Indonesian agritech startup Eratani announced it has secured US$6.2 million in Series A funding to accelerate its mission of transforming Indonesia’s rice farming sector through sustainable and data-driven solutions.

Clay Capital led the funding round, which included participation from TNB Aura, SBI Ven Capital, AgFunder, Genting Ventures, and IIX.

The fresh capital will enable Eratani to expand the adoption of precision agriculture tools, on-farm mechanisation, and environmentally sustainable cultivation practices. These efforts aim to improve farmers’ productivity and profitability while supporting Indonesia’s broader climate and food security goals.

“At Eratani, we are proving that economic and social impact can go hand-in-hand with environmental sustainability,” said Andrew Soeherman, Co-founder and CEO of Eratani, in a press statement. “Our focus is not on rapid expansion but on building a robust foundation that allows us to scale strategically, creating long-term value for farmers and the agricultural ecosystem.”

Founded in 2021, Eratani has built an end-to-end digital platform that connects stakeholders across the rice supply chain. The platform provides smallholder farmers access to affordable credit, quality inputs, agronomic advisory services and improved market access.

Also Read: Singapore anchors inaugural ClimAccelerator for agritech startups in APAC

The startup said that it has empowered over 34,000 farmers across Java and Sulawesi, improved cultivation across more than 13,000 hectares, and increased yields and incomes by 29 per cent and 25 per cent respectively in 2024. In total, Eratani has supported the production of over 112,000 tons of rice and grain.

Rice, a staple food for more than half the world’s population, is among the most environmentally intensive crops. Flooded rice fields contribute 1.5–2 per cent of global greenhouse gas emissions—comparable to those from the aviation industry—and use 3,000 to 5,000 litres of water per kilogram, significantly more than other major cereals.

Eratani’s integrated approach aims to tackle these environmental challenges while enhancing food production efficiency. Eratani, Co-Founder and CFO Bambang Cahyo Susilo, explained that by utilising data-driven insights, the company is able to manage risk more effectively and support smarter decisions for farmers.

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Image Credit: Eratani

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Indonesia’s once-vibrant startup ecosystem endured a sharp contraction in 2024, with funding activity slowing to its lowest level in recent years. According to the Indonesia Tech Annual Report 2024 by Tracxn, the country’s total startup funding plummeted to US$323 million—a 75 per cent drop from the US$1.3 billion raised in 2023 and an even more pronounced 90.05 per cent fall from US$3.24 billion in 2022.

This dramatic downturn reflects broader global caution in venture capital (VC) spending, but also highlights local challenges unique to Southeast Asia’s largest economy. The most acute impact was felt at the late-stage level, where startups collectively raised just US$71.2 million. This figure marks a steep 91.95 per cent decrease from US$884 million in 2023 and a 95.84 per cent collapse from 2022’s US$1.71 billion.

Across the board, the Indonesian tech startup scene has encountered tightened capital flow. Early-stage and seed-stage startups have not been spared, signalling a systemic slowdown in the investment cycle. However, some pockets of resilience remain. According to the report, sectors such as fintech, enterprise applications, and insurtech have continued to attract investor attention, suggesting a selective appetite for scalable and financially sound business models.

Beyond private equity funding, exit activity also witnessed a decline. Only one startup, Topindoku, made its public debut in 2024, raising US$34.9 million. This singular IPO illustrates the cautious sentiment prevailing in capital markets, where companies are holding off on public listings amidst valuation corrections and investor scepticism.

As traditional venture funding continues to retract, startups are increasingly exploring alternative avenues for growth capital. One such option gaining traction is corporate venture capital (CVC), often backed by major corporates and financial institutions.

Also Read: AI trade compliance startup Dutycast lands strategic funding from GTR Ventures

The CVC advantage

In contrast to conventional VCs, CVCs not only provide financial backing but also offer strategic advantages, including access to customers, go-to-market support, and brand credibility.

A Harvard Business Review article underscores the potential of CVCs in volatile markets. It notes, “These corporate investors offer not only funding, but also access to resources such as subsidiaries that can serve as market validators and customers, marketing and development support, and a credible existing brand.”

In Indonesia, where startups are grappling with funding scarcity and the need to demonstrate value early, such support can be vital.

Banks, too, are stepping up as non-traditional partners, especially those seeking to expand their digital portfolios or strengthen relationships with innovative enterprises. With extensive regulatory experience and existing customer networks, banks can offer a solid foundation for collaboration, particularly in fintech and adjacent sectors.

Despite current headwinds, Indonesia’s tech ecosystem retains underlying strengths. With a young, tech-savvy population, growing internet penetration, and increasing digitisation across industries, the long-term fundamentals remain intact. Yet the current funding winter is a reminder that capital efficiency, strong unit economics, and clear product-market fit are more essential than ever.

Looking ahead, the trajectory of Indonesia’s startup ecosystem will depend on how founders, investors, and strategic partners adapt to this new normal. The rise of CVCs and institutional collaborators may redefine what it means to grow a tech startup in Indonesia—shifting the narrative from high-velocity growth to long-term resilience and strategic value creation.

To understand more about this shift, do not miss the fireside chat “Investing in Innovation: The Role of Banks and CVCs in the Future of Indonesia’s Tech Ecosystem” at Echelon Singapore 2025, taking place on Tuesday, June 10, from 11:00 AM to 11:30 AM at the Forge Stage.

This session offers a timely deep dive into how banks and corporate venture capital arms are stepping in to support innovation amid Indonesia’s shifting funding landscape. Moderated by Shilpa S Nath, Founder of What The Fail, and featuring Eddi Danusaputro, CEO of BNI Ventures, the conversation will explore new strategies for sustainable growth, the evolving role of institutional investors, and what it takes to build resilience in uncertain times.

Entry is free—make sure to attend and gain key insights into the future of tech investment in Southeast Asia.

Get your passes here.

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As Southeast Asia’s (SEA) startup ecosystem continues to mature, Japan is emerging as a valuable and strategic partner in the region’s innovation economy. With its capital resources, corporate maturity, and increasing appetite for international collaboration, Japan’s engagement with Southeast Asian startups is gaining traction—offering opportunities for funding, technology transfer, and market access.

Japanese investors have historically maintained a cautious approach to risk, but recent years have seen a shift towards more active participation in global startup markets, particularly in Asia. A report by Startup Genome highlights Japan as one of the top five Asian countries investing in startups beyond its borders, with SEA standing out as a priority region due to its demographic advantages, digital growth, and dynamic consumer markets.

Japan’s presence in the region is driven in part by the country’s need to counterbalance its domestic challenges—namely an ageing population, a shrinking workforce, and stagnating internal demand. In contrast, SEA offers youthful populations, increasing mobile penetration, and high rates of digital adoption. For Japanese firms, partnering with SEA startups presents an opportunity to access fast-growing markets while contributing capital and experience.

NTT, one of Japan’s largest telecommunications companies, exemplifies this approach. Through its venture arm and corporate innovation initiatives, NTT has actively sought collaborations across the region, not only by investing in startups but also by co-developing solutions in areas such as smart cities, fintech, and AI.

Beyond individual corporations, institutional initiatives also support deeper ties between Japan and SEA. The Japan External Trade Organization (JETRO) has been instrumental in promoting cross-border partnerships through programmes such as the Japan Innovation Bridge (J-Bridge), which facilitates open innovation between Japanese companies and overseas startups. According to JETRO’s 2023 report, SEA accounted for more than 30 per cent of all startup collaboration projects involving Japanese corporates—a clear indication of growing interest in the region.

Also Read: Granite Asia, Integral form US$100M JV to drive Japan-global tech expansion

Japanese venture capital firms are also expanding their presence in SEA. Funds such as GREE Ventures (now STRIVE), Spiral Ventures, and Genesia Ventures have established local offices or dedicated funds targeting startups in Indonesia, Vietnam, Singapore, and beyond. These VCs are not just investing capital but also bringing a long-term, partnership-oriented mindset, which aligns well with founders seeking sustainable scaling strategies.

Despite the growing momentum, cultural and operational differences remain key challenges. Japanese investors often take a longer time to make decisions and place a strong emphasis on due diligence and relationship-building. For SEA founders, understanding and navigating these expectations is critical to building lasting partnerships. Conversely, Japanese corporates must be prepared to adapt to the faster pace and flexible structures typical of startups in emerging markets.

There are also sectoral synergies that make collaboration attractive. Areas such as fintech, agritech, mobility, and deep tech offer significant room for cooperation. Japan’s strength in hardware and engineering complements SEA’s digital-native startups, many of which excel in mobile-first platforms and service delivery. Together, they can co-create solutions tailored for both developed and developing markets.

Looking forward, the deepening ties between Japan and SEA’s startup ecosystems are likely to accelerate. Regional governments are increasingly supportive of international cooperation, and bilateral frameworks are being designed to encourage tech partnerships. As cross-border travel and business engagement return to pre-pandemic levels, there is optimism that these connections will translate into a more robust and integrated Asian innovation landscape.

Also Read: Vertex Ventures Japan launches with US$67M fund to propel Japanese startups globally

To learn more about opportunities for SEA startups in Japan, join us at the Future Stage on Tuesday, June 10, from 11:05 AM to 11:30 AM for the keynote speech “Beyond Borders: How Southeast Asia’s Startup Ecosystem Can Win with Japan.”

This free session will feature Ken Katsuyama, SVP and Head of Global Business at NTT, who will share expert insights on how SEA startups can tap into opportunities for collaboration, investment, and expansion with Japan’s tech and corporate ecosystem.

As regional markets become increasingly interconnected, this keynote offers valuable perspectives on building cross-border partnerships and driving innovation across Asia. Don’t miss this chance to explore new frontiers in regional tech growth.

Get your passes here.

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When it comes to adopting AI, not every business needs to reinvent the wheel or start from zero. Instead, leaders should take a step back and ask: Where does my organisation stand today?

The reality is businesses exist across a spectrum of AI readiness. Some are just starting to explore the concept of AI, while others are already using it to drive innovation and strategy. The key to success is to evaluate your current stage and take targeted actions to move forward.

Understanding your current level of AI maturity is the first and most important step. This approach saves time, money, and effort by aligning your AI strategy with your actual capabilities and business needs.

The five phases of AI readiness

Let’s break down the Enterprise AI Readiness Framework into simple terms and real-world scenarios. Each phase comes with specific goals and examples to guide your journey.

• Awareness: “What is AI, and why should we care?”

This is the starting point for many businesses. At this stage, the goal is to build awareness of AI and how it could apply to your industry. Educate leadership through workshops and seminars. Research potential AI use cases for your organisation. Identify areas where AI could solve real business problems. Studies show that 60 per cent of organisations are still in this early phase, with no formal AI initiatives in place.

Example: A manufacturing company exploring AI might learn that predictive maintenance can reduce downtime by 20-30 per cent, saving millions annually. But they first need to understand the basics of how AI works.

• Exploration: “Let’s test the waters with small projects”

Here, businesses start experimenting with small-scale AI projects. These are low-risk, low-cost pilots that demonstrate the potential of AI. Form a small AI team (e.g., one data scientist, one engineer). Test off-the-shelf AI tools and analyse pilot results. Gartner reports that 25 per cent of companies in this phase see measurable returns within six months of starting AI pilots.

Example: A retail company might pilot an AI tool to predict inventory needs. By analysing past sales data, they avoid overstocking, saving US$100,000 in a single quarter.

Also Read: Climate tech startups can play a role in helping SMEs bridge sustainability, digital transformation: Paessler

• Operationalisation: “Let’s formalise AI across the organisation”

At this stage, businesses move from pilots to building infrastructure for scalable AI adoption. This includes setting up governance, ensuring data privacy, and deploying AI in real-world use cases. Establish an AI Center of Excellence (CoE), build scalable data platforms (e.g., data lakes), and create governance policies for compliance. According to McKinsey, businesses in this phase see a 20 per cent improvement in operational efficiency.

Example: A healthcare provider adopts AI to analyse patient data, reducing diagnosis times by 30 per cent. They build a centralised platform to ensure all AI models meet regulatory requirements.

• Proficient: “AI is part of how we work”

Now, AI becomes integrated into daily operations across the organisation. Advanced monitoring systems ensure models stay accurate, and employees are trained to use AI tools effectively. Scale AI solutions across departments. Train employees to use AI in their roles. Monitor models for performance and fairness. Proficient organisations report a 30-50 per cent increase in productivity across functions using AI.

Example: An e-commerce company uses AI to personalise customer experiences, increasing average order value by 15 per cent. AI tools also optimise warehouse operations, cutting costs by 10 per cent.

• Leader: “AI drives everything we do.”

This is the ultimate level of AI maturity. Businesses here use AI as a core driver of strategy, innovation, and operations. Use cutting-edge AI techniques like generative AI and autonomous systems. Foster an AI-first culture with continuous employee upskilling. Only 10 per cent of organisations globally are at this stage, but they account for 70 per cent of all economic gains from AI.

Example: Tesla uses AI not only in its cars but also to optimise factory production, cutting manufacturing costs by 25 per cent. AI also drives innovation in R&D, creating entirely new product categories.

Why starting with assessment matters

Imagine this: You wouldn’t buy a Formula 1 car if you’ve only just learned how to drive. Similarly, jumping straight into advanced AI tools without the right foundation can lead to wasted investments. A survey by MIT found that 85 per cent of AI projects fail—not because AI doesn’t work, but because organisations weren’t ready for it.

Also Read: COVID-19, the environment, and the tech ecosystem: what opportunity is available out there for us?

By assessing your current maturity level, you can focus on actions that deliver real value. For example:

• Awareness phase: Focus on leadership buy-in and identifying high-impact use cases
• Exploration phase: Invest in small, measurable pilots to prove AI’s value
• Proficient phase: Scale AI efforts strategically, focusing on ROI

Practical takeaways for leaders

• Start small: If you’re in the early stages, start with one pilot project. For instance, try using AI to automate customer service through chatbots
• Measure results: Document your wins and challenges. Did your pilot reduce costs or improve efficiency? Use these insights to build momentum
• Think long-term: Advanced AI maturity doesn’t happen overnight. Focus on sustainable growth by investing in talent, infrastructure, and governance

The roadmap to AI success

So, where does your organisation stand today? Assess your readiness, align your strategy, and take the next step toward unlocking AI’s transformative potential. Remember, AI isn’t a destination—it’s a journey. And every journey starts with knowing where you are.

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For UK’s telecom and IT sectors, Agentic AI could be the new rainmaker. With its capabilities to understand, adapt, predict, and act independently, businesses can now unlock capabilities previously thought impossible. Imagine fully autonomous customer interactions, predictive operations, and dynamic system management – the possibilities are unlimited. 

According to Gartner, Agentic AI sits at the top, offering businesses a virtual workforce capable of offloading complex tasks. Pair this with AI governance platforms that enforce accountability, spatial computing for immersive decision-making, and energy-efficient computing to tackle sustainability goals, and we have a tech ecosystem built to redefine industries. 

Yet, UK’s telecom and IT sectors, while leading in AI adoption, are ill-prepared to take this leap into the future.

Leading in adoption but failing in impact?

For a decade, IT and telecom have been tinkering at the edges with digital transformation while the core problems remain untouched. Yes, they have adopted AI, and yes, they lead in implementation statistics, but barely 10 per cent of companies are taking these experiments beyond pilots, and at least 30 per cent are expected to abandon their pilots by the end of the year.

Every incremental innovation in AI is met with the same infrastructure bottlenecks, the same struggles with data readiness, and the same patchwork of tools and systems. Even as 87 per cent of operators integrate AI into their network operations, they remain hamstrung by the lack of high-quality data..

Let’s start with the problem. Each use case is tackled as a standalone project, requiring bespoke integrations, significant change management, and endless cycles of reengineering. This approach wasn’t scalable a decade ago, and it certainly isn’t now when the landscape is shifting at lightning speed. The Achilles’ heel of many enterprises is their existing infrastructure which is ill-equipped to meet the demands of an autonomous future. Most companies simply are not ready for this reality. 

The UK Government is creating AI zones hoping to create £45 billion (US$58.257 billion) in annual savings, but without addressing foundational gaps, this vision is at risk of falling flat. What is the ticket out of this decade-long stagnation?

Also Read: Navigating the AI shift in telecommunications: From promise to practical connection

A platform mindset is non-negotiable

For enterprises, becoming AI-first will be a sustained differentiator and a force multiplier. And that’s not going to happen if companies chase the next big use case or the latest tech or model in town. The only way to keep up with advancements is to adopt a unified platform that can accommodate any use case.

A platform-centric approach offers a composable, modular architecture that enables businesses to plug and play new AI technologies without disruption. It ensures scalability, flexibility, and speed. In a Forrester Consulting report commissioned by EdgeVerve, 70 per cent of companies said they believed a platform approach could help them achieve their top digital transformation goals.

It’s important to be clear: a platform is not just a tool. It’s a strategy. It’s what allows telecom providers to predict operational disruptions by deploying digital twins of their networks. It’s what enables IT leaders to cut time-to-market with intuitive AI interfaces that make even complex systems accessible to non-technical teams. It’s what transforms call centres into revenue drivers by embedding AI-powered hyper-personalisation into every customer interaction.

And a unified platform addresses the biggest obstruction to AI adoption: data readiness. By centralising and standardising data pipelines, it creates a single and complete source of truth. It also ensures that businesses can easily integrate new models and technologies without rebuilding their infrastructure from scratch.

How a platform approach enables applied AI at scale 

A platform approach sets the perfect stage for scaling AI while ensuring past investments don’t go to waste by building on what already exists and amplifying its impact.

Consider the customer service operations of one of the world’s largest telecom companies. Thousands of agents spread across geographies had to work with inconsistent processes, poor visibility into workflows, and a lack of actionable insights. This led to dissatisfied customers and underperforming teams.

Also Read: Telecommuting: what it is and how to make it work

But they found a way forward. Deploying a unified platform for process intelligence, they unlocked task-level insights, standardised operations, and improved agent productivity by 20 per cent, all without disrupting daily work.

Similarly, a global telecom giant was drowning in inefficiency, managing over 750,000 tower lease contracts riddled with complexities—non-standardised formats, hidden risks, and manual data extraction that delayed decision-making and introduced costly errors.

Leveraging a platform approach they automated contract reviews, extracting terms and clauses with precision while surfacing insights into risks and opportunities. The result was a US$21 million in savings, a 60 per cent productivity boost, and better negotiations powered by instant access to accurate, actionable contract data.

From use cases to infinite possibilities

The UK’s AI market is set to hit US$26.89 billion by 2030, with agentic AI leading the charge. Companies that are unable to apply AI at scale risk falling further behind, unable to keep pace with the demands of autonomous AI.

The path forward isn’t just about technology—it’s about creating a scalable foundation for innovation. Businesses that succeed will be those that integrate agility into their core, enabling them to adapt as AI technologies evolve. It’s no longer about chasing the next breakthrough but about being ready for whatever comes next.

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As we step into 2025, we will continue to see change in the way we work around the world, which is driven by global shifts in workplace culture, technological advancements, and new employee expectations. Hybrid work, digital transformation, and flexible workspaces are reshaping how businesses operate and how employees engage with their work.

These trends present new opportunities for countries like Malaysia, which is emerging as a key player in Southeast Asia’s business ecosystem. In this context, co-working spaces have become central to Malaysia’s strategy, providing flexible solutions that meet the needs of today’s workforce.

The evolution of work trends for 2025

Hybrid work has become commonplace, and we witnessed firsthand how it has transitioned to a permanent and long-term policy in some workplaces. Businesses are not only acknowledging that providing both hybrid and flexible work options is crucial for attracting and retaining talent, but they are also actively implementing new strategies to enhance this arrangement for their employees.

As hybrid work becomes entrenched, technology continues to play a pivotal role in shaping how businesses function. Innovations such as artificial intelligence (AI) and workplace automation are transforming co-working spaces, making them smarter and more efficient. This has created more job opportunities, specifically remote and flexible work.

For example, at WORQ, we leverage OfficeRND, a co-working space management platform that helps streamline shared workspace operations. We use this software, in particular, to enhance member experiences through AI, the Internet of Things (IoT), and workplace automation — offering features like automated room bookings, streamlined billing, and data-driven member insights.

In addition to that, we also provide solutions like All Access Pass and Flex Desk memberships for employees and our teams with rotational work schedules, optimising workspace subscriptions for companies.

A key trend set to shape the co-working industry in the coming years is the rise of wellness-focused space designs. This design focuses on biophilic elements, ergonomic layouts, and natural lighting to improve mental and physical well-being. Notably, our partnerships reflect this — from Sealy’s napping pods that promote rest to Snowfit’s massage chairs that provide moments of relaxation. Balak’s height-adjustable desks support healthy posture, while TTRacing’s ergonomic chairs deliver both comfort and style.

Hybrid-ready spaces will become the standard, blending the comfort of home with the productivity of an office. Flexible workspaces will cater to collaboration while also providing zones for focus and relaxation, addressing the diverse needs of teams in a hybrid environment.

Also Read: Creating an AI playbook that works in Southeast Asia

Another key trend we will be seeing that keeps growing stronger in 2025 is a renewed focus on environmental, social, and governance (ESG), particularly as businesses place more emphasis on diversity, equity and inclusion (DEI). There will likely be a stronger push to support underrepresented groups, such as people with disabilities and working mothers, in both workplace design and policy.

We expect flexible work to become a key focus for Southeast Asian governments as they explore various measures to increase birth rates and help families manage childcare concerns. In Malaysia, this is a step in the right direction — with initiatives announced in the Budget 2025 — several key initiatives that champion flexible work, persons with disabilities (PWDs), and helping women return to the workforce.

Malaysia, a strategic economic hub in the region

Malaysia has long been a key player in Southeast Asia’s economic landscape, with its strategic location, robust infrastructure, and skilled workforce making it a prime destination for global businesses. In recent years, the country has undergone a series of reforms to boost competitiveness, improve productivity, foster innovation, and advance digital transformation.

One example is the Malaysia Digital Economy Corporation (MDEC) Digital Hub Programme, designed to accelerate the nation’s digital economy by supporting tech startups, fostering innovation, and creating a collaborative ecosystem. The programme also focuses on developing digital talent through upskilling initiatives and offers support for businesses undergoing digital transformation, with opportunities in areas like AI, e-commerce, and blockchain.

These efforts are not only enhancing Malaysia’s appeal as a regional business hub but they are also offering a stable environment that supports growth and adaptability. The two main components needed to position Malaysia as an attractive hub for foreign investors in the region.

WORQ has been actively supporting these initiatives from the get-go by working closely with the DE Rantau team, an initiative spearheaded by MDEC. We have been hosting community events and networking sessions at our outlets, creating opportunities for business leaders and entrepreneurs to connect, share ideas, and collaborate.

How co-working spaces evolve and lead the way

Co-working spaces have significantly prompted businesses to rethink and reevaluate how they operate, while also revolutionising the office real estate market. As businesses embrace flexible work arrangements, short-term office solutions have surged.

One thing co-working spaces provide is the ability to scale up or down without being tied to long-term leases, providing the agility needed in today’s fast-paced environment. In addition to that, these spaces foster and encourage collaboration and innovation by bringing together a diverse community of entrepreneurs, freelancers, and SMEs from all over the world in one hub.

Also Read: Can co-working spaces change Malaysia’s work habits?

At WORQ, repurposing unused office spaces into dynamic co-working environments is a key strategy in reshaping the traditional office market. By optimising existing real estate, we provide businesses with the flexibility they need to grow while fostering a thriving ecosystem for startups and small enterprises. This approach not only supports business innovation but also strengthens the local economy.

Building a resilient workforce for the future

Malaysia stands at the forefront of the evolving future of work in Southeast Asia. With its strategic location, forward-thinking policies, and growing co-working ecosystem, the country is well-positioned to lead the region into 2025 and beyond. By embracing flexible workspaces and hybrid work models, Malaysia is not only enhancing its business environment but also attracting global talent and fostering innovation.

Flexibility is key to resilience. Businesses that adapt and embrace continuous improvement stay competitive, as reflected in our value of adapt, improve, repeat. Prioritising people by fostering trust, inclusivity, and collaboration strengthens both employees and communities.

As we move towards the future, businesses, policymakers, and workers must work together to embrace the opportunities presented by flexible work and co-working spaces. Through collaboration and a commitment to innovation, Malaysia can continue to build a resilient and sustainable workforce for the future.

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In our tech-saturated modern world, Small and Medium Enterprises (SMEs) face growing pressure to keep pace with a rapidly evolving market. Today, many SMEs rely on Software-as-a-Solution (SaaS) platforms to address operational hurdles, e.g. F&B businesses using cloud point of sale (POS) systems for order management or beauty and wellness studios using platforms to streamline bookings and memberships.  

Not all of these solutions are created equal. The right platform must enable SMEs to focus on their core business. Apart from operational needs, a key functionality that SMEs are seeking from their platforms is payments.

Instead of managing the relationship and integration with the payments providers themselves, SMEs are now ready to use embedded payment services by their platforms – integrating payments into their full business process. This spells an opportunity for SaaS platforms looking to attract and retain more users.

Indeed, interest in embedded payments in platforms has surged to nearly 74 per cent globally, up from just 34 per cent already using them. With SMEs making up 99 per cent of all businesses in Singapore, addressing these payment needs are essential. The question for SMEs to consider is how their platform of choice is able to connect them to tangible business value.

Simplify operational complexities with the embedded payments

As platforms rapidly shift to become a crucial component in the game of business, SMEs must be cognisant of how their chosen platform can serve them beyond their immediate needs, such as that of payments.

Also Read: SEA’s US$325B e-commerce surge: What it means for merchants and payment providers

Traditionally, SMEs are referred by their platforms to payment service providers (PSPs), leaving them to assemble solutions that fit their business and rely on third-party system integrators to accept payments. This model is more often than not, time-consuming for SMEs as they need to integrate and troubleshoot with multiple support desks. This does not have to be always the case.

SaaS platforms can take control of their payments offering by embedded payments and processing payments natively. Since payments and financial services are run on the same platform, payouts to platform users (the SMEs) are instant, reconciliation can be automated, and additional financial services can be added to the users’ needs. Essentially, SMEs can run their business, sell, and get paid all in one place. 

Ramp up your business with the right SaaS platform provider 

SMEs are often limited by the technology of their payment service provider and left with limited payment methods and solutions. But if their platforms embed payments with the help of a robust payment partner, SMEs would be able to accept local and global payment methods easily. Accepting global payment methods means end-customers can pay wherever they are, with whatever method they prefer.

A prime example is Fresha, a global leader in booking software in the beauty and wellness industry. By leveraging Adyen’s financial technology, Fresha allows its beauty and wellness business users to accept global payment methods from their diverse clientele. Today, payments from global card schemes like American Express are natively accepted anywhere with Fresha’s platform users, both online and in-person.

Working with Adyen also means that Fresha can automatically offer its users affordable and innovative solutions like Tap to Pay or other mobile terminals that fit the needs of the beauty and wellness industry. Such solutions are cost-effective as SMEs can simply activate their own mobile device to accept payments from end-consumers.

Closer to home, there is also Aigens, a Hong Kong-based F&B SaaS provider, catering to the Hong Kong and Singapore markets. Aigens offers its F&B users like Swee Choon, and Louisa Coffee a comprehensive suite of payment solutions designed to enhance customer experiences and improve overall efficiency.

Also Read: Asia’s payment evolution: 5 trends shaping the 2025 landscape

By adopting these solutions, diners can easily place orders through their preferred channels, resulting in shorter queues and higher customer satisfaction. Notably, Louisa Coffee has achieved improved authorisation rates, averaging 98% over the past nine months.

Growth and going beyond borders

Once SMEs have built a strong foundation in their local market, naturally, many will look to grow and expand their business abroad. However, their willingness to embrace innovation, adapt to local cultures and leverage digital tools will determine their ability to seize new opportunities. Being on a platform that already integrates payments technology democratises access to payments innovation and resources, empowering SMEs to compete on a global scale.

Whether through online marketplaces, social commerce, or integrated e-commerce solutions, it provides SMEs with the ability to reach customers beyond their immediate geographic area, tapping into new markets with lesser overheads. Many platforms also partner with financial institutions to offer embedded financing services, giving SMEs access to working capital, loans, or alternative financing solutions.

These options help SMEs bridge cash flow gaps, invest in growth initiatives, and navigate periods of economic uncertainty. This ultimately enables SMEs to diversify their customer base, reduce dependency on local economies, and access new segments that were previously unattainable.

The future of SMEs will hinge on their ability to adapt swiftly and harness digital ecosystems. As the business landscape continues to evolve, those that successfully embrace innovation and integrate these platforms will be well-positioned to drive sustainable growth, enhance competitiveness, and thrive in an ever-changing market.

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Nothing tells you more about a company’s culture than when times are tough. One of those times can be when sales are not running to plan.

If you’ve spent any time in sales, it’s very likely that you have, at some point, sat through an emergency meeting where the leader sounded the alarm and demanded action from the sales team to produce more sales. The leader comes in, explains how far short of the target the team is, and, in the case I recall, demands activity, immediate and increased cold calling, for example, to drop new opportunities onto the pipeline. A morale-sapping moment, ‘Hello pressure, my old friend,’ but also a realisation that perhaps something is not quite right in the go-to-market approach.

That feeling of something not being right is worth exploring. Honestly speaking, and particularly if your typical deal cycles are long, such a crisis meeting is usually a signal that you are in a feast or famine business. Prospecting should be a consistent element of any sales operation and should utilise numerous channels, suddenly hitting the phones for many businesses; however, it is not going to fix a revenue crisis suddenly.

For some businesses, maybe, but in the business-to-business environment, I recall, any positive results coming from an intense prospecting round mid-way through the year would only show results in the second quarter of the next financial year. By this stage, things may already be too late, and a turnaround situation might be underway in terms of securing new commercial leadership to totally reset things.

This kind of directional crisis should certainly point to wider issues at play beyond the immediacy of needing new business to drop onto the profit and loss. It certainly speaks to an organisation that is solely relying on salespeople for the fix. I would wager in these cases, that there is a very administrative sales leadership that is looking retrospectively at the pipeline and results, with no creative analysis to support the team.

The experience for the team member therefore is going to be one whereby the realisation is that they are now set up for a sustained period of pressure, but equally, that leadership is not going to contribute to this experience changing any time soon.

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Navigating pressure and talent retention

Goes without saying, if things have reached this point, sales will not be a fun environment to be in, particularly if your leaders are directionally focused in their style. Sales can be seen to be scapegoated by management, which can begin to widely convey a sense that sales is broken, sales isn’t delivering.

It’s like trying to cure the illness by focusing on the symptoms alone, whilst adding another challenge to those trying to perform, pressure. Pressure like this is not likely to lead to sustainable solutions as it can easily lead to unsustainable activity for activity’s sakes.

In the situation I recall, the team went into two modalities, first of all, they immediately started prospecting, for new roles, elsewhere. The challenge gets incrementally worse if your talent is leaving, as it usually takes a new joiner six months to hit their stride. This is only going to contribute to the need for a reset.

Secondly, there was a panicked and unstructured shotgun approach to the increased sales activity. Folks reacted by trying to bring in any prospect, any deal, to avoid the spotlight. Ever noticed environments where a lot of the won business ends up contributing very little or nothing to the bottom line, for example, resulting in these accounts eventually, down the line, being cut? There is a better way.

Strategies for long-term growth

So what is the alternative? How best to avoid this scenario and how best to set up your sales for success, whilst building exceptional teams? How to break month by month, quarter by quarter, financial year to financial year survival approaches to market, and instead to inspire a transformation toward an environment focused on longer term exceptional growth?

The first step is for the commercial leadership to implement a thorough analysis of the business, to become the detectives to analyse the strengths, weaknesses, opportunities and risks, alongside what is needed to be true to win, including any big bets to back in order to either take the pressure off, or find new commercial opportunity. This effort has to include a clear understanding of what the winning use cases are, so that more sustainable and structured market activity can be effected by the sales team.

One obviously needs within this to also know what the pipeline data is telling us. Is the problem really finding new opportunity, which may take months to close, or are there ‘focus and finish’ opportunities within the existing mature opportunities? Part of this is to also understand if inefficiencies can be eliminated through streamlining onboarding and implementation processes to get signed clients to revenue quicker.

Ever worked at an organisation with no evident go to market plan? It’s not as uncommon as it sounds, though this responsibility sits squarely on the shoulders of the commercial P&L owner. One way to avoiding famine and feast is to move from a quota driven environment to a mission led one, with clearly articulated, universally understood go-to-market planning.

When leadership communicate this across functional departments, within their teams and to leadership, they have a better chance to bind their sales team, (and others,) to the mission, as well as helping them to focus and finish on finding repeatable and profitable business in a structured, sustainable way.

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The timing of sales planning and budgeting is also critical. Starting the annual budgeting process in the third or last quarter of the current financial year is key, as is asking individual sales team members to build their own sales plans, which can then be married to the top down budget and ambition. Involving them in the inevitable brainstorming to achieve gap planning is also important.

This is the beginning of breaking the boom and bust, because you can start the year with a plan, one that your team believes in, as they part authored it. The exercise also confers the responsibility on the team to think creatively about their individual businesses, and will have allowed you to identify the pivotal deals you’ll want to put down early in order to jump start the year.

It is highly unlikely that all of your planned outcomes will come off as originally conceived, especially if you are in complex industries. This is why it is essential to revisit your planning and to think of those plans as living documents. Your cadence  of weekly, (or bi-weekly,) monthly and quarterly sales meetings, should also go deeper than a simple ‘what are you committing to bring in this month,’ type of dialogue.

Create time with the team that supports their prosecution of the year, and helps you to understand where you can help. Ensuring you cover tactical, deeper dive analysis of why you are winning or losing, pipeline analysis, looking back to understand ‘what did we do right? where did we go wrong? what can we change?’ can also be undertaken to ensure that any course correction would be discussed and implemented as a team, with full understanding of the implications of the current speed of travel and focus.

Good data, cadence, and monitoring help you identify the need to tweak the plan, if required. It is also good to bring the team into the process. Present the challenges and brainstorm with them on ways to find solutions. Don’t be reactive, constantly digging into retrospective reports, forecast well instead, so you have a true sense of direction.

In so doing, pivots can become less stressful, and more creative environments can be forged, whereby you engage all in the business of identifying how, and what shifts or changes of emphasis might be necessary to sustainably win. Always focusing back to the ideal case study, the most profitable customer, and how to find and repeat this kind of business is key to a structured approach.

Once the direction is set, aligned, and communicated, then the leader can work to free their people to do their best work. When this go-to-market approach is then fused to the people element, you have the beginnings of a self-sustaining culture. Add to this a three to five year vision for the growth of the business and you potentially have a journey people will stay for. By changing the dynamic from directional leadership to people first-leadership you can kickstart a focus on behaviours which create culture leading to results.

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This article was first published on September 3, 2024

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Singapore- and Hong Kong-based safety artificial intelligence (AI) startup viAct has closed a US$7.3 million Series A funding round led by Venturewave Capital, an Irish impact investing firm.

Other participants in the round included Singtel Innov8, Korea Investment Partners, and PolyU Entrepreneurship Investment Fund.

The new funding, which exceeded viAct’s initial target of US$6 million, will be strategically deployed to advance viAct’s AI capabilities, focusing on more sophisticated models for hazard prediction, environmental compliance, and workforce safety in heavy industries.

Also Read: Workplace safety getting a tech makeover with AI

The latest funding round will fuel its growth into regions like the Middle East and North Africa (MENA) and Europe, further accelerating its efforts to reshape industries with technology that fosters safer, more adaptive, and eco-conscious workplaces.

Founded in 2016, viAct has built a holistic ecosystem of AI-powered technologies, with its “Scenario-based Vision Intelligence”, AIoT, and edge-generative AI solutions to enhance job-site safety and productivity for heavy industries. The firm aims to catalyse transformative impact by redefining paradigms of safety, operational excellence and sustainable innovation across risk-prone workplaces such as construction, oil and gas, manufacturing, facility management, and mining industries.

viAct’s innovations are vital for contractors, manufacturers, and enterprise leaders worldwide as industries embrace automation. Its “Scenario-based Vision Intelligence” solutions have been implemented across hundreds of organisations in sectors, including construction, oil & gas, manufacturing, and mining.

According to a press release, viAct averted thousands of workplace incidents and improved efficiency by double-digit percentages.

Gary Ng, Co-founder and CEO of viAct, stated: “We envision a future where construction is synonymous with innovation, safety, and sustainability. With our cutting-edge AI solutions, we aim to empower every stakeholder to achieve unprecedented levels of efficiency and responsibility.”

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Kum Tho Wan, Managing Director of Singtel Innov8, added: “viAct’s AI-powered platform can leverage 5G networks to enable real-time monitoring, instant alerts, and data-driven insights. By integrating AI with 5G connectivity, viAct enhances operational efficiency, ensures timely and proactive hazard detection, and helps create safer, more responsive work environments.”

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