In the last decade, the world has witnessed a paradigm shift in grocery shopping, with a big push on digital engagement. In 2010, there was hardly an online grocery startup, and even, the customers won’t place their trust in buying groceries digitally.

With increasing mobile penetration, trust in e-commerce, and improved comfort needs, online grocery shopping picked up the speed steadily, and its market value gets doubled from 2016 to 2018.

Now, online grocery startups account for 40 per cent of total e-commerce funding in India that amounts to nearly US$665.70 million.

The research has projected that India’s online food and grocery retail is likely to touch US$10.5 billion by 2023.

The recent corona outbreak has made it come true with the tremendous growth in mobile grocery apps download such as Instacart, Walmart, Shipt, and others, and the sales.

There is a sad story behind e-grocery shopping

The people who are sitting at home and trying to buy the grocery online, they are constantly struggling to find a delivery slot even for the essential items. That’s why people resorted to the Kirana store (mom-and-pop shops) in the next lane to meet the grocery needs. This time the power of small stores is realised, and established players started making the mom and pop stores a part of the digital network.

However, the commercial biggie Reliance identified the opportunity in 2017 and piloted the Jiomart project. The new venture lies at the intersection of data and technology capabilities of telecom business Jio and B2B cash-and-carry infrastructure.

Harnessing the power of Reliance’s two consumer-facing businesses, the new grocery shopping e-commerce platform was launched in the suburbs of Mumbai in January 2019.

The POS machines with integrated billing applications are provided to the registered small stores that enable transactions, promotions, and supply chain management.

Also Read: E-commerce trends: What to expect in 2020

As Asia’s richest man and owner of Jio, Mukesh Ambani’s strategy is to build a new homegrown venture that helps small retailers to grow and increase sales while maintaining social distancing. After a couple of days, when Reliance allowed the Kirana stores to sign up and started taking orders on WhatsApp, Amazon plunges into the race with a plan of partnering with Kirana stores and allowed them to register and start selling the products through Amazon.

The attempt of grabbing a pie of Kirana shops has brought gala changes in the online grocery shopping space. With continuous changes, post-COVID-19 outbreak, a lot is expected to come with breaking news. Meanwhile, take a glance at how daily grocery shopping habits will get transformed.

Creating and managing the Kirana store’s chain

At RIL’s 42nd Annual General Meeting Ambani said that 30 million neighbourhood stores, which are nearly 90 per cent of India’s retail sector are unorganised, which will be connected through technology. It will empower and enrich the small retailers who have suffered a ton post-online purchase has become a norm. The Kirana store already has an army of loyal customers in the vicinity, which alleviates the need to build a network of courier services from scratch.

Connecting Kirana store’s to customers

The COVID-19 crisis has helped people testing the power of small stores when the commercial biggies are not able to deliver the essentials on-time even after investing billions of dollars to ramp up the e-grocery strategy.

This opportunity is spotted by reliance quite earlier, the Facebook deal has not only helped in creating a digital platform, and making the partnership with India’s largest retailers but getting access to a large user base of WhatsApp, that’s around 400 million users.

When the customers sign up with Jiomart, they need to add WhatsApp number on the Jiomart platform from where they can order through WhatsApp chat. Once, the order is placed, it’s redirected to local Kirana stores to complete the order as last-mile delivery.

Grocery shopping through WhatsApp

The orders which can be collected by the customers or delivered by the Kirana shops are not restricted to cash payment; instead POS machines are provided to encourage Kirana stores to manage the inventory and payment.

However, WhatsApp is also testing its payment service. WhatsApp Pay in India and waiting for the approval from the government to roll out the payment system, which will benefit Jiomart as ordering and payment system will be taken care of by WhatsApp.

Track customer’s behaviour

It’s expected that a mini-app concept will exist under the Jiomart platform where both Reliance and Facebook will have access to the customer’s data, which can be utilised to target the users accordingly. Facebook giant already had rich experience in monetising the data through advertising, which will help Jiomart in targeted advertising and grow the revenue by manifolds.

Furthermore, Credit Suisse said, the partnership between Reliance and Facebook that begins with grocery will later extend to medicine, fashion, food delivery, and lifestyle, which will further improve the chances of cross-targeting and selling.

On an ending note, the Jiomart initiative will bring local stores to the fore, reinvent the grocery shopping with WhatsApp, and targeted advertising will change the way people shop online and offline. The online to offline model is projected to gain momentum, but quality lapse and lower prices may pops-up the issues in the future, which Reliance should take care of proactively.

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Wiz.ai, a Singapore-based Artificial Intelligence startup, announced today the closing of its pre-Series A funding worth US$6 million, led by GGV Capital.

Wavemaker Partners, ZWC partner, Insignia Ventures, and Orion Fund (managed by K3 Ventures) also joined the round.

The money will be used to expand Wiz.ai’s product offerings and grow its team in Southeast Asia. It also plans to expand its geographical coverage globally.

Also Read: Payment network Thunes closes US$10M Series A led by GGV Capital

Established in 2019, Wiz.ai is focussed on facilitating conversational AI for ASEAN languages. The firm has deployed its in-house, proprietary, conversational AI technologies into large corporations throughout Southeast Asia.

According to Wiz.ai CEO and Co-founder Jennifer Zhang, through improved AI chatbot technologies, conversational AI will revolutionise call centre functions and improve customer engagements cost-effectively.

“Deploying these technologies in businesses across Southeast Asia requires a deep understanding of the local culture and business landscape, so we continue to bring in talents from the region to our diverse team of experts in conversational AI,” said Zhang.

Besides Singapore, the startup also has offices in China and Jakarta with a team of scientists, researchers, linguists, and dialogue designers.

How Wiz.ai overcomes the challenges of enterprise digitisation in customer engagement

According to Wiz.ai, the key challenge of enterprise digitisation is effectively capturing and processing insights from tele-conversation interactions with customers. Wiz seeks to help its customers cut costs while improving service levels with personalised inbound and outbound calls.

The human-like front-end of Wiz.ai’s proprietary talkbot encourages customers to convey more in conversations.

At the same time, the back-end sifts through the data in real-time and stores insights from the conversations into the enterprises’ existing CRM to enable analysis at both the granular and aggregated level.

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Picture Credit: GGV Capital

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Singapore’s heartland shops launch new initiatives to go digital

Government agency Enterprise Singapore has joined hands with the Infocomm Media Development Authority (IDMA) and the Heartland Enterprise Centre, Singapore (HECS), to launch an initiative to ‘digitise’ mom-and-pop stores in the city-state.

Ten precincts in the country will be a testbed for the initiative, which was rolled out this week.

The initiative will partner local “mom and pop” stores with tech firms ConntectUpz, Dei, and Fave to help them get online as soon as possible.

Starting with Ang Mo Kio, Bedok, and Clementi in Singapore, the initiative aims to reach around 400 merchants, as reported by The Straits Times.

The initiative will implement a range of ready-to-use solutions, including loyalty programmes and payment methods, as well as online sales channels, depending on their stage of digitisation.

Element AI launched two AI collaborations in Asia Pacific

Element AI has launched new Artificial Intelligence collaborations with a South Korean investment advisory company and a Veritas consortium based in Singapore.

Element will integrate its AI tech with the investment advisory firm Shinhan AI’s platform Neo. It is aimed at simplifying and accelerating application and forecasting decisions for its index tracker with a new market prediction model.

Also Read: Canadian startup Element AI to support AI Singapore in its Smart Nation initiatives

According to a report by Beta Kit, Shinhan Financial Group was one of Element AI’s first partners and that the two had signed a memorandum of understanding in May 2019.

Element AI’s second collaboration is with the Veritas Consortium led by the Monetary Authority of Singapore (MAS), which will look at Element AI assisting in developing a framework for driving the responsible adoption of AI in the financial services industry.

Element AI will take part in research and development activities aimed to support the consortium’s mandate for AI adoption.

Two traditional kiosks empowerment initiatives join forces to help guard Indonesia’s micro-economy

Mitra Bukalapak and GrabKios, two of the largest digital platforms that empower traditional kiosks/stalls in Indonesia, have announced a strategic partnership for provisioning and distribution of digital products in more than 5 million kiosks and agents located throughout Indonesia.

Through this collaboration, GrabKios will provide digital products on the Mitra Bukalapak platform, which can be sold by kiosk owners and agents to their customers to continue earning income amidst the pandemic.

By helping them sustain their incomes as demand for other products drops, both companies hope to safeguard economic stability at grassroots level, especially for warung kiosk owners whose income is affected during the implementation of Large Scale Social Restrictions (PSBB) in several regions.

Teddy Oetomo, Chief Strategy Officer Bukalapak, explained, “Strengthening economy at kiosk level has a fairly extensive ripple effect. Warung’s presence in the society is deemed essential to help fulfill the needs of the local residence, while the revenue generated would be used to meet their own family’s basic necessities. At the same time, stabilising the economy at micro-level also means contributing to the country’s economic resilience. So, increasing their productivity and well- being can go a long way.”

Also Read: Kudo becomes GrabKios, marking new offers aimed at larger kiosk’s digitisation

The strategic collaboration is expected to increase the capability of nearly 5 million traditional kiosks and Bukalapak agents as well as bringing impacts to the society.

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Xeraya Capital invests in US-based biotech firm Greenlight

American biotech company Greenlight Biosciences, which focuses on the sustainable production of chemicals and fuels, has raised US$17 million from Malaysia’s PE firm Xeraya Capital, Baird Capital and Flu Lab, according to DealstreetAsia.

Also Read: Going big? Then Go e27 Pro.

The startup will use the new capital to enable the production of COVID-19 vaccine using bioprocessing technology.

“It’s an investment towards the world having access to an affordable Covid-19 vaccine. A bet that mRNA will play an important part in human vaccines,” said Fares Zahir CEO of Xeraya Capital.

FairPrice, WhyQ launch food delivery platform at zero commission to support smaller F&B biz

FairPrice Group and food delivery startup WhyQ have partnered to launch a commission-free food delivery platform for vendors, according to ChannelNewsAsia.

Members who sign up on the platform will not be required to pay any commission or set up fee. However, there will be a “6 per cent markup on food price will be used to offset payment gateway and server costs for the platform”, the company said.

“While larger and more tech-savvy food businesses transited to delivery platforms, smaller food establishments struggled to keep up,” FairPrice and WhyQ said in a joint statement.

“These smaller food establishments faced more difficulties in accessing digital platforms due to high commission fees, manpower considerations, and a perception that it is difficult to incorporate technology into their business,” read the statement.

MDEC predicts online business trend will continue post-COVID-19

The Malaysia Digital Economy Corporation (MDEC) has predicted that changes in the behaviour of consumers and local traders from traditional to digital mediums will continue after COVID-19, according to MalayMail.

“The main players in the e-commerce sector would leverage on the digital capability to increase their presence offline, and thereby further expanding their e-commerce ecosystem,” said MDEC CEO Surina Shukri.

“Digital transformation will move fast. Businesses, meanwhile, have taken proactive steps to participate in e-commerce to survive,” she added.

MDEC has also started the eUsahawan programme, which trains SMEs to grow and improve their digital skills. The agency claims that it has trained more than 330,000 micro-entrepreneurs till 2019.

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Image Credit: Getty Images

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Voiz FM, an audiobook and podcast startup, announced today that it raised an undisclosed seed funding from 500 Startups Vietnam.

The Vietnamese startup will spend the money on product development and market expansion.

“Our product roadmap includes the launch of a recommendation algorithm in early July and an AI Voice functionality, which will allow users to choose their preferred voices for all titles, in October this year,” said Thai Tran, Co-founder and CEO of Voiz FM.

Voiz FM was launched in late 2019 by three entrepreneurs with the goal of capitalising on opportunities in the emerging audio media space.

Starting off with an audiobook, Voiz FM ensures that it has attained legitimate copyrights for the published contents and filter the noise in the country’s online piracy industry.

In recent months globally, the platform has seen twice the growth in its user base, as there’s a surge in demand due to coronavirus quarantine.

Taking a long-term approach has resulted in exclusive publishing rights for more than 1,000 best-selling titles on the platform in the 6-month span.

It also partners with top tier publishers in Vietnam, including First News, Kim Dong, and Tre Publishers.

According to Deloitte, the global audiobook and podcasting markets are set to grow to US$3.5 and US$1.1 billion in 2020, which reflects an annual growth of 25 per cent and 30 per cent, respectively, compared to that of the broader global media and entertainment sector at 4 per cent.

Also Read: Glee Trees raises funding from 500 Startups to take its robotic process automation tech to Indonesia, Vietnam

Binh Tran, General Partner of 500 Startups Vietnam, said: “In Vietnam, the on-demand audiobook and podcast market is young but we believe it will grow tremendously over the next few years as more quality content is made available to listeners. The Voiz FM team quickly shipped a polished product that allowed listeners to discover and consume high quality exclusively licensed audiobook content. This combined with their dedication to customers and broader vision to tackle the growing podcasting market gave us confidence that this team will lead this market.”
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Picture Credit: Voiz FM

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Technology in education has followed two main trajectories in recent years. One revolves around digitalising the classroom (projection, laptops, touch screens, and VR in some cases), the other around bringing content and user-experiences online (apps to help teachers, parents and student connect and track, numerous subscription-based websites offering content).

While these are all important in moving education up the technology ladder, the Holy Grail perhaps is, one day, technology will help us reproduce the classroom and teacher to pupil experience seamlessly.

When news of COVID-19 started to blanket the media in January 2020, we at The Brainery Code immediately implemented precautionary measures such as travel declarations, LOA (Leave-Of-Absence), and classroom safe distancing. In addition, we were also concern about business continuity.

The Brainery Code started in 2015 and currently has two centre locations in Singapore with almost 300 active students. We believe that the one thing that sets us apart is our readiness for future challenges.

Our company has always planned ahead, as we first broached the possibility of conducting online lessons two years ago. We would do a rudimentary exploration of platform options and brainstorm on how we would deliver without compromising lesson quality.

Also Read: Why a Singapore coding school founder is funding a startup in Kazakhstan

Thus, when the situation presented itself, we were able to rapidly roll out home base learning (HBL) in early February.

Fail to plan? Plan to fail

In early February, we started offering HBL, even though we were still allowed to run onsite lessons then. We were anticipating the needs of a small group of students who may be placed on LOA, or parents who might want to keep their kids at home if the situation did not get better.

Many enrichment centres did not take this step at the early stage of the outbreak, which highlighted the fact that many in the industry have yet to take the steps to go digital.

This reluctance is perhaps buttress by the parent’s demand for onsite facetime as a non-negotiable in deciding the efficacy of an enrichment lesson.

While our initial sign-up for HBL was modest (about 10 students –a mere four per cent of our students), it did allow us to fine-tune and improve after each lesson, which was invaluable. Delivering coding lessons such as our Python Coder programme online was relatively straightforward, but when we figured out how to move our Robo Coder robotics programme online utilising the Remote Access Control feature on our conferencing platform, we realised that we have accomplished something significant. Students could now programme their robots remotely.

When the government announced on March 25 that all onsite enrichment lessons will be suspended, we kicked our HBL sign up into full gear. By April 4, we had about 100 of our students on HBL. As of May 19, this number was 150 or about 55 per cent of our students and still growing.

Also Read: Singapore-based coding school for children Saturday Kids raises US$1M seed funding round

While our teachers were still able to teach HBL lessons from our centre, we started preparing them to conduct lessons from home instead.

When the government eventually announced that all (except essential services) would have to work from home effective April 7, we were ready. In fact, parents did not notice any difference when our instructors transitioned to “teach from home”.

As we’ve also moved our business processes such as invoicing into the cloud, we were not tied down to the traditional location bound Point-of-Sales (POS) system, and as such, adopting these technologies has enabled us to continue operating virtually out of our homes.

At The Brainery Code, we aim to constantly innovate to enhance our students’ learning experience. The enrichment industry needs to embrace new technologies and perhaps go out on a limb to change perception and expectation.

This is important, not just for situations such as the COVID-19 pandemic, but as a way of sustaining students’ interest for technology and the benefits it can bring to their learning. It is my belief that many in the industry will emerge out of COVID-19 better prepared and more resilient.

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Asia’s digital health company Hello Health launches in the Philippines under Hello Doctor

Hello Health, a digital health company in Asia which focusses on the development of educational healthcare information platforms in local languages, has officially launched its ninth platform in the Philippines – Hello Doctor.

Hello Health dubbed itself as the developer and distributor of digital health information to patients and consumers, with the goal to empower them to make more informed decisions. It also aims to enable health and wellness brands to connect to a highly engaged audience.

In the Philippines, Hello Doctor aims to empower a potential audience of over 100 million Filipinos with medically verified, relevant, and useful health information via its website and social channels.

Hello Doctor works with a network of local and international healthcare professionals to ensure the content is thoroughly researched and medically accurate. The platform has launched initially in English but is also localised for Filipino audiences.

Plug and Play partners with Filipino conglomerate Filinvest to accelerate digital adoption in different industries

Philippine conglomerate Filinvest Development Corporation has partnered Plug and Play in an effort to fuel innovations in property and real estate technology, as well as in adjacent sectors in energy and sustainability, mobility, property tech, smart living, and IoT.

The agreement signing was to symbolise both parties’ commitment to collaborate on programs with global startups.

Also Read: These 20 startups are joining the 4th batch of Plug and Play Indonesia

Filinvest will work with Plug and Play to access pioneering tech-driven businesses across 20 verticals.

Josephine Gotianun-Yap, President and CEO of Filinvest Development Corporation said, “We see that smart, digital technologies will drive the future of the property industry. We want to leverage tech as much as possible to transform our business, engage our customers and locators, as well as help make a lasting positive impact on the local communities.”

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Image Credit: Plug and Play

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At the core of every successful startup is a vision driven by innovative products and services and a solid business model. However, in order to enable startups to scale and access a larger market, they also need a steady flow of funds to allow them the capacity to improve technological infrastructure, expand the workforce, and embolden marketing efforts.

Sourcing money for such business ventures can be difficult given the competitive market. In Southeast Asia’s vibrant startup ecosystem alone, this proves to be even more challenging considering the volume of startups in the region’s market.

Startups need to standout. They need ample visibility that not only lets them showcase their innovative products and services, but also lets investors know that they are looking for fundraising opportunities.

Traditionally, funding opportunities can come in the form of accelerators, incubators, and venture building programmes that often transpire at physical events. But with today’s unique challenges, there is a need to create spaces where startups and investors can connect with one another digitally.

Take the first step: visibility

One of the benefits of signing up for an e27 Pro membership is our unique and exclusive Fundraising Widget featured on the e27 homepage. This feature allows companies to let investors know who they are and what they do.

From there, investors can access startup profiles on e27 and explore crucial information about each of them. From information on founding teams to funding rounds, and coupled with comprehensive company information, startups have the capability to add compelling information to catch investors’ attention for potential funding or partnerships.

Considering the unique challenges present in today’s global economy, startups stand to gain a lot from being able to put their names out there. With much of the global economy shifting to the digital sphere, startups need to be visible digitally.

The fundraising widget is only one of the many key features that come with an e27 Pro membership. By signing up for Pro, you can enjoy a slew of exciting things including access to e27’s investor database, access to relevant, curated, and actionable news and insights geared for business success through the e27 Ecosystem Roundup, and the power to get in touch with your dream investors through e27 Connect.

Staying true to its name, an e27 Pro membership means taking your company to a more professional level, all while supporting your company and the vibrant startup community that we all operate in.

Join e27 Pro

Be a part of the Pro community and sign up for an e27 Pro membership today! You may visit here for more details.

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Advance raises funding to help Filipino workforce to access salary without waiting for payday

Manila-based fintech startup Advance has secured an undisclosed sum in a seed funding round, led by American VC firm Next Billion Ventures, according to DealstreetAsia.

Also joining the round are Dymon Asia Ventures and Accion Venture Lab.

The latest round of capital will be used to improve Advance’s current technology and operations, as well as to explore different products and new markets.

Advance helps Filipino workers receive financial assistance before they receive their paycheck to avoid borrowing money for daily needs.

“We’ve heard so many horror stories of people with an urgent need for cash resorting to payday lenders due to the lack of quality options. We knew that we could provide a much safer alternative to keep them away from endless debt cycles,” Advance Co-founder and CFO Addi Guevara said.

CapBay announces partnership with TheLorry to offer financial solutions for SME lorry drivers

CapBay, a P2P supply chain financing platform, has announced a partnership with TheLorry to offer financial solutions to SME lorry drivers, according to a press statement.

Under the agreement, lorry drivers can now easily apply for collateral-free financing upfront and defer toll expenses up to 60 days later.

Also Read: News Roundup: Hello Health launches in the Philippines as Hello Doctor

This partnership also marks the launch of “The Express Financing program” which aims to increase the accessibility of digital financing solutions for financially underserved SMEs.

Zendesk’s new COO aims to accelerate the company’s growth in APAC

Zendesk has appointed Wendy Johnstone, who had previously spearheaded senior marketing and operations in Salesforce, IBM and Microsoft, as new regional COO

Johnstone will be responsible for growth acceleration in the Asia Pacific region, which accounts for more than 10 per cent of its global business, as of Q1 2020.

Johnson’s predecessor, Sandie Overtveld, has been elevated as Vice President, Strategic Enterprise Accounts for APAC and EMEA, and is now based in Europe.

Zendesk is a San Francisco-based customer service platform that develops software to foster customer relationships.

SoftBank’s Vision Fund to lay off 10 per cent of employees after historic losses

SoftBank’s Vision Fund is planning to lay off 10 per cent of its employees after posting a record operating loss of over US$12.7 billion, according to Bloomberg.

The company refused to comment on the layoff.

“It makes sense that SoftBank is cutting positions at the Vision Fund as they are in a tough situation, and they may start targeting highly paid workers to cut costs,” said Koji Hirai, Head of M&A advisory firm Kachitas Corp.

Also Read: Roundup: Jack Ma steps down from SoftBank board

Furthermore, the Vision Fund has reportedly incurred further losses as a result of the ongoing COVID-19 pandemic.

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Image Credit: Fabian Blank

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As the pandemic evolves into a full-blown recession, startups and businesses are worried about the “big bucks”.

In this webinar, we hosted industry stalwarts Paul Meyers, Coach, mentor and strategic advisor at Stealth Mode Consultancy and Co-founder of Antler, Jussi Salovaara to talk about where VC funding is headed, and the growing role of impact investing and future of investing.

In a nutshell

Meyers said that as a founder-cum-investor, this was his third major economic shakeup. But it is very different from 2008 and 2009.

The good news is that deals are still happening even if not as many as before. VCs have a lot of dry powder so funding will resume. But he also cautioned that companies will continue to fail.

He reiterated that “disruption also creates opportunity. Uber, Slack, and WhatsApp were all started during that period. Disruption creates innovation.”

Salovaara was still a banker during the last recession and he is currently in a “cautiously optimistic” mood when it comes to early-stage startups.

“We have not seen any large scale withdrawal from the market. There is a bit of shell-shock and it is more of a delaying factor, but I feel it will pick up soon. Angel investors naturally being more conservative,” he added.

Key takeaways

• The big Limited Partners in VC funds are often financial institutions and don’t have another place to allocate the funds, so rest assured that capital will not disappear. However, it will get conservative.
• Everyone has to show a COVID-19 proof business model, a cash management plan. Founders will need to be more sound about ‘how they are going to make money and when, as it will be a major question investors will be asking.
• Unit economics and path to profitability are making a big comeback in the post-COVID-19 season in SEA. So maintain solid business fundamentals.
• The IPO market will be cooler and slower in the near future. Tech startup IPOs are not so big in SEA anyway. So exits are going to be slow.
• But M&As can go up and strategic acquisitions may rise. There will also be increased consolidation in specific verticals. Bigger players who are well funded will make some but it will still be slower than normal.
• Holding on to money and being judicious with their spending is a good strategy for an early stage. Once a product-market fit is identified they can consider fundraising.

Also read: Preparing for the future in a fireside chat with Cocoon Capital founders

• Team dynamics play an important role in how a company grows. This kind of a situation puts it to test. How they bond together, work together, or not. So hang in there!
• COVID-19 is a catalyst and there are opportunities in many verticals. While medtech and e-commerce are the obvious gainers, it is also worth looking for tech-based solutions to everyday chores and activities.
• Be cautious not to step into a very popular vertical either, as it will be too crowded. The real opportunity is in less-crowded areas.
• Bear in mind that there is no such thing as a local SEA business. Since the region is so diverse, there is no local. The flip side is that you have to respect all the various markets and their needs and cultures.
• Business model innovation is critical — it doesn’t require research or scientific discovery.
• Use this time is an inflection point to pivot your career. Use this time to also learn and equip yourselves with tools to become a better entrepreneur. There has never been a better time to learn.

Words of wisdom for founders

• While VCs are tuning in to virtual meetings and Zoom pitching sessions, leave no stone unturned to get a warm introduction.
• Get creative but don’t underestimate the power of cold reach-outs. Everyone likes a nice surprise.
• It underlines that you have to have a strong pitch — mechanically and physically. Keep your pitch clear and clean.
• There is a lot of information available these days, and make the most of it. Go for walks and listen to podcasts in the ecosystem.
• A path to profitability may seem futile as numbers may not be accurate. And sometimes the founder’s assumptions may not be precise, but it matters in the longer run. Its a test of logic and helps avoid mistakes of unrealistic assumptions.
• All investors understand it means nothing when it comes to the real numbers game but it’s a good way to assess a founder.

Resources

• Meyers recommended the DocSend Pitch metric report that tracks pitch deck interest and engagement for the startup community.
• Recommended by our speakers: Audiobook version of VentureDeals
• Full video of the webinar session, in case you missed it:

Food for thought

• How effective are equity crowdfunding platforms from your experience for early-stage firms?
• Meyers was not too keen on tagging the post-pandemic life as the new normal. Do you have a better name?
• Do investors still want to see traditional startups?

Call to action

• We are hosting a Meet the VC series to get to know the investors in our ecosystem more closely. Join us for a coffee chat with LPs from Qualgro and iGlobe Partners in June.
• While funding is an important aspect, startups ought to still communicate and cultivate their customer base. VP of Customer engagement at Tokopedia will be joining us to share his tips on how to keep your customers happy in a post-pandemic world.

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