Sign up for the Daily Newsletter, sent exclusively to our premium subscribers. We break down the big and messy topics of Asia’s tech and startup community. Get the newsletter in your inbox everyday with a premium subscription.
Hello reader,
Happy New Year! I hope your 2024 has been off to a good start. As the new year gets underway, I’m getting started on some of my goals for the year – such as reading at least 12 books, training to complete a 10-kilometer run, and being more conscious about my impact on the environment.
In a seamless segue, the startup featured in today’s premium story is also trying to address an environmental issue – water pollution.
Globally, there are 844 million people who lack safe drinking water, of which around 110 million live in Southeast Asia. Indonesia, for example, accounts for 21% of Asia Pacific’s water resources, but more than half of the country’s rivers are polluted.
Being able to treat wastewater effectively could help address these issues – read on to find out more about a startup who’s doing just that.
Today we look at:
- A company trying to change the way wastewater recycling works (try saying that five times fast)
- An ex-Grab exec’s new nature tech startup
- Other newsy highlights such as Zoomcar’s listing on the Nasdaq via a SPAC and Firstcry’s IPO plans
Premium summary
Water, water everywhere
Image credit: Timmy Loen
Wastewater recycling could help address the effects of water pollution and increase access to drinking water for people all around the globe. However, conventional wastewater technologies are reliant on chemical reactions with contaminants, which produces additional waste and consumes a lot of energy.
That’s where Singapore-based greentech startup Hydroleap wants to make a difference.
- A new approach: Hydroleap aims to provide wastewater recycling solutions through methods that consume less energy and don’t use chemicals. It’s also developing proprietary technology to tackle issues that occur with these processes.
- Money matters: While environmental, social, and governance goals are gaining momentum among companies, these aren’t enough to make a business switch to more eco-friendly alternatives in their operations, according to Hydroleap CEO Mohammad Sherafatmand. However, the firm says its solutions can help reduce carbon emissions as well as power and water consumption, allowing clients to save around 50% to 60% in costs – something that has helped it pick up some major clients.
- On the right track: Sherafatmand shares that Hydroleap’s revenue has grown 4.6x over the past 18 months. It aims to reach profitability in the next two years.
Startup spotlight
Save the planet
Image credit: Timmy Loen
Reuben Lai, who was previously the head of regional strategy at GXS Bank, has co-founded a new startup. Called Arkadiah, the Singapore-based nature tech firm aims to address the impact of deforestation in Southeast Asia.
- Tech for nature: Lai, who also serves as the firm’s CEO, describes Arkadiah as a company that “revives degraded lands through reforestation and agroforestry.” The firm uses AI to help implement its projects by tracking their impact and progress.
- Work in progress: Southeast Asia has one of the highest deforestation rates in the world, losing at least 1.2% of its forests each year. To address this, Arkadiah “aims to generate the highest quality carbon removal and biodiversity credits in the region and help contribute to food security,” says Lai.
- Big opportunity: According to the CEO, the nature tech sector is estimated to be a US$20 billion to US$30 billion market in the future.
See also: Southeast Asian investors bullish on electric bikes, clean energy in 2024
Kickstart 2024 with Singapore’s finest marketing, growth, and product leaders
Apply to join the closed-door executive roundtable for January 16
Are you prepared to leverage genAI and data intelligence in 2024? Businesses must embrace change and take advantage of the transformative capabilities of these new technologies if they want to retain discerning consumers who are spoiled for choice.
Singapore-based marketing, growth, and product leaders are invited to register for this executive roundtable and networking lunch so they can:
- Gain insights into the problem of rising customer acquisition costs and the shift from adtech to martech.
- Learn the latest best practices in hyperpersonalization by leveraging genAI tools to enhance customer engagement.
- Explore the potential of AI and data intelligence in predicting customer behavior.
- Discover the trends emerging in 2024 to stay ahead of evolving consumer needs.
The guest list will be capped at 15 participants, so register soon!
Quick bytes
1️⃣ Ain’t nothing to cry about
The parent firm of FirstCry, an India-based retailer of mom and babycare products, is looking to raise US$218 million through an IPO. Brainbees Solutions is reportedly aiming for a valuation of almost US$4 billion for the listing.
2️⃣ Zooming onto the Nasdaq
India-based Zoomcar has listed on the Nasdaq through a SPAC merger. The car-sharing firm aims to use the funds from the listing for its growth initiatives in emerging markets.
3️⃣ Playing fowl
Indonesian quick commerce startup Dropezy has rebranded as Sekilo and has started operating in the poultry processing and distribution business. The firm aims to provide “seamless” experiences for B2B buyers in the industry by digitalizing the value chain.
4️⃣ Health is wealth
Cispoly, a China-based manufacturer of equipment used in the detection of gynecological tumors, has raised US$14 million in a series B round. Established in 2020, the company has developed Ciscer, which allows for real-time cervical cancer detection.
5️⃣ Cars and cash
Revfin, a startup providing auto loans for electric vehicles in India, has bagged US$14 million in a series B round led by Omidyar Network. The company has disbursed funds for over 34,000 EVs.
6️⃣ P for proptech
Malaysia-headquartered proptech startup LiveIn has secured US$8.3 million in its pre-series B funding round. The company plans to use the new funds for its expansion efforts as well as for the development of new services.