The GrowHub, a Web3-enabled plug-and-play ecosystem builder focusing on food traceability and carbon credits, has closed a US$3 million pre-Series B investment round.

The investors include strategic individuals, including the company’s CEO and founder Lester Chan.

The GrowHub will use the funds to continue building technology offerings and strengthen its technology capabilities as it expands across the Asia Pacific region.

The agritech startup has also appointed Chai Chun Kiat as CTO, Aaron Loo Jian Lin as Chief Innovation Officer, and Sam Yen Rong Jiun to the advisory board.

Kiat was previously a CTO at Gorila Mobile and Technology Lead at AL2, while Loo was COO at Gorilla Networks. Yen was previously a Vice President at the Bank of America.

Also Read: Malaysian startups, MNCs have started recognising the importance of Web3: Jasmine Ng

The GrowHub began as a farm-to-table solutions provider and a strategic export partner of premium goods from producers looking to reach new audiences in Southeast Asia and beyond. Over the years, it has shifted its technology focus to enable producers and consumers to track, market and understand consumer behaviour and patterns using its Web3, NFC and QR code solutions.

Consumers across the Asia Pacific can interact with these products in their native language, understand products more intimately, and engage with relevant advertisements.

Its clients include businesses and shoppers in Singapore, Australia, Japan, Indonesia, and Malaysia.

In addition to tracking the footprint of food from producer to consumer, The GrowHub also facilitates transparency and reliability in tracing carbon credits with its SaaS platform. The company allows producers, funders and regulators to differentiate and authenticate carbon footprint at source, with initial use cases deployed around soil carbon market integrations.

The firm focuses on the flow and user experience between the network of retailers, distributors, producers, and end-consumers in a fast, secure, credible, and accessible manner.

The GrowHub claims it has reached hundreds of thousands of user interactions per month, growing at 20 per cent. The GrowHub closed 2022 with US$750000 in estimated revenue. It expects to increase this figure by 4x by the end of its fiscal year.

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

The post The GrowHub nets US$3M pre-Series B to improve food traceability, carbon credits in APAC appeared first on e27.

As we get ready to celebrate International Women’s Day, we are reminded of the importance and urgency of this year’s theme, which is #EmbraceEquity. In this article, female leaders from Foodpanda Thailand and SmartOSC share their insights and actionable advice for moving forward for change in the tech industry.

Striving ahead

Within the tech industry, Southeast Asia has been seen as a force leading the way for change by steadily narrowing the gender gap when compared to worldwide figures. A collaborative report from BCG and Singapore’s Infocomm Media Development Authority released in 2021 showed that women accounted for 32 per cent of talent in the tech sector, slightly higher compared to the 28 per cent global figure.

When we zoom in closer to different areas within the region, we can see incredible work being done to boost the foundations for women in tech as well as increase representation.

While the Philippines has remained the best-performing country in Asia in terms of gender parity according to the Global Gender Gap Report, Singapore has the highest percentage of women in the C-suite, with 14 per cent female CEOs and 26 per cent female CFOs, as well as the highest percentage of 44 per cent of women in the overall workforce.

In Malaysia, we have seen the launch of MyDigitalMaker to increase the routes to society 4.0 in a fair and accessible way. Adding to this is  Girls in Tech Vietnam, who are on a mission to eliminate the gender gap within the tech industry.

Also Read: #She27: Celebrating 27 women shaping the future of tech

Speaking about women entering the STEM industry on the latest episode of Commerce Talk with SmartOSC, Akanksha Rastogi, Head of Data and Insights at Foodpanda Thailand, said, “We’ve started to see a lot more force in terms of women starting to achieve great heights and literally proving their mettle, inspiring so many others behind them. It’s going to set off a chain reaction, a positively reinforced change, and we’ll see more and more women start to enter this industry.”

All of the strides for change have been good news stories and a step in the right direction. However, with the current market volatility, the tech industry risks losing the gains it has made, as evidenced by the disproportionate layoffs for women in tech compared to men, bringing about a rippling effect of loss on the hard-won diversity and inclusion efforts of companies across the SEA region.

Impacting future growth

In the midst of disruption,  there is a cry out for sustained action, proving even more so that achieving better representation for women in the industry is more important than ever.

As many as 80 per cent of jobs in Southeast Asia will require workers with basic digital literacy as well as applied ICT skills by the year 2030, according to a report published by Dalberg. To meet this need, the report stated the necessity of harnessing the skills, abilities, and perspectives of the full working population — not just the male half.

Adding to this argument is research conducted by McKinsey, which states that advancing women’s equality in the region could help contribute to a US$4.5 trillion increase in their collective annual GDP by 2025.

To reap these benefits, organisations need to do more to attract women to tech jobs and to retain and promote them.

Speaking about the importance of women in STEM fields, Phan Thi Hanh Le, Deputy CEO at SmartOSC, states, “As the tech industry grows and technology advances, so should our understanding of how best to incorporate women into the mix. We want to make sure that whether they are working full-time or part-time, full developers or just interested in learning more about how to code, they need to be shown that they have a place to be inspired and work towards both their professional AND personal goals.”

Adding to this, Rastogi says, “We’ve started recogniSing the unique elements that women bring to even STEM fields. There is nothing in how our brains are wired that makes us less successful. As a matter of fact, it makes us probably more so likely to succeed in these fields. And now organisations recognise that. There are programs and scholarships that are helping women break out from traditional barriers and nurturing talent, and increasingly you see this across the space.”

Recognising the problem

When we look at the possible causes for the gender disparity in Southeast Asia’s tech industry, we find ourselves facing many of the characteristics that form what is known as a wicked problem. A problem that has many interdependent factors, making it seem impossible to solve. Factors such as cultural and traditional beliefs, unconscious and conscious bias, structural and educational barriers, and organisational culture come out time and time again.

Speaking about this, Rastogi states, “I think one of the primary reasons why we see a low percentage of women in STEM fields is simply because we have an unconscious bias, even as educated folks. We sort of tend to have these biases when we are even raising our own kids. While being well-meaning, we still sort of give that impression to kids that boys are very good at science and girls are great at art. This is a message that we sort of reinforce in our homes, in social gatherings, or even at times in schools and universities.”

“I think there are stereotypes that women are not as ambitious, or they’re going to leave soon, or they’re not as capable as men in certain fields, and I think it’s really important to challenge them.”

Moving forward and enabling change

Companies must take action now and continue to create a more supportive and inclusive environment for women. In a tech survey report conducted by Ivanti, the five most important factors to attract women in tech fields to a new role were the following:

• Equal pay and benefits (63 per cent)
• Clear and well-documented career progression opportunities (52 per cent)
• Flexible working policies (51 per cent)
• An all-inclusive culture (38 per cent)
• Mentorship programmes (23.5 per cent)

Nearly 75 per cent of respondents highlighted the importance of industry collaboration and partnership with schools and universities to encourage more women to take up STEM subjects, build the next generation of women in tech, and have more women speakers represented at high-level tech events.

Speaking about what companies can do to improve, Chien Le says, “The future of the tech industry lies in innovation and technology. If there was ever a solution to this problem, it would be for corporations to create new programs that address workplace culture and diversity. These kinds of programs would provide support and resources to women throughout their careers as well as business management training.”

Also Read: Breaking barriers: My journey with Airwallex this International Women’s Day

Adding to this, Rastogi says, “I think we need to change the way we view parenthood as well.  It’s not just the mom’s job to take care of the child. It’s a shared responsibility, and we need to support that, both in terms of policy and culture. And I think, as companies, we need to be more mindful of the fact that women have different needs at different points in their lives, and we need to create an environment where they can thrive regardless of where they are in their personal lives. Because if you have a diverse and inclusive workplace, you’re going to have better ideas, better innovation, better solutions, better products, better everything.”

In Southeast Asia and around the globe, there is no doubt that we still have a long way to go regarding achieving gender equality. In order to keep moving forward, more conscious efforts need to be made to not only recruit women into the industry but also to give them the tools they need to stay.

By doing so, we can help to build a more inclusive and innovative industry for future generations and future success.

–

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Groundup.ai, a Singaporean startup helping industrial companies prevent unplanned downtime of industrial assets and improve workplace safety, has raised US$1.8 million in its seed funding round.

Wavemaker Partners led the round, with participation from SEEDS Capital and unnamed angels.

The company will use the investment to grow its in-house AI and software team and capabilities and to expand into international markets, including Qatar, Australia and Japan.

Groundup.ai was founded by Leon Lim, a serial entrepreneur with two exits, and co-founded by operations and chemical engineering veteran Alex Wong.

Also Read: How the Internet of Things is making the world a safer haven

Its core solutions lie in condition-based monitoring and predictive maintenance to help companies prevent unplanned downtime of heavy machinery. It also uses Computer Vision to improve workplace safety and save lives.

Its sound-first predictive maintenance platform is done by deploying its proprietary IoT sound sensors and GINA AI platform. GINA picks up sound anomalies, which indicate potential machine issues, so that such issues can be resolved before any catastrophic breakdowns happen, helping clients save millions of dollars in the process.

Groundup.ai’s solutions support industrial companies to take a proactive approach to machinery reliability and workplace safety, ultimately helping to improve the lives and work conditions of those in the industrial sector.

Its solutions have been deployed across various industries, including manufacturing, maritime, and construction.

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

The post Groundup.ai bags US$1.8M to help firms prevent unplanned downtime of industrial assets, improve workplace safety appeared first on e27.

Women in politics face a unique set of challenges that are not experienced by men. They are often subjected to sexist attacks, gender-based discrimination, and harassment both in the physical world and online.

Misinformation and cyberbullying are the two biggest problems that women in politics and women in the public sphere face today. Many of the cases we have seen on the internet show that women in public receive enormous hate speech because of organised misinformation distribution more than men. While many politicians were forced to resign, some cases led to violence, robbery, and even murder.

Addressing the misinformation and cyberbullying

Often, this misinformation and hate speech is impossible to stop at its peak, and the platforms like Facebook or Twitter do not provide an effective way of dealing with this or correcting the misinformation. These issues have serious consequences and can harm women’s reputations, affect their careers, and even threaten their safety.

Also Read: #She27: Celebrating 27 women shaping the future of tech

Several countries face these issues, and female politicians across the globe have resigned from their roles due to organised misinformation and cyberattacks. This has happened in Brazil, the UK, and many other countries. In my country, Mongolia, for example, I have resigned from my government role as a result of organised political attacks on social media.

From my own experience, I joined the Government as a Chairwoman of the Communications and Information Technology Authority at the age of 27 with a mission to digitise Mongolia’s government and public service.

As soon as I joined, we started the E-Mongolia platform and launched it on 1 October 2020. By the time I resigned, we had digitised over 2,000 government services and gained over two million users, which is 90 per cent of the adult population of Mongolia.

Since digital transformation has been growing very actively, we established a Ministry of Digital Development and Communications of Mongolia. I was first appointed as a State Secretary and soon promoted to Deputy Minister. My vision has been to transition Mongolia to a Digital Nation.

In late 2022, videos of me speaking at a conference in Saudi Arabia the year before were cut, mistranslated, and spread on social media. This led to hate speech directed at me as a woman and as a young leader, with my family also at the receiving end of some attacks. My case was not the first case and will not be the last.

Working towards creating a more equitable and just society

Globally, there has not been any efficient way of monitoring misinformation and its harm. Even though some countries have taken action to regulate it through privacy laws, we have yet to see a  positive impact.

Therefore, regulating oligopolies in social media and, given the nature of the internet, these efforts have also proved to be problematic. To address these issues, we need a coordinated government, civil society, and social media companies.

Also Read: #MeToo in startups in SEA and the silence surrounding it is deafening

Governments can enact legislation that protects women in politics from harassment and discrimination. Civil society can work to raise awareness about these issues and advocate for better policies and monitor actual implementation. Tech companies can take a more proactive approach to monitor and remove harmful content that targets women in politics.

It is very important to create an equal environment in politics for our future. Therefore, we should create a system that provides legal support and training on how to navigate online harassment. It is also important to create a safe space for women in politics to share their experiences and connect with each other, such as through women’s political networks and NGOs.

Ultimately, it is crucial that we work towards creating a more equitable and just society where women in politics are not subjected to gender-based discrimination, harassment, and violence. This requires a collective effort from the government, civil society, tech companies, and individuals to challenge patriarchal norms and promote gender equality in all spheres of life.

Only by working together can we create a world where women in politics can thrive and make actual contributions to society without fear of harassment and retaliation.

–

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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The Year 2023 is fast into its first quarter, and businesses around the world are keeping close tabs on their performance as the global economy weathers high inflation and an impending recession.

The reality is even starker for local SMEs in cosmopolitan Singapore, where they are more vulnerable to global economic fluctuations.  Every business decision made holds much more weight in the future of the company as more SMEs in Singapore look to expand into overseas markets to scale operations while searching for cost efficiencies.

Singapore SMEs received the news in the nation’s Budget 2023 that this year’s focus would be on talent building and seizing new opportunities amid the heightened global uncertainty. This comes in line with the merger and acquisition objectives of Japanese companies looking to expand their business overseas, driven by the search for more cost-efficient production channels, new markets for expansion or diversification of revenue and cross-cultural management capabilities.

For Singapore SMEs, Japanese investors offer great benefits as the interests of both parties are aligned with the focus on growth in ASEAN. At the same time, for a Singapore company looking to enter the Japanese market, being backed up by a Japanese company will position itself in the trusted keiretsu network. The Japanese word “keiretsu”, which means “group”, describes a strategy that encompasses mutually beneficial relationships among independent companies through shared goals that provide a level of trust.

A gateway to shared values and synergistic fit

With the increase in Japanese companies looking to diversify their business through investments in ASEAN, Singapore is primed as the gateway to ASEAN in the post-pandemic era. This is even more so in recent years, with Japanese tech firms expanding via Singapore.

Also Read: What businesses should take note of before taking the M&A leap

Japanese companies look to Singapore companies as esteemed long-term business partners, placing high importance on having a cultural fit often beyond typical synergies in M&A. By “cultural fit”, we mean that instead of just integrating two different cultures into one, Japanese companies tend to look for the assimilation and accommodation of their Singaporean partners’ company culture.

This provides local SMEs with a greater sense of stability and assurance that their corporate culture is appreciated. Both parties would be committed to the growth of their businesses while preserving their respective company culture. Thus, setting the stage for a successful M&A.

The emotional strings that come with M&A

M&A is more than a marriage. More often than not, M&A between organisations involves more stakeholders and impacts more people than a marriage between two families. The risks run higher, and failure can arguably be more detrimental.

Many Singapore SMEs are family or founder-led businesses where the M&A process is very much an emotional journey vis-à-vis a transaction one. Such transactions have the same challenges as any M&A transaction, with the added complexity of the family’s or founder’s strong attachment to the business.

Being a once-in-a-lifetime transaction, the financial dependency of the owners’ wealth in their business and the strong emotional bond with the business are distinct characteristics of these transactions.

A founder-led business itself with over 30 years of history, the track record of Nihon M&A Center is built upon its expertise in intermediary services in mergers and acquisitions, serving as a link between companies to bring about the agreement in fulfilling the intended outcomes of each transaction.

Preserving corporate identity, observing respect for autonomy, and maintaining the status quo of an acquired company are prioritised by the firm’s network of Japanese investors.

This means that the management team of acquired companies retain significant control of the business and maintains their unique identity and culture, with the support of the Japanese parent company for their business plan post-transaction.

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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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Dear Pro member,

For Southeast Asia’s female-founded startups, there was little to cheer about on this year’s International Women’s Day.

As per a DealStreetAsia report, VCs invested only US$2 billion — or just 12.6 per cent of the total capital in 2022 — in the startups founded by women. A significant 32% drop from 2021’s US$4.43 billion!

Despite the global campaigns against gender disparity in the startup world, startups founded by women are not getting adequate attention. Appointments of more women partners in VC firms could make a difference. What else can be done to improve the situation? Please share your suggestions.

Last week, we spoke with Jojo Malolos, the newly appointed CEO of the embattled Filipino fintech startup Paymongo. He discussed the ongoing issues in the startup and his plans to steady the ship. This interview will mostly be published next week.

Have a look at the top startup stories of Southeast Asia.

Sainul

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TaniHub’s fate hangs in the balance
The agritech company is currently under a temporary suspension of debt payment obligations; During this period, it needs to work out an arrangement to repay the creditors, failing which it may face bankruptcy proceedings.

SEA’s female-founded startups bag fewer dollars in 2022
Female-founded startups raised US$2B in equity funding, which is just 12.6% of all private capital raised during the year; Funding for female-founded startups dropped 32% last year from 2021’s US$4.43B.

Shopee lays off 200 employees in Indonesia
The decision aims to improve Shopee Indonesia’s operational efficiency; The news comes after Shopee recorded its first-ever profitable quarter in Q4 2022, with US$196.1 million in adjusted EBITDA.

SG’s tech talent war to continue as the job market stabilises in 2023′
A report by NodeFlair and Iterative reveals that local tech giants such as Shopee and Grab are proven to have power alongside international tech giants such as Bytedance and the FAANG.

Shopee surprises with first-ever quarterly profit
In Q4 2022, the e-commerce major logged US$196.1M in adjusted EBITDA; That’s a massive turnaround from the US$877.7 million in losses it posted in the same quarter a year prior.

Grab prepays US$600M in debt
According to the report, Grab’s existing debt under the term loan is down to US$517M; In February 2021, Grab secured a term loan facility of US$2B.

Grab CFO sells US$1.1M in shares
Peter Oey has sold 341,000 shares in the super app at US$3.17 apiece; Oey was appointed as the CFO in April 2020; He previously served as CFO for legal tech company LegalZoom and US consumer internet business MyLife.

Indonesia’s LinkAja posts 30% revenue jump in 2022
The fintech company said its operational expenses decreased by more than 50% y-o-y; As a result, LinkAja saw its EBITDA loss narrow by more than 60% last year.

Green Li-ion nets US$20.5M in pre-Series B round
The investors include Banpu NEXT (Thailand), Energy Revolution Ventures (UK), TRIREC, and Equinox Ventures; The Singaporean greentech company specialises in battery recycling technology.

Crypto lender Babel Finance to undergo restructuring
It has filed for a moratorium in Singapore to restructure its financial position and repay creditors; Upon the filing, the Hong Kong- and Singapore-based crypto broker will automatically receive a moratorium for 30 days.

Temasek’s SeaTown Holdings invests in Foundation Healthcare Holdings
FHH plans to expand its network and coverage through a “buy-and-build” strategy and extend into other ancillary healthcare services.

Singapore’s SWC Global leads US$7.5M Series A of Growfin
Other backers are 3one4 Capital and angels; India-based Growfin helps B2B firms optimise their working capital by accelerating payment collections from customers and improving cash flow efficiency.

EasyStore acquires Singapore’s chat commerce platform NovoChat
EasyStore merchants will be able to manage and automate customer communication with the help of ChatGPT across multiple chat channels, including WhatsApp, Messenger, LINE, and Telegram, from a single centralised inbox.

Singaporean startup The GrowHub nets US$3M pre-Series B
The investors are strategic individuals; The GrowHub enables producers and consumers to track, market and understand consumer behaviour and patterns using its Web3, NFC and QR code solutions.

EMERGE Group bags US$2.2M to expand its e-sports network in SEA
The investors include Farquhar Venture Capital and Arcane Group; The group claims it has over 580M audiences through its network of thousands of content creators and players from renowned e-sports teams.

Singapore’s Groundup.ai bags US$1.8M seed capital
The investors are Wavemaker Partners, SEEDS Capital and angels; Groundup.ai helps companies prevent unplanned downtime of heavy machinery and uses Computer Vision to improve workplace safety and save lives.

Init 6 backs pre-seed round of Indonesian D2C firm Gently
Gently is a mom-and-babycare brand; Although its products were only launched in April last year, Anjani said that Gently has sold over 10,000 products.

Capital A names CEO, CFO of AirAsia Digital
Colin Currie is the new CEO, and John Cheing is the CFO; AirAsia Digital houses the operations of its logistics firm Teleport, fintech arm BigPay, and the AirAsia Super App.

Endeavor Indonesia’s managing partner passes away
Wayah Surya Wiroto, oversaw the networking firm’s ScaleUp accelerator programmes and was a driving force in the local entrepreneurial community.

‘It is not just another event but an opportunity for all’:
The TOP100 competition helps founders build relationships with like-minded individuals in the startup and technology industry, shares an alumnus.

These 15 startups might just be part of this year’s TOP100
From our diverse pool of applicants, get to know these 15 startups that are close to competing at this year’s competition.

#She27: Celebrating 27 women shaping the future of tech
#She27 aims to amplify the voices of women in tech, highlight their achievements and inspire the next generation of female leaders.

These two sisters are on a mission to popularise immersive technologies in Brunei
Rumine Corporation enables businesses and industries to create customised AR, VR, Mixed Reality, XR, and Applied Games; It offers a customisable platform for personalised learning where users can train remotely.

Pocket Sun of SoGal Ventures warns against ‘purple-washing’ startup investment
Pocket Sun insists on the importance for investors to take action, instead of just presenting the image of being women-friendly.

How Singapore became a leading femtech startup hub in SEA
According to Fermata, there are two factors that help support the femtech industry in Singapore in 2022

The digital decade in SEA: How UK plans to embrace it with the local startup ecosystem
In Singapore and Southeast Asia, the UK has done several initiatives to connect with the local tech startup ecosystem.

Tech firms in SEA poised to ‘leap’ forward with gender equality
Within the tech industry, Southeast Asia is seen as a force leading the way for change by steadily narrowing the gender gap.

Bolstering Malaysia’s vibrant business landscape with the retention playbook
Strategies on customer retention, data analytics, personalisation, and loyalty programmes take centre stage in Malaysia.

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Echelon Asia Summit 2023 brings together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups can pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

The post Ecosystem Roundup: TaniHub in the soup; SEA’s female-founded startups struggle to raise funding; Job cuts in Shopee Indonesia appeared first on e27.

As the dreary funding winter continues to soar, at e27, we are kickstarting a new article series Line of Hire to understand an organisation’s culture and hiring philosophies to empower tech workers with the right growth tools and enable business owners to attract talent.

Cory Brown is an experienced entrepreneur with a passion for customer service. With over 15 years of experience in the tech industry, he co-founded Pronto Marketing, one of the leading website management and marketing agencies for SMBs. 

Brown is the Founder, CEO and Product Owner at Simplesat, a customer feedback management tool designed to make it easy and fun for businesses to gather and understand customer satisfaction.

Brown’s obsession with customer service and desire to create a better feedback tool led him to create Simplesat. His vision for the company is rooted in the belief that simplicity, usefulness, and fun are key to building great customer relationships.

Brown discusses his company’s culture and hiring philosophies in this candid interview.

What personality traits/qualities do you look for in potential employees?

We’re all about finding the right people for our team. Technical skills are essential, but we also look for certain personality traits that make a great Sim. We want people eager to learn and grow, bring a positive attitude to work, have a proven track record of success, and have diverse interests outside of work. And I love it when we come across someone a little weird or different.

At the end of the day, we’re looking for individuals who not only excel at their job but also fit in well with our team culture and values.

How do they fit into your company culture? Tell us a little more about your company culture.

We embrace a “leader-leader” approach at Simplesat, which means that everyone has the potential to be a leader and contribute to the team’s success. We’re also all about flexibility and responsibility — we empower our employees to take ownership of their work and make decisions that work best for them.

Also Read: There is an opportunity in every winter: Stephanie Ping of WorQ

Our brand values are another critical aspect of our culture. We’re all about keeping things simple, useful, and fun! We strive to make our products and services user-friendly and solve customers’ problems innovatively. And we try to make everything we do enjoyable – after all, we believe work doesn’t have to be boring!

As for my leadership style, I’m a hardcore introvert and prefer not to micromanage people. Instead, I believe in fostering a culture where everyone is self-motivated and autonomous. 

Simplesat’s overall culture is one of collaboration, creativity, and innovation, and we’re always looking for ways to create a positive and productive environment for our team.

How do you foster transparency and encourage achievement in the workplace?

Transparency and achievement are two critical components of Simplesat’s culture; we take both very seriously. Here’s how we foster transparency and encourage achievement in the workplace:

• We use daily check-ins using Basecamp, allowing everyone to see what others are working on.
• We have monthly town hall meetings where we share updates from each department.
• I meet with each employee regularly to allow them to ask me anything they want. These meetings allow employees to voice their concerns, share their ideas, and receive feedback on their work.
• We’re a relatively small startup and don’t have a robust “levels” system for career goals yet. Instead, we’re focused on creating value for our customers, and adding more value constitutes achievement at Simplesat.
• When a team member achieves something noteworthy, we celebrate it. Whether hitting a significant milestone or completing a particularly challenging project, recognising and celebrating achievements is essential for building a positive and supportive work environment.

Do you have a mental health policy? What does that look like?

We don’t have a specific “mental health policy”, but I think Simplesat’s culture and benefits accommodate those struggling with mental health issues. Here are a few things we do to support the mental health of our team members:

• Work from home: We’re primarily a remote company, which means that our employees have the flexibility to work from comfortable and safe spaces. This can be especially helpful for those needing daily breaks to manage their mental health.
• Flex days: We have a flex days system where employees can work on a weekend or holiday and then take another day off. This system allows employees to manage their workload in a way that suits their individual needs and can help prevent burnout.
• Sick and vacation days: We offer generous sick and vacation days, giving employees the time they need to recharge and take care of their mental health when needed.
• Open communication: We believe in creating an environment where employees feel comfortable talking openly about their mental health. We encourage open communication between team members and provide resources for those who need extra support.

WFH or WFO, or hybrid?

We’re hybrid. We don’t have any set rules or requirements for how many days per week employees should be in the office. Instead, we encourage our teams to work together to find the best arrangement for them.

I’m not a fan of 100 per cent remote work. While WFH can be convenient and beneficial in many ways, personal relationships and face-to-face interaction are extremely important for building trust and fostering creativity.

Ultimately, our goal is to create a work environment that allows our employees to be productive, engaged, and fulfilled in their roles, whether they’re working from home, the office, or a combination of both.

How should a tech worker prepare for the funding winter?

In general, when preparing for a funding winter, tech workers must focus on adding value to their company and being as efficient as possible.

Also Read: Keep learning and building relationships during funding winter: Richard Yan of Airwallex

For employees to position themselves not to get laid off, ensuring that their actions directly contribute to your company’s goals and objectives is essential. This means taking a proactive approach to your work and finding ways to add value wherever possible.

For founders and CEOs, we need to focus on efficiency. This may mean eliminating waste and trimming excess fat in your company’s operations. Review your marketing campaigns, features you’re building, or other company initiatives to see where you can streamline processes and reduce costs.

To end with a positive note, a funding winter can be a strong driver that forces us to become leaner and more profitable.

How do you measure the performance of your employees?

It’s important to have a combination of formal and informal feedback channels to ensure everyone is clear on their responsibilities and KPIs.

Performance reviews every six months allow for a more in-depth evaluation of each employee’s performance and values. Complementing these reviews with self-evaluations and 360 reviews provides a well-rounded picture of how employees perform and their colleagues perceive them.

In addition to these formal evaluations, it’s important to have ongoing feedback channels in place. This can include daily or weekly check-ins to ensure everyone meets their responsibilities and KPIs. As a smaller company, it’s also easier to identify when someone isn’t pulling their weight and address the issue early on.

When hiring, will you consider a moderately skilled person with great honesty or a highly skilled person with less honesty?

If a less-than-honest applicant tells us he or she is highly skilled, how can we trust that he or she is telling the truth?

Do you encourage ‘intrapreneurship’ in your organisation?

While we’re a startup focused on executing our product and marketing roadmaps, I do encourage my team to innovate within their own roles. I actively discourage micromanagement and instead value self-motivation, proactivity, and action-oriented mindsets that are common among entrepreneurs.

I wouldn’t say that we encourage intrapreneurship in the traditional sense of employees developing their own products or services. As a small team, we need everyone rowing in the same direction to ensure efficiency and success.

How do you support upskilling for your employees?

We have several initiatives in place to support their growth and development. We have The Simplesat Library at our Bangkok office, which has books on various topics. If an employee wants a particular book, we buy it for them. We also allocate a generous training budget for anyone who wants to attend a course or conference.

I also believe that employees should take responsibility for their upskilling. I encourage our team to be proactive and self-motivated in learning, trying new things, failing, and learning from their experiences.

I don’t believe in organising training sessions that feel like school. Instead, we clarify what is expected of everybody and provide them with the necessary resources to meet those expectations.

Ultimately, I want to support our team in their professional growth and development, but I also expect them to take ownership of their learning journey. 

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Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.

The post We are all about keeping things simple, useful, fun: Cory Brown of Simplesat appeared first on e27.

Recently, Singapore incorporated a new transfer requirement that requires users of crypto wallets to provide additional information–including ID number and residential address–for both outgoing and incoming digital token transfers. Called the Travel Rule, following its incorporation, crypto exchanges such as Crypto.com and Gemini introduced a new measure to comply with the regulation.

As a digital wallet infrastructure platform, Liminal aims to help its users comply with the regulation by securing a partnership with end-to-end crypto solution provider Notabene.

The collaboration allows Liminal and Notabene to provide an integrated solution for compliant crypto transactions which included the provision a plug-and-play Travel Rule solution within its platform for its clients.

“Crypto wallets, and especially businesses that hold digital assets on behalf of their users, have been experiencing attacks on various fronts. For example, if [criminals] stole their private keys on a server or on a hot wallet, then their server might get compromised and they will lose their funds. Then, there are other examples such as a single point of failure or sometimes a situation where only one person is in charge of handling the keys, wallets, and digital assets then sometimes they got compromised,” explains Liminal Founder Mahin Gupta in an interview with e27.

He then explains how the partnership with Notabene comes to be and how they plan to make a difference with it. According to Gupta, his company was impressed by Notabene’s move of figuring out how their tech solutions can help digital wallets with compliance which started even when the Travel Rule was still being discussed.

Also Read: What opportunities lie ahead for compliance technology in 2020 and beyond

“The team had noticed the usefulness of this protocol and technology, so they started working on it,” he says.

Gupta further explains how the Travel Rule is a difficult protocol to implement, particularly in the matter of creating stability in a cold wallet or hot wallet with millions of people transacting using it.

“Different countries have different thresholds and reporting standards, so it’s a complicated product to build,” he says.

“Now, if you expect a startup to build this product, it will be really difficult for them, because most of the time, their focus will be on their use case–rather than getting compliant. Unfortunately, because of that, a lot of startups work in an insecure or incompliant manner.”

In addition to helping Liminal set up the configuration in a speedy manner, the partnership also enables Liminal’s users to use the platform without transaction limits.

“This is a very big and important part because you want to remove as much resistance as possible from the startups to become more compliant. You want to make sure that compliance and regulation don’t become just an obligation, but also a part of their infrastructure and product strategy,” he stresses.

“Because of the reduction in their development effort and timeline, plus their initial investment into using the solution, the startups are more inclined and incentivised to implement Travel Rule. Eventually, if most startups start implementing Travel Rule, it will eventually improve the number of transactions being travelled with compliance. That will give more and more confidence to regulators and various stakeholders to allow more activity into the digital assets ecosystem.”

Also Read: Why fintech companies and regulators need to collaborate on gaining trust and compliance

Compliance is the way to go

As a digital wallet infrastructure platform, Liminal aims to build an efficient and compliant wallet operating system where users can with various digital assets and blockchains securely.

Its customers are mainly in the Asia Pacific and MENA regions which Gupta notes as having different characteristics and needs. Its clients include crypto exchanges or digital asset businesses that use the tech provider to build their wallet infrastructure platform. They also have traditional businesses that want to be able to manage their assets using the technology, DeFi platforms, and many more.

Gupta says that Liminal has recently crossed US$5 billion worth of transactions and attained CCSS Level 3 certification which he considers a big milestone for the young company.

In its business strategy, Liminal puts emphasis on the importance of compliance in building an efficient solution.

“It may look like a short-term pain, but in the longer run, this is going to help the industry and the existing players who are still building. It will make them stronger and better, an actual revenue-generating and value-providing business,” he says.

“We want to make sure that every business … has an opportunity to build an efficient, compliant and secure wallet infrastructure so that they can build the various use cases on digital assets.”

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Echelon Asia Summit 2023 is bringing together APAC’s leading startups, corporates, policymakers, industry leaders, and investors to Singapore this June 14-15. Learn more and get tickets here. Echelon also features the TOP100 stage, where startups get the chance to pitch to 5000+ delegates, among other benefits like a chance to connect with investors, visibility through e27 platform, and other prizes. Join TOP100 here.

Image Credit: Liminal

 

 

 

The post Why Liminal sees compliance as the way to go for the crypto industry appeared first on e27.

In Kuala Lumpur, Malaysia, one of the most dynamic tech startup hubs in the region, CleverTap‘s Big Leap Roadshow brought together influential business leaders to discuss cutting-edge strategies for customer retention and engagement in today’s fast-paced marketplace. The industry experts in our panel shared valuable insights on a wide range of topics, including customer segmentation, personalisation, loyalty programmes, data analytics, and AI-driven solutions for digital marketers — all of which present great value for businesses in today’s increasingly unpredictable market.

Aptly titled “Retention Playbook Malaysia: How to engage and retain customers in a rapidly evolving market”, the event featured top executives from leading companies who discussed retention strategies like personalised marketing campaigns, targeted promotions, data-driven decision-making processes, and AI-powered loyalty programmes.

Also read: In today’s unpredictable market, is customer retention possible?

At The Big Leap Roadshow, attendees gained access to valuable and actionable insights on the latest and most innovative tactics for boosting customer engagement and loyalty across all business channels, enabling attendees to take action and achieve immediate results. Moreover, attendees were also able to connect with peers and industry experts, sparking potential partnerships and strategic collaborations.

Here is a recap of some key takeaways from the exciting event:

A critical reflection on the marketing landscape in 2022 and its prospects in 2023

During the discussions, participants expressed that the global market has drastically changed in recent years due to the emergence of new digital technologies, big data analytics, and AI-driven automation tools. They emphasised the need to adjust strategies, shift from traditional marketing tactics, and optimise campaigns for maximum ROI by rethinking the customer journey with new touchpoints and channels.

In 2023, marketing will evolve with a focus on personalisation and targeting through customer segmentation. Companies leveraging machine learning or natural language processing can deliver personalised content based on past behaviours.

Growth leaders at the event agreed that in 2023, customers will seek convenience without compromising on quality. They prefer sustainable products and services, such as reducing plastic waste through packaging innovation and using renewable energy like solar power.

The vital role of technology and innovation in the marketing strategy decision-making process

Understanding upcoming opportunities and challenges in the marketing landscape, The Big Leap Roadshow Malaysia attendees underscored the importance of innovation in marketing strategy and the push towards embracing new technologies in improving customer experience and promotional tactics.

To create a strong customer experience, companies must leverage data analytics and related techniques to gain valuable insights into customer behaviour. These insights can then be used to tailor products and services to meet their exact needs, as well as to create targeted marketing campaigns that attract new users and retain current ones.

To increase sales volume and retain satisfied customers, businesses should enhance current loyalty programs. By incentivising repeat purchases and encouraging brand advocacy, customers are more likely to remain engaged with the company’s offerings over time and avoid losing potential future business opportunities.

Also read: Why your startup deserves to take part in the 2023 TOP100

To increase conversion rates and revenue, businesses must take advantage of targeted digital advertising mediums, such as Google Ads or Facebook Ads, to send personalised messages to potential customers.

Social media channels like Facebook, Instagram, and Twitter are excellent resources for building brand awareness, engaging directly with customers, and acquiring real-time and constant feedback on what works best for each customer segment. By adopting these channels, businesses can create strong bonds with their customers and foster long-term loyalty.

Practical strategies and advice from participating growth leaders

At the Big Leap Roadshow in Malaysia, growth leaders shared effective strategies. Salihah Noh, Head of Digital at Boost, highlighted how gamification emboldens customer engagement and loyalty. By rewarding customer support, businesses incentivise continued interaction for continued rewards.

Boost uses gamification, such as the “Loyalty Points” system, to award users points for purchases or interactions. This approach is highly effective for customer retention, as it incentivises repeat purchases and interactions while making users feel appreciated for their loyalty.

Also read: The first 10 frontrunners closer to competing in the 2023 TOP100

One example of leveraging mobile technology to create an enhanced user experience is AirAsia’s SuperApp. AirAsia’s SuperApp rewards loyalty programme points that can be used for future purchases or partner store redemptions across the Asia Pacific region. Periodic special promotions offer discounted rates on air tickets or hotel stays when booking through the SuperApp. Social media integration also drives customer retention and organic growth, allowing users to share experiences online and promote products and services within the platform.

With significant gains from insightful sharing and networking opportunities, CleverTap’s Big Leap Roadshow proves to be a must-attend event for business leaders and entrepreneurs residing in the region. 

The next stops of the thrilling tour will be in Manila, the Philippines (March 8th, 2023), and Jakarta, Indonesia (March 16th, 2023).

Grab your seat at the event by registering here!

The post Bolstering Malaysia’s vibrant business landscape with the retention playbook appeared first on e27.

Registration for TOP100 is now open and we are looking forward to seeing your startup on the list!

TOP100 Program gives you the one golden chance to connect with hundreds of investors, showcase your startup at Echelon, pitch on the TOP100 stage, and access special programs. Find out what’s new in TOP100 and join here: https://bit.ly/TOP100_2023

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Now that Echelon Asia Summit is coming back in full swing, e27 is determined to make one of its key features, the TOP100, one of the best yet!

The TOP100 program is an annual initiative organised by e27 to showcase and recognise the most promising startups in the Asia-Pacific region.

The program is open to exciting new startups from the Asia-Pacific region with innovative ideas that break barriers across different industries. The selection of the TOP100 involves a rigorous screening process, including an evaluation of the startup’s product or service, team, market potential, and traction.

Also read: Bolstering Malaysia’s vibrant business landscape with the retention playbook

The selected startups are given the opportunity to pitch their business ideas at the Echelon Asia Summit this June 14-15, 2023, at the Singapore Expo. The program also provides exposure to investors, mentors, and potential partners, enabling growth among participating startups and helping them expand their networks across the larger global tech ecosystem.

The TOP100 program has become one of the most prestigious startup competitions in the region, attracting thousands of applicants each year and providing valuable visibility and support to the most promising startups in the region.

15 startups closer to competing at this year’s TOP100

Being a frontrunner refers to startups close to making it to this year’s TOP100 program.

With all the amazing startups sprouting across the Asia-Pacific region’s vibrant tech startup ecosystem, we now present you with 15 frontrunners closer to competing at this year’s TOP100. Get to know them here!

CAWIL.AI

CAWIL AI is an industry-agnostic artificial intelligence solution with custom machine learning models that can be deployed locally and through cloud integration. CAWIL AI’s value proposition is its experience in utilising data-driven information for digital transformation providing a seamless and easy-to-integrate cloud-based platform for an on-demand transaction.

CAWIL AI provides digital transformation through AI. Their solutions address Sustainable Development Goals number 9: Innovation and Infrastructure through their digital platform for environmental and corporate management, utilising AI & IoT, and SDG number 12: Responsible consumption, production from agriculture, and supply chain management.

TrinityEco

Founded in 2019, TrinityEco Pte Ltd is an aspiring sustainability tech company in Singapore that provides sustainability reporting products and services for assets, both physical and digital. They have also developed Trivity, a platform that helps to create sustainability reports that encourage collaborations and financing between companies and their corporate partners. TrinityEco’s data analytics platforms help organisations to sustainably scale by providing predictive decision-making and intelligence-backed actions.

Ever AI Technologies

Ever AI is the first No Code AI Platform where everyone can build their own AI model without writing a single line of code.

Ever AI helps businesses and education organisations adopt AI with affordable cost and reduced time to market from 3 to 6 months to just 3 to 6 hours. Users can build their own AI model using their data and deploy it as a web application without writing a single line of code.

RAPUTA

RAPUTA is an online virtual world streaming platform and digital content distribution service that allows users to play and interact with customised 3D avatars in AI-generated virtual worlds.

The RAPUTA platform enables users to chat and interact with others with photorealistic 3D avatars in digital worlds on an internet browser. Their solution provides the best metaverse social networking experience without the need for VR. RAPUTA’s vision is to transform text messaging and video image processing into a movie-like 3D virtual world.

Cerebro

Cerebro is a courseware featuring ready-made lessons and quizzes for Philippine schools, reducing teachers’ workload by up to 400 hours per year.

Cerebro helps teachers jumpstart online teaching with the least amount of preparation possible, allowing them to save up to 400 hours per year through ready-made digital content on a managed cloud platform as a solution for reducing faculty workload and improving the quality of online teaching.

Xctuality Pte Ltd

Xctuality is an immersive technology startup that is connecting people everywhere by developing the next evolution of social networking that connects people with immersive experiences.

Xctuality was born from years of on-the-ground experience with renowned cultural events and festivals, such as Slush Singapore, F1 Singapore Grand Prix, Streats Food Festival, the Singapore National Day Parade 2020, Singapore International Arts Festival, and Majulah Festival with the company’s experiences in providing E-ticketing and smart event solutions aside.

LTS Ventures

LTS Ventures is a Lao FinTech and Investment company. They are developing businesses and creating software for the financial sector. LTS Ventures is digitising every transaction of 850 village banks to provide risk metrics, credit scores, and predictive loan analytics. Their platform allows many verticals to build in such as climate change protection, social payments, and food safety. 90% of customers are small-hold farmers that the company can directly strengthen and support through their digital platform. Finally, LTS Ventures also offer financial literacy training so that people learn sustainably how to manage their money.

ALPHACIRCLE Inc.

ALPHACIRCLE is a renowned startup that has created a cutting-edge visual enhancement software called ‘ALPHAView’, which enables content creators to produce high-quality, original VR videos. Their proprietary algorithm is utilised during both the encoding and decoding process, enabling the distribution of four times more pixels to create the most immersive experience possible. This advanced technology allows viewing videos in 8K 3D through smartphones and VR headsets, providing viewers with unparalleled visual clarity.

Also read: In today’s unpredictable market, is customer retention possible?

Loyalty Data Co

Loyalty Data Co creates Whitelabel B2B platforms that power Status Match or Challenge offers for major loyalty program providers. Their Status Match technology facilitates high-value customer acquisition.

The B2C platform supports consumers in their status journey. The corporate sales and loyalty team collaboration platform app allows for faster, more transparent onboarding of new high-value customers. Airlines, hotels, cruise liners, car rentals, and loyalty programs — which offer elite status gifting to new customers — will benefit from Status Match invitation management.

Red Dot Analytics

Red Dot Analytics (RDA) Pte. Ltd. is a deep tech spin-off from Nanyang Technological University (NTU) Singapore that pioneers in the industrial metaverse space.

They envision transforming the applications of AI and digital twin solutions to digitalise, optimise, and automate physical operations and systems for businesses and organisations, beginning with data centres as their beachhead market.

The company is known for its award-winning cognitive twin solution and has been working with well-known data centre operators in the APAC market, ranging from hyperscale to colocation and enterprise data centre customers. Red Dot Analytics was co-founded by a team of professors and researchers from NTU and industry veterans from infrastructure sectors.

The Posture Lab

The Posture Lab is a registered social enterprise focusing on online and offline solutions to improve posture and reduce common chronic pain problems. Their clients come from diverse backgrounds from the sedentary, desk-bound, underserved communities, as well as amateur to professional athletes and performers. The Posture Lab team has a strong practitioner pool of sports science graduates with an understanding of sports, performing arts, and skills to work with the sedentary and underserved communities.

PriyoShop

PriyoShop is an on-demand B2B marketplace in Bangladesh that empowers retailers by connecting them directly to suppliers to fix the fragmented supply chain.

The company’s platform connects small-scale retailers directly with manufacturers and suppliers. PriyoShop’s app allows small retailers to procure inventory from wholesalers, distributors, and manufacturers at competitive rates. When we talk about small businesses, we primarily focus on neighbourhood mom-and-pop shops, also known as retailers. These are the small shops we see around us on our streets. If we talk about the former, 97% of our country’s retail sales take place through them; e-commerce and modern retail play a smaller role. So, the majority of the retail transaction is taking place through neighbourhood shop retailers.

EMPAUWER Pte. Ltd.

Empauwer is an AI-driven platform that helps companies engage and employ​ neurodiverse talents to cultivate a more inclusive workplace. Their vision is a world of equal opportunities where neurodiverse individuals are recognised for their special abilities, not for their disabilities. They created Empauwer to help organisations embrace neurodiversity and create opportunities for neurodiverse professionals to thrive.

BOOQED

BOOQED is a digital platform to empower teams to truly work from anywhere and to help organisations become more agile in their approach to the office.

For many companies, the rise of “work from anywhere” has made office space decisions challenging. With the high cost of renovations and fit-outs, making changes to office layouts to grow or adapt to changes in the organisation is expensive and time-consuming. They also lack relevant data on the usage of their real estate assets to justify and calculate a meaningful ROI. BOOQED simplifies how businesses deal with this process, making it an effortless outsourced tech solution for businesses. Its cutting-edge modular hardware and software platform provides an easy and cost-effective way for companies to create and manage private, flexible work and meeting spaces within their existing offices or buildings.

LOAD2GO

LOAD2GO is an on-demand BIG TRUCK booking platform. Over the past 3 years, the company has achieved 15,000 bookings with a total revenue of USD 4MIL, and more than 3000 drivers and this number is still growing.

LOAD2GO digitises the trucking industry, provides a comprehensive automatic nationwide truck network matching system and achieves the following logistics solutions which have contributed a massive positive impact on society, the economy, and the environment in Malaysia.

A step closer to the 2023 TOP100

After a rigorous screening process, these startups are a step closer to qualifying for this year’s TOP100.

If you are one of the founders of the startups above, a representative from e27 will be reaching out to you soon to discuss with you the next step in your application process. Feel free to get in touch with us for any inquiries.

Also read: Why your startup deserves to take part in the 2023 TOP100

If you have an exciting startup with innovative ideas that can eclipse the best and the brightest in the region, join the 2023 TOP100 and stand a chance to pitch your ideas to some of the top investors in the Asia-Pacific at this year’s Echelon Asia Summit. Register for TOP100 here.

The post These 15 startups might just be part of this year’s TOP100 appeared first on e27.