Southeast Asia is going through what might be termed a golden age of digital transformation and technology investment. A rising middle class and digital penetration have brought about a demographic and innovation boom. Southeast Asia’s growth market for tech investments has been red hot in recent years, as E-commerce and its ancillary sectors – payment and logistics – have exploded.

Apart from that mobility/transportation, artificial Intelligence, food-tech, enterprise solutions, and IT services have seen significant investment in recent years. For several years now, Singapore has been the standout story when it comes to entrepreneurship, capitalising on its banking and industrial base to create an unrivalled tech hub for startups in SEA.

Countries like Indonesia and Vietnam are catching up as they witness the renaissance of a new middle class fuelled by strong GDP growth. A noteworthy trend in these markets is the inflow of foreign money from Japanese, Chinese, Singaporean and South Korean VC funds which has influenced startup growth. Significantly, global leaders and technology innovators from the EU and US have expanded to the Asian market and launched their operations with a high rate of success.

Malaysia: a thriving startup tech ecosystem in Southeast Asia

Currently, the Malaysian tech startup ecosystem early-stage investments are powered largely by domestic capital and conglomerates. With all the right moves the country has been making as a key player in the ASEAN, they are able to compete with other global cities in terms of success.

Rising consumer spending and increasing interest from foreign investors are coming together with targeted government support programs, to create the perfect conditions for the development of large-scale innovation and technology hubs.

Malaysia is now displaying all the right indicators to point to a high growth trajectory. Malaysia’s GDP per capita ranks 2nd within the SEA region so it certainly represents a lucrative market for foreign investors.

Especially significant in a country where business and commercial activities are still mainly offline and traditional, Malaysia has improved its regulatory environment by establishing clear laws and regulations. These provide protection to businesses in areas like intellectual property rights hiring and contracts. Malaysia ranks second in ASEAN for ease of doing business.

Also read: The future of mobile: how did mobile apps fare in 2020?

The country can boast of a vast and versatile pool of potential talent, a valuable factor for tech startups and companies looking to attract talent. With English widely used in the country, it is not surprising that Malaysia has become the choice for several foreign entrants to establish their regional operations here.

Moreover, the pandemic has been a boost for digitalisation in the Islamic finance sector. In a post-COVID world where many banks are facing the pressure to digitise their offerings, the country has enormous potential as an emerging global Islamic fintech hub. As financial institutions shift out of the culture of doing technology in-house, Malaysia is poised to be the big gainer in this digitisation agenda.

Islamic banks and financial institutions looking to ally with fintech startups to develop new services are sure to find Malaysia a very attractive proposition. Thanks to the legacy of Islamic banking and regulatory environment, Malaysia’s $3Bn Islamic fintech market is set to expand exponentially with 25 Islamic fintech startups already operating in Malaysia.

MyStartup Hub (MSH) Programme as a catalyst for regional expansion

The Malaysian Global Innovation & Creativity Centre (MaGIC) is the country’s apex agency tasked with the discovery and development of technology startups and leverage Malaysia’s strong positioning in the regional ecosystem to foster a vibrant startup ecosystem in the country. Through various programmes they have since 2014 helped over 100,000 entrepreneurs.

The MyStartup Hub Programme (MSH) is envisioned as a soft-landing programme for startups from around the world who want to establish a business hub in Malaysia. Collaborating with Malaysian ministries and agencies, MyStartup Hub provides help in company incorporation, local talent acquisition, and market access.

Also read: Fundraising masterclass for founders with Founders Grindstone

High-value late-stage startups from anywhere in the world can establish a presence in Malaysia as a gateway to access ASEAN’s marketplace. As international markets open amidst the post-pandemic recovery, MSH has doubled its reach from last year. In 2021, MSH will assist 20 high-growth global startups with innovative technology looking to expand in and through Malaysia.

Selected start-ups undergo a structured 12-month programme where the business model is validated and they receive in-depth guidance on the business incorporation process, hands-on mentoring, local talent acquisition and access to the Malaysian market by facilitating meetings with local partners, suppliers, distributors and clients. MaGIC offers financial incentives to start-ups that fulfil the commitments under the MSH programme. The programme aims to support Malaysian talent secure employment at MSH startups.

How Malaysia’s diverse market makes it a conducive gateway to Southeast Asia

Malaysia is perfectly positioned as the most favourable entry point for global startups to get to know how to do business in the region. A cosmopolitan country where most people speak 3 or 4 languages — Malay, Chinese, Tamil, and English – Malaysia’s unique cultural mix represents a potentially lucrative market of tech-savvy consumers. Business-friendly regulations and processes make it easy to launch a company and thrive with skilled low-cost talent. Malaysia ranked 2nd among ASEAN nations in the 2019 WEF Global Competitiveness report.

High skill levels combined with digital economy growth are translating into higher disposable incomes in a country where access to digital devices is already higher than in Singapore. A highly educated workforce and youthful multicultural consumer demographic make it a great place to test and refine business models for the wider region.

Companies entering Malaysia get access to a ready-made network of business partners providing high-value business support services, and access to top-notch logistics and infrastructure. Easy access to Singapore and its financial resources is another reason why Malaysia is the right launchpad to the wider Southeast Asia market.

Also read: How this Taiwan-based company adds purpose to your purchase

With 650 million people spread across a vast geographical area, SEA is a challenging but highly attractive market for foreign unicorns and tech startups. Thanks to its size, digital penetration, rising income levels and stable business environment, Malaysia makes an ideal testbed to understand how they can succeed in SEA.

The Malaysian government signalled its intentions to build a digital economy and attract foreign investment with the establishment of the Malaysia Digital Economy Blueprint (MDEC) to lead the charge. Significant digitalisation goals have been set with large allocations announced in the latest budget. MDEC projects a 22.6% contribution to GDP by 2025, leading to 500,000 jobs created within the digital economy.

MyStartup Hub Programme 2020

The main objective of the programme is to empower participating startups with hands-on assistance with company establishment paperwork, hiring of talent, and local market access. This allows them to build a strong team for ASEAN operations, sales & marketing, R&D by employing strong local talents.

Priority areas for program selection are Smart Manufacturing, Smart Cities & Transportation solutions, as well as Healthtech, Education, Agritech, and Tourism innovators. The start-ups should have a clear ASEAN-focused growth plan and a track record of product development (MVP stage), performance (Above RM 1Mn annual revenue), and/or funding history.

The MyStartup Hub programme is opening its new cohort for global startups who are keen to explore the Malaysian market and expand regionally. Interested startups may visit the programme hub for more details.

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This article is produced by the e27 team, sponsored by 
MaGIC MyStartup Hub

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N&E Innovations, Intersnack Jon hands to convert cashew waste into an organic disinfectant

The story: Singapore-based medtech startup N&E Innovations has partnered with Intersnack Group, a savoury snacks producer in Europe, to create Vi Kang 99, an active compound synthesised from cashew waste.

Through this collaboration, N&E Innovations developed a cutting-edge technology which is able to effectively recycle cashew testa, the reddish-brown skin covering cashew kernels which are an abundant byproduct of the cashew processing industry. The active ingredient has been added to N&E Innovations’s face mask range, Vi-MASK, as well as its most recent organic disinfectant range, C2+.

How Vi Kang 99 works: Upon contact with oxygen and moisture in the air, Vi Kang 99 produces Reactive Oxygen Species (ROS), a reactive molecule that is naturally found in all living cells. The release of ROS damages proteins, DNA lipids and membranes of microorganisms including bacteria and viruses. This eventually leads to cell death, thereby destroying bacteria and viruses.

Also Read: Alt.Flex.Eat: Flexitarianism is the flavour of the SEAson

There are various types of ROS including singlet oxygen (1O2), hydrogen peroxide (H2O2), the superoxide anion (O2•−) and the hydroxyl radical (OH•). Each type of ROS has different targets and lifetime. In general, ROS acts to damage the cell membrane, enters the cell and further disrupts the proteins and DNA synthesis of the bacteria, thus leading to cell death (Fig

About N&E Innovations: Established in 2020, N&E was founded by Didi Gan with the intention to provide users with a safer alternative range of products that can be used by people of all ages. The startup identified the importance of sustainability and the harsh effects of chemicals as major pain points to eventually engineer its innovative molecular coating technology, Vi Kang

Orios Venture Partners closes US$30M Select Fund I

The story: India’s technology venture capital firm, Orios Venture Partners, has announced a final close of its Select Fund I. The funds have been raised from multiple family offices and institutions.

This is the third fund raised by Orios; it had earlier launched and closed two early-stage funds in 2015 and 2018.

Investment areas: New commerce, technology-led financial inclusion, new media, gaming, consumer and agritech amongst others.

Ticket size: Orios’s Select Fund I invests between US$4 million and US$8million per company. It primarily does follow-on investments into its existing companies, which have proven to be winners; and also late stage to pre-IPO companies whose founders it knows well.

Also Read: The pros and cons of signing on an angel investor for your startup

So far, the Fund has invested in Series D and E rounds of Pharmeasy which has now announced plans to launch its IPO in the next nine months, Series B and C rounds of Country Delight and the Series C round of GoMechanic.

It has also invested in Mobikwik’s recent round in March 2021 which has already seen follow-on investments at +40 per cent from Abu Dhabi Investment Authority ( ADIA); and the pre-IPO of Nazara technologies.

The firm’s portfolio companies also include gaming company Zupee, agritech company Krishify , digital health company Beato, retail tech company Gully Network, fintech company MoneyOnClick, and EV-battery-as-a-service company Battery Smart.

Pomelo launches brand solutions platform Prism.

The story: Pomelo, Southeast Asia’s leading omnichannel fashion platform, has announced the launch of Prism., total brand solutions to cater to the needs of brands across Southeast Asia.

What is Prism.?: It is an end-to-end total brand solutions platform that aims to provide total solutions for brands to scale their business. Prism. provides a wide range of brand-centred integrated solutions, from merchandising and trading, to 360 creative marketing tools, data analytics and insights, leading tech operations, and dedicated performance marketing.

Prism. offers brand-focused services that include dedicated omnichannel solutions including Tap.Try.Buy., Pomelo’s in-app online-to-offline shopping feature, as well as access to the brand’s e-commerce platform and physical stores in Thailand, Singapore, Indonesia, Malaysia and the Philippines.

Also Read: How Pomelo tackles the problem of high product return with its O2O retail experience

Furthermore, brands can benefit from the platform’s 360 marketing capabilities, incorporating branding consultation, a full-service creative studio for best in class content production, multi-channel social media content localised to their target audience, a wide influencer and KOL network, and data driven performance marketing solutions. Throughout its 8 years of service, Pomelo has built up a solid network of users and traffic, made up of female audiences that are passionate about fashion, a unique offering that brands can tap into for real brand growth.

The scope of Prism.’s offerings also extend to trading and merchandising, offering best-in-class design, manufacturing and fabric sourcing services. This will enable brands to get invaluable industry insight on trend forecasting, product development, technical design, sizing and production. Moreover, the platform’s tech capabilities allow brand personalization which permits optimal product discovery based on our proprietary machine learning, a resource that can help brands become more competitive in the online retail landscape.

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Image Credit: Orios Venture Partners

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We are in the best of times, and yet also, the worst of times. In the age of rapid digital innovation, we are reliving the narrative in Charles Dickens’ Tale of Two Cities. Some businesses thrive at unimaginable speed while some get eliminated completely. Many are caught in the in-between, struggling to stay afloat to keep up with the change of digital disruption.

Across industries, the wave of digital disruption has brought new technologies, new entrants, new customer experiences and new business models. In order to beat the disruption, one has to be the disruptor.

We see this narrative unfolding in the logistics sector. Technological revolution has accelerated change in an industry that is traditionally backward and least digitally exposed. It has enlarged the divide between the new and the old.

The reality is that the supply chain is not naturally a digital business, as concluded in the report by Janeiro Digital, The Modernisation Gap: Digital Innovation and Transformation in Supply Chain and Logistics.

Many, prior to the pandemic, have regarded digital tools as unnecessary expenses. In the container trucking industry, it is a typical sight to see drivers writing down the jobs that they had completed each day on a piece of paper. It is just how things have always been.

This has contributed to the common inefficiencies observed in the sector today that are leading to the wider problems of inefficient container routings, bottlenecks at ports, affecting cargo quality and resulting in security risk.

In these troubled times, the magnitude of a supply chain disruption is keenly felt. This was especially highlighted during the Suez Canal blockage causing congestion at ports and container shortages.

Also Read: Locad founder on building SEA’s first cloud logistics network in the midst of COVID-19

The ramifications were global, where everyone including retailers and producers was affected. Sadly, consumers have already begun to feel the pinch, as costs get passed down to them.

The benchmark food price index published by the United Nations’ Food and Agriculture Organisation (FAO) registered a sharp increase in May, averaging 127.1 points – the highest level in 10 years.

This is the result of a confluence of factors, including higher marine shipping costs and supply chain disruptions. Freight rates are expected to reach new highs this year given port congestion and equipment unavailability.

With the changing preferences of consumers driving a surge in demand, there is great potential for the shipping industry. According to Research and Markets, the global logistics market is estimated to grow to US$12.68 Billion by 2023 with a Compound Annual Growth Rate (CAGR) of 3.49 per cent between 2017 and 2023, with Asia as the top player in the global maritime trade arena. One key highlight is the boom in the logistics market in SEA region, with trade volumes expected to increase by 130 per cent in 2023 to US$5,653 billion.

With the increasing international trade and investment, the rapid growth of e-commerce and the improvement in infrastructure, the Southeast Asia region is an untapped gold mine within the logistics ecosystem.

Southeast Asia’s internet economy hits US$100 billion for the first time in 2019, and it is expected to grow to US$300 billion by 2025.

The 2020 Southeast Asia e-Conomy report by Google, Temasek and Bain & Co revealed that COVID-19 had led to an acceleration of digital consumption, with SEA economy exceeding USD$100 billion in gross merchandise volume (GMV) and e-commerce accounting more than 50 per cent.

Haulio has long seen the beauty of the interconnectedness in the supply-chain business. As Singapore’s fastest-growing cloud-based digital container haulage network, Haulio built on a multi-tenancy system to allow multiple customers or ‘tenants’ to share the same resources while being able to configure the application to fit their needs.

This new model of ‘sharing’ using digital capabilities allows their business to optimise the vast logistics network.

Using technology to optimise the usage of haulage trucks and drivers, Haulio problem-solves inefficiencies through their platform while also partnering with major logistics players and fintechs.

Strategic partnerships allow them to connect the most offline node to the rest of the supply chain, uplifting the lives of millions of haulers and drivers.

Also read: Challenging existing fundamentals in logistics and supply chain

Haulio’s collaboration with ESCO in Thailand, which operates one of the six inland container depots (ICD) at Lat Krabang (LKB) port, is a prime example of the transformation that digitalisation of the trucking ecosystem has brought.

In Thailand, freight transport via road is an integral part of the logistics network. To improve operational efficiency at ESCO’s terminal, Haulio’s landmark digital tool has helped assist the terminals to execute movement of more than 10,000 TEUs since Q2 2020.

Through Haulio, ESCO’s trucking partners can be tracked based on factors such as the speed of response to jobs, number of partner’s drivers online, new revenue stream jobs, hence allowing ESCO to measure terminal operational efficiency gains. To date, ESCO has seen an efficiency improvement of around 20 per cent with the administrative savings from improved operational efficiency.

Haulio’s success in Singapore, as well as this successful pilot with ESCO, further proves the value of Haulio’s solutions in bridging the gap between customers and their trucking partners, by bringing operational visibility to all parties.

While container haulage has always been the vertical that is left behind within the supply chain, Haulio’s solutions will be able to fulfil the potential for transformation within the first-mile container logistics space.

Haulio has plans to expand its footprint regionally, to complete the digitalisation of haulage in Southeast Asia by 2025, solving existing problems within the US$147 billion ‘First Mile Logistics Market’ in Southeast Asia.

Tech-driven operating models are able to tap on the underserved and uncontested opportunities in the various value levers. Tech-enabled logistics start-ups are using technologies such as data analytics and artificial intelligence to improve the efficiency of business operations and to serve niche markets.

Haulio believes in delivering value through technology. It is about building a culture of empowerment, starting from the digital connecting node of the Container Haulage vertical.

As the phrase goes, “Every Supply Chain is only as strong its weakest link”. The journey towards digital transformation would only be possible through the joint efforts of industry players.

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Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. This season we are seeking op-eds, analysis and articles on food tech and sustainability. Share your opinion and earn a byline by submitting a post.

Join our e27 Telegram group, FB community or like the e27 Facebook page

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June is internationally recognised as Global Pride Month. But beyond rainbow-coloured designs and virtual festivals to celebrate the LGBTQ movement, it is also a reminder to embrace diversity in the workplace.

There are several benefits to cultivating an inclusive, healthy workplace culture such as different perspectives to generate new ideas. Keep reading to find out how your team can discover and nurture new talent for more diverse and inclusive workplace culture.

Implement fair hiring and evaluation processes

Discovering new talent starts with recruitment and giving candidates a fair chance regardless of their gender, race, ethnicity, and religion. One way to achieve fairness at the interview stage is to ensure that the key hiring team is diverse. Alternatively, consider using an AI recruitment tool to remove human biases at this stage.

Also, it may be time to evaluate the onboarding training that new employees receive to ensure that they are well integrated into the organisation with clearly defined role expectations and fair practices.

Such recruitment protocols ensure that employees are introduced into the organisation’s mandate on fair inclusion from day one.

Empathetic leadership that prioritises trust

Studies have found that empathetic leadership has a direct impact on employee productivity, loyalty, and engagement. Empathetic leaders tend to intuitively pick up on their employees’ emotions, understand their perspectives, and take appropriate actions to make their team members feel accepted and validated.

Unlike traditional leadership styles which adopt a command-and-control protocol that alienates employees and stifles creativity, a leader with an empathetic nature can connect with employees.

Managers who trust their team can foster safe spaces for employees to perform their responsibilities. In turn, employees will feel more secure and motivated in their role.

Also Read: Building the rainbow bridge: How businesses can foster Diversity & Inclusion in the workplace

Essentially, as people are becoming more educated and mindful of their self-worth, they want to be valued for more than just a paycheck. Especially during a crisis, employees not only look towards their leaders for directions but also for assurance and confidence, which only an empathetic leader can provide.

Support and celebrate employees differences

In Singapore, most organisations exercise respect and tolerance for cultural and religious differences. Here are a few tips to make your employees feel more valued regardless of their background.

Offer floating holidays for employees from different religions or minority backgrounds that are not on the official public holiday calendar. While businesses already observe national public holidays, allowing employees the flexibility to take a day off on days that are important for their cultural background can certainly help them feel more appreciated.

Plan virtual group lunches to allow employees from different backgrounds to share their cultural practices. Such events can help to bridge differences and encourage more personal interaction between employees.

Highlight special dates from all cultures represented in the workplace through company newsletters or food items related to the festival.

Nurture talent to go beyond what is asked of them

Embracing diversity often means that employees have to go beyond the standard protocol to embrace the deeper meaning of their roles.

Much like what Starbucks did in 2018 when the coffee chain in North America closed 8,000 stores for racial bias training that cost the company an estimated S$26 million (US$19 million), the intention goes beyond establishing standard work processes to address unconscious bias issues.

Investing in training and nurturing allows employees to open up to more diverse views and ways of managing their work, hence cultivating a cohesive workplace that is characterised by harmony, productivity, and efficiency.

Of course, not every organisation has the budget to spend millions on training and development. Organising monthly workshops or wellness programmes that address gender identity, mental health, and common stereotypes can be just as effective.

Mindful communication and inclusion

Mindful communication is the key to bridging any gaps in inclusion. Consider getting a third-party perspective or employee feedback on how you can improve communication during team meetings. If someone brings a unique idea to the table, offering recognition can motivate others to participate more openly in the future.

Remember that exclusionary practices can often lead to lower productivity and can also affect problem-solving capabilities. As such, taking a deliberate effort to be an inclusive communicator, rather than playing favourites, is a necessary step to help the workplace thrive.

Creating a diverse and inclusive workplace culture that makes your team members feel valued and understood is essential to improve workplace culture. While you may need to invest some effort and finances into developing a system that works, the result will be well worth the time.

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Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. This season we are seeking op-eds, analysis and articles on food tech and sustainability. Share your opinion and earn a byline by submitting a post.

Join our e27 Telegram group, FB community or like the e27 Facebook page

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Vietnam-based loyalty platform Society Pass has acquired Leflair, a luxury e-commerce brand that filed for bankruptcy last year.

This news was first reported by TechInAsia.

Society Pass said the acquisition will “allow it to continue serving the ever-rising demand for online branded shopping in Vietnam”.

As per the deal, Society Pass will be relaunching the Leflair platform in the third quarter of this year, making some adjustments to ensure the benefits of suppliers and customers.

Founded in 2018, Society Pass is a platform that connects customers with merchants in South and Southeast Asia. Incorporated in the US, its app “SoPa” offers consumers shopping deals, services, and products from merchants through its Society Points that can be redeemed with any merchant on its platform.

Also Read: Afternoon News Roundup: Cash-strapped e-commerce firm Leflair files for bankruptcy in Vietnam

For businesses, it provides features like dedicated POS (point of sale) solutions, payment infrastructure, loyalty management, customer profile analytics, and SME financing packages to ensure that they can run their services smoothly.

On the other hand, Leflair was established three years before Society Pass and acted as an e-commerce platform for branded goods and flash sales. It did not operate as an online marketplace but worked directly with brands and official distributors in and outside Vietnam.

Leflair had to cease operations in 2020 after reporting debt of US$2 million. The added pressure of the pandemic on the luxury fashion market could have added its woes.

Things were not always as melacholic for the company as it had reported tens of millions of dollars of earnings in 2019. Additionally, it had raised nearly US$12 million in funding amount from investors like GShop, Belt Road Capital, and more.

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Taiwanese digital foodhall network 3 Square raises seed funding

The story: 3 Square, a digital foodhall network and virtual restaurant group, has raised an oversubscribed seed round of US$1.2 million.

Investors: Taiwanese department store chain Hanshin Department Store, foodtech VC firm Foodland Ventures, family offices and angels.

Plans: The funding will be used to scale the business in Taiwan and prepare for its entry into Southeast and North Asia.

About 3 Square: The startup was founded in 2020 by Victor J. Chow, previously an executive at food delivery platforms honestbee and foodpanda.

The startup provides tech-enabled, turnkey solutions that are both sustainable and profitable by maximising utilisation and revenue per square meter of kitchen spaces to create great tasting food.

3 Square provides an infrastructure and build a network of solutions where it is able to share and pool resources, learn from one another and grow together.

Also Read: PhillipCapital, PrimePartners, Fundnel commence trading private company shares on Hg Exchange

The company also has a virtual restaurant group with six in-house fully branded restaurant concepts available at launch. These menus are developed using big data and trend analysis with culinary design and consumer insights for the best foods that customers crave.

Hg Exchange graduates from fintech regulatory sandbox

The story: Hg Exchange (HGX), a private securities exchange formed by an alliance of leading capital market intermediaries, has graduated from the Monetary Authority of Singapore (MAS) Fintech Regulatory Sandbox with a Recognised Market Operator (RMO) license awarded by the MAS.

With this RMO license, HGX can now fully operate as Asia’s first member-driven private exchange to support the issuance and trading of both digital and non-digital capital market products.

New appointments: The exchange has also appointed Eric Neo Say Wei as President and promoted Willie Chang from Chief Operating Officer (COO) to Chief Executive Officer (CEO) to drive HGX’s business growth in Asia.

About Hg Exchange: Established by Fundnel, PhillipCapital, PrimePartners and Zilliqa, HGX is a member-driven private exchange. Powered by leading blockchain platform provider Zilliqa, HGX technology allows for digitised securities issuance and secondary trading of digital securities. Digital securities can also be fractionalised, allowing investors to transact securities at more accessible price points.

The goal of HGX is to provide an equitable trading platform by bringing operational transparency, fair competition, and cost-efficiency to the private capital markets.

India’s hygiene products firm raises funding from SG’s Quadria Capital

The story: Nobel Hygiene, an India-based manufacturer of disposable hygiene products, has raised an undisclosed amount in from Singapore-based PE firm Quadria Capital for a significant minority stake.

Also Read: Forward looking and flexible: How Singapore is setting the stage for digital asset innovation

About Nobel Hygiene: It is a manufacturer of disposable hygiene products in India. It manufactures products across adult (Friends), baby (Teddyy) and feminine disposable hygiene products.

Nobel also offers sanitary pad designed for women with heavy flow (RIO-Heavy Flow Pads).

Nobel Hygiene’s range of products are available on both offline and online platforms and are available across 200,000 retail outlets.

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Image Credit: 3 SQUARE

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Alt.Flex.Eat: Flexitarianism is the flavour of the SEAson; Why is Southeast Asia witnessing great growth? What is attracting global alt food startups and investors into this region?; A deep-dive into the region’s thriving sustainable food industry.

Indonesia e-commerce unicorn Bukalapak plans to go public in July; Bukalapak said it intends to offer “up to 25% of enlarged capital” but did not reveal details; Reuters had previously reported that the company was aiming to raise around US$800M, with a valuation of between US$4B and US$5B, citing sources.

With US$356M in funding so far this year, Indonesia’s wealthtech startups bask in the spotlight; Indonesia has doubled the total number of investors in its capital market since the pandemic began in Jan 2020; However, this is just a beginning; With 5.4M registered investors, its capital market penetration stands at a mere 2%.

Kredivo scores US$100M more in debt funding from Victory Park Capital Advisors; The capital will be used to fund consumer loans for Kredivo’s borrowers in Indonesia; Last November, Kredivo raised US$100M from the US-based firm.

Goldbell Investments in talks to launch US$60M Asia-focused venture fund by next year; Titled Cube3 Ventures, the fund plans to invest mainly in startups operating in smart mobility, automotive, logistics sectors; It plans to pump in capital in the range of US$500K to US$2M in pre-seed to Series A.

Vertex Growth secures US$15M from Korea Venture Investment’s Foreign VC Investment Fund initiative; It will invest in Korea’s home-grown startups, as well as foreign businesses owned by Korean founders with disruptive and scalable products; According to its latest report, Vertex has identified Japan and Korea as key markets that are set to gain global prominence.

Society Pass acquires Leflair to relaunch it in Q3; Leflair was a fashion e-commerce startup, which was closed down last year due to a capital crunch and operational issues despite raising nearly US$12M; When Leflair filed for bankruptcy last year, it was confronted with suppliers who said that the startup still owned them a large sum in unpaid goods.

Circulate Capital hits US$14M first close of new climate-tech fund; Circulate Capital Disrupt will invest in deep technology solutions to combat plastic waste and advance the circular economy; Earlier, Circulate Capital launched a US$106M Ocean Fund.

Justika nets seed funding from East Ventures (lead), Skystar Capital; The platform connects people who need legal services to lawyers and other supporting services, such as company formation agents and translators; It focuses on three legal areas: family law, laws involving SMEs, and property law.

GrowSari raises Series B to help 30K small convenience stores in PH increase their earnings; Investors include Robinsons Retail Holdings, JG Digital Equity Ventures, Tencent, and Wavemaker Partners; GrowSari aims to empower and transform 1M sari-sari stores by providing them with affordable products, e-business and financial assistance.

Gorilla Mobile’s blockchain-powered offerings are giving rival telcos a run for their money; By converting the unused roaming data into digital tokens, users can reuse them to purchase another data plan in a different city or country; The startup has already raised US$3M in seed capital and targets to close a US$5M Series A shortly.

How Doctor Anywhere stepped up to the COVID-19 challenge; During Circuit Breaker, most residents were uncomfortable with visiting the clinic, even if they were feeling unwell; This was an opportunity to demonstrate how Doctor Anywhere’s services complemented Singapore’s existing healthcare infrastructure.

Global early-stage VC Antler enters Vietnam; The Vietnam operations will be led by Erik Jonsson, former MD of Lazada; Antler plans to kick off the country’s programme later this year and invest in companies through its SEA fund.

Ex-Honestbee, Foodpanda exec’s new cloud kitchen startup banks 3 Square US$1.2M seed funding; Investors are Taiwanese local department store chain Hanshin and foodtech VC firm Foodland Ventures; 3 Square looks to help F&B operators by providing local businesses with cloud kitchen solutions, including digital food hall networks.

Singapore to increase spending on ICT to US$2.8B; The projected spending will go towards transforming the government’s digital services and digital infrastructure; SMEs will also get more opportunities; They will be able to participate in nearly 83% of these procurement contracts.

APAC businesses worry about slow economic growth, increased competition and employee safety, says study; With remote working likely to stay for now, 78% of those surveyed expected their company to increase reliance on it to meet business goals; Over the next 6 months, the top 3 technologies executives see their companies harnessing are AI and ML (52%), cloud computing (49%), and 5G (38%).

5 hottest healthtech startups in Singapore; They are Doctor Anywhere, Holmusk, EndoMaster, Doc Doc, and Docquity; The COVID-19 pandemic increased the adoption of healthtech in Singapore with limited access to doctors amidst lockdowns and movement restrictions; Experts believe that healthtech will become more relevant during the post-pandemic era because of its transformation to healthcare delivery.

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Do you make full use of the mobile subscription plan that you pay for, or are you simply paying extra for something that you have never used or will never use?

If you are someone who falls under the second category, a new telco startup in Singapore is here to change your ‘destiny’. This blockchain telco is urging you to take a closer look at its unique mobile package subscription model.

The two-year-old startup Gorilla Mobile has rolled out a service-on-demand model, called ‘SwitchBack’, which converts your unused data into redeemable non-expiring ‘Gorilla Go Tokens’. You can use these tokens to redeem other services like international direct dialling calls and travel roaming data.

Founded in 2019, Gorilla Mobile originally started as travel SIM card company that focused on business travellers who had plenty of unused travel roaming data.

The startup has already raised US$3 million in seed capital and targets to close a US$5 million Series A round shortly. The money will be used for developing its product roadmap and expanding into Malaysia, Thailand, and Vietnam in the first phase.

The telco startup intends to enter Indonesia, the Philippines, Japan, Korea, and Taiwan in the longer term.

In this interview with e27, Gorilla Mobile founder Xanne Leo talks about its business model, its marketing strategy and trends in the telecom sector.

How did you come up with the idea of SwitchBack for users?

The objective was to address the issue of unused travel roaming data for business travellers.

By converting the unused roaming data into digital tokens Gorilla GO, users can reuse them to purchase another data plan in a different city or country. This is perfect for business travellers who may have their trips cut short or those on multi-city business trips.

Also Read: Singapore’s new virtual telco Zero Mobile offers subscribers chance to use service for free

Think of Gorilla GO like a carnival coupon where you can use the coupon universally and interchangeably at any stall in the carnival. In our case, you can use Gorilla GO with any telco service across 61 countries.

What is Gorilla Mobile’s business model? Can you talk about the pricing?

Gorilla Mobile runs on a service-on-demand model, the first in Singapore. This model provides access to a full suite of services anytime without a contract, subscription fees, or activation charges. Users pay only for what they use, when they use it, ensuring a fair and modular way of using and paying for mobile services.

Right now, customers can sign up for Gorilla Mobile’s Switch25 Mobile plan at SG$25 (US$33) through the Gorilla Mobile website.

In the coming months, we will unveil new services including a global roaming travel data SIM Card, digital international direct dialling (IDD), and global office telephonic solutions.

What are the different marketing strategies you have taken to educate the market about your offerings?

We launched our Switch25 Mobile plan on 18 June 2021. In line with the launch, Gorilla Mobile has rolled out the #RethinkMobile campaign on its website, calling on Singaporeans to look at their mobile phone bills and examine their mobile package subscription and actual usage: what they are paying for versus what they actually use.

Low prices have always been the motto of many telco companies. Aside from providing tokens, what are some other reasons that users should subscribe to Gorilla Mobile?

Our service-on-demand model is the first in Singapore. This is one of the reasons why we stand out.

Other than this, telecommunications services are traditionally offered to users in a fragmented way and give a disjointed user experience. For example, we rely on an on-premise office telephony system for calls while at work and we switch to our mobile phones while on the go or at home.

The pandemic situation has changed all that for us; the partial work-from-home and work-from-outside arrangements have dramatically changed the way we communicate.

Many companies are removing on-premise telephony servers and equipment, switching to cloud-based unified communication solutions, and using a mix of communication tools like Zoom and Microsoft Teams with their mobile phones and softphones on laptops.

This change is definitely here to stay.

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Seeing this shift, Gorilla Mobile will be introducing our Digital Office Telephony services in our mobile app in Q4 this year. We are converging the cellular mobile network services and office telephony capabilities and digital IDD services in the mobile app and offering it as an all-in-one mobile communications solution.

More than an mobile virtual network operator, we see ourselves as a mobile communications service provider offering a full suite of digital mobile services and a unified experience for today’s PMETS and businesses.

What are the key trends you’re identifying in emerging markets around digital transformation and telcos?

Converging trends hold great promise for the next generation of digital financial inclusion.

There are various blockchain technology platforms reinventing finance for the mobile era and have created decentralised financial systems that are fair, safe, and universally accessible. Without mobile data and high-fidelity connectivity, this would not be possible.

Gorilla Mobile recognises data as an enabler for digital financial inclusion. We advocate for affordable seamless global mobile connectivity to drive mobile money access for one and all. It is a right for the common man to access basic financial services.

As of 2019, there were 1.04 billion registered mobile payment accounts and 37.1 billion transactions transacting approximately US$690 billion yearly across the globe. The market grew 20 per cent during 2019, and it is expected to maintain that positive trend over the coming years.

More value is circulating in the mobile money system. The total value in circulation has significantly surpassed the total value of outgoing transactions.

The common users of mobile are using it to make small transactions or just to send money to other users. The ‘micro’ transaction costs and the friendly process of using mobile money between users are some of the key factors that will help to maintain the growing demand for mobile money.

This growth and scale is a positive signal for the industry as it demonstrates higher levels of customer trust, greater relevance for users, and the capacity of mobile money to digitise an increasing amount of capital.

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Image Credit: Gorilla Mobile

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It is no secret that working at a startup means facing new challenges and surprises every day. And yet, nothing could have prepared us for the impact of COVID-19. When the pandemic hit, and Singapore went into a two-month nationwide lockdown, we knew it was the opportunity for us to step up to the challenge and contribute to the national effort.

Scaling up rapidly to deliver telehealth services to workers

Our first challenge came in supporting the health of 300,000 migrant workers, who were locked down in their dormitories during the circuit breaker (CB).

In early 2020, Doctor Anywhere started providing teleconsultation services, inclusive of same-day medication delivery, to migrant workers staying in dormitories. When the service was first introduced, demand was low as workers could visit a physical clinic or an on-site medical centre in their dormitory.

However, this changed when CB began.

“Initially, it had just been two of us doing the consultations on an ad hoc basis,” shares Dr Yang Guirong, Assistant Medical Director at Doctor Anywhere. “With the increased demand, we had to change our processes to sustainably serve all the workers. We assembled a team of 10 doctors to work on this almost full-time, along with a separate administrative team, and had multiple DA clinics to package and deliver their medication.”

Additionally, due to the type of mobile devices workers owned and connectivity issues, we had to tweak our service delivery. Instead of a video call over the Doctor Anywhere app, our doctors conducted their consultations over WhatsApp or phone calls.

Communicating over WhatsApp had a silver lining. Although most workers had a basic grasp of English, there was still a small language barrier between doctor and patient.

With conversations over text, the patients could rely on language translation apps or fellow workers who had a better command of English for translation.

Also Read: Morning News Roundup: Doctor Anywhere raises US$27M Series B funding led by Square Peg

Another group of workers who needed telehealth support were seafarers working onboard ships. Given the international climate then, these seafarers were facing challenges in flying back to their countries after completing their job assignments.

From June 2020, we partnered with MPA to issue “Fit-to-Fly” certificates to facilitate their return home. With these certificates, our seafarer friends were allowed to fly back to their countries and reunite with their family members.

Since this began in June 2020, we have served more than 1,400 seafarers.

Filling in the gaps in Singapore’s healthcare system during Circuit Breaker and beyond

During CB, most residents were uncomfortable with visiting the clinic, even if they were feeling unwell. This was an opportunity to demonstrate how Doctor Anywhere’s services complemented Singapore’s existing healthcare infrastructure.

Since the start of 2020, we started enhancing our service delivery by ensuring tech and security infrastructure were ready to scale. Most crucially, we installed additional safeguards to ensure patient confidentiality and privacy, as we continued to expand our services.

We also moved towards utilising API management software, as our services required us to process more than two million API calls each month. As traffic to the Doctor Anywhere app grew by 70 per cent during COVID-19, this proved key to ensuring a smooth user experience, despite the increased system load. It also freed up time from managing individual APIs so that we could focus on the real work of improving our product.

Doctor Anywhere utilises a multi-cloud data environment for data management. The breadth of our services meant that several data sources, such as physical and virtual consultation databases, had to be integrated for any useful user insights.

With the cloud data warehouse, fragmented data sources were seamlessly combined into a coherent representation of our users.

Harnessing the power of ML and AI, we could then delve deep into this data for an in-depth analysis of user behaviour. This enabled us to quickly identify services that needed to be improved, as well as new pain points that were emerging.

Also Read: Snap yourself using your smartphone, Nervotec app displays all your vital health signs within a minute

These data-driven insights were complemented with qualitative observations – whether through user surveys or conversations with partners. With this foundation, we were thus able to swiftly scale up and develop new features like online clinics, wellness subscription programmes, home-based health screening and vaccination packages, mobile doctor and nursing services, etc.

For example: During CB, we noticed an increase in consultations for stress-related issues, such as insomnia. This was unsurprising, given the intense stress brought on by the pandemic.

To investigate further, we conducted a user survey in June 2020, in which our users (particularly aged 18 to 34) shared that they were receptive to therapy over video-call for conditions such as stress, depression and anxiety.

This prompted us to launch the Mental Wellness module in October 2020, where users could seek support from licensed psychologists and counsellors discretely via video call. We also embarked on a unique marketing campaign, using relatable local anecdotes and engaging visuals to educate the public on mental health.

In addition to video consultations, Doctor Anywhere runs eight clinics around the island. We revamped our clinics for a better customer experience. This included overhauling hiring processes and refreshing operational procedures, such as our courier delivery system.

“A memorable incident was the move of one of our medication operations to a new, more suitable location. It had to be done overnight to avoid impacting existing operations in the day. About 10 of us started at 9 PM and we only finished at 8 AM, the next day. Right after that, we began our 24/7 medication delivery services!” reminisces Dr Yang, who spearheaded this project. “It certainly was challenging but was definitely worth it.”

The result: by early 2021, we could offer round-the-clock telehealth consultations, with a three-hour medication delivery time throughout the year.

In addition to our clinics, we also have a mobile medical team that carries out home-based services. This includes health screenings, vaccinations and home nursing services. Time-saving and convenient, the biggest benefit of these services is that it cuts down on unnecessary trips to the clinic or hospital for our users.

Raising the health literacy of Singaporeans

As we know, the adage “If you build it, they will come” has been disproven many times. Similarly, while our services were ready, we knew it was important to build greater consumer confidence and trust in telehealth.

Also Read: These later stage funding rounds had made March an even more exciting month

Even in early 2020, telehealth was still a new concept to most Singaporeans. As such, alongside the scaling up of our services, we concentrated on specific offline and online marketing campaigns, to highlight conditions and use cases where telemedicine is useful. Most poignantly, the convenience to see a doctor for acute and non-critical conditions without going into a clinic was a key benefit during CB.

This was particularly helpful for patients with stabilised chronic health conditions. These patients required regular doctor consultations to check on their health status and refill their medication prescriptions. Yet, during CB, many were hesitant to physically visit a doctor.

The DA app allowed these patients to fulfil their routine health check-ups with a doctor and refill their medication, with same-day delivery. This empowered patients to remain in control of their medical conditions, while also allaying their fears of physical doctor visits. As a testament to the value of our services, we saw a multiple-times increase in consultations from patients with chronic conditions during this period.

Building on our growth for the future

The COVID-19 pandemic continues to challenge us to be more agile and adaptable in our operations while keeping our users at the heart of what we do. What has been key to our efforts is the selflessness of our team, who step in to cover for each other whenever we need an extra pair of hands.

Since 2020, we have seen a five times growth in the usage of Doctor Anywhere’s services. We expect that as more Singaporeans grow accustomed to telehealth services and recognise the convenience that it brings, the usage of digital healthcare platforms will gradually become a more ingrained lifestyle habit.

Beyond Singapore, Doctor Anywhere also has a regional presence in Malaysia, Thailand, Vietnam and the Philippines. COVID-19 has accelerated the adoption of telehealth in the healthcare ecosystem, by about five years by our estimate.

Also Read: How technology can influence the beauty and cosmetics industry

As each market faces its own unique challenges in navigating through the pandemic, it is critical that our teams keep a close ear on the ground, and continue to innovate and refine our products to meet each market’s needs. Establishing regional tech hubs in Singapore, Vietnam, and India in early 2021 is one strategic move to ensure that DA continues to scale and develop innovative solutions effectively.

“Our mission is to be the largest tech-enabled omnichannel healthcare provider in Southeast Asia,” says Wai Mun Lim, founder and CEO of Doctor Anywhere. “Tech-enabling offline businesses are also a key component of our strategy. This is also how we differentiate ourselves from competitors, and one of the key reasons our investors invested in us.”

More than just a medical app that connects patients to doctors, Doctor Anywhere is evolving to become an integral lifestyle platform. We blur the lines between traditional healthcare and alternative wellness solutions, to offer holistic, 360-degree health and wellness support to our users at every stage of their lives.

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Image Credit: Doctor Anywhere

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GrowSari, a tech-enabled B2B platform that helps small convenient stores (known as ‘sari-sari-stores’ in the Philippines, has raised an undisclosed amount in Series B financing round from a group of existing and new investors.

They include Robinsons Retail Holdings, JG Digital Equity Ventures, and Wavemaker Partners, besides Tencent, Pavilion Capital, International Finance Corporation, ICCP SBI Venture Partners, and Saison Capital.

This round brings GrowSari’s total funds raised to date to over US$30 million.

With the fresh capital, the company plans to bankroll its geographical expansion plans to reach 300,000 stores across the Philippines.

Unlike Singapore and the US, where there are fully air-conditioned round-the-clock departmental stores like 7-Eleven, the Philippines has sari-sari stores.

Sari-sari stores occupy an important economic and social location in the Filipino community. They are small convenience stores that are generally either family-run or privately-owned, operating within the shopkeeper’s residence.

Founded in 2016, GrowSari is on a mission to help sari-sari store owners transform into comprehensive service hubs for the nation’s grassroots communities.

Also Read: B2B e-commerce in Asia is increasingly successful. Here’s what we can learn from them

GrowSari aims to tap into the sari-sari stores’ potential to be the biggest and most accessible distribution channel in the Philippines by driving efficiencies in route planning while collecting valuable insights on store behavior.

Through its app, sari-sari stores can access better pricing for more than a thousand fast-moving sari-sari store stock-keeping units (SKUs) from the largest brands across all the major FMCG categories.

This is in addition to microfinancing support and assistance, and multiple e-services including telco, bills payment, and remittance.

“GrowSari aims to empower and significantly increase the earnings of sari-sari stores in the Philippines by providing direct access to a wide assortment of affordable products, e-businesses, and financial assistance,” GrowSari co-founder ER Rollan said.

“Through GrowSari, we want to use proprietary technology to accelerate financial health for Filipino sari-sari store owners, helping them to use, protect, and grow their business in the long run and transforming sari-sari stores into comprehensive service hubs for the Philippines’ grassroots communities,” added CTO Siddhartha Kongara.

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Image Credit: Lance Lozano

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