As startups disrupt Southeast Asia’s legacy business models, the region’s legal profession undergoes its soul-searching mission over how its service is delivered and how to attract and retain top talent. 

Last year, Southeast Asia’s startup ecosystem saw a record US$25 billion investment. Today, the region’s digital companies alone are worth around US$340 billion, a number that is expected to grow to US$1 trillion by 2025.

With companies and startups around the region riding on the digital wave, almost every industry has experienced some form of digital disruption and upheaval of traditional commercial models.

Yet, until recent years, one sector has remained absent from this revolution: law.

However, thanks to the flourishing startup ecosystem and the demands of startups and their founders, that is starting to change.

For the uninitiated, legal technology, known as legaltech, is the convergence of legal services and technology designed to improve legal services (typically centring around making lawyers’ costly manual processes cheaper and more efficient).

Legaltech emerged to provide technology solutions and innovations to law firms, and while the first case management tools emerged as far back as the 1980s, the industry has been slow to adopt them.  

Despite the plethora of very interesting use cases for the legal profession, including automating the creation of legal documents, special tools to help in discovery (the process of sifting through large volumes of evidence during litigation), due diligence and many more, the adoption of such tools within the legal industry has been slow-moving.

Also Read: Legaltech on blockchain is the next hot investment sector. Here’s why

However, the legal profession might not be able to drag its heels as the explosion of startups seeking legal services with more cost transparency, flexibility and efficiency have seen legaltech pivot towards the end-users needs.

Startups, especially those in the early stages, tend to be cautious in resourcing. Everything from getting their business up and running to securing investment costs money they would have traditionally spent with law firms but often can not spare. 

This problem is at the heart of legaltech solutions that aim to service startups and small businesses by removing the need to engage lawyers. Many new and cutting edge startups, especially high-growth technology companies, will also be looking for digitally-enabled solutions to power their backend, including their legal.

In the last few years, legaltech companies have emerged that aim to serve the end-users rather than law firms (sometimes referred to as lawtech). Leveraging technology, these companies can aid early-to-mid stage startups by automating paperwork, speeding up research and drawing up smart contracts. 

Early-stage startups benefit from having access to automated legal docs to help them start, raise and grow. Platforms like SeedLegals allow startups and investors to generate employment agreements, and NDAs raise traditional funding rounds or agile fundraising between rounds and even incentivise teams through option schemes. 

The idea is not to put lawyers out of work but rather to give startups an alternative option when they’re at the earliest stages so they don’t have to spend money they don’t have on bloated legal services.

Startups these days are also nimble, agile and global, so having a fully digital solution such as SeedLegals means they can continue to move just as quickly and efficiently when it comes to their legal.    

Also Read: How to protect your early stage startup from unnecessary legal hassles

In 2021, the legaltech industry drew in more than US$1 billion in funding through 85 funding rounds. Regionally, Singapore and Hong Kong are showing high demand for legaltech, while industry innovation continues to sweep the wider Asia Pacific market. Amid this rise in customer and investor demand, the eyes of talented legal professionals are quickly taking notice.

A new alternative

Last year, 538 burnt-out, disillusioned lawyers in Singapore left the profession for good, citing overwork and toxic behaviour. Despite being one of the most coveted professions, the legal industry suffers from a talent churn.

Every year, Southeast Asia’s law firms and in-house legal teams draw a healthy supply of new entrants, but they need to retain talent has become ever-pressing.

The startup ecosystem presents an increasingly appealing route for lawyers rethinking their traditional career journeys. Of all traditional sectors, the law has been one of the slowest to transform and adapt itself.

The result is smart, educated, well-trained lawyers are leaving the profession entirely in search of more “commercial” roles that offer different types of opportunities. Many have opted to move into product management, business development, strategy and pure technology roles that allow them to leverage the skills they built through traditional legal practice. 

Although moving towards commercial roles isn’t a new phenomenon, nine per cent of global CEOs have a legal background; there are signs the golden handcuffs that law firms once commanded over their lawyers are not quite so golden in the new world we operate in.

For lawyers seeking to bridge the gap between their pedigree and technology, legaltech offers a new world of possibilities powered by digital disruption. Digitally-savvy law students, in particular, are most primed to seek career paths outside traditional legal practice and reshape the industry for years to come.

Armed with legal training and technological understanding, this new wave of lawyers is positioned to drive the growth of the Southeast Asian ecosystem. They are the ones to offer founders and entrepreneurs a seamless way to understand the legal obligations required for their fundraising goals. 

Once relegated to back-office support services, legaltech is now entwined with Southeast Asia’s digital revolution. The rise of legaltech is a win-win for both startups and law firms. As legaltech continues to accelerate, both the ecosystem and the legal industry can transform, thrive, and benefit each other.

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This article was first published on April 6, 2022

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Exchange-traded funds (ETFs) have revolutionised the investment landscape, offering a versatile and cost-effective way for individuals and institutions to gain exposure to a wide range of assets. As financial markets evolve, the emergence of crypto ETFs has introduced a new dimension to this investment vehicle, providing regulated access to the volatile and rapidly growing world of cryptocurrencies.

This article outlines the key features of ETFs and crypto ETFs, their advantages, and the potential risks investors should consider.

What is an ETF?

An ETF is an investment fund that holds a collection of assets such as stocks, bonds, commodities, or other securities. Like individual stocks, ETFs are traded on stock exchanges, allowing investors to buy or sell shares throughout the trading day at market prices. ETFs offer several advantages, including diversification, liquidity, lower fees, and tax efficiency, making them an attractive option for both retail and institutional investors.

Key features of ETFs

• Diversification: ETFs typically hold a broad basket of assets, allowing investors to spread risk across various sectors or asset classes. This reduces exposure to the volatility of any single investment.
• Liquidity: Traded on exchanges, ETFs provide greater liquidity compared to mutual funds, which can only be traded at the end of the day. This makes it easy for investors to enter or exit positions during market hours.
• Low fees: Most ETFs have lower expense ratios than mutual funds due to their passive management, often tracking a specific index (e.g., S&P 500).
• Tax efficiency: ETFs offer greater tax efficiency compared to mutual funds by deferring capital gains taxes due to their unique structure.
• Transparency: Many ETFs disclose their holdings daily, giving investors full visibility into what they own.
• Variety: Investors can choose from a wide range of ETFs, including those that track indexes (like the S&P 500), sectors (technology, healthcare), commodities (gold, oil), bonds, international markets, and even specific themes such as ESG (Environmental, Social, and Governance).

Types of ETFs

• Stock ETFs: Track a basket of stocks or specific indexes.
• Bond ETFs: Invest in various types of bonds, such as government or corporate bonds.
• Commodity ETFs: Hold physical commodities like gold or oil.
• Sector/Industry ETFs: Focus on specific industries such as technology or healthcare.
• International ETFs: Provide exposure to foreign markets.
• Thematic ETFs: Invest in companies based on themes such as clean energy or blockchain.

Introduction to crypto ETFs

As the cryptocurrency market continues to gain prominence, crypto ETFs have emerged as a way for investors to gain exposure to digital assets like Bitcoin and Ethereum without directly owning or managing these volatile and complex instruments. Crypto ETFs blend the structure of traditional ETFs with the unique characteristics of cryptocurrencies, providing a regulated and accessible way to invest in the crypto space.

Also Read: Asset classes demystified: Building a strong, diversified portfolio in today’s financial markets

Key features of crypto ETFs

• Diversification: Crypto ETFs can offer exposure to a single cryptocurrency, such as Bitcoin, or a diversified portfolio of multiple digital assets. This diversification helps spread the risk associated with the volatile nature of cryptocurrencies.
• Liquidity: Like traditional ETFs, crypto ETFs are traded on stock exchanges, providing liquidity throughout the trading day. Investors can easily buy or sell shares, similar to trading traditional stocks or ETFs.
• Accessibility: Investors can gain exposure to cryptocurrencies using their existing brokerage accounts, eliminating the need for digital wallets or direct interaction with cryptocurrency exchanges.
• Regulation and security: Crypto ETFs operate under regulatory oversight, providing an added layer of security and transparency compared to direct cryptocurrency investments.
• Professional management: These ETFs are typically managed by financial professionals, who handle the complexities and risks associated with the cryptocurrency market.

Types of crypto ETFs

• Spot crypto ETFs: These ETFs directly hold the underlying cryptocurrency. For example, a Bitcoin Spot ETF holds actual Bitcoin in its portfolio.
• Futures-based crypto ETFs: These ETFs invest in cryptocurrency futures contracts rather than holding the underlying digital asset. Futures-based ETFs introduce additional complexities, including potential discrepancies in performance.
• Thematic crypto ETFs: These ETFs focus on specific themes within the cryptocurrency space, such as decentralised finance (DeFi), blockchain technology, or NFTs (Non-Fungible Tokens).
• Index-based crypto ETFs: Track a cryptocurrency index, which may include multiple digital assets based on criteria like market capitalisation.

Advantages of crypto ETFs

• Ease of access: Investors can gain exposure to the cryptocurrency market without the need for digital wallets or navigating crypto exchanges.
• Regulatory oversight: As regulated financial products, crypto ETFs offer a sense of security and legitimacy compared to unregulated crypto investments.
• Tax efficiency: In some jurisdictions, crypto ETFs may provide more favorable tax treatment compared to directly holding cryptocurrencies.
• Liquidity: Crypto ETFs can be traded like any other stock or ETF, providing flexibility for investors.

Also Read:  How to scale voluntary carbon markets with DeFi and Web3

Risks and considerations

• Volatility: Cryptocurrencies are known for their extreme price swings, which can lead to significant fluctuations in the value of crypto ETFs.
• Regulatory risks: The evolving regulatory landscape surrounding cryptocurrencies poses risks for crypto ETFs, as changes in laws and regulations can impact their operation.
• Management fees: While typically lower than mutual funds, crypto ETFs may carry higher fees due to the complexities of managing crypto assets.
• Tracking errors: Futures-based crypto ETFs, in particular, may experience discrepancies between the ETF’s performance and the actual performance of the underlying cryptocurrency.
• Security risks: Although ETFs mitigate some security risks by managing custody of the digital assets, cryptocurrencies remain susceptible to hacks and cyber-attacks.

Current status and notable crypto ETFs

As of late 2023, crypto ETFs have gained traction in regions with favourable regulatory environments, such as Canada and Europe. In the United States, the approval of Bitcoin and Ethereum ETFs remains a topic of ongoing regulatory discussion.

Notable examples

• Purpose Bitcoin ETF (BTCC): Launched in Canada, this ETF directly holds Bitcoin and is traded on the Toronto Stock Exchange.
• Grayscale Bitcoin Trust (GBTC): While not an ETF, GBTC functions similarly by offering Bitcoin exposure and is traded over-the-counter (OTC).
• VanEck Bitcoin Strategy ETF (XBTF): A futures-based Bitcoin ETF available in the U.S., focusing on Bitcoin futures contracts rather than holding Bitcoin directly.

How to invest in crypto ETFs

• Open a brokerage account: Investors need a brokerage account that offers access to crypto ETFs.
• Conduct research: Evaluate the specific crypto ETF, including its structure, fees, and underlying assets.
• Assess investment goals and risk: Given the volatility of cryptocurrencies, investors should consider how crypto ETFs fit into their overall investment strategy.
• Monitor regulatory developments: Stay informed on regulatory changes, as they can impact the performance and availability of crypto ETFs.

In closing

Crypto ETFs represent a bridge between traditional finance and the evolving cryptocurrency market, offering investors a regulated and convenient way to gain exposure to digital assets. While they provide benefits such as accessibility, liquidity, and diversification, they also come with risks related to volatility and regulatory uncertainties.

As the cryptocurrency market continues to mature, crypto ETFs are likely to play a growing role in the portfolios of investors seeking exposure to digital assets.

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Agility is one of the key factors to a startup’s success. In the current climate, with interest rates rising and a recession looming on the horizon, startup valuations have seen a decline as startups adopt a “take what you can get” mentality, feeling the pressure to extend their runways and raise their next rounds. 

This year alone has seen Klarna’s valuation slashed down to just US$6 billion and mass layoffs at Southeast Asian startups such as Sea and StashAway.

Lower valuations and lengthy funding cycles give startup founders less money and flexibility to spend on product launches, customer acquisition and growth. Lower valuations also put founders under more pressure to give away more equity to secure the investment they need in their next funding round.

But accepting a low valuation isn’t the only option available to startups today.

A small and agile solution to a big problem

Rather than facing a 12-18 month cycle to do a full funding round, early-stage startups can shift to agile fundraising, raising small amounts frequently and taking investments opportunistically.

Savvy startup founders already use agile fundraising to grow their businesses, meaning they spend less time holding back business growth as they need to line up the investors and do a full funding round.  

With agile fundraising founders take investment before or between funding rounds. Two of the most popular methods to do that is:

• Advanced subscription agreement (ASA)
• Convertible loan note (CLN)

ASAs allow investors to instantly invest money which will convert into shares at the next funding round at a valuation determined at that future funding round. Familiar usages of this include the ‘Simple Agreement for Future Equity’ (SAFE), which remains popular in the US.

Early investors using an ASA may also benefit from a discount on the price per share paid by investors in the next funding round or by setting a cap on the maximum valuation amount at which the ASA will convert at the next round.

Meanwhile, founders benefit from an immediate funding injection that can be used to extend their runway or to invest in growth. Using an ASA, home set-up service Just Move raised US$7864445.49 (SG$11 M) from over 100 investors, tapping each one as and when the opportunity arose.

Also Read: Fundraising 101: How to approach investors

CLNs are short-term debt instruments that give investors debt into a company that can convert into equity either in the next funding round or at a specified deadline known as a longstop date.

For investors, CLNs are an attractive option as they provide an interest rate and more protection in the event of insolvency, liquidations and if the debt ranks higher than equity. In addition, investors are more likely to back their money if the company fails to raise a qualifying funding round.

Who is agile fundraising right for?

While early-stage founders may be the most obvious beneficiaries of agile funding, that’s not to say those who have already raised multiple funding rounds cannot benefit from it too.

One such scenario is when the founder has found their first investor who is willing to invest, they may use ASAs to commit the investor and access funds sooner while they search for other investors. This process can be repeated for each investor.

Through ASAs, founders obtain their investment immediately and can use the funds to invest in the startup’s growth or extend their runway.

It is generally easier for prospective investors to view a founder’s business positively when an investor is already committed and has already transferred funds.

ASAs are also useful if founders and investors cannot agree on a valuation or need more time to choose one. In these situations, ASAs give founders sufficient funding to provide them with more time to work on their startup’s valuation.

Agile fundraising works for founders who are eyeing involvement from particular investors. In cases when the founder has landed their dream investor and has a significant amount of their target raise committed, it may be wise to close the round and continue raising via mechanisms that allow for a top-up.

Other incoming investors would sign up to the same terms as the existing round. This allows founders to receive funds and put them to work immediately while continuing to fill and complete their rounds using top-ups.

Agile fundraising is an essential method for founders needing easy-access funding to stay afloat. With funding from either ASA or instant investments in their pockets, founders then can better utilise the time to focus on their business. They can also navigate delays to larger funding rounds while focusing on their startups’ growth.

In times of economic upheaval, agile fundraising could be the most feasible and durable solution for founders to raise funds. Investors, meanwhile, can stay in the game without committing huge sums amid uncertainty. It’s a win-win for both parties.

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

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This article was first published on September 12, 2022

The post How to inject agility into your fundraising appeared first on e27.

Fintech Frontiers: Uncovering Deeper Opportunities for Investment and Venture Creation

At Echelon Philippines 2024, the panel ‘Fintech Frontiers: Uncovering Deeper Opportunities for Investment and Venture Creation’ brought together industry experts to explore emerging trends, niche markets, and potential disruptions in Southeast Asia’s financial technology landscape and delved into the opportunities and challenges facing the fintech sector in the region.

Moderated by Naveen Asrani, Head of Strategic Growth at AWS for ASEAN, the panel featured Jeremy Young, Associate at Gentree Fund; Juancho Jimenez, Vice President at Openspace VC; Sevastian Romberg, Co-Founder and Managing Director at Premise; Luis Buenaventura, Assistant Vice President at GCash.

The panel explored fintech’s transformative impact on banking, payments, and insurance, highlighting the potential of AI-driven financial services, blockchain, and digital banking to reshape these sectors. Key areas of opportunity emerged in untapped markets where fintech innovations could address pressing needs in the region, such as enhancing financial literacy and developing tailored lending solutions for SMEs.

Also Read: Echelon Philippines 2024: The power of collaboration – corporates and startups join forces

Regulatory hurdles and the challenges fintech startups face as they scale were also a focal point, particularly in Southeast Asia, where navigating complex regulatory landscapes is essential for sustainable growth. Additional insights covered the region’s credit gap, rising opportunities in insurtech, and the growing demand for cloud-based payment infrastructures.

The session concluded with insights on how innovative financial technologies, like AI-driven services and blockchain, can transform Southeast Asia’s economy.

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: Uncovering deeper opportunities in Southeast Asia’s fintech landscape appeared first on e27.

Dear reader,

Southeast Asia’s venture capital landscape in 2024 showcases the region’s resilience and its strategic potential. Amid global economic uncertainties, startups across diverse sectors—particularly fintech, AI, cloud services, and sustainability—continue to attract substantial funding.

This sustained interest underscores Southeast Asia’s role as a burgeoning innovation hub, supported by a young, tech-savvy population, and a growing digital economy. Countries like Singapore, Indonesia, Thailand, and the Philippines are home to some of the year’s largest funding rounds, as seen in companies like Ascend Money, Supabase, and NIUM, which are actively leveraging technology to address evolving consumer and business needs.

VCs are drawn to the region’s opportunities in areas such as financial inclusion, cloud infrastructure, and digital transformation, boosted by supportive government policies.

This trend is not only fostering economic growth but also driving a competitive environment where startups with disruptive solutions are thriving. As funding momentum continues, Southeast Asia could see a steady emergence of unicorns and “soonicorns,” especially as more investors look to capture the growth in these underserved markets.

The region’s entrepreneurial spirit and digital transformation initiatives highlight a promising trajectory, establishing Southeast Asia as a powerful player on the global startup stage.

Sainul,
Editor.

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NEWS & VIEWS

NTU, Walden International launch US$38M fund to support deeptech startups
Nanyang Frontier Fund will support deeptech spin-offs from Singapore’s Nanyang Technological University (NTU); It is the city-state’s first venture capital fund dedicated to a university.

Funding Societies expands financial reach with new HSBC credit facility
This transaction forms part of HSBC’s cumulative commitment of over US$100M since its partnership with Funding Societies that began in 2022.

SEA digital economy jumps from US$4B in 2022 to US$11B in 2024
Although the exit environment still poses difficulties, early-stage companies in SEA demonstrated impressive strides towards profitability, according to the e-Conomy SEA report.

SEA startup funding rebounds month-on-month but faces yearly decline
Startups in the region raised US$197 million in funding across 29 rounds in October 2024, down 74 per cent from the same period last year.

The Z Label raises US$11.4M to fuel Gen Z-inspired tech innovations in HK
Beyond Ventures is the lead investor; The Z Label is a tech-centric venture-building group focusing on the intersection of emerging technologies and GenZ consumer trends.

Capital C bags investment to build financial inclusion super app for SEA
The investors include Phillip Private Equity and Azure Capital; Capital C provides personal payday loans, business loans, partnerships, and acquisitions advisory through digital micro-financing and strategic planning.

CARDS raises funding to revolutionise school management in Indonesia’s smaller cities
The investors are Katha VC, DS/X Venture, and EduSpaze; CARDS is designed to digitise various operational functions of schools, ranging from administration and finance to digital payments.

Wavemaker Impact launches Numat to transform bamboo into sustainable products
Numat runs mobile bamboo processing units that convert bamboo poles at the harvest site into various pre-processed formats for processors worldwide.

Crypto CEO kidnapped in Toronto, released after paying US$1M ransom
WonderFi CEO Dean Skurka was reportedly shoved into a vehicle in downtown Toronto during rush hour, only to be released uninjured after electronically sending $1 million (presumably CAD) to his captors.

India raids Amazon, Flipkart over investment law breaches
The raids at 19 locations in New Delhi, Mumbai, and Bengaluru followed a report alleging violations of foreign investment rules by these e-commerce firms.

Dash Electric secures seed funding to scale EV-as-a-service across Indonesia
Radical Fund and Bali Investment Club are the lead investors; Dash Electric aims to accelerate the adoption of electric vehicles in Indonesia by providing green supply infrastructure to businesses.

Malaysia’s digital bank GXBank introduces new products & tech startup accelerator programme
The accelerator programme will provide personalised mentorship from industry leaders, alongside expert-led workshops on innovation, market entry, and securing investment.

Earth VC invests in Germany’s sustainable biomaterials startup Cambrium
Cambrium’s current focus includes precision-fermented, skin-identical collagen for personal care and plastic-free leather alternatives.

FEATURES & INTERVIEWS

From fintech to IoT: Southeast Asia’s standout startups with the largest funding rounds in 2024
Southeast Asia’s startups, particularly in fintech, cloud services, sustainability, and AI, have maintained strong investor interest.

DRVR-Sentiance combination plans to transform motorcycle safety in SEA with AI
DRVR and Sentiance will enhance on-device processing for faster, advanced motorcycle safety solutions tailored to the on-demand economy.

A closer look into the digital economies of Indonesia, Philippines in 2024
When it comes to the digital economy, both countries saw notable growth in e-commerce, with video commerce making shopping more interactive.

Path to profitability: How SEA startups are thriving in 2024’s digital economy
The emphasis on effective monetisation, operational efficiency, and adapting to consumer behaviour further supports the digital economy.

FROM THE ARCHIVES

All you need to know about debt and equity financing
This article examines the common forms of debt and equity financing adopted by private companies incorporated in Singapore to raise funds.

Governing your startup: What founders can learn from politics and vice versa
It would benefit the startup community to look at itself not only as a niche business ecosystem but as one woven into the fabric of society.

Breaking down geography-based salary for your global teams
Geography-based pay comprises many complex factors, which is why it is crucial to acknowledge various approaches to implement these policies.

What business owners should know before setting up foreign entities
If you are considering expanding your team overseas in the long run, it is more beneficial to establish a foreign entity.

Why SEA’s startup ecosystem is making a strong case for legaltech
Startups are seeking legal services which are more cost transparent, flexible and efficient, and legaltech is here to provide that and more.

Digital bank licences: Why does everyone want a slice of the unbanked?
Digital banks seek to improve digital literacy and to lessen financial inequality amongst the underbanked population.

Digital banking in Indonesia: Growing importance and future trends
Ivitech.Drive is spearheading advancements in Indonesia’s digital banking sector, paving the way for a robust financial future.

Do cards have the opportunity to flourish in Southeast Asia’s digital payment services landscape?
The advent of the pandemic has catalysed significant transformations within the payments landscape across Southeast Asia.

Ransomware wake-up call: Why Indonesian businesses need more than just antivirus
In today’s digital age, an antivirus alone is no longer sufficient; it’s time to bolster our defences and make cybersecurity a top priority.

Cracking the code: Decoding 4 myths in Indonesia’s startup realm
This article highlights four common misconceptions that founders might have that can either make or break a startup.

How to meet your customer expectations fluently with the power of business messaging
The conversational future is here, and businesses need to start exploring how to incorporate business messaging into their marketing strategy.

How does marketing agility fuel disruptive innovation?
Marketing agility enables the organisation to become more proactive, even in this era of fast-changing customer needs and wants.

Why content strategy is vital for your B2B startup’s long-term growth
Content is vital in generating leads, especially for B2B startups, and should be considered a long-term investment.

From automation to hyper-personalisation: Leveraging AI for smarter marketing
With AI increasingly being embedded into marketing technology and platforms, it is important to keep in mind that marketing still hinges on humanity.

THOUGHT LEADERSHIP

Launching a VC fund in Malaysia: A venture lawyer’s guide
Malaysia’s VC scene is booming as the government’s “fund of funds” program draws local and international VCs, spurring new fund launches.

5 AI strategies for Singapore retailers to sleigh holiday sales and beyond
While peak sales seasons may challenge large-scale expansion, AI can help retailers enter new markets more smoothly.

Institutional interoperability will usher in the next iteration of Web3
Decentralised finance looks set for its take-off season on a global level, but has blockchain interoperability matured enough?

The post Ecosystem Roundup: SEA’s largest funding rounds of 2024 | NTU, Walden launch US$38M deeptech fund appeared first on e27.

Dash Electric, an Indonesian electric vehicle (EV)-as-a-service startup, has closed an oversubscribed seed funding round.

The round, the details of which remain undisclosed, was led by The Radical Fund, with Bali Investment Club (BIC) as co-lead.

Gojek co-founder Kevin Aluwi, Schneider Electric Energy Access Asia (SEEAA), Aksara Ventures, and existing investor Antler also co-invested.

Dash Electric will use the funds for expansion, enabling it to increase driver onboarding, grow its EV fleet, and develop in-house software to enhance fleet management.

Also Read: Revolutionising urban commutes: Southeast Asia’s prominent electric two-wheeler startups

“Our mission is to make EV adoption effortless for both businesses and drivers,” said CEO and co-founder Aditya Brahmana. “With Dash, companies can focus on their core business while we handle the logistics.”

Launched in 2023 by Aditya Brahmana and Robert Mulianto, Dash Electric is a B2B platform building an EV fleet of on-demand delivery drivers. It helps businesses book, track, and manage deliveries at scale.

The company plans to build seamless API integrations with clients, optimising its service for greater operational efficiency.

Alina Truhina, CEO of The Radical Fund, praised Dash’s disruptive potential in Indonesia’s logistics sector. BIC’s Managing Partner, Nicolo Castiglione, highlighted Dash’s alignment with Indonesia’s EV goals and its commitment to sustainable growth. Founded in 2023 by Aditya Brahmana and Robert Mulianto, Dash Electric supports Indonesia’s 2040 target for 100% EV adoption, partnering with clients in logistics, e-commerce, retail, and food delivery to enable sustainable, seamless deliveries.

The post Indonesia’s Dash Electric closes seed financing round to grow its EV fleet appeared first on e27.

In today’s data-driven landscape, businesses face an overwhelming influx of information from every direction. This flood of data can obscure what truly matters for strategic decision-making, especially as companies navigate shifting consumer behaviours and heightened expectations for rapid, data-backed decisions. The pressure is on leaders to remain agile and informed, but limited time and resources often make it difficult to process data effectively and spot actionable insights quickly.

But this challenge can be tackled using AI as proposed by Singapore-based EVOV AI.

With its ability to process vast datasets quickly, AI can identify trends, offer predictive insights, and generate decision-ready recommendations. For marketers, this means moving from a reactive stance to one that is anticipatory and strategic.

“Our focus is on helping marketers and business owners get the most out of video content, which is becoming essential for brands across all industries. Many marketers struggle to understand what works, adapt to the rapid pace of trends, and accurately measure their campaigns’ impact,” says Dr Yi Chenyu, CEO at EVOV AI.

“Our platform is designed to address these issues by giving marketers real-time, cross-platform insights and recommendations they can act on. What makes EVOV AI unique is its multimodal AI engine, predictive modelling, and explainable recommendations.”

Also Read: How does marketing agility fuel disruptive innovation?

The team works with a diverse range of users, including marketing teams from established brands and smaller, emerging brands aiming to grow their online presence. To reach these audiences, they use a freemium model that allows users to try the platform with essential features before upgrading if they find value.

They also collaborate with marketing agencies and influencers to promote and showcase the benefits of EVOV AI. Digital marketing is another key part of their strategy, utilising SEO, SEM, and social media marketing to reach a wider customer base.

Executing their growth plan

The founding team of EVOV AI brings together expertise in AI, data science, and business. As the lead AI researcher, Dr Yi holds a PhD in deep learning and video analytics, while Chance Fu, the company’s tech lead and former tech lead at Thales, is a skilled full-stack developer with a strong background in big data.

Software architect Danny Zhang contributed to developing the TikTok Live Data Platform, and business manager Isaac Wu is a serial entrepreneur with experience in scaling tech companies.

Additionally, Prof. Li Haoliang, an AI expert, serves as an advisor. Currently, the team comprises eight passionate members across AI, engineering, and business.

Also Read: Tried-and-tested marketing strategies for startups across all stages in Singapore

The startup is currently self-funded by the founding team and supported by university and government grants. It is actively looking for a seed funding round to accelerate growth through product development, talent acquisition, and marketing.

EVOV AI is one of the startups that participated in the L’Oréal Big Bang Beauty Tech Innovation Program; Dr. Yi believes that the experience has been “incredibly beneficial” for the company.

“It has given us the chance to showcase EVOV AI’s capabilities to a broader audience in the beauty sector, which is a key market for us. We have also had the chance to connect with industry leaders and get direct feedback on our platform,” he says.

“Participating in this programme is a huge validation of what we are doing, and it is helping us build the credibility we need to approach the big brands. Our goal is to establish partnerships with more beauty brands and continue refining our solutions to fit industry-specific needs.”

When asked about their plans for 2025, Dr. Yi said that it would be “an ambitious” year.

“First, we are working on an AI-powered video marketing agent that will guide marketers from the idea stage all the way to execution, making the entire process easier and more efficient. We are also planning to expand into new industries such as F&B and e-commerce, which are a natural fit for our platform,” he explains.

Also Read: Tried-and-tested marketing strategies for startups across all stages in Singapore

“Geographically, we want to extend our reach into other parts of Asia, such as Hong Kong. We also plan to reach other markets in Oceania and North America. And, of course, as we grow, we will add to our team to ensure we can support our expanding client base. It’s going to be an exciting year!”

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Image Credit: EVOV AI

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Statista reports that livestream e-commerce sales reached US$17 billion in 2022, with projections indicating this figure could triple by the close of 2026. The same prospect is seen in many markets in Southeast Asia (SEA). Still, in an interview with e27, BeLive Technology CEO Kenneth Tan explains that it cannot tackle the market with a “single regional strategy.”

“SEA is a highly diverse market, with each country having unique consumer preferences and cultural nuances. We do not approach the entire SEA with a single regional strategy, but rather adopt a hyperlocal approach,” he writes in an email interview.

“This approach also reflects our deep focus on working with technology and content partners, increasing the diversity of our offerings and capital efficiency.”

As a live streaming solutions provider, BeLive Technology leverages AI and machine learning specifically for live video analysis, live shopping, shoppable short videos, and interactive streaming.

Founded by Tan in 2017, before the COVID-19 boom in live streaming, BeLive has since thrived with a team of over eighty people, delivering 55 million hours of live video since 2019 across Singapore, Vietnam, and Shenzhen, and accumulating over US$10 million in total revenue.

Also Read: How AI, AR, and live streaming are changing the online shopping experience

In this interview, Tan explains how BeLive Technology seizes opportunities in this sector.

The following is an edited excerpt of the conversation.

With increasing competition in the livestreaming space, what unique strategies does BeLive Technology employ to maintain long-term profitability and customer retention?

We have deployed livestream and short video experiences at scale in many countries, often working with the region’s market-leading platforms. This allows us to obtain a deep understanding of consumer behaviours across regions and verticals, which informs our approach to developing new features that our customers can use to engage, retain, and convert their users.

We also invest deeply in personalised customer service and key account management. Livestream and shoppable video are still relatively new mediums for most brands.

What role does technology innovation play in driving cost-efficiency and sustainability for your platform, especially in the face of infrastructure and connectivity challenges in some SEA countries?

Our team works closely with our infrastructure partners to ensure high-quality, low-latency, and cost-effective video delivery. We have delivered vast quantities of real-time video at scale to Tier 2, 3, and 4 countries in Indonesia, India, South Africa, and Nigeria.

This is only possible with our continued investment in enhancing our products and using innovative solutions to deliver interactive video experiences.

As a technology-driven company, how does BeLive Technology contribute to fostering a sustainable content ecosystem for creators and users?

BeLive focuses on creating a balanced ecosystem where creators and users feel supported and engaged.

Also Read: Opportunities for the livestreaming industry in Asia

We actively develop tools enabling creators to connect deeply with their audiences, facilitating genuine interactions beyond simple engagement metrics.

Our SaaS platform is designed to provide monetization options tailored to creators’ unique needs, whether established influencers or emerging voices.

Our partnerships with content and tech leaders further enrich our ecosystem, allowing us to provide varied, engaging content that retains viewers and supports creators in their journey.

What are BeLive Technology’s future plans for expansion, and how do you see the livestreaming industry evolving in Southeast Asia over the next few years?

We are committed to investing in the future of video, as we believe we’re just beginning to uncover the full potential of the video revolution. This vision goes beyond technology; it includes building partnerships and ecosystems to deliver the best solutions that empower our customers to sell, engage, and retain audiences more effectively.

While platforms such as TikTok Live and Facebook Live continue to dominate the SEA landscape, we anticipate room for alternative platforms to emerge, especially with geopolitical tensions and potential regulatory changes, similar to what we have seen in Indonesia and India regarding TikTok.

This evolving landscape may allow SEA consumers to explore diverse platforms, each offering distinct experiences and ways to connect.

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Image Credit: BeLive Technology

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Belgium-based mobile-first motion insights company Sentiance has just announced the acquisition of Bangkok-headquartered fleet intelligence platform DRVR. The combination of the two firms aims to advance safety-first, privacy-driven solutions to address road safety challenges worldwide. Sentiance has grant plans to expand across Southeast Asia.

In this interview, DRVR’s founder, David Henderson, shares more insights into the deal.

How does Sentiance’s mission align with DRVR’s core values, and what aspects of Sentiance’s approach to road safety resonate most with your team?

Sentiance and DRVR share a mission to save lives by reducing road accidents. Another key aspect we share is a strong focus on privacy. Sentiance has a world-leading solution for ensuring that users’ privacy is protected and respected and that data is used for good.

How do you plan to leverage Sentiance’s on-device processing technology within DRVR’s existing offerings?

DRVR’s staff and customers will join Sentiance. We’re excited by the potential for the AI-based on-device technology Sentiance has developed, which will address key areas of concern to our customers, chiefly price, scalability, and privacy.

What new roles or opportunities do you foresee for your team as part of Sentiance’s regional operations?

The Belgian firm already has a presence in the region, and the DRVR team will help solidify that. We’re excited to work to reduce road accidents in a new sector for us, where Sentiance has been a strong champion. We have seen strong growth in areas like e-commerce and food delivery as critical drivers for our future growth.

Also Read: Sentiance acquires DRVR to strengthen road safety, expand footprint across Asia

With Sentiance’s enhanced technology, what new benefits will DRVR’s current clients experience?

DRVR’s clients will benefit from Sentiance’s advanced AI-powered on-device processing, which enables faster data insights while enhancing privacy and reducing costs. They’ll also gain access to tailored safety solutions, including evidence-based motorcycle safety for the on-demand economy and deeper, AI-driven behavioural insights to help improve driver safety and reduce risk.

These enhancements will empower clients with more actionable, privacy-first insights to support safer driving habits and effective risk management.

Can you provide examples of how DRVR’s solutions might evolve or expand with this acquisition?

Southeast Asia is a major centre for motorcycles and scooters. With our many years of experience in the region, we will continue to develop world-class products and enhance our existing solutions.

How does this acquisition strengthen DRVR’s impact on road safety across Asia? These?

Sentiance’s acquisition of DRVR will strengthen its local presence, enabling companies across the region to gain access to its market-leading technology. Sentiance’s on-device solution is a game changer, as it both secures customers’ privacy and is much more affordable than traditional on-cloud solutions. This will enable the rollout across the region to a wider pool of potential customers.

How will this acquisition help DRVR respond to the specific safety needs of the on-demand economy, particularly with Sentiance’s motorcycle safety solution?

Sentiance Asia will focus strongly on the on-demand economy. Accidents amongst these vulnerable road users can account for up to 60 per cent of total accidents.

Sentiance has strong experience in this area, with leading on-demand economy customers already using the service and rolling out the Sentiance safety solution in the region.

With Sentiance’s AI-driven, driver-focused technology, what advancements do you see for AI’s role in road safety?

AI is at the core of the Sentiance platform to provide detailed scores and help drivers/riders improve safety and save lives. Our roadmap includes some exciting developments in this field.

How does Sentiance’s focus on drivers over vehicles align with DRVR’s future strategies?

It’s true that DRVR focused on fleet management and was vehicle-centric in the past. However, we pivoted to app-based solutions in 2020.

Sentiance focuses on the driver and not the vehicle, so by joining forces, DRVR can help expand Sentiance’s footprint into Asia, reduce human error on the road, and thus help save lives.

Also Read: Charting the roadmap for the era of pervasive AI

Recent studies have shown that even with all the new technologies and safety features developed by OEMs, the number of accidents and fatalities keeps rising, and 94 per cent of accidents are caused by the driver.

What innovations are on the horizon as part of the combined technology roadmap for DRVR and Sentiance?

The combined roadmap will focus on AI model improvements, enhanced on-device processing for faster, privacy-centric insights, advanced motorcycle safety solutions tailored to the on-demand economy, and AI-driven behavioural insights to personalise safety feedback. We’re also scaling risk modelling tools for broader, data-driven safety applications.

Sentiance has a global outlook on reducing road injuries and fatalities. How will DRVR contribute to these efforts beyond Asia?

The DRVR team brings valuable local expertise in the Asian market, which will guide Sentiance’s approach in regions with similar road safety challenges. Sentiance’s innovations, combined with DRVR’s local expertise in Asia, will be adapted for broader global applications.

Additionally, DRVR’s partnerships and data insights will further support safety initiatives and policy advocacy worldwide.

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As the digital economy in Southeast Asia (SEA) expands rapidly, Indonesia and the Philippines emerge as significant players. In 2024, both countries witnessed impressive growth driven by advancements in e-commerce, digital financial services, and online travel.

Despite shared similarities, the two countries’ unique market dynamics, regulatory environments, and growth trajectories highlight the distinctive paths each country is taking toward digital transformation.

Based on information revealed in the SEA e-Conomy Report 2024 by Google, Temasek, and Bain & Co., this article looks at how the digital economy in Indonesia and the Philippines fare in 2024. Outlining their respective strengths and challenges, this might serve as a handy guidance for entrepreneurs looking to seize opportunities in the market.

Overall market size and growth

Indonesia’s digital economy remains the largest in SEA, reaching a Gross Merchandise Value (GMV) of US$90 billion in 2024, a 13 per cent increase from the previous year. This growth is propelled primarily by robust e-commerce expansion, underpinned by the rising popularity of video commerce. The e-commerce sector reached a GMV of US$65 billion, indicating a vast and continually growing online marketplace.

In contrast, the Philippines’ digital economy, though smaller in absolute terms, is growing at a faster rate. A 19 percent increase brought its GMV to US$31 billion in 2024.

Also Read: Digital banking in Indonesia: Growing importance and future trends

The e-commerce sector in the Philippines, similarly driven by video commerce, recorded a 23 per cent growth to reach US$21 billion. While the Philippines’ digital economy is smaller than Indonesia’s, its growth rate underscores its potential as an emerging digital market in SEA.

Consumer trends in e-commerce

As discussed, both countries saw notable growth in e-commerce, with video commerce transforming consumer experiences by making shopping more interactive.

In Indonesia, this trend has led major e-commerce players to refine their strategies, leveraging social media and content-driven platforms to enhance engagement. Furthermore, the Indonesian market has grown increasingly competitive, with acquisitions by leading social media companies and local players intensifying the competition, encouraging brands to adopt innovative customer engagement methods.

Similarly, video commerce resonates strongly with Filipino consumers, driving engagement and sales. However, the Philippines has a unique advantage in terms of language and localisation. Filipino consumers and content creators demonstrate a clear preference for local language content, which has influenced e-commerce strategies and led to a more culturally tailored approach to customer engagement.

Brands that leverage this localised approach are better positioned to capture the Philippine market, creating opportunities for businesses that understand the importance of language and cultural nuances.

Digital financial services and regulatory landscape

Digital financial services (DFS) have become crucial in both markets, though each country has approached this growth differently.

Also Read: Echelon Philippines 2024: The power of collaboration – corporates and startups join forces

Indonesia’s DFS sector experienced notable growth in digital payments and lending, supported by government initiatives to encourage a cashless society. Launching a nationwide digital wallet program exemplifies the government’s efforts to expand digital finance nationwide.

Despite regulatory oversight, which has increased to ensure security and stability, Indonesia’s DFS market remains dynamic and is anticipated to grow as financial inclusion efforts expand beyond major cities.

The Philippines, on the other hand, saw a significant rise in digital payments, with volumes reaching US$125 billion in 2024. Aiming to level the playing field between local and foreign providers, the government has introduced policies such as the Internet Transactions Act, mandating registration for online businesses and a value-added tax on non-resident digital service providers.

These regulatory changes, while complex, aim to enhance security and fairness within the digital financial landscape, promoting a safer and more competitive environment for digital services.

Investment in digital inclusion

Despite the promising growth, infrastructure remains a critical factor in digital economy growth in the two countries.

In Indonesia, digital infrastructure investments have focused on expanding access beyond major urban centres. Major tech companies are venturing into smaller cities to tap into new consumer markets and leverage regional talent. This geographic expansion is expected to play a significant role in Indonesia’s continued digital growth in the years ahead.

Also Read: Ransomware wake-up call: Why Indonesian businesses need more than just antivirus

Recognising similar needs, the Philippines has also prioritised connectivity, particularly in underserved areas. The Philippine Digital Infrastructure Project, with an investment of US$288 million, is a testament to the government’s commitment to bridging the digital divide.

Improved connectivity is crucial for expanding access to digital services and fostering regional economic growth, allowing smaller communities to benefit from the opportunities presented by the digital economy.

Towards the future

Looking forward, both countries face opportunities and challenges in sustaining their digital economy growth.

In Indonesia, AI is gaining traction, with applications across e-commerce, finance, and other sectors expected to increase significantly in 2025. AI adoption, particularly in high-interest regions such as East Kalimantan, Jakarta, and Riau Islands, could enhance operational efficiency and customer engagement across industries.

In the Philippines, the resurgence in travel and tourism spending is notable, with the online travel sector growing by 13 per cent to reach US$3 billion in 2024.

As post-pandemic travel demand continues to rise, online travel platforms are expected to benefit. Furthermore, continued investments in digital infrastructure and a proactive approach to regulation suggest that the Philippines is laying a strong foundation for sustainable growth in the digital sector.

At the end of the day

Indonesia and the Philippines are both making significant strides in the digital economy, each with its own strengths.

Also Read: Echelon Philippines 2024: Why the Philippines is the next big tech hub

Indonesia’s larger market size and the continued expansion of digital finance and e-commerce reflect its position as a regional digital powerhouse. Meanwhile, the Philippines, though at a smaller scale, is exhibiting robust growth, driven by rapid e-commerce adoption, localised content strategies, and regulatory advancements aimed at creating a fairer digital economy.

As both countries navigate challenges around regulatory oversight, infrastructure, and digital inclusivity, their trajectories will likely serve as benchmarks for emerging digital markets across Southeast Asia.

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Image Credit: © rawpixel, 123RF Free Images

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