Family businesses are a dime a dozen but couple-run companies are rather uncommon, as most people do not encourage working with a spouse for fear of ruining the relationship. Yet, some have discovered that their life partners are the best co-workers they could possibly have.

My partner, Dason Goh and I are married for 13 years, and we are also co-founders of Detrack, a logistics tech startup that created Singapore’s leading delivery tracking Software-as-a-Service platform.

Dason and I founded the company when we discovered a lack of visibility in last-mile deliveries, could not find a suitable solution in the market, then decided to take it upon ourselves to create the technology from scratch.

Our journey to success has been anything but easy. As with any coworker or colleague within the same department, we faced numerous challenges and obstacles and did not always see eye to eye on all matters.

It was through open and honest communication that we built rapport with each other, nurturing and sustaining a healthy working and romantic relationship, allowing them to successfully scale their business into its present-day achievements.

How did we manage and balance our professional and personal lives? We would like to share five important tips on running a business together as a power couple.

Align expectations

Not all couples enter a business together on the same footing. Oftentimes, one individual may be more involved or committed to the mission than the other. Each person also has their own barometer of what the company means to them, how their careers might pan out, as well as how their respective roles and responsibilities could impact their lives in general.

Also Read: 5 pitfalls to avoid if you are starting a business for the first time

We highlighted potential tensions in a relationship that might surface in the early stages of a startup, including making considerable lifestyle changes and drastic measures taken to stay afloat.

During these situations when certain sacrifices have to be made, there may be some conditions where the other party might be unwilling to budge. These situations are unavoidable but can still be resolved by establishing and aligning expectations at the onset.

It is imperative to do so as being on the same page allows couples to have a common understanding of what each person values and what they find essential to their lives.

Not only is there give-and-take involved, having a common understanding and setting some ground rules before starting a business can help build a strong foundation for the relationship, as there will be plenty of tough times to endure throughout the business lifetime.

Make decisions together

Decision-making is part and parcel of running a startup and can range from the minute daily decisions to major choices that impact every single aspect of the business.

When it comes to making decisions, we believe in doing so together. We kickstart every decision-making process as a team, having open and detailed discussions, laying out all concerns and differing opinions on the table, then looking at the issue at hand in an objective manner.

Respecting each other’s viewpoints is of utmost importance and communication is key. In doing so, we are able to avoid potential pitfalls and conflict and come to an agreement on the topic of discussion. Once we have made a decision together, regardless of the outcome, we would choose to move forward and work together to make better and more well-informed decisions.

Every joint decision they make strengthens their teamwork and increases their mutual trust in each other, qualities that are extremely important in the workplace, especially in a startup environment that is more volatile and uncertain.

Also Read: What I learn about starting a business from my Generation Z sister

Have a support system

The journey of a startup owner is one fraught with challenges, and these difficult times can last over the course of several years. It is at this initial make-or-break phase where business owners need emotional support from the people around them.

When both parties are in the business, not only do they need to support one another, they would also need support from their families, friends and extended social circles.

This can be as simple as relatives lending a hand to watch over the children, freeing up valuable time for the parents to focus on their work, or even as personal as families understanding that the couple may not be able to contribute to monthly allowances or afford luxuries that they would enjoy with a more regular and substantial paycheck.

We were fortunate to have the unwavering support and encouragement from their families and close friends. This support system which we have unintentionally grown and built over time continues to push them – slowly but surely – as we soldier on in their entrepreneurial endeavour.

Seek mentorship

While we have had some prior experience with entrepreneurship during our schooling years, nothing could prepare us for the real world obstacles that would come our way.

As much as there will be opportunities to learn from each other, we highly recommend seeking professional mentorship or speaking to experienced entrepreneurs about their learnings on starting a business from scratch.

Conversations we had with accomplished veterans in the industry were extremely beneficial in understanding the startup world, as well as dodging potential roadblocks and pitfalls that new business owners may not see coming a mile away.

Be open to investments and funding

We may have founded a bootstrap startup but we would choose a less onerous path if we could. Financially, it was a huge strain on us during the initial phases of the business journey, and this could have been circumvented through the raising of funds and leveraging of government schemes.

Partnering with investors could also be a key driving factor of a company’s development and growth, especially during the early stages of building a startup.

While the team will have to take on additional pressures and responsibilities of external interests and expectations, investors not only provide capital but also offer valuable resources such as their expertise and knowledge that can help scale a business rapidly and more efficiently.

Also Read: 4 steps to starting a business as a college or university student

Ultimately, it is important for couples to explore different financing options and make mindful business decisions in the best interests of the company.

Running a startup together is not for every couple but there are still merits to being partners in both professional and personal settings.

Though the business might seem to be the main priority for some of these couples, we continue to encourage them to nurture the relationship, communicate frequently and be open with each other, as ultimately the relationship between the two needs to flourish for the business to succeed.

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Voyager Innovations, the digital services arm of Philippine telco giant PLDT, announced today it has raised US$167 million in a new funding round for its fintech unit PayMaya.

Besides PLDT, its other existing shareholders such as KKR (from its Asia private equity fund) and Tencent also joined the round, along with new investor IFC Financial Institutions Growth Fund.

This investment includes US$121 million in fresh funding and US$46 million from previously committed funds.

The tech giant will use the fresh capital to expand PayMaya’s services, including mobile wallet, payments processing, and digital remittance businesses.

Also Read: PLDT’s digital services arm Voyager Innovations raises US$215M from Tencent, IFC, KKR

In 2018, Voyager had secured US$215 million in fresh funding from a host of international investors.

According to a press statement, PayMaya is also looking to enable more unbanked and underserved individuals and MSMEs with products such as credit, insurance, savings, and investments, through a soon-to-be-established digital bank. Towards this end, it has applied for a digital bank license with the Philippines’s central bank BSP.

Once granted a digital bank license by the BSP, the new entity will provide mobile-first, low-cost, round-the-clock, frictionless, branchless, ubiquitous, paperless, secure, and smart neo-banking services on the back of PayMaya’s proven technology platforms.

Orlando B. Vea, CEO and founder of Voyager and PayMaya said: “We have seen a quantum leap for digital payments adoption in the Philippines over the past year, and PayMaya has served as the nexus connecting consumers and enterprises with enriching digital finance experiences. This investment supports the unique value we bring and gives us a natural head start with the target market for the digital banking service.”

Shailesh Baidwan, Voyager and PayMaya President, said: “As we did with payments and remittances, we will enable the large masses of Filipinos to leapfrog into a new stage of financial inclusion through integrated digital financial services. Our goal is to continue making lives better for millions of underserved people and small businesses, with cutting edge solutions that are affordable and relevant.”

According to the company, PayMaya witnessed strong consumer adoption for its mobile wallet and remittance services amid the COVID-19 crisis. Total registered users for these consumer platforms doubled in just 18 months as of June 2021 to 38 million, or more than half of the adult population in the Philippines.

The firm has also set up more than 250,000 digital-finance access touchpoints, which it claims is 7x the number of the ATMs and bank branches in the Philippines. This expanded access is significant for an archipelagic nation where 33 per cent of cities and municipalities do not have any banking presence.

Additionally, PayMaya connects over 350 enabled merchants to retail consumers through its PayMaya Mall, an in-app feature.

Voyager further claimed that PayMaya’s enterprise business saw a four-fold increase in merchant acceptance points equipped with innovative payment solutions that accept credit, debit, and prepaid cards, as well as e-wallets, for both face-to-face and online transactions.

Aside from enabling the payment acceptance for the largest e-commerce, food, retail, and gas merchants in the Philippines, PayMaya equips over 70 national and social services agencies and local government units with digital payments and disbursement services.

Also Read: Voyager Innovations acquires SG-based e-commerce startup Paywhere

In January this year, PayMaya began expanding its digital financial services offerings with “sachet” loans for MSMEs through its lending arm, PayMaya Lending Corp., and health and device protection products with insurance partners.

PayMaya introduced its first lending product called Negosyo Advance last January among its 40,000-strong Smart Padala agent network, an extensive network for domestic remittance and adjacent financial services in the country. Smart Padala agents are typically microentrepreneurs in communities who need short-term working capital loans for their day-to-day businesses.

With insurance partners, PayMaya offers PayMaya Protect for health coverage, starting with COVID-19 and personal accidents. It also offers protection for mobile devices, with premiums that can cost less than Php1 (US$0.02) daily for cracked screens, water damage, and other incidents.

In the Philippines, only one in three Filipino adults has a formal bank account and has loans. Of those who have loans, only 3 per cent have borrowed from banks, and more than 77 per cent and 75 per cent of the population do not have insurance and investments, respectively.

The country’s central bank aims to digitalise 50 per cent of the total volume of retail payments and expand the financially included to 70 per cent of Filipino adults by 2023.

According to a Gulf News report, Philippines saw a 5,000 per cent spike in digital payments in the time of COVID-19.

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Image Credit: PayMaya

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Vietnamese investment app Infina announced today that it has received US$2 million in an oversubscribed seed round of financing from a slew of investors.

The list includes Saison Capital, Venturra Discovery, 1982 Ventures, 500 Startups, and Nextrans, besides unnamed executives at Google and Netflix, and other angel investors. 

With the new funding, Infina aims to fuel its growth and expand its product offerings.

Vietnam has been seeing a surge in the retail investing space since the pandemic. According to the Vietnam Securities Depository, 500,000 trading accounts were opened in the first five months of 2021, leading to a 20 per cent increase since 2020.  

While the majority of Vietnamese previously let their money sit in risk-free checking accounts or in long-term real estate, millennial investors are now shifting toward higher-yield asset categories with smaller required investments.

“To address that demand Infina is building the ‘Robinhood of Vietnam’ to make investment accessible, easy, and engaging for the country’s middle and lower classes,” Infina co-founder James Vuong said.

Also Read: Relationship managers go robo as wealth management embraces digitalisation

Launched early this year, Infina is owned by RealStake that helps people invest in real estate, stocks, and mutual funds starting from as low as US$25.

Infina current financial partners include Dragon Capital Vietnam, ACB Capital, Mirae Asset Fund Management, and Viet Capital Asset Management.  

“Retail investing in Vietnam is at an inflection point and we have seen multiple other emerging markets reach this break-out point. With an experienced team that is passionate about financial literacy and education, Infina is well-positioned to ride this wave of growth,” said Chris Sirise, Partner of Saison Capital.

“Vietnam is the most promising market in Southeast Asia for the next wave of retail investing. Infina is at the forefront of the retail investing revolution in Vietnam and has quickly become the most trusted brand with millennial investors. Their commitment and experience building online communities is the key differentiator that makes Infina special,” added Herston Powers, Managing Partner of 1982 Ventures.

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Image Credit:Infina

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Are you someone who is afraid of taking a leap into a more healthy lifestyle because of the apprehensions that it is going to take too many sacrifices? Or, are you someone who believes in global warming but is yet to muster the courage to make lifestyle changes?

Probably, an emerging breed of foodtech startups that intend to champion a healthy and ethical lifestyle could come to your ‘rescue’.

Globally, the plant-based foodtech industry is gaining momentum, especially after the onset of the COVID-19 pandemic. It has prompted many people to opt for vegetarianism/veganism to keep themselves away from possible zoonotic virus infections.

In Southeast Asia, Singapore is leading the plant-based food trend, followed by Thailand and the Philippines.

Countries such as Malaysia and Indonesia are a bit slower because the meat prices in these countries are very low and plant-based meats are still not competitively priced. It will take more time for industry players in these economies to consider switching to plant-based meats.

It is not just the meat industry that is undergoing a sea change but the dairy sector, too. Nowadays, plant-based/seed-based dairy products are the talk of the town.

Here we bring you a list of the seven notable foodtech startups championing innovation in vegan dairy in Southeast Asia. The information for this article was collected from e27‘s own database and other platforms, including Tracxn, Pitchbook, GreenQueen, Crunchbase, and LinkedIn.

Growthwell Group

A manufacturer of plant-based meat and seafood alternatives, Growthwell also produces alternatives to ice cream and milk using chickpeas. The technology it uses was developed by Israeli foodtech startup ChickP, in which it holds a significant stake.

Also Read: The spotlight on foodtech: Why we believe that what we put on our plate will determine the future

Ultimately, Growthwell aspires to expand the distribution of ChickP protein products across Asia.

Country of Origin: Singapore

Total funding: US$8 million

Investors: Temasek, DSG Partners, Insignia Ventures, Genesis Ventures, Brandify, Koh Boon Hwee (angel investor)

Kebbio

Kebbio is an organic cashew milk company that claims to use no preservatives, emulsifiers, and additives for its manufacturing.

The company believes that cashews make a good source of zinc (for immunity), vitamin E (skin and hair), heart-healthy fatty acids, protein, copper, magnesium (good for muscle repair and relaxation), and more, making its product extremely healthy.

What makes it unique is that it allows customers to trace back the origin of its products to where it came from, down to the name of the farmer who grew the particular produce. It sources its products from Isan, one of the poorest regions of Thailand.

Country of Origin: Thailand

Total funding: Undisclosed

Investors: Undisclosed

Snappea

Founded just last year, Snappea claims to have developed plant-based milk that is tastier than traditional milk.

According to the company, most plant-based milk are bland, watery, lack protein, and don’t have enough nutrients.

However, Snappea uses peas to create milk that is healthy, natural, and nutritious. Peas are one of the most sustainable food sources in the world that also emit 500 times less greenhouse gas emissions than beef.

The products are currently available in Malaysia, Singapore, and Brunei, and are sold in Jaya Grocer, Lazada, and Shopee.

Country of Origin: Malaysia

Total funding: Undisclosed

Investors: Undisclosed

Sesamilk

Sesamilk is an alternative to dairy milk and is extracted from premium-grade Thai sesame seeds, a rich source of fat. Unlike other plant-based milk, Sesamilk is extracted from natural seeds — no dairy, soy, or nuts.

Sesame seeds are a common ingredient in Asia and are often used in the form of sprinkles on buns and cooking oil. However, its nutrients are not absorbed by the human body in their entirety when used as oil or sprinkles.

Also Read: Why Sesamilk thinks plant-based milk is healthier than cow milk and has a bright future

“But when turned into a drink, sesame’s full nutrients can be absorbed by the human body. What is more remarkable is that sesame is believed to contain the cure for cancer,” says Sesamilk co-founder Siripen Suntornmonkongsri.

As of now, the product is available in 500 stores (online and offline) across Thailand and is also exported to countries like Japan, Macau, Hongkong, and Vietnam.

Country of Origin: Thailand

Total funding: Undisclosed

Investors: Undisclosed

Sophie’s Bionutrients

Here’s a company that challenges all the other plant-based food alternative companies.

Sophie’s Bionutrients utilises microalgae to make yogurt, cheese, and milk. This way, it has an added advantage over other plant-based dairy companies that use soy, almonds, and peas. It also claims to have no allergenicity and is suitable for people who are allergic to nuts and soy.

During its research process, the founders went over thousands of different strains of microalgae and finally found four strains of microalgae that could grow in dark fermentation tanks and were favorable to create dairy alternatives. It currently has patents for the technology behind its products.

Country of Origin: Singapore

Total funding: US$1 million +

Investors: Undisclosed

TurtleTree Labs

Co-founded in 2019 by Fengru Lin, Rabail Toor, and Max Rye, the startup claims to be the “world’s first cell-based milk company that utilises biotechnology to manufacture milk products without any animal needed.”

The founders also said that they “have been able to replicate the exact full composition of dairy milk”, which erases the concerns of sticking to dairy products due to their high protein content.

In addition to milk and milk-based products, the company plans to apply its methods into recreating human breast milk, targeting to disrupt the infant milk formula industry that is currently valued at nearly US$45 billion.

Country of Origin: Singapore

Total funding: US$9.4 million

Investors: KBW Ventures, Lever VC, K2 Global

WhatIF Foods

A sustainable food brand, launched by NamZ, WhatIF Foods has developed a plant-based milk line that was launched early this year.

The milk is made from Bambara groundnut, a climate-resilient crop that can grow in harsh environments while also regenerating the land it is planted in. The other reason for using Bambara is due to its micronutrient-dense nature which can match the protein content of a dairy.

Also Read: Conscious consumption is driving the trend in foodtech: Study

The company told GreenQueen that it will deliver a “more dairy, nuttier, or greener” and an “extremely creamy” taste that rivals conventional dairy products.

Country of Origin: Singapore

Total funding: US$9.4 million

Investors: KBW Ventures, Lever VC, K2 Global

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As inflation and the cost of goods rise in countries such as Indonesia, the Philippines and India, investors are looking for new avenues to put their money to use.

As emerging market economies face a higher rate of inflation due to quantitative easing and increase in spending from the government with central banks and governments have pumped US$25 trillion into economies, the flow of money has raised concerns worldwide regarding the rising inflation.

With inflation rising steadily, it is getting difficult for investors to earn a yield on municipal bonds, securities or deposit certificates as the rising inflation leads to negative yield for investors.

However, yield farming, a new phenomenon in the blockchain industry, provides institutional investors with a new avenue to allocate resources.

Why institutional investors are exploring yield farming

Yield farming, also known as liquidity mining, is a method of earning money from digital assets by providing liquidity to a software protocol. In some ways, yield farming and staking are similar. However, there is a great deal of intricacy going on behind the scenes. It frequently collaborates with liquidity providers (LPs), who provide funds to liquidity pools.

Liquidity pools are essentially a smart contract with funds. LPs are compensated for supplying liquidity to the pool. This incentive might come from the underlying DeFi platform’s fees or another source. Some liquidity pools payout in a variety of coins.

These reward tokens can then be put into other liquidity pools to receive more prizes, and so on. You can see how highly complicated methods might evolve very fast in a decentralised environment. However, the essential concept is that a liquidity provider puts cash into a liquidity pool in exchange for incentives.

Yield farming is mainly done on Ethereum with ERC-20 tokens, and the rewards are generally also ERC-20 tokens. Cross-chain bridges and other such improvements, on the other hand, may one day allow DeFi apps to be blockchain agnostic.

Also Read: How Sustenir Group makes sustainable farming possible in the island nation

As a result, they might run on other blockchains that enable smart contract functionality.

To get high yields, yield farmers would often shift their finances around a lot between different techniques. As a result, DeFi platforms may provide additional financial incentives to attract more money to their platform.

Liquidity tends to attract additional liquidity, and therefore investors are exploring yield farming as an alternative to corporate bonds, securities and fixed deposits provided by banks.

How blockchain startups are disrupting the field of finance

Blockchain startups such as Impulseven are disrupting the field of finance by building a complete decentralised finance ecosystem that offers a range of features such as yield farming, lending, staking, trading all in one interface.

The organisation’s goal is to make DeFi technologies accessible to everyone by creating a platform with the highest level of transparency, reliability, and efficiency.

It is based on the Ethereum network and uses the ERC-20 Impulseven token to function. The protocol also facilitates money transactions by removing the need for expensive market intermediaries and third-party facilitators.

While banks are still vital, the expanding use of cryptocurrency, together with its underlying blockchain and smart contracts, gives users the ability to perform trustless transactions, making old methods an option rather than a forced choice.

DeFi systems like Impulseven embody the advantages of blockchain and shared ledger technology.

Consequently, trustless solutions are becoming more popular for completing even the most complex transactions without the necessity of intermediaries or the risk of being held hostage by a third-party organisation.

The risks of using a third party in transactions are not limited to traditional finance; in the crypto business, decentralised marketplaces and trading networks have grown significantly in Asia.

Also Read: How blockchain-powered fintech services can improve financial inclusion

We will see more institutional investors exploring yield farming protocols as an alternative source of asset allocation in 2021 as the risk of inflation takes over the Asian market as central banks and the government try to stabilise the economies.

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Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. This season we are seeking op-eds, analysis and articles on food tech and sustainability. Share your opinion and earn a byline by submitting a post.

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It is exciting to see more and more people dabbling in angel investing these days. The initial seed funding that you get from an angel could make all the difference so that you can get your idea off the ground.

With more and more news covering startups around the world, professionals like doctors, engineers, and lawyers can be found asking questions to founders seeking fundings during the monthly pitching sessions hosted by angel investment clubs.

They are seeking to invest their hard-earned savings in your venture in hope of cashing out if your company ends up being a future unicorn. But there are a number of trade-offs you must consider before taking an angel investor’s money.

Pro: Higher risk tolerance

An angel is usually an established entrepreneur or a professional that has the necessary risk appetite to put in cash in a new venture.

They know that investing in an early stage venture is highly risky so many of them invest with a mindset that not all of their investment will turn out a winner. But, what’s the catch?

Con: An angel may have higher expectations

The downside of an angel’s higher tolerance for risk also means that they may expect a lot more from you. Like venture capitals, angels are also investing to earn significant returns, either when your company is sold or listed on a stock market in an initial public offering. What does this mean then?

If there is a huge amount of capital invested, angels may want to see an “exit” or  “payoff” down the line. As a founder, you will be under constant pressure to generate growth for your startup.

Also Read: How do angel investors source opportunities?

To mitigate this, sit down with the potential angel and have an honest chat with him or her so that you are both aligned in terms of expectations.

Unfortunately, many first time entrepreneurs get too excited when an angel wants to give them money. So they may end up taking the cash without considering other non-financial reasons that may be attached to the investment.

Pro: Investment is not a loan

When you are just starting out, you may be bootstrapping with your limited savings. A founder may even take up a personal loan from the bank to finance your initial business journey. The bank will expect you to repay the loan whether or not you’d end up successful in your new venture.

But what if it’s an angel?

An angel investor usually approaches an investment with a different mindset. They’ll offer you the cash to get your venture started. In exchange for the cash invested, they’ll get a piece of ownership in your company by owning shares as an equity interest.

If your business takes off, then you both will get financial rewards. If your company goes bust, an angel investor won’t expect you to refund the capital invested. But, what’s the downside?

Con: Equity is expensive

Equity is the most expensive form of financing.

Getting money into your company by selling equity (eg, shares) is the most expensive of finance in the long run especially if you are a new business.

Also Read: Hey angel investors and startups, here are legal templates you can use

Let’s say you’ve agreed to give away 10 per cent of the equity in your company to an angel in return for an investment, you’ve given away a portion of your future net earnings which is also your ownership.

The percentage of the stake that the angel gets usually depends on how much they are putting in your company.

When it comes to giving out equity, you should sit down carefully and understand the implications of giving away equity to an investor.

If you get an offer from an angel, sit down and carefully understand the equity and percentage that you are giving away to such an angel so that it won’t eat up your own chances of getting a good exit down the line.

Pro: Increase chances of success

An angel may have some domain expertise in a technical or professional area. Startups backed by angels tend to remain in business longer and have better exit potentials with better growth prospects.

An angel can serve dual functions. First, a valuable capital provider c to run your business.

Secondly, an angel can also value in terms of giving you strategic advice and business development like opening doors to future customers, clients and other investors in his network.

Con: You may not be in control

Unlike a venture capitalist that usually invests other people’s money, an angel invests his hard-earned cash in your venture. To manage his downside risks, he may have a strong interest in how his money is used by your company.

In other words, if you’re hoping that the angel will take a passive approach after investing in your company, you may be disappointed. Chances are an angel may want to play an active role in the decision-making process (eg: business directions and strategies, deciding on key hires, pricing models).

Even if you may have control over the board, the angel may need you to give detailed disclosures and reasonings behind your decisions through an onerous reporting regime.

So before you want to accept an angel’s money, have an upfront discussion with him so that you are on the same page as to what role he wants to play in your business and how it should be run.

Get a good startup lawyer to draft a shareholders agreement so that it is “watertight” covering the angel’s rights and obligations in the company.

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Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. This season we are seeking op-eds, analysis and articles on food tech and sustainability. Share your opinion and earn a byline by submitting a post.

Join our e27 Telegram group, FB community or like the e27 Facebook page

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Karl Shallowhorn helps people with substance abuse and addiction problems.

Today, we talked about how stress from entrepreneurship may make some people more prone to developing addictions.

– Sean reveals his own secret
– How to identify if an indulgence has become an addiction
– How to ask for help
– How to avoid getting addicted
– How to develop a support network
– How to talk to someone you believe may be addicted

If you don’t see the player above, click on the link below to listen directly!

Acast

Apple

Spotify

Stitcher

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This article was first published on We Live To Build.

Image Credit: Michal Czyz on Unsplash

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Paragon Pictures on Tuesday announced that it has raised undisclosed Pre-Series A funding from SALT Ventures and Inter Studio. The production house is known to be under the umbrella company of Ideosource Entertainment, a subsidiary of NFC Indonesia and M Cash, who also happens to be its existing investor.

The additional funding will be used to produce several new Intellectual Properties (IP) in various formats, including live streaming content on Gojek’s GoPlay platform, children animation, series for OTT platforms, and feature films.

“Our vision is to produce local content in various formats with a unique, fresh perspective for local and international audiences,” said Paragon Pictures CEO Robert Ronny.

The company has previously produced content such as Losmen Bu Broto, Backstage, Ini Budi animation series, to JKT 48 live streaming content on GoPlay.

Managing Partner SALT Ventures Andika Sutoro Putra described the Indonesian film industry as a “pent-up demand industry”, meaning that consumer demand for Indonesian filmmakers will skyrocket following the end of the pandemic.

Also Read: Today’s top tech news, Aug 30: M Cash subsidiary to invest in movie production company

Kevin Sanjoto, Partner at Inter Studio, said, “In my opinion, from the perspective of geography, politics, and culture, Indonesia is a big and unique market with a wide array of local wisdom in each of its regions… From this unique setup, [we can see that] there remains a great opportunity for the Indonesian content ecosystem to grow extensively.”

Intern Studio Group itself is a production house with more than 50 years of history in the country.

Ideosource Entertainment CEO Andi S. Boediman said that this investment will open more collaboration opportunities with Inter Studio in developing new films based on the IP assets owned by the company.

Since 2018, Ideosource Entertainment has been involved in investing in various local film productions such as Keluarga Cemara, Gundala, Sobat Ambyar, dan Bebas. They have also invested in various digital platforms such as GoPlay and Cinepoint.

Previously, Visinema was an example of Indonesian production house that has raised funding from a venture capital firm. In a Series A funding round led by Intudo Ventures, the company managed to secure IDR45.5 billion (US$3 million).

IDN Media had also founded IDN Pictures by acquiring Demi Istri Production.

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The article Paragon Pictures Umumkan Pendanaan Pra-Seri A dari SALT Ventures dan Inter Studio was written by Randi Eka Yonida in Bahasa Indonesia for DailySocial. English translation and editing by e27.

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The Founder on Founder Podcast series is a weekly podcast hosted by Olivier Raussin, Managing Partner at FEBE Ventures, an early stage Venture Capital fund supporting outstanding entrepreneurs in Vietnam and Southeast Asia. It features tech entrepreneurs with a focus on Southeast Asia’s innovation business and tech landscape.

Featured in this episode is Julian Artopé, founder of Zenyum, a Singaporean startup with the mission to make cosmetic dentistry more affordable.

Founded in 2018, the startup partners with hundreds of dentists to provide 3D-printed Invisible Braces across seven markets in Asia, produced under the highest quality standards.

Zenyum has recently raised a US$40 million Series B round from co-investors including L Catterton, a private equity firm focused on consumer brands.

Originally from Germany, Artopé has been working in startups all of his life and made it a mission to learn from great founders.

Also Read: Dental startup Zenyum secures US$13.6M in Series A funding, making personalised dental products accessible

He has spent four years in the UK with a digital payment startup Skrill (Moneybookers), and another four years in Africa where he learned to love emerging markets. Then he did his MBA in Singapore with INSEAD which later led him to found Zenyum.

Artopé said: “We wanted to solve a very large problem. So we have a very large market and wanted to do a consumer business. So in a perfect world, have something where I have a product that I can ship to consumers. B2B SAAS just for me personally, emotionally is not fulfilling enough. We want to build something where we can own an entire category potentially, and build a category-defining company.”

“I had a very interesting dinner with a friend of mine who incidentally at that point, just finished his training and his education as an orthodontist. He was mentioning that he is a little bit upset because he just put 13 years of his education into a profession that more and more sees evolution from 3D printers.”

“So the skill set that he is learning is being more and more automated. I found that very fascinating because nowadays you don’t often find an industry that is being disrupted with that kind of speed that you see in orthodontics and where you have a product with invisible braces, which is Zenyum’s flagship product”.

Expanding across Southeast Asia

Orthodontics as a category is very established in markets like Europe and in the US but is still nascent in Southeast Asia. Thus, Zenyum seeks the opportunity to establish a synonym through working with hundreds of dentists across seven markets and distributing their products with the mission to spread smiles across Asia.

He said: “We knew from day one that we wanted to be an Asian company with a special focus on Southeast Asia. The reason we launched initially in Singapore is that regulation is actually the toughest but at the same time, speaking to regulators is very fast. So getting the initial product off the ground with the right level of quality went the quickest here in Singapore. Once we had the product-market fit here, that’s when we started our expansion across Southeast Asia.”

Today, Zenyum is operating in seven markets including Singapore, Malaysia, Vietnam, Hong Kong, Thailand, Indonesia, and Taiwan.

Building Zenyum’s company culture and recruitment process

Zenyum strives towards building a workplace where people want to enjoy coming to work every single day. Much of their values would include speed, grit, curiosity, candour, and lightheartedness.

Also Read: Ecosystem Roundup: SEA’s new Unicorn + food waste management startups

With the COVID-19 pandemic where there were a lot of uncertainty and communication barriers, Zenyum decided to rather “dial-up” their culture to keep it more alive.

“So be very proud of the values that we have, be proud of the achievements that we have and make sure that for the people that are aligned with us, we are building the best possible place,” said Artopé.

Through their company culture, team mission and working environment, Zenyum is constantly attracting great talents and currently having more than 200 employees across all of its office locations.

When asked about the recruitment process and hiring decisions, Artopé shared:

“Change is dramatically based on the stage and size of the company you’re in. In the beginning, just be humble and happy for any talent that speaks with you. When the company grew and when we had our product-market fit and were able to attract more talent, we started hiring a lot for culture. As the company grows you can also hire for skill fit. The balance is important for skill and culture.”

On their latest fundraising milestone with L Catterton and other co-investors, Artopé said:

“The way we initially structured the company, we always try to think two or three rounds ahead in terms of the investors we want to get on board. We knew we needed to build the product-market fit to attract some of the tier one investors in the region and identify the ones we see as a big fit and whether we could imagine working together.”

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Image Credit: Zenyum

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Funding and acquisition news in the startup ecosystem always manage to attract the attention of both the media and industry players.

There are many reasons behind this fascination. First, it helps the ecosystem to indicate trends in the market as reflected through investors’ appetite. Second, it is also a way to show, of all the existing startups in the ecosystem today, which one is able to gain investors’ trust and secure the funding to help them move forward?

When the e27 team was curating the companies for the Funding and Acquisition category on e27 Luminaries, the ticket size was not the only consideration that we made. We also look at other factors such as the country where the startup originates from or the potential of the startup to tackle some of the greatest challenges of our time.

Here are some of the highlights from the companies in the list:

Doctor Anywhere

Right at the beginning of the pandemic, in March 2020, Doctor Anywhere announced a US$27 million Series B funding round led by Square Peg. The funding round followed the company’s expansion into Thailand.

In a contributed post to e27, the company explains how they tackle some of the unique challenges brought by the pandemic for a healthtech startup such as them.

“The COVID-19 pandemic continues to challenge us to be more agile and adaptable in our operations while keeping our users at the heart of what we do. What has been key to our efforts is the selflessness of our team, who step in to cover for each other whenever we need an extra pair of hands,” Tang Rei En writes.

For e27 Luminaries, the company nominated Dr Yang Guirong, Assistant Medical Director, for leading the company’s effort to tackle COVID-19 impact.

Also Read: These e27 Luminaries are taking the Indonesian startup scene to greater heights

Expedock

At the beginning of 2021, Philippine-based Expedock announced that it raised a US$4 million seed funding round. This investment also included a US$2.5 million investment by Ali Partovi, who had previously backed the likes of Airbnb, Dropbox and Facebook.

Supply chain and logistics continue to become a promising vertical in the SEA region. In addition to attracting high profile investors, this funding round was also notable in terms of ticket size and stage. It allowed us to feel more optimistic about the future of the Philippines as the next popular destination for investors.

Expedock nominated Chief Product Officer Jig Young for developing a product that gained the attention of investors and users.

GudangAda

In May 2020, Jakarta-based GudangAda announced a massive US$25.4 million Series A led by Sequoia India and Alpha JWC –soon after raising a seed funding round in the same year. This brought the total investments that it has raised to US$35 million.

In an interview with e27, Founder and CEO Stevensang stated that the company was looking to raise a Series B funding round.

For e27 Luminaries, the company nominated Andre Widjaja, Chief of Business Development, for building the sales and BD team and preparing it for expansion.

Koinworks

In the middle of 2020, Indonesia-based KoinWorks secured a US$10 million funding round from Lendable to help local SMEs raise funds online.

The company also claimed that it has hit probability as it secured 100,000 SMEs as early adopters of its NEO products.

It nominated CMO Jonathan Bryan for his success in maintain brand position amidst a challenging time.

Lomotif

Earlier this year, global media and entertainment company ZASH announced the acquisition of 80 per cent stake in Singapore-based video-sharing platform Lomotif.

In a statement, ZASH said it believes that Lomotif is one of the fastest-growing video-sharing platforms in Latin America, Asia, Europe and West Africa, and its acquisition can put ZASH at the top surpassing TikTok and Kuaishou.

For e27 Luminaries, the company nominated Gene Tan, VP, Products & Markets, for leading the company’s expansion and product development.

Also Read: Despite the pandemic, these e27 Luminaries successfully spread their wings into new markets

Moovaz

In 2020, not only that Moovaz managed to secure a US$7 million Series A funding round led by Quest Ventures, the company also announced two acquisitions of companies in various verticals.

In June, it acquired SPH’s expat community media platform The Finder to build its digital community, followed by another acquisition of GetVan in September.

The company named Ming Hui Lee, Head of Operations, for ensuring smooth operations of the company during COVID-19.

Propseller

In October 2020, Singapore-based proptech startup Propseller announced a US$1.2 million seed funding round from a list of investors that include Iterative, Hustle Fund, XA Network, Rapzo Capital, Stein Jakob (Lazada co-founder and former CMO/CFO), Ben Neve (Dot Property Founder), three undisclosed “highly strategic investors”, and existing private investors.

The pandemic has been an interesting moment for startups in the property sector as it provided unique opportunities to combine the offline and online world to meet customers’ need for a safe way to view and acquire properties.

For e27 Luminaries, Propseller nominated Alexandre Wallemacq, Operations Manager, for ensuring smooth operations for the company during COVID-19.

Shiok Meats

Alt food startups are having a moment in 2021, but we have seen the momentum growing since 2020. In September, the Singapore-based startup announced a US$12.6 million Series A funding round to bring its cruelty-free shrimp products to the market.

The company nominated COO Durgalakshmi Sathiakumar for building a resilient team to enable growth and survival throughout COVID-19.

Transcelestial

In July 2020, space tech startup Transcelestial raised US$6.9 million in funding co-led by EDBI and Wavemaker Partners. Also joined the round are Airbus Ventures, the VC arm of Airbus; Cap Vista, the strategic investment arm of the Defence Science and Technology Agency of Singapore; Partech; and Tekton Ventures.

The funding round was followed by a US$2 million funding from Ayala-backed Kickstart Ventures.

For e27 Luminaries, the company nominated Kelvin YEO, SVP & CTO, for doing an “amazing job” in leading the team for the launch of the CENTAURI

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The e27 Luminaries is an initiative by e27 to celebrate the unsung heroes of the SEA startup ecosystem. Discover these notable companies and individuals here.

Image Credit: Matthew Osborn on Unsplash

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