A multimillion-dollar international express delivery business came from a failed business venture. Ninja Van was founded by three young entrepreneurs who had to give up their struggling fashion line to focus their attention and resources on delivering more than a million parcels daily to customers of some of the leading retailers in the region.

Also read: Grab vs Gojek: Whose strategy should you follow?

The e-commerce touch

Ninja Van’s technology-led model is crucial to its success. It addressed poor logistics infrastructure that posed challenges for retailers and customers and tapped the region’s active and fast-growing e-commerce markets.

Responsible scale up

It was not an easy journey for Ninja Van to go beyond Singapore, but the progress was quick. Instead of growing at all costs, the founders assured of growth “in a responsible manner.” They focused on the people, the customers, and the services, allowing them to achieve profitability.

So, what is Ninja Van’s secret?

Ninja Van has grown and achieved financial sustainability over the years, but how did it handle all the nitty-gritty? At the Echelon Asia Summit 2022, Adriel Yong, Investment Analyst at Orvel Ventures, will explore Ninja Vans’ success in a fireside chat: Pursuing sustainable growth – how Ninja Van increased their growth margin from 8% to 60%. In addition, Alvin Teo, Chief Partnerships Officer at Ninja Van, will be there to answer questions raised about the company’s business model, including:

• How did founders think about growth five years ago, especially when the capital was much more accessible and investors might not have been as concerned about near-term profitability?
• What were some of the critical decisions and actions taken to improve the business?
• What were the difficult tradeoffs that the founders made in pursuit of better margins?
• What methods were tried but didn’t work?
• Where is Ninja Van focused on, and what does growth mean for it in the next few years?

Also read: Echelon 2022: The rise of a new startup profitability culture

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 Echelon Asia Summit 2022 (October 27-28) returns after a three-year hiatus. It aims to gather the most influential decision-makers and industry leaders from the Southeast Asia tech and startup ecosystem.

Register for Echelon Asia Summit 2022 now!

The post Echelon 2022: Ninja Van’s steady path to profitability appeared first on e27.

FinAccel turns unicorn with US$140M in Series D money
The investors include Mirae Asset, Square Peg, GMO Global Payment Fund, Jungle Ventures, Openspace Ventures, Cathay Innovation, and Endeavor Catalyst; FinAccel operates a BNPL service that allows customers to do online and offline transactions and pay for their orders in instalments.

Malaysia’s US$100M startup funding in doubt as elections loom
Financial and political analysts speaking to Tech in Asia noted that as the general elections neared, the budget was like a “carrot” dangled in front of beneficiaries ranging from large businesses and startups to poor households.

Zilingo’s fate in limbo as liquidation question lingers
One of Deal Street Asia‘s sources said Zilingo’s board has decided to shut down and liquidate the firm in a transaction that will see its debtors receive half their money back.

Thai e-commerce enabler aCommerce to delay IPO to next year
According to one of GlobalCapital Asia’s sources, given the current market situation and aCommerce being a tech company, there’s been a lack of visibility on the startup’s earnings, leading to the IPO being postponed.

GoTo’s Electrum targets e-motorcycle by 2024
Electrum is a JV between GoTo and Indonesia’s TBS Energi Utama; Electrum’s MD Patrick Adhiatmadja said it will begin sourcing e-scooters from other companies before producing the units itself.

Indonesian fintech firm Ayoconnect raises US$13M Series B+
The investors are SIG Venture Capital, CE Innovation Capital, and PayU; Ayoconnect CEO Jakob Rost said the next 12 months will be about executing even faster and investing smartly in new solution rollouts.

Indonesia-based Fabelio declares bankruptcy
By the end of 2021, Fabelio staff had reportedly gone unpaid for months; A Change.org petition was created for the startup’s employees, demanding that the firm pay the salaries owed.

Thai beauty e-commerce firm Konvy bags US$10M from Insignia Ventures
Konvy will use the capital to expand its omnichannel and international distribution for health and beauty brands and for hiring; Konvy carries 1,000+ global and local beauty brands, ranging from skincare and makeup to perfumes.

Thai proptech platform PropertyScout raises US$5M Series A
The investors include Altara Ventures, Hustle Fund, AngelCentral, and Asymmetry VC; PropertyScout is an end-to-end real estate transaction platform connecting over 1,800 agents and agencies with buyers, renters and owners.

Indonesia’s Waste4Change secures US$5M Series A
The investors include AC Ventures, PT Barito Mitra Investama, Basra Corporation, SMDV, and Urban Gateway Fund; Waste4Change is a waste management platform for companies, individuals, and government agencies.

Chinese e-commerce enabler sets up regional HQs in Singapore
Baozun is also setting up its Philippine office, with expansion plans for Indonesia, Vietnam, and Thailand in the cards by 2023; It believes that there is an increasing demand for e-commerce tech and infrastructure in the region.

Vietnamese fashion recommerce firm Piktina raises US$1M
The investor is Touchstone Partners; Piktina connects buyers and sellers of secondhand goods, targeting individuals who want to free up their closets and businesses specialising in pre-owned fashion items.

ShopBack chief commercial officer steps down
Candice Ong will, however, continue to serve as a non-executive director on the company’s board; Ong had been ShopBack’s CCO since January 2017, when the company was operating in five markets with around 110 employees.

Singapore’s NFT infra firm Gomu raises US$5M
Investors are Coinbase Ventures, DeFiance Capital, and Saison Capital; Gomu offers NFT Hub, a white-labelled community hub and marketplace for NFT communities, and Collection.xyz, a protocol that enables NFT holders to create a liquidity pool with their digital assets.

India pilots blockchain-based web portal for police complaints
Powered by Web3 infrastructure Polygon Technology, the platform allows for online lodging of grievances; While the project is still in its initial phase, the question of data privacy arises.

Former NEA Partner Amit Mukherjee launches Chainforest DAO to back Web3 startups
Chainforest community consists of more than 400 full-time web3 operators from Polygon, Solana Foundation, Ava Labs, Consensus, Poolsuite, and Friends with Benefits.

The race of Web3 and crypto infrastructure vs big tech
For Web3 to mature, there must be recognition of the value of sovereignty, and UX must continue to improve; Any successful buildout in Web3 requires the availability of secure, reliable, and cost-effective tools at the same [or better] efficiency than Big Tech.

KoinWorks names ex-ABN Amro exec as CFO
Frank Van Deur will develop funding and forecasting strategies and oversee its financial management; Van Deur brings over 20 years of experience in the global finance and banking sector.

Blockchain.com secures green light for SG operations
The crypto financial services firm currently has 84M wallets and 37M verified users from 200 countries; The development follows its peer Coinbase securing a similar in-principle approval from MAS to operate in Singapore.

Sustainable growth in the SEA startup ecosystem: Why tomorrow starts today
At Echelon 2022, we will look at ways for companies to achieve sustainable growth in a post-pandemic world.

The rise of a new startup profitability culture
Learn about how the post-pandemic ecosystem has given birth to a new culture of profitability, opening up new possibilities.

Grab vs Gojek: Whose strategy should you follow?
At Echelon 2022, explore the differences in how the two most prominent tech startups in Southeast Asia are approaching regional expansion.

Globish helps children and working professionals in Thailand and Vietnam master English
Its curricula focus on building communication confidence using post-method pedagogy combined with local contexts matching learners’ behaviours; The lack of trust in online education for parents and schools has been a severe issue in Thailand.

The future of farming in the Asia Pacific is here to empower farmers
To make farming a profitable profession, we need to ensure that the people growing the crops are rewarded fairly for their work; And that starts by placing the farmer at the centre of an ecosystem of integrated solutions.

APAC businesses promoting a culture of sustainability
As the market is looking for more green businesses, incorporating sustainability into a startup’s mission statement can help people notice it.

Creative content business: What it means for streamers and broadcasters
There’s no magic formula or set of data points that can consistently predict which titles will hit and which won’t; Entertainment is a creative industry, and creating content is still principally an art rather than a science.

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Echelon 2022 aims to provide intimate and focused discussions on key topics and business matching services to facilitate business-driven connections during the two-day event. e27 will curate and invite key stakeholders of startups, investors, corporates, and ecosystem enablers to drive towards fruitful business outcomes at Echelon. 

Here’s the full list of the speakers for the 2022 edition, which will be co-located with SWITCH at Resorts World Sentosa from 27 to 28 October 2022. Learn more here. 

The post Ecosystem Roundup: FinAccel turns unicorn, Zilingo’s fate in limbo, aCommerce postpones IPO to ’23 appeared first on e27.

Indonesia-based Waste4Change has announced the completion of its US$5 million series A funding round co-led by AC Ventures and PT Barito Mitra Investama.

Basra Corporation, Paloma Capital, PT Delapan Satu Investa, Living Lab Ventures, SMDV, and Urban Gateway Fund, also participated.

The waste management startup will use the money to expand its reach and increase waste management capacity up to 100 tons per day in the next 18 months. It also aims to reach more than 2,000 tons per day over the next five years.

Waste4Change’s plan also involves integrating more digital technology into the monitoring and recording processes of the waste management flow and automating material recovery facilities. It will also strengthen partnerships with the country’s informal solid waste sector, which is currently powered by scavengers, waste banks, waste stalls, and waste aggregators.

Also Read: Thailand’s PropertyScout nets US$5M to connect realtors to buyers and renters

Established in November 2014, Waste4Change offers upstream and downstream waste management solutions consisting of consultation (research and studies related to solid waste), campaign (capacity building, education, and mentoring), collection (daily waste collection service that supports zero waste to landfill), and creation (waste recycling, extended producer responsibility, and waste credit).

The firm’s mission is to solve waste problems to prevent leakage into the environment and reduce the amount of waste in landfills.

The company operates in 21 Indonesian cities, managing more than 8,000 tons of waste annually. It has collected waste from over 100 B2B clients and 3,450 household clients. Since 2017, it has grown at a CAGR of 55.1 per cent.

Waste4Change Founder and CEO Mohamad Bijaksana Junerosano said, “Indonesia’s waste management sector is still growing, and we are more than ready to assist in the process. With its low 11-12 per cent recycling rate based on Ministry Environment and Forestry data, we know that many valuable materials are still ready to be brought back into the loop. Compared to what we experienced in 2014, today’s market is getting more mature. We will do whatever we can to provide solutions to every waste management need.”

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Echelon 2022 aims to provide intimate and focused discussions on key topics and business matching services to facilitate business-driven connections during the two-day event. e27 will curate and invite key stakeholders of startups, investors, corporates, and ecosystem enablers to drive towards fruitful business outcomes at Echelon.

The 2022 Echelon edition will be co-located with SWITCH at Resorts World Sentosa from 27 to 28 October 2022. Learn more here. 

The post Waste4Change grabs US$5M to shrink Indonesia’s landfills appeared first on e27.

Thailand-based proptech startup PropertyScout has announced the completion of its US$5 million Series A financing led by Altara Ventures.

Partech and many returning investors, including Hustle Fund, AngelCentral, and Asymmetry VC, also participated.

Angel investor Carsten Rahlfs, a partner at Waterland Private Equity, also joined.

PropertyScout will use the funds to scale its core business by doubling down on investments into its technology platform and create an accurate property database for its customers and co-broker partners. It will also look to grow domestically organically and through acquisitions and prepare its entry into additional markets in Southeast Asia.

The startup also plans to boost its current staff of 200 by hiring talent in product and software engineering, sales, property management, marketing, and operations.

Also Read: Singapore’s klikit raises US$2M to bridge restaurants and creator economy

Established in 2020 by Mario Peng, Dr Marco Barth, and Salita Kamnerdsiri, PropertyScout provides an end-to-end real estate platform connecting realtors to buyers, renters, and owners. It currently works with over 1,800 real estate agents and agencies and lists more than 200,000 properties. The firm also digitises and automates 90 per cent of the real estate transaction process, enabling parties to close deals faster.

“The real estate market in Thailand and Southeast Asia is fragmented and plagued by fake and outdated listings. PropertyScout has successfully built a technology platform and scalable processes to solve this problem,” said Peng, Founder and CEO of PropertyScout.

In January 2022, PropertyScout raised US$2.5 million in its pre-Series A round bringing its total funding to US$7.8 million.

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Echelon 2022 aims to provide intimate and focused discussions on key topics and business matching services to facilitate business-driven connections during the two-day event. e27 will curate and invite key stakeholders of startups, investors, corporates, and ecosystem enablers to drive towards fruitful business outcomes at Echelon.

The 2022 Echelon edition will be co-located with SWITCH at Resorts World Sentosa from 27 to 28 October 2022. Learn more here. 

The post Thailand’s PropertyScout nets US$5M to connect realtors to buyers and renters appeared first on e27.

Asia-Pacific has fallen short on sustainability in the past, but many businesses are working to change that. By implementing green business practices, APAC-based companies are creating a healthier environment by promoting a culture of sustainability through initiatives and practices.

Sustainability can do wonders for the planet and business culture. Here are five APAC businesses promoting a culture of sustainability and how entrepreneurs can match their efforts.

Consumer trends pointing towards sustainability

Customers are increasingly interested in buying from eco-friendly brands. A survey from YouGov Omnibus showed that 88 per cent of consumers in Singapore think companies should be responsible for positive change. 56 per cent of the same group believe businesses must also make their supply chains sustainable, but only 46 per cent of owners think the same way.

This gap between consumer needs and company operations creates significant demand for green products. Customers are clearly interested in buying more sustainably, but many businesses aren’t sharing their desire. If new business owners start an eco-friendly company, they could experience higher sales because they’re working to meet demand.

Not only is this important for shoppers, but also investors. Industry expert Jeremy Huang said new and expanding businesses must find ways to grow sustainably and make positive environmental and social impacts. These practices are becoming necessary for those looking to partner with or invest in companies.

Because the market is looking for more green businesses, incorporating sustainability into a startup’s mission statement could help people notice it. Saving the Earth is on many people’s minds now, and they’re actively looking for responsible companies that want to make a difference. Eco-friendly entrepreneurs could meet thousands of people’s needs, carving a stepping stone for their businesses.

Promoting a culture of sustainability in business

Startup companies looking to make their business more sustainable may not know where to start. Forming a plan is an essential first step to promoting an eco-conscious culture throughout all aspects of the business. During the brainstorming process, entrepreneurs can set goals to reach in the next few years, such as:

Also Read: How to tackle climate change by choosing a career in cleantech

• Evaluating the use of virtual currency in the company
• Eliminating single-use packaging
• Using technology instead of paper to communicate and make business plans
• Implementing recycling programmes in offices
• Working towards using electric vehicles in the shipping process

Creating a solid information communications technology infrastructure for quick virtual data distribution is another way to promote sustainability. Business owners can do this by:

• Creating a computer network architecture with various accessibility options for employees and management
• Securing the network to avoid data breaches and losses
• Maintaining the network infrastructure so speed and security stay optimal

However, startups decide to incorporate eco-friendly practices, which help keep the Earth healthy for generations to come.

APAC businesses committing to sustainability

While there aren’t many businesses making the change to greener practices, a few are paving the way. Here are five companies currently working towards sustainability.

Kao Corporation

Kao Corporation is one of the leading APAC manufacturers of health, beauty and hygiene products. This company is committed to green business through its ESG goals for its working environment and customers.

The corporation launched the Kao Group Mid-term Plan 2025 in 2021, committing the business to promote sustainability and protect the future. Overall, the company has decreased its carbon emissions and water consumption throughout its manufacturing process.

City Developments Limited

A real estate network in 29 different countries, City Developments Limited (CDL) is a Singapore firm that focuses on conservation during construction. It works to repair old buildings sustainably and implement eco-friendly building practices and new solar technologies. 

In 2022, the company ranked fifth in Corporate Knight’s 100 Most Sustainable Corporations, sharply rising from 40th in 2021. CDL also co-sponsors a virtual exhibit showing the impact of climate change on the world’s oceans.

StarHub

Listed as the most sustainable telecommunications company in Asia in Corporate Knights’ Global Top 100, StarHub has implemented several green initiatives over the years.

The company has since reduced its water and energy consumption more and has made strides in curbing the electronic waste problem. By 2030, it hopes to reduce greenhouse gas emissions by 50% and use renewable resources for 30 per cent of its energy use.

Samsung

Samsung is committed to fighting climate change through its business practices and environmental pledges by creating sustainable supply chains.

Also Read: How carbon in the metaverse can help solve the real-world climate crisis

In 2021, the company launched its Galaxy for the Planet programme, which hosts a set of goals to reach by 2025. These include eliminating all single-use plastics from packaging and reducing all smartphone chargers to under 0.005 watts.

Hyundai

Hyundai has committed to reducing its carbon emissions and hopes to be carbon neutral by 2045. Additionally, the automaker is working to end production of all its European combustion engine vehicles by 2035. It continues to put out electric cars through its Genesis line and is incorporating sustainable practices into its production process.

Hyundai is also working to make motorsports more eco-friendly by committing to the FIA World Rally, which hopes to accelerate the use of electric vehicles in the sport and on the road.

Creating a sustainable future through business

With sustainability more necessary than ever, all business leaders must work towards a better future through their practices. Recent entrepreneurs also want to assure their customers they are committed to a low carbon footprint and preserving the world for their families. 

Forming a sustainable company could encourage other companies to follow suit, leading to a better environment through their changes. Making an effort to create an eco-friendly business shows employees, clients and customers new businesses care about saving the environment for future generations.

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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

Image credit: Canva Pro

The post APAC businesses promoting a culture of sustainability appeared first on e27.

It’s no secret that institutions are sizing up blockchain and cousin technologies today. As their tone fluctuates, mainstream media attempts to keep pace with volatility and its sponsors. The disruption of common narratives with Web3, NFTs, metaverses, and Bitcoin are present outside fintech, but these conversations are frequently short-form, narrow views.

Web3 is still a loosely defined phrase, but without scalability, interoperability, and shared security, it’s doomed to the same cycle of euphoria-taboo as the ICO craze just six years ago. The comedy of “Web5” is an easy way to describe the fumble of Web3 as a meaningful phrase today.

We know going backwards won’t heal misunderstandings or improve consumer experiences. A small group of corporations (Big Tech) will feed their needs for profit by any means (especially in this climate of inflation), extorting data like oil in the hopes of slicking more user-activity data products.

Corporations have strangled digital privacy and hampered their reputations, but their need to grow profit margins and public trust can’t end. It’s unrealistic to expect these organisations will grow public trust to the detriment of their other culturally-entrenched responsibilities. 

Also Read: Global Web3 companies on why Asia Pacific is the future of the industry

The everyday internet user is vaguely aware of data privacy. Beyond accepting an occasional cookie policy, users rarely appreciate how Web3 can grant control of the data they produce. The proliferation of Web3 technology educates and motivates internet users to recognise the money they leave on the table in any one-sided data economy.

Web3 should be the cure, but the disease is mostly undiagnosed

Web3 invoking “read + write + execute” is still foreign to most internet users, similar to the moderate-low literacy of average internet users in the late 2000s. Like those free AOL CDs, there’s a plethora of free, easy-to-use Web2 applications available, so venturing into applications establishing data sovereignty requires an educated customer. 

The dramatic changes that Web3 brings are still emerging, and with notable public confusion, the differences in monetisation models are frequently lost in the conversation. With significant benefits ahead, Big Tech has to drive its narrative harder, insisting that its products are safe, trustworthy, and ethical.

This leaves an open lane for Web2/SaaS products to claim some undeserved shine, especially in head-to-head UX and overall task latency. Because dapps require more operations across more systems, they seem closer to the 1990s internet in the eye of the layman. Comparing blockchain transactions and web app latency is an easy way to bend a narrative away from consumer rights towards instant gratification.

Blockchain organisations know this; they’re buckling down efficiency for the bear market. Speed isn’t going to revamp in a glamorous refresh but caching, glossy UIs, and new features give hope to a new swell of users. Some of these components are already in progress, but some solutions require difficult work, especially when acting in the best interest of users over a single chain. 

While tribalism guides Twitter, blockchain organisations behind the scenes are watching liquidity dwindle, affirming their survival needs more than inflows from CEXs. Bridges, oracles, and sidechains are emerging more frequently in smaller-scale structures like app chains, often built as structures to aid traffic between multiple blockchains. Mobile apps today are more interested in a suite of blockchain integrations than a single option, knowing that most users are looking for a series of different dapps and chains. 

With interoperability growing and establishing as a staple need, bridges are pushed to deliver more products more quickly with the goal of streamlining UX. Some products have built to their limit inside the network effects of EVM and are starting to focus on Rust chains like NEAR Protocol, Solana, and Stacks, hoping to cover as many features, dapps, TVL and liquidity as possible. 

Any successful buildout in Web3 requires the availability of secure, reliable, and cost-effective tools at the same [or better] efficiency than Big Tech. Projects like Octopus Network offer tools that address elastic-scaling needs, including a blockchain endpoint, indexer, and explorer.

These solutions, which commonly cost more than US$1 million in their first year to build and run, are provided free to app chains that choose to build on Octopus Network. Compassion in support of growing projects utilising these tools is an often overlooked driver that makes adoption immediately more attainable. 

Accelerating growth in Web3

Octopus Network was designed specifically to accelerate the growth of web3 by directly addressing critical qualities for success,  scalability, interoperability, and shared security. 

• Scalability: Octopus Network resides on NEAR Protocol which utilises a modular consensus called Doomslug in a sharded design, Nightshade. When network congestion is seen, Octopus Network will lobby the validator community to deploy a shard, dedicating a small subset of validators to prioritise Octopus Network transactions. Total chain throughput has been charted at 100,000 transactions per second, with shards commanding over 10,000 TPS without performance optimisation. 

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

• Interoperability: With the unique development of the Substrate-IBC pallet opening fungible asset transfers and trustless bridges based on merkle mountain ranges, there are at least three ecosystems with cross-connectivity and cross-compatibility available today (and improvements in progress).
• Shared Security: Shared security is built into the infrastructure of Octopus Network through a leased-proof-of-stake (LPoS) model. This mandates that chains configure how much the total validator set will earn [and delegators as contributors to validator escrow] not to pay validators themselves. This elastic market of supply and demand derives equilibrium from the price of each app chains’ core asset against planned rewards. 

For Web3 to mature, there must be recognition of the value of sovereignty, and UX must continue to improve. Bitcoin is much faster than bank wires and low-cost ACH transfers, but Ethereum is not faster than modern cloud computing services or mobile apps.

For the “Internet of Money” mentality to grow in virality, cultural understanding of operating value has to grow too; innovation is blitzing forward, but culture doesn’t shift nearly as fast. 

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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

Image credit: Canva Pro

The post The race of Web3 and crypto infrastructure vs big tech appeared first on e27.

The battle for the “Super App” throne in Southeast Asia continues as neither Grab now Gojek, leading tech startups, show plans of slowing down their expansions. The two ride-hailing companies seemed to have found the key to the enormous potential of Southeast Asia’s technology market composed of young and tech-savvy populations. While they have a similar end goal of driving millions of users to dig into their mobile wallets, they have taken different paths to scale. 

Grab: Regional target from the get-go

Grab set its sights on Southeast Asia from the very beginning in a bid to address transportation problems in tier 1 cities across the region. Like other startups, Grab took a growth-at-all-costs approach until it reached a value of $14 billion, signalling a switch to a more strategic model. It chose the route to partnerships with other startups, including HappyFresh, Ninja Van, and Hooq.

Also read: Echelon 2022: The rise of a new startup profitability culture

Gojek: There’s no place like home

Gojek focused on its roots in Indonesia before gradually taking hold of other regional countries. It was the first company in the country to utilize motorcycle taxis for personal transportation and deliveries using an app before adding cars and taxis to the menu. By prioritizing the local market, Gojek built a solid loyal customer base, making it the most-used app in the ride-hailing, food delivery, and digital payment segments among Indonesian millennials.

The path forward

One thing to learn from Grab and Gojek is that there is no single way to get to where you want to be. But what makes more sense for startups moving forward? Do Southeast Asia startups have to think regional from day 1? How does regional talent scaling work? What are the pricing, business models, technology, and language considerations when scaling? Which companies have scaled well regionally? What are the critical mistakes when expanding regionally, and how can they be rectified?

Also read: The Big Leap: Bringing retention best practices across SEA

Such questions are best discussed at the Echelon Asia Summit 2022. Klaus Wehage, Co-Founder and CEO of 10x Innovation Lab, will moderate a panel discussion on “Grab vs Gojek model – How should you scale your startup across the region” with founders Jennifer Zhang (Wiz Holdings), Hendra Kwik (Fazz Financial), Ram N Kumar (NirogStreet), and Vincent Fan (Zeek). 

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Echelon Asia Summit 2022 (October 27-28) returns after a three-year hiatus. It aims to gather the most influential decision-makers and industry leaders from the Southeast Asia tech and startup ecosystem.

 Register for Echelon Asia Summit 2022 now!

The post Grab vs Gojek: Whose strategy should you follow? appeared first on e27.

What will happen to the Southeast Asian (SEA) tech startup ecosystem after the pandemic?

In Singapore, since mid-2022, as borders reopened and travel became possible again, we have begun to see in-person meetings and events being hosted in the country. In the last week of September, there were at least four events in tech space alone –many of them are making a comeback after two years of hiatus. These meetings open up new opportunities for the regional tech startup ecosystem to connect and collaborate for the betterment of both parties and the ecosystem.

At the end of a major crisis like a pandemic, it is predicted that the startup ecosystem will come out stronger than ever. The numbers have spoken; there are indeed companies being set up during the pandemic or raising funds even at the peak of it.

This leads us to the next big question: How do we ensure this is sustainable?

Some of the leading players in the ecosystem may have the answer. They have done more than just raise massive funding rounds in the past years. Many of them have worked with different kinds of partners in growing their businesses; they have also pivoted and experimented with new tech to seize new opportunities.

Also Read: Echelon 2022: The rise of a new startup profitability culture

This might be how sustainability looks like for the startup ecosystem. Gone are the days when it would rely heavily on external funding to get through another day. A truly strong ecosystem is made of companies building solutions to the biggest problems we face today; they have also found a way to support themselves through their various revenue channels.

In achieving their goals, these companies do not work in silos. Instead, they open themselves up to collaborate with different players in the ecosystem, from government agencies to family offices.

These companies consider how their operations impact the environment and society. They are fully aware that a massive profit can never replace the future we owe to the next generation; they are figuring out ways to mark their milestones without sacrificing what is essential.

Beyond the technological innovation we build today, these companies are also looking at up-and-coming innovations. As we transition from Web2 to Web3, we are working to improve how we are doing things –and how the blockchain and related technologies can help in the process.

This is why, for Echelon 2022, e27 has prepared two days of connection, discovery, and learning. As a platform that aims to help companies with the tools to build and grow their businesses, we are going to host a highly curated business event. This year’s event specialises in sustainable growth for the SEA startup ecosystem –especially as we make a move forward.

Join us in this journey to build a more sustainable tech startup ecosystem.

The post Sustainable growth in the SEA startup ecosystem: Why tomorrow starts today appeared first on e27.

Customers are the life-blood of any business. But in a world with millions of alternatives, customer retention may be tricky for most companies.

And companies should care about keeping regular customers around; data shows that increasing customer retention by just 5 per cent can increase profits by 25 to 95 per cent.

Also read: How the future of growth through data-driven decisions would start

Retaining customers is highly rewarding for companies. Customer retention strategies, however, can be very challenging especially in today’s business landscape where companies are faced with rapid technological advancements, evolving customer behaviour, and customer expectations that are becoming more and more personalised.

So let’s dive deeper into building effective customer retention strategies

Echelon 2022 invites industry leaders to join the discussion on the current trends and best practices of customer retention.

We are gathering together Southeast Asia’s industry leaders to talk about their experiences, insights, and tips on creating experiences that connect them better with their customers to share knowledge and technology with their peers.

The aim of this roundtable discussion is to tap on the collective experiences and expertise of the participants and share it with the community for the greater benefit of the SEA tech startup ecosystem. After the event, participant profiles and discussion insights will be published and shared with the e27 community.

Also read: ‘The next generation of unicorns will be from greentech’: Wavemaker Impact’s Steve Melhuish

Participants will get the opportunity to discuss about:

• Context on how they provide the best app experience for their customers, and their current practices in customer retention
• Challenges they face in their company growth
• Omnichannel marketing and the challenges they face in maximising each platform
• Digital footprint of each company and their growth metrics

As industry leaders, participants will also be asked to share best practices and future trends they foresee on user campaigns, customer engagement and customer retention.

This roundtable discussion is co-hosted by e27 and CleverTap

If you’re interested in joining the discussion, let us know.

 

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Image credits: Piero Nigro/Unsplash

The post Keep your customers around with stellar retention strategies appeared first on e27.

Konvy, a beauty e-commerce company based in Thailand, has secured US$10 million in a Series A round of funding from Insignia Ventures Partners.

The company will use the capital to expand its omnichannel and international distribution for health and beauty brands and for hiring.

“With this round of funding, we are aiming to scale up our distribution capabilities to help more local and global brands and solidify our position as the platform of choice for beauty brands in Thailand and Southeast Asia,” said Konvy CEO and Co-Founder QingGui Huang.

Launched in 2012, Konvy carries more than 1,000 global and local beauty brands, ranging from skincare and makeup to perfumes. The products are offered through various channels, including its in-house e-commerce retail platform, marketplaces, and over 800 physical retail stores.

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Konvy’s brand portfolio includes globally recognised brands like L’Oréal, Shiseido, Sulwhasoo, Eucerin, and La Roche-Posay.

Health & beauty is a fast-growing sector in Thailand. Thai consumers purchase products through e-commerce and social media platforms. Within the beauty segment, skincare products have the highest revenue share of 42 per cent.

In 2021, Thai beauty, health, personal and household care was estimated to be US$4 billion and is expected to grow to US$6.4 billion by 2025.

“Over the past few years in Southeast Asia, we have seen the rise of the omnichannel commerce platform, widening the connectivity of brands to end consumers. In Thailand, Konvy has already been leading the health and beauty market with an increasingly multi-channel approach, leveraging both the country’s affinity for beauty products and purchasing behaviour through various online platforms,” said Yinglan Tan, Founding Managing Partner at Insignia Ventures Partners.

Konvy previously raised seed funding from Alpha Founders Capital and ECG Ventures Capital.

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