In an era when sustainability is becoming a core concern for businesses, Singapore-based materials innovation startup Xinterra has unveiled its groundbreaking carbon dioxide (CO₂)—capturing textile treatment, COzTERRA.

The innovative material, which enables fabrics to remove and sequester CO₂ from the air, is making its commercial debut through a partnership with sustainable fashion brand Kemunna.

Founded in 2021, Xinterra is on a mission to accelerate materials research and development using its proprietary AI-driven and high-throughput experimentation-powered platform, XDF (Xinterra Design Factory). The company focuses on developing novel materials at an unprecedented pace, addressing pressing global challenges such as climate change.

“We wanted to use the power of our XDF platform to solve some of the most pressing issues humanity faces, such as climate change,” says Patrick Teyssonneyre, CEO and Co-Founder of Xinterra. “Instead of focusing on industrial applications like direct air capture, we wanted to activate dormant surfaces of products that are part of our daily lives to capture CO₂, empowering individuals to become CO₂ capture agents.”

The science behind COzTERRA

COzTERRA’s technology enables textiles to absorb and sequester CO₂ through a specially developed liquid treatment applied during the fabric processing stage. Once absorbed, the CO₂ undergoes a chemical reaction with regular laundry detergents, transforming into sodium bicarbonate (baking soda), a stable and harmless mineral that is washed away.

This process not only removes CO₂ from the air but also allows the fabric to be recharged for continuous CO₂ capture.

According to Xinterra, each COzTERRA-treated T-shirt can remove between 16 and 41 grams of CO₂ over its lifespan. Collectively, 20 such T-shirts worn at the same time could capture as much CO₂ as a mature tree in a day, highlighting the innovation’s significant environmental potential.

Also Read: Malaysia’s unicorn hunters: The startups raising millions and scaling fast

A fashionable approach

Xinterra has chosen the fashion industry as the launchpad for its CO₂-capturing material. Collaborating with Kemunna, a Singapore-based sustainable fashion brand founded by Brazilian entrepreneurs, the company is bringing the technology to market through a limited-edition collection of COzTERRA-treated t-shirts.

“At Kemunna, innovation and sustainability are the foundation of everything we do. For our launch, we wanted a product that seamlessly embodies these values,” says Ricardo Costa, Co-founder of Kemunna. “Partnering with Xinterra and their groundbreaking CO₂-capturing technology was a natural fit.”

The COzTERRA-powered t-shirts were unveiled at the Singapore Fashion Council’s 2024 “Be the Change” Summit and are available exclusively online at Kemunna.com. The initial collection is limited to 200 shirts, giving early adopters a chance to engage in climate-conscious fashion.

Bringing COzTERRA to commercial reality required rigorous research and testing. Xinterra developed a high-output environmental chamber to evaluate CO₂ absorption performance across various materials. Using AI-powered analytics, the startup identified optimal raw material combinations, enabling rapid development cycles that outpaced traditional R&D processes by three to four years.

“We built high-output environmental chambers in-house to measure the CO₂ absorption performance of several commercial raw materials. These data points trained our AI, which then recommended new combinations for our lab. We ran multiple cycles of AI-driven experimentation until we achieved the best balance of technical performance and cost competitiveness,” explains Teyssonneyre.

Beyond research, Xinterra has taken an active approach in marketing COzTERRA to textile mills and brands, demonstrating how the technology can enhance their sustainability credentials and increase customer engagement.

Also Read: SAFE STEPS D-Tech Awards 2025: Applications now open!

“We have been approaching both textile mills and brands to explain how they can empower consumers to fight climate change, potentially increasing market share and customer loyalty,” adds Teyssonneyre.

While COzTERRA’s first application is in fashion, Xinterra envisions expanding the technology beyond textiles. The startup aims to adapt the material for other commonly used surfaces, transforming everyday objects into carbon capture tools.

“The vision for COzTERRA is to convert dormant surfaces into CO₂ capture surfaces,” says Teyssonneyre. “Next in our pipeline are residential paints and filters for air conditioners and vacuum cleaners.”

This broader vision aligns with Xinterra’s long-term goal of making carbon removal an integrated part of daily life, moving beyond industrial carbon capture to consumer-driven climate solutions.

Strategy for impact

As a newly launched sustainable fashion brand, Kemunna is leveraging a direct-to-consumer (D2C) model to promote its CO₂-capturing apparel. The company is focusing on digital marketing, strategic partnerships, and sustainability events to reach climate-conscious consumers.

“Kemunna is launching as a D2C brand, and our strategy focuses on engaging climate-curious and climate-conscious customers through digital channels like social media, content marketing, and online campaigns,” explains Costa. “We’re also exploring B2B collaborations with organisations interested in sustainable corporate gifts and apparel.”

Also Read: Why 2025 is the best time for AI skills and governance training in data governance

Beyond the initial launch, Kemunna has ambitious plans to expand across Southeast Asia, positioning itself as a leader in sustainable fashion. The company aims to establish partnerships with corporations and sustainability-focused events while also exploring additional high-impact technologies to integrate into future collections.

“Through this partnership with Xinterra, we aim to introduce COzTERRA’s innovative technology to the consumer market, raise awareness about sustainable fashion solutions, and drive adoption of this impactful innovation,” Costa notes. “Ultimately, we aspire to establish Kemunna as a trusted partner for bringing groundbreaking consumer technologies to market.”

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Image Credit: Kemunna, Xinterra

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Indonesia’s Financial Services Authority (OJK) has placed former Investree Radhika Jaya CEO Adrian Asharyanto Gunadi on its wanted list following allegations of financial misconduct.

Gunadi, who co-founded the peer-to-peer lending platform, is suspected of illegally raising funds without the necessary permits, leading to significant losses for users.

Authorities believe he has fled abroad to evade legal action.

The OJK’s move follows the revocation of Investree’s business licence on 21 October 2024 due to the company’s failure to meet regulatory requirements. The fintech firm struggled with declining performance and could not secure credible investors to stabilise its operations. Despite warnings from regulators to inject fresh capital and improve governance, Investree failed to comply, leading to liquidation proceedings.

Also Read: Qatar firm JTA leads Indonesian MSME lender Investree’s US$231M Series D round

OJK Executive Supervisor Agusman confirmed that Gunadi’s alleged financial irregularities are under investigation. Reports suggest that he diverted company funds into his personal account and used Investree as a guarantor for a separate business venture.

As part of its enforcement measures, the OJK is blocking Gunadi’s bank accounts, tracing his assets, and pursuing legal action to ensure accountability.

In addition to Gunadi’s case, the OJK has been tightening regulations across the fintech lending sector.

With Investree’s liquidation underway, borrowers are still required to fulfil their repayment obligations to lenders. A liquidation team, appointed by Investree’s shareholders and approved by the OJK, will oversee the repayment process and asset distribution.

Founded in 2015 in Jakarta, Investree provides digital financial solutions to largely underbanked MSMEs who previously faced difficulties securing loans without collateral from traditional financial institutions. It provides four products: invoice financing, working capital term loan, buyer financing, and microproductive loan for ultra-micro entrepreneurs.

In October 2023, Investree secured EUR 220 million (US$231 million back then) in a Series D funding round led by JTA International Holding by establishing a joint venture (JV) with the Qatar-based firm. The company’s Series B and C investor, SBI Holding, also participated in the round.

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The global artificial intelligence (AI) market, valued at US$638.23 billion in 2024, is projected to grow to an impressive US$3.68 trillion by 2034, with a compound annual growth rate (CAGR) of 19.1 per cent over the next decade.

Businesses and individual creators are exploring new frontiers in Generative AI (GenAI), which are tools that can produce original digital art, music, and other creative works in various industries. Advanced models handle massive amounts of data, leading to faster iterations. According to a survey by PwC of at least 1,000 business and technology executives, 40 per cent of respondents have achieved increased productivity with the use of GenAI in their organisations, while 41 per cent have also seen improvements in customer experience.

AI agents, particularly in the art and music industry, have significantly transformed digital creativity. These sophisticated tools can generate unique visual artworks by analysing vast datasets of existing art, thereby enabling artists to explore new creative avenues and push the boundaries of traditional art forms. The AI art market was valued at approximately US$3.2 billion in 2024 and is projected to reach around US$40.4 billion by 2033, indicating a CAGR of 28.9 per cent.

How automation tools reshape artistic workflows

GenAI’s capacity to create original output comes from deep learning algorithms trained on vast and varied datasets. These models can generate new content, such as images, songs, or written narratives that take inspiration from existing aesthetics—accelerating proof-of-concept work for artists and composers in the form of non-fungible tokens (NFTs). NFT royalties allow creators to earn a percentage of the sale price each time their digital collectibles are resold on the secondary market, providing a continuous revenue stream.

A Massachusetts Institute of Technology study considers the technology’s role in music as being able to augment human capabilities and the “discovery of new musical ideas.” According to the study, “Generative AI technology now stands to carry this legacy forward—but truly nurturing musical creativity relies on developing transformative new systems guided by this synergistic interaction.”

AI agents on streamlining music production and digital art

AI agents are redefining the music production process by helping users craft tracks efficiently, tailoring elements such as tempo, genre, and emotional tone. Platforms like Soundraw illustrate how AI can democratise music creation, enabling professionals and newcomers alike to produce high-quality audio without mastering complex software.

Also Read: The future of blockchain technology goes beyond just cryptocurrency and NFTs

AI-generated songs, like the controversial 2023 track “BBL Drizzy,” demonstrate how minimal human input can lead to compelling results.

AI agents have become instrumental in the creation of art, utilising advanced algorithms to generate images based on textual descriptions. The impact of AI-generated art is evident in the achievements of AI artists like Botto, an AI program that has created over 150 artworks, amassing more than US$5 million in auctions since its inception in 2021.

Moreover, AI agents are not limited to digital creations; they have also ventured into physical art forms. Ai-Da, the first ultra-realistic humanoid robot artist, produced a portrait of mathematician Alan Turing, which sold for US$1.08 million at Sotheby’s in New York.

A constant challenge in AI-generated content

Automation tools help break down complex creative projects—such as drawing and modifying multiple concept art sketches—into more manageable tasks.

However, a recurring concern is intellectual property, particularly around how training datasets may include copyrighted images or works. Questions persist on whether AI outputs infringe upon existing intellectual property or fall within fair use.

In June 2024, major record labels, including Sony Music Entertainment, UMG Recordings, and Warner Records, filed lawsuits against AI developers Suno and Udio. The allegations centred on the unauthorised use of copyrighted music to train AI models, resulting in outputs that closely mimic the styles of well-known artists like Michael Jackson, ABBA, and Bruce Springsteen.

Challenges remain, with copyright policies and algorithmic biases requiring that final outputs meet professional and creative standards.

Monetising creative works

Royal.io provides musicians with a means to distribute rights to their artistic works. The platform takes advantage of blockchain technology to establish transparent royalty splits and facilitate fan engagement. The platform is backed by musicians such as The Chainsmokers, while other artists have also offered streaming royalty rights to their songs, such as the rapper Nas.

Also Read: How your business can benefit from the NFT phenomenon

Runway ML is a leading platform for integrating AI into creative workflows, offering tools for video editing, object detection, and generative content creation. With over 50,000 AI models developed and 24 million assets uploaded by its community, Runway ML is recognised as one of TIME Magazine’s 100 Most Influential Companies.

AIMAGINE provides a custom data layer that aggregates information for AI agents, which are software that interacts with data and environmental inputs to achieve certain goals. AIMAGINE’s AI Agent Launchpad simplifies deployment and provides a framework for gaining liquidity from its use of data.

The venture-backed platform also hosts an IP marketplace where developers can license AI agents for various tasks, building a circular economy for licensing revenue across different creative fields augmented by AI. AIMAGINE partners with Arbitrum, a leading Ethereum layer-2 scaling solution known for its efficient and cost-effective transaction processing, to enhance its AI-driven automation capabilities through scalable, decentralised infrastructure.

The future of AI-driven creativity

There is no question that GenAI stands as a powerful catalyst in creative fields, streamlining content production and opening new avenues for monetisation.

Through automation, creators can eliminate tedious workloads, boost quality, and deliver compelling digital works at a faster time to delivery.

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Picture this: You’re drowning in deadlines, drowning in caffeine, and drowning in existential dread. Now, add a sprinkle of self-love. Suddenly, you’re not just drowning; you’re doing the backstroke in the pool of life (eye flutter). Embracing the chaos with a twisted smile is what self-love is all about.

Remember, folks, if you can’t love yourself, who can? Well, maybe your cat, but let’s not count on that. So, take a break, indulge in some dark chocolate (preferably 90 per cent cocoa and 10 per cent regret), and remember that even Batman takes a day off from Gotham.

Let’s talk about solo founder self-love

Being a solo founder is like being the star of a one-person show. You’re the writer, director, and lead actor, all rolled into one fabulous entrepreneur. This Valentine’s Day, take a moment to appreciate the sheer brilliance it takes to manage it all. Remember that time you stayed up until three AM tweaking your pitch deck? Self-love! Or that day, you celebrated closing a deal with a victory dance in your living room? Self-love squared! Embrace your accomplishments like a cosy blanket — warm and comforting.

The co-founder love with boundaries

Now, let’s talk about that special someone who knows your business inside out — your co-founder. It’s essential to maintain a healthy co-founder relationship, much like a well-balanced diet (but with more caffeine). Set boundaries because no one wants to be the co-founder who accidentally sends work messages at two AM when they’re sleep-deprived. That’s not love. That’s just exhausting.

Also Read: The AI revolt: How our love affair with technology could turn into a hate story

Building strong relationships through professional love

Because networking is not just for LinkedIn!

Valentine’s Day isn’t just about romantic love; it’s about spreading love in the professional realm, too. Cherish your team members and clients, but don’t forget to express your love through actions, not just words. Maybe surprise your team with a spontaneous “no-meetings” day or send your clients a personalised meme — because who doesn’t love a good laugh, right?

Humour is a universal language, so why not make it your lingua franca?

Imagine the power of resolving workplace conflicts with a well-timed sarcastic remark. It’s like a Jedi mind trick but with more eye rolls and less lightsabers. And in your personal life, remember that laughter is the best medicine — unless you’re always alone laughing at your own jokes, in which case, please ask your HR to book an appointment with Safe Space to help you with conflict management.

When things get rocky, hug your business plan

Every founder faces challenges, and it’s crucial to navigate them with a sense of humour. When things get tough, hug your business plan tighter than your favourite teddy bear. Remember, setbacks are just plot twists in the epic saga of entrepreneurship. Laugh in the face of adversity, and your business will thank you for it.

Also Read: A look into (brand) love in the time of Web3

In conclusion, this Valentine’s Day, shower yourself with the love you deserve and maybe throw a little affection towards your co-founder and business. After all, a founder who can embrace self-love and share the love professionally is a force to be reckoned with. Happy Valentine’s Day, fellow founders! May your love for yourself and your business be as boundless as your ambition.

Don’t just hear it from me

Sharing a success story of a well-being warrior.

Now, let’s shine a light on a well-being warrior who has mastered the art of success without losing her sanity in the process. From the heart of chaos, she has made self-love a priority:

“Dare to dream, dare to inspire, and unlock the potential to shape your destiny and share your passion with the world, one day at a time.

I always remember ‘balance’ to keep my sanity while running this business:

B: Breathe while delegating effectively

A: Align by setting clear work-life boundaries

L: Love self-care, prioritise family times

A: Ask for support when needed

N: Notice and celebrate small victories

C: Coordinate time wisely

E: Embrace continuous learning”

In conclusion, dear comrades, love yourself and others, but do it with a dash of humour. Life is a series of punchlines waiting to be delivered, so why not embrace the chaos with a smile?

Remember, success is not just about the destination; it’s about enjoying the hilariously bumpy ride. Stay quirky, and most importantly, stay weirdly lovable!

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This article was first published on February 19, 2024

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Artificial Intelligence (AI) continues to redefine the socioeconomic landscape across the globe, bringing transformative changes to industries, public services, and daily life. 

As the technology matures, its influence permeates sectors ranging from healthcare and education to agriculture and urban planning. 

Notably, future developments highlight that the world is not only rapidly adapting to AI’s potential but also leveraging it to address long-standing challenges, drive innovation, and enhance global competitiveness. In 2024, the Asia-Pacific region experienced a significant surge in AI adoption, with over 70 per cent of employees utilising generative AI (GenAI) tools for work purposes and 16 per cent engaging with these tools daily.

The integration of AI is reshaping how societies operate, creating opportunities for growth while sparking conversations about ethics, governance, and inclusivity.

AI agents revolutionising efficiency and automation

Among these, AI agents are at the forefront of streamlining operations across critical sectors, driving transformative change in agriculture, finance, and customer service. By automating complex processes and delivering precise, actionable insights, AI is unlocking unprecedented efficiency and growth opportunities worldwide.

AI agents are significantly impacting industries like customer service, finance, and technology. In India, AI-powered chatbots and virtual assistants are enhancing customer interactions across various sectors. For instance, during the 2024 Indian general elections, AI was utilised to translate political speeches in real-time, enabling broader voter engagement.

In Southeast Asia, AI is driving growth in the digital economy. The e-Conomy SEA 2024 report highlights that Southeast Asia is ideally positioned as a fertile ground for AI development and adoption, with strategic investments in areas like GenAI adoption, talent development, and AI infrastructure. In just two years, profitability has surged 2.5 times, rising to US$11 billion in 2024.

Also Read: Beyond disposal: How businesses can embrace sustainable IT practices in Malaysia

In Singapore, 80 per cent of financial institutions use AI-powered fraud detection systems, significantly reducing cybercrime risks. Additionally, government initiatives like the National AI Strategy 2.0 aim to up-skill 15,000 individuals by 2026.

Staying competitive in the corporate landscape

Large corporations are increasingly embedding artificial intelligence (AI) across their workflows to drive efficiency, innovation, and competitive advantage. For instance in Malaysia, Petronas has revolutionised its oil refinery operations with AI-driven predictive maintenance systems. 

Meanwhile, Amazon is preparing to relaunch its Alexa voice assistant as an AI “agent,” capable of performing complex, practical tasks. However, the company is solving technical challenges, including reducing AI hallucinations, improving latency, and ensuring reliability.

Likewise, AWS is deepening its collaboration with Anthropic, which includes deploying its Claude AI models on AWS Bedrock and using AWS Trainium chips for training advanced AI systems.

Also Read: Exploring the boundaries of AI: What AI can or cannot do?

AI’s impact across everyday services

AI’s influence extends to tools directly enhancing individual experiences. In 2024, Deciphex, a Dublin-based medical technology company, introduced AI-driven platforms like Diagnexia and Patholytix to assist in diagnostics and address the global shortage of pathologists. These tools help pathologists diagnose diseases faster and more accurately, significantly increasing productivity by up to 40 per cent.

Grab, Southeast Asia’s ride-hailing giant, uses AI to optimise routes and reduce passenger wait times. Through its partnership with AWS, Grab has launched nearly 1,000 AI models across various use cases, including route optimisation and pricing. The company also employs AI for dynamic delivery batching, enabling drivers to handle multiple deliveries on the same route, cutting costs and improving efficiency, while boosting earnings for drivers.

What’s next for the AI-powered workforce?

Key AI trends are also defining the trajectory of the region’s technological ecosystem. Notably, in Southeast Asia, 84 per cent of GenAI projects progressed from ideation to production within six months, with 74 per cent achieving a return on investment within a year. 

Meanwhile, Malaysia, Thailand and Singapore have attracted over US$30 billion in AI infrastructure investments in the first half of 2024, positioning the regions as Southeast Asia’s hub for AI development. 

Despite advancements, privacy concerns remain a hurdle with consumers oblivious of AI’s data collection practices, prompting stricter regulatory measures from authorities.

But one trend is crystal clear: AI is driving unparalleled change across Southeast Asia, enabling industries to innovate and individuals to thrive. However, addressing challenges such as workforce adaptation, infrastructural bottlenecks, and consumer trust is essential for ensuring equitable and sustainable growth.

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Asia’s fintech sector is experiencing substantial growth, with transaction volumes projected to hit US$19 trillion by the end of 2025.

This surge is largely fuelled by digital payments and transfers, underpinned by a growing user base and the widespread adoption of mobile technology.

According to recent research by UnaFinancial, the total volume of fintech transactions in Asia reached US$16.8 trillion in 2024, an increase of US$2.1 trillion from the previous year. This places Asia as a major player in the global fintech arena, accounting for 48.2 per cent of the total global fintech volume, which was US$34.8 trillion.

Digital payments and transfers are the primary drivers of growth, contributing 40.1 per cent (+US$834 billion) of the total fintech expansion in Asia. Digital commerce accounted for 21 per cent (US$435 billion), digital banking for 32.9 per cent (US$684 billion), and other sectors made up the remaining 6 per cent (US$124 billion).

Also Read: Why embedded finance is critical to Southeast Asia’s digital future

While digital payments lead the current growth, historical data from 2010-2024 indicates that digital investments and wealth management grew most rapidly at an average of 92.1 per cent per year, followed by digital banking at 48.6 per cent.

Analysts at UnaFinancial attribute the sector’s growth to the rise of super apps, which have transformed consumer behaviour, with shoppers increasingly using built-in features such as digital wallets and buy-now- pay-later services.

Additionally, several Asian governments are implementing policies to develop unified payment platforms, which are promoting the demand for digital financial services by cutting costs for businesses and improving user experience. This trend is especially prevalent in emerging economies with limited access to traditional banking and a growing rate of smartphone usage. The increasing need for cross-border payments is also a key factor.

The Asian fintech market is expected to grow to US$18.9 trillion by 2025, representing a 12.6 per cent year-on-year increase. Globally, the fintech industry is forecasted to reach US$40.1 trillion, with Asia contributing approximately 47.1 per cent of this total.

The digital payments and transfers sector will remain the primary growth driver, contributing 45 per cent of Asia’s market growth, in contrast to a global figure of 32%, indicating Asia’s dominance in this sector.

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In today’s interconnected world, where consumers are increasingly conscious about the values upheld by the brands they support, integrating diversity and inclusion (D&I) into a company’s ethos is no longer optional; it is imperative. Embracing D&I not only creates a more just and equitable society but also catalyses building well-developed products and services that resonate with diverse consumer bases.

In a survey conducted by Deloitte, 83 per cent of respondents affirmed that they are more likely to trust a company that promotes D&I. Customers increasingly want to associate themselves with brands that align with their values.

The realm of technology is not exempted. In fact, tech continues to serve as an immutable enabler in facilitating D&I. Another survey conducted by RedThread Research on D&I tech vendors reveals promising market traction. The findings show that nearly 60 per cent of the vendors surveyed have generated revenue of over US$100,000, and more than a third of them have acquired more than 100 customers.

To adapt to the changing demands of customers, investing in technologies that improve user experiences, such as text-to-speech (TTS) technology, is crucial.

TTS provides a multisensory reading experience that combines seeing with hearing. This innovation was originally intended to eradicate accessibility barriers, a purpose it still serves that enables individuals with disabilities, non-native speakers, and seniors who face difficulties navigating complex interfaces to access digital content.

For consumer-facing brands, TTS has become increasingly popular among the younger generation, as evidenced by a 2022 survey showing that 70 per cent of respondents aged 18 to 25 viewed content with simultaneous audio and captioning “most of the time.” Social media platforms like TikTok and Instagram have also incorporated TTS features, making it an anticipated feature across various content consumption platforms.

The benefits of TTS go beyond meeting regulatory requirements or promotional activities. It also serves as a valuable tool for faith-based apps, such as the Muslim Pro app, that cater to a global audience and aim to reach a diverse range of users. 

Fostering inclusivity

Today, Islam is not only the world’s fastest-growing religion but it is projected to be the largest one by 2075. Despite technological advancements, there is still a notable absence of groundbreaking innovation that could significantly transform how Muslims practice their faith.

Also Read: How faith-based lifestyle apps can raise the bar to become super apps

In a world where many Muslims struggle to find the time and space for daily prayers and spiritual practices, TTS offers a convenient solution. For instance, Muslims who are visually impaired may require such tools to access religious texts, such as the Quran, in audio format. For us, implementing TTS is a promising step forward in this regard.

With over 148 million downloads worldwide to date, our app has demonstrated the potential of engineering to promote inclusivity and accessibility for faith-based communities. It has made great strides in reaching a global audience by incorporating the latest TTS technology for reciting Quran translation with support for over 20 languages, including Česko, Korean, Norsk, Italiano, Português, Romanian, and more.

For Muslims, prayers, known as duas and supplications, are often recited in Arabic at various times throughout the day. This makes prayers attainable to users in a user-friendly and comprehensible manner, irrespective of their proficiency in the language. This is an example of how it can be used to bridge cultural and linguistic barriers.

It is also a valuable resource for Muslims who are still learning the Arabic script. Making it available allows us to ensure that all Muslims can engage with their faith on their own terms on the go.

Whether you’re in the tech industry or not, the benefits of incorporating innovative tools are evident. As more people turn to digital tools to deepen their connection with their faith, tech companies must prioritize diversity and inclusivity in their products and services. By investing in innovative solutions like TTS, we can improve user experiences and reach a broader audience, promoting a more inclusive and accessible digital landscape.

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This article was first published on May 25, 2023

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The threat landscape in cybersecurity and data protection is evolving, and startups now face new challenges as AI technology rapidly advances and cyber attackers look to employ new tactics. From realistic phishing emails to deepfaked videos, malicious actors are leveraging AI to craft highly convincing and targeted attacks with greater precision and scale.

For startups and SMEs, it is essential that they are well prepared for these challenges and are aware of some of the major threats, both in the present and short-term future. Let’s take a look at three ways in which cybercrime is set to evolve over the next five years.

Commodification of malicious services

The emergence of new tactics such as Jailbreak-as-a-Service highlights the democratisation of cyber threats, underscoring the need for startups to stay ahead of the curve. Recent technological developments mean that hostilities can now come from anywhere, which makes threat detection increasingly complex, particularly as we look ahead to the future.

Ransomware rendered by Malware-as-a-service is becoming more frequent – this is where a ransomware group or gang sells its ransomware code or malware to other hackers, who then use it to carry out their own ransomware attacks. This sort of activity makes it considerably easier for less sophisticated actors to attack businesses independently. 

With the commodification of deepfake services, cybercriminals can easily bypass security measures, leading to devastating consequences such as financial loss and reputational damage. The now infamous case of the Hong Kong finance worker who transferred US$25 million to a fake CFO serves as a cautionary tale to organisations to be more vigilant in the new landscape.

Also Read: From grid to code: Why good cybersecurity will help deliver net zero

High-profile individuals tend to be more prone to spoofing, while government and financial institutions are more attractive targets of ransomware for the amount of sensitive information they hold.

AI model theft and misuse

The potential theft or unauthorised access to AI models developed by startups is another rising issue that will continue to proliferate as more tech startups come onto the scene with proprietary AI solutions over the next couple of years. Stolen models could be misused for malicious purposes or replicated by competitors, leading to intellectual property theft.

Techniques like model extraction attacks pose such a risk, where an adversary prompts the chatbot to divulge information that allows it to recreate its model. Model inversion techniques that enable output data to be used to reconstruct sensitive input data are also gaining ground.

The data is then exposed to further misuse. Adversarial attacks are another form of model misuse that is increasing in prominence, too – they aim to manipulate the model’s inputs to generate incorrect outputs, undermining its reliability and integrity.

AI supply chain attacks

The complex AI supply chain, involving data sourcing, model training, and deployment, presents multiple attack vectors that startups must secure. But this doesn’t only apply to AI software in general, which is experiencing more supply chain attacks.

Bad actors increasingly see software, developer infrastructure and third-party providers as entry vectors into governments and corporations. This is a threat that will only proliferate as organisations continue to integrate AI into their infrastructures.

Cybercriminals will look to attack AI supply chains via a variety of methods, including data poisoning attacks, which involve injecting malicious data into training datasets to compromise the model’s performance and introduce vulnerabilities. Meanwhile, model skewing attacks manipulate the training process to introduce targeted biases, backdoors, or other vulnerabilities into the AI model. 

The expanded requirements and capabilities of data protection and data governance 

To mitigate these risks, startups should implement robust data governance practices, invest in explainable AI technologies, as well as conduct regular audits for bias and fairness to maintain human oversight in critical decision-making processes involving AI. Collaboration with security experts and staying updated on the latest AI threats and best practices is also essential.

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

Organisations must adopt a comprehensive approach to data governance, especially when adopting AI to process personal information. In practice, this requires a layered strategy accompanied by accountable data handling practices by humans. With many tech startups seeking to roll out their own AI solutions, adopting a privacy-by-design approach where privacy considerations are integrated into every stage of the development and operation of a system is expected.

Proactive threat intelligence, conducting robust third-party due diligence, and implementing stringent data protection and encryption protocols are valuable precautions. Startups that collect, use, process or disclose personal data with Gen AI, may consider adopting Privacy Enhancing Technologies (PETs) that enable data analysis without compromising personal information, such as differential privacy, federated learning, and homomorphic encryption.

As many technological controls one can take, human error is still one of the key causes of high-profile data breaches, especially in rapidly growing startups. As such, educating employees and executives on data handling best practices and the risks of AI is crucial. 

Educated leaders and staff training are essential in the age of AI

Effective data handling and security, especially when leveraging AI as part of your product or services, hinges on a well-informed workforce that is not limited to IT professionals. Staff training programmes tailored to individual roles and responsibilities should be carried out, including realistic simulations that provide practical experience in handling cyber threats.

There are also internationally recognised courses that integrate data governance, generative AI and privacy security, suited for CTOs and IT personnel in tech startups looking to forward their venture. The International Association of Privacy Professionals’ (IAPP) Certified Privacy Information Technologist (CIPT) course imparts techniques to manage cybersecurity risks while enabling prudent data use for business purposes.

Continuous vigilance and accountability are paramount to strengthening organisational resilience against social engineering tactics and human error-induced breaches. With the right knowledge and training, leaders and employees will be better equipped to successfully implement best practices and processes early in your startup’s stage of growth so that you can sustainably adapt to evolving regulations and business growth.

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Venture debt is a form of financing specifically designed for, more often than not, venture-backed startups. It is typically offered as a supplement to equity financing and is aimed at providing companies with additional runway or funding for specific needs. This financing method has gained popularity in Singapore and Southeast Asia’s startups in recent years because it allows startups to secure funds without significant equity dilution.

Some features of venture debt

• Unlike equity financing, venture debt involves little to no dilution of ownership. Lenders may require warrants (options to purchase company stock at a set price), but this typically results in less than one per cent dilution.
• Lenders often require collateral in the form of company assets, such as intellectual property, accounts receivable, or other tangible assets.
• Venture debt agreements may include financial or operational covenants, such as maintaining a minimum cash balance or meeting revenue targets. Non-compliance with these covenants can lead to default.

When to consider venture debt

• Strong revenue growth: Startups with measurable and consistent revenue growth are more likely to secure venture debt.
• Market adoption: Evidence of a strong product-market fit, such as increasing sales, customer base expansion, or recurring revenue, are things that lenders look at.
• Unit economics: Lenders may look for signs of positive unit economics or a clear path to profitability.

Also Read: The ethical dilemma of dynamic pricing in online retail

Key differences between venture debt and traditional loans

• Repayment terms: Venture debt repayment typically starts within 12 months of drawing down the funds and with principal payments over 3–4 years. Traditional loans may have shorter or longer repayment terms depending on the loan type and lender.
• Cost: Venture debt can be considered a hybrid between equity investment and loans. Lenders factor in the potential upside and offer a lower interest rate upfront. However, the long-term cost may be higher as your equity could be worth a lot more.
• Covenants: Venture debt has financial or operational covenants, as mentioned above whereas a loan has none.
• Stage/sector: Venture debt is often only available to tech startups and depending on the lender, at times further restricted to high-growth sectors or startups that are profitable. For loans, one can almost always find a lender for your company’s stage and sector, so long as you can demonstrate the ability to repay it.

Conclusion

Venture debt can be a powerful tool for startups looking to extend their financial runway without diluting equity. However, its suitability depends on the company’s specific needs, growth stage, and ability to handle repayment. Founders should carefully evaluate their financial position, consult with their existing investors or engage experts to ensure they secure the most favourable terms.

You can also read The Entrepreneur’s Dilemma: Fundraising or Taking a Loan? if you would like to compare VC investment versa taking a loan.

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Dear reader,

The long-rumoured Grab-GoTo merger is back in the spotlight, and this time, the deal seems more plausible. Reports suggest Grab is considering an all-share acquisition of GoTo at a valuation exceeding US$7 billion—offering a 20% premium over its pre-rumour market price.

Several factors strengthen the case for a merger. Grab’s stock has surged 45% in the past year, while GoTo’s has stagnated, making an all-share deal attractive. Additionally, some GoTo investors, including SoftBank, may be eager for an exit amid Indonesia’s illiquid market. A merger would also unlock synergies—Maybank estimates annual efficiency gains of up to US$209 million from improved driver utilisation and reduced costs.

Regulatory scrutiny remains a hurdle, as Indonesian authorities have previously raised concerns over monopolistic practices. However, the recent approval of TikTok Shop’s acquisition of Tokopedia suggests flexibility if economic benefits align with national interests. If Grab commits to further investment in Indonesia, regulatory concerns could be mitigated.

If realised, this merger would reshape Southeast Asia’s ride-hailing and food delivery landscape. And at the very least, it might put an end to the recurring “Groundhog Day” of Grab-GoTo deal speculation.

Sainul,
Editor.

NEWS & VIEWS

Grab-GoTo deal buzz returns: why it might be real this time
The deal might value GoTo at more than US$7B | One option being discussed is an all-share purchase, which would value GoTo at over US$0.006 per share, a premium of about 20% over its value before news of the potential deal broke.

Maybank foresees positive synergy from potential Grab-Gojek merger
The merger in the on-demand services will positively impact GoJek’s operations as it will end the marketing war and make capex/opex more efficient |A potential tie-up could result in a near-monopolistic presence in Indonesia with 80-90% market share.

SEEDS Capital and partners to inject US$222M into Singapore’s deeptech startups
This initiative, under the Startup SG Equity scheme, will see SEEDS Capital allocate US$111M over the next three years, with the aim of catalysing an additional US$222M through its private sector partners.

eFishery faces restructuring after fraud allegations
An internal investigation claims eFishery inflated its revenue by approximately US$600M in the first nine months of 2024, representing over 75% of its reported revenue.

Cake Group’s Bake shuts down in Singapore after buyout
This comes after the platform was transferred to new management | Cake Group sold Bake to fintech-focused GSTechnologies Ltd. last month, according to a statement issued by the London Stock Exchange on January 2, 2025.

SoftBank nears US$6.5B deal to acquire chipmaker Ampere
Ampere, which receives backing from Oracle and Carlyle Group, specialises in creating processors for data centres that use Arm’s technology | An announcement about the transaction may occur within the next few weeks.

Sika acquires Singapore’s green roof provider Elmich
The acquisition complements Sika’s roofing portfolio in the region and strengthens its specification business for commercial and residential projects |With this acquisition, Sika is gaining a new platform for growth in the Asia/Pacific region.

MUFG unit buys 49% stake in Carsome
This collaboration aims to improve auto financing solutions in Malaysia, particularly for underserved segments | There will be an emphasis on enhancing risk assessments and credit governance for financial sustainability.

Syfe to acquire Australia’s Selfwealth for US$40M to expand investment offerings
The acquisition will significantly expand Syfe’s Australian footprint by incorporating Selfwealth’s platform, which will continue operating as usual, with enhancements over time, benefiting from the former’s technology and scale.

Blockchain recovery in SEA: US$592M raised in 2024, up 45% from 2023
Singapore led the region in blockchain funding, with startups raising US$483M; Hanoi and Kuala Lumpur followed, raising US$18M and US$12M, respectively.

Digital payments drive Asia’s fintech to US$19T, nearly half of global market
Digital payments and transfers are the primary drivers of growth of fintech, contributing 40%, followed by digital commerce (21%) and digital banking (32.9%).

KMP invests in Swift Bridge to boost Malaysia’s semiconductor, RF industries
The funding will enable Swift Bridge Technologies to acquire advanced testing equipment for developing RF cables exceeding 110GHz, expand its product range to include high-frequency RF cables up to 145GHz and enhance low-frequency cable solutions.

SEA’s tech funding skyrockets in January, shattering previous records
This funding injection marks a remarkable 291% increase compared to December 2024 and an impressive 230.5% rise from January 2024.

Only 26% of Indonesian organisations implement AI: Report
For markets like Indonesia, addressing regulatory uncertainties and workforce development could be key enablers for AI growth | Singapore stands out as a leader, with 57% of large organisations having integrated AI into their operations.

Report: APAC demonstrates stronger cryptocurrency resilience, growth in 2024
Since the market downturn in December 2022, APAC has recorded a 6.4 per cent year-over-year (YoY) supply growth in cryptocurrency.

Nibertex secures funding to boost sustainable textile production
The investors include Foxmont Capital Partners and ADB Ventures | Nibertex eliminates the use of these harmful chemicals, significantly reducing environmental pollution and potential health hazards associated with traditional waterproof textiles.

FEATURES & INTERVIEWS

‘Lack of exit opportunities is a big challenge for SEA’s venture ecosystem’: Kadan Capital’s Rei Murakami
Japan’s capital market is significantly larger and deeper than SEA, providing potential IPO avenues for startups from the region, says the Kadan Capital founding partner.

e27 Startup Milestones: 10 inspiring achievements you need to know this week
We’re thrilled to spotlight ten startups that have recently shared their milestones using this feature.

2025 trends: Tech investment remains a priority for APAC business leaders, but regional disparities persist
APAC business leaders recognise the importance of digital transformation but may face constraints that prevent them from matching US levels.

High costs, space constraints make APAC markets ripe for automation: XSquare CEO
The Asia Pacific warehouse automation market is projected to grow from US$10.76B in 2023 to US$28.02B by 2029, at a CAGR of 17.3%.

FROM THE ARCHIVES

Love yourself and others: A playful guide to self-care in business
Cherish your team members and clients, but don’t forget to express your love through actions, not just words.

AI is not slowing demand for software developers in the Philippines
While AI is often perceived as a threat to human programmers, it is more accurate to view it as a productivity enhancer rather than a replacement.

Breaking barriers: Hidden hurdles faced by women entrepreneurs
By showcasing their skills, expertise, and successes, women entrepreneurs can challenge biases and change perceptions.

A paradigm shift needed: Hiring within the tech startup ecosystem
Embracing transformative change in hiring practices will undoubtedly pave the way for a prosperous future for tech startups.

How to embrace optimal efficiency in the future of work
Hybrid work modernisation is an organisation-wide transformation which seeks all hands on deck to establish new processes.

Empowering women at work: Pre-hiring stage is the key
The greatest push for gender equality at work starts from the very beginning of the funnel: even before the hiring stage.

The best New Year resolutions for startup founders: Offering ESOPs that actually work
I want to share key takeaways for founders who are thinking of designing competitive ESOPs in 2022 in order to attract and retain talent.

Equity, flexibility, recognition: The future of startup compensation in SEA
As startups in Southeast Asia navigate through bear market realities, rethinking compensation is more important than ever.

Bridging the gap: Merging tech expertise and entrepreneurship
As the world adapts to post-pandemic, we are witnessing the boom of two key areas of expertise, namely, tech and entrepreneurship.

Is blockchain the future of medicine in creating more secure healthcare?
Security breaches are so common in the healthcare industry. This is due to the lack of trust between cybersecurity experts and doctors.

Temu takes on Vietnam: The impact on domestic manufacturing and marketing
Explore Temu’s global expansion and its impact on Vietnam, highlighting opportunities and challenges for the local industry.

How to scale up your DTC game with payments
Those looking to grow their business must move fast and embrace new ways of operating, and payments is an integral part of the plan.

Why Singapore’s traditional sectors need a digital makeover
Starting on a digital transformation journey is like starting a good habit, it spills over to other areas and reinforces positive change.

THOUGHT LEADERSHIP

The new norm: Stabilising global risk sentiment in a volatile market
This week’s market trends show stabilisation amid volatility, driven by economic data, policy signals, and geopolitics.

AI productivity boom: SEA’s race to adapt in a rapidly evolving workplace
Future developments show the world is rapidly adapting to AI to tackle challenges, drive innovation, and boost global competitiveness.

Why great entrepreneurs obsess over recruitment and why you should too
If you’re a leader who believes recruitment should be left to a department, it’s time to rethink your role in attracting and nurturing talent.

Navigating the new financial terrain: From geopolitical shifts to crypto volatility
The growing complexity between traditional markets and digital assets demands a nuanced investment approach.

Empathy-first algorithms: The marriage of AI and human psychology in marketing
The future of marketing is about more than timing — it’s about understanding and responding to customers’ emotions with genuine empathy.

How electric luxury cars are reshaping the industry
In the future, I think the luxury automotive industry will keep changing as people’s needs and technology grow.

The post Ecosystem Roundup: Is Grab-GoTo merger imminent? | SEEDS Capital to inject US$222M into SG’s deeptech startups | eFishery faces restructuring appeared first on e27.