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Yangon-based on-demand trucking start-up, Kone Si has received a six-digit investment for nationwide expansion from Yangon Capital Partners (YCP), a Myanmar-focused venture capital under Trust Venture Partners, a local financial advisory firm, and Nest Tech– a Vietnam-based venture capital company as reported by local media.

This is the second round of investment for Kone Si after it initially received pre-seed funding from Phandeeyar in 2017, which has invested in Kone Si and 16 other local companies since 2016.

The start-up is planning to use the new funding to boost its technology platform, acquire talent, and expand to other commercial cities around the country to strengthen its user base.

A Top 100 contender, the ecosystem of Kone Si comprises more than 100 business shippers and over 2000 truckers; it also has an average month over month sales growth of 30 percent.

Ma Zar Phyu Tint Lwint, CEO of Kone Si said that in addition to understanding the power paradigm between the customers and truck suppliers, knowing the logistics freight flows throughout the year in the country is critical as that can help partner truckers get return loads and operate efficiently.

Also read: Don’t sleep on them: Here are food tech startups from Cambodia, Myanmar that you should know about

Businesses in Myanmar face difficulty in outsourcing transportation to third parties due to unreliability, lack of standardised procedures and non-transparent pricing among truckers, according to Kone Si.

Moreover, due to fluctuating transport pricing controlled by large trucking groups as well as unethical working nature, small fleet owners and individual truckers have to struggle to get regular jobs. Kone Si aims to bridge the gap between shippers and small fleet truckers.

“The services designed by market-savvy management will bring down logistics cost, a bottleneck of business operation across industries, and eventually benefit consumers in Myanmar” said Shinsuke Goto, managing director of YCP.

Just last week, Emerging Markets Entrepreneurs (EME), an early-stage venture capital firm, had also announced during its anniversary celebration on November 20 that it had invested a six-figure and five-figure sum respectively into two local start-ups: Natural Farm Fresh, a local company producing high-quality solar-dried chili powder and other dried products, and Yangon Broom, a home-services firm offering on-demand services including cleaning and ironing to residential homes and businesses.

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Ministry of Movement Pte. Ltd. (SWAT), an on-demand transport technology startup that pools passengers in high-capacity vehicles to route them to offer the highest utilisation rates and service levels has closed US$10 million in its Series A funding.

The funding is led by the University of Tokyo Edge Capital (UTEC), joined by investors include new investors SMRT Momentum Ventures, ComfortDelGro Ventures, Singapore Economic Development Board (EDB) New Ventures, EDB Investments, and LKJ Capital Japan. Pre-Series A investors iGlobe Platinum Fund II Pte. Ltd. and the Goldbell Group family office reinvested in this round.

SWAT said it plans to use the funds to grow and expand overseas. This investment will allow the company to tread new business verticals and establish its position as an intelligent transport technology provider in the region.

“SWAT is focussed on providing efficient transport for commuters through ride pooling in high-capacity vehicles. We see a need for such shared transport, especially in areas where the transport system has not caught up with rapid urbanisation and high population density,” said Jarrold Ong, Co-founder, and CEO of SWAT.

Ong continued: “Our solutions are designed to improve connectivity and reduce congestion within cities.”

Also Read: (Exclusive) Singapore startup SWAT raises US$2.2M to expand minibus ride-sharing services locally

Founded in September 2015, SWAT launched Asia’s first-ever dynamic on-demand bus service in Singapore the following year.

The company currently provides on-demand employee transportation for large corporations and industrial parks with operations in Singapore and Vietnam. It also operates an on-demand public bus service in Australia, providing first/last-mile connection from North-West Sydney to the new Sydney Metro.

Earlier this year, SWAT also conducted the Singapore Land Transport Authority’s public on-demand bus trials.

SWAT said it differs from ride-hailing services most people are familiar with, in that its algorithm allows for ridesharing, or essentially car-pooling, in vehicles of varying passenger capacity.

SWAT is set to launch projects in Japan, China, the Philippines, and Indonesia by the first half of 2020. As part of its expansion, SWAT also plans to support the growth of its commercial operations by boosting internal tech, data, and engineering teams, streamlining operations and increasing marketing activities.
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Startups are growing at an unprecedented rate in the Philippines. The country has welcomed numerous fintech startups and celebrated funding rounds for remittance, healthtech, and logistics startups.

However, when it comes to foodtech startups, the country may not have a similar problem faced by other countries in the region where food startups are part of its citizen’s daily lifestyles. The closest similarities the Philippines may have in terms of its need for accessible, one-tap-away food service is with Indonesia, where it shares complex archipelago and traffic nightmares.

In the food and tech area, it seems like the Philippines might take its sweet time as we uncover these six local food startups.

Good Meal Hunting

Described itself as “an online food marketplace for home-cooked meals”, Good Meal Hunting provides options of a freshly-made, hearty meal cooked in gourmet style.

According to its official website, the startup empowers its kitchen merchants to manage their own food business out of the comfort of their homes and fully handles the logistical and technical aspects of food business, from providing food containers to coordinating with delivery services.

According to an article by Rappler, the startup also provides caterings for company events and parties, all done with a mission to empower home cooks in the Philippines.

Also Read: These agritech startups might be the next big thing in the Philippines

LalaFood

In an article by Spot PH, LalaFood was considered a newcomer in the food startup scene, especially in the heavily-congested Philippines. LalaFood lets users track their meal delivery and guarantees delivery in 45 minutes or less with no minimum order required.

The concept of LalaFood is obviously nothing new, but its presence definitely boosts a variety of the online platform for food delivery in the country, aside from the market leaders GrabFood and FoodPanda.

Delivery Guy

Launched in 2018, Delivery Guy is what its name suggests, a Filipino-owned delivery app. The startup was co-founded by logistics-background Neil Castillo, and his wife Finina Marie Tugade-Castillo.

According to an article by Rappler, Delivery Guy promises a delivery time of 60 minutes or under, within a 3-kilometer radius. The service also features delivery tracking, including a delivery journal that informs users what stage of preparation their order is.

In an article by Rappler, Castillo said that their strategy for restaurant partnerships leans more toward careful curation rather than having thousands of restaurants onboard to ensure every merchant gets distributed and exposed.

Mangan.PH

According to its website, Mangan.PH is an online food delivery service app that caters to Pampanga, the Culinary Capital of the Philippines. It offers a guarantee of delivery time under 60 minutes.

Also Read: Food Runner makes a dash for the Philippines by acquiring City Delivery

Restograph

Unlike its fellow food startups, Restograph is a new Philippines-based business intelligence software platform that helps restaurant owners store and analyse their legacy and offline PoS (Point of Sales) data to create actionable insights to increase sales.

In an interview with e27, Brian Dimarucot, Co-founder of Restograph explained about the company: “Restograph grabs your PoS data, translates that into something useful and delivers it in such a way that it’s easy to understand.”

Booky

Booky was founded by an Englishman Ben Wintle, who created Booky when he and his girlfriend, a well-known Filipino model and actress Iza Calzado, encountered a problem to find restaurants fast due to the Philippines’ poor Internet service.

According to an article by Rappler, Booky allows users to search for restaurants even if they are not online. Wintle explained that it works just like the influence Contacts list on the phone.
Using the search bar, users can search for restaurants by location, restaurant name, or cuisine.

By allowing the app to access users’ location, users can also search for restaurants “nearby” with an offline phone, showcasing restaurants within at least 500 meters distance.

Targeting food lovers, the app allows users to report incorrect information and share details on Facebook. The app offers free and premium content, wherein users can sign up for paid service to get more deals.

Philippines’ food scene is definitely not the main tech sector for the country at the moment given how locals already are used to GrabFood, Foodpanda, and Honestbee rather than starting a local operation with more Filipino roots. This leaves a vacant spot for potential local startups focussing on the Philippines and its food scene.

With food delivery, restaurant booking, and restaurant management apps already available, it remains fascinating to watch the sector closely for the next innovation.
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Photo by Eiliv-Sonas Aceron on Unsplash

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ADBRO, the Malaysia-based adtech startup that specialises in in-image programmatic marketing for publishers and advertisers, announces that it has secured financing from 500 Startups.

“Our next goal is to expand throughout the entire APAC. With a total of nearly US$100 billion in digital spend, 70 to 80 per cent will be spent on programmatic,” said Artem Titov, ADBRO Co-founder, and CEO. “The move from direct deals between advertisers and publishers to programmatic guarantees advertisers that their ads are only linked to premium content while allowing publishers to generate more revenue.”

According to Binh Tran, General Partner, 500 Startups Vietnam, adtech remains an area of interest in Southeast Asia due to the relatively nascent digital marketing ecosystem. “By leveraging computer vision and AI, ADBRO has helped marketers create premium ads that lead the market in engagement. By working closely with marketers to classify and understand images differently in each market, they have developed a deep understanding of consumer engagement that won’t be easily replicated”, said Binh.

Claiming to be the first to apply computer vision to serve ads in the region, ADBRO provides advertisers with ways to reach and engage their audiences. Using eye-tracking research, the computer vision feature enhances ad delivery by doubling the viewability, CTR, and video engagement rates as compared to traditional display options.

Also Read: E-pharmacy startup Gmedes raises funding led by 500 Startups, to boost G-MEDS service in the region

Founded in 2017 during YC School program, ADBRO serves the marketing tech sector by providing computer vision enhanced ads that are placed over contextually relevant images across publishers in Vietnam, Malaysia, and Indonesia. ADBRO’s proprietary technologies in computer vision and machine learning is used to scan articles, images, and other content types, bringing programmatically accessible in-image formats for advertisers.

The company is headquartered in Singapore, with three operational offices across Southeast Asia and development hubs in the Netherlands and Russia. Its investors include Future Matters and PilotX venture capital funds.
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Photo by Tran Mau Tri Tam on Unsplash

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Abhishek Chatterjee, CEO & Founder of Tookitaki

Tookitaki Holding Pte. Ltd. (Tookitaki), a Singapore-based regulatory technology (regtech) company announces that it has received an extended funding of its Series A funding round for US$1.7 million led by Viola Fintech, an Israeli US$100 million cross-stage venture fund, and SIG, a global venture firm with early to mid-stage investments in over nine Asia-founded unicorn startups. They were joined by Nomura Holdings through its venture capital arm (Nomura Incubation Investment Limited Partnership) as well as existing investors including Illuminate Financial, Jungle Ventures, and Spring SEEDs Capital, an investment arm of the Singapore government.

With this new growth investment, Tookitaki has extended its Series A funding round to US$19.2 million.

The company said that it plans to use the funding to enhance its product offerings, help around research and development, recruitment, and to drive Tookitaki’s global expansion – with the US and Asia-Pacific as priority markets Singapore & New York, US.

Tookitaki was co-founded by entrepreneurs Abhishek Chatterjee, its CEO, and Jeeta Bandopadhyay, COO.

Abhishek is a former associate at JP Morgan, had observed the 2008 financial crisis first-hand, following which he noted that regulators were stricter about financial checks and balances in a bid to maintain financial stability. However, the overall volume of digital banking and e-money transactions rose swiftly over time.

Also Read: Regulatory tech company Tookitaki raises US$7.5M in Series A funding round

Tookitaki was formed in November 2014 from this need to provide sustainable compliance programs in banking and financial services industry (BFS), using technology that is powered by machine learning and distributed data-parallel architecture. Its key offerings include an Anti-Money Laundering Suite (AMLS) and a Reconciliation Suite (RS).

Abhishek Chatterjee, Founder and CEO of Tookitaki shared, “Our vision has always been to ensure sustainable compliance programs for every financial institution in the world. Backed by our strategic global investors, we are better placed to deliver on this vision by growing our presence significantly across the U.S. and the Asia-Pacific region.”

“This will enable us to offer our partners and customers the enhanced solutions around the anti-money laundering (AML) and reconciliation spaces, driving sustainability in their systems, processes and software investments,” Chatterjee added.

Along with the funding, Joe Friscia, former President of NICE Actimize, ex-Viola Fintech investee, has also joined Tookitaki on its board of advisors. Friscia will contribute over 30 years of experience in the financial crime and enterprise software spaces and will accelerate Tookitaki’s expansion in America.

In addition to its U.S. expansion, the company will expand its R&D team in Singapore and Bangalore, India. To drive this initiative, it has appointed Subhas Samanta, former Director at LinkedIn, as Vice President of Research and Development of Tookitaki.

Also Read: Here are the top startups in the Singapore AI scene, plus some observations from an investor perspective

Tookitaki has also partnered with United Overseas Bank, which is the third-largest bank in Southeast Asia that has 500 offices across 19 countries, to operationalise a machine learning-powered AML solution within the bank’s current infrastructure.

Tookitaki recently filed a patent on explainable AI and machine learning framework and models to bring transparency into the validation process and output interpretability by banking customers and regulators.

www.tookitaki.ai

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India’s Paytm raises US$1B at US$16B valuation – Bloomberg

Indian digital payments giant Paytm today announced new funding from existing shareholders such as SoftBank Group Corp.’s Vision Fund and new investors, Bloomberg reported.

The company did not disclose further details but a source stated that it raised US$1 billion in equity at a US$16 billion valuation.

The source also said that Paytm is in talks for another US$1 billion in debt.

Bloomberg reported last month that Paytm was close to raising US$2 billion, split between debt and equity.

OYO gets board’s approval to raise US$1.5B from SoftBank, RA Hospitality – Dealstreet Asia

Indian hospitality chain Oyo Hotels & Homes has received its board approval to raise US$1.5 billion in primary capital infusion from its largest investor SoftBank Vision Fund and RA Hospitality, Dealstreet Asia reported.

Expected to value the company at about US$10 billion, this development came a month after it stated that founder Ritesh Agarwal would invest US$700 million in the Series F funding round by subscribing to new shares of the company. It was also said that SoftBank, along with a few investors, would also inject money into the round.

Also Read: Today’s top tech news, July 18: Honestbee to suspend services in Malaysia; Ebay picks over 5% stake in Paytm Mall

Singapore’s Tookitaki raises US$1.7M led by Viola Fintech – e27

Tookitaki, a Singapore-based regulatory technology (regtech) company, today announced a US$1.7 million Series A funding round led by Viola Fintech and SIG.

They were joined by Nomura Holdings through its venture capital arm (Nomura Incubation Investment Limited Partnership) as well as existing investors including Illuminate Financial, Jungle Ventures, and Spring SEEDs Capital.

With this new investment, Tookitaki has extended its Series A funding round to US$19.2 million.

The company said that it plans to use the funding to enhance its product offerings, help around research and development, recruitment, and to drive Tookitaki’s global expansion to the US and Asia Pacific.

2C2P raises US$52M funding, focussing on expansion – e27

Thai payments platform startup 2C2P announces that it has raised US$52 million in new funding from IFC, Cento Ventures, and Arbor Ventures.

The company said that it will use the funding to accelerate the company’s growth by investing in new technologies to enhance its payments platform, hiring local talent, and consolidating market share in Southeast Asia with a goal to expand beyond the region over the next year.

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Image Credit: Josh Appel on Unsplash

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Hydroleap, a Singapore-based wastewater treatment startup, has secured SG$2.6 (US$1.9) million in a new round of funding, led by Wavemaker Partners.

Seeds Capital, 500 Durians, and a few unnamed investors, also participated.

Founded by Mohammad Sherafatmand (a PhD from the National University of Singapore in Environmental Engineering), Hydroleap enables wastewater treatment to be cost-effective, environmentally-friendly and automated by replacing expensive chemical treatments with a smart electrical treatment.

It offers an automated modular system that does not need any chemicals to perform. The technology works based on electrochemical principles where low-powered electricity is applied to activate the aqueous solution and form coagulant reagents to attract contaminants.

The technology is applicable for wastewater, construction, food and beverage, oil & gas, tannery, mining and semiconductor industries.

Also Read: From mean to lean – how to build a great startup brand

Currently, the startup provides solutions at construction sites. With this new round, it plans to take its technology to industrial parks, mining, palm oil and semiconductor industries by removing suspended solids, heavy metals, hardness and COD from their wastewater.

In the construction industry, runoff silty water is treated before disposal. Currently, wastewater(s) are treated by adding chemicals (coagulant and flocculants) to the water. According to Hydroleap, this process causes irreversible financial and environmental impact. Hydroleap’s solution of using electricity to treat the water is overall 3X cheaper and 2X smaller than incumbent technologies, it claims.

“Through electrochemistry research, Sherafatmand has developed and commercialised an electrocoagulation system. Competitors from the US and Europe lag in efficiency compared with Hydroleap’s inbuilt proprietary mechanism. Hydroleap’s beachhead market is in construction and enjoys a strong pipeline of projects,” said Paul Santos, Managing Partner of Wavemaker Partners.

The startup has previously raised funding from SGInnovate, Sparklabs Cultiv8, Sparklabs Global Ventures and Entrepreneur First.

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The real test of leadership doesn’t occur when everything is going well. Rather, it’s in times of crisis when you get to see how much of a leader you are and whether you can establish your credentials.

But that doesn’t mean you should just wait for things to start going wrong to test your skills. Putting some effort into preparing for situations like this can sometimes mean the difference between success and failure. With that said, it’s a good idea to learn how to lead your team in crisis on time. Here are 6 ways to do this.

1. Project confidence

People tend to get nervous when things start going wrong. This is something you can notice in the way they talk and perform their day-to-day tasks. One of the biggest reasons for this is fear.

They’re afraid their big project will fail or that the company will have to shut down. If you project fear as well, that unease will make it even more difficult for everyone in your team to do well. Therefore, it’s your job to look like you are the master of the situation even if you don’t feel that way. Know how to stay calm and it’ll become easier for everyone else to contribute to the recovery process.

2. Be there for your team

Sometimes, situations like this can be extremely tough for some of your members. Work can start affecting their personal life and things may become even tougher.

It’s the leader’s job to spot employees who are having a hard time and support them as much as you can. Make sure everyone in your company knows they can turn to you with absolutely anything and show them you and your HR team are willing to help. Of course, every situation is different but try to use the breaks you take from helping your company get back on its feet to help others manage work and other responsibilities in their lives.

3. Be decisive

Showing that you don’t know what you’re doing in times of crisis can make the entire situation even worse. If you want to be a good leader, you have to be able to make decisions on the fly. In fact, it’s your job to be ready to make even the hardest decisions in a timely fashion. That’s one of the best ways to show your team that you’re not afraid of taking action.

Also, if some of the decisions you’re supposed to make don’t align with your views and values, make them anyway. Being able to adapt your decisions to your company’s current needs is guaranteed to inspire employees to take the same approach.

4. Focus on cash

A successful turnaround comes down to one thing – cash. If you’re able to take care of your company’s money, you’ll find it easier to deal with the situation and your team will remain calm. The most important thing you have to do is ensure the company has enough to pay the bills and issue paychecks on time.

However, if you really want to master money management, trading and trying to learn more about market psychology is something you just can’t go wrong with. Make some extra cash by trading and you’ll never have to worry about your company running out of money.

5. Stay in control

In times of crisis, your work environment can easily go out of control. It may not seem like that right now but once the chaos starts, you and your team will feel stressed out and that’ll reflect on your work environment.

When things like that happen, it’s imperative for the leader to get a better grip on the situation and show the team everything’s under control. For example, make sure you’re able to delegate tasks quickly enough and keep the office neat, even if that’s not a priority at the moment.

The only way to develop a good recovery plan is if everyone stays calm and your work environment remains the same as it always is.

6. Exercise caution

Just because your business is facing a crisis, it doesn’t mean you and your team members don’t have to be cautious about your work. The more you panic and ignore the stuff you’d normally pay attention to, the more things will go out of control.

That said, it’s your job to exercise caution even when the company’s having a hard time. It’s all about the alertness of mind and your leadership skills. Try to stay calm and observe the operations as if the company wasn’t in a crisis. Get even the smallest tasks right and your company will be on the right track to recover and continue doing business as usual.

Over to you

These are all important things to have in mind if you want you and your staff members to be able to deal with any issues that come up. Get everything right and your business will have no trouble surviving even the biggest crises.

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

Join our e27 Telegram group here, or our e27 contributor Facebook page here.

Image Credit: Mathias Jensen

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Over the past three years – according to Gartner – marketing budgets have declined from 12.1 per cent in 2016 to 10.5 per cent of the overall budget today.

When we delve deeper into the findings, however, we see one area of marketing spend that bucks this trend: marketing technology (martech).

Marketers often rank martech as a top priority, with spending increasing from 22 per cent in 2017 to 26 per cent in 2019. This upward trend is reflective of how businesses are prioritising data analytics and competitive insights at the very heart of the marketing function. This is because customer-centricity is now the new business mandate.

While budgets might be declining, the output of the marketing team does not need to. In fact, with the rise of martech it’s possible for teams to increase the results they deliver back to the business thanks to the ability to be more strategic and targeted in our communications.

Slow methods in a fast world

Traditionally, businesses have relied on market researchers’ expertise to develop studies, analyse responses, and obtain meaningful insights that can substantiate and guide them in their business decisions. However, this approach to research is time-consuming, labour intensive, and can drain the coffers of organisations already struggling with tight budgets.

Also Read: How online data is transforming market research

The efficiency of traditional research also hinges on the market researcher’s level of accessibility to platforms and marketing data. More often than not, organisations can only grant restricted access to their data and resources, which can translate to inefficiencies and bottlenecks, as well as limited insights. This results in teams conducting market research on third party platforms, which curtails the overall consistency of the businesses’ research methodology.

This is where martech solutions come in, offering the scalability, speed and flexibility required for businesses to make informed decisions in today’s fast-moving world. 

The impact of martech in research

 Modern research tools have the potential to deliver a high return on investment (ROI) in the longer term. Market researchers can leverage the power of artificial intelligence (AI) to filter out low-quality data (bots, duplicates and invalid responses) too. They can now capture valuable data into the user experience faster to gather holistic and targeted insights. Intelligent text and statistical analysis tools incorporating machine learning, allows organisations to identify open text feedback. This enables quick identification, comprehension and response to customer issues.  

Data privacy compliance, traditionally one of the most complicated areas of market research, especially with new GDPR policies, also becomes less of a hassle. This is because personal data, including survey responses and projects, can be quickly deleted. Also, these platforms are easily configurable to determine the parameters of sensitive data and automatically flags questions for survey creators. With less to worry about and manage, market researchers can focus more on analysing insights enabling them to improve their customer, product and brand experiences.

Market researchers can leverage the power of artificial intelligence (AI) to filter out low-quality data (bots, duplicates and invalid responses) too. They can now capture valuable data into the user experience faster to gather holistic and targeted insights. Intelligent text and statistical analysis tools incorporating machine learning, allows organisations to identify open text feedback. This enables quick identification, comprehension and response to customer issues. 

The best part, most of these modern research tools can be easily integrated with existing enterprise applications. This helps to collect operational data (O-data) such as sales and HR data. Organisations can now benefit from more targeted marketing campaigns driven by data and analytics. 

 Embracing the future of market research

The benefits of leveraging modern tools have led companies such as Gojek, Southeast Asia’s largest on-demand service and payments platform, to invest in martech to drive data-driven customer experiences. Relying on a modern tool has enabled Gojek to collect real-time feedback and insights at crucial points of the customer journey, better identify consumer preferences and pain points, and ultimately improve their product offering based on insights around features users value and engage with the most.

Also Read: 9 things to keep in while creating a good content marketing approach for your fintech company

Modernising the market research process through technology alone, however, won’t cut it.  Alongside leveraging modern research tools, businesses should focus on building trust with customers and strengthening these relationships to generate quality feedback.

Organisations should ensure they are not bombarding their audience with endless surveys and instead, limit the frequency of study invitations in a given period. Fortunately, modern platforms can capture customers’ preferences and demographics, which help in strategic targeting and reaching the right audience for specific studies. 

Modern research tools enable organisations to quickly derive and act upon targeted, accurate, actionable insights, all while reducing costs in the long-term. However, agility and precision is only part of the recipe to succeed.

Businesses must integrate systems of record into systems of action to ensure decisions are based on tangible facts. Together, this will help companies to overcome the challenges arising from reduced marketing budgets and ensure that businesses can reach significant ROI on their martech investment

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

Join our e27 Telegram group here, or our e27 contributor Facebook page here.

Image Credit: João Silas

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