Auspac Investment Management, an investment vehicle of Australia’s Auspac Financial Advisory, has launched its first fund focusing on Series A-stage startups in Southeast Asia.

The Singapore-based investment vehicle targets to raise US$50 million over the next 18 months from wealthy individuals, corporates and family offices after closing the first tranche of US$5 million from its Australian parent in September.

The vehicle recently joined the US$6 million Series A round of Malaysian insurtech startup PolicyStreet and plans to deploy its new capital in two to three more in the next four months in tandem with Auspac’s fundraising process. 

Allen Cheong, co-founder and CEO of Auspac Investment Management, told e27 that it would adopt the “1,2,3,4,5” investment approach. In this model, ‘1’ refers to the Southeast Asia region; ‘2’ means megatrends of digital transformation and adoption; ‘3’ means three sectors (healthtech, fintech and e-commerce); ‘4’ refers to four countries (Malaysia, Vietnam, Singapore and Indonesia); and ‘5’ means five investment principles. 

“We adopt this kind of a pyramid approach that provides people with a simple snapshot of how we go about looking at investments,” said Cheong. “Our principle is to look at the addressable market, the revenue business model, the pain point, the management team, and lastly, the valuation and exit step.” 

Cheong added that Auspac intends to invest in 15-20 businesses over three years at cheque sizes ranging from US$1 million to US$3 million. With two to three deals in every half year, the vehicle expects to generate a 30 per cent internal rate of return.

Also read: A horse of another: Here’s the full list of Southeast Asia’s 24 unicorns

With a team of six Singapore-based people, Auspac prioritises a co-investment strategy to leverage its portfolio’s due diligence process and advisory component.

“The collective team experience, both on the buy-side and sell-side, should be Auspac’s strong selling point that helps us evaluate the deal more holistically,” Cheong added. 

The VC firm noted that it only invests in startups that have started to earn money to reduce the failure rate. The founder is also concerned about regulatory hurdles in the rapidly evolving digital markets in Southeast Asia. 

“Something that we always need to be mindful of is how regulation affects the operating environment under which these startup models operate,” said Cheong. “But I believe that the governments are actually more inclined to promote the ecosystem so this regulatory risk can be managed and compensated accordingly.”

According to Singapore’s Cento Ventures report, VCs invested in a record-high number of deals in Southeast Asian startups in the first half of this year. Indonesia led the chart with half of the capital raised in the region, followed by Singapore, which accounts for 32 per cent of the total fundings.

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Image Credit: Auspac Investment Management

 

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We have all heard about impact investing by now. Why are so many famous investors and entrepreneurs diving into it? And what is impact investing actually about?

Impact investing is the fastest-growing investment category in private markets. Unlike ESG in public markets, it’s not just about avoiding harm. It’s about actively generating positive outcomes alongside financial returns.

In a world facing unprecedented global challenges, this can be game-changing. At Top Tier Impact, we see companies addressing impossible challenges – from detecting wildfires before they even spread, to making cement sustainable.

The thing is that there are giant markets waiting to be unlocked by solving these issues. Making our planet sustainable is the quest of our century. It’s big business too. In this article, we’ll explore how impact investing is set to become mainstream investing quicker than any of us could expect.

Impact investing covers the biggest investment opportunities of this decade and beyond

Impact investing tackles the big issues of our time, from scaling renewable energy to making quality healthcare accessible for all. The way we define “impact” inside the global TTI community is as a global paradigm shift towards sustainability and equality, across all economic sectors.

That means it’s not just the sustainable part of the food or fashion industries, it’s about shifting those entire industries towards sustainability.

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

There are massive regulatory changes pushing in this direction. The Task Force on Climate-Related Financial Disclosures (TCFD) implements a framework for public companies to disclose their climate-related risks and opportunities. First, it became mandatory in the UK.

G7 countries are now following suit, alongside Singapore and Switzerland among others. There’s more to come in relation not just to climate, but also to nature and water.

Let’s not forget about other acts too, such as the EU sustainable finance disclosure regulation. It happens to be the biggest piece of EU legislation since the Second World War.

As Larry Fink, the founder and CEO of BlackRock, the world’s largest asset manager, has said in multiple statements, “Sustainability is the biggest corporate transition taking place in history”.

Impact investing focuses on enabling utopia, not avoiding dystopia

Impact investing is where growth and future-focused innovation are at. That’s because it has a positive focus on creating a better world. As an example, take the waste management industry, overall, it’s been growing at low-single-digit figures for the past 10 years.

When it comes to AI-driven waste robotics companies, which enable us to redeploy waste and recycle more efficiently, growth is in double digits.

When you look at it, you realize that it unlocks a lot of value.

Companies using such technology can reduce their costs and tap into new revenue opportunities. After all, waste doesn’t actually exist. It’s simply materials that aren’t in the right place. When they are, things change positively for everybody involved – companies, consumers and our planet.

Also read: Why is impact investing suddenly so hot?

Impact investing is where the brightest and most ambitious minds are at

When I graduated from Oxford University, the buzz was all about tech and startups instead of banks and finance. Today, I’m on the advisory board of my Oxford degree and I notice that the most ambitious graduates all want to make a positive impact on the planet.

They are well aware of the issues we are facing. They studied the problems and are thinking about the solutions. For them, the purpose is not an added career bonus.

Purpose has to be embedded at the core of a company’s actions, philosophy and structure. They are also naturally good at distinguishing greenwashing from a real commitment to impact.

Impact investing enables a planet where our species actually survives and thrives

When you dive into the numbers and science behind what we are currently facing, you understand that climate change, biodiversity loss and other trends aren’t just something ‘nice to avoid.’ You grasp the systemic implications for the survival of our species.

We haven’t been around that long on this planet and we are very delicate. When dinosaurs walked on earth, the levels of CO2 in the atmosphere were orders of magnitude higher than today.

It would have been impossible for us to cope with it. By accelerating changes in our biosphere, we’re not killing the earth, we’re killing ourselves, as we are way less resilient than this planet.

Impact investing is what both Millennials and Gen-Z are all about

Impact investing is part of a macro shift that is already underway. Generational shifts like this are huge and it’s not a question of if, just when.

Also Read: A wave of change: What sets impact investing apart from traditional investing

This is where the opportunity lies for us all: by proactively embracing impact, we can help make a positive difference sooner rather than later and we align with where the world is naturally going anyway.

Personally, I feel a connection to future generations. You can call it responsibility or simply recognizing that we are all on the same big rock together, floating in a universe we still have no clue about. This might sound daunting, but it’s also very beautiful. Showing up with care, compassion and commitment is something that we owe to each other and to ourselves too.

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MarketWolf, an ‘intra-day options only’ trading app, has bagged US$5.5 million in a fresh round of seed funding from a slew of high-profile individual investors.

These individuals hold senior positions in renowned PE firms, investment funds, fintech and consumer internet startups. Among them are Anil Thadani, Ashutosh Sinha, Roy van Leeuwen, Tomas Urbanec, Anuj Srivastava and Ramakant Sharma.

Also Read: How cloud technology makes trading a hassle-free experience

The startup will use the new funding to build new products, expand its user base and attract top talent.

Vishesh Dhingra, founder and CEO of MarketWolf, said: “We aim to create a global community of MarketWolves – people who learn psychology, knowledge and tools to trade well in all market conditions and train each other to become better traders. In an industry that has been largely categorised into only bulls and bears, MarketWolves will be a worthy addition.”

The company was started in 2017 by Vishesh Dhingra (CEO) and Thomas Joseph (COO). MarketWolf helps people interested in short-term trading by simplifying the trading experience, removing unnecessary jargon and complexities associated with options, and educating them while protecting their capital with built-in risk features.

The firm does not give tips; instead, it “creates the right conditions and ecosystem for users to make better trading decisions”. The startup charges brokerage only when a trade makes a profit.

India is MarketWolf’s first market where its trading accounts increased by 4x, and monthly active users multiplied to 10x over the last few months. The company claims it has clocked over one million app downloads (Android and iOS) so far.

Also Read: How tech-driven trading can help enhance liquidity for investors

MarketWolf earlier raised US$1.7 million in angel funding and has raised a total of US$7.2 million to date.

Besides Singapore, the firm has offices in Mumbai, India.

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Five years ago, Dorothy and I left our jobs as Regional Senior Management at reputable global research and consulting firm to start EngageRocket. EngageRocket started as an answer to our frustration over how employee engagement surveys were being conducted across companies.

Now, the platform has evolved beyond what we could have imagined at first, with over 10 million survey answers collected from more than 200,000 users to date. 

We recently celebrated our startup’s fifth anniversary and this milestone made us reflect on our journey not just on the business side of things but also on our partnership.

Finding a co-founder that shares your vision is a big challenge, but making the relationship work in the long run is a bigger one. Even if you’re one of the lucky few, who have found a co-founder that shares your vision and ambitions, sustaining this partnership for 1, 5, and 20 years down the road will pose a new set of dynamics to navigate.

Nowadays, breakdowns in communications between co-founders have become a public secret within startup communities.

In his book The Founder’s Dilemma, Professor Noah Wasserman even stated that 65 per cent of failures in high-potential startups are due to interpersonal relationship problems, especially between co-founders.

Putting things into perspective made us realise how lucky we are to be partners that truly bring the best out of each other.

Also Read: A new approach to hybrid working: Let the employees decide when, how and where to work

Before EngageRocket, Dorothy and I had worked together for many years in our consulting job. Growing a regional business before together gave us insight into our common values, complementary strengths, and a foundation of trust.

We imported a high degree of commitment and accountability to each other into EngageRocket, which has infused our company values from Day 1. Now, we’re proud to say that we’ve found the right balance that works even as EngageRocket scales up its operations.

Here are some of the things we did to secure our partnership’s future.

Dropping C-suite titles

Looking at our contributions over the past five years, we have decided that holding ‘CEO’ and ‘COO’ titles are quite meaningless. The reality is to play to our strengths where we are most needed and cover for each other seamlessly when required.

We know the importance of maintaining swim lanes for decision-making clarity and speed. Within EngageRocket, Dorothy handles product decisions broadly while I deal with the go-to-market, and we respect each others’ decisions in both domains.

Other key business areas such as fundraising, key hires, and strategy are tabled for joint alignment. So far, we have found this to be a unique feature of EngageRocket that optimises decision-making, made possible by 10 years of collaboration prior.

Maintain utmost respect for each other and build a mechanism for check-ins

Conflict is unavoidable in any form of relationship, and our partnership was no exception. With 10 years of collaboration, we have faced many challenges that sometimes led to heated situations over differing opinions.

The frequency of conflicts was higher during the early days of EngageRocket as we made crucial decisions for the business. 

This is the true nature of any business relationship, but just like any other setback, there is a way to navigate it healthily. What we have learnt is to always return to our common values and never waiver on our trust and respect for each other.

This aspect of our partnership also influences how we lead our team; we always listen and understand the other first. This has served us well to this day as we ensure that all voices are heard.

The other thing we did was to build a mechanism for check-ins. Our schedules fill up fast, and while we prioritise responsiveness to each other in day-to-day operations, we’ve built ways to keep aligned in a scalable way.

Also Read: Some things to consider when finding your cofounders

Dorothy and I have a recurring 30-min weekly Monday morning operational sync, a one-hour monthly strategic alignment review, and a three-hour quarterly long-term planning in our calendars.

These check-ins keep us constantly aligned and leading with one voice at all times.

Balancing our friendship outside work

We are both founders and good friends– and we found it important to nurture both aspects of the relationship as they are mutually reinforcing.

Work and personal matters are separated by platform (we chat on work matters on Slack and personal matters on WhatsApp). We regularly show a genuine interest and concern for personal lives outside work.

We were there for each other through major personal events, and we make an effort to include our spouses when we connect outside work.

Even as we run our independent families, we find opportunities to check-in and build relationships with each other’s personal support network and feel joy in celebrating each other’s personal wins.

Moving forward

Of course, this is far from the end (or even the middle) of our journey with EngageRocket. Just a few weeks ago, Dorothy and I sat down for hours discussing our goals, ambitions, and aspirations for the next five years down the line. As we expand our team, we’re eyeing a larger scale expansion across APAC, followed by global expansion afterwards.

To fulfil this, we know clearly what needs to be done; strengthen EngageRocket’s product capabilities to answer the challenges that businesses in different regions face.

We also have one significant non-revenue related ambition in mind: to grow as founders while we empower our team to grow and become leaders themselves.

After all, EngageRocket’s vision is to create a world where people thrive, and organisations succeed and the best place to start realising this is in our own backyard.

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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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Image credit: EngageRocket

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The accelerated digital adoption since the COVID-19 pandemic has transformed businesses. Meanwhile, cybercriminals took this opportunity to exploit the increased digital exposure to the Internet (with work from home being the norm) to tap on vulnerabilities in the computer networks of individuals and institutions, be it local businesses or global organisations.

A report by IBM shows that 2021 witnessed data breach costs rising from US$3.38 million to US$4.24 million per breach, the highest average total cost reported in the last 17 years. A cyber threat assessment of the ASEAN region by Interpol pinpointed a number of prominent cyber threats throughout 2020, which included business email compromise, e-commerce data interception, and crypto-jacking, the latter related to the increasing popularity of cryptocurrency.

The above highlights the urgency of addressing the latest challenges in cybersecurity. And with projections that digital technology, be it mobile apps or the Internet of Things (IoT), will progressively be entrenched into the daily lives of Southeast Asians, addressing and preparing for potential issues by cybersecurity experts is timelier than ever.

Bringing cybersecurity knowledge to the region

Multiple forums exist to convene cybersecurity experts, enabling a robust interchange of ideas on the latest situation and solutions. However, not all of these forums adequately create a space for such discussions to occur. To attend the most established annual cybersecurity conferences and training in the world — Black Hat USA and DEF CON, combined — can cost upwards of S$10,000 for Southeast Asians to attend. Meanwhile, the CODE BLUE in Japan and HITCON in Taiwan, which are part of the East Asian Conferences, present 50% of their content in the local languages, adds a language barrier to non-native attendees. 

The lack of techno-centric cybersecurity conferences in the region — especially ones that are tailor-fit for the specific and unique context of Southeast Asia — became the impetus behind the creation of SINCON in 2018. The pandemic has not thwarted the annual conference with SINCON announcing the Infosec in the City, SINCON 2021 which will run on November 5-6 2021.

Infosec In the City, or IIC, is an international cybersecurity capability and capacity development network that aims to enhance the global cybersecurity capacity through training, events and conferences. IIC’s Singapore network — SINCON —  is based on the principle that expanding access to the latest cybersecurity information and updates will further impel the development of the regional cybersecurity industry, which already is growing rapidly.

Also read: How startups can foster resilience and break barriers

Furthermore, SINCON has been developed as the international flagship event of Division Zero (Div0). Div0 is the leading community in Singapore in terms of cybersecurity knowledge sharing, practice and development. Leading SINCON are Adrian Mahieu, an established international cybersecurity expert and organiser of 44CON, and Emil Tan, co-founder of Div0 who has built a solid reputation after working in cybersecurity for over 10 years. 

“SINCON will address the gaps and challenges in the cybersecurity space, particularly in Southeast Asia, through affordability of conferences, accessibility to great techno-centric practice and content, and bringing the best cybersecurity conference experience to Singapore and the region,” said Emil Tan.

Emil added that SINCON 2021 stood out from the previous iterations as this year’s conference marked the “coming together of the vision of SINCON on an online platform”.

“SINCON 2018, as the first iteration, was all about the techno-centric practice, with SINCON 2019 adding on the business and community side. Then, SINCON 2020 focused on the 2018 experience due to the move to an online platform. So, it can be said that SINCON 2021 is the online version of 2019 in the sense of the features and experience,” he added.

Making cybersecurity accessible to all

On keeping prices affordable, SINCON does this to ensure that as many cybersecurity professionals, practitioners, and enthusiasts as possible can benefit from the event, which will be conducted virtually due to the ongoing pandemic. Unlike bigger conferences in Singapore that charge S$1,500 and above for their physical conferences, SINCON made it a point not to go over S$1,000 (SINCON 2019 was S$595).

Currently, with everything online, SINCON tickets go as low as S$0 during the early bird period which lasts until 24 October, with the highest being S$75 for late purchases. SINCON releases three ticket categories, with the most basic being Open Access. Up one step is the Standard Access which unlocks the entrance to all the conference tracks, with Patron Access being the top-of-the-line ticket carrying additional perks such as being listed as a patron on the conference platform.

Also read: PETRONAS FutureTech 2.0 to catalyse tech startup innovation in the energy sector

The quality of the event’s content also certainly surpasses its price tag. SINCON 2021 will feature experts, practitioners, and thought leaders who are ready to share their wealth of knowledge and perspective on innovative solutions and real-life experience connected to managing next-generation cybersecurity risks, threats, and vulnerabilities. Here are some examples of the talks at the main event:

• Alex Matrosov, Founder and CEO of Binarly Inc., will be speaking on how to manage hardware and firmware security challenges to ensure holistic platform security in the current supply-chain world
• Global automotive security experts, Alina Tan, Edmund Lim, and Kamel Ghali, will be conducting workshops on car security.
• Aaron Aubrey Ng, Strategic Threat Advisor at Crowdstrike, will be conducting an exposè of the criminal underground.

Simply put, SINCON 2021 has content for everyone – whether you’re an expert, intermediate or beginner. There is something for you to learn and be able to apply immediately back at work, home or even school. 

Helping the region learn the hoops around cybersecurity

Knowing that attendees desire more than just passively listening to experts, SINCON has designed the Workshop Track for compact training courses that help attendees sharpen their expertise and careers. Furthermore, the BizComm Track will foster open conversation among cybersecurity industry leaders, professionals, practitioners, and enthusiasts to share their know-how, be it insights or tools.

Also read: Japan’s Aichi prefecture all set to build the city of the future by co-creating with startups

SINCON has put much thought into shaping a fine conference experience by forging a community vibe because it wants everyone to be equal as practitioners, instead of just as corporate representatives. Therefore, SINCON will also set up a Conference Foyer comprising Kampungs (aka Villages) as dedicated spaces for a specific domain or topic, and Capture the Flag (CTF) competitions for those up for a challenge. These villages and community events are held on the SINCON Discord channel for people to converse and share knowledge throughout the event.

Get your tickets today with an exclusive e27 offer

So, for those eager to take home fresh ideas on securing the latest technology while immersed in a participative conference environment, go over to SINCON 2021’s website at https://www.infosec-city.com/ to access all the tickets and details. 

To get our exclusive e27 offer, use the coupon codes below for the respective tickets:

Open – “E27OPEN”

Standard – “E27STANDARD”

Patron – “E27PATRON”

Future attendees can also follow SINCON 2021’s social media accounts on Facebook, Twitter, and YouTube to get the latest updates.

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This article was sponsored by the Centre for Cybersecurity (CFC) in support of Infosec In the City: SINCON 2021. CFC will be hosting 2 talks at the BizComm track for “How to enter cybersecurity as a career” and “What companies actually need in cybersecurity” at SINCON 2021.

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If you are attuned to the engineering world or the evolution of Tesla, you might have heard of this story — how Elon Musk personally hired two interns who impressed him by solving a problem with Telsa’s Model 3 in the summer of 2018. It was a story destined for the movie theatres and a beacon of inspiration for students hoping to carve out a career in innovation.

Gone are the days when interns would be satisfied with merely serving as an extra pair of hands or being in charge of coffee runs. Today, they expect employers to give them the opportunity to problem-solve real work issues, take part in high-growth projects, and contribute actively to the growth of the company.

Zachary Zou, a second-year business student at Singapore Management University (SMU) who had recently completed his summer internship through the University’s Global Immersion Innovation (GII) programme at Mask Network shared: “I advised my juniors who are embarking on their internships to think like a founder and not as an employee. By voicing out your opinions or thought-process at the right moments, not only displays your critical thinking ability but also shows that you’re truly part of the company, thinking in its best interest.”

Zachary’s motivation and sentiments to contribute meaningfully are not uncommon amongst his peers.

While it may be a challenge for startups to hire interns, the benefits certainly outweigh any stumbling block. It could even create more value than you can imagine.

Fresh perspectives and innovative solutions to old problems

The effort needed to create a learning module, guide, and train interns on the various aspects of the business can be time-consuming. On the flip side, this may be an opportunity for startup founders and even established companies to gain unbiased feedback, fresh ideas, and discover new alternatives to internal processes that can help improve efficiencies.

Mr Tan Yuan Pin, co-founder of MyKaki, a new age freight forwarding startup, shared how impressed he was with both Ms Clarisa Lim, a third-year student, and Ms Danawa Roslee, a final year student at SMU.

Also read: Explore cutting-edge cybersecurity tech at SINCON 2021

“After explaining our sales cycle to attain new leads, Clarisa took the initiative to improve our leads generation and sales call process by using digital tools to automate and optimise the number of leads or sales calls I can attain within a day,” said Yuan Pin.

“Danawa helped to create our online brand persona and simplify our communication materials to new customers in a more relatable manner that eluded us.”

Yuan Pin commented, “their initiative and willingness to contribute not only helped us improve our efficiency as a team but also helped the company to better analyse the quality of the sales leads gathered. We would still be doing some of these things manually or traditionally if not for their creative ideas and know-how in technological tools.”

Promoting your company to a young community of talents and potential customers

The truth is a three-month summer internship is not a long time. But here is a long-term perspective — an internship is a life experience that is going to stick with that person forever. By providing rewarding and positive work experiences for interns, you are potentially making them your company’s ambassadors when they share their memories and learnings with their community.

Being young digital natives, interns can be your best sales or advertising channel. The impact of word-of-mouth is immense. That is why some of the world’s most valuable brands like Facebook, Google, Coca-Cola, and L’Oreal invest in elaborate internship and onboarding programmes. If they are not going to be your employees, make them your customers or advocates of your brand.

Union Bank, a digital bank based in the Philippines and corporate partner of GII, inducts more than 100 local and international interns annually as one example. They gamified parts of their internship programme by incorporating an ideation bootcamp for interns to work together on FinTech challenges and providing an experiential learning journey that connects with the company’s product team and senior management directly.

Also read: How startups can foster resilience and break barriers

Ms Abeegail Caberte, Talent Acquisition Head of Union Bank said: “Through an interactive programme that allows interns to work on specific projects autonomously, we are able to talent-spot future leaders and simultaneously deepen our engagement level with the younger, highly mobile, and tech-savvy generation.”

The benefits are win-win. Union Bank said that they inculcate their brand values as part of the interns’ learning journey while interns gained a stimulating and fulfilling real work experience that they can be proud of.

Abeegail added: “We relied a lot on digital marketing for recruitment when we first started out. But after the first few years of this programme, job applications and referrals to our company increased tremendously.”

Developing your own capability as a leader or grooming your senior management

The demands of being a business mentor are much like parenting. A good mentor is able to demonstrate effective communication skills, has the confidence to provide guidance as well as being encouraging, supportive, and honest.

There is no better opportunity for startup founders to hone their leadership skills or companies to groom potential employees in management roles than through an internship programme. The learning experience can be both ways if the intention is set out in the right way from the beginning.

“You never know how good you are until you teach and try to nurture someone else,” Yuan Pin reflected candidly.

Also read: PETRONAS FutureTech 2.0 to catalyse tech startup innovation in the energy sector

“Even as an employer or mentor, I learned from the interns too — like how to condense crucial information and communicate constructive feedback to help them achieve their goals. I’ve also gained a better perspective of how to guide people to improve their work. In fact, through this exercise, I’ve started the company culture of encouraging our team including us founders to give feedback constantly in a positive manner.”

Yuan Pin concluded, “as employers, we have a responsibility to bring the best out of these young talents and it stems from us maintaining an open mindset, understanding from their perspective, and being willing to accept new ideas.”

To sum up, you will not be investing in just an internship programme but the future of your company and the interns’. Make it a meaningful relationship that is beneficial for both parties.

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In case you are on the lookout for proficient interns, the Global Innovation Immersion (GII) internship programme organised by Singapore Management University Institute of Innovation and Entrepreneurship (IIE) offers pre-screened young talents who possess an entrepreneurial mindset and are highly driven with inclination towards innovation and digital transformation.

Simply contact IIE at iie-gii@smu.edu.sg to find out how you can leverage on GII to build your talent recruitment programme!

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This article is produced by the e27 team, sponsored by SMU IIE

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

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Singapore-based Coda Payments, a provider of cross-border payments and distribution solutions for digital content, has acquired mobile e-sports tournament platform BAASH.

The transaction details remain undisclosed.

Upon the acquisition, Coda will extend its existing gaming goods and solutions range. They include Codashop, a marketplace for digital game content, and Codashop Global Series (CGS), a free-for-all community e-sports tournament.

With the BAASH deal, Coda aims to grow and better serve players who want to compete in CGS e-sports tournaments. CGS is present in 17 global markets and has gained over 100,000 participants in the past 12 months.

Coda also intends to optimise the BAASH platform and incorporate the service into Coda’s product line, with details to be announced later.

“This acquisition is an expression of our commitment to offering the best value, experience, and entertainment to our customers, every day, without fail,” Philippe Limes, CEO, Coda Payments.

Also read: Mobile, e-sports, live streaming shaping SEA’s gaming startup landscape in 2021

Launched in 2011, Coda has assisted gaming and entertainment digital content producers in monetising their goods and services in more than 45 markets. It is backed by London-based private equity asset manager Apis Partners and Southeast Asia and payment-focused investment fund GMO Global Payment Fund.

Codapay (a cross-border payments engine) and xShop (a gaming content distribution network) are also among the company’s offerings.

According to a press statement, publishers of games like Moonton (Mobile Legends: Bang Bang), Garena (Free Fire), and Tencent (PUBG Mobile), streaming platforms such as beIN and Bigo Live, apps like Tinder, and video-on-demand platforms, have integrated with Coda to attract customers and accept payments.

Coda claims Codashop is trusted as a source of games and in-game currencies, providing customers over 250 safe payment options and having clocked more than 90 million visits per month. 

The platform also boasts of enabling a “seamless purchase experience” with no required registration or log-in and instantly adding game credits or in-game currencies to gamers’ accounts.

Founded in 2016 and owned by Hong Kong-based CAPSL Entertainment, BAASH allows users to create e-sports events, compete in contests, and discover a community of like-minded gaming fans.

According to the “Asia Esports Market Report 2021” research, despite the COVID-19 crisis, e-sports in Asia generated US$543.8 million in revenue in 2020, a 4.9 per cent increase compared to that of 2019, and is slated to grow more robust this year.

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Ready to meet new startups to invest in? We have more than hundreds of startups ready to connect with potential investors on our platform. Create or claim your Investor profile today and turn on e27 Connect to receive requests and fundraising information from them.

Image credit: Coda Payments

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Starting out in 2018 as a coworking space operator, Singapore-based Greenhouse has gone through changes in the different stages of its journey as a startup.

A year after its debut as a coworking space in Jakarta, after winning several awards and becoming home to high-growth companies in the region, the company noticed a new opportunity that led to its pivot. Its clients who were entering the Indonesian market from abroad often struggled to source service providers to help them launch, operate, and commercialise their business in the country.

This led the company to become a business matchmaker for entrepreneurs, startups, and SMBs with service providers to help them scale. They started to qualify and contract service providers into their network, and launched the first version of the Greenhouse Marketplace in December 2019.

This year, the company introduced the latest addition to its business line: Revenew.

Revenew is a curated marketplace that offers startups a platform to source and hire outbound sales agencies to grow leads and revenues in new markets. The platform operates on a margin-based business where Greenhouse gains a commission for each deal that the suppliers close from the network.

As COVID-19 forced businesses to digitise operations, yet expanding into new markets as quickly as possible, Greenhouse builds the platform to help businesses to achieve that goal.

“We launched with 40 suppliers across 31 countries [by early September], now have more than 65 suppliers across more than 40 countries. We have helped at least 200 startups expand internationally, since starting this venture. Our ambition is to service 300 by EoY, and close with more than 100 suppliers across 50 countries,” explains Drew Calin, CEO at Greenhouse.

Also Read: ‘There’s no one-size-fits-all for corporate innovation, experimentation is key’: Sunway Group’s innovation chief

Connecting to the future

Throughout its short journey, Greenhouse has gone through changes from a pivot, layoff, restructuring, and two fundraises. The company, which was named in the e27 Luminaries list earlier this year for surviving the challenges of the time, is currently at a stage where they aim to become a platform that helps businesses scale through a curated marketplace of go-to-market (GTM) services).

“Our plan is to become the Business Services version of UpWork, through the marketplace and SaaS solutions,” Calin writes in an email interview with e27.

“With the limitations of COVID-19, travel is harder than ever but scaling businesses still require access to new markets. Revenew is our solution to help founders grow leads and revenue in new markets, remotely. In all likelihood, Greenhouse services (corporate services) will roll into Revenew.ai in time, and the entire platform will become a GTM marketplace, offering startups access to business development, corporate, operational, and growth services – covering every stage of growth for every startup,” he further explains.

After undergoing this process, there are several lessons that Calin can share as a founder.

The first part is related to building a team that is resilient enough to go through challenges. Apart from living the philosophy of running the company as a team –instead of a family– Calin also believes in the philosophy of hire slow and fire fast, a principle that is commonly implemented in the business world.

“Over hiring may feel great at the time, but it will kill your business,” he says. “Better to pay well for one great hire, than three or four mediocre ones.”

Also Read: How Warung Pintar builds tech solutions to help warung owners embrace the future

This careful and value-oriented approach is also implemented in the company’s fundraising process, where Calin puts emphasis on raising capital only from “investors who can offer value beyond the monetary sense.”

Another lesson that the company has learned is related to the process of product development itself.

“Test and iterate weekly,” Calin stresses. “User testing is the most valuable part of your product development process.”

The company also believes in being efficient in its product development process. For example, by knowing when to invest more in this process.

“Don’t build tech when you can stitch the solution together through low or no-code tools,” Calin says. “Spend as if you’re bootstrapping until you reach product-market fit.”

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Image Credit: Greenhouse

The post How Greenhouse aims to seize new opportunities with its new platform Revenew appeared first on e27.

e27 is thrilled to announce that we are working with IES-INCA to provide startups with access to e27 Pro.

IES-Incubator and Accelerator (IES-INCA) is a strategic initiative by The Institution of Engineers, Singapore (IES) to support engineers in technopreneurship and new technology business ventures.

IES-INCA is a platform “by engineers for engineers” that supports entrepreneurial engineers with deep tech innovations, enabling them to be successful in commercialising products and services through the scale-up incubation programme or via mentorship of first-time entrepreneurs through the Enterprise Singapore SgFounder programme.

From their board of directors to their operations team, IES-INCA speaks the same language and understands the needs of engineers and technopreneurs, with mentors advising on necessary technical, financial, and business development. Technopreneurs can tap on the rich experience of industry and finance experts to build a comprehensive and sustainable business with incubation or mentorship that emphasises quality engineering rather than just business aspects.

Also read: Facebook Community Accelerator Program introduces the 19 communities of the 2021 APAC cohort

In this new partnership, IES-INCA in its role as a community-builder will be working with e27 to grow and boost the connections between the technopreneurs, investors, mentors, and corporates in the deep tech space. With e27 in its role as the media partner, its extensive reach in the market and media, activities in the deep tech venture ecosystem will be able to receive greater market interest and awareness.

To launch this new partnership, IES-INCA will host a webinar together with e27, entitled In Conversation with a Deep Tech Investor. The webinar will talk about what founders need to know when engaging with a Deep Tech Hardware investor. Openspace Ventures has been invited to share its insights on key considerations for investing as well as its experiences working with founders.

For this webinar, we’re excited to have Mr Hian Goh of Openspace Ventures discuss key perspectives in how Openspace Ventures evaluates potential investments in companies.

Join this session happening on Wednesday, Oct 13, 4:30-5:45 PM SGT as we build a closer Deep Tech community engaging an investor and fellow Technopreneurs. You can register for free here.

Opportunities to build your investor network

Over the past couple of months, we have served over 3,000 connections between startups and investors through e27 Pro’s Connect feature.

In this new normal, there is a distinctive lack of ability for different parts of the Southeast Asia tech ecosystem to reach out to each other.

We used to have thousands of offline activities happening monthly, connecting various local and regional ecosystems, connecting startups, corporates, governments, and investors. Even our very own Echelon used to bring in more than 10,000 people over two days to achieve these meaningful, often serendipitous, connections.

This is a real pain, especially if you are new to the ecosystem and do not have existing networks that can introduce you to new ones. Online webinars and conferences seem to alleviate this issue temporarily, but we find that the startup ecosystem requires more.

Also read: Blue skies for Malaysia’s drone industry with Aerodyne

e27’s mission has always been to empower entrepreneurs with the tools to build and grow their companies. With e27 Pro, we’re going back to our roots and helping startups with their fundraising by providing a platform that allows not only discovery but a tool to begin conversations with investors and update them on their progress.

With over 300 verified active investors on the platform, e27 Pro members have in their reach the ability to find, connect, and engage with investors that are right for them. Not a Pro member yet? Start here.

Get the chance to connect with IES-INCA

IES-INCA is onboard e27 Pro, and members can reach out directly to them via e27 Pro’s Connect feature to be connected to the deep tech and engineering tech venture ecosystem or explore incubation with them.

Any e27 Pro member can simply visit IES INCA’s profile and click the Connect button to get the ball rolling.

The post IES-INCA partners with e27 to support deep tech innovators appeared first on e27.

ESB, a fully integrated restaurant operating platform in Indonesia, has bagged US$7.6 million in extended Series A funding round, led by Alpha JWC Ventures.

Existing investors, including Beenext, Vulcan Capital, AC Ventures, and Skystar Capital, also co-invested.

With this funding, ESB plans to extend its footprint in the market. The fresh capital will also help the startup develop new Artificial Intelligence-based features, enhance its business intelligence (BI), delivery, payment, funding solutions, and HR information system.

ESB was established in 2014 by Gunawan Woen, Eka Prasetya, Setiadi Prawiryo Moeljadi, and Dwi Prawira. It is an all-in-one provider of culinary business operations software, connecting restaurants’ front-end, back-end, consumers, and supply chain partners. Its mission is to help F&B businesses increase their profits by incorporating technology to improve sales and operational efficiency.

Also Read: ESB, Indonesia’s answer to Toast, bags US$3M in Beenext-led Series A round

The firm’s initial offering was a customised enterprise resource planning (ERP) cloud solution to replace traditional hardware-based systems. It later expanded its objectives and started working on an all-in-one restaurant operating system covering a point-of-sale system and mobile ordering technology called ESB Order.

ESB aspires to follow the success of Toast in the US, which recently launched a successful IPO.

The Jakarta-headquartered firm has served more than 500 F&B brands, including MAP Boga Adiperkasa, Ismaya Group, Sour Sally Group, and Marugame Udon. It claims to be processing more than 40 million orders annually.

ESB managed to grow by 3x YoY during the pandemic mainly due to the demand for touchless ordering, which ESB caters to via its ESB orders. It now processes over US$500 million in gross transaction value and is expected to grow 10x in the next two years.

Before this round, ESB had received a total of US$3 million from Beenext, AC Ventures, Skystar Capital, and Selera Kapital earlier this year.

“Restaurant business is a combination of manufacturing, trading, and retail. We strive to alleviate the headache of dealing with separate platforms to meet the needs of these different aspects. At the same time, we help businesses generate better customer engagement, optimise their operations, and eventually increase their net profit,” said co-founder and CEO Woen.

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Image Credit: ESB

The post ESB, the ‘Toast of Indonesia’, adds US$7.6M to its Series A kitty to develop new AI features appeared first on e27.