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Wavemaker Partners launches first-of-its-kind climate tech venture builder in SE-Asia, with US$25M target for its first fund

Wavemaker Impact will join forces with proven tech and sustainability entrepreneurs in Southeast Asia to reduce global carbon emissions by 10% by 2035

SINGAPORE – Media OutReach – 28 October 2021 – Wavemaker Partners has launched Wavemaker Impact, a first-of-its-kind climate tech venture builder in Southeast Asia, targeting to raise US$25 million for its first fund. Climate change is an existential threat for the region, with three of its largest cities facing the threat of being underwater by 2050. The founders of Wavemaker Impact believe that entrepreneurs will drive solutions to climate change and aim to launch companies that will reduce 10% of global emissions by 2035.

 

Caption: Founding members L-R: Quentin Vaquette, Doug Parker, Marie Cheong, Paul Santos, and Steve Melhuish.

The founding team at Wavemaker Impact comprises veterans that have invested in and helped build over 35 sustainability startups, and have stellar track records in growing successful and scalable businesses. They include Steve Melhuish, PropertyGuru founder and impact investor; Doug Parker, ex-COO of Nutonomy; Paul Santos, Managing Partner of Wavemaker Partners in Southeast Asia; and Quentin Vaquette and Marie Cheong, who built more than 10 climate tech startups during their time at ENGIE Factory, the Asia-based venture arm of a global low-carbon utility.

 

Tapping on the Wavemaker platform, Wavemaker Impact entrepreneurs will have access to a network of global investors, advisors, and corporate partners.

 

According to Marie Cheong, “With existing technology, we already have the solutions to cut global carbon emissions by 50%, but we need to create incentives to disrupt traditional businesses, change behavior, and drive adoption.”

 

Wavemaker Impact has identified high-growth and scalable opportunities in climate change with a total potential market worth S$2.7 trillion in Southeast Asia alone, and is looking for investors, entrepreneurs, and founders to join them in their rapid decarbonization efforts.

 

Cheong outlines the role that Wavemaker Impact is playing: “A lot of entrepreneurs want to make an impact, but don’t know where to start and that’s where we come in.”

 

Steve Melhuish elaborates on their way of working: “Unlike other climate funds, we don’t just write checks—we roll up our sleeves and co-found these businesses, helping identify the biggest opportunities, acquire the first customers, develop scalable business models, build product prototypes, and build the best teams.”

 

The Wavemaker Impact team has already identified over 50 opportunity areas with the potential to reach US$100 million in annual recurring revenue and abate 100 million metric tons of carbon at scale—what they call ‘100 x 100 companies’. These high-growth opportunities present themselves in sectors like land use and carbon sinks, agriculture and food, industrial processes, and energy. The team aims to target the biggest sources of carbon emissions in Southeast Asia—where significant impact is possible.

 

Launching a climate-focused fund is a natural move for Wavemaker Partners, as the firm itself is committed to sustainability, with a number of initiatives over the last 18 months. The VC launched “Green Wave” last year to help the Wavemaker team and its community become more sustainability-focused—some of the efforts taken under the initiative include going carbon neutral, mapping its portfolio of startups against the UN Sustainable Development Goals, and running sustainability workshops for founders.

 

Paul Santos adds, “We know what successful ventures look like in Southeast Asia and we have the expertise. We are all set to go. All we are looking for is like-minded people to join us on this exciting journey.”

About Wavemaker Impact

Wavemaker Impact is a climate tech venture builder that co-founds sustainability-focused businesses in Southeast Asia with proven entrepreneurs. It aims to rally individuals, investors, and businesses who care about the planet, and want to make a rapid, tangible change in the reduction of carbon emissions.

https://wavemakerimpact.com/

#WavemakerImpact

About Wavemaker Partners

Wavemaker Partners is Southeast Asia’s go-to VC firm investing in enterprise and deep tech startups. Since 2012, it has backed 140+ companies, of which 120+ (85%) are in enterprise and deep tech. The firm has US$180 million in AUM across three funds in the region and has seen 10 exits valued at close to US$700 million. Today, 70% of Wavemaker’s active portfolio startups in Southeast Asia are aligned with at least one UNDP Sustainable Development Goal.

https://wavemaker.vc/sea/

Residents Dissatisfied with Strict Lockdown in Luang Prabang

Residents of Luang Prabang dissatisfied with strict lockdown
A blockade in Luang Prabang during lockdown (Photo: Anita Preston / Evensong Film)

Residents in Luang Prabang are dissatisfied with the city’s strict lockdown restrictions, which see supermarkets and food delivery services closed.

Police Net Over Seven Thousand Kilograms of Illicit Drugs in Bokeo This Month

Truck carrying empty beer bottles filled with illicit drugs
A truck carrying empty beer bottles filled with illicit drugs.

Police have seized a total of over seven thousand kilograms of illicit drugs in Bokeo Province this month.

OxPay Appointed Exclusive Payments Provider for Thailand’s HIVE Ventures

  • Partnership with HIVE, which has more than 4,000 restaurants and 200 suppliers on its platform, started this month
  • Partnership to boost the Group’s operations in Thailand, expected to contribute positively to Group’s overall performance in next 12 months

SINGAPORE / BANGKOK, THAILAND – Media OutReach – 27 October 2021 – OxPay Financial Limited (SGX: TVV) announced today in a press release that it has been appointed as the exclusive payments provider for HIVE Ventures Ltd, Thailand’s first integrated food ecosystem, with effect from October 2021.

 

HIVE Ventures Ltd was founded in 2018 with the mission of building a strong food community. The platform, which is home to more than 4,000 restaurants and 200 suppliers, provides three services: (a) HIVE Marketplace, an online B2B wholesale and retail market for food businesses; (b) HIVE RI, which caters to the end-to-end business operations of restaurants, such as point-of-sale, inventory management, accounting and payments, as well as customer relationship management; and (c) Spoonwalk, which handles restaurant delivery orders and restaurant reviews by influencers and consumers.

 

Mr Henry Tan, Managing Director of OxPay, said: We’re very pleased to be appointed as the exclusive payments provider for HIVE Ventures, Thailand’s first integrated food ecosystem. This new partnership, which represents another growing market opportunity for OxPay, is expected to enlarge our footprint in Thailand. Barring any unforeseen circumstances, it is also expected to contribute positively to the Group’s overall performance in the next 12 months.

 

OxPay is focused on servicing merchants in the retail, transportation and food and beverage industries. Its wholly-owned subsidiary, MC Pay Pte. Ltd., which was established in 2005, holds a major payment institution licence in Singapore, and is regulated by the Monetary Authority of Singapore under the Payment Services Act 2019.

 

OxPay’s Merchant Payment Services segment provides payment processing services through its unified platform and smart software, which can be installed onto or integrated with any smart devices (including mobile phones, tablets, and smart point-of-sale terminals) for merchants with physical stores or integrated with online merchants’ websites and applications. OxPay’s second business segment, Digital Commerce Enabling Solutions, provides ancillary services such as the sale and lease of smart point-of-sale terminals, as well as both proprietary and licensed software-as-a-service which can be white-labelled. This segment also develops bespoke software solutions for its merchants.

 

Currently, OxPay has presence in four countries – Singapore, Malaysia, Indonesia and Thailand – with ambitions to become a regional player.

 

#OxPay

Vietnam Supports Laos in Fight Against Covid-19

Vietnam provides assistance to Laos amid Covid-19 pandemic
Vietnam provides assistance to Laos amid Covid-19 pandemic.

The Vietnamese government has provided Laos with a donation of USD 2.21 million as well as medical equipment worth over USD 5,000 in support of efforts to fight the Covid-19 outbreak.

Belkin announces a collaboration with famous Singer-songwriter, Victor Wong (Pin Guan), a 25 years veteran in the music industry

HONG KONG / SINGAPORE / KUALA LUMPUR, MALAYSIA – Media OutReach – 27 October 2021 – Belkin, a global consumer electronics leader, today announces a collaboration with a famous Singer-songwriter, Victor WongPin Guan. With his classically trained background in music and more than 25 years of being in the music and acting industry, Victor WongPin Guan is meticulous and highly discerning about sound quality and having sound true to life.  This made Victor WongPin Guan the natural selection for Belkin to work with him on our range of high-quality sound products from our SoundForm Elite speaker tie up with Devialet to the range of True Wireless earbuds that we have launched.



 

As a veteran musician highly associated as “The Prince of Mesmerizing tunes”, Victor Wong「Pin Guan」 spends his time creating soulful music and demands a high level of sound quality to reflect every note, and to pick up subtle qualities of his voice, and most importantly to deliver the emotion and the message of the song. “Music is my life’s work,” he said. “I want to enjoy high-quality sound whenever I can. Headphones or audio should not only reflect the subtle details of each song, but also have the convenience and intelligence of the latest generation of technology.” He uses SOUNDFORM™ ELITE Hi-Fi Smart Speaker with wireless charging capabilities and SOUNDFORM™ True Wireless Earbuds as part of his lifestyle whether at home or on-the-go.

 

“I have been following Belkin for a long time, and I love Belkin’s elegant, and professionally designed products, which not only provide me with a great audio experience, but also an immersive musical experience!” Victor Wong「Pin Guan」told us, “These high quality and intelligent products makes my life so simple and efficient.”

 

“We are so excited to be working with a veteran professional musician like Victor Wong 「Pin Guan」,” according to Jenny Ng, General Manager for Belkin Asia. “We wanted to work with someone who appreciated the stringent quality control we do around our sound and audio products and at the same time, someone tech-savvy, who appreciated the technology included in our Belkin products.”

 

SOUNDFORM™ ELITE Hi-Fi Smart Speaker + Wireless Charger


This SOUNDFORM™ ELITE speaker is a high-performing smart speaker that combines the extraordinary acoustic architecture of sound pioneer Devialet with fast wireless charging and Google Assistant.

 

With the technology of Devialet, you are able to feel the full resonant bass with crystal-clear detail at any volume. Devialet’s patented Speaker Active Matching (SAM®) technology makes high fidelity sound reproduction possible in this tiny sized speaker.  Devialet’s signature “Push-Push” dual woofer configuration also cancels vibrations creating an impactful sound experience with truly powerful bass.

 

Use Google Assistant to play music, find answers online, manage everyday tasks, and easily control smart devices around your home – just by using your voice.

With the capability of streaming music to more than one speaker simultaneously, one can enjoy adding multiple Belkin SOUNDFORM™ Elite speakers to experience an even more immersive listening experience in your home.

 

“The depth and clarity of the sound from Belkin’s SOUNDFORM™ ELITE with the power and accuracy of Devialet’s Push-Push and SAM technology brings the music to life” –Victor Wong Pin Guan

 

PriceHKD 2,698

PriceSGD 499

SOUNDFORM™ Freedom True Wireless Earbuds

Get rich, radiant sound with exceptional battery life in the SOUNDFORM™ Freedom

True Wireless Earbuds. Custom drivers activate superbly deep bass while maintaining clear mids and highs. The advanced clear-call technology and dual microphones provide amazing call quality. There’s up to 8 hours of non-stop playtime, plus another 28 in the charging case. As one of the first third-party accessories to work with the Apple Find My network you can track and locate the charging case using the Apple Find My app.*

 

“The “Find My” feature in Belkin’s SOUNDFORM™ Freedom has been a lifesaver!  I keep leaving it all over my home!”- Victor Wong Pin Guan

 

Additional Features

  • Latest Bluetooth 5.2  chipset for even more stable and reliable true wireless connection
  • Low latency for even better movie and gaming experiences
  • Use a Qi-certified wireless charging pad, or a USB-C cable, to charge the case; 15 mins of charge equals to 2 hours of music play time
  • Custom-design ear tips in 3 sizes ensuring the best fit, comfort and sealing.
  • IPX5 sweat and splash proof


PriceHKD 799

PriceSGD 149

SOUNDFORM™ Rise True Wireless Earbuds

Belkin’s SOUNDFORM™ Rise True Wireless Earbuds are designed to get you through even the longest days with an impressive 7 hours of charge in each earbud and another 24 hours in the wireless charging case. With a streamlined design to fit into the ear comfortably, this enables one to enjoy the pure studio sound the True Wireless Earbuds offer. Created with two microphones in each earbud means you’ll always be heard on calls. The IPX5 water resistance rating protects them rain or shine while easy-to-use controls offer the power to change volume, skip tracks, and take calls, all at your fingertips.

 

“The sound quality of the Belkin SOUNDFORM™ Rise has such a high fidelity that it reproduces music to the original recording and it fits perfectly in my ear – I don’t worry about it dropping off even during my workouts!”– Victor Wong Pin Guan

 

Additional Features

  • Latest Bluetooth 5.2 chipset for even more stable and reliable true wireless connection
  • Low latency for even better movie and gaming experiences
  • Use a Qi-certified wireless charging pad, or a USB-C cable, to charge the case; 10 mins of charge equals to 1 hours of music play time
  • Custom-design ear tips in 3 sizes ensuring the best fit, comfort and sealing.
  • IPX5 sweat and splash proof

PriceHKD 599

PriceSGD 99

PriceMYR 329

 

About Belkin

Belkin is an accessories market leader delivering power, protection, productivity, connectivity, audio and smart home solutions for a broad range of consumer electronics and enterprise environments. Designed in Southern California and sold in more than 50 countries around the world, Belkin creates products that empower people through technology whether at home, at work or on a new adventure. In 2018, Belkin International merged with Foxconn Interconnect Technology to bolster its global influence and remains forever inspired by people and the planet we live on.

© 2021 Belkin International, Inc. and/or its affiliates. All rights reserved.

All product names, logos, and brands are property of their respective owners.

#Belkin

Love, Bonito raises US$50MILLION in Series C funding to fuel category and international expansion

  • Southeast Asia’s largest omnichannel womenswear brand has its eyes set on evolving into a purpose-driven female ecosystem that supports Asian women around the world at every life stage
  • Fundraising round led by Primavera Capital Group with participation from Adastria and Ondine Capital
  • The funds will be used to bolster efforts in existing omnichannel markets and accelerate high growth international markets including Hong Kong, Japan, Philippines and the United States (US)

SINGAPORE – Media OutReach – 27 October 2021 – Love, Bonito today announced the close of its Series C funding round, raising a total of US$50Million. The round was led by Primavera Capital Group, a global investment firm whose previous investments include Alibaba, ByteDance, Yum China and Mead Johnson China. Adastria and Ondine Capital participated in the round too. Love, Bonito’s current investors include Openspace Ventures and Kakaku.com.

Proceeds from the fundraising will enable the brand to bolster efforts in existing omnichannel markets and supercharge international expansion in markets that collectively are experiencing triple digits year-on-year (YoY) growth. These key markets include Hong Kong, Japan, Philippines and the US. Furthermore, the company is exploring categories outside of fashion as part of its plan to create a female ecosystem.

(Above: Love, Bonito Senior Leadership Team)

 

Supercharging International Expansion

Since its launch in 2010, Love, Bonito has achieved impressive growth, expanding into 10 key markets which include those in Southeast Asia, namely Singapore, Malaysia, Indonesia, Philippines, Cambodia, and East Asia markets, namely Taiwan, Hong Kong, Japan as well as Australia and the US.

 

To date, Love, Bonito has achieved overall growth of over 120 per cent YoY in international markets, and overall growth of 208 per cent for its online sales. The company believes the Asian diaspora communities have extremely high potential, especially in the US, where online revenue growth exceeded 1,200 per cent YoY as of September 2021.

 

With the latest funding, the brand will double down efforts within markets such as Singapore, Indonesia and Malaysia that have omni-channel presence, while other markets such as Hong Kong, Japan, Philippines and the US will see an expansion in omni-channels, new business verticals, strengthening of local community engagement and key collaborations, as well as the continuous optimisation of user experiences.

 

“I am more excited than ever for what is to come in the next decade,” said Rachel Lim, Co-Founder of Love, Bonito. “The growth we see today would not have happened without #TeamLB and our #LBCommunity who consistently strive to support women in the different seasons of their lives. Being in the business of women has been our mission since day one, and we are finally venturing outside of fashion to bolster our offerings.”

 

Business of Women vs Business of Fashion

In line with the brand’s mission to empower the everyday Asian woman, plans are in place to increase offerings within the fashion line to include active apparel and accessories. The brand is also looking to venture into a content platform (LiBrary) as well as exploration into new categories (LaB) which will include wellness.

 

The category and product expansion strategy is informed and driven by data and community feedback garnered from several platforms, including the brand’s soon-to-be-launched artificial intelligence that delivers personalisation at scale for women globally, through data and machine-learning models. Other existing platforms that contribute to the insights and knowledge gathering include:

  • LBCommunity+: Love, Bonito’s loyalty programme that provides customers an all-access community and rewards experience
  • LBCreate: Love, Bonito’s social impact programme with the mission to bring women’s issues to the forefront and create actionable steps for the future

“We have built a strong foundation in understanding the everyday Asian woman in order to be pre-emptive in catering to her needs,” said Dione Song, CEO of Love, Bonito. “We are primed to become a true life partner for our community of women, in and beyond fashion. We have yet to see a womenswear brand from the region stand proud on the world stage amongst industry heavyweights and we want to be the first brand to achieve that, by being purpose-driven, community-focused and innovative.

 

“We want to extend our heartfelt thanks to our existing and new investors who bring deep consumer investment experience and recognise the potential of the Asian consumer, both within and outside of the region,” added Dione.

 

Lead investor Primavera provided a statement: “Love, Bonito has proven itself to be a one-of-a-kind, purpose-driven brand for women across all life-stages. Consumers are drawn by what the brand stands for and its mission to empower women around the world. Primavera is deeply impressed by how much the team has achieved over the last decade and looks forward to tapping into our understanding and experience in the global consumer sector to help elevate Love, Bonito to the next level. We are thrilled to join Dione and the rest of the team on this path-breaking journey.”

 

Love, Bonito’s first external institutional investor, Openspace said: “From day one, we believed in what the brand could achieve as a business led by women, for women. We are thrilled to now work alongside esteemed investors like Primavera to help write the brand’s next chapter.”

Series B lead investor Kakaku.com added: “We are delighted to be on the global stage with Love, Bonito, and will continue to support the brand’s data and tech strategies, especially on their entry into the Japanese market.”

 

In the next phase of its growth, Love, Bonito aims to shake up the fashion industry by creating a more meaningful impact on its community across all life stages. The brand is setting its sights on creating a thoughtful and well-rounded female ecosystem, supporting different facets of women’s needs within Asian countries and reaching further into the Asian diaspora communities across the globe.

 

About Love, Bonito

Designing for the key moments and milestones of a woman’s life, Love, Bonito’s comprehensive assortment features stylish and comfortable pieces for the modern Asian woman at home, work and play. Love, Bonito is the largest vertically integrated, omni-channel women’s fashion brand in the region today. We remain committed to relationship building and nurturance, imbuing soul into innovation with thoughtful design and dedicated community outreach.

For more information, please visit https://www.lovebonito.com/sg/about-us

#LoveBonito

Azbil Receives Frost & Sullivan 2021 Southeast Asia Building Automation Systems Customer Value Leadership Award for Second Consecutive Year

TOKYO, JAPAN – Media OutReach – 27 October 2021 – Azbil Corporation (Tokyo Stock Exchange code 6845) announced that it has received the prestigious Southeast Asia Building Automation Systems Customer Value Leadership Award for the second consecutive year from research and consulting firm Frost & Sullivan as part of their 2021 Asia-Pacific Best Practices Awards.



The Frost & Sullivan Best Practices Awards recognize best-in-class companies that have demonstrated excellence in their respective industries. Frost & Sullivan analysts identify award recipients based on in-depth interviews, analysis, and extensive secondary research. To determine best practices, they typically study companies’ revenues, market shares, capabilities, and overall contribution to the industry.

 

“Azbil Corporation consistently enhances and creates value for building owners and occupants with a building automation system powered by smart digital technologies. Its international best practices are tailored to suit the local context and trends in Southeast Asian countries to improve customer satisfaction and retention.


Despite COVID-19 upending the building automation segment in 2020 and 2021, Azbil leveraged this disruption to create pandemic response-as-a-service propositions with technologies and customized solutions for hospitals and many commercial facilities. Frost & Sullivan applauds the award recipient for its building automation system that creates value for customers with noteworthy building safety and operations improvements.” said Frost & Sullivan’s Director and Global Head of Buildings Research, Melvin Leong.

 

A detailed analysis report from Frost & Sullivan on Azbil can be found at the following URL.

https://www.azbil.com/press/pdf/211027-1.pdf

 

Based on the Group philosophy of “human-centered automation,” Azbil is contributing “in series” to the achievement of a sustainable society and continues to build long-term partnerships with customers.


About Azbil Corporation

Azbil Corporation, formerly known as Yamatake Corporation, is a leading company in building and industrial automation, using its measurement and control technologies to provide customers with high value-added solutions to make their operations more efficient and sustainable. Founded in 1906, Azbil serves customers across the globe in a broad range of industries and aims to contribute to people’s safety, comfort and fulfilment, and global environmental preservation. At the end of March 2021, Azbil employed over 10,000 people worldwide and generated ¥246 billion in revenue.

For more information, please visit https://www.azbil.com/.

#Azbil

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion. Contact us: Start the discussion.