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Former Sequoia partner Yinglan Tan’s new fund backs Indonesian co-working chain

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Photo credit: Yinglan Tan.

On the back of a wave of co-working-related funding news comes another announcement, this time from Indonesia-based co-working chain EV Hive, which has raised US$3.5 million.

The “pre-series A round” was led by Insignia Venture Partners – the VC firm launched recently by Yinglan Tan, a former partner at Sequoia Capital. It’s Tan’s first publicly announced investment after his departure from Sequoia.

Intudo Ventures, Pandu Sjahrir and other angel investors, as well as existing investors East Ventures, SMDV and Sinar Mas Land also participated in the round.

See: Yinglan Tan raises $25m for debut fund

With fresh funds, EV Hive plans to branch out into additional shared services like co-living and co-warehousing, and other verticals that might arise out of the community’s needs, states CEO Carlson Lau in the startup’s release.

Originally part of venture capital firm East Ventures, EV Hive spun out as an independent business earlier this year.

With seven locations and nine more currently under construction, EV Hive claims to be Indonesia’s largest network of co-working spaces.

It’s struck a couple of interesting partnerships that offer additional value: A collaboration with Singapore’s Bash allows tenants to use co-working facilities in the neighboring country, while one of EV Hive’s locations, run in partnership with Jakarta’s smart city initiative, makes it easier for entrepreneurs to meet and pitch to city officials.

EV Hive has plenty of rivals in Indonesia. Just a few days ago, co-working space operator Rework announced over US$3 million in funding. China’s co-working space UrWork participated in the round. Other local co-working chains include Freeware and Kolega.

While US-based shared-office and shared-living giant WeWork hasn’t launched its own space in the archipelago, it arrived in Singapore with a bang, acquiring local firm Spacemob and announcing plans to spend US$500 million on its expansion in Southeast Asia and Korea. Spacemob already has one location in Jakarta.

This post Former Sequoia partner Yinglan Tan’s new fund backs Indonesian co-working chain appeared first on Tech in Asia.


Brief: Vietnamese social influencer platform Hiip grabs seed funding

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Hiip is a Vietnam-based automated influencer marketing platform. It connects brands and advertisers with “social influencers” who have a significant social media presence.

Competitors: Withfluence, Casting Asia, 7 Saturday

How it compares to competitors: According to Hiip, its data-driven technology sets it apart from its rivals. This allows brands and advertisers to set specific criteria for a campaign, and the platform will recommend suitable influencers based on the influencers’ social data.

Traction

Hiip claims that it has quadrupled its revenue in the last eight months, with more than 1,000 influencers under its wings.

Funding details

Amount raised: Undisclosed
Funding stage: Seed funding
Lead investors: 500 Startups, Cocoon Capital
Other investors: Expara
Investment type: Equity
Purpose: Product development and business expansion
Total disclosed funding to date: Undisclosed

 

This post Brief: Vietnamese social influencer platform Hiip grabs seed funding appeared first on Tech in Asia.

Video: Can PR ever be automated?

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Public relations. The holy temple of fluff, schmooze, and dapper suits (sometimes).

Can an industry so dependent on relationships be turned over to the robotic likes of artificial intelligence, machine learning, natural language processing and more?

In this week’s live session, we sat down with Chris Chong to find out more about his data science-aided PR firm, SumoStory, its detractors, and where he thinks PR is headed in this golden age of technology.

See: Groupon Singapore founder is back, yet again, with a new startup

This post Video: Can PR ever be automated? appeared first on Tech in Asia.

Japanese billionaire Taizo Son to invest in food and agritech startups in India

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Taizo Son in Bangalore. Photo credit: Tech in Asia.

Masayoshi Son is a familiar figure in India, with billions of dollars invested in Flipkart, Ola, and Oyo. Now his younger brother Taizo is on his first visit to India, but this Japanese investor has set his sights far away from ecommerce and transportation. He wants to invest in food and agritech startups.

Today in Bangalore, he announced the setting up of a new entity called Gastrotope in partnership with GSF accelerator. It will incubate and invest in startups innovating at both ends of the food cycle: technologies to upgrade farming as well as more efficient and less wasteful consumption of food.

Taizo Son invests in startups from his personal wealth and does not face some constraints of VCs.

In a chat with Tech in Asia, Taizo Son said the typical time-bound venture capital or accelerator model is ill-suited for tackling some of the world’s big issues. He feels more intelligent farming, as well as distribution and consumption of food, with the use of new tech like AI, IoT, and robotics can be transformative.

The Japanese serial entrepreneur and investor, who recently shifted his base to Singapore, wants to approach innovation in this area in a more holistic and long-term way than VC-funded startups are able to do in their drive to scale up fast. Taizo Son invests in startups from his personal wealth and does not face some of those constraints.

“The KPIs (key performance indicators) of startups in the Gastrotope program will be related to the strength of their products and the value they bring,” he told Tech in Asia. The incubation program will typically be a year long, and international startups will also be invited.

It won’t be just about funding either. Taizo Son wants to “connect diverse dots” to improve the chances of innovations taking root in this field. For example, he aims to bring together India’s large, traditional base in agriculture and the research base in more developed agritech ecosystems like Japan, China, and the US. Going forward, he may set up an agritech research institute in India. He’s thinking big and long-term.

See: Techstars launches first center in Asia. Founders explain what’s special about it.

Rajesh Sawhney, CEO and founder of GSF India, which is partnering Taizo Son’s Mistletoe in this venture, added that linkages with government will also be crucial in this sector. They are already in talks with various state governments to move forward on how Gastrotope can take innovations from the lab to the field.

This post Japanese billionaire Taizo Son to invest in food and agritech startups in India appeared first on Tech in Asia.

Video: Joke Battle – Startups Edition

A startup’s conference guide to TIA Tokyo 2017’s Startup Strategy Workshops

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With the increasing operational demands of the startup landscape, startup employees know all too well the importance of changing hats for each unique working situation.

That’s why this year, beyond the buffet of all-star speakers and networking activities, Tech in Asia Tokyo 2017 is serving up an array of intimate and hands-on Startup Strategy workshops to help you craft and sharpen your multiple problem-solving tools!

You’ll be in good hands with all of the 10 diverse workshops on offer. But if you’re pressed for time, then we’d suggest the following five workshops for you to attend on September 27 & 28.

Note: The workshops mentioned below are in Japanese. Kindly check the conference agenda for workshops held in English.

Sept 27 – User Feedback and Design Sprints

10:15 – 11:00: How to conduct user interviews

Why this is important for startups:
User interviews are critical to develop and improve products. Learning best practices on how to be user-first and get the right user feedback can help you get there.

During this session, Beenext’s Hiro Maeda, who is also the founder of Japan’s first accelerator program, Open Network Lab, will guide you through the world of user feedback. The workshop will provide an understanding of the basic purpose and effect of user interviews, having the right questions to ask and using the relevant feedback for growth strategies.

11:00 – 12:00: How to run design sprints like a pro

Why this is important for startups:
Efficiently structuring your business questions into clear and concise experiments will yield fast and effective decisions to scale your company quicker.

Right after Hiro Maeda’s workshop, learn from Takuo Suzuki, Developer Relations from Google Japan, who will help you transform your business questions into practical and timely decisions with Design Sprints. In one hour, bid farewell to lost productivity as you discover the power of streamlining idea validations, product experiments, and having a refreshed focus on business growth.

Following these two workshops, you can spend the rest of Day 1 attending the Main Stage talks, or explore Bootstrap Alley for the latest startups in the region.

Sept 28 – Video Ads, Coding, and Design Tools

For the second day, we shift our lens to the power of video ads, coding for non-coders, and design for the layman.

10:30 – 11:30: How to make killer video ads

Why this is important for startups:
In a sea of video content, having the right fitting and powerfully captivating video ads can help grow your audience base.

Once 10:30 strikes, Shuhei Okawa, the Senior Vice President of Candee, will take the workshop reins and open your eyes to the strategies, techniques, and reach of the perfectly crafted video ad. Ditch the amateur route and focus all energy on crafting a professional message honed according to what your audience needs to hear and see about your company, as well as crack video distribution.

13:30 – 14:30: Coding workshop with Make School

Why this is important for startups:
What non-programmers perceive as a simple request may not seem so to dev teams. Efficient and proper communication with your dev team will eliminate friction and allow your product to grow faster.

Learn from Miki Nomura of Make School – Japan’s new “college” for aspiring programing creators – how to break down programming into actionable steps resulting in your very own program. Most importantly, you will also learn to communicate better with your dev team for a greater efficiency.

14:30 – 15:15: Design basics to get customers and raise money

Why this is important for startups:
Design determines how customers interact with your product or service. Understanding design principles help your company look professional, as well as acquire and retain users.

Finally at 14:30, we round up the workshops with a 45-minute session on the basics of design with Canva Japan’s very own Design Advisor and Senior VP of Communications, Tsutomu Kamimori. Learn Canva’s design rules to grow your company brand and extend the reaches of your presentations, social posts, and ads to desired audience members.

Following which, end off your Tokyo conference experience by sitting in on the nail-biting Arena pitch battle, featuring seven handpicked startups who will pitch for glory in front of all 2,000 attendees.

Discover and learn at TIA Tokyo 2017

The Startup Strategy workshops are just one of the many learning opportunities at Tech in Asia Tokyo 2017. You can also listen to talks by CEOs of two of Japan’s top 10 funded companies (Raksul and Freee) as well as the CEO of Japan’s largest bitcoin marketplace bitFlyer, and more. If you want to step up your game and get tips from the best, check out the conference agenda and head over to Japan’s real tech conference!

What’s more, if you purchase your tickets now before the end of 15 September, you’ll save an extra 10 percent using the code tiatokyo10 – your final chance at scoring the best deal before tickets revert to full price.

This post A startup’s conference guide to TIA Tokyo 2017’s Startup Strategy Workshops appeared first on Tech in Asia.

Brief: Filipino ecommerce site Poundit raises six-figure funding

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mobile-ecommerce

Photo credit: Robbert Noordzij.

Philippines-based Poundit is an ecommerce startup for electronics, gadgets, and accessories. It recently changed its name from YouPoundIt to Poundit.

Competitors: Widgetcity, Kimstore, Lazada

How it compares to competitors:  The startup claims to have built partnerships with global tech brands, which enables it to feature a selection of authentic and authorized products at competitive prices. It says its customer-centric approach is unique: it assists customers from pre to post purchase, including help with post purchase issues since all products have the manufacturers’ warranty.

Traction

Poundit reports a fast-growing customer base, with a triple digit growth and a seven-figure revenue since its inception in 2014. but didn’t share hard numbers.  It has been bootstrapped so far with a core team of only three people.

Funding details

Amount raised: US$629,763
Funding stage: Seed funding
Lead investor: Cocoon Capital
Investment type: Equity
Purpose: Team development, business expansion, and customer experience programs
Total disclosed funding to date: N/A

Converted from Singapore dollar. Rate: US$1 = SGD 1,35.

This post Brief: Filipino ecommerce site Poundit raises six-figure funding appeared first on Tech in Asia.

Ministers and monks – 4 unexpected speakers at Thailand’s new startup summit

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Photo credit: Unsplash.

Startup conferences often have the same faces — successful founders sharing their experiences, corporate executives expounding on their growth plans, or experts commenting on tech trends. Presented by Thailand’s Ministry of Digital Economy and Society, Digital Thailand Big Bang (DTBB), the latest international digital-tech showcase in Southeast Asia by Thailand’s Ministry of Digital Economy and Society, plans to break that mold.

While big names like Amazon CEO Jeff Bezos, serial entrepreneur Jeff Hoffman, founder and president of the Global Entrepreneurship Network (GEN) Jonathan Ortmans, co-founder & CEO of Peek Vision Andrew Bastawrous, and representatives from Airbnb, Grab, and Line will be speaking at the event, the conference is pushing the boundaries with its speaker line-up. Expect the unexpected with these four speakers.

The Venerable Phra Maha Wutthichai

Photo credit: Wikimedia.

Meditation has become something of a permanent fixture in the Silicon Valley scene. Buddhist-influenced mindfulness practices have found followers in stressed entrepreneurs. Companies like Google have taken the lead in in teaching meditation to employees, while the co-founders of Twitter and Facebook have made contemplative practices key features of their new enterprises. Some 1,700 people showed up at a US conference called “Wisdom 2.0”, where top executives from LinkedIn, Cisco, and Ford spoke on mindfulness and spirituality.

With Thailand’s Buddhist roots, it makes sense for an innovation conference based in the country to also put spirituality on the agenda. The Venerable Phra Maha Wutthicahi is one of a group of monks in Thailand pioneering the use of technology to teach dharma, or Buddhist doctrines.

In a session titled “Intelligence 4.0”, the Venerable Phra Maha Wutthichai will explain how practicing dharma can help entrepreneurs succeed in Thailand’s new vision of the future by changing the way they deal with criticism, failures, collaboration, and life-long learning.

Minister of Digital Economy and Society (MDES), Pichet Durongkaveroj

Photo credit: Flickr / Sikarin Thanachaiary

As the Minister of Digital Economy and Society (MDES), Dr Pichet Durongkaveroj leads the country’s Startup Thailand program to develop, promote, and sustain startup businesses as a new engine of growth.

Before Pichet joined the MDES office, he held the Minister of Science and Technology portfolio, spearheading Thailand’s ICT master plan since 2010. Now moving into its third phase, Pichet is spearheading “The Pracharat Internet”, a government initiative to provide internet access to 24,700 villages in Thailand by the end of 2017.

“[Thailand] needs to focus on global connectivity by propelling the nation to become the destination for seamless connection, transfer of big data, and digital manpower in ASEAN, and implement a new economic cluster called Digital Park Thailand in Chonburi province,” he said.

“Mr Social Activist”, Mechai Viravaidya

Photo credit: Wikimedia.

You wouldn’t think an ex-government minister nicknamed ‘Mr Condom’ would be speaking at a conference about digital innovation and startups, but ex-minister of the Thai Office of the Prime Minister, Mechai Viravaidya, has a lot to share about unorthodox growth hacking methods.

The social activist earned the nickname through his work in the Population and Community Development Association, where he initiated a public sex education campaign through condom-blowing contests in schools, art contests, and an award-winning chain of restaurants and resorts that sells good food along with contraceptives. Through these methods, he reduced the country’s population growth rate of 3.3 percent to a more sustainable 0.5 percent and sparked a 90 percent decline in new HIV infections within 12 years.

As a result of his efforts, Viravaidya served as deputy minister of industry from 1985 to 1986 under prime minister Prem Tinsulanonda. He was also elected to the Senate between 1987-1991, 1996-2000, and 2000-2006. His work has become so well-known over the decades that condoms are now nicknamed “Mechai” by locals.

Giving a keynote speech titled “Learning not to leave anyone behind”, Viravaidya will draw on his experience of using daring methods to make lasting changes in the world around us.

Drone artist Raffaello D’Andrea

Photo credit: YouTube.

Drones hold immense potential to change the world. A dynamic systems and control professor at ETH Zurich, Raffaello D’Andrea also co-founded Kiva Systems, now operating as Amazon Robotics, to integrate robotics into every part of the supply chain. He also founded Verity Studios, a company that programs drones to entertain which recently joined Metallica on tour.

Alongside Swiss architects Gramazio & Kohler, the drone artist created Flight Assembled Architecture, the first architectural installation built by drones in 2011. The installation in France consists of swarms of quadrotor helicopters stacking 1,500 modules to form a 600-meter high “vertical village.”

Speaking on “Dronology”, D’Andrea will demonstrate the potential of drone technology, not just as a useful tool in industry, but also in art.


Image credit: Digital Thailand Big Bang 2017.

DTBB 2017 will take place on September 21–24 2017 at IMPACT Challenger Hall 1-2 in Bangkok, Thailand. The summit will bring together world tech leaders to address topics surrounding smart cities, digital ecosystems, and transformation roadmaps within ASEAN.

Covering the entire digital technology stack, DTBB 2017 will deliver the latest products, solutions, knowledge, and innovations to businesses keen to widen their expertise and digital business offerings. For more information on DTBB 2017 and its program, please visit www.digitalthailandbigbang.com.

This post Ministers and monks – 4 unexpected speakers at Thailand’s new startup summit appeared first on Tech in Asia.


Sex doll sharing is the worst kind of sharing

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I don’t mind sharing a bicycle. I’m happy to share an umbrella. But there’s no way on this sweet Earth you’ll persuade me to use a sex doll sharing service.

And yet that is what a Chinese startup has created. Behold:

Chinese startup tests out sex doll sharing

Photo credit: Leiphone.

The app has a variety of plastic partners, with names, nationalities, and vital stats. Santee, for example, is from Greece.

Chinese startup tests out sex doll sharing

Photo credit: Leiphone.

Silicone slamming enthusiasts can rent the dolls on a daily basis for US$45, reports state-owned paper Global Times. A week costs US$200. The returnable deposit is US$1,220.

i'm outta here. Ewww.

GIF credit: Angie Tribeca.

The weird app, with a banana as its icon, is called Ta Qu. That sounds like Touch – which indeed appears to be the English name the startup has picked.

Chinese startup tests out sex doll sharing

Photo credit: Ta Qu.

The app started out as a community for issues around sex and sexuality back in 2015. Today, inspired by China’s boom in apps for sharing bikes, basketballs, umbrellas, and all manner of other things, it’s also venturing into sex doll sharing.

The app is touting the service as “shared girlfriends,” as seen in this poster today put up on its Weibo account.

Chinese startup tests out sex doll sharing

Photo credit: Ta Qu.

Hoping to allay concerns over hygiene, the service promises that the “dolls’ lower parts are changed for every customer.”

GIF credit: Uproxx.

There are five dolls available – “Greek bikini model,” “US Wonder Woman,” “Korean housewife,” “Russian teenager,” and “Hong Kong race car cheerleader.” This is the American one close-up:

Chinese startup tests out sex doll sharing

Photo credit: Leiphone.

Ta Qu was spotted earlier today in Beijing promoting the service with the “shared girlfriends” tagline displayed prominently…

Chinese startup tests out sex doll sharing

Photo credit: Leiphone.

…With all five dolls propped up on chairs.

Chinese startup tests out sex doll sharing

Photo credit: Leiphone.

The service is now being tested in Beijing.

Converted from Chinese yuan. Rate: US$1 = RMB 6.56.

This post Sex doll sharing is the worst kind of sharing appeared first on Tech in Asia.

Brief: Bitcoin exchange closes ahead of China clampdown

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Illustration by Tech in Asia’s Andre Gunawan.

The news (from CNBC):

  • One of China’s top bitcoin exchanges announced this evening that it is shutting down. “After carefully considering the announcement published by Chinese regulators on 09/04, BTCChina Exchange will stop all trading on 09/30,” it said in a tweet.
  • BTCC’s shutdown comes after authorities earlier this month banned fundraising via ICOs in the country.
  • Bitcoin is dropping sharply on this news. At time of publishing, one bitcoin is worth US$3,560.

Why it matters:

  • It comes ahead of a rumored crackdown by Chinese authorities on all forms of cryptocurrencies.
  • An unverified report at the weekend said that all cryptocurrency exchanges that exchange digital currencies for Chinese yuan will be shuttered.
  • Individual ownership of bitcoin will likely not be outlawed, but it’ll be hard for Chinese consumers to buy any form of cryptocurrency.

This post Brief: Bitcoin exchange closes ahead of China clampdown appeared first on Tech in Asia.

This Singaporean startup closed its series A today, but went global long before that

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CashShield team picture

The CashShield team. Photo credit: CashShield.

When Justin Lie approached clients in 2011 with his cyber security solution, he faced raised eyebrows and quizzical looks. Back then, the concept of automation using machine learning had nowhere near the draw it has today. Fast-forward to 2017 and his startup CashShield has clients all over the world, with three international offices and a fourth on the way – plus it’s profitable and growing rapidly.

At the time, machine learning sounded ridiculous.

The Singapore-based company started out as CashRun in the late 2000s, after co-founder and CEO Lie’s own websites were hit by credit card fraud. Even as a teen, Lie had been making websites to sell items on eBay. Coming face to face with the problem of fraudulent transactions, he thought of an automated way to track down and flag illicit behavior.

Lie successfully tested the initial product with a gaming company in Germany. Then it was time for the hard part: develop and refine the technology, and convince clients of its value.

“Imagine pitching to clients that machine learning was going to solve all their problems and they would no longer need humans to look at transactions manually. At the time it sounded ridiculous,” he tells Tech in Asia.

Digital guardian

CashShield uses machine learning to track user behavior patterns on websites that involve financial transactions, like ecommerce stores. The startup has developed its own software from scratch with real-time pattern recognition and passive biometric analytics capabilities (where the subject doesn’t know the identification process is happening).

These impressive-sounding phrases mean the system can detect patterns in, for example, mouse movements and typing speed or in devices being used, in order to distinguish between legitimate and fraudulent users.

If such behavior is detected, the system rejects the transaction automatically, with no need for human input.

The data it gathers helps protect clients from payment fraud, fake account creation, account takeovers, and promo abuse (when fraudsters create new accounts in bulk to exploit sign-up incentives). The startup is so confident in its automated system’s effectiveness that it offers a 100-percent chargeback guarantee in case of failure – meaning it will reimburse its clients for fraudulent transactions that break through its defenses.

It took CashShield five years to research and refine its tech, but the time spent helped cement the company’s competitive advantage. “If you look at a lot of AI or machine learning tools, they are usually built around a common framework,” Lie says. “So a lot of solutions end up looking pretty alike.”

The startup has been rewarded for its efforts with big-name clients all over the world, which allowed it to secure “billions in gross merchandise volume” and become profitable very quickly. The list includes companies like Razer, Alibaba, Square Enix, T-Mobile, and Vodafone. It opened offices in Berlin, Jakarta, and Shanghai, funding operations largely out of its own pocket.

While Lie doesn’t reveal specific figures, he says CashShield has been seeing a 200-percent growth rate in revenue every year and has increased the contracts it has signed by 1000 percent in the past 12 months.

Until recently it has been able to forge ahead without worrying about external funding, meaning it could be picky when it came to external investors. More than funds, it needed go-to-market expertise and strategic partners that could help it grow further.

CashShield team at work.

CashShield team members, including co-founder Junxian Lee (R) hard at work. Photo credit: CashShield.

Bonus cash

Now it seems it has found those partners. The startup announced its US$5.5 million series A round today, led by US-headquartered fund GGV Capital. The round was joined by Heliconia Capital Management (a unit of Singapore’s Temasek Holdings), Razer, Stream Global, and Tony Fadell, designer of the iPod and co-founder of smart home startup Nest Labs.

GGV Capital managing partner Jenny Lee will join CashShield’s board of directors under the deal.

The company also announced it is opening an office in Menlo Park, the Silicon Valley town mostly known for hosting Facebook’s headquarters.

CashShield has received several accolades. It won the top SME award for a company with a Singaporean founder at last year’s Fintech Awards by the Monetary Authority of Singapore.

CashShield was able to go global without worrying about external funding.

Early this year it was evaluated by the Infocomm and Media Development Authority (IMDA) as part of its accreditation program. The startup was pleased with this development, as IMDA’s three-month testing process put its technology and business under intense scrutiny.

The resulting validation by Singapore’s government helped a lot in conversations with international investors as well as high-profile clients in markets around Southeast Asia. “It’s more than we expected, to be honest,” Lie jokes.

CashShield will continue working with international clients. “Once you cross borders, fraud becomes exponentially more difficult to handle. This is where we have a lot of opportunities,” Lie says.

The startup’s vision is to be a global risk management enterprise, catering to clients including telcos, airlines, big retailers, and so on, tackling challenges from transaction monitoring to database breaches. “We want to be an all-rounder cyber security company to help companies solve all areas of potential fraud risk,” he adds.

This post This Singaporean startup closed its series A today, but went global long before that appeared first on Tech in Asia.

Razer’s Tan responds after Nets CEO questions epayments proposal

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Razer CEO Min-Liang Tan on stage at Tech in Asia Singapore 2017

Razer CEO Tan Min-Liang on stage at Tech in Asia Singapore 2017. Photo credit: Tech in Asia.

When Nets answered the Singaporean prime minister’s call and outlined its plans for a nation-wide mobile payments system earlier this week, it was inevitable that Razer’s proposal – published a week earlier – would be part of the conversation.  

Speaking at a press briefing on Tuesday, Nets CEO Jeffrey Goh was somewhat skeptical about Razer’s claim that it could roll-out its proposed epayments system within 18 months. Moreover, he suggested that his company – which was founded in 1985 by Singapore’s three largest banks to establish a national debit network – has an advantage in this area over computer gaming firm Razer and other companies that have not historically focused on payments as their core business.

However, Goh did indicate that Nets is open both to collaboration with other companies and supporting proposals other than its own. “We’re not here to compete. We believe whoever can offer the best user experience will win,” he said. “Whether we are competing with them or not, we want to help, and we all want to make an epayments system that works. So if Razer has a wallet that’s successful, will we stop them from using our QR codes? No.”

Razer CEO Tan Min-Liang today responded to Nets’ proposal – and Goh’s comments – in a Facebook post.

“While I would’ve appreciated he didn’t take a swipe at me, the Nets CEO is absolutely right and we should support him 100 percent if he can roll out the epayments network for Singapore,” wrote Tan. “My interest in moving Singapore to a cashless nation is purely one for national interest and not for personal/corporate gain.”

Regarding the “take a swipe at me” comment, Tan’s post featured a link to a Today report on the Nets briefing, which seemed to suggest that Goh had been more than mildly critical about Razer’s proposal.

Tan went on to suggest that Razer was not completely without credentials in the payments space, having built an infrastructure around its own virtual currency, zGold. “Since launch some six months ago, we have opened about three million wallets – for gamers all over the world who want access to pay in over 2,500 of top game titles… Singapore’s epayment system would be a fraction of the global potential of our zGold business. As such, if someone could get the epayments solution rolled out in Singapore, we’d be all for it as we wouldn’t need to divert our resources to look at this project.”

Here is Tan’s Facebook post in full:

Tan’s proposal has come in for rather more stinging criticism than that offered by Goh. While there were many positive comments on the Facebook post announcing the plan, others described it as “general and lacking in details” and a huge chunk of marketing fluff.”

This post Razer’s Tan responds after Nets CEO questions epayments proposal appeared first on Tech in Asia.

Graphic: Who’s bullish on Bitcoin?

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“I predict the Internet will soon go spectacularly supernova and in 1996 catastrophically collapse,” said Robert Metcalfe, the inventor of the ethernet. It’s ego-bruising to be the person who’s wildly wrong about that one prediction, but that hasn’t stopped people making bold bets about the future of Bitcoin. Here are some famous supporters and critics of the digital currency, in this graphic by Andre Gunawan.

This post Graphic: Who’s bullish on Bitcoin? appeared first on Tech in Asia.

Video: This robot conducting an orchestra is too hot to Handel

Asus eyes startups with $50m fund

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US$6 billion gadget maker Asus is eyeing up startup investments with a US$50 million fund, it announced this week.

“This is a strategic fund for Asus,” says Anis Uzzaman, general partner at Fenox, which is managing the fund. “Asus wants to invest in startups in the areas of AI, IoT, big data, cloud computing, AR, VR, and other related technologies that require hardware-software integration and can benefit from collaboration with Asus.”

While the fund might pocket some returns, the phone and laptop specialist is aiming mainly to latch onto startups “that can collaborate with them both in business and technology areas,” Uzzaman tells Tech in Asia.

The fund is scanning for startups around the world, but it will focus on Asia, Europe, and the US.

Photo credit: Anis Uzzaman.

“We plan to invest from a few hundred thousands – for early stage startups – to a few million dollars for late stage startups,” says Uzzaman. “We are also planning to do follow-on investments into startups as they grow. So, we will provide hands-on support to the startups as we invest in them from this Asus Fund.”

Just like with a regular venture capital firm, that means there’s advice and mentorship on offer to the entrepreneurs.

 The California-based investment firm will serve as a matchmaker between startups and Asus – which it also does for several other funds it manages, such as ones for Sega and Bandai.

Converted from Taiwanese dollars. Rate: US$1 = NT$30.11.

This post Asus eyes startups with $50m fund appeared first on Tech in Asia.


China’s Southeast Asia obsession continues as JD expands to Thailand

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One of JD’s self-driving delivery bots. Photo credit: JD.

China’s growing interest in Southeast Asia’s tech scene continued today as JD, arch-rival to Alibaba, revealed it’s making a massive move into Thailand.

The US$65 billion online retailer is setting up a US$500 million venture in Thailand that’ll focus on two things – shopping and personal finance.

“Thailand’s large population and developed infrastructure, including strong national logistics networks, give it tremendous potential for both ecommerce and fintech services,” said Richard Liu, JD’s founder and CEO.

Asia’s online shopping spree hit a record US$1 trillion in 2016, though most of that is from China – US$899 billion of it, to be precise. Southeast Asia is a small slice of the pie, but it’s growing larger at a rapid clip, which makes it a tasty treat for companies looking to expand overseas.

JD, Richard Liu

Richard Liu (left). Photo credit: iFeng.

Thailand’s online shopping spend is projected to reach US$5.7 billion in 2020.

JD has already ventured into Indonesia, the largest nation in the region. That was back in late 2015.

The expansion into Thailand will pitch JD against its compatriot rival, Alibaba, which operates the Lazada marketplace in Southeast Asia. Lazada pretty much dominates online shopping in Thailand and across the region.

It also allows the Chinese tech firm to pre-empt Amazon’s anticipated arrival.

Bangkok buddy

The deal, as rumors predicted, is actually a joint venture, with JD and Thailand’s Central Group splitting the US$500 million investment down the middle.

Thailand, Central Group, mall, shopping mall

One of its malls. Photo credit: Central Group.

The Thai partner is a retail behemoth established seven decades ago. Still owned by its founding family, the firm runs malls and department stores, owns more than 40 hotels and resorts, and dabbles in real estate too. It’s also tentatively going into online shopping.

JD’s Bangkok buddy will offer up its stores and malls as a way to source goods for customers. In turn, JD’s new Thailand marketplace will be a storefront for may of Central Group’s retail offerings.

“Working with Thailand’s strongest retail conglomerate, with a massive shopping mall and department store network, gives us a huge competitive advantage as we expand further into Southeast Asia,” add CEO Liu.

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Stay ahead of the SaaS curve at TIA Tokyo 2017

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How many activities you engage in daily require connection to a cloud-based application? Software is at the head of leading a major technological disruption to traditional industry structures, sustained by strong demand from consumers and corporates alike.

Marc Andreessen, co-founder of Andreessen-Horowitz, the venture capital that invested in the likes of Facebook, Twitter and Skype, observed that SaaS companies are taking a big share of the value chain pie due to increasing reliance on software. This has resulted in attractive market valuations that has drawn VCs to invest in this sector.

This September 28 at Tech in Asia Tokyo, learn from accomplished individuals in SaaS who’ll share how you can ride on the rise of SaaS to scale your business further. To get in on the action, make sure to secure a conference pass, which also entitles you to a range of startup strategy workshops and networking sessions!

Scaling your SaaS business

Given the fast-paced nature of a startup lifecycle, it can be tricky to decide when you should be moving from company growth to international expansion, because the window of opportunity is fleeting. Coupled with the volatility of market demands, your startup may not be equipped with sufficient resources to cope with sudden growth spurts and run the risk of overworking your manpower.

Not sure how to start or facing roadblocks in planning? Get your questions answered by Michael Litt, CEO of Vidyard, at the first SaaS spotlight session on Day 2 at the Main Stage, which will be moderated by James Riney, Managing Partner & Head of 500 Startups Japan.

James Riney - 500 Startups investing in Japan - photo 4

James Riney from 500 Startups speaking at Tech in Asia Tokyo 2016. Photo credit: Michael Holmes.

Michael Litt, CEO, Vidyard

Vidyard has been making waves in North America with its innovative software used to host and analyze video performances for optimizing business growth, particularly through video marketing.

Under Michael’s leadership, Vidyard walked away from its latest Series C round with US$35 million in funding, achieving yet another milestone for its business scalability. Michael has been credited for being a public advocate for Canadian tech startups, earning him the title of ‘Change Agent 2016’ by business magazine Canadian Business.

James Riney, Managing Partner & Head of 500 Startups Japan

Like its name suggests, 500 Startups boasts an extensive network of startup programs with seed investments across 60 countries.

James recently led the Japan team to win local government backing and raised its total fund value to $35M. Before establishing 500 Startups, James was an investor for DeNA’s venture arm and created headway for the company to break into Thailand, Indonesia, Philippines and India. For his contributions to the venture capital field, James was listed in Forbes Asia’s 30 Under 30 in 2016.

Why SaaS is the new black

Cloud platforms are powerful because it enables seamless integration of complex business aspects, displacing the value of traditional data centres. Definitely a force to be reckoned with, SaaS reduces the lead time for data collection drastically with its ability to produce real-time analytics for making important business decisions. Clearly, business owners are becoming increasingly aware of its rising importance – Gartner predicts that the SaaS market will increase 20.1 percent, reaching $75B in 2017.

SaaS is not merely a trend, but a change that is here to stay. Find out how you can harness its power with insights from the following speakers headlining the second SaaS spotlight session:

Matt Garratt, Vice President, Salesforce Ventures & Corporate Development

Salesforce Ventures has been actively investing in SaaS partners globally, with its business footprint spanning across 14 countries.

Matt has been instrumental in expanding the global presence of Salesforce Ventures, adopting a strategic approach in forming partnerships through the venture programme while retaining its core focus on enterprise software companies.

Akira Kurabayashi, Managing Director, Draper Nexus Japan

Draper Nexus is an early-stage venture capital firm focusing on enterprise technology.

A veteran in venture capital, Akira is an active angel investor and has backed more than 30 Japanese SaaS startups over the last 15 years. Akira is passionate about fostering the enterprise sector in Japan, which is currently in its early growth stages, as he believes in the potential of the local entrepreneurship scene.

Piyush Gupta, Managing Director, Sequoia Capital

As a pioneer leading the SaaS revolution, Sequoia has invested in companies like Google, Dropbox, Apple and Airbnb.

Before joining Sequoia, Piyush headed the technology, media and telecommunications vertical in India and Southeast Asia for Deutsche Bank.

Stay ahead of the SaaS curve

These mark exciting times for the SaaS industry. If you’re a SaaS startup with expansion plans, or simply want in on what’s next, head on down to Tech in Asia Tokyo 2017 to connect with these industry experts and other key players in the tech ecosystem.

Simply purchase your conference passes before tonight, 15 September, 11:59pm (GMT +8) and use promo code ’tiatokyo10’ to save 10 percent off full-priced tickets. Don’t miss out on this last discount before the conference takes place!

This post Stay ahead of the SaaS curve at TIA Tokyo 2017 appeared first on Tech in Asia.

Expect more deals as Singtel introduces Singapore’s first unlimited mobile plans

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Singtel logo wide

Photo credit: Terence Lee.

Singtel today launched Singapore’s first mobile plans featuring unlimited local data, phone calls, and text and multimedia messaging.

Existing customers on Singtel’s Combo 3, 6, and 12 plans will be upgraded with unlimited talk time and SMS from today. They will also be able to purchase unlimited data as an add-on for about US$30 per month, which they can share with up to three family members for an additional US$8 per month.

New subscribers to Combo 6 and 12 plans will also be able to pick a free data roaming plan each month, worth up to US$26 per month, for use outside of Singapore.

Fierce competition has been sparked in Singapore’s telco space in the past couple of years. Regulators decided to open up the market to new players in February 2016, expanding the number of mobile network operator licenses from three to four. The arrival of “virtual operators” – which will lease infrastructure from current license holders – has further shaken up the landscape.

Back in March 2016, MyRepublic kicked off a price war when it pledged to offer 2GB of data for about US$5.80 per month if its bid to become Singapore’s fourth telco was successful (it wasn’t – the license ended up going to Australia’s TPG, with MyRepublic pivoting towards a virtual operator model).

The three incumbent licensees – M1, Singtel, and StarHub – followed up with their own competitive data plans within a couple of days.

While this driving-down of prices has, in theory, been great news for consumers, the new, extra-competitive environment has not come without problems for the rival companies. As mentioned above, MyRepublic ultimately lost out on becoming Singapore’s fourth licensed mobile operator and had to come up with a new strategy. In March, M1’s owners – including Singapore Press Holdings – said they would be exploring a potential sale of the company.

Warburg Pincus, China Broadband Capital, and even MyRepublic were said to be among the suitors, but M1’s shareholders eventually took the firm off the market due to an apparent lack of suitable bids.

Expect another price war to commence within the next few days.

Converted from Singapore dollar. Rate: US$1 = SG$1.35.

This post Expect more deals as Singtel introduces Singapore’s first unlimited mobile plans appeared first on Tech in Asia.

WeChat is quietly developing its own AR platform

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Photo credit: Tech in Asia.

China’s most popular messaging app WeChat is quietly developing its own framework for augmented reality (AR).

Made with smartphones in mind – not HoloLens-esque headsets – it’s a big step in WeChat’s plans to bring AR into its ever-expanding world of payments, entertainment, shopping, transportation, and other services.

Here are some demos released by WeChat’s AI team this week and last week. This is its 3D rendering engine – used to create virtual warriors and characters that can pop out of objects.

Image credit: Tencent, modified by Tech in Asia.

Image credit: Tencent, modified by Tech in Asia.

The team is also working hard on tech that powers applications like this, a measuring app:

Image credit: Tencent, modified by Tech in Asia.

With the release of Apple’s augmented reality toolkit ARKit, it looks like better and more versatile AR experiences are coming to smartphones very soon.

AI push

Called QAR, WeChat’s AR framework will be an open platform for third-party developers. It’s not yet known when it will be released and what kind of features will be available. Tencent declined to comment.

WeChat’s artificial intelligence team is working on its own 3D rendering engine so that detailed objects, like a soldier’s boots or armor, look realistic in smartphone-based AR apps. They’re also developing their own simultaneous localization and mapping (SLAM) technology, which helps calculate the position of virtual objects relative to their environment. That would enable AR interactions without the need for markers, like a QR code or a special image.

Hints of WeChat’s interest in augmented reality were leaked in April, when the company posted a video about mini programs – lightweight apps embedded in WeChat that users don’t have to download.

See: WeChat is using mini programs to tap offline traffic

The promo video featured a Pokemon Go-like scene, hearkening back to WeChat creator Allen Zhang’s first public speech about mini programs: “When you look at any physical object, the object’s data or application will automatically emerge. Through [smart glasses] or some other method, you’ll be able to trigger the app and run it.”

In China, search giant Baidu has developed its own AR framework, which has been used to create AR marketing campaigns for brands like L’Oreal and Lancome. WeChat’s own efforts would speed up the process of adoption in China, potentially giving AR developers – and brands – access to the app’s 963 million active users.

Watch: These amazing AR apps are about to arrive on your iPhone

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Redmart’s new head of tech spent nights stamping envelopes for his first startup

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Redmart head of product and enginering, Patrick Teo

Patrick Teo. Photo credit: Redmart.

Redmart’s new top engineer and product person cut his teeth in Silicon Valley, working for Amazon and Facebook. But before that, Patrick Teo was a founding member of a startup in the Valley – a photography publishing service called Shutterfly.

That was 1999, the era of the “dotcom boom” in the US – and the peak before the plunge of the 2001 bust.

“Digital cameras were in vogue [then]. We thought, where do you get your photos printed with a digital camera?” Teo tells Tech in Asia. The startup allowed users to have their digital images printed and later made into all kinds of physical products like greeting cards and calendars.

Shutterfly made it through the 2001 crisis successfully, achieved profitability, and listed on NASDAQ in 2006.

Walking through the Valley

Teo went on to product and engineering positions at Amazon and Facebook. At chez Bezos, his mission was to build the company’s new music streaming product. He started at Amazon in 2009, when digital music basically involved using iTunes to download files onto your iPod. Online streaming was still in its infancy but always-connected smartphones were coming into their own.

“The project was, essentially, to take advantage of the connectivity of mobile to build a cloud-based streaming system,” Teo says.

Sounds pretty straightforward, but the challenge was not insignificant. The project was based in San Francisco, where Seattle-headquartered Amazon didn’t have a large presence at the time.

Teo sees tech like machine learning and artificial intelligence as an important part of Redmart’s product.

“One of the major challenges of building Amazon’s music service was hiring the large team that would build it. Amazon was competing against startups and other large tech companies for talent,” Teo says. With the company’s offices all the way up north in the state of Washington, the Bay Area-based team would have to coordinate with the mothership remotely.

So the company decided to make this part of its brand to help recruitment. “People who joined were able to have a larger impact and greater autonomy. Plus, they were able to build many new capabilities from the ground up using various AWS tools and technologies. This brand was used to recruit through industry hires, internal transfers, and universities,” he explains.

After spending four years there, Teo decided to look for new challenges. He found what he was looking for at Menlo Park, with Facebook’s “move fast” approach. Teams would try new ideas for six to 12 months, some of them involving major features, and then strike them down if they were not working and moving on. “There was constant experimentation,” Teo says.

For example, one of his teams once spent six months on a feature that helped users share their status update more easily. The feature rolled into several countries but it didn’t make the impact the team hoped for, so it got scrapped.

Facebook’s “hacker culture” also appealed to Teo. He recalls a meeting with a colleague who worked in business development when he first started at the social network. “When we met, he looked tired and I learned it was because he had spent the night before in a hackathon team, hacking on some new iOS feature the team was passionate about,” he relates.

Teo was approached by Redmart through an informal introduction, which led to some casual back-and-forth. That was when he decided to take the plunge and return to the homeland.

Redmart team photo

Teo says that Redmart fits his customer-centric philosophy. Photo credit: Redmart.

To serve the customers

Redmart appealed to him because of its customer-centric philosophy. Speaking to two of Redmart’s three co-founders, Roger Egan and Vikram Rupani, Teo realized Redmart’s culture would be a good fit for him and what he wanted to do.

More than Amazon or Facebook, it was his time with Shutterfly that shaped Teo’s mindset about serving customers. Having been part of that company for a decade, he maintains that developing the product around the end user was a constant that steered the team through struggles and challenges.

Given that it’s a common thread that brought him to Redmart, I ask him what “customer-centric” means to him.

At Shutterfly, it was not uncommon to have all-nighters to provide the best possible service to their customers.

“It’s about making decisions, both on the product and the tech, that put the customer first,” he explains. When building a product, sometimes there are things that make the tech more efficient and save time and effort for developers, but will impact customer experience. “When there’s shortfalls in the technology and the product, always keep in mind that ultimately what you’re trying to do is to create the best possible experience for customers,” he adds.

But it goes beyond that. At Shutterfly, for example, it was not uncommon to have all-nighters to be able to provide the best possible service to their customers. During the holiday season in the startup’s early years, Teo remembers many employees volunteering for the 8 p.m. to 6 a.m. night shift when the company was short-handed and orders needed to be fulfilled.

“Regardless of our roles, we would be folding cards, putting postage stamps on envelopes, and packing orders in our manufacturing facility,” he says.

In those days, the team had to take down their website in order to push software updates. So every month, these updates would take place at night. “I remember many of us heading into the office on release day each month at around 10 p.m. to conduct our software release and leaving the office past midnight – and sometimes the next morning, if we ran into issues with our release,” he says.

As Redmart’s new chief product officer and executive VP of engineering, Teo feels it fits this philosophy well because of the very nature of its business – delivering groceries. “Grocery shopping is by and large inconvenient, a chore. And you have to do it very frequently. My vision is to address this by making a product that is convenient. It’s personalized so it knows what you like, how frequently you order, and when you like to receive your order.”

Like a lot of other startups for whom deep knowledge of their customer is key to their business, Teo sees tech like machine learning and artificial intelligence as an important part of Redmart’s product. He demurs when asked about examples of products and features that could spring out of this.

The Singapore opportunity

Teo joins Redmart at a very busy time for the company. The online grocery delivery startup made headlines last year after getting acquired by Southeast Asian ecommerce dynamo Lazada, which in turn had been acquired by Alibaba. As part of one of the most dominant ecommerce players in Asia, Redmart has been working on improving its tech and growing its warehouse and logistics facilities.

Meanwhile, the long-awaited shoe dropped with Amazon Prime Now launching in Singapore in late July. The Prime Now app, which offers delivery within two hours and many grocery-type products, could put pressure on the Singaporean company.

While Redmart doesn’t reveal specific user or revenue figures, App Annie’s rankings show its app in Singapore is neck and neck with Prime Now and local competitor Honestbee.

It bears mentioning, however, that app rankings tend to fluctuate as offers and promotions often get people using one app over another, as Egan previously told Tech in Asia.

Similarweb, meanwhile, shows Redmart in the lead in terms of desktop visits compared to Honestbee.

Similarweb comparison of Redmart and Honestbee

Chart: Similarweb.

Teo thinks the competition isn’t so much about the technology but about the services offered and the way they make users’ lives easier. “Our developer philosophy is around delighting the customers,” he says. “Our competition is really the fact that most people go to the supermarket, despite how inconvenient it is. That’s essentially where we make a difference – helping people transition from offline to online.”

Rupani hailed Teo’s hire as a “stamp of validation for Singapore’s maturing tech ecosystem and the quality of our own engineering core.” Teo himself sees Singapore as a promising opportunity for tech talent, as Silicon Valley is getting more crowded.

“For tech leaders who are interested in having impact, it’s much better to be in a smaller, growing environment where impact is more readily felt. You get to shape the ecosystem, to help build and grow the tech community,” he says.

Plus, what impacts Singapore has the potential of making a splash in the rest of the region as well, which is even more of an incentive for international talent. “If I were to speak to someone in Silicon Valley I would say, come experience and help shape a growing ecosystem, not only in Singapore, but in Southeast Asia,” he adds.

This post Redmart’s new head of tech spent nights stamping envelopes for his first startup appeared first on Tech in Asia.

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