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iO in Style: The SAP Fashion Customer Council Recap

The latest SAP Fashion Customer Council took place online on April 7th, 2022, where 25 of SAP’s strategic customers in fashion came together to discuss the industry’s latest innovations and pain points, with sustainability front and center on the runway. SAP.iO startups CarbonClick and Shippeo were chosen to present their comprehensive solutions that are solving SAP fashion customers’ biggest challenges, and most importantly, shared how their solutions are leading the way to a more sustainable future.

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wagely nets additional $8.3m in oversubscribed pre-series A funding

wagely, Asia’s fastest-growing financial wellness platform has raised $8.3 million in an oversubscribed pre-series A funding as the company scales its platform to help workers access their earned salaries on demand in Indonesia and Bangladesh. The funding comes in just seven months after securing its seed funding.

The oversubscribed round was led by East Ventures (Growth Fund) with participation from existing backers, including Integra Partners, the Asian Development Bank, Global Founders Capital, Trihill Capital, Blauwpark Partners, and 1982 Ventures which brings the total funding raised to $14 million in less than two years.

wagely also disclosed that it secured the backing of Central Capital Ventura, the VC arm of Indonesia’s largest private bank, Bank Central Asia (“BCA”). The investment into wagely underpins the commitment to expand the digital financial ecosystem and drive financial wellness solutions across Indonesia.

With stagnant incomes, rising costs of living, and lack of savings, workers are under daily pressure staying afloat financially. The options for this segment are very limited when faced with an urgent need for cash. The result is a vicious cycle of repeated reliance on payday loans and other costly financial products leading to omnipresent financial stress among the workforce. Launched in 2020, wagely is building a holistic financial wellness platform with earned wage access (“EWA”) at its core that lets workers of partner employers access their earned wages in real-time. The concept, which has been proven in several markets across the globe, has been adopted by some of the most renowned organizations, including Walmart, Pizza Hut, and Visa, to reduce turnover, enhance productivity, and increase business savings.

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Sustainable AI Turns Small Data Into Huge Results For Manufacturers And Researchers

Sparse modeling AI is edging out traditional deep learning to become the technology of choice for product manufacturers and medical researchers because it ticks off all the boxes for modern quality control: explainability, energy efficiency, and speed. Just ask some of the customers from Hacarus, a Japan-based startup that’s developed a standout AI-fueled visual inspection solution.

“Sparse modeling AI is a surprising revelation for our clients that need to innovate faster while meeting high-quality standards, whether it’s electric vehicles, luxury watches, or drug discovery,” said Kenshin Fujiwara, CEO and founder of Hacarus. “They’re amazed at how we’re tackling traditional AI’s dirty secret, reducing the high energy costs of data collection and training, which saves time and our planet’s resources.”

A green, explainable AI alternative

According to some studies, training a single AI model using traditional machine learning (ML) can equal the carbon emissions of five cars across their entire lifecycles. That’s because ML algorithms attempt to “understand” every detail gleaned from huge amounts of data from scratch. In contrast, sparse modeling doesn’t require training from tens of thousands of images to yield a strong model for prediction. Because it starts with built-in assumptions, restrictions, and hypotheses, sparse modeling saves time by ignoring what’s already known. This reduces computational time and energy consumption.

On the factory floor, manufacturers need far fewer samples of both good and bad product parts to train the AI model, speeding up visual product inspections to detect defects and anomalies without sacrificing sustainability. Inside research labs, sparse modeling yields more explainable AI. For example, scientists exploring new drug treatments can more easily distinguish chemical compound reactions. In one pilot project with a pharmaceutical company in Japan, Hacarus’ solution performed 56 times faster than a deep learning algorithm.

“Sparse modeling is ideal for any precision engineering equipment or research company developing advanced products with less data,” Fujiwara. “Electric vehicle parts are a great example because it’s a brand new sector. Automakers and suppliers can create a reliable, AI-based model with as little as 20 images. It delivers the equivalent results of deep learning in a fraction of the time and energy.”

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SAP Startup Spotlight: Accredify

Quah Zheng Wei is the Chief Executive Officer and co-founder of Accredify. Zheng Wei leads the team in establishing the company’s strategic vision and direction, focusing on business development, partnerships, and sales. He started his career in BNP Paribas Investment Banking where he worked on corporate finance deals in the Energy and Natural Resources team. He later joined FOMO Pay, a payments fintech startup as the Chief Partnership Officer, and helped them grow from 120 to 2000 clients within 12 months. In this interview, he talks about what Accredify has to offer, how its solution works, and what’s next for the startup.

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Smart IoT tracking startup Tag-n-Trac launches with $10M in new funding

“Internet of things” tracking startup Tag-n-Trac Inc. today launched out of stealth with $10 million in new funding.

Dell Technologies led the Series A round, with Merck Global Innovation Fund and Aerosafe Global also participating. Including the new funding, Tag-n-Trac has raised $11.8 million to date, according to data from Crunchbase.

Founded in 2020, Tag-n-Trac was founded with the goal of modernizing the entire logistics lifecycle. The company offers a full-stack IoT solution that integrates multiple modes of hardware, software and data technology to build smarter solutions that solve complex problems. The founding team consists of senior executives with engineering leadership experience in WiFi, Bluetooth, sensors and positioning technologies.

Tag-n-Trac says its platform offers complete, real-time visibility into the entire global supply chain ecosystem. The company’s technology combines low-cost “printable” hardware sensors and a sensor-agnostic software-asa-serivce platform to help shippers, logistics providers and manufacturers track goods’ location, status and condition from manufacturing to shipping to delivery.

The Tag-n-Trac platform, powered by wireless Bluetooth and cellular smart label technologies, grants a complete end-to-end view to help efficiently address production obstacles such as temperature excursions, tamper detection and potential diversions. Usable in various verticals, Tag-n-Trac works with supply chain partners, including multi-modal third-party logistics, enterprise resource planning, business intelligence software providers, and packaging and labeling manufacturers.

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For the Botsync team, collaborative automation will be key to accelerating digitalization in logistics

Digital transformation is playing a big part in the strategy and operations of businesses today. The market size for digital transformation will grow from $1.5 trillion annually this year to $2.8 trillion by 2025. And yet some businesses might find challenges in complexity, manpower, and resources.

In this TechNode Global Q&A with the founding team at Botsync, we learn how collaborative automation is geared toward addressing these challenges. The company is a robotics startup founded in Singapore that specializes in AMR-based (Autonomous Mobile Robot) automation solutions. Botsync has journeyed from seed funding and accelerator programs to securing a co-created innovation project with Bollore Logistics Singapore to transform its conventional warehouse handling with an AMR-based automation solution.

What are the key trends driving innovation in the logistics industry?

  1. Digitalization: Companies more than ever before are looking at digitalizing their entire supply chain starting at the factory floor. Having this level of transparency is key to making quick decisions to respond effectively to severe market conditions and staying competitive
  2. The increasing complexity of logistics: The complexity of logistics has grown significantly with the growth in e-commerce. Faster delivery expectations and every increasing type and size of parts being handled warrant significant growth in the entire logistics process.
  3. Minimizing contact points: In recent times, it is becoming critical to evaluate operations and find ways to ensure minimum human contact. With growing economic opportunities present in today’s digital age, the availability of general workers for manual logistics operations is decreasing all over the world. And with the bulk of logistics operations still dependent on manual labor, automation and digitalization will soon become crucial factors to ensure business continuity.
  4. Collaborative automation: With companies increasingly looking at automation implementations, automation systems need to be able to co-exist with other manual processes on the warehouse and factory. This is critical as most companies cannot afford a complete transition to an automated facility, hence collaborative robotics will be key to ensure a successful transition to automation.

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H3 Dynamics Launches World’s Most Advanced Drone Charging Station

H3 Dynamics announces the launch of DBX-G7, a brand new vertiport system for autonomous drone operations. Smarter, faster, and multi-modal with 5G and 4G, DBX was designed to scale on-going digitization efforts in safety compliance, maintenance and crisis management.

Applications range from smart cities across Asia to various types of industrial sites worldwide.

Developed during the COVID-19 pandemic, DBX-G7 is a direct response to the new telepresence and remote work paradigm. DBX performs all the functions of an on-site drone pilot: navigation, docking, stowing, battery charging, data retrieval, transmission, and cloud-based processing. Autonomous systems such as DBX help reduce the need for on-site presence and can help alleviate rising labour shortage pressures.

“With accelerating digitization, the need for structural scans is also growing while pilot availability is limited. We are looking to close the gap with our DBX autonomous drone stations.” Says Samuel Chauffaille, head of H3 Dynamics’ robotics systems division.

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NavVis Adds Fresh Funding To Fulfill Its Mission To Digitize Commercial Buildings And Assets

NavVis is a global leader in end-to-end solutions for reality capture and digital twins. The company is on a mission to bridge the gap between the physical and digital world by enabling immediate access to building information, anytime, anywhere. The NavVis product offering includes the world’s most advanced reality capture solution, which allows for rapid digitization of buildings and assets, and cloud-based digital twin software for the manufacturing and construction sector.

NavVis announced that they have received 25€m of fresh equity funding that complements the recent 20€m debt funding from the European Investment Bank (EIB), raising the total investment to 85€m. The round was led by Cipio Partners, with additional capital from previous investors, BayBGMIG, Target Partners, Digital+ Partners, and Kozo Keikaku Engineering, making NavVis one of the best-funded deep tech startups in Europe.

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SAP.iO Foundry Singapore Launches Sustainability Startup Program in Asia-Pacific and Japan

November 25, 2021 SAP SE (NYSE: SAP) today launched a sustainability-focused virtual startup program at SAP.iO Foundry Singapore. Six international startups have been selected by a jury of SAP experts and partners to join the program.

New ideas and innovative solutions are essential to uncover the impact of emissions and waste across every facet of a business. The selected startups use next generation technologies to drive sustainability outcomes for companies across Asia-Pacific and Japan (APJ), in areas such as climate action, circular economy, and socially responsible supply chains.

Over the next 13 weeks, the startups will have access to curated mentorship from SAP executives, exposure to SAP® technology and application programming interfaces (APIs), and opportunities to collaborate with SAP customers around the world.

“Achieving our sustainability goals will require all of us to work together at pace, as our planet’s time is running out,” says Paul Marriott, President SAP Asia Pacific and Japan. “Initiatives such as this SAP.iO Foundry program are critical in identifying, enabling, and promoting innovative solutions that can change how our customers’ business is run, and ultimately the impact we have on the world. This program not only helps start-ups accelerate their growth, but it’s also one of the quickest ways to bring the latest innovation to thousands of our customers globally.”

The following startups are participating in the sustainability in APJ program:

  • Ambee helps people to breathe clean air using artificial intelligence and machine learning techniques to analyze air quality, soil, micro weather, pollen, and more.
  • CarbonClick is a carbon credits marketplace that allows customers to purchase audited carbon offsets, as well as measure and reduce their carbon footprint.
  • givvable helps businesses to discover and track sustainability credentials, attributes and initiatives of suppliers.
  • Resync is a cloud energy management company which manages renewable assets, building energy and industrial energy.
  • Unabiz drives data-driven business efficiency through sensors, manufacturing and cloud platform services for smart metering, smart facilities management, smart logistics and supply chain.
  • WePower connects corporate energy buyers and retailers with green energy generators so all businesses, regardless of size, can purchase locally produced green energy at competitive rates with full transparency.

About SAP.iO
SAP.iO delivers new partnerships and products for SAP by accelerating and scaling startup innovation as well as incubating employee ventures. SAP.iO brings together innovators from every region, industry, and line of business to transform how businesses run. Since 2017, SAP.iO has helped 330+ external startups and internal ventures accelerate their growth while enabling thousands of SAP customers to access innovation. For more information, visit https://sap.io/.

H3 Dynamics Launches World’s Most Advanced Drone Charging Station

H3 Dynamics announces the launch of DBX-G7, a brand new vertiport system for autonomous drone operations. Smarter, faster, and multi-modal with 5G and 4G, DBX was designed to scale on-going digitization efforts in safety compliance, maintenance and crisis management. Applications range from smart cities across Asia to various types of industrial sites worldwide.

Developed during the COVID-19 pandemic, DBX-G7 is a direct response to the new tele-presence and remote work paradigm. DBX performs all the functions of an on-site drone pilot: navigation, docking, stowing, battery charging, data retrieval, transmission, and cloud-based processing. Autonomous systems such as DBX help reduce the need for on-site presence, and can help alleviate rising labor shortage pressures.

“With accelerating digitization, the need for structural scans is also growing while pilot availability is limited. We are looking to close the gap with our DBX autonomous drone stations.” Says Samuel Chauffaille, head of H3 Dynamics’ robotics systems division.

H3 Dynamics has been deploying its AI-enabled digital inspection solutions to address the many thousands of high-rise buildings that require regular inspections in Singapore, most of which use using piloted drone operations. The company has expanded its solution through strategic partnerships, including on a SAP connectivity to send repair work orders directly from H3 Dynamics’ digital platform (see video). Enterprise software giant SAP and H3 Dynamics are now working together on an increasing number of industrial use cases.

Full Article found at : H3 Dynamics Launches World’s Most Advanced Drone Charging Station – UASweekly.com

 

 

H3 Dynamics closes US$26M Series B to introduce long-range hydrogen-air logistics solutions

Singapore-headquartered advanced aerial mobility company, H3 Dynamics Holdings, has completed its US$26 million Series B investment round led by Japan’s SPARX Mirai Creation Fund (backed by Toyota Motor and SMBC).

Singapore’s EDBI, ACA investors, Capital Management Group, the Grosvenor Group, Audacy Ventures, Ascent Hydrogen Fund, and French strategic investors ATEQ also joined the round.

“Our investors recognise that this is a long journey and that we must first address our immediate markets while solving key technical and regulatory challenges before adding more complexity,” said H3 Dynamics founder and CEO Taras Wankewycz.

In June 2019, e27 reported that the startup was in the process of closing a US$16 million Series B round, led by SPARX Mirai Creation Fund.

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Airwallex Named to the 2021 CB Insights Fintech 250 List; Recognized as Top Fintech Startup for Fourth Successive Time

CB Insights today named Airwallex to the fourth annual Fintech 250, a prestigious list of emerging private companies working on groundbreaking financial technology. This year’s list was unveiled on stage at CB Insights’ Future of Fintech conference in New York City.

“This is the fourth class of the Fintech 250, and it’s also the most international, representing 26 countries. These 250 fintech startups are attacking an incredibly diverse array of financial services opportunities across 19 sectors, including digital banking, insurance, payroll, retail investing, and more,” said CB Insights CEO Anand Sanwal. “After being named to the CB Insights Fintech 250 last year, the 2020 class saw 17 companies go public and 25 get acquired. They also went on to raise over $25B in additional financing and forged more than 380 new partnerships after being recognized. The Fintech 250 has a history of spotlighting the very best fintech companies, and this year is no different. We’re excited to see how these fintech startups disrupt and transform financial services in the years ahead.”

Lucy Liu, Co-founder and President of Airwallex said, “As a leading global fintech business, we are delighted to have been recognized by CB insights in all four of their Fintech 250 lists, which is a testament to Airwallex’s tremendous growth since our inception in 2015. This is just the beginning, and as we continue to expand globally, we remain committed to our mission of empowering businesses of all sizes to grow without borders.”

Through an evidence-based approach, the CB Insights Intelligence Unit selected the Fintech 250 from a pool of over 17,000 companies, including applicants and nominees.They were chosen based on several factors, including data submitted by the companies, company business models and momentum in the market, and Mosaic scores, CB Insights’ proprietary algorithm that measures the overall health and growth potential of private companies.

Founded in 2015, Airwallex is one of the fastest-growing global fintech platforms today and has seen significant business growth in the last year, recording a year-over-year revenue growth of nearly 150% for the first half of 2021, and processing more than annualised US$20 billion for a global client portfolio that has quadrupled in size, serving innovative global businesses such as GOAT, Papaya Global and Stake. The company has nearly doubled its headcount in 2021 and employs almost 1,000 employees today in over 20 locations globally. In September 2021, the company announced its US$200 million Series E fundraising round, valuing the company at US$4 billion. This year, Airwallex launched a series of new products and reached major milestones with its global expansion plans, opening for business in the U.S. in August, as well as securing an EMI license in the Netherlands and a Money Services Business license in Malaysia.

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Airwallex raises $200M at a $4B valuation to double down on business banking

Business, now more than ever before, is going digital, and today a startup that’s building a vertically integrated solution to meet business banking needs is announcing a big round of funding to tap into the opportunity. Airwallex — which provides business banking services directly to businesses themselves as well as via a set of APIs that power other companies’ fintech products — has raised $200 million, a Series E round of funding that values the Australian startup at $4 billion.

Lone Pine Capital is leading the round, with new backers G Squared and Vetamer Capital Management, and previous backers 1835i Ventures (formerly ANZi), DST Global, Salesforce Ventures and Sequoia Capital China also participating.

The funding brings the total raised by Airwallex — which has head offices in Hong Kong and Melbourne, Australia — to $700 million, including a $100 million injection that closed out its Series D just six months ago.

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Airwallex Raises Funds at $4 Billion Valuation for Expansion

Airwallex Cayman Ltd. raised $200 million to accelerate its expansion in global payments as it taps investors keen on fast-growing fintechs. The Australian company attracted funding from investors led by Lone Pine Capital, boosting its valuation to $4 billion after the series E round, the company said in a statement on Monday. Other new investors include G Squared and Vetamer Capital Management.

“We want to accelerate our growth in the U.K., Europe and U.S.,” Jack Zhang, chief executive officer of Airwallex, said in a phone interview. He added that the company wants to “become a dominant leader in global payments.”

Airwallex’s fundraising comes just months after a round in March that gave the firm a valuation of $2.6 billion, underscoring the rapid growth in online payments. Last month Square Inc., the digital-payments platform led by Twitter Inc. founder Jack Dorsey, agreed to buy Australian buy-now, pay-later company Afterpay Ltd. for $29 billion.

Airwallex helps businesses set up bank accounts, process multicurrency payments and manage expenses. While the company has numerous Chinese clients including Tencent Holdings Ltd.’s WeChat, retailer JD.com Inc. and online learning platform 51Talk, its focus on cross-border payments has kept it clear of a regulatory crackdown on other parts of the country’s financial system.

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SAP.iO Foundry Singapore Kicks-Off “Future of Work” Startup Program

September 14, 2021 SAP SE (NYSE: SAP) launched a virtual startup program focusing on human resources (HR) technology and the future of work solutions at SAP.iO Foundry Singapore in collaboration with SAP SuccessFactors. The six international startups have been selected by a jury of SAP experts and partners to join the program.

Over the next 13 weeks, SAP will accelerate these early-stage startups that are focused on recruiting, talent and team management, and wellbeing solutions. The startups will have access to curated mentorship from SAP executives, exposure to SAP® technology and application programming interfaces (APIs), and opportunities to collaborate with SAP customers around the world. The program will conclude with the SAP.iO Cohort Demo Day in December 2021.

“We are operating at a time where every industry has been disrupted, and almost every organization is undergoing some kind of transformation. People are at the core of this transformation and the heartbeat of business. We see a continuing trend of leaders looking for innovative ways to empower people with the information and capabilities they need to succeed in a digitized world,” said Aaron Green, Head of SuccessFactors, SAP Asia Pacific & Japan. “By partnering with SAP, these startups are joining an innovative ecosystem, and we look forward to working together to accelerate digital transformation for our customers in the world of Human Experience Management.”

The following startups are participating in the SAP.iO Foundry Singapore program:

  • Accredify empowers organizations to create, issue, and verify digital credentials like educational certificates and employee records. Employers and third-party verifiers can check if credentials are certified true copies without time consuming manual cross-referencing.
  • Boldly’s platform enables both coaching and mentoring in one place. With the largest global database of professional coaches, Boldly ensures both coaching and mentoring culture can scale with exceptional operations, coaching and mentoring resources.
  • Tagvance’s personnel and asset tracking solution provides real time and high precision location tracking of people and assets in industrial spaces for improved safety and productivity.
  • Talent Games helps companies find and assess top millennial talent using recruitment games. Talent Games’ gamified candidate assessments are scientifically proven to accurately evaluate each candidate’s personality, cognitive ability, aptitude and behavior, all while they play the game.
  • Wagely empowers companies to provide employees with affordable and sustainable financial services, including access to earned wage access (EWA). This allows employees to access already earned but unpaid wages to reduce financial stress and boost their productivity, motivation and retention.
  • Springday is a B2B software-as-a-service platform with wellness programs, assessment tools and content to enable employees to be happier and healthier. 

About SAP.iO
SAP.iO delivers new partnerships and products for SAP by accelerating and scaling startup innovation as well as incubating employee ventures. SAP.iO brings together innovators from every region, industry, and line of business to transform how businesses run. Since 2017, SAP.iO has helped 300+ external startups and internal ventures accelerate their growth while enabling thousands of SAP customers to access innovation. For more information, visit https://sap.io/.