Jesse Bouman and Nesha Aurea Hanzdima, both creators and entrepreneurs, believe the future of entrepreneurship starts with content creation. Globally, more and more creators are using the audience they built through content to launch their own businesses.

“However, in Indonesia, it’s far more difficult for most content creators to achieve this dream of starting own businesses,” says Bouman. “We felt that if we could automate this process, we’d unlock money for more creators to go full-time and build the businesses of their dreams.”

This led the duo to start Slice Group.

Slice was launched in January 2022 by Bouman (CEO) and Hanzdima (COO). Bouman was previously Head of Technology and Innovation at Mindshare, a global media agency, while Hanzdima is a serial entrepreneur and has built more than six companies since graduation.

A creator management solution, Slice helps agencies and brands manage creator relationships. Its integrated creator relationship management (CRM) platform simplifies reporting, payments, and relationships for sponsored brand content.

Also Read: Intudo Ventures, Arise back Indonesian influencer marketing startup Slice Group

“In layman’s terms, we help brands and agencies aggregate influencer performance data for campaign reporting and crunch the data so they can determine which creators to work with in the long term,” he elaborates. “We’re able to do this because our content creators sign up to Slice and connect their social media accounts so they can share their reporting data directly with us. All our data is verified, and we eliminate the manual screenshots and PowerPoints that plague the industry.”

In turn, Slice offers creators different tools to help them grow. It currently provides dynamic media kits for creators to share their rate cards, analytics, and audience demographics with brands and agencies without constantly updating a PDF like they typically do now.

A SaaS tool, Slice charges a monthly subscription. As the company expands its product line, it will include transactional revenue with its financial products.

The startup has worked with various agencies, brands, and startups, including Shopee, Nivea, Koinworks, Populix, Erha, and OMD/PHD.

While Slice plans to expand to new countries in Southeast Asia in the future, the current focus remains Indonesia.

“Indonesia is the largest market in the region, and we are firm believers in the economic growth opportunities the country presents over the next few decades,” he adds. “Secondly, Indonesians are uniquely positioned for success in the growing creator economy. The country has one of the world’s highest social media usage rates. They love creating and consuming content. Additionally, it’s a very entrepreneurial country.”

There are about 62 million SMEs, and in his opinion, the next generation of Indonesian entrepreneurs will start by simply creating content on their mobile phones.

Bouman also informs that Slice is now working on embedded finance features. “While Indonesia and SEA are quickly digitising their financial services, everything is still a one-size fits all model. The content creators and agencies that we work with have specific financial needs. Integrated financing and payments in our platform are areas where we feel we can expedite the flow of money and boost the businesses of both our agencies and content creators. ”

Also Read: How can influencer marketing help the travel industry in a post-pandemic world

On Wednesday, the startup announced the completion of a US$645,000 seed round of financing led by Intudo Ventures and Arise. “I’m a firm believer in product-led growth. We’re investing heavily in our engineering and design teams. We’ve brought all our development and design in-house. We focus on building an intuitive and impactful product while iterating quickly based on customer feedback,” he explains.

Globally, social media users touched 4.6 billion, shaping a US$100-billion creator economy. This growing number, coupled with the novel ways of starting a business globally, presents a massive opportunity for Slice to build a billion-dollar business. And Bouman and Hanzdima have only made baby steps, and they have a long way to go.

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Singapore-based construction planning simulation and optimisation startup Frontline Industrial Software has raised US$700,000 in a seed funding round led by Cocoon Capital.

Frontline, founded by Luis Martinez and Ruiqi Ding, enables construction companies, operators and contractors to quickly identify best-in-class construction plans with optimal activity sequencing and resource allocation. The software uses Artificial Intelligence to identify the most efficient and cost-effective construction plans for complex infrastructure, civil, energy, industrial and residential projects.

With Frontline, construction teams can simulate thousands of options and find the most cost and time-effective solutions. According to the founders, this is a significant improvement compared to existing construction planning tools that offer limited options for optimisation.

“Frontline’s ‘plug-and-play’ solution seamlessly integrates into the existing work processes of construction companies and uses existing data to deliver insights that were simply not available before,” said Martinez.

Also Read: Sirclo banks US$10.5M to expand in Indonesia

Frontline’s software is already used by international construction companies in the infrastructure, energy and residential sectors. Customers have seen project timeline savings of up to three months and a six per cent cost reduction, which is significant in a slim-margin business.

“With the estimated US$26 billion global construction technology market by 2027 and the widespread adoption of digital productivity solutions by over 80 per cent of construction companies, a substantial market gap awaits smart software that optimises project execution”, said Will Klippgen, Managing Partner of Cocoon Capital.

A survey by KPMG found that 91 per cent of construction industry executives believe digital transformation is important for their business, while only 19 per cent have a digital strategy in place. Frontline’s technology addresses the productivity challenges faced by the industry, making it a timely and extremely cost-efficient solution.

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Hong Kong-based children’s clothing resale platform Retykle has closed a new round of pre-Series A funding, bringing its total funding to US$2.2 million.

The latest round was led by Singapore’s early to-growth stage VC firm Pine Venture Partners, with participation from undisclosed angels.

The company plans to utilise the new funds to build a senior leadership team, develop new resale-as-a-service technology, and expand into new markets.  

Founded in 2016 by Sarah Garner, Retykle is an online consignment store for buying and selling designer baby, children’s and maternity fashion, gear and toys. Its mission is to make trading high-quality pre-loved items as easy and convenient as buying new ones.

Also Read: Why we need to stop calling them ‘mumpreneurs’

The US$400-billion global childrenswear market presents a substantial opportunity for resale. In 2022 the global resale market grew by 28 per cent and is expected to double in size by 2027, reaching US$350 billion. Resale outpaces traditional retail threefold and will account for 10 per cent of the global fashion market by 2024. Resale is revolutionising traditional retail and fundamentally changing consumer purchasing habits as they seek greater value and less environmental impact.

“The fashion industry is ripe for disruption, and advancing circular consumption is a clear win for sustainability and for all players in the fashion industry. Retykle provides a much-needed service for mothers of children while reducing our carbon footprint, and that is something fully aligned with Pine Venture Partners’ investment philosophy,” says Hyuk-tae Kwon, Co-Founder and CEO at Pine Venture Partners.

Retykle allows buyers to browse thousands of used and new past-season items from over 2,000 leading children’s designer clothing brands, saving 50-90 per cent off original retail prices.

Since its launch, Retykle has recirculated over 150,000 items, with tens of thousands of parents joining the platform to build a sharing economy online, saving temporary-use clothing from being sent to landfill.

“With only two per cent of VC capital directed to female-led companies, we are grateful to have the backing of Pine Ventures, who see the blue ocean of opportunity in circular consumption”, says Garner.

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Image credit: Retykle

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Anichess, an upcoming decentralised chess-inspired game by Animoca Brands, has completed an oversubscribed US$1.5 million seed financing round from GameFi Ventures, The Operating Group, Koda Capital, Bing Ventures, 708 Capital, Asymmetry Capital, and others.

The startup will use the funding to continue the development of its innovative decentralised chess game, expand its team, and grow its community.

Launched in 2024, Anichess develops and advances decentralised chess in partnership with Play Magnus Group (PMG) and its Champions Chess Tour. It modernises and tokenises the game to take advantage of opportunities presented by Web3 technologies and communities.

Also Read: Web3 is going to redefine labour in Asia in a big way: Animoca Brands’s Yat Siu

Anichess offers a free-to-play game that combines the core values of traditional chess with an additional layer of strategy provided by new features, including an innovative spell mechanic.

The Alpha version of the game is expected to launch in Q1 2024.

Following the acquisition of PMG by Chess.com in December 2022, which has expanded the reach of the Champions Chess Tour even further, Anichess will be presented to millions of chess fans to deliver innovative experiences, grow the global chess community, and empower players through decentralisation.

Yat Siu, Co-Founder and Executive Chairman of Animoca Brands, commented: “Partnering with Chess.com is an incredible opportunity to work with some of the leading chess players and influencers across the world and to bring chess into the open metaverse.”

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In today’s world, more and more people are relying on technology to stay connected. As such, new businesses in the digital space are cropping up left and right while traditional brick-and-mortar enterprises are looking to digitalise, considering digital transformation no longer a luxury but a necessity.

According to a survey by Gartner, over 90% of businesses reported having implemented some form of digital applications in their organisations and made digital transformation their main priority. Moreover, 56% of surveyed CEOs claimed that the digitalisation process has had positive impacts on their operation, increasing profitability and customer satisfaction.

Additionally, the emergence of the COVID-19 pandemic has accelerated the move towards digitalisation around the world as businesses and governments spent billions of dollars on building robust digital infrastructures to address social distancing and remote working measures, paving the way for seamlessness in communication and collaboration.  

It is also worth noting that for business owners, this transition towards an increasingly digital world not only means keeping up with the ongoing industry trends but also opens new opportunities for growth. With digital infrastructure automating processes and digitalising end-to-end user experiences, businesses can mostly eliminate geographical boundaries and reach out to potential customers across continents — ultimately opening their doors to fresh markets.

The rising demand for tech talents and hiring challenges in the sector

As a result of the overwhelming need for digital transformation, the demand for hiring software engineers and related professionals has been on the rise in the past years. Software developers can work with businesses to facilitate their digitalisation process, building and incorporating digital tools, catalysing changes at a more rapid pace, and shaping the future business landscape.

In 2023, the new job openings for programmers and software developers increased by 25% compared to 2021 with flexible options for on-premise, remote, and hybrid positions. Coupled with the chronic skill shortages in tech sectors, this increase in demand means an even more competitive recruitment war for the top talents.

Also read: Unlocking potential: The evolving role of corporate accelerators

Indeed, hiring and retaining top talents in the tech sector is very challenging for several reasons. In the first place, the turnover rate in the technology sector is among the highest compared to other industries, staying at 13.2% according to a survey by LinkedIn, posing a lot of risks, especially for startups due to potential disruption to their operation and high associated costs. Moreover, many companies are willing to significantly raise the salary and compensation packages to attract desirable talents, making the hiring market become even fiercer.

Second, technical skills and requirements for corresponding positions change constantly as new skills and tools emerge frequently, disrupting the existing industry incumbents. Hence, both tech talents and employers have to continuously adapt and acquire new skills to stay in the game. The recruitment process has also become trickier since recruiters must act fast to win the deal but still maintain the appropriate candidate qualities.

How WAOHire fills in the talent gap and empowers both developers and businesses

Based in Vietnam, WAOHire, a leading HR solution provider with an international reach, offers a range of services to help companies find and retain top talents with special expertise in the IT industry. With over 8 years of experience in the market and a team of more than 60 talented members who have years of experience in the IT sector, WAOHire has successfully consulted and built offshore development teams for more than 15 leading global clients. It has also actively founded or contributed to the local tech communities to develop competence and networking opportunities and collaborated with various educational institutions and universities to support and mentor students.

Through these initiatives, WAOHire can help address the talent gap and equip job seekers and employees with the technical and soft skills necessary for their jobs. 

WAOHire currently provides two main services that can be customised to the specific needs and preferences of the clients. First, Talent Sourcing & Recruiting Services are designed for employers who need help finding qualified candidates for open positions in their organisation. The service includes job postings on multiple platforms, extensive candidate sourcing and screening process among WAOHire’s vast pool of talents, and effective testing and interviewing process to find the candidates with the right skills and culture fit.

On average, clients start receiving candidate CVs after 5 days, alleviating their burden of sourcing and selecting candidates and enabling them to focus their efforts on day-to-day business operations. Moreover, thanks to WAOHire’s strategic vetting process and industry connections, its pool of candidates covers all major technological stacks including the latest and most sought-after skills such as blockchain and data analytics.

Also read: Challenging periods are the best time to invest—here’s why you need to get the word out

In addition, the second service offered by WAOHire is HR E2E Service which provides end-to-end HR solutions that streamline the entire employee lifecycle management from onboarding new hires, managing all legal paperwork, engaging them during their employment period, to terminating the employment. This includes payroll processing, attendance tracking, performance reviews, benefits administration, etc. WAOHire also goes to great lengths to ensure legal compliance in accordance with both Vietnamese and international laws.

WAOHire’s HR E2E service can help companies save up to 50% in costs compared to establishing a legal entity and hiring an in-house HR team. Their team of experts will take care of all HR needs, from recruiting top talent to managing teams and ensuring compliance with local laws and regulations. WAOHire’s end-to-end HR services offer unparalleled flexibility, allowing businesses to effortlessly scale their teams up or down as needed, without being burdened by legal complications and administrative woes, enabling companies to concentrate on their core strengths: driving business growth and accomplishing long-term goals.

Additionally, WAOHire’s pricing scheme is very competitive, with charges made based on actual successful hiring. With its innovative HR solutions, WAOHire hopes to empower both businesses and developers, matching the right talents with the right employers in the shortest possible time — ultimately enabling them to focus on cutting-edge technologies and meaningful projects.

To learn more about WAOHire and its services, you may visit their official website.  

About WAOHire

Founded by Phat Nguyen and Van Nguyen, a team dedicated to providing exceptional HR services to tech companies, WAOHire is a leading HR solution provider that offers a range of services to help companies find and retain top talent. WAOHire prides itself on taking a humanised approach to hiring and working with developers. Their services include Talent Sourcing & Recruiting Services that guarantee results after 5 days of kick-off and HR E2E Services.

Also read: Wrap Up: Highlights of Echelon Asia Summit 2023

Phat Nguyen has previously worked as a freelancer for numerous startups with global clients, putting him in the unique position of understanding the challenges faced by tech companies today. Moreover, he is able to offer a wide range of tech-focused services, from managing development teams to recruiting top tech talent. On the other hand, Van Nguyen has extensive experience in building communities and organising events, with her own community being one of the largest in the industry.

With Phat Nguyen’s wealth of technical expertise and project management skills and Van Nguyen’s deep knowledge of HR skills and talent acquisition, the duo provides an invaluable asset to WAOHire’s suite of tech services, enabling them to solidify their commitment to providing the best possible HR services.

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This article is produced by the e27 team, sponsored by WAOHire

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As the dreary funding winter soars, at e27, we are kickstarting a new article series Line of Hire to understand a company’s culture and hiring philosophies to empower tech workers with the right growth tools to enable business owners to attract talent.

Dean Wong, Founder and CEO of MPFunds, has had a dynamic career across various financial domains. His experience spans across private equity and capital markets, and he has managed an impressive portfolio of over US$50 million in trading turnover in commodities and forex trading.

In this episode, Wong shares his organisation’s culture and hiring philosophies.

Excerpts:

What personality traits/qualities do you look for in potential employees?

In potential employees, I look for traits such as integrity, teamwork, leadership skills and initiative. These qualities are crucial for building a strong and cohesive team.

How do they fit into your company culture? Tell us a little more about your company culture.

Our company operates on a unique four-day work policy, from 10 am to 6 pm, complemented by a 1.5-hour flexible lunch break, which sets us apart from traditional startup cultures. We believe that to establish a solid foundation, we must prioritise the quality of life and mental wellness of our employees.

During the interview process, I make it a point to ask candidates about their previous company culture and what they would like to avoid in our new company. Additionally, I inquire about their current mental health status, recognising that mental wellness is a crucial aspect that affects overall productivity.

Integrity is a fundamental value in our company, encompassing traits such as responsibility, ethics, honesty, and transparency. I place great importance on my employees being truthful about their working capacity. By understanding each team member’s strengths and abilities, I can allocate tasks more efficiently, allowing employees to enjoy their work and leverage their talents.

When challenges arise, I foster a culture of open communication and collaboration. Instead of resorting to assumptions or finger-pointing, we come together as a team to gain clarity on the situation and work towards finding solutions. This approach not only resolves the problem at hand but also strengthens the team dynamic, emphasising the significance of teamwork and creating an environment where employees feel comfortable voicing their opinions.

I really appreciate it when employees take the initiative to suggest improvements for the company. This demonstrates leadership qualities, and I empower them to take ownership of their ideas.

Lastly, I emphasise the importance of having standard operating procedures (SOPs) in place for every task. SOPs not only establish a clear company culture but also ensure that everyone understands their objectives and the step-by-step process to achieve them. This clarity enables more productive meetings and helps drive the company forward.

How do you foster transparency and encourage achievement in the workplace?

As a firm believer in leading by example, I understand that if I want transparency in the workplace, I must be transparent with my employees as well. To foster a culture of open communication, I encourage my team to share their feedback and opinions by regularly checking in with them.

In fact, I conducted a comprehensive course in May to educate and guide them on efficient work prioritisation based on a standard operating procedure (SOP) decision matrix. This training helps address any confusion employees may face when confronted with multiple tasks, enabling them to prioritise more effectively.

I also emphasise to my employees that finding joy in their work is an achievement in itself. With our 4-day workweek policy in place, I believe that my team has achieved a better work-life balance and improved overall satisfaction.

As a testament to their dedication, I set a target for our first info session launch with a one-month timeline, and I am proud to say that they exceeded expectations by accomplishing it in less than two weeks. Furthermore, the oversubscription of our info sessions is truly encouraging and demonstrates the commitment and success of our team.

Do you have a mental health policy? What does that look like?

Yes, we have a comprehensive mental health policy in place. In-house, we conduct monthly check-ins with employees to address work-related issues and provide better clarity on job scopes.

Additionally, we have partnered with Annabelle Psychology for their Employee Assistance Programme (EAP), which offers counselling and psychotherapy services, wellness workshops, training, and lunchtime talks on mental health and wellness.

WFH or WFO, or hybrid?

We follow a WFO (Work from Office) policy. This decision is driven by the belief that being physically present in the office fosters better collaboration, communication, and teamwork among employees.

This, along with our four-day work policy, ensures a more effective and efficient work schedule while allowing for a better work-life balance.

How should a tech worker prepare for the funding winter?

In a funding winter, it’s crucial for every team member to contribute to the company’s survival and growth. Here are some ways that will help us navigate this challenging period:

• Cost Efficiency: Look for ways to reduce costs without compromising the quality of our services and continue to work on improving SOPs to streamline processes and automate tasks. By being mindful of cost efficiency, we can maximise our resources and strengthen our financial position.
• Client Retention: Work on improving our customer journey and strengthening relationships with our existing clients. Provide exceptional customer service and prioritise client satisfaction and retention to foster long-term relationships and mitigate revenue fluctuations.
• Innovation: Explore creative solutions to the challenges that we might face, and importantly, be open and decisive in adapting them. This may involve developing new technologies, exploring alternative business models, or finding innovative ways to solve problems. By encouraging a culture of innovation, we can adapt to changing market dynamics and stay ahead of the competition.
• Communication: Maintain open and honest communication within the team and management. This can help everyone stay aligned with the company’s goals and strategies, and it can also help foster a positive and supportive work environment. It will also enable us to make informed decisions collectively.
• Leadership: Don’t be afraid to step up and take on leadership roles, even if they’re not in a management position. This could involve taking the initiative on projects, helping to mentor junior team members, or contributing to strategic planning.

Lastly, have faith that every challenge is also an opportunity for growth.

How do you measure the performance of your employees?

We measure the performance of our employees by ensuring that the SOP of their work is in place. We set objectives and checklists for each department on a weekly/monthly basis, which allows employees to track their progress and performance more effectively.

Will you consider a moderately skilled person with great honesty or a highly skilled person with less honesty when hiring?

When making hiring decisions, I prioritise honesty and integrity above all else. While skills can be trained and developed, honesty is a character trait that cannot be easily taught.

Therefore, I would consider a moderately skilled person with great honesty over a highly skilled person with less honesty.

Do you encourage ‘intrapreneurship’ in your organisation?

Absolutely. I strongly encourage intrapreneurship within our organisation. I believe that every employee has the potential to be a leader and take ownership of their roles. I empower my employees to make decisions that benefit the company and provide opportunities for growth and development.

How do you support upskilling for your employees?

The continuous upskilling and professional development of employees is of utmost importance to the company. Investing in the team’s growth not only benefits them individually but also strengthens the company.

I personally dedicate some time to mentor each employee on a one-to-one basis. This allows me to understand their career aspirations, identify areas of improvement and provide guidance to their individual needs to unlock their full potential. I also conduct monthly regular sharing sessions, similar to the one held in May, to discuss important topics such as task prioritisation for increased efficiency.

These sessions provide a platform for knowledge sharing, where team members can learn from one another’s experiences, insights, and best practices. By fostering open and collaborative discussions, we promote a culture of continuous learning and improvement.

I encourage the team to actively participate in discussions, share their ideas and ask questions. This inclusive environment will allow deeper conversations from diverse perspectives and the opportunity to learn from one another.

Besides that, the Employee Assistance Programme (EAP) with our partner Annabelle Psychology will also prioritise the team’s mental health and well-being to create a conducive environment for growth, productivity, and personal development.

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Earable Neuroscience, a US-headquartered deep-tech company that has developed a sleep tech wearable device, has secured undisclosed bridge funding from Samsung Ventures.

Through this investment, Samsung Ventures plans to forge alliances within its local and global network to support Earable Neuroscience’s global expansion, including the Korean market.

Established in 2018 by Vietnamese founder Tam Vu, the startup’s sleep tech wearable, FRENZ Brainband, incorporates cutting-edge neuroscience technology into a consumer wearable to enhance sleep quality, improve focus, and promote relaxation.

The AI-powered device tracks and stimulates brain activity by delivering real-time personalised audio content through integrated bone-conduction speakers. The core technology was developed by scientists at the University of Colorado (USA) and Oxford University (UK).

The firm shipped its customers the first batch of products in May 2023.

Also Read: Filipino B2B e-commerce startup Shoppable Business attracts US$1.15M funding

“Since day one, our vision has been to make the everyday advantages of neuroscience accessible to everyone by enhancing cognitive functions. Through precise real-time tracking and instant personalised stimulation, FRENZ holds the key to unleashing human potential, starting with the sleep experience,” stated Vu.

Prior to this, Earable secured US$6.8 million in pre-series A funding from Smilegate Investment and Peter Thiel’s Founders Found.

The company plans to initiate a Series A fundraising round in Q4 2023 to expand its operation, scale up product delivery, and expand its portfolio.

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Singapore-based startup ONEVIEW today announced that it had raised S$4 million (US$2.9 million) in a seed funding round from ADERA Global; Beyon Connect, part of the Beyon Group; and Cumulo9 to transform the digital payments and communication landscape across Southeast Asia.

In a press statement, the company said that it aims to set the benchmark for a digital post-box service that will greatly improve people’s lives.

It aims to revolutionise bill payments by simplifying everyday digital communications with what it promised to be a more convenient, sustainable, and spam-free experience.

The digital post-box application is scheduled to be launched by the end of the year in Singapore, enabling users to easily access their documents and communications from multiple billers and senders within a single app.

Also Read: Poko bags US$4.5M to streamline Web3 payments experience for all users

It will act as a testbed and benchmark for Southeast Asia.

“ONEVIEW’s digital postbox platform simplifies the bill payment process for both billers and customers. By eliminating the need for customers to visit multiple websites or make manual transactions, it saves time and reduces the likelihood of errors. By providing a frictionless bill payment experience, billers can improve cash flow and reduce payment delays,” ONEVIEW wrote.

“We are excited to introduce this cutting-edge digital postbox solution to the billing industry,” said LEE Kok How, CEO of ONEVIEW.

“Our platform is designed to empower billers with advanced digital communication capabilities and elevate the customer experience. With ONEVIEW, billers can not only streamline their processes and reduce costs but also build stronger relationships with their customers.”

The three investors that were involved in this funding round came from various industries.

Also Read: 4 fundraising documents every Singapore Founder should know

Singapore-headquartered ADERA Global works in data security and automation, serving global banks, telecommunications and government agencies around the world.

Beyon Connect, part of the Beyon group based in Bahrain, is a provider of new technologies and advanced IT solutions for both the public and private sectors in the MENA region.

New Zealand-based Cumulo9 provides business services for the digital delivery of transactional documents throughout APAC.

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Image Credit: Alexander Grey on Unsplash

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Retailetics has developed a smart cart called ezyCart

As weekly grocery shoppers, Manirajah Kulanthavelu and Shaji Rajappan were frustrated with the time they had to spend just locating products in the store and lining up in slow-moving checkout queues to pay. Despite these frustrations, they felt online grocery shopping could never match the in-store shopping experience.

With previous experience building companies, the duo sensed an opportunity to enhance the relationship between the retail outlet and the customer.

“We both shared similar ideas of how we wanted to enhance our weekly shopping experience. So, we interviewed hundreds of shoppers inside supermarkets, as well as senior executives and owners of major retail chains in Malaysia and Asia,” says Shaji. “This was the beginning of Retailetics.”

Retailetics — a combination of ‘retail’ and ‘analytics’ — is a retail automation company addressing the challenges of retailers and shoppers.

The startup has developed a smart cart called ezyCart. An AI-powered shopping cart, ezyCart enables supermarkets to seamlessly engage shoppers and deliver personalised in-store experiences while generating rich insights into everything shoppers do between the aisles. “ezyCart offers personalised promotions, rewards, cashless and in-cart self check-out payments, and insights into how the consumer shops,” Shaji remarks.

Also Read: How technology can help small retailers streamline operations with limited staffing

In a nutshell, Retailetics delivers four things: new footfall into the store (primarily driven by curiosity and desire for change), great shopping experiences for shoppers, and real-time insights and capabilities for retailers to sell more to consumers inside the store (captive audience).

The company operates in Malaysia and has just launched its first few pilots. It has letters of intent (LOIs) from four Malaysian retail chains today that allow the startup access to a total of 120 hyper and supermarkets. The firm plans to deploy small volumes of smart carts in their urban stores first, followed by the rest, as it raises more money to ramp up the cart production.

“We also have an LOI from a big retailer in the Kingdom of Saudi Arabia that is keen to test our product in 2023,” claims Shaji, who comes from an enterprise CRM and CX background and previously founded Inxider, an analytics company.

Several major retailers in Thailand, the Philippines, Indonesia, India, and Australia have also expressed interest in the pilot.

Retailetics banks on a subscription model, allowing retailers to deploy its tech by signing a contract for either 36, 48 or 60 months, during which they’d pay a monthly subscription fee (billed quarterly). This gives them access to the smart carts, cloud software and apps, dashboards and supporting technology infrastructure inside each store, and maintenance of the carts.

“Besides subscriptions, we generate revenue from advertising on the cart’s physical surface (cart-wrap), as well as digital aisle-based advertisements on the cart’s screen, and also our ezyList mobile app,” says Co-Founder Manirajah, who earlier built an e-wallet startup which he exited in 2017.

According to him, Retailetics faces several challenges, including the lack of access to venture funding and government support, besides finding good, disciplined, all-rounder knowledge workers such as high-end developers and engineers.

“As for funding, most VCs do not invest in startups they consider a hardware play. Yet, they communicate that to us using hardware such as mobile phones, tablets and computers,” Manirajah quips. “They also need to understand traditional retail and take the trouble to spend time with us to learn enough. Retail is a significant B2B segment as a single contract gives us access to their entire chain of stores. It is also a segment that millions of people buy products from every second.”

“Funnily, take your eyes off our hardware; you will realise we are a data company that generates valuable real-time insights across the entire shopper journey, from home to store and from the list to checkout. Not many companies can claim to do that,” Manirajah says.

The company raised initial capital from angel investors, including Suresh Thiru (former COO of Jobstreet.com and later CEO of SEEK Asia) and Bikesh Lakhmichand (CEO of 1337 Ventures) via a SAFE (simple agreement for future equity) round managed by 1337 Ventures. Several undisclosed investors from Malaysia, Singapore, India, Australia, and the US participated.

Also Read: How retailers could prepare for the next consumer recession if it were to come

While there are no direct competitors in Malaysia, globally, there are companies in the smart cart segment, such as Caper (acquired by Instacart), A2Z (acquired by a NASDAQ-listed company), and Imagr (a Kiwi startup funded by Toshiba Ventures and uses Toshiba’s patented AI tech to power their smart baskets and carts).

“Our biggest competitor is cheap labour. But if you remove everything else we do and deliver and focus on just self-checkout, there are a slew of self-checkout technologies that retailers, even in Malaysia, have deployed,” Manirajah shares.

With the COVID-19 scare gone and offline shopping back in full swing, competition in the retail industry is growing strong. Only retailers that can enhance customers’ shopping experience will win the game in the highly digitalized era. Perhaps, Retailetics’s ezyCart could play a crucial role here as it benefits retailers and shoppers alike.

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Singapore-based VC firm Integra Partners has participated in the US$7 million funding round of Berlin-based CleanHub, a company stopping plastic from entering the oceans.

Other investors that joined the round are Lakestar, Silence VC, 468 Capital, Übermorgen Ventures, Dan Bartus, and Stefan Gross-Selbeck.

CleanHub —  which has a presence in Jakarta, Bangalore, and London — will use the fresh funds to eliminate plastic waste entering oceans and drive systemic change in the waste management industry, enabling the circular economy of plastic.

Founded in 2020, CleanHub aims to prevent 50 per cent of new ocean plastic by 2030 by bringing waste collection systems to coastal regions where they are needed most.

Also Read: Samsung Ventures invests in sleeptech firm Earable Neuroscience

The firm has developed a track-and-trace system, with each bag of waste weighed, photographed, and monitored through AI and manual checks, ensuring accountability.

“We see climate tech as a key contributor to sustainable, equitable and thriving economies in emerging markets,” said Jennifer Ho, Partner at Integra Partners. “CleanHub’s innovative approach to waste management, coupled with our experience in fintech, creates some really compelling opportunities to tackle the plastic pollution problem in a different way. Their strong presence in Southeast Asia aligns perfectly with our investment strategy.”

In addition to the funding announcement, CleanHub also announced the appointment of Louis Pfitzner as Co-CEO alongside Joel Tasche.

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Image credit: CleanHub

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