For JD, the success of this drone delivery test will open up opportunities for future use in Indonesia and Southeast Asia

Chinese e-commerce giant JD and its joint venture in Indonesia JD.ID had completed a drone delivery test in the country on January 8.

Conducted in rural West Java province, the drone delivered a package of school books and bags donation for students at a local elementary school.

The project was conducted with the support of the Ministry of Transportation, the Indonesian Air Force, AirNav Indonesia, Indonesian Aero Sport Federation (FASI), and the Association for Drone Systems and Technologies (ASTTA).

For the company, the successful completion of the test will open up opportunities for future use in Indonesia and Southeast Asia.

In a press statement, JD.ID CEO Zhang Li said that the project was part of the company’s commitment for the advancement of Indonesia beyond its business side.

JD itself is a strategic partner of the World Economic Forum and a partner of Centre for the Fourth Industrial Revolution (C4IR).

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Video and Image Credit: JD

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Justika is a subsidiary of hukumonline, which was co-founded by a senior partner at Assegaf Hamzah & Partners

Indonesian legaltech startup Justika announced an undisclosed pre-Series A funding round on Tuesday, January 22.

According to a report by KataData Indonesia, the funding round included the participation of leading Indonesian law firm Assegaf Hamzah & Partners.

The law firm aimed to contribute in providing greater access to legal services by investing in the startup.

Led by CEO Melvin Sumapung, Justika provides a marketplace for various legal services ranging from legal counsel to document creation.

It also provided a phone-based legal consultation service with an affordable cost.

Also Read: Hong Kong-based legaltech startup Dragon Law rebrands to ZEGAL as it enters the UK

The startup is a subsidiary of hukumonline, an online platform that offers law advocates services.

hukumonline itself was co-founded by Ahmad Fikri Assegaf, a Senior Partner at Assegaf Hamzah & Partners.

In Indonesia, an example of legaltech startup that has recently raised funding is Kontrak Hukum, a digital platform that provides legal services to small- and medium-sized enterprises (SMEs).

The company raised a strategic investment from KASKUS, leading Indonesian content and e-commerce platform, who aimed to provide legal and educational support for content creators and small businesses on its platform.

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Image Credit: rawpixel on Unsplash

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Credit Culture will kickstart its operations in personal loans space with the funding

Credit Culture, Singapore-based fintech that is among the six entities selected as part of a pilot by MinLaw, announces S$40 million (US$29.5 million) funding from Malaysian-listed investment holding company, RCE Capital Berhad.

The funding is to be directed to build up Credit Culture’s operational capability as it gathers pace to be one of the first pilot licensees to operate under the new pilot by the Ministry of Law on new business models for the personal loans industry.

Also Read: Mapan reveals its current focus following new CEO appointment

In December 2018, Credit Culture, which is a subsidiary of Dey Private Limited, was selected as one of six entities that are part of a pilot by the Ministry of Law. The pilot seeks to professionalise the personal loans space.

Credit Culture is said to be the first Singapore fintech startup that provides digital solutions for personal loans.

Founded by a group of former bankers, Credit Culture’s use of proprietary technology allows applicants to apply online using a simplified process. It’s then supported by instant and personalised loan terms from its credit-scoring engine to assess the creditworthiness of a customer instantly.

It proceeds on to allow loan application process that can auto-populate the necessary fields using government sites like MyInfo. The system reduces the need for often cumbersome processes which in turn makes the application more convenient for consumers.

In terms of saving costs, reduced manpower and competitive rates capped at 1% per month once operation begins are what the company offers.

All rates and fees are presented upfront when presenting loan offers so the consumer is able to make an informed decision before taking up the loan. Credit Culture also ensures the removal of high late interest and extra charges for early settlement.

Edmund Sim, founder and Chief Executive Officer of Credit Culture, said that its approach increases transparency and brings costs down.

“This investment aligns with RCE Capital’s core business of providing personal loans and bringing opportunities to the underbanked,” said Shahman Azman, Chairman of RCE Capital Berhad.

Also Read: Indonesian legaltech startup Justika raises pre-Series A funding by top law firm

Credit Culture plans on championing clearing debts towards its consumers and is committed to providing funding options across all income segments.
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Image Credit: Credit Culture

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Also, Printerous to expand regionally, Vertiv Academy opens in Singapore

Vietnam-based fintech firm Finhay raises US$1M from Insignia Ventures Partner [Viet Nam News]

Finhay, a Vietnamese fintech firm that allows customers to invest as little as VNĐ50,000 (slightly more than US$2), announced that it has raised nearly US$1 million from Singapore-based Insignia Venture Partners and other investors.

“With new capital of nearly US$1 million, Finhay will focus on user growth this year as well as looking for talent to join the team,” Finhay’s founder and CEO Nghiêm Xuân Huy shared in official statement published by Viet Nam News.

Also Read: Mapan reveals its current focus following new CEO appointment

Finhay was established in 2017 as a micro-investment platform targeted at millennials. It allows customers to start investing with as little as VNĐ50,000, or slightly more than US$2, in mutual funds in Việt Nam upon Finhay’s investment portfolio and related risk assessment recommendation based on the applicants’ information.

Besides the main investor Insignia Venture Partners, Finhay also received seed round investment funds from Hong Kong and the US.

Indonesia’s Printerous to expand regionally this year [Press Release]

With the official announcement of its revenue increase that hit over 300 per cent last year, Indonesia’s online printing platform Printerous shares its plan to expand to other regions in Southeast Asia within this year.

Printerous said that it aims to focus on B2B market, as 98 per cent of the total transactions were contributed by B2B segments.

“Printing demand from B2B segments has increased significantly, thus we do lots of development to provide real solution through e-commerce and e-procurement,” said Kevin Osmond, Founder and CEO of Printerous

Some of the products that Printerous provided for B2B are packaging printing, marketing materials, and office supplies. It currently serves micro and small businesses.

Vertiv Academy expands to Southeast Asia through its first training facility in Singapore [Channel Asia Singapore]

Vertiv Academy has opened up its first training facility in Singapore, bring aboard the mission to equip channel partners, customers and engineers with the technical know-how to properly and effectively manage critical infrastructure.

“With the comprehensive course offerings of the Vertiv Academy, customers and partners attending our trainings will develop the technical agility to allow them to respond to any business challenges,” said Chris Mandahl, vice president for service of Asia at Vertiv.

Vertiv Academy is located at New Tech Park in Singapore. It will be tailored for partners or customers who have purchased Vertiv solutions, with customisable classes that have a mix of both classroom time and practical exercises, as well as a comprehensive safety overview.

In Asia, other Vertiv Academy locations are in Sydney, Australia and Shenzhen, China.

Singapore sets up US$72M training fund for “smarter” processes [The Straits Times]

In a bid to establish a building industry that’s no longer labour-intensive and more about “smarter” process, Singapore has set up US$72 million funding, officially announced by National Development Minister Lawrence Wong yesterday.

The funds are said to go towards boosting skills in the building sector, including financing existing scholarship and sponsorship programmes for students and adults. The funds itself have been earmarked from June last year to May 2020, expected to benefit 118,000 locals working in the construction industry as well as architects and facility managers.

Minister Wong noted that venture funding in building technology is growing and traditional firms are starting to do more to transform how they build, picking up new capabilities in automation, prefabrication, and digital building and design methods.

“Our people are at the heart of this transformation journey. How far we go depends on the quality of the people we have,” added Minister Wong, who was speaking at an iBuildSG scholarship ceremony at the National University of Singapore.

The $72 million fund will support an enhanced iBuildSG Scholarship and Sponsorship programme for those seeking academic qualifications in a full-time undergraduate, diploma or Institute of Technical Education track.

All those awarded scholarships and sponsorship will now receive a $3,000 training grant to boost their skills and competencies through courses. They will also be encouraged to stay on in the industry with a $7,000 retention incentive one year after their bond ends.

First-in-the-region Tourism Lab and Tourism Development Fund for Sustainability set up in Bali, Indonesia [Press Release]

A partnership of World Economic Forum Global Shapers Denpasar Hub and Five Pillar Foundation with the strategic support of Mayor Office of Denpasar, Indonesia Creative Cities Network (ICCN), Bali Tourism Board, University of Udayana, and Kumpul Coworking Space hosted the first regional industry design jam by Public Private Partnership by Youth (“PPP by Youth”) themed as “Bali Beyond Tourism” on January 12 – 17, 2019 in Denpasar, Bali, Indonesia.

The program gathered 120 guests and delegates from 29 cities in Asia with notable guest speakers include The Honorable Ida Bagus Rai Dharmawijaya Mantra, Mayor of Denpasar, Mr. Maxwell Nie, Doctor of Urban Design of Harvard Graduate School of Design, Ms. Faye Alund, Founder of Kumpul, Mr. Agus Teja Sentosa (Gus Teja), world-class Balinese flute class music performer, Ms. Ni Komang Ayu Suriani, Curator of Global Shapers Denpasar Hub and Mr. Shadman Sadab, CEO of Future City Summit.

An intensive industry design jam was carried out by 18 regional teams with 4 scenarios of tourism industry, including segments of urban design, eco-tourism, tourism financing and policy innovation. The event aims to explore how to make Bali become beyond tourism, tackling multiple issues in the industry from water crisis, plastic waste, culture degradation, urban design, and many else.

The preliminary Memorandum of Understanding was signed with 18 cohorts of public and private sectors from 10 countries in Asia including Indonesia, Mainland China and Hong Kong, Pakistan, India, Sudan (Africa), Sri Lanka, Uzbekistan, Malaysia, and so on to encourage the economic sustainability and development of Denpasar city, with the government committing to bringing forth innovation and design of the city through Creative Economy Committee of Denpasar. Public Private Partnership (PPP) via the founding of Tourism Lab.

Also Read: Indonesian legaltech startup Justika raises pre-Series A funding by top law firm

Tourism Lab is to establish pipelines of tourism companies and project among the connected cities towards Bali tourism, which would be assessed by the committee to be formed.

“Startups are early stage business that seeks to disrupt the market with innovation – and that is exactly how startups can play a role in the Tourism sector, by bringing in new perspective, ideas and inevitably changing the behavior of the industry,” said Faye Alund, CEO & Co-founder KUMPUL Coworking

As for the setting of Tourism Fund, it aims to aggregate financing resource from Hong Kong and Indonesia to provide development financing to potential projects and innovation of tourism for proper growth and development. “It will lead to groom the next unicorn of tourism in the region,“ said Zaki Yamani, Founder of 1001Teras and City Partner (Indonesia), Future City Summit.
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Image Credit: Printerous

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Ghazi also admitted there was some intention at the government level to shut down MaGIC, in order to avoid overlapping, as well as to streamline things

Ashran Ghazi, who stepped down as the CEO of Malaysian Global Innovation & Creativity Centre (MaGIC) in November last year, feels that the country has all the ingredients to turn it into a startup hub, but what it lacks is the “Michelin Star Chefs” who can mix these ingredients in the right proportion.

Ghazi, who is currently serving as the CEO of Dattel Asia, a home-grown consumer intelligence company, also believes that the local market is the perfect test bed for a Southeast Asia’s startups.

In an interview with e27 (the full text of which will be published in the coming days), Ghazi said that Malaysia has a great potential and is quite ripe for growth within Southeast Asia. However, it needs to still churn new ways of thinking from the bottom up.

“We need to have raw entrepreneurial spirit that is resilient in the open market and also need to build more creative and innovative thinking people. People who cannot stand status quo. We have the ingredients, but sometimes what we lack is enough “Michelin Star Chefs” who can mix these ingredients in right proportion,” he commented.

Ghazi joined MaGIC in April 2016 after its founding CEO Cheryl Yeoh departed in January that year. During his tenure, Ghazi brought in several initiatives, including the Corporate Entrepreneurship Responsibility Program (designed to bring startups and corporates for mutual benefits), Impact Driven Enterprise, Global Entrepreneurship Community Summit, PUSH (Great Social Entrepreneurship Programme), Corporate Open Innovation Program, and Mentorship Platform.

Towards the end of his period, MaGIC went through a controversy when the newly-elected Mahathir Mohamad government intended to wind up the agency in May 2018. Talking about this, Ghazi admitted there was some intention at the government level to shut down several agencies, including MaGIC, in order to avoid overlapping, as well as to streamline things.

Also Read: MaGIC or no MaGIC, Malaysia’s startup ecosystem is bound to flourish!

“MaGIC, like many other agencies, was in a pretty unique situation then. True there was some intent as a whole to tighten the ship within the government. In most conversations happened around that time, there was a sentiment that many agencies were overlapping. This seemed to be the case at a macro level, but if you closely analysed things, you will get a different picture. Indeed, all these organisations are doing different activities,” he clarified.

He went on to say that there were naturally many views during that time. So, before MaGIC stabilised and landed as an agency under the Ministry of Entrepreneur Development (MED), Ghazi had to educate and inform relevant stakeholders about the work MaGIC has done, its impact, as well as its future aspirations. “We were meeting with different people in the new government. Finally, we got an audience in the form of the Minister of Entrepreneurship Development. He immediately saw the value of the organisation and thought about how MaGIC fits in his aspirations in driving the entrepreneurial community to be future ready.”

As soon as the Minister got convinced and appreciated the context, he decided to move MaGIC to the MED family. It was indeed an exciting time for the agency, he added. “So it wasn’t so much about the government changing mind but, from my perspective, various ministries needed to get clarity on what they wanted to do and ensure that they had the right agencies under them. But I must say that we had a nerve-wrecking experience during those four to five months due to the uncertainties.”

Ghazi also added that MaGIC, under the new leadership, is getting ready to execute big things in 2019. It is tuned towards working closely with private sector and is designing programmes in a strategic manner to scale new heights.

“I cannot agree with the opinion of several people that MaGIC has not done much. I think we have done quite a bit and we wish we had done more. I feel there are naturally certain things that the agency can be done well, but there are certain things that can be done better as a private entity. MaGIC is in a transition to scale its impact, and this is what I have been instilling since day one of joining MaGIC. I think MaGIC under the new leadership will be able to see the results of this as the seeds of scale has been planted over the last 2.5 years,” he noted.

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Indonesia-based Jojonomic secures the new undisclosed round of funding led by the fintech VC fund Finch Capital

Southeast Asia-operated expense and business management platform Jojonomic has announced an undisclosed amount of funding raised led Finch Capital. Participating in the round are Jojonomic’s existing investors East Ventures and Golden Gate Ventures.

This round makes for Jojonomic’s shareholder base, which now covers Europe, the US, Japan, Indonesia, and Southeast Asia.

Jojonomic had said it intends to use the funding for completing Jojonomic’s portfolio of business solutions, integrating external data, expanding its customer base across Indonesia, and beyond, and developing further Jojonomic’s use of machine learning.

Also Read: Singapore’s Travelstop officially expands to seven markets in Asia

With the investment, Finch Capital brings its financial technology and will put Hans De Back, partner of Finch Capital on the company’s board.

“Jojonomic addresses the inefficiencies businesses often face by providing an expense and business management platform to managers and employees. We are look forward to working together in facilitating the daily activities of Southeast Asian businesses and creating the future of work,” said De Back.

Jojonomic first introduced JojoExpense to be the digital expense management platform in Southeast Asia with the aim to help employees achieve work by automating and bringing transparency to manual processes such as expense reports.

“By using Jojonomic, professionals hopefully will increase their productivity, focus on the things they are passionate about, and let the platform handle time-consuming administrative tasks,” said Jojonomic’s CEO and founder Indrasto Budisantoso.

Jojonomic offers a cloud-based business suite that helps companies manage business expenses with JojoExpense, enhance employee productivity with JojoTimes, manage procurement with JojoProcure, create a cashless ecosystem with JojoCashCard, and handle digital documents with approval flows. These applications can all be accessed under its Saas platform called JojonomicPro that target SMEs and enterprises.

Currently, Jojonomic is integrated with cloud-based accounting and business platforms such as SAP, Oracle, Microsoft, Xero, and OpenBravo. The system is integrated with Indonesia’s five largest banks to enable direct account payment and reimbursement, allowing end-to-end expense and cash management.

Also Read: Mobile is the US$120B future of tech business, report by App Annie

Jojonomic claims that it has tens of thousands of active users and support corporations and SMEs across sectors.
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Image Credit: Jojonomic

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Following the funding round, Motorist plans to open a new office in Thailand

Singapore-based auto-concierge platform Motorist today announced that it has raised an undisclosed seed funding round from JobsCentral co-founders Der Shing Lim and Shao-Ning Huang as well as Zopim co-founder Royston Tay.

The company plans to launch a new office in Thailand, complementing its existing offices in Singapore, Malaysia, and Vietnam.

“The next six months will be very exciting for the Motorist team,” Motorist Founder Damian Sia said in a press statement.

“We will focus primarily on marketing and supercharging our products and services to show future investors the scalability of our business model,” he continued.

Sia also added that the company plans to have another round of fundraising in 2019.

Also Read: How much can technology actually help Singaporeans save on car insurance?

It will also launch a nation-wide campaign in February to promote the launch of its new app.

Founded in 2015 by Sia, Motorist started off as a vehicle transaction platform. The company is now looking at the “car management aspect of vehicle ownership.”

Having been bootstrapped since its launch, Motorist claimed to have been profitable since the beginning.

The company said it has transacted more than 9,200 vehicles worth over S$176 million (US$129 million).

“I chose to invest in Motorist.sg because it has enormous growth potential in not only Singapore, but also
the ASEAN region,” said investor Royston Tay.

“The company offers a unique service to car owners, disrupting the usual automotive model we have grown accustomed to,” he added.

 

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The Vietnam-based startup operates a time-based discount solution for local service booking

JAMJA, a local service booking platform from Vietnam that offers time-based discount as its competitive edge, announces a US$1M total investment from Bon Angels and CyberAgent Capital. JAMJA offers its users discounted price when they book service like restaurants and beauty store on its platform.

“This bridge round investment capital will help JAMJA keep the momentum in the past, launch new services like a movie ticket, spa, healthcare, and karaoke, as well as to prepare for the upcoming official Series A round,” said Le Hung Viet, JAMJA’s CEO.

Also Read: Gobi Partners-Core Capital JV invests in Filipino startups MariaHealth, Edukasyon

In 2017, JAMJA has successfully raised seed round capital from ESP Capital. After that, just last year, JAMJA raised a pre-A round from Nextrans, Framgia, Bon Angles, and KB Investment with a total fund of US$850,000.

In this round, Bon Angels continues to invest in JAMJA, joined by new investor CyberAgent Capital.

With the new funding, the company plans to deploy applications in other major cities of Vietnam besides Hanoi and Ho Chi Minh City, while developing an in-depth solution that will be integrated into partner’s business activities.

JAMJA brings its users “time-based discount for booking” experience that allows them to find various service with competitive prices in comparison to the market in some special hour of the day.

On the merchants side, they can leverage this approach by controlling the number of guests, reducing the number of empty tables during peak and off-peak hours, setting appropriate discount rates through flash-sale deals, and changing the discount rates every hour, every minute, all available for integration in the standard POS system to manage orders.

“With the aim of utilising idle resources effectively and economically, the sharing economy model brought by JAMJA is becoming an inevitable trend in the global business environment. JAMJA helps merchants in the field of restaurant, beauty, and entertainment to optimise operating hours, especially the off-peak hours, from that brings value to customers and the whole community,” said Dzung Nguyen, Managing Director in Vietnam and Thailand at CyberAgent Capital.

Also Read: The e27 Southeast Asia Startup Ecosystem Report 2018 is here

JAMJA shared that it leverages on trends, with Generation Z (people who were born in 1995 and up with tech savviness) being its main target market for the application.

To date, JAMJA said it has cooperated with more than 3000 stores that have brought in 1.5 million monthly active users and more than 500,000 visitors to the store through the platform.
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Image Credit: JAMJA

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Neuron Mobility develops a new e-scooter based on the principles of automotive engineering, the company said

E-scooter startup Neuron Mobility takes the urban commute experience to another level with its new development of e-scooter. Neuron Mobility claims to put a spin in a basic two wheels, a board, and a handlebar -the scooter’s shape that public knows.

The company, that operates its fleet in big cities in Singapore, Thailand, and just recently in Malaysia, introduces an in-house designed platform based on the company’s operational experience.

Also Read: The e27 Southeast Asia Startup Ecosystem Report 2018 is here

“An e-scooter is no longer a novelty item or a toy; rather it has become a real alternative to urban transportation. Supporting new roles on an old platform is no longer sustainable, and we need to rethink how to maximise operational efficiency in order to be a viable mode of mobility for the public,” said Zachary Wang, CEO of Neuron Mobility.

The new model is said to focus on the ease of maintenance as well as tamper-proofing. It has improved structural integrity made out of aluminum chassis frame that joins two 12-inch wheels together – using a construction method that is more commonly seen in automotive applications – to give commuters an overall smoother and safer ride.

The e-scooter has a modular design that allows damaged modules to be replaced within minutes instead of spending days in the repair shop.

“All of the new e-scooter components may make the scooter seems oversized, but it allows riders to clear curbs, cross potholes, and sustain bumps without throwing their balance off, which is a common problem in many Southeast Asian cities,” said Mohammed Abdoolcarim, Neuron Mobility’s new Head of Product, who’s also the ex-product lead of Apple’s Siri.

Seeking to integrate this new form of mobility service into various cities, Neuron Mobility also developed proprietary software built into the scooter. Riders can use GPS-enabled parking indicator on the scooter’s handlebar display, allowing them to be easily guided to designated parking zones.

Also Read: Gobi Partners-Core Capital JV invests in Filipino startups MariaHealth, Edukasyon

Neuron Mobility calls their new platform a commercial grade e-scooter, designed to comply with PMD laws across Southeast Asia. The new scooter is also built to be adaptable to various road conditions – from paved streets in dense cities, to rougher roads in emerging markets.
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Image Credit: Neuron Mobility

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Plus, an influencer marketing platform launches X10 Media and Warung Pintar raises US$27.5 million

Faves launches new media group, X10 Media, to consolidate marketing properties — [Press Release]

Faves Holdings, a marketing company targetting micro-influencers, announced today the launch of X10 Media Group, a product that aims to help sales conversions for brands.

As part of the announcement, Faves announced an undisclosed funding round that valued the company at S$1 million (US$740,000). The money will be used for hiring as well as expanding its micro-influencer network.

Furthermore, the company is building a travel and events product that they plan to launch by the end of Q1.

The Singaporean company is looking at an impending launch in Indonesia.

Korean ride-hailing startup TADA launches in Vietnam — [Press Release]

TADA, a ride-hailing app built by the South Korean company MVL Technology Pte. Ltd, announced today it has launched in Vietnam — its third Southeast Asian market after Singapore and Cambodia.

TADA is trying to distinguish itself from its much larger competitors (Grab and Go-Jek) by offering no comission fees for drivers. They charge a 5% processing fee for credit cards, but the hope is by helping drivers pocket a greater share of the fare they can build a sufficient supply-demand.

TADA means “let’s ride” in Korean.

DJI says fraud has cost business US$150 million — [South China Morning Post]

DJI, Chinese drone maker, revealed it has discovered internal fraud that may have cost the company as much as US$150 million, according to the South China Morning Post.

The company says it discovered a number of employees were inflating sales numbers and pocketing the differences. The employees have been fired and a criminal probe is underway. According to the SCMP, the US$150 million number makes this one of the largest cases of internal corruption within a Chinese tech firm.

DJI employs around 14,000 people and is easily the most well-recognised drone company in the world.

Warung Pintar nabs US$27.5 million Series B — [e27]

Indonesia’s, a micro-retail tech startup has announced today a Series B funding round totaling US$27.5 million.

Existing investors who participated include SMDV, Vertex Ventures, Pavilion Capital, LINE Ventures, Digital Garage, Agaeti, Triputra, Jerry Ng, and EV Growth. The new investor coming on board is OVO.

“Warung Pintar has significantly push mitra’s (term to call its partners) income up to 41 per cent. We will continue to strive in transforming micro-retail so they can have a more competitive advantage in the midst of the retail landscape and build a better economy for themselves,” said Co-Founder & CEO Warung Pintar, Agung Bezharie Hadinegoro.

Jojonomic nabs undisclosed round from Finch Capital — [e27]

Southeast Asia-operated expense and business management platform Jojonomic has announced an undisclosed amount of funding raised led Finch Capital. Participating in the round are Jojonomic’s existing investors East Ventures and Golden Gate Ventures.

This round makes for Jojonomic’s shareholder base, which now covers Europe, the US, Japan, Indonesia, and Southeast Asia.

Jojonomic had said it intends to use the funding for completing Jojonomic’s portfolio of business solutions, integrating external data, expanding its customer base across Indonesia, and beyond, and developing further Jojonomic’s use of machine learning.

 

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