywords should I use in my resume to align with the job posting for a [specific job title] at [company name]?

These strategies and prompts can greatly enhance your job search, helping you stand out and be more prepared at every step.

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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 Instagram, Facebook, X, and LinkedIn to stay connected.

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Softlanding into Southeast Asia’s Markets via Key Startup Nodes and Hubs

At Echelon Philippines 2024, a panel titled ‘Softlanding into Southeast Asia’s Markets via Key Startup Nodes and Hubs’ examined strategies for startups aiming to enter and expand in Southeast Asia’s dynamic markets.

Moderated by Richard Ker, Chief Storyteller and Founder of RK Digital, the session featured insights from Alan Cheah, Country General Manager for Malaysia and Philippines at CARSOME; Anna Melissa Nava, Co-Founder and CEO of 1Export; and Patrick Lim, CEO of ACE.SG.

Panelists highlighted the strategic advantages of key startup nodes across Southeast Asia, each with distinct resources and ecosystems that can support new market entrants. The rapid expansion of Southeast Asia’s digital economy presents substantial growth opportunities, especially in populous markets like Indonesia and the Philippines.

Also Read: Echelon Philippines 2024: The next horizon for e-commerce entrepreneurs

Successful entry strategies, according to the speakers, involve a strong understanding of local cultures, the establishment of local partnerships, and careful consideration of regulatory requirements.

The discussion underscored the value of tapping into local networks—such as industry associations, investor communities, and professional services—to facilitate smooth market integration. By building relationships with local stakeholders and leveraging government support, startups can overcome initial barriers and establish a stronger foothold. The panelists agreed that, with careful planning and strategic alliances, Southeast Asia offers fertile ground for startups to scale and succeed.

Watch the session video above to learn more about these insights and the strategies shaping the future of entrepreneurship.

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The post Echelon Philippines 2024: Strategies for startups entering Southeast Asia’s dynamic markets appeared first on e27.

Dossier, a Singapore-incorporated regtech startup aiming to revolutionize financial crime investigation and due diligence, has secured undisclosed pre-seed funding from Singapore-based nVentures.

The funding will be used to expand the team and accelerate product development. The company, currently consisting of just the two co-founders, plans to grow its workforce and further develop its AI-driven toolkit.

Also Read: From civil war to innovation: nVentures’s Chalinda on the rise of Sri Lanka’s entrepreneurship

“We’re not just another compliance tool,” said Nisal Periyapperuma, CEO of Dossier. “We’re building an AI-driven ecosystem that adapts to the ever-changing landscape of financial crime.”

“Our goal is to become the go-to regtech solution for tier-3 financial institutions in emerging markets,” Yudhanjaya Wijeratne, Dossier’s co-founder and CRO, added. “These are the entities often overlooked by big players but are crucial for financial inclusion.”

Founded in 2024 by serial entrepreneurs Periyapperuma and Wijeratne, Dossier has developed an AI-powered risk operating system initially focused on anti-money laundering (AML) and customer screening.

Dossier, based in Sri Lanka, distinguishes itself from traditional compliance tools by offering an adaptive AI system that continuously learns and evolves, unlike static databases. The startup’s suite of compliance products aims to simplify operations for institutions by potentially eliminating the need for multiple vendors.

The firm has already secured two paying customers.

Also Read: Small market, big dreams: Meet the 30 Sri Lankan startups that are punching above their weight

Despite the advantages of its AI-centric approach, Dossier faces challenges in the rapidly changing AI landscape, requiring constant innovation to maintain its competitive edge.

The startup’s global competitors are LexisNexis and Chainalysis.

Regtech is a rapidly growing market which is projected to reach US$26.78 billion by 2032, driven by increasing regulatory pressure and the digital transformation of financial services.

The post Dossier secures funding to accelerate AI-powered compliance solutions for emerging markets appeared first on e27.

When we met at a local coffee shop in Singapore, DANA Indonesia CEO & Co-Founder Vince Iswara demonstrated to e27 how he used the DANA app to pay for services. “You can now use this to transact abroad at a more reasonable rate,” he said.

This ability, combined with DANA’s profitability, is what he considered the company’s most significant milestone in recent years.

DANA Indonesia is one of the leading digital payment platforms in the country. Beyond payments, the platform has also expanded to include gold and mutual fund investments that allow users to start investing with less than US$1.

In addition to Singapore, Thailand, and Malaysia, users will soon be able to use DANA to pay for transactions when travelling to Japan, China, South Korea, and India.

In this interview, Iswara speaks to e27 about building financial inclusions and what it takes for an Indonesian fintech startup to achieve this. Having reached profitability, he shares the strategy that DANA uses to reach out to underbanked and underserved users in the archipelago.

The following is an edited excerpt of the conversation.

Can you tell me more about the role that a startup plays in promoting financial inclusion in Indonesia? What impact has it had?

The reality is that most of the Indonesian population is either underbanked or unbanked.

But one factor that is not often discussed is that they also [feel] undeserved, meaning that they feel intimidated when they have to go into a bank. This is based on an interview that we have done with some users. “How come you don’t have a bank account?” It is because they feel intimidated. They feel undeserved because banking feels too fancy for them.

Also Read: Report: New fintech talents emerge as GenAI becomes increasingly popular in Singapore

The other factor is that, even when they only have a minimum amount in their accounts, there are usually fees associated with it, which makes people reluctant.

Many startups in Indonesia have provided frictionless access, which means that everyone can open their accounts more easily and seamlessly. We offer e-KYC, facial recognition, and integrations with the civil registry. We also do not charge fees for this service.

For most people, these are the more frictionless way to access banking services. It has been absolutely one of the fastest ways to inclusion. Because once you have your first digital bank account, you can use it for transactions and daily needs. You will then have access to other financial services, from insurance to lending. With that, you will have your credit score built.

The financial services ecosystem provides that. It includes accessibility, literacy, and eligibility for people to access other financial services. This is what we call inclusion.

What changes have you seen in Indonesia since DANA’s inception years ago, especially since the pandemic?

I am not saying that we are the last, but when we first got started, we were the later one to enter the market. So, at the time, it required a lot of marketing efforts to convince someone to try DANA.

What changes now is that people have become more educated about the usefulness and values [of digital payments]; they are willing to try even without incentives. That goes with the maturity and the push from all sectors to embrace digitalisation. Not just the industries but also the regulators.

Are there any remaining challenges that you have to tackle back home?

The challenge is to build a product that fits the customer’s needs and rights. Because, here is the thing: no product can always fit everyone’s needs. For example, the products needed by users in Tier One cities can be different from those needed by users in Tier Two and Three cities.

Also Read: From fintech to IoT: Southeast Asia’s standout startups with the largest funding rounds in 2024

Digital payment might be a universally accepted platform, but even then [there are varieties] in its forms.

We need to do things to ensure that [the product] fits more of the user profile so that adoption can happen faster.

Any unique strategies that you are using to adjust between the Tier One cities and those outside of it?

We have to ensure that the product is seamless, easy to understand, and fits their needs.

In Tier Three cities, the solutions that we provided cater to much smaller tickets compared to the other cities. The difference is not in the way the transactions are handled; it is in the merchants themselves. So, if we are targeting lower-tier cities, make sure that your solutions allow users to shop at merchants with lower ticket sizes and more frequent transactions.

Since we are nearing 2025, what are the exciting plans that you have in store?

We aim to expand many of our financial services, creating even more accessibility for the unbanked and underbanked, because we believe this will drive the Indonesian economy as well.

I would say there is an untapped potential for turning informal economies into formal economies. This is one of the biggest tasks as well. It is not just about accessibility and literacy but also about security, making sure that you can trust the platform and the digital ecosystem. So, we are doing a lot of activities related to protection, cyber security, anti-scamming, and anti-phishing.

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Image Credit: DANA Indonesia

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Wavemaker Partners, a prominent venture capital firm in Southeast Asia, has announced the first close of its inaugural Wavemaker Growth Opportunities Fund at US$30 million.

The fund, with a target size of US$60 million and a hard cap of US$100 million, will focus on supporting high-potential startups in the enterprise, deeptech, and sustainability sectors across Southeast Asia in Series B funding rounds and beyond.

Also Read: Wavemaker Impact launches Numat to transform bamboo into sustainable products

This initiative seeks to bridge the operational and funding gaps that startups often encounter as they scale. Historically, securing Series B funding has been a challenge for many promising startups in the region due to limited specialized support and capital. Wavemaker Growth will predominantly invest in promising companies already within the Wavemaker group’s portfolio.

Wavemaker Growth intends to invest in eight to 12 companies, with individual investments ranging from US$3 million to US$8 million as part of syndicate rounds of approximately US$20 million. These rounds may include other equity and debt investors.

The launch of Wavemaker Growth coincides with a strategic rebranding of the firm, uniting its various investment arms under the Wavemaker Partners brand.

The organization now comprises three distinct fund strategies:

Wavemaker Ventures: Concentrates on early-stage investments in Enterprise, Deep Tech, and Sustainability startups. Since 2012, it has backed over 200 companies across the region, managing over US$500 million in assets and generating over US$2 billion in enterprise value through successful exits. Notable portfolio companies include eFishery, Growsari, Lhoopa, and Silent Eight.

Wavemaker Impact: A climate tech venture builder in Southeast Asia launched in October 2021. It collaborates with established entrepreneurs to co-found startups aiming to reduce the global carbon budget. In December 2023, Wavemaker Impact closed its debut fund at US$60 million, surpassing its initial target by 2.5 times. Portfolio companies include Agros, WasteX, Helios, Rize, Bumibaru, RegenX, Refy, Elevate Foods, MetroElectro, Octayne, Numat, and HiFeed.

Wavemaker Growth: The newly established growth fund aims to support startups scaling from Series B onwards, offering financial backing and strategic guidance to help them overcome operational hurdles and prepare for successful exits.

Also Read: A deep-dive into Wavemaker Impact’s decarbonisation strategies in SEA

In addition, the VC firm has announced that Shiv Choudhury and Xue Koh have joined as founding partners of Wavemaker Growth.

Choudhury, co-founder of Growsari, previously led the regional consumer and consumer tech practice at The Boston Consulting Group (BCG) and held various regional leadership roles at Procter & Gamble (P&G). Koh leads the investment team at Black Kite Capital, a Singapore-based single-family office, and previously worked at Silver Lake and The Boston Consulting Group.

The post Wavemaker launches US$60M fund to bridge Series B gaps in SEA appeared first on e27.

The Fed’s two per cent inflation target has long been a pillar of US monetary policy, but its origins are more arbitrary than economic theory might suggest. This benchmark was first introduced in New Zealand in the 1980s to combat their runaway inflation. The Federal Reserve only adopted it as a formal target in 2012. Yet, as we move further into an era defined by global economic shifts, adhering to this rigid figure may harm more than it helps, not only within the US but also on a global scale.

Current employment data in the US tells only part of the story. Official statistics paint a picture of job growth, but white-collar unemployment remains elevated, and an influx of undocumented workers in cash jobs distorts the real employment picture. The Fed’s reliance on these metrics to justify rate hikes is problematic when higher interest rates create corporate layoffs, particularly in sectors that rely on skilled, well-paid labour. This cascade effect has global implications.

The US dollar is the world’s reserve currency, and a high interest rate in the US puts upward pressure on the dollar, causing challenges for emerging markets, particularly in China, Southeast Asia, and Latin America. In China, a strong dollar complicates exports, as US demand for imports falls when borrowing costs are high, affecting trade balances worldwide. Many emerging economies with debt denominated in dollars find it more costly to service their obligations, forcing budget cuts that can slow growth and erode social stability.

Also Read: Path to profitability: How SEA startups are thriving in 2024’s digital economy

Meanwhile, as the Fed’s two per cent target drives policy in the US, the impact spills over into global capital flows. Higher US interest rates divert investment away from emerging markets, which rely on foreign capital to drive growth and innovation. Countries like Brazil, India, and Indonesia face tougher competition for investment as their borrowing costs rise and growth projections become less stable. As investors flock to dollar assets, emerging economies are left with currency depreciation, inflation spikes, and fiscal stress.

Finally, the real estate and housing markets in the US demonstrate how inflexible targets fall short of understanding global trends. Rate hikes have made homeownership less attainable, increasing demand for rentals, which in turn drives up rental costs. This creates ripple effects in global cities where housing affordability is already a pressing issue. When US policy prioritises a two per cent target without flexibility, it doesn’t just risk domestic instability; it creates vulnerabilities in a globally interconnected market.

If the Fed were to adopt a flexible inflation target—perhaps in the three to four per cent range—it would not only benefit US economic conditions but also relieve some pressure on emerging markets. It’s time to consider whether the two per cent target, rooted in a different era and economic landscape, can adequately serve both US interests and global stability in 2024 and beyond.

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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 Instagram, Facebook, X, and LinkedIn to stay connected.

Image credit: Canva Pro

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Dear reader,

Grab’s return to profitability in Q3 marks a significant milestone for the company, underscoring its resilience and adaptability in Southeast Asia’s competitive tech landscape.

Turning a US$99 million loss last year into a US$15 million profit, Grab’s success can be attributed to a strong focus on operational efficiency and strategic investments in its core business segments.

The impressive 17% revenue growth to US$716 million not only surpassed analyst expectations but also highlights a robust demand for Grab’s on-demand services across the region.

The 224% increase in group-adjusted EBITDA to US$90 million demonstrates Grab’s ability to enhance profitability while scaling, especially by optimizing costs such as share-based compensation. CEO Anthony Tan’s comments reflect the company’s confident outlook as it anticipates further gross merchandise value (GMV) growth and raises its 2024 revenue forecast.

The surge in after-hours trading, with shares climbing over 12%, shows investor confidence in Grab’s growth potential, bolstered by Southeast Asia’s expanding digital economy and increasing consumer demand.

As Grab continues to invest strategically, it’s well-positioned to capitalize on long-term growth opportunities in the region, making this quarter a pivotal point in its journey toward sustained profitability and market leadership.

Sainul,
Editor.

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NEWS & VIEWS

Grab returns to profit in Q3, raises 2024 revenue forecast
It generated a profit of US$15M in Q3, a turnaround from a loss of US$99M the year before; The profit was due to improvements in group-adjusted EBITDA, as well as an increase in net finance income and lower share-based compensation expenses.

Philippine startup investments rebound to US$1B after a volatile 2023
It was driven primarily by a shift towards larger, growth-stage funding rounds rather than the survival-focused bridge rounds that dominated last year, says the ‘Philippine Horizons: Filipino Innovation in the ASEAN Landscape’ report.

Indonesia’s Intudo Ventures secures US$125M across two funds
Intudo Ventures IV will invest in 14 to 18 homegrown companies with initial cheque sizes ranging from US$1 million to US$10 million.

SoftBank projects US$1.87B profit, focuses on AI strategy
This increase is attributed to the successful public listings of its portfolio companies; Significant are SoftBank’s potential plans to develop AI chips, possibly in collaboration with Arm and newly acquired chip manufacturer Graphcore.

FTX files lawsuit against Binance, seeks US$1.8B recovery
The legal action seeks to recover the money, which FTX claims was improperly transferred by Sam Bankman-Fried; The lawsuit centres on a July 2021 share repurchase deal, where FTX alleges Binance received funds fraudulently.

Vendor seeks Qoo10 liquidation over US$54M debt
Korea Culture Promotion alleges Qoo10 owes them nearly USS$54.2M; The petition is supported by six other creditors, including SCI Ecommerce and Mister Mobile Trading.

Vietnam to block Shein, Temu if no November registration
The action depends on the companies’ failure to register with Vietnam’s trade ministry by November’s end; The industry and trade ministries will work with other agencies to block access if the companies do not comply.

Swiggy’s public debut will test India’s appetite for US$1B+ IPOs
The Indian company will enter a public market where large tech companies’ stocks have struggled historically; Three years after its US$2.5B offering, Paytm is still trading 47% below its IPO price.

There’s still growth potential in SEA e-commerce: Shopee’s Li
Forrest Li emphasized the role of emerging technologies like AI and blockchain in enhancing consumer experiences; Despite post-pandemic challenges in the tech sector, including layoffs, he pointed to the promise of tech-driven solutions.

Caroline Yap of Google Cloud: AI transformation at scale requires people as much as technology
The true success of AI adoption lies in how organisations balance technological advancement with human-centric considerations.

Indonesia’s Dash Electric closes seed financing round to grow its EV fleet
Lead investors are The Radical Fund and Bali Investment Club (BIC); Dash Electric is a B2B platform for on-demand delivery drivers and helps businesses book, track, and manage deliveries at scale.

FEATURES & INTERVIEWS

How WaveScan’s smart sensors and AI are shaping predictive maintenance
With robotics-enabled automated scanners, WaveScan has reduced the setup and asset inspection times and made the holistic scanning of entire assets viable.

Echelon Philippines 2024: Growsari’s ER Rollan on transforming the country’s retail landscape
The Echelon Philippines fireside chat explored how Growsari uses technology to digitise and empower small retailers for sustainable growth.

Report: New fintech talents emerge as GenAI becomes increasingly popular in Singapore
This new report by SFA and Accenture also points out how today’s fintech businesses can respond to this new kind of emerging talent.

Echelon PH 2024: Uncovering deeper opportunities in Southeast Asia’s fintech landscape
The Echelon Philippines panel explored emerging trends, niche markets, and potential disruptions in Southeast Asia’s financial technology landscape.

EVOV AI helps companies leverage AI to turn data overload into strategic insight
The founding team of EVOV AI brings together expertise in AI, data science, and business to develop this solution.

For BeLive, the hyperlocal approach is the way to win livestreaming in SEA
While TikTok Live and Facebook Live continue to dominate the SEA landscape, BeLive Technology anticipates room for alternative platforms.

FROM THE ARCHIVES

Bear necessities: Navigate the downturn with innovation
In a bear market, resilience is tested, offering opportunities for those with true staying power to shine as downturns reveal authenticity.

Our workplaces have changed a lot recently: Now here is the problem
The concept of work is blurring, it may seem like a minor issue, but it’s just the tip of the iceberg as we herald in the new normal.

Exploring the creator economy in gaming
Since gaming professionals are eager to create, gaming platforms must provide them with the tools and monetisation opportunities to do so.

The future of gaming is female and mobile
There is global consensus that the year ahead will be challenging, but emerging trends have suggested bright spots for gaming businesses.

Long-duration energy storage: Key driver for region’s net-zero goals
Individuals and companies are becoming more empowered to join the net zero fight as sophisticated energy storage solutions become increasingly accessible.

Is data latency the new currency in town?
Employing a distributed infrastructure with various providers and redundant pathways ensures resilience for critical applications and data.

How Alternō’s vision is changing the energy landscape with sand batteries
Alternō’s innovative sand battery technology is shaping the green energy sector, contributing to a more sustainable future.

Is India on the verge of shifting gears to EVs?
To emerge as a leader in the global space for electric vehicles, India should chart a plan to manufacture every sub-system required by EVs.

Climate conferences won’t save us: How to start taking action all year round
This article explores how any business can reduce its own emissions while accelerating the transitions of companies around them.

Thinking out loud: Are electric vehicles as sustainable as we believe?
It seems likely that automotive OEMs will continue to develop batteries with hybrid models instead of a full transition to EVs.

Empowering the future of Singapore: The need for SMEs to embrace renewable energy solutions
The adoption of renewable energy solutions is fast becoming a necessity rather than a choice for SMEs and bigger enterprises within Singapore.

Why agritech startups will call for the next e-commerce revolution
Innovation via technology and digitalisation are seen as pragmatic solutions to help address some of the greatest challenges facing the global food system.

How to build a strong farmer engagement model for your agri e-commerce startup
Agri e-commerce is still in infancy in Southeast Asia. What should SMEs keep in mind while engaging the farmers to adopt the online platform.

Why offshoring your data parsing processes could be your legal tech startup’s secret weapon
Legal tech companies often deal with unstructured documents, where the essential data points do not adhere to a predefined data model.

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Disrupt Health Impact Fund, a Thailand-based venture capital fund focused on healthcare innovation, has announced its first investment in DiaMonTech, a German deeptech startup specializing in non-invasive glucose monitoring.

The fund will provide DiaMonTech connections with healthcare experts in the public and private sectors across Southeast Asia and facilitate its entry into the region. It will also accelerate the startup’s ability to reach a wider audience and make its technology accessible to more needy people.

Thorsten Lubinski, co-founder and CEO of DiaMonTech, said: “This support will enable expansion and connection to meaningful opportunities that positively impact people living with diabetes and those monitoring their blood sugar for preventive healthcare throughout Southeast Asia, including Thailand.”

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DiaMonTech has developed technology that measures blood glucose levels without the need for painful finger pricking. This empowers individuals to take control of their diabetes management and make more informed decisions about their health.

Its non-invasive approach offers a “significant advantage” over traditional blood glucose monitoring methods, which require frequent finger pricking and can be inconvenient and painful for patients.

The device uses a spectroscopic method to measure glucose levels through the skin, providing a reading in just 30 seconds.

The technology could also be used for preventive healthcare, enabling early detection of prediabetes and potentially delaying or preventing the onset of type 2 diabetes.

The investment in DiaMonTech aligns with Disrupt Health Impact Fund’s focus on investing in five key areas: Self-care, preventive care, silver age, holistic wellness, and Smart Hospital.

The post Disrupt Health invests in DiaMonTech’s non-invasive glucose monitoring tech appeared first on e27.