Southeast Asia’s (SEA) economic development is at odds with the necessary climate trajectory. With rapid urbanisation, over 100 million people are projected to migrate to cities by 2030. While these urban dwellers will be an important catalyst for economic expansion, they will also be contributors to an unprecedented surge in energy demand — projected at a staggering 42 per cent increase anticipated over the next decade. 

The twin challenges of the built environment sector in SEA

The built environment is one of the planet’s most pollutive sectors. It currently accounts for approximately 39 per cent of global CO2 emissions. Despite the urgency to address climate change, obstacles persist. Escalating energy price volatility and rising interest rates hinder investments in building decarbonisation efforts.

As a consequence, the sector is veering off course from its decarbonisation pathway and is unlikely to reach net zero by 2050 without immediate and decisive action, The gap between actual climate performance and the necessary trajectory for decarbonisation continues to widen.

SEA is also particularly vulnerable to climate change, facing rising temperatures and sea levels. While decarbonising buildings toward net-zero emissions remains a significant challenge, the accelerating impact of climate change on our cities and homes is deeply concerning, including rising mean and variance of temperature, increased precipitation, humidity, wind patterns, and solar radiation.

Globally, April 2024 sets a new record as the hottest month ever recorded, marking the 11th consecutive month of unprecedented global warmth. The region’s extensive coastlines and low-lying areas make us susceptible to extreme weather events such as typhoons, floods, and heatwaves. These events pose threats to environmental degradation, exacerbate greenhouse gas emissions, impact economic productivity, and endanger human health and safety. The escalating temperatures drive excessive air-conditioning use, further contributing to global warming.

In Jakarta,  excessive groundwater extraction is causing the city to sink, prompting the government to relocate its capital. In Singapore, the government has established a US$5 billion fund to mitigate coastal erosion and flooding risks. The Philippines government’s Department of Environment and Natural Resources has also completed resilience roadmaps for 16 vulnerable areas to guide disaster risk management and climate resilience efforts.

Regulations and certifications in built environment space

Given the significant challenges related to decarbonisation and climate resilience faced by the built environment sector, SEA lacks mandatory building regulations, contributing to slow progress in decarbonising the built environment. However, the situation is gradually changing.

Green building certifications, such as the Green Building Index, Green Real Estate, Leadership in Energy and Environmental Design (LEED), and BREEAM are gaining traction. These certifications evaluate the sustainability attributes of buildings and provide recognition for environmentally responsible practices.

Also Read: Balancing act: Carbon Balance’s quest to tackle climate crises with tech-driven sustainability

They assess various criteria, including energy consumption, greenhouse gas emissions, water usage, waste management, and occupant health and well-being. Although these certifications are primarily voluntary, the demand for them is increasing for several reasons:

• Sustainability policy of tenants: Companies and individuals are increasingly aware of the environmental impact of their actions, leading to a rising demand for sustainable practices, including green buildings. This trend is particularly driven by global Fortune 500 companies, where institutional shareholders demand greater sustainability practices that trickle down to procurement functions when in search of real estate offices. Moreover, leading regional enterprises are also adopting these practices to attract institutional investors and retain their best employees.
• Availability of green loans: Building construction is a competitive and capital-intensive industry where access to affordable labour, materials, and financing is essential for profitability and success. The availability of green loans with lower interest rates encourages developers to construct new green buildings. The Malaysian government actively promotes green building investment through policies and schemes, such as the Green Technology Financing Scheme, which incentivises sustainable practices.
• Lower operating expenses: Potential savings from efficient operations serve as an attractive incentive for tenants. Heating, ventilation and air-conditioning (HVAC) and lighting make up 60-70 per cent of energy costs. Hence, energy-efficient designs, renewable energy sources and smart technologies in these areas can reduce utility bills for occupants in the long term. In an economic environment marked by high cost of capital and cost cutting, lower operating expenditures could better retain tenants.

Green buildings, certified by third parties, represent valuable assets and attractive business opportunities. They have the potential to generate higher revenue by attracting and retaining high-quality multinational clients.

Additionally, their lower operating costs, thanks to more efficient use of energy, and reduced cost of financing, drive further demand and innovation for building decarbonisation and climate resilience.

Therefore, it is no secret that such coveted certifications are highly sought after by real estate owners like Capitaland, Ayala Land and IJM Land. A portfolio of green buildings is now considered a compelling and fast-growing business segment. 

To be clear, they are not perfect either. According to a report “Seeing is Believing, Unlocking the Low-Carbon Real Estate Market” by Systemiq released in June 2024, it identifies two major issues with 3rd-party certifications and ratings:

• Inconsistency with decarbonisation pathways: Analysis showed that there is no clear correlation between certified assets and better energy performance, indicating potential gaps in these independent assessments. Many of these tools do not have a target that is consistent with 1.5 degrees Celsius pathways. 
• Lack of transparency on carbon and energy performance: Major certification bodies offer limited insights into how their building portfolio performs against energy use and carbon emissions. 

The implication is that such factors might be muting demand signals for low-carbon buildings, resulting in a lack of confidence to invest in truly sustainable buildings. However, this is changing and major certification bodies like LEED and BREEAM are updating their schemes to be more transparent and ambitious. While the progress is highly encouraging, there is still more to be done to be on track for the 1.5 degrees Celsius pathway. 

Decarbonising our building infrastructure

One critical area for achieving green building status involves reducing GHG emissions. These emissions from buildings can be categorised into two main aspects. 

Embodied carbon emissions

These are emissions resulting from the raw material extraction, production, supply chain and installation of building materials such as cement, glass and steel structures. New building projects are estimated to generate approximately half of their emissions from embodied sources. Strategies for decarbonising embodied carbon emissions include offering substitutes for raw materials and adopting green building products such as green cement and steel.

Notably, this opportunity is massive at some US$20-30 billion in Southeast Asia, requiring significant capital expenditure and working capital. Therefore, venture capital investments alone will not suffice; debt and infrastructure funds will be necessary.

Some startups innovating in this space include:

• Neocrete, a New Zealand startup, uses a proprietary additive to enhance concrete properties while reducing carbon footprint.
• CarbonCure injects recycled CO2 into concrete during the mixing process and repurposes buildings as carbon storage.
• H2 Green Steel is a Swedish startup that produces steel using hydrogen made from renewable energy instead of coal.

Despite their potential, these innovations currently come at a higher cost compared to conventional materials, necessitating further engineering and economies of scale to reduce costs for mass adoption.

Operating carbon emissions

These are emissions from building operations like energy consumption such as HVAC and lighting which collectively contribute to c.70 per cent of operating emissions. These operations contribute to the other half of emissions from the built environment. Decarbonising building operations presents a combination of asset-intensive and asset-light opportunities and represents a US$10-20 billion addressable market.

Also Read: On the sustainability of AI: Why measuring digital carbon emissions is key to a greener future

New HVAC systems such as district cooling require a significant upfront investment but there are also automation and optimisation software which can enhance the efficiency of traditional HVAC systems. Artificial intelligence and automation play enabling roles in enhancing real-time human comfort, optimisation and energy consumption efficiency.

Additionally, there is potential for creating carbon-negative operations such as the installation of solar panels on building surfaces using innovative photovoltaic technology to generate excess energy beyond immediate needs.

Notable homegrown startups in the region include:

• uHoo specialises in indoor air quality and temperature monitoring to measure various air quality parameters ensuring a healthy and comfortable environment.
• SensorFlow measures the energy consumption of boilers and chillers and correlates the measured consumption with heating and cooling demand.
• Solano Energy deploys new energy assets forming a distributed energy resource management system enabling every building owner to produce and store renewable energy.

Despite these innovative solutions, challenges related to incentives and financing remain during implementation.

Building for a new climate norm

As temperatures rise and extreme weather events become more frequent, we must rethink and enable the design of our built environment. Unlike decarbonisation, strategies to defend against climate catastrophes require a comprehensive approach involving a broader range of stakeholders and public-private partnerships.

• Policymakers: City officials, particularly in areas prone to climate disasters, must prioritise upgrading early warning and communication systems using digital infrastructure. Additionally, urban vegetation and improved water management strategies can help manage heat waves while enhancing coastal defences against rising sea levels. These measures not only protect communities but also improve urban liveability.
• Building Managers: Given prolonged heat waves in Southeast Asia, building managers will face increased cooling demands and peak loads. The implementation of energy-efficient cooling systems and the adoption of smart building technologies will be crucial in reducing energy consumption and maintaining occupant comfort.
• Construction companies and real estate developers: Architects and civil engineers should scrutinise new building designs and review existing material selection to withstand harsher environmental conditions. Project managers must also account for delays caused by extreme weather events, adjusting timelines and budgets accordingly.
• Insurers and Financiers: They need to prepare for more frequent natural catastrophes by incorporating new longitudinal climate data into their underwriting frameworks. National grants may also be made available for disaster management and relief support for affected communities

These are a new set of challenges that come with climate change. Fortunately, there are already startup founders with long-term vision who have been already working on these problem statements to tackle such opportunities.

• Komunidad harnesses the power of data and analytics to help enterprises and governments tackle the risks of climate change.
• Nafas provides businesses with a flexible & data-driven way to provide healthy air quality to their employees and customers against low air quality.
• IBISA’s parametric insurance offers end-to-end resilience to protect businesses and communities against climate change-induced natural catastrophes.

It is essential to recognise that not all climate adaptation opportunities in the built environment are suitable for venture capital investments. Nature-based projects, such as urban vegetation and mangroves, play a crucial role in defending against extreme heat and coastal erosion. Infrastructure developments, like coastal walls and drainage systems, are equally important.

Professional services, such as innovative building designs and material selections by architects and civil engineers, contribute to the total solution universe but may not align with climate venture capital investments.

How VCs are catalysing innovation

The increasing prevalence of green buildings and challenges of climate change are opening up vast opportunities for sustainable innovation within the built environment sector across all areas like, 

• Embodied carbon emission
• Operating carbon emission
• Re-thinking building in a new climate norm

Also Read: Meet the 4 SEA startups of PepsiCo’s climate tech accelerator programme

Consequently, this sector is drawing substantial venture capital investments to capitalise on this trend. For example:

• Proptech and real estate VC fund Fifth Wall had closed US$500m for its 1st climate fund in 2022, underscoring the sector’s potential impact on climate solutions.
• Australia’s proptech manager, Taronga Ventures, had closed US$170m to focus on the ESG space, far exceeding its original target of US$50m. Their commitment highlights the growing interest in sustainable real estate solutions. 

There is also no lack of successful startup stories:

• Brimstone was selected by US DOE for an up to US$189m award to build a commercial-scale facility that will demonstrate the start-up’s novel technology at scale for the very first time.
• Closer to home, Accacia, an India-based decarbonisation platform for real estate and infrastructure, has closed a US$6.5m Pre-Series A round from Illuminate Finance, Accel and B Capital.

These opportunities coupled with strong macro and ESG tailwinds in Southeast Asia meant that the built environment will be one of the focus areas for our fund. Some of the key themes that are explored (non-exhaustive) may include:

• Digitalisation: Deploying next-generation software to supplant outdated systems like building management systems.
• AI-led optimisation and analytics: Empowering building managers to leverage AI for heightened energy efficiency, minimised waste, and optimised resource utilisation.
• Material innovation: Introducing novel sustainable materials, including cooling-effect paints, transparent solar panels as glass substitutes, and carbon-negative cement.
• Resource management: Covering critical areas such as energy storage, waste stream processing, indoor air quality and water conservation.
• Hardtech: Investing in hardware advancements, including sophisticated sensors, IoT devices and solar panels to revolutionise the built environment. 

Challenges in adopting innovative solutions

While clear problem statements, compelling business cases, and available solutions are essential, they do not always guarantee swift adoption in the built environment sector. This industry is notorious for its slow-moving momentum, which can be frustrating for startups and investors.

Some of the challenges include:

• Legacy challenges: Many existing buildings and infrastructure operate on legacy systems. Integrating these systems seamlessly with new technology can be challenging. Retrofitting old buildings often proves to be more expensive than constructing new ones, especially in high-cost markets like Singapore—even after accounting for carbon emissions.
• Lack of/inconsistent regulation: Inconsistent and unclear policies across the region hinder the creation of a robust incentive or penalty framework. Such a framework is crucial for accelerating the adoption of new technologies. Without regulatory alignment, stakeholders may hesitate to invest in innovative solutions.
• Lengthy adoption cycles: Building materials like concrete and steel are critical for structural integrity. Replacing these conventional materials requires extensive testing to ensure strength, workability, and durability. Consequently, implementation cycles can become lengthy, delaying the adoption of alternative materials.
• Economic challenges: Many new solutions haven’t achieved the economies of scale necessary to compete with conventional materials in terms of cost. HVAC upgrades, for instance, are typically planned well in advance, leaving little room in the budget for exploring alternatives beyond fixed-asset schedules.
• Lack of awareness: Stakeholders, ranging from building owners to occupants, may not fully grasp the benefits of green solutions or be aware of the available options. Some sustainable solutions are perceived as risky or unproven. Demonstrating their reliability and effectiveness is crucial for overcoming this perception.

In navigating these challenges, collaboration among industry players, policymakers, and investors is essential. By addressing these roadblocks collectively, we have a better chance to accelerate the adoption of innovative solutions and create a more sustainable built environment.

Partnership for win-win with Keppel

Given the aforementioned challenges and the nascency of the sector, The Radical Fund has partnered with Keppel Real Estate Group to tackle decarbonising the built environment sector. A division of Keppel Corporation, Keppel Real Estate is a global asset manager and operator with expertise in sustainability-related solutions across infrastructure, real estate, and connectivity.

It has been recognised for delivering innovative urban space solutions that leverage technology to create sustainable and customer-centric developments. Their commitment to building responsibly and sustainably is evident in their approach to creating real estate solutions that mitigate climate change and enhance lifestyles and businesses.

The firm recently closed a US$1.7 billion sustainability fund to upgrade existing assets and invest in value-add platforms that create greener cities and work to reduce the negative impact of climate change. 

Keppel Real Estate’s strong capabilities and deep experience in the area of real estate, its sharp focus on sustainability and its captive portfolio of commercial and industrial real estate assets offer a compelling green lane to test bed and pilot the solutions of our startups.

Together, we aim to accelerate the adoption of cutting-edge technologies that address climate-related challenges while establishing a foundational proof-of-concept to scale promising solutions relevant to the real estate development and built environment sectors. We are also actively partnering with co-investors and debt providers to catalyse climate innovation in SEA. 

The Radical Fund is seeking business models that are capital-light while delivering a twin strategy of scaled commercial and climate impact. Please reach out to us for feedback or comments regarding the built environment industry in Southeast Asia or share your startup here.

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The humanoid robot sector is at a transformative juncture, driven by rapid advancements in artificial intelligence and robotics. This dynamic field is not only growing in size but also in complexity and influence across various industries.

Humanoid robots: A new era of industry integration

Humanoid robots, characterised by their human-like form and advanced capabilities, are becoming indispensable tools in industries ranging from healthcare to manufacturing. Their ability to perform tasks with high precision and autonomy is reshaping traditional workflows and opening new avenues for innovation.

This is particularly evident in sectors where human-like interaction and adaptability are crucial, such as healthcare and education. For instance, robots like PEPPER and NAO are enhancing patient care and educational outcomes by providing emotional support and interactive learning experiences.

Technological advancements driving the sector

The integration of AI into humanoid robots has been a game-changer, enabling these machines to perform complex tasks that require cognitive abilities and decision-making skills. The use of Large Language Models (LLMs) and Visual-Language Models (VLMs) has significantly enhanced the cognitive and interactive capabilities of these robots.

Also Read: How to revolutionise the banking and finance industry with Robotic Process Automation

Our research indicates that advancements in AI and sensor technology are pivotal in making humanoid robots more autonomous and versatile, allowing them to adapt to and learn from their environments.

Market dynamics and investment opportunities

From a venture capitalist’s perspective, the humanoid robot market presents a compelling investment opportunity. The sector is witnessing substantial growth, with Asia leading the way in adoption and development.

Significant investments from countries like Japan, South Korea, and China are driving innovation and setting the stage for global market leadership. According to our research, the humanoid robot market is estimated to be worth approximately US$3-5 billion as of 2024, with projections indicating even greater expansion in the coming years.

The humanoid robotics sector has already attracted significant investment, demonstrating strong confidence from both strategic and venture capital investors.

Notable funding highlights include:

• Figure: Raised US$675 million in a Series B round from prominent investors including OpenAI, Nvidia, Microsoft, Bezos Expeditions, and Samsung Ventures. This funding underscores the market’s potential and the confidence major tech players have in the sector’s growth.
• Sanctuary AI: Secured investment led by Accenture Ventures, contributing to its approximate valuation of US$300 million. Sanctuary AI’s focus on creating versatile, autonomous humanoid robots is driving significant interest.
• UBTECH: Achieved a valuation of US$10 billion following its IPO on the Hong Kong Stock Exchange. UBTECH’s focus on integrating advanced AI and robotics for consumer and industrial applications is a key driver of its market valuation.
• 1X: Raised US$100 million in a Series B round led by EQT Ventures, highlighting the ongoing investment in innovative robotics companies aiming to enhance efficiency and safety in various environments.
• Boston Dynamics: Known for its advanced mobility and balance capabilities, Boston Dynamics was acquired by Hyundai for approximately US$1.1 billion, demonstrating the strategic importance of robotics in industrial applications.
• Agility Robotics: Raised US$170 million in a Series B round to further develop its Digit robot, which is designed for package delivery and logistics.

These investments highlight the strong momentum within the humanoid robotics sector and the substantial financial backing that key players are receiving to drive innovation and market growth.

Opportunities for startups and industries in Southeast Asia and Taiwan

The wave of humanoid robotics and the influx of investments present a unique and timely opportunity for startups and industries in Southeast Asia and Taiwan. These regions are rapidly becoming hotbeds for technological innovation and entrepreneurship, supported by strong governmental policies, a thriving startup ecosystem, and significant investments in tech infrastructure.

Also Read: AI revolution: Balancing human empathy and robotic efficiency in customer service

For Southeast Asia, the adoption of humanoid robots can drive productivity and efficiency across various industries, from manufacturing to service sectors. Countries like Singapore, Malaysia, and Thailand are well-positioned to leverage these technologies to enhance their industrial capabilities and competitiveness on a global scale.

Additionally, the region’s young, tech-savvy population and growing consumer market make it an attractive ground for developing and deploying humanoid robotic solutions. Looking over to Taiwan, with its robust semiconductor industry and strong technological base, plays a crucial role in the development and manufacturing of advanced robotics components.

Synergies and collaborative potential

The collaborative potential between Southeast Asia and Taiwan is immense.

By combining Taiwan’s technological expertise with Southeast Asia’s diverse market needs and dynamic startup environment, there is a significant opportunity to drive innovation and create scalable solutions. Joint ventures, research partnerships, and cross-border investments can catalyse the development of humanoid robots, making the region a global leader in this transformative field.

At Hive Ventures, we are committed to supporting these synergies and fostering collaborations that leverage the strengths of both regions. By bridging the gap between technology and market application, we can accelerate the adoption of humanoid robots and unlock new opportunities for startups and industries across Southeast Asia and Taiwan.

Future outlook: A vision for 2035

Looking ahead, the next decade will be crucial for the humanoid robot industry. Achieving economies of scale and reducing prices to the US$20,000 – 150,000 level will be key to driving mass adoption.

At Hive Ventures, we believe that by 2035, the humanoid robot market could generate substantial revenue, with applications expanding into consumer markets and beyond.

The integration of generative AI technologies will further enhance the cognitive capabilities of these robots, making them indispensable companions and helpers in various settings.

Final thoughts

The humanoid robot sector holds immense promise, with the potential to revolutionise industries and enhance human-machine collaboration. As venture capitalists and industry observers, we are excited about the opportunities and advancements in this space.

Our research at Hive Ventures underscores the transformative potential of humanoid robots and the critical role they will play in shaping the future of technology and industry. We are committed to supporting and investing in this innovative sector, anticipating a future where humanoid robots become a ubiquitous part of our daily lives.

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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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Indonesia has emerged as a significant force in the global business scene in recent times, establishing itself as a prominent player not only within ASEAN but also on a broader scale, driven by a population exceeding 270 million and a rapidly expanding middle class. Supported by a government committed to fostering entrepreneurial endeavours, the region’s business environment is undergoing notable changes. Programmes like the 1000 Startup Digital Initiative and Indonesia Investment Fund demonstrate this commitment by setting ambitious goals to stimulate the establishment of new digital ventures.

Aligning with this growth trajectory witnessed by the regional tech startup landscape, Echelon X was recently held last May 15-16 at the Singapore EXPO, offering attendees access to a wide array of benefits. This includes access to valuable market insights, growth initiatives, a marketplace for digital solutions, programs facilitating market entry, enhanced brand reputation and visibility, and an opportunity for dynamic innovators from the region to come together, interact, and foster collaboration.

Also read: Uncovering the secret behind Fonos’s unprecedented growth

Joining the many up-and-coming and established companies from across the global tech ecosystem in Echelon X is Telkomsel Ventures. Most notably, Telkomsel Ventures spearheaded a roundtable discussion on “Collaborative Innovation Models: Strategies for Effective Corporate-Startup Partnerships” which was attended by over 100 companies and organisations including WeWork, Invest Hong Kong, Vinova, TAPPI Global, and ArmourZero, among many others. Additionally, Mia Melinda, Telkomsel Ventures’ CEO, delivered a talk entitled, “Driving Impact: Corporate Venture Capital and the Future of Tech Innovation in Indonesia,” during a fireside chat moderated by Devina Mardiputri of e27.

Being the corporate venture arm of Telkomsel, Telkomsel Ventures invests in promising startups, helping them grow by leveraging Telkomsel’s extensive ecosystem, resources, and expertise. Complimenting their forecast on future trends, Telkomsel Ventures relies on visionary founders to reveal what lies ahead. Through the productive discussions, Telkomsel shared key insights regarding the important emerging trends in the region.

Indonesia’s burgeoning venture capital landscape

The financing landscape in Indonesia is diverse, mirroring the country’s rich diversity. Venture capital plays a prominent role, offering not just financial support but also strategic guidance and access to valuable networks essential for business expansion.

Both global giants like Sequoia Capital and local players such as East Ventures have made significant investments in promising Indonesian startups, covering a wide range of sectors from fintech to eCommerce.

Despite facing recent challenges following a boom in global venture capital funding in 2021 – 2022, Indonesia remains a beacon of hope in the regional venture capital scene. Favourable market conditions helped sustain VC deal values in Indonesia in 2022, holding steady compared to global markets which experienced declines of 20% to 40%. Moreover, there was a notable increase in deal volumes, particularly in early-stage opportunities, indicating growing investor interest. Another positive aspect is the diverse mix of international and local investors participating in the Indonesian VC market, with locally focused investors gaining a stronger foothold in recent years.

Exciting innovations in and out of Indonesia that venture builders are looking to support

Venture builders, also known as venture studios, company builders, or startup studios, are specialised entities that transform disruptive ideas into groundbreaking startups with commercial potential. While the concept of a venture builder is relatively novel, the idea of corporate spin-offs and the commercialisation of industry intellectual properties has been practised for a long time. For young start-ups, venture builders are seen as having lower risk and requiring less commitment. They are more adaptable and willing to pivot and reallocate resources among various projects, attracting entrepreneurs who wish to gain broader exposure to entrepreneurship rather than dedicating themselves to a single venture.

Also read: Leveraging technology to create uniquely human experiences

Within Indonesia and the neighbouring regions, exciting opportunities have arisen from budding new ventures born out of new innovations. Southeast Asia’s technology startups are projected to achieve an impressive valuation of $1 trillion by 2025, a significant increase from $340 billion in 2020. Indonesia, the region’s largest e-commerce market, holds nearly half of the market share. 

Sharing about the hottest industry trends and development initiatives within Indonesia supported by Telkomsel Ventures, Mia Melinda emphasised, “For Telkomsel Ventures, we focus on aligning with our corporate needs through three pillars: digital lifestyles, digital enablement, and emerging technology. Although Telkomsel is a telecommunications company, we aim to provide more than just connectivity by offering additional value to our customers.”

Melinda added, “According to a global consultant’s recent survey, post-COVID, executives now prioritise building new businesses, with artificial intelligence being the top focus, followed by sustainability, and direct-to-consumer (D2C) strategies. While D2C saw a peak during the pandemic due to the need to maintain customer connections, it now ranks third in priority after AI and sustainability.”

Upcoming opportunities and challenges for Indonesia’s tech ecosystem

Foreseeing a captivating outlook for the region and Indonesia’s tech ecosystem, global tech giants have flocked to the region in search of new business opportunities. For instance, Microsoft has recently unveiled plans to invest US$1.7 billion over the next four years to enhance cloud and AI infrastructure in Indonesia. This investment will also include AI training opportunities for 840,000 individuals and support for the expanding developer community in the country. Nevertheless, there are also challenges that should be considered further to develop the technology-driven industries and venture capital community.

Sharing her thoughts on these topics, Mia Melinda expressed, “In terms of challenges, investing in innovations comes with a high degree of uncertainty, requiring thorough risk assessments and mitigations. Traditional methods, which rely on predicting the probability of risks in various criteria, often fall short when dealing with the unpredictable nature of new ventures. We need to embrace plural scenarios and conditional situations, acknowledging our limited knowledge and the inherent uncertainty in investment decisions.

Also read: Fostering inclusion: AI’s role in SEA’s education sector

Furthermore, the governance process in corporate venture capital can be lengthy and complex. However, founders who seek strategic synergy with corporations are often willing to navigate this process, understanding the long-term benefits of having robust governance in place as their businesses grow and scale.  To help bolster our impacts in the tech landscape in the country, we also aim to foster better cultural integration between corporations and startups, promoting collaboration and positive cultural assimilation within the company.”

To learn more about Telkomsel Ventures and its projects, please visit its website: www.telkomsel.vc

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This article is produced by the e27 team, sponsored by Telkomsel Ventures

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

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Direct market access (DMA) is a highly effective tool for institutional investors because it removes areas of friction caused by using needless middlemen and brokers. Instead, embracing DMA means exchanges can be directly accessed and orders placed in a fraction of the time. 

The beauty of DMA is that the approach can facilitate trading for any stock exchange or security that’s tradeable on exchanges. This means that institutions can find efficiency across a number of equities, fixed-income securities, derivatives, or just about any other financial asset. 

Time is of the essence when it comes to frictionless trading, and it’s only through DMA that institutions can execute the right trades at the right time to capture opportunities ahead of their rivals.

So, how can institutional investors create an efficient and sustainable DMA strategy? Let’s take a deeper look at five essential steps to take in order to achieve direct market access success:

Uniting DMA with algorithmic trading

Because direct market access excels in removing the barriers to trading for institutional investors, it offers the best level of efficiency when coupled with high-quality, fast-paced algorithmic trading tools. 

This means that ambitious institutions should seek out a functional DMA portal provider that offers quick instrument requests, corporate action management, and downloadable configuration files to help optimise efficiency throughout trading strategies. 

In choosing prime services that feature globally positioned trading servers and locally connected pricing structures with data vendors for real-time quotes, it’s possible for institutions to unite their DMA with high-frequency trading (HFT) and functional algorithmic trading platforms to capitalise on opportunities faster without the threat of losing valuable time against competitors. 

Also Read: Southeast Asia’s marketing renaissance: How up-and-coming marketers are leading the charge

Lower latency pricing can be a great asset when connecting DMA and Expert Advisors (EA) without having to worry about slippage or other factors that could hinder the effectiveness of results.

Utilise the transparency of order books to shape decisions

Order books are invaluable tools when it comes to gaining insights into market dynamics. However, the analysis of data can often make it difficult for institutional investors to extract clear insights in a landscape where time is literally money. 

When using order books, institutional investors can learn an asset’s liquidity by exploring its bid-ask spread. It’s also possible to explore the depth of the order book to understand the level of buying and selling interest regarding a specific asset. 

Traders are capable of using the data within order books to identify trends and explore possible trading signals. For instance, if an asset is receiving a higher volume of bids at a specific price level, it’s reasonable to expect it to climb higher. Likewise, if the ask side is heavily populated at a price level, investors can interpret it as a sell signal. 

Order books are becoming more accessible through integrated trading platforms and even smartphone apps today, making it easier than ever for institutions to access essential market insights. 

Conforming to compliance

Direct market access poses its own set of compliance requirements for institutional investors, and their adherence will be essential in building a functional and efficient trading strategy. 

When using DMA, it’s important that supervisory controls and procedures are continually tested in order to obtain the necessary CEO certification from FINRA. This certification is audited annually and pertains directly to risk management and compliance with the safety of the markets. 

It’s the responsibility of broker-dealers to ensure that their DMA services are well-tested and possess the required certification. 

With this in mind, it’s essential that any DMA used is fully compliant at all times to keep on top of regulatory scrutiny from the likes of FINRA and the Securities and Exchange Commission (SEC). It’s with this in mind that choosing the right DMA requires necessary due diligence, and low-cost options can come with both regulatory risks and possible security threats.

Following the direct market access rule

Any institutions engaging in DMA should also be aware of the direct market access rule set out by the SEC. This rule requires broker-dealers to implement the necessary risk controls for market access. 

The Direct Market Access rule means that any broker or dealer that has market access or any entity that offers a customer or other party access to an exchange through the use of its MPID is required to comply with the rule. 

This rule applies to trading in all securities, exchanges, or ATS, including equities, options, exchange-traded funds (ETFs), debt securities, and security-based swaps. 

While much of the rule focuses on provisions made by broker-dealers to offer compliant market access, it also makes stipulations that can be vital for institutional investors and securing efficient market practices. 

For instance, the rule states that it’s entirely possible to incorporate risk management tools or technology provided by a third party that’s independent of the customer, provided that it has direct and exclusive control over those tools or technology and is fully compliant. 

Also Read: Unlocking email marketing success: 5 foolproof tips every startup must embrace

This means that it’s entirely possible for DMAs to vary from different broker-dealers, and their proposition can have different ramifications for efficiency and compliance. With this in mind, it’s worth researching the available DMA options to see whether one tool offers a greater range of compliant integrations to improve access and latency.

Learn the intricacies of DMA and OTC trades

No, direct market access isn’t like over-the-counter (OTC) trading. The intricacies of the two approaches are important for institutional investors to take on board. 

Crucially, DMA places trades directly on an exchange, while OTC trading occurs outside of exchanges and directly between the appropriate parties. 

Because it focuses on trading via exchanges, DMA offers considerably more transparency, liquidity, compliance, and more competitive pricing than OTC trading, but it’s worth taking the time to research the relevant perks of each approach. 

For instance, some institutions prefer OTC trades because commission is instantly factored in and it can be easier to track profit and loss due to operating through a single party. 

However, a major issue with OTC trading stems from counterparty risk and reliance on chosen parties to fulfil their commitments when trades are placed. 

Building a sustainable DMA strategy

As institutional trading becomes ever-competitive, more traders are looking to DMA as an option to secure frictionless market access in a low-latency environment that’s fully compliant with necessary regulatory requirements to leverage a sustainable strategy. 

With the technology entering the industry becoming increasingly effective, incorporating these innovations into DMA strategies without slowing execution times down will be essential. 

As the market continues to grow, the range of powerful options at the disposal of institutions will only grow, so it’s worth conducting the appropriate research and utilising prime services that can offer meaningful direct market access that meets the ambitions of the institutions looking to achieve their potential.

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Malaysia’s economy has witnessed steady growth in recent years, yet the challenge of stagnant unemployment rates persists, posing a critical concern for policymakers and businesses alike. As the country strives for economic prosperity and workforce stability, Malaysian companies play a pivotal role in addressing this issue.

Despite Malaysia’s unemployment rate remaining at 3.3 per cent, Malaysian companies and the government have taken the first steps to reduce the number of unemployed by introducing initiatives in the business and gig economy. Initiatives such as JaminKerja, are created to increase job opportunities for the unemployed, targeted towards local workers.

The gig economy has emerged as a prominent force and solution, offering both opportunities and challenges for companies and workers alike. Based on a study by the Employees Provident Fund (EPF), it is estimated that gig workers will account for 40 per cent of employed workers in Malaysia within five years, twice the global average.

Additionally, the widespread use of smartphones and the availability of high-speed internet has made it easier for individuals to access gig platforms leading to a boom in the gig economy, with the local gig economy being valued at RM1.33 billion (approximately US$281.54 million).

The gig economy also offers flexibility during work, not normalising the usual business hours but providing workers with the ability to choose when, where, and how much they work, allowing them to balance work with personal commitments or to pursue multiple gigs simultaneously.

Also Read: Malaysian golf course booking platform Deemples nets US$2M from V Ventures

Despite the gig economy thriving, there are still several challenges that the gig economy poses that need to be addressed. In this article, we will delve into the current limitations of the gig economy and how Malaysian companies aim to solve these challenges.

The downsides of working in the gig economy

There are around 2.2 million documented migrant workers in Malaysia, with the majority of them being in the gig economy as it is difficult for unskilled workers of foreign nationality to obtain a full-time working job. Most migrant workers are satisfied with the minimum working conditions in Malaysia. In contrast to their country of origin, Malaysia is considered to be hospitable with a decent standard of living. 

Malaysia also relies heavily on foreign workers, with the labour industry having the highest demand for them. The reliance on foreign workers causes a lack of job opportunities for Malaysian workers as foreign workers are viewed as a cheaper option compared to their domestic counterparts. Therefore, companies in Malaysia prioritise hiring foreign workers for gig economy work.

The gig economy also has its limitations, affecting both foreign and domestic workers which include:

Lack of job security

Gig workers often face uncertainty and instability in terms of job security. They may experience periods of inconsistent income, limited access to benefits such as health insurance and retirement plans, and vulnerability to changes in demand or market conditions.

Gig workers are vulnerable to market changes, shifts in demand and economic downturns. Changes in consumer behaviour, technological advancements, or industry disruptions can directly impact gig workers’ ability to secure work opportunities and maintain a steady income.

Limited access to benefits

Gig workers often do not have access to the same benefits as traditional employees, such as health insurance, paid leave, retirement plans, and worker’s compensation. This lack of benefits can significantly impact gig workers’ financial security, well-being, and quality of life.

The absence of benefits and protections can contribute to income instability for gig workers. Without benefits such as unemployment insurance or worker’s compensation, gig workers may face financial challenges during periods of unemployment, injury, or unforeseen circumstances.

Skill underutilisation

Gig workers may not always have the opportunity to fully utilise their skills and expertise in gig assignments. They may be assigned to repetitive or low-skilled tasks, limiting their potential for career advancement and skill development.

Furthermore, the lack of proper certification for gig jobs in the plantation sector prevents workers from earning a higher pay rate. Without recognised certifications, gig workers in plantations struggle to demonstrate their skills and value, leading to lower compensation and fewer opportunities for professional growth.

Local workers who work in the gig economy will then miss out on the opportunity to learn the necessary skills to adapt to other gigs that may require different skills, limiting the workers to only work in gigs that require common skills.

The future of the gig economy leverages employment opportunities 

A crucial aspect of the gig economy’s growth is the correlation of supply and demand dynamics, streamlined by the advent of online platforms and digital recruitment agencies. These platforms diminish the barriers typically encountered in traditional job markets, facilitating efficient connections between gig workers and employers. 

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

The gig economy is reshaping the traditional business hiring model. Employers are increasingly drawn to gig workers for their ability to offer specialised skills not readily available in-house. In a job market increasingly shaped by technological advancements and global connectivity, soft skills have emerged as a critical differentiator for both job seekers and employers. The emphasis on soft skills has never been greater as it is an essential skill that sets candidates apart and contributes significantly to workplace goals. 

The Malaysian government themselves are also taking a proactive approach to nurturing the gig economy, exemplified through various initiatives, ranging from building digital skills and improving the regulatory framework to expanding social protection. For example, Malaysia Digital Economy Corporation’s (MDEC) Global Online Workforce is to equip Malaysians with the necessary skills to excel in the digital freelance marketplace.

The gig economy can prove to be the solution to reduce the stagnant unemployment rate that the country has been plagued by. Through various channels such as job portals, digital recruitment agencies, and government initiatives, it is imperative that candidates are provided with upskilling aid by corporate bodies to boost the development of the country’s employment sector.

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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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The dating app industry, despite criticism from psychologists, generates billions of US dollars a year. This ‘love economy’ has changed our lives beyond recognition.

However, almost half of consumers say they feel frustrated when using such apps, and members of the so-called ‘Generation Z’ are increasingly turning to live communication in search of their other half.

What does the future hold for the dating app industry?

The internet has changed the way we date, and psychologists believe it is not for the better. The abundance of choice in terms of partners and spending time corresponding with people without any idea of who they really pose mental health risks. The ease of choice, or the illusion of choice offered by dating apps, reduces the chances of meeting someone who you really click with in real life.

This is confirmed by a Pew Research Center study in 2020, which found that 45 per cent of people were disappointed when using apps, and 60 per cent of young girls and women said they had received intrusive messages even after expressing disinterest in a candidate. In addition, more than half of people received unwanted photos of a sexual nature, and the same proportion said they thought apps were an unsafe way to meet.

While the use of apps was not declining before COVID-19, recent studies show that interest is waning. So-called millennials, those born between 1996 and 1981, have grown extremely tired of online dating, even though for this generation finding a mate used to be a natural process.

Younger Generation Z (27 years and younger) are even less likely to use Tinder, Hinge, Bumble, and other apps, preferring to meet their other half through mutual acquaintances.

Surprisingly, it is this generation of young people, who spend over 8 hours in front of their phone screens, that miss live interaction the most. We might consider that the younger generation is more aware, having matured in a time of climate activists and quarantines that have forced them to turn inwards, but they are not the only ones who are choosing alternatives.

Also Read: To bumble or not to bumble: Does Asia need its own dating apps?

The 2024 D.A.T.E. (Data, Advice, Trends, and Expertise) report shows that many members of Generation Z rank fear of rejection and feeling uncomfortable among their top concerns when using instant dating apps. Millennial daters may have more experience of rejection, but this does not mean that they are comfortable with this scenario.

In search of a genuine connection

Dating apps are losing their appeal among all age groups. The majority of users of the recently launched Joiner App, a matchmaking and leisure app, are millennials, three-quarters of them women aged 25-40. They are happy to stop feeling the tension of a targeted search for a mate and rather find their circle of people based on their interests.

Millennial women don’t have the time to waste corresponding with 30 different people and then being disappointed every time they meet in person. The sociability, the ability to share positive emotions with people with whom you have a lot in common, is something else.

When we talk to the Joiner App community, we hear although people are often looking for their other half, they prefer to be friends first. They are fed up with the brutal push by apps to build a relationship faster without a foundation because it’s just not real.

Every relationship psychologist will agree that to have a successful commitment, one needs to go out there, not spend time on apps, create a false image of oneself, and also see potential partners.

According to statistics, the majority of ‘Generation Z’ women delete dating apps within the first month of use. Old-fashioned? I don’t think so.

I believe that our future will be different because people’s minds are changing. We are finally recognising that each of us wants the natural, real connection that many of us have lost. The millennial generation has had enough of virtual communication and is seeing the consequences.

The market is changing, their desire to communicate in person is replacing virtual illusions. This is why the world is witnessing a boom in socialisation projects and community building. It is impossible to ignore these trends because people’s needs are very clear. What is old-fashioned to whom today? The answer is obvious.

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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.

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Vietnam boasts a vibrant startup ecosystem and is among the top 3 most attractive investment destinations in Southeast Asia. Fonos, a Vietnamese audio content startup, is one of the prominent players in this exciting landscape, enjoying an accelerated growth momentum since 2020. With subscription services covering 1500 pieces of original content, 200+ podcast channels, and 1200+ copyrighted audiobooks, it is the number one audiobook app on both Apple AppStore and Google Play Store in Vietnam.

The challenge of streamlined marketing and ongoing personalisation to engage busy users

Vietnamese users have high expectations from their audio apps — from supporting their upskilling, personal and spiritual growth, and to catching up on the news in various spheres and reading to their children.

Fonos offers all of this but found that more than two-thirds of its users are busy people. While the users come on to the app because they recognise it can meet their needs, Nguyen Hong Nhung, Head of Growth Marketing at Fonos and her team, saw that the users could stay longer and return more often. Fonos had the potential to become the go-to learning and content companion for customers round the clock. To achieve this, the Fonos team decided to use a powerful all-in-one solution that would help tailor personalised retention strategies and create new user behaviours.

Also read: Leveraging technology to create uniquely human experiences

Because of its real-time Recency, Frequency, and Monetary segmentation features that underpin omnichannel, lifecycle marketing, and automated and personalised communication, Fonos sought CleverTap’s services.

“Fonos, right from its early days, understood the importance of focussing on user lifetime value as a way to achieve its goal of being a ‘daily companion’ to its users. CleverTap serves as a robust, unified engagement platform, empowering us to engage users contextually in real time and use automation for enhanced efficiency,” shared Nhung.

A foundation for tailored, end-to-end lifecycle engagement

With CleverTap as the cornerstone, Nhung and her team set out to build a data-driven strategy to maximise customer lifetime value (CLTV). This would be done in two ways: Driving subscription sales throughout the customer lifecycle (install, trial, renewal), while simultaneously boosting customer retention.

Nhung’s team kicked things off by segmenting their user base. They used CleverTap’s live unified customer views updated with real-time user interaction data, as the ideal starting point to segment users based on user type (Free/Subscription/Churn) and the category of the product (Audiobook/Ebook/Podcast). For enabling lifecycle-based engagement, CleverTap’s sophisticated Recency, Frequency, and Monetary (RFM) behavioural segmentation algorithm was applied. This creates segments of users based on how recently and how often they were active, as well as the value of their transactions.

Also read: Fostering inclusion: AI’s role in SEA’s education sector

RFM segmentation offers multiple advantages. RFM takes the entire audience and maps them onto a recency and frequency grid, breaking them down into 10 distinct groups. It is fully automated and takes care of complex mathematical modelling with complete accuracy. Thus, the Fonos team saves hours of effort which would be spent on computing which users belong where. They also have access to the probability of a user transitioning from one segment to another, which can happen at any time during the lifecycle.

Equipped with this new, multidimensional, real-time overview of their users’ lifecycle stages, the Fonos team leveraged more of CleverTap to create laser-focused engagement.

Leveraging RFM-backed journeys and insights to personalise user experiences and maximise CLTV

From the moment the customers find and download the Fonos app, they engage with it in varied ways. Against this backdrop, Fonos’ main goal is to make personalised content suggestions in real-time, so customers can quickly discover what they need and maximise their usage of the app’s large library. Let us look at how the team used CleverTap to achieve this.

In the case of users who download the app and sign up, conversion-focused journeys auto-trigger campaigns to engage those who remain inactive post-sign-up with welcome onboarding emails. Similarly, tailored journeys win back users about to cancel their subscriptions by reminding them how much they will miss their most-used features. Users who forget or overlook spending their abundant credits are alerted with personalised messages on their preferred channels before the credits expire.

In this way, RFM segmentation ensures that along any tailored journey, the offers, and customised messaging reach the right user on the right channel, consistently improving the experience. CleverTap also enables the team to identify the ‘golden time’ of the day to engage users, further boosting effectiveness. The Fonos team is also able to streamline their efforts by tapping into deeper insights mined by CleverTap, such as by not focusing on users who use the app for less than 10 minutes a day in the first week as they are unlikely to turn into loyal customers.

With this integrated execution of tailored journeys and lifecycle messaging right from the onboarding stage to provide seamless personalisation, Fonos is seeing concrete gains. There is a significant conversion uplift between 5%-10% and an appreciable revenue boost of 10% for user groups where CleverTap segmentation and tools were applied.

“RFM segmentation has helped shape a far more effective strategy, supercharging our return on investment by boosting retention rates and maximising user lifetime value,” explained Nhung.

Nurturing customer loyalty through RFM-powered personalisation

The Fonos team also leverages RFM segmentation and valuable insights from CleverTap to engage loyal customers and persuade them to make referrals. Loyal users, for instance, are offered personalised content so they feel valued. Another approach that is currently working well is two-way conversations. Customers in the more loyal segments are asked for feedback, assured it will be implemented, and then engaged again to see if they are satisfied. High-value, at-risk customers are convinced to stay by offering them gainful, customised loyalty programs, while loyal customers are incentivised to provide referrals.

Also read: OceanBase INFINITY 2024: Pioneering Indonesia’s digital economy

“By leveraging RFM segmentation and stellar user database management, Fonos has transformed user engagement, increasing both app usage time and monthly active users. In today’s distracting digital landscape, user loyalty is the heartbeat of a thriving subscription business, fueling continuous growth and unwavering engagement,” added Nhung.

A data-driven success story

There is clear evidence that everything Fonos has done so far to increase user engagement is working. The email open rate of 20% is significantly higher than the industry benchmark. At 10%, the In-app message open rate is also at a great level. Crucially, since CleverTap, monthly active users month-on-month growth has seen a 25% jump with the absolute number increasing 6-fold over six months. Fonos accomplished this by intelligently harnessing data to engage the busy user in the right way at the right time.

“CleverTap’s CRM system, by providing personalised customer experiences, marketing performance optimisation, and measurable metrics to gauge the success of our efforts in real-time, has greatly aided our growth,” Nhung shared.

To learn more about how CleverTap can help your business create a tailored strategy for engaging users, visit them at https://clevertap.com/live-product-demo/.

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Photo by Christina Morillo via Pexels

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This article is produced by the e27 team, sponsored by CleverTap

We can share your story at e27, too. Engage the Southeast Asian tech ecosystem by bringing your story to the world. Visit us at e27.co/advertise to get started.

The post Uncovering the secret behind Fonos’s unprecedented growth appeared first on e27.

When asked about the top cybersecurity concern that companies of all sizes and sectors face today, Zscaler Chief Security Officer Deepen Desai named phishing as one of them. We can even expect the number and level of threat to escalate as cybercriminals use Artificial Intelligence (AI) in their attacks, starting from the use of deep fakes to the use of “cleverly crafted” phishing kits that can evade multi-factor authentication (MFA) steps.

Speaking to e27 at the sidelines of Zenith Live 2024 on June 13 in Las Vegas, he also warned against using phishing-as-a-service frameworks that make crimes easier.

“Two notable ones have been mentioned in the last few years. The first one was the Scattered Spider group … they make phone calls to your IT helpdesk, pretending to be the employee and convincing the IT helpdesk to reset the password, reset MFA, and get inside the environment,” he explained.

“The other variation that we have seen in the last six months is … they pretend to be the security team of that same company, telling the IT helpdesk that we have found some security issue with your computer, and we are calling to help fix it.”

To deal with this issue, as a principle, Desai recommended companies focus on two things: Training employees and performing inline TLS inspection.

“In the case of Scattered Spider, as soon as we started seeing that happening mid to late last year, we sent out an advisory to all our customers to follow this process in order to safeguard against these types of TTP. So, the basic process changes. If some employee called your IT helpdesk to reset MFA or credentials because they lost their phone, contact their manager and get approval from them … With the basic process changing, training the employees become very, very important,” he said.

Also Read: The ever-present threat: Why businesses need robust cybersecurity

“The technology piece is where you need to do inline TLS inspection. Because a lot of these phishing pages are hosted on Azure or AWS GCP. They are using these cloud storage service providers’ wildcard certificates.”

Focusing more on how AI is taking cyber attacks to the next level, Desai highlighted that cybercriminals today aim at a company’s enterprise AI application.

“Every organisation is adopting generative AI LLM; they are all trying to take advantage of the efficiency, the efficacy gains that the LLM is providing. But this [enterprise AI is now] a crown jewel for your organisation. Because you have all your data there that you are using to train these algorithms, you can now poison the application, steal the data, and do lots of different attacks against that LLM infrastructure.”

So, how can companies use AI to fight against AI? Desai first highlighted that AI will not work as a panacea; users have to “tactically” integrate the technology in places where it will excel.

“What we have done is that we implement AI-powered segmentation, where we are using these AI modules to look at your last three months of data. Then, it is able to tell you that ‘This group of users are accessing this group of applications; you should apply this segmentation policy’,” he began.

Another example is the use of AI co-pilots. “How can you make it easier for a relatively new guy on the customer side, who may not be very familiar with your platform, to use it to defend against attacks? So, again, AI is being used across different layers in the product to fight attacks that will be more sophisticated, automated, and dynamic in nature.”

Also Read: Demystify cybersecurity: EPP vs EDR vs MDR vs XDR

As a cybersecurity firm, Zscaler provides businesses with an in-line cloud security platform. Its Zscaler Zero Trust Exchange platform protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications anywhere.

At the same event, e27 spoke to Kavitha Mariappan, EVP of Customer Experience & Transformation, on how the company works with businesses to help them grow, especially in their cybersecurity aspect.

“We help customers grow is by reducing IT and security overhead,” she said.

When asked about recent changes in the global market, Mariappan said that COVID-19 was an inflexion point for businesses as it created a new kind of workforce—one that had never been in a physical office before.

“I was with a customer yesterday who said, ‘I have 300,000 offices. Why? Because I have 300,000 employees, many of whom work from home for a percentage of the week.’ So, how do I build a workforce? How do I ensure the crown jewels of the organisation are protected?”

“The other thing that has happened is how AI has taken off … We are seeing the bad actors use AI to do very sophisticated nefarious acts. So, I think we have seen many things shift since the pandemic.”

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Image Credit: Zscaler

The post Phishing remains top cybersecurity concern, but AI will drive it to next level: Zscaler CSO Deepen Desai appeared first on e27.

Dear reader,

We saw a great variety of news happening this week.

From the funding side, we had companies such as Amartha announcing a US$17.5 million funding round, Buyandship securing US$16 million, and Homa2u getting US$1.5 million. These companies work in various verticals, from fintech to logistics to interior design. Even major names such as Carro secured a US$55 million loan from HSBC to support its fintech arm.

We also witnessed movements in human resources. Philippe Auberger, a former Lazada Logistics Indonesia CEO, joins SiCepat, while SoftBank’s Masayoshi Son is setting up his “next big move.”

For features, we published a special interview with Zscaler from our recent participation at Zenith Live 2024 and a profile of BuyMed and Transcelestial.

Anisa,
Editor.

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NEWS

MSD launches IDEA Studios to fund healthcare innovation in Asia, Europe
MSD, through its Global Health Innovation Fund, plans to invest US$38 million across both regions over the next three years

Amartha secures US$17.5M from Accion to empower women-led MSMEs
Amartha uses tech and partnerships to support women-led micro and SMEs, merchants, institutional banking, retail investors, and startups in the grassroots economy

Hong Kong based Buyandship secures US$16M funding led by Altara Ventures
Buyandship plans to enhance the user journey, expand into Southeast Asian markets, and further automate operations

SEA’s tech M&A boom cools off, more corrections on the horizon
According to DealStreetAsia, following peak activity in 2022, SEA witnessed a notable decline in M&As of tech companies in 2023

Malaysian interior design marketplace builds Pre-Series A round up to US$1.5M
Homa2u has repurposed US$4.2 million worth of excess inventories in over 8,000 homes, Tech In Asia writes

Vietnamese unicorn VNG eyes listing on local exchange HoSE
This information was secured by DealStreetAsia from the company’s annual shareholders on Friday

US VC General Catalyst acquires Indian peer Venture Highway
This acquisition confirms a report that DealStreetAsia made in January

Former Lazada Logistics Indonesia CEO joins SiCepat
Philippe Auberger joins the Indonesian logistics firm as its COO, according to Tech In Asia.

Carro secures US$55M loan from HSBC to fund fintech arm
The loan was meant to support the company’s fintech arm Genie Financial Services, DealStreetAsia writes

SoftBank’s Masayoshi Son set for ‘next big move’: report
Amid a deeper focus on AI, SoftBank is aiming to boost its renewable energy ventures to power its AI initiatives, especially in the US, Son said.

Lightspeed leads US$10M round in South Korean fintech startup Travel Wallet
Travel Wallet’s flagship product is Travel Pay, a prepaid card that lets users exchange funds and make payments in 46 different currencies.

Lazada squashes rumors of Thailand exit
The comments come following a Bangkok Post report on Alibaba’s alleged talks with Charoen Pokphand and Central Group.

FEATURES & INTERVIEWS

Phishing remains top cybersecurity concern, but AI will drive it to next level: Zscaler CSO Deepen Desai
To tackle this problem, Zscaler CSO Deepen Desai spoke about how to use AI to fight against AI

How these trio grew BuyMed into a B2B healthtech brand with a reach in 12K+ townships in Vietnam
BuyMed, which recently raised US$51.5M in Series B funding, says it processes over 5K orders daily and reaches 12K+ townships across Vietnam

Amidst funding slowdown, these 5 Vietnamese tech startups inspire hope for the rest of the year
Categories such as e-commerce, fintech, and related services remain the most popular verticals for investors in Vietnam

‘To beam high-speed internet from Space’: Transcelestial CEO on Axiom Space collaboration
Transcelestial and Axiom Space team up to use lasers to beam high-speed internet from space, creating orbiting data centers

FROM THE CONTRIBUTORS

The economy of love: Are dating apps doomed?
The ease of choice offered by dating apps, reduces the chances of meeting someone who you really click with in real life

Navigating the climate tech landscape in Germany: Opportunities and pathways
Germany’s climate tech landscape offers opportunities for innovation and growth, backed by strong government support and a thriving ecosystem

Skills for the gig age: Empowering workers in Malaysia for the future of work
The gig economy can prove to be the solution to reduce the stagnant unemployment rate that Malaysia has been plagued by

The unsung hero: Why every CEO needs a strong second-in-command
The second-in-command role is a strategic imperative for modern organisations in a complex, competitive business environment

Leveraging technology to create uniquely human experiences
Communication and marketing in the age of automation: Strategies for a seamless people-machine partnership

Can Singapore unlock Gen Z’s spending power with unified commerce?
Singapore’s retail sector can revitalise by adopting unified commerce, capitalising on Gen Z’s significant global spending power

AI, personalisation, and 5 marketing activities you should be doing
Here are five key marketing activities that businesses should be doing and the AI tools to get the most mileage

The metaverse in Asia: Opportunities for new entrepreneurs
The metaverse is set to redefine how we interact, work, and engage with digital content, and Asia is poised to lead this transformation

PR 101 for tech startups: Tips for guaranteed media coverage
Struggling to get the word out about your tech startup? Learn how to do your own PR and create buzz for your business on a budget

FROM THE ARCHIVES

‘Young, tech-savvy population contributes to cryptocurrency growth in Vietnam’
Cryptocurrencies have found more takers in Vietnam because nearly 70% of adults lack access to formal financial services, says Nicegram CPO

All hands on deck: How Iron Sail strengthens blockchain gaming ecosystem through collaboration
Launched in October 2021, Iron Sail results from a partnership between blockchain-based game hub Whydah and seven local gaming studios

Why is The Parentinc aggressively venturing into offline spaces?
The Parentinc doesn’t rule out an IPO within the next three years, but at this point, it brings the retail tech footprint into other markets in SEA

The journey of Alternō: A tale of innovation, sustainability, and friendship
Alternō envisions a world where sustainable energy is accessible and affordable for all, heralding a new era of eco-conscious living

How Vietnam’s e-commerce firm Tiki manages to keep employee churn rate healthy
Chief People Officer Sakshi Jawa discusses the various HR challenges faced by Tiki, which employs nearly 3,000 people across Vietnam

From Amazon to AI: How GenAI Fund fuels innovation in SEA through a unique model
GenAI Fund is a US$10M AI-focused fund based in Vietnam that aims to invest between US$50,000 and US$1M per startup

‘We want to treat our customers like educated LPs of a fund’: Michael Do of wealthtech startup 1Long
‘We frequently update their portfolio holdings and our investment decisions while sharing resources that an investor relations department typically offers’, says 1Long CEO

Starting with a clear culture in mind is vital for companies: Huy Nghiem of Finhay
‘Short-term financial stability is as important as long-term goals; If we cannot meet the former, we can’t meet the long-term goal either’, says the Finhay CEO

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Image Credit: © rawpixel, 123RF Free Images

The post Ecosystem Roundup: MSD launches IDEA Studios | Amartha nabs US$17.5M | SEA’s tech M&A boom cools off appeared first on e27.

HOMA2u, a Malaysian startup specialising in renovation and interior design materials, has secured an additional US$625,000 in its pre-series A funding round from Asia Fund X, backed by MSW Ventures and Pavilion Capital.

The company plans to use the funds to support its carbon reduction tracking initiatives and expand beyond Malaysia and Singapore into high-growth regions such as Taiwan and Japan.

Founded in 2017, HOMA is a retail platform leading the initiative to reduce, reuse, and repurpose for home improvement. It offers building materials and home finishing products at bargain prices, focusing on sustainability.

HOMA2u collaborates with environmental consultants to measure the carbon footprint of repurposing overstock materials. Each sale of overstock tiles saves about 16.42 kg of CO2 per m², reducing waste and the need for new production. Using industry standards, HOMA2u ensures transparent carbon accounting, sets new benchmarks, and issues green certificates to partners.

Also Read: MSD launches IDEA Studios to fund healthcare innovation in Asia, Europe

The company has developed the Pro+ ecosystem, which includes over 1,000 industry stakeholders such as interior designers, architects, suppliers, and contractors. Pro+ provides a platform for the community to access curated perks and value-added services, enhancing the overall marketplace experience.

At the start of 2024, HOMA set a target to save 7.5 million kg of carbon by the end of the year. To date, HOMA2u claims to have repurposed over RM20 million (US$4.76 million) worth of overstock inventories for more than 8,000 homes.

Pennie Lim, Co-Founder and CEO of HOMA2u stated, “Our vision remains to redefine the business landscape for the built environment, but we are also cognizant of the sustainable impact we bring to the table. We are committed to expanding HOMA2u’s offerings outside of Malaysia and Singapore, specifically into high-growth regions such as Taiwan and Japan where attitudes towards ESG construction move in strikingly similar ways.”

This latest investment brings HOMA2u’s total pre-Series A funding to US$1.5 million. Existing investors include Quest Ventures Asia Fund II, Worldwide Management Solutions, and Qhazanah Sabah Berhad, the investment arm of the Sabah state government.

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Image credit: HOMA2u

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