Used cars platform Moladin closes US$42M Series A round
Lead investors are Northstar Group and Sequoia India; Started in 2017 as a motorcycle platform, Moladin pivoted to a used cars marketplace in mid-2021; It operates as a social commerce firm leveraging agents to sell used cars to end consumers.

WIZ.AI bags US$20M in Hillhouse-led round
K3 Ventures, Insignia Ventures, Wavemaker Partners and GGV Capital also co-invested; WIZ.AI creates chatbots for companies in the healthcare, banking and finance, e-commerce, insurance and telecom industries.

‘Absolute decentralisation is unlikely to be the panacea for everything’: Chris Sirise of Saison Capital
‘The growing traction and real use cases have made it undeniable that Web3 as an industry will grow quickly and become enormous’.

ErudiFi raises US$15M debt funding from Helicap to provide affordable tuition instalment plans to students
ErudiFi helps students secure funding for higher education through partnerships with leading universities and vocational schools; It has facilitated more than US$100M in investments that improve access to financing for underbanked populations in SEA.

Temasek unit Heliconia leads digital container haulage platform Haulio’s US$7M Series A round
Co-investors are Ondine Capital, Cornerstone Ventures, FuturePlay, Newtown Partners, and XA Network; Haulio boasts of having onboarded 90% of Singapore’s hauliers and established presences in Indonesia and Thailand, where it has aggregated 3K+ hauliers.

Fintech startup Fraction bags US$3M to turn real estate into fractional NFTs
Investors are East Ventures, Emtek, Thakral, and V Ventures; Fraction allows individuals and companies to invest, sell and manage fractional ownership of anything, from a small stake in a city condominium to managing a private fund, assets and investors.

Xendit ventures in banking space, partners with rural lender BPR Xen
The unicorn has initiated hiring for roles from bank tellers to middle-management level employees for the rural lender; Xendit achieved unicorn status in September 2020 following a US$150M Series C funding led by Tiger Global.

M&A roundup: boAt buys SG startup KaHa, DeClout acquires Ascent Solutions
Ascent Solutions is an IoT smart connectivity firm that provides digital solutions for smart city infrastructure; DeClout invests in, incubates and scales companies to become global or regional market leaders.

Japan’s soccer star Keisuke Honda launches AngelList-like platform for Asia’s startup community
PROTOCOL leverages technology to ease burdens on founders and investors while also boosting the ecosystem as a whole; The platform will be available for people seeking jobs in startups, planning to start a business or investing.

MAS stops crypto platforms from advertising in public
Cryptocurrency firms cannot market their services on public transport, public transport venues, public websites, social media platforms, broadcast and print media, or on physical ATMs; They are also barred from promoting their products via social media influencers and other third-party marketing services.

TW
Fashion resale startup bags US$2.2M in AppWorks-led round
Co-investors are CTBC Venture Capital, B Current Impact Investment, and Taiwan Culture and Creative Angels Investment; PopChill aims to create a sustainable community marketplace enabling users to buy and sell second-hand fashion and apparel.

Taiwan
500 Global joins US$1.7m round of customer service startup Viewabo
Viewabo uses its tech to allow companies to provide customer support services through video and live streaming; Agents can add notes, pause, rotate the stream as per convenience, or save the stream for later review and training.

Why Vietnam is a ripe market for new-age banking
More than 40 per cent of the population in Vietnam is banked and bank cards are seeing accelerating penetration. But there is no dominant winner yet; Vietnam ranks second in the world with 69% of people not having access to financial services and no bank accounts.

Carousell takes on Google, FB with launch of ad platform
Known as Connect, the platform is a recommerce programmatic buying tool that uses demand side-platforms powered by data from transactions and searches on Carousell’s platforms; The new tool provides a full-funnel solution.

Antler India names the 19 students in its new fellowship
The Antler India Fellowship aims to promote entrepreneurship at the university level as a possible career option for students; It offers an equity-free grant of US$20K, mentorship services, and a peer network to turn the startup ideas of students into businesses.

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Mio co-founders

Vietnamese social commerce platform Mio has received a US$8 million Series A round of investment, led by Jungle Ventures.

New investor Patamar Capital, angel investor Oliver Jung, existing backers GGV Capital, Venturra, Hustle Fund, iSEED SEA and Gokul Rajaram also co-invested.

This brings Mio’s total capital raised to date to US$9.1 million.

Mio will use the fresh funds to expand its fulfilment centre footprint, improve its logistics and supply chain capabilities, and expand into new geographies in Vietnam.

Founded in June 2020 by serial entrepreneurs Trung Huynh, An Pham, Long Pham and Tu Le, Mio is a group buying platform for grocery and fresh produce. Every day, Mio fulfils 10,000 daily orders to tens of thousands of households in Ho Chi Minh city and its surrounding lower-tier cities via its agent network. It delivers fresh produce orders directly from the farm to the table in less than 16 hours.

The company currently focuses on grocery staples, including fresh produce and poultry. It plans to add FMCG (fast-moving consumer goods) and household appliances. In the future, the company will be investing in new fulfilment centres and supply chain initiatives to reduce delivery time further, lower costs and expand its services to more towns.

Also Read: Quadria Capital injects US$90M into Con Cung to build super app for Vietnamese mothers

The startup said in a press note that it aims to drive financial independence for millions of Vietnamese women by democratising entrepreneurship opportunities through its Mio Partner model. Many of these partners are women, who act as resellers who acquire orders from their immediate social circle of friends and family, aggregate, place and manage orders through the Mio app. In return, the partners can make up to US$400, earning a 10 per cent commission on each order and additional commissions based on the monthly performance of resellers they referred to the platform.

The company claims it has witnessed tremendous success in the last 12 months, with its GMV growing by over 50x, fulfilling over 10,000 fresh produce products every day.

Today, Mio is present across Ho Chi Minh, Binh Duong, Dong Nai, Long An and will be expanding to the northern region of Vietnam in the coming months.

Co-Founder Trung Huynh said: “Mio aims to create a virtuous ecosystem of growth for our Mio Partners and consumers. We have created thousands of jobs for women in suburban districts and lower-tier cities of Vietnam. As we scale, we will continue to drive financial independence among more women in Vietnam, expand our services to more markets, and serve our consumers with better products and service.”

My Tran, VP (Investments) at Jungle Ventures, said: “With the rising internet penetration, we are very bullish on social commerce as it will be the next driver of growth for tier 2 and 3 towns in the region, racing ahead of traditional commerce models, as consumers demand at par choice, experience and service. Mio is an innovative business with terrific growth potential addressing the US$50 billion grocery opportunity in Vietnam.”

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Image Credit: Mio

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Growing up in modern society, I am sure that most of us have heard of the Industrial Revolution and the drastic effect it has had on society. It’s now 2022 and the Fourth Industrial Revolution has now fully descended upon us, promising even greater changes that nobody can accurately predict.

Instead of trying to predict the future or being afraid of the unknown, I would like to explore the idea of the Fourth Industrial Revolution, also aptly called Automation 4.0, through the lens of opportunity.

Automation 4.0 is characterised by the integration of human and machine processes (WEF) also known as cyber-physical systems. To put it simply, it defines the trend of integrating technologies such as the IoT and cloud computing with existing manufacturing practices and technologies to ultimately create a smart factory.

An example of such a solution would be robotic arms equipped with computer vision capabilities, to streamline and increase effectiveness across manufacturing lines today.

Recent trends

Over 80 per cent of consumers are more inclined to purchase from a brand that provides personalised services. This has led to an increasing need for businesses to focus on customer-centricity to gain a competitive edge with a similar trend existing in the manufacturing sector.

Products and services are evolving to become highly personalised to suit the customer’s needs. While having such a business model might have robust financial appeal, it generates inefficiencies and thus opportunities throughout the manufacturing value chain.

Also Read: How automation and innovation will boost SME success in Singapore

Despite the need for skilled labour increases due to the added complexity of tasks, the labour market is not cooperating. The labour market is experiencing a ‘blue-collar drought’, with 77 per cent of manufacturers expressing difficulties in attracting and retaining workers.

Due to the perceived negative image of manufacturing jobs as being outdated, fewer people are pursuing an education and eventually a career in manufacturing. Worsening labour shortages are pushing manufacturing companies to hasten their modernisation process and invest in automation.

In a recent article by Kearney, industrial automation is predicted to receive explosive growth and potentially become a US$250 billion market by 2035. One of the main contributing factors for this prediction is the hunger for manufacturers to improve productivity to tackle the evolving consumer landscape.

Challenges and opportunities with industrial automation

From the development of a product to the distribution of orders, every single intermediate stage presents a plethora of opportunities that can be seized and exploited. Here are some of the challenges that have been identified in the manufacturing sector:

Smart production

With the advent of hyper-personalisation, companies are facing problems in manufacturing as the requirements from customers are varied and highly customised.

There is an increased need for manufacturers to be flexible and agile due to the ever-changing client’s needs. However, the current approach to the planning and development of the production lines runs contrary to this notion.

The main culprit is the inability to reuse and integrate components of the production line efficiently. Without a standardised automation system that guides the design and planning phase of a production line, components are simply designed to be dedicated to a singular project.

Currently, traditional manufacturing follows a linear approach with most production lines dedicated to a singular project. When a project is completed or there are changes in a client’s request, all the components in the entire production line become obsolete. This results in the wastage of both time and resources.

Also Read: Automation should eat your company with Frank Oelschlager

This presents an opportunity that is ripe for startups to leverage. An example of such a startup would be Arculus, a German startup, that has developed a “modular production platform” in response to the inefficiencies caused by traditional linear manufacturing.

Arculus integrates both hardware and software to design modules where individual tasks can be performed. These modules can be assembled dynamically based on the customers’ requirements.

This increased flexibility reduces cost and improves productivity. In 2020, Arculus raised over US$17 million in Series A investment, reflecting an increased interest in the technological shift from linear manufacturing to bespoke manufacturing.

Smart inspection

Further down the production line, the lack of an automated inspection system for precision engineered components is becoming a critical problem. This has been exacerbated by an increase in the complexity and variety of components required, the personification of hyper-personalisation.

Traditionally, the inspection process typically relies on engineers with the right know-how to visually inspect components piece by piece. As the volume and diversity of components increases, the cost of labour as well as the number of errors skyrockets.

With quality-related costs consuming up to 15-20 per cent of sales revenue, it is of paramount importance for manufacturing companies to optimise the process of inspection.

By leveraging current technologies, manufacturers can effectively guarantee the quality of each component while minimizing waste and recall.

This has led to the rise of several start-ups that have deployed visual inspection systems, powered by artificial intelligence, to great success. Elementary, a robotics and machine vision company has recently generated major buzz after they raised US$30 million in Series B funding.

Also Read: Singaporeans not worried about AI, automation taking over their jobs: Survey

The company has embraced the idea of a cyber-physical system by having a human-centred design when developing its robotic systems. Through their plug-and-play system, they promise to increase productivity and detection capabilities while being easily deployable. This focus has allowed them to rapidly grow their customer base.

However, the idea of smart inspection still contains multiple untapped gold mines. One possible avenue for exploration would be to integrate hardware and software to create a 360-degree camera rig that can achieve a full rotational analysis. Most camera systems in the market are only capable of capturing images of the top and bottom components. By capturing the full 3D dimensions of components, it allows for a more holistic and comprehensive visual inspection software. Several companies like Kennametal have indicated a strong interest in integrating such technologies in their current manufacturing workflow.

Smart packaging

With the growing shift from on-time, in-full delivery to now delivery, there is a need for manufacturers to optimize their supply chain using data-driven analytics to keep up with the increased demand. One often overlooked stage in this whole process is the packaging stage.

At its crux, packaging not only serves to protect the product but is the first point of contact that a consumer will have with the product. This makes a crucial component of customer acquisition and branding.

However, current approaches to packaging do not reflect this importance. To reduce costs, most of the packaging work is still done manually today. This approach is incredibly time-consuming and laborious while resulting in a high margin of error. Moreover, with a short turnover time crunch, workplace safety is not a priority in warehouses.

With the increased demand for hyper customization from not only end customers but also distributors and wholesalers, companies are struggling to deal with the large quantities of SKUs (Stock-Keeping Units) alongside the multiple packaging permutations and considerations.

This has resulted in low throughput rates and an even greater margin of error. To address these inefficiencies, manufacturers are looking towards using automation to streamline their packing process.

With over 60 per cent of supply chain organisations looking to leverage new technologies to improve operational efficiency, the door of opportunity is wide open for startups to seize.

Also Read: Customer service: is it still relevant in the age of automation?

The US-based SourceHUB provides a software solution that tackles the inefficiencies created by the myriad of stakeholders involved during the packaging process. It uses an AI-powered packaging management system that centralises information regarding different product SKUs. This allows them to improve packaging efficiency and reduce mistakes. 

Opportunities galore

With the advent of each industrial revolution, new technologies introduced often completely shatter our previous notion of what is possible and impossible. We are now able to deal with inefficiencies and problems that were previously thought to be too costly or simply not feasible to solve.

As more manufacturers are looking to incorporate Automation 4.0 in their workflow, greater interest and attention will be placed on startups that are ready to tackle their existing problems.

With more interest and thus funding in the ecosystem, start-ups will be empowered to develop revolutionary ideas to endemic problems in the manufacturing space.

So why wait? I believe that there are countless opportunities for both software and hardware solutions simply waiting out there to be seized. It is my firm belief that industrial automation is fertile ground for startups to become the next unicorn. 

If you are a startup looking to take up this challenge, join us at the A*STAR Advanced Manufacturing Startup Challenge 2022, where you will have the opportunity to co-develop and partner with global corporations to leverage this industry trend.

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Infinity Force, a management system serving the play-to-earn (P2E) ecosystem, has received US$5.5 million in seed funding led by Animoca Brands.

Other participating investors include JUMP Capital, Sky Vision Capital, OKex Blockdream Ventures, MEXC, GSR, Double Peak Group, Tokenbay, and DWeb3.

Also Read: Animoca Brands attracts US$360M to grow open metaverse, make strategic acquisitions and investments

The company will use the new funding to scale its functionality to facilitate onboarding games, guilds and players and transition into Infinity Force DAO, a decentralised autonomous organisation.

The investment will also allow Infinity Force to scale its team and further invest in NFT assets for its internal players and guilds to use.

Infinity Force allows users to create, grow and manage their own guild through its integrated platform. Its product provides end-to-end SaaS encompassing guild creation, NFT asset lending, player recruitment and training, performance management, payment automation, and data analytics.

The startup likens itself to the “play-to-earn Salesforce,” which aims to streamline the creation and operation of guilds to make them more accessible to the public.

Infinity Force has a community by managing its own guild of over 1,200 members in the Philippines, Indonesia and Venezuela. In addition, through its partnerships with various game studios, Infinity Force will soon offer a wide array of P2E games on its platform, allowing gamers and NFT investors to be connected and capitalise on the expanding ecosystem.

Currently, Infinity Force supports Axie Infinity and plans to add more games into its ecosystem in 2022.

Animoca Brands is a gamification and blockchain leader with more than 150 investments in NFT-related companies and decentralised projects. On Wednesday, Animoca Brands announced the completion of a US$359M funding round led by Liberty City Ventures at a pre-money valuation of US$5 billion. Its other investments include OpenSea, Dapper Labs, Yield Guild Games, Star Atlas, Axie Infinity, and Thetan Arena.

Also Read: Animoca Brands invests in Fantico, a startup creating its own metaverse

Yat Siu, Executive Chairman and Co-Founder of Animoca Brands, said: “The team at Infinity Force is breaking down the barriers of entry for P2E while empowering communities across the globe with the tools and resources to systemise player onboarding, performance, and scalability. We are proud to lead the investment and to support Infinity Force’s vision to make the open metaverse more accessible.”

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Image Credit: Infinity Force

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Cryptocurrencies have become far more accessible in 2022. There are over 300 million crypto users now, and the number is growing day by day. As a result, a variety of apps are being introduced to make digital assets easier to use.

Many users take advantage of mobile crypto wallets to protect their funds, manage their portfolios and observe market movements. But there is so much more to what crypto apps are capable of. For example, crypto savings apps allow you to earn passive income.

With this in mind, we compared four popular crypto earning apps: YIELD App, SwissBorg, NEXO, and Celsius. Each one offers specific features that are best suited for different needs.

YIELD App

YIELD App is a digital wealth management platform where crypto investors and users can earn on their crypto. It allows users to earn up to 18 per cent Annual Percentage Yield (APY) on popular assets and stablecoins including USDT, USDC, ETH, and BTC.

The app uses its automated and proprietary portfolio allocations tools, research, and wealth management techniques to generate high returns. In a nutshell, YIELD App offers a simple gateway for BTC, ETH and stablecoin holders to earn the highest yields offered by a crypto savings app.

YIELD App can be particularly useful for those who seek simplicity and high earnings under one app. Like other apps, the auto-compounding feature helps interest earnings to stack up automatically. Crypto is volatile by nature. For those who prefer stability, the app offers one of the highest APYs for stablecoins.

Also Read: Demystifying NFTs and DeFi

SwissBorg

SwissBorg is a crypto investment platform that supports nine cryptocurrencies, each with varying yields. The platform’s Smart Yield feature balances optimal risk, return and user experience all in one place.

SwissBorg offers two types of accounts: Standard and Premium. Standard accounts can earn up to 12 per cent APY, while Premium accounts can further maximise the rate. The APYs change more frequently compared to other apps, requiring active attention to understand the most updated rates. This app caters more to advanced users who have sufficient knowledge of the inner workings of crypto.

To activate a Premium account, users must obtain 50,000 CHSB and stake for 12 months. During this period, the tokens are locked meaning that users won’t be able to withdraw or exchange them. Compared to other apps, users should take note of the relatively high requirement to unlock the APY boost, which can be beneficial depending on other specific factors.

NEXO

NEXO is a cryptocurrency interest account and lending platform. The app offers up to 17 per cent APY for a wide range of digital assets, including BTC, ETH, LTC, BCH, EOS, XLM, TRX, and XRP. A key differentiator is that the app pays out interest every day, as opposed to weekly on other apps.

Once you set up and deposit funds, the app will automatically calculate your interest earned daily and deposit it directly into your account. Then, all you have to do is sit back and relax. Similar to SwissBorg, accounts in the platform are divided by tiers. However, the level of your tier depends on the ratio of NEXO against the balance of other assets in your portfolio. Users need to make sure their current ratio qualifies for their desired earning rates.

You can also choose to receive interest in-kind or in NEXO. Earning in-kind means that you will receive the earnings in the same asset that you deposited with. Earning in NEXO means you will receive the equivalent value of your earnings in the app’s native token.

Also Read: You’re not really diversifying your investments by buying altcoins

Celsius

Celcius is a crypto wealth management app that allows users to earn interest from their digital assets. The platform supports more than 30 cryptocurrencies, including BTC, ETH, UNI, LINK, USDT, USDC and many more. Celsius offers one of the most flexible options for altcoin holders.

Rewards are calculated every Friday. On Mondays, you’ll get your interest automatically into your wallet. If you choose to get your reward in CEL (Celcius’s native token), your weekly payout can go up to 25 per cent more.

On top of the large number of assets available to deposit, the platform does not charge any withdrawal fees. This is ideal for users who frequently withdraw their assets or earnings. The app offers more options for those who hold many types of assets under their belt.

The future of passive earnings

As the digital asset space is rapidly growing, investing in cryptocurrency has never been easier. Crypto earning apps are at the forefront of revolutionising the standards of passive income. Now, even those with little technical knowledge can make passive crypto earnings a reality –-a classic example of making your money work for you.

Note: None of the contents above is financial advice

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The content was first published on The Human & Machine.

Image Credit: The Human & Machine.

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Singapore-based True Global Ventures 4 Plus (TGV4 Plus) has invested US$3 million in Enjinstarter, an IDO (Initial DEX Offering) launchpad for metaverse and blockchain gaming projects.

The Singapore-based startup will utilise the money to expand its operations and foray into other complementary business verticals, including metaverse innovation, game publishing and venture building.

Launched in early October 2021, Enjinstarter has helped more than 30 projects launch. Some notable projects that Enjinstarter has supported include Defina, The Killbox and PathDao, some of which have delivered 24-53x to investors from their public IDO price.

Also Read: “We want to facilitate organisations’ Web3 transition from bits to atoms”: Brinc CEO Manav Gupta

Besides issuing tokens, Enjinstarter also helps game developers offer innovative ways to raise capital and fund their projects by selling virtual items such as NFTs. The platform also offers an incubation programme supported by an accredited partner network to provide projects with end-to-end support for developing sustainable strategies and launching successful campaigns.

True Global Ventures’ investment will help Enjinstarter build a stronger ecosystem offering through an integrated portfolio approach with the support of some of TGV’s partners and portfolio companies.

True Global Ventures is globally reputed for being the backers of Animoca and Sandbox, which has earned them a reputation for being a leading web3 investor and innovator.

“We are at the start of what I believe is the tipping point where Metaverses, Play-to-earn and GameFi go mainstream, which is to have traditional fun gaming experiences plus the concepts of Finance & Fintech blended into a singular user experience. I believe that Enjinstarter is the right place and the right time to help companies who would like to build up their resources and communities as quickly as possible so that they can get to the right market quickly,” added Kelly Choo, Partner of TGV4 Plus.

True Global Ventures 4 Plus invests in serial entrepreneurs in over 20 cities. The company is a distributed fund in cities like Singapore, Hong Kong, Taipei, Dubai, Abu Dhabi, Moscow, Stockholm, Paris, Madrid, Warsaw, New York, San Francisco, and Vancouver.

Also Read: Next blockchain unicorn will be from gaming: Dusan Stojanovic of True Global Ventures

Last November, True Global Ventures invested US$10 million in The Sandbox, an open NFT metaverse platform and a unit of Animoca Brands.

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US Airways, W.T. Grant, and Blockbuster are three companies from different eras and industries but they have one common link: all three failed and were eventually shut down due to poor customer service.

• Before US Airways was purchased by America West in 2005, the airline slashed its customer service budget resulting in the mishandling of numerous complaints, angering customers to the point that the company eventually filed for bankruptcy.
• T. Grant was an American retail institution for 70 years until 1976 when the company filed bankruptcy; at the time, the W.T. Grant bankruptcy was the second-largest in U.S. history. During the 1960s and 70s, the company ignored that middle-class Americans were moving to the suburbs, failed to adapt, effectively telling customers they were wrong and was eventually shut down.
• Blockbuster, a once-dominant video rental chain shut down half of its stores and was auctioned off to the Dish Network in bankruptcy primarily because they charged outrageous sums for late fees and cared little for what their customers wanted.

The key lesson here is that customer service and engagement are the fundamental units of any business across all industries at all times. A growing, engaged and happy consumer base is the ultimate requirement for any business to survive, scale and grow.

Using AI to help businesses with customer engagement

Today, in the digital decade, there is no dearth of brands. With SMEs, startups and enterprises sprouting like mushrooms across the world, customers have numerous choices. Therefore, engagement becomes even more important. Gartner research backs this theory and suggests that a marketing engagement strategy should heavily consider what existing and potential customers need throughout their purchase journey. This is where Tokyo-based RevComm is helping businesses. Founded in July 2017, RevComm focuses on issues in phone sales and customer support as well as success. RevComm’s MiiTel, a cloud IP-phone, which is powered by a conversation intelligence platform helps increase sales conversion and customer satisfaction rates while decreasing education & communication costs.

Also read: Can agritech solve the world’s growing food security problem?

“MiiTel enables companies to solve the so-called “black box” problems in sales and customer success by recording, transcribing, analysing talk and listen ratio, interruption, talk speed, call transcriptions, etc. and visualising “what” and “how” sales and customer success staff are talking with customers. At the same time, staff can self-coach and improve their sales/support skills by themselves based on these quantitative ratings, leading to higher closing rates,” shared Yuiichiro Sasaki from RevComm’s global division.

Next stop: Southeast Asia

The sales and customer support staff play very important roles in the success of any business. They lead sales by understanding customers’ pain points, answering questions, handling objections and challenges. However, despite the vitality of their roles, there is still no way to determine the reason behind the variation in their performance. This is because conversations between sales and/or customer success staff and customers are in so-called “black boxes” meaning there is no record of their interactions on the phone or in online meetings, and therefore no way to evaluate them. MiiTel helps managers to understand situations in sales and customer success solving “black box” problems, leading to an increase in sales.

They have managed to build a strong presence in Japan since their launch in 2017. RevComm has acquired more than 27,500 paid users in a short span of three years. Today, approximately 80 million sales calls are made via MiiTel in Japan. They have customers in a wide range of sectors, including banking, IT, tech startups and large corporations.

Also read: AMATELUS is ready to launch multi-angle video streaming technology in Southeast Asia

This challenge is extremely relevant in Southeast Asia where human resource is arguably one of the biggest problems. MiiTel enables sales and customer success staff to improve their communication skills by providing them insights based on data. This also helps reduce training costs. As such, RevComm is now looking to expand and establish a presence in Southeast Asia through Japan External Trade Organisation (JETRO) with a keen focus on Indonesia, and other countries in that region

“We believe our contribution to self-coaching and reducing education costs is very valuable for corporate management in Southeast Asia,” said Yuiichiro.

Find out more about RevComm here: https://miitel.revcomm.co.jp

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

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Brinc CEO Manav Gupta (L) and Animoca Brands Founder Yat Siu

Animoca Brands attracts US$360M to grow open metaverse, make strategic acquisitions and investments
Investors include Liberty City Ventures, 10T Holdings, C Ventures, Delta Fund, and Gemini Frontier Fund; Animoca’s products include games ranging from hyper-casual to hardcore and collectibles, utility tokens, and e-sports titles.

“We want to facilitate organisations’ Web3 transition from bits to atoms”: Brinc CEO Manav Gupta
Brinc CEO believes under all the hype, Web3 will be a secular shift in how people come together to create enterprises and solve problems; The Hong Kong-based accelerator recently raised US$130M led by Animoca Brands.

Quadria Capital injects US$90M into Con Cung to build super app for Vietnamese mothers
Con Cung’s offerings include over 2K SKUs of products such as milk powder, diapers, bottled nutrition and vitamins, equipment, and baby fashion; It operates 600 stores in 45 provinces and towns and plans to expand to 1,000 stores by the end of 2022.

Lummo (formerly Bukukas) raises US$80M, to foray into other SEA markets
Investors include Tiger Global, Sequoia India, and CapitalG; Lummo was started as a bookkeeping app for MSMEs; While it currently operates in the social commerce space, it is eyeing more markets such as Vietnam, Thailand and the Philippines.

BurdaPrincipal leads Filipino BNPL platform BillEase’s US$11M Series B round
Other backers are Centauri, 33 Capital, and Tamaz Georgadze; BillEase app also offers personal loans, e-wallet top-ups and popular wallets like GCash, PayMaya, Coins.ph, GrabPay, and ShopeePay.

Vietnam’s games publisher Funtap launches US$10M blockchain fund
Funverse Capital will back startups working on blockchain-enabled apps in GameFi, DeFi (decentralised finance) and other potential projects; It will write a cheque of up to US$1M while also providing mentorship and accelerator programmes.

Mio banks US$8M Series A to empower Vietnamese women via its social commerce platform for fresh produce
Investors include Jungle Ventures, Patamar Capital, GGV Capital, Venturra, and Hustle Fund; Mio fulfils 10K daily orders to tens of thousands of households via its agent network and delivers directly from the farm to the table in less than 16 hours.

B2B e-commerce startup Dropee scores US$7M Series A
Investors include Vynn Capital, HCL Capital, Resolution Ventures, and LKF Capital; Dropee connects suppliers with SMEs in real-time; It leverages AI and predictive analysis to forecast which products will be on demand at local retailers.

Infinity Force scores US$5.5M seed funding led by Animoca to provide infra for global P2E communities
Other investors include JUMP Capital, Sky Vision Capital, OKex Blockdream Ventures, and MEXC; Infinity Force provides end-to-end SaaS encompassing guild creation, NFT asset lending, player recruitment and training, performance management, payment automation, and data analytics.

HERE Technologies leads UNL’s US$4.5M funding to ‘pixelise’ the physical world
UNL offers a library of plug-and-play geospatial solutions that help businesses in e-commerce to last-mile and smart city space; HERE is a location platform for navigation and mapping owned by the consortium of German carmakers Audi, BMW and Daimler.

Sky Mavis co-founder backs Ancient8’s US$4M seed round to democratise access to metaverse
Co-investors include Dragonfly Capital, Pantera Capital, Hashed, Animoca Brands, and Sipher; Ancient8 is building a DAO that develops a community and software platform to enable everyone to play and build the metaverse while earning rewards.

Funding roundup: StaffAny raises US$3.4M in Series A, MyRobin.ID closes pre-series A
StaffAny is a workforce management solution that connects HR and operations within organisations, whereas MyRobin provides on-demand, pre-screened, blue-collar workers in Indonesia.

BRI Ventures, Tokocrypto launch first blockchain accelerator
The Tokocrypto Sembrani Blockchain Accelerator targets post-seed startups working on blockchain and tokenisation technology; Potential participants should be involved in fields like centralised or decentralised finance, impact projects, P2E systems, or NFTs.

True Global Ventures pours US$3M into IDO launchpad Enjinstarter
Enjinstarter is a blockchain gaming, metaverse, and entertainment-focused launchpad for IDOs and initial NFT offerings; It supports creators and game developers by enabling them to build and develop their blockchain and digital asset strategies.

Vietnam’s EV startup Selex Motors banks US$2.1M to ramp up in-house vehicle production
Investors include Touchstone Partners, ADB Ventures, and Nextrans. Selex Motors owns patented technologies to develop and manufacture smart electric motorcycles, battery packs and battery swapping systems.

East Ventures leads seed round of Indonesian mental health app Riliv
Benson Capital, Sankalpa Ventures, and Teja Ventures also participated; Riliv has developed an app that offers online counseling and meditation services for people dealing with mental health issues.

Malaysia’s content aggregator Newswav scores US$1.43M led by OSK Ventures
Newswav provides content in three different languages (English, Malay, Chinese) and three different formats (articles, videos, podcasts); The portal aggregates about 200 publications and content creators, including The Sun Daily, SCMP, and Malay Mail.

Oxford, Cambridge graduates’ startup GuruLab raises US$1M to pair qualified tutors with learning analytics
Singapore-based Wright Partners and other VCs invested; GuruLab aims to give each student the tailored help to improve their grades through a data-driven approach.

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Tokocrypto CEO Pang Xue Kai and BRI Ventures CEO Nicko Widjaja signed the MOU at T-Hub Batubelig, Bali

Following up on the launch of TokoLaunchpad Version 2.0 in 2021, Indonesia-based Tokocrypto collaborated with BRI Ventures –through its Sembrani Wira Akselerator initiative– to launch Tokocrypto Sembrani Blockchain Accelerator (TSBA). This programme is meant to empower blockchain and tokenisation projects in the country.

Tokocrypto CEO Pang Xue Kai named the collaboration a milestone for the company as it successfully gained the trust of a CVC under a leading state-owned bank in Indonesia. He hopes that this accelerator programme can help develop the ecosystem and create a positive impact on the Indonesian blockchain and startup ecosystem.

“We hope that this collaboration will accelerate the development of Web3 initiative and the growth of metaverse ecosystem, especially since we already have two growing venture capital funds: Sembrani Nusantara and Sembrani Kiqani which focuses on investments in non-fintech sectors,” BRI Ventures CEO Nicko Widjaja in an official statement.

The accelerator and its criteria

Through TSBA, the two companies intended to form an accelerator programme that provides an extensive module specially designed to launch blockchain projects and startups to the global stage. This programme includes the various aspects of developing the blockchain technology itself, the economic values or tokenomics, team culture formation, mentorship/guidance for listing and fundraising.

The programme requires participating startups to have secured at least an early stage funding. The company is also required to develop its own blockchain technology or have a working product or a white paper.

Also Read: Demystifying NFTs and DeFi

Markus Liman Rahardja, VP of Investment dan Business Development at BRI Ventures, who was also present during the MOU signing in Bali on January 20, highlighted the two aspects of fundraising that will be the focus of BRI Ventures: crypto and venture fundraising.

The VC firm itself has invested in more than 18 fintech and non-fintech startups and launched two venture funds that included the participation of Grab Ventures, Celebes Capital, Mahanusa Capital, Buana Investment, Pulau Intan, and several family offices.

The Sembrani Nusantara fund, which was launched in early 2021, had invested in several agritech startups such as Sayurbox, new retail sectors such as Haus!, Brodo, Yummy Corp, and logistics sector such as Andalin. The Sembrani Kiqani fund, which was launched in early 2022, is focussing on D2C and metaverse.

Providing a hub for crypto enthusiasts

In 2021, Tokocrypto launched several initiatives to develop the crypto asset ecosystem in Indonesia. Starting from launching its own token TKO in April, NFT marketplace TokoMall in August, to supporting the Bekind movement in developing various CSR programmes through TokoCare.

With the launch of TSBA, Tokocrypto officially introduced T-Hub in Batubelig, Bali, as an educational and social platform to develop the crypto ecosystem in Bali. The startup has previously launched a similar concept in Senayan, Jakarta.

As a legitimate crypto asset marketplace, Tokocrypto believed in its obligation to facilitate any activities that can potentially develop the crypto asset community. “One of the ways for blockchain and crypto assets to grow in the industry is through bridging connections. This is why Tokocrypto aims to facilitate the growth of crypto assets amidst the traditional finance system,” Kai said.

Also Read: We want to facilitate organisations’ Web3 transition from bits to atoms: Brinc CEO Manav Gupta

Outside of TSBA, there are already several startups or projects that are participating in TokoLaunchpad. Some of it included Play it Forward DAO, Avarik Saga and Nanovest. Kai also named more than 15 startups and projects that are currently in talks to join the initiative.

The registration for the TSBA accelerator will be closed on February 10 with shortlisted participants to be announced on February 14. The programme itself will kickstart on February 21.

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The article was written in Bahasa Indonesia by Kristin Siagian for DailySocial. English translation and editing by e27.

Image Credit: DailySocial

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As COVID-19 has forced the world to slow down, it has pushed the fashion industry into a new and confronting reality. With retail shops forced to close, cancelled orders up to and down the supply chain and a decreased consumer appetite for shopping, the fashion industry has had to take stock.

Its ethical and sustainability issues have been more exposed than ever alongside a consumer awakening that the traditional linear model of “take-make-waste” is no longer feasible. 

The need for fashion to become more circular has never been more apparent. According to the Global Fashion Agenda and Boston Consulting Group,  an estimated 92 million tons of textile waste is created annually from the fashion industry and is estimated to increase by about 60 per cent between 2015 and 2030.

By 2030, the anticipated total fashion waste is 148 million tons, that’s equivalent to 17.5kg of fashion waste for each person globally.

The emergence of resale platforms has greatly improved the lifespan of products and helped to derive considerably more value from produced goods, however, for true circularity to be achieved it needs to start with the design phase. 

Over 70 per cent of environmental impact occurs at the design stage of a product meaning waste and pollution are the results of design flaws. Choosing and sourcing the right materials for production is the first step when designing for sustainability.

The rise of fast fashion has led to the increased adoption of synthetic materials as they are cheap to produce and durable. However, these materials are produced from fossil fuels and are currently unrecyclable.

Worse still when these fabrics are blended with another fibre making it incredibly hard to separate again into recyclable materials although extensive research and practice by the Hong Kong Research Institute for Textile & Apparel are easing this process.

Also Read: How consumers are prioritising sustainability beyond the single lens of eco-friendly products

A common misconception about recycled polyester is that it comes from preloved polyester clothing, however, it is made from plastic bottles and can in fact be detrimental to the circular economy as it impedes the ability for old plastic bottles to be recycled into new ones. 

Design with end in mind

Product designers need to research and select the best natural fibres for their products. Its carbon output and recyclability need to be as important as its form and function. Determining the carbon output of each material can be difficult as, for example, cotton is grown differently across the world due to different conditions and climates.

However, there are a number of platforms, such as the Higg Index which was created by the Sustainable Apparel Coalition, that is trying to improve transparency and credibility to carbon emission figures. A longer-term sustainable solution needs to be found to replace fashion’s dependency on these cheap to produce fibres.

Innovative companies, such as Pangaia, have developed brand new fabrics with the same qualities of synthetic fibres but made out of natural ingredients such as eucalyptus and seaweed. These promising developments however have yet to scale.

Product designers also need to design with their end of life in mind. How can the product’s lifespan be maximized? After its first owners, can it be reused? Or perhaps recycled or upcycled? Encouragingly we have seen a huge rise in afterlife repair services.

Luxury brands, such as Hermes and Brunello Cucinelli, have been going back to their traditional values and offering customers repair and restoration services. Patagonia, a leader in sustainable fashion, has the largest repair facility in North America completing 50,000 repairs a year, and actively encourages customers to avoid buying new when they can just be fixed. 

Digitalisation and resale

Advancements in technology and blockchain are another key component to building a circular fashion ecosystem. Blockchain allows brands to assign a unique code to products at the start of production.

This code is time-stamped, secure, and trackable allowing for the whole product’s supply chain to be recorded from the sourcing, the materials and dyes used, the fabrics, right up to when the product hits the shelf, and then beyond.

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

Such transparency and traceability will force brands to take greater accountability over their design and production.

Once a product sells, the technology doesn’t stop there. Digital authentication platforms will drive resale onto an even greater scale. A product’s unique code will guarantee authentication as consumers will be able to track its production from the start. It will also propel circularity as a product’s ownership will be able to be tracked as it is passed on from one owner to the next.

Pricing will be made more efficient as its original RRP and history will be recorded and resale platforms will generally be able to benefit from improved database management and customer engagement. So revolutionary is this technology that rival fashion houses LVMH, Prada Group, and Richemont decided to come together and launch the Aura Blockchain Consortium.

The single blockchain solution allows consumers to trace and verify a product’s historical data, proof of ownership, warranty, and maintenance service record leaving them with an exclusive product certificate.

Resale is a crucial part of facilitating the extension of a product’s lifespan and dramatically reducing carbon emissions. If everyone bought 1 used item instead of a new one, we would save nearly six billion lbs of CO2e4.

Since our founding in 2016, Retykle has recirculated more than 150,000 items of clothing to date, saving 407,100 lb of carbon and 313 million litres of water!

Brands have a huge opportunity to incorporate resale into their customer offering. By partnering with resale platforms, it provides them with greater control over how their goods are represented on the secondhand market and can also improve customer loyalty and desirability. 

The last part of sustainable design is end-of-life reinvention. Rather than ending up in landfills, can products be broken down into their individual materials and reconstructed with other recycled waste into something brand new again?

Regeneration is a key component to refuelling our nature’s ecosystem and not continually draining resources.

If all our waste can be repurposed then demand for virgin materials will be greatly reduced. Designing with the end in mind is the way forward for an industry in peril. 

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