#GenesisStories Archives

Neuron Mobility: Pioneering Sustainable Micromobility Internationally

Neuron Mobility, a leading Singapore-based shared e-scooter and e-bike operator, has swiftly gained prominence in the dynamic world of micromobility. As cities increasingly look for sustainable and safe transportation solutions, Neuron’s success in winning competitive tenders from forward-thinking cities underscores its reputation as an innovative urban mobility partner.

Since its inception in 2016, Neuron has been responsible for many e-scooter innovations. This has led to remarkable growth and the company now operates in 35 cities worldwide Neuron is the leading operator in Australia and New Zealand, and Canada, plus it also has operations in the United Kingdom.

In a conversation with Neuron Mobility’s CEO, Zachary Wang, we delve into the company’s origins and growth trajectory:

Tell us the origin and growth story of Neuron Mobility?

In 2016 my co-founder Harry Yu and I started Neuron in Singapore with the world’s first docked e-scooter system and the following year we rolled out the first shared e-scooter programme. The micromobility industry as we know it today did not exist back then, so in many ways, we had to pave the way as there were very few guidelines or other operators to learn from.

After testing our service in different cities across Southeast Asia for market fit, we made the strategic decision to concentrate our efforts on more regulated markets, with higher disposable incomes and better infrastructure for e-scooters and e-bikes.

Fast forward to today, Neuron is now the leading rental e-scooter company in Australia and New Zealand and as we complete our third year, in Canada we are the dominant micromobility operator there as well. Neuron now has a presence in over 35 cities around the world including Melbourne and Brisbane in Australia, Calgary in Canada, and Newcastle in the UK. We have learned a lot over the last few years and are incredibly excited about the opportunities for the future.

What is Neuron doing differently to achieve success where others have stumbled?

Neuron is first and foremost a tech company and we are well-known for innovating within the micromobility sector. We have introduced a long list of pioneering features like swappable batteries, integrated helmets, and advanced geofencing. It is not an exaggeration to say we have been leading the industry when it comes to introducing new technology.

Designing and building our own e-scooters and the systems that run them enables us to innovate quicker and more efficiently than other operators. We recently launched our all-new N4 e-scooter, the most rider-centric, sustainable, and toughest e-scooter ever built. It is purpose-built to win city contracts, increase our market share of riders, and importantly, lower our operational costs which significantly improves unit economics.

Another differentiator is our willingness to partner with cities – we often innovate specifically to meet their needs and they really appreciate this. We also prioritise safety which is a cornerstone of the company and this has helped us build trust among our most important stakeholders.

What are some of the positive impacts that Neuron’s e-scooter service is having on cities?

Our e-scooters make a significant positive impact in cities where we operate. They are replacing car journeys and in doing so, reducing harmful emissions and congestion. Additionally, e-scooters are a strong driver of prosperity, enabling riders to see more, do more, and spend more. Recent research showed two-thirds of all Neuron trips resulted in a purchase at a local business and in Australia, each e-scooter contributes a massive AU$70,000 per year to the local economy.

Our e-scooters have a broad appeal and the global gender split is now 60% males and 40% females, with more younger women than ever before using them to travel. Research has also shown that 5% of our riders have a disability or mobility issue, with many highlighting their benefits for allowing them to travel further and more frequently. We are also a local employer who invests in our people so they can advance their careers.

As cities worldwide strive for a more sustainable future, we’re proud to be providing a mainstream transport service that is delivering positive outcomes in the communities we serve.

Why did you pick Genesis as your venture lender?

We always strive to partner with organisations that deliver tangible value to our business. The Genesis team is no exception, they have played a vital role in helping to fuel Neuron’s international growth and technology leadership. This will continue to help drive us forward as we support more cities to achieve their sustainability goals.

Aonic: Revolutionizing Dronetech in Southeast Asia

In an exclusive interview, Cheong Jin Xi (JX), the visionary founder of Aonic, formerly known as Poladrone shares insights into the company’s journey, challenges, competitive advantages, and future aspirations.

The agritech sector in Southeast Asia is undergoing a transformation, thanks to Aonic, formerly known as Poladrone. Founded in 2016 by Cheong Jin Xi (JX), the company recognized early on the potential in the agritech space and has remained steadfast in addressing its unique challenges.

Aonic secured a significant seed funding round from Wavemaker Partners, Malaysian Technology Development Corporation (MTDC), ZB Capital, Genesis Alternative Ventures, and others.

We sat down with JX to delve deeper into the company’s journey, drone technology, and its impact on the agricultural industry.

Can you tell us about the Aonic origin story?

My journey with drones began before the birth of Aonic when my passion for flying objects led me to pursue an aerospace engineering degree. Our initial goal was simple: to make drones accessible to everyone, hence the name ‘Poladrone,’ a playful blend of Polaroids and Drones. This ethos still defines our company today.

Initially, we offered basic photography services, but we quickly pivoted towards providing analytics services across various sectors, including agriculture, oil & gas, telecommunications, and surveying. We realized that the true value of drones lay in the data we could capture at scale. As our analytics solutions matured, we received feedback from customers highlighting a pressing issue: labor shortages, particularly in agriculture.

This insight drove us to develop two specialized agricultural spraying drones: Oryctes, designed for precise point-to-point spraying in oil palm plantations, and Mist Drone, tailored for blanket spraying in open field crops. These drones are complemented by our AI-assisted aerial mapping software, Airamap Desktop, and the Oryctes Flight App for seamless flight planning.

Over the years, we’ve sharpened our focus on the agricultural industry. While other segments like surveying and mapping remain lucrative, we see agriculture as our primary growth area. In Southeast Asia, farms continue to rely on slow, inefficient manual labor. The opportunity for impact is immense. Today, we’re dedicated to integrating ourselves into the agricultural value chain by establishing 3S (sales, service, and spare parts) centers across key agricultural areas.

What are some of the challenges you faced initially and how did you overcome them?

While drones are widely known, many still associate them primarily with photography and recreational use. Awareness regarding enterprise and agricultural drones is lacking. This lack of awareness is just the first hurdle; the subsequent customer journey involving affordability, usage, and support is also broken.

To address these concerns, we took an ecosystem approach. This led us to establish our 3S centers and, more recently, the Aonic App. Together, these elements form a physical and digital ecosystem, serving as our center of excellence, an information-sharing hub, and an after-sales support provider. In simpler terms, it’s where we educate our customers, provide financing options, offer training, and service their drones physically and digitally.

What competitive advantages does Aonic hold over other drone solution providers?

Aonic’s competitive edge is twofold:

Product: Our products are proprietary, backed by patents. We design and manufacture the electronics of our drones in-house. In contrast, many drone providers source components from China, leaving them vulnerable to supply chain disruptions and confined within distribution territories.

Strategy: As I mentioned earlier, we’re building an ecosystem. Beyond our 3S centers and Aonic App, having proprietary products enables us to seamlessly integrate our drones with our solutions. For example, we can link Airamap Desktop, Oryctes Flight App, and Oryctes Drone for a seamless flight experience. Many drone solution providers focus solely on hardware sales, neglecting the broader customer journey.

Can you share some specific examples of how Aonic has successfully helped enterprises enhance their operations?

Certainly, let’s consider Sime Darby Plantation as an example. Traditionally they relied on conventional pesticide spraying methods, which posed challenges in terms of consistency, productivity, and worker safety due to labor shortages and chemical exposure.

With our Oryctes drones, they witnessed significant improvements in efficiency, outperforming manual spraying methods by up to 8 times. Furthermore, they gained valuable insights into chemical usage, which brought them closer to their Sustainable Development Goals. This includes reducing deforestation by improving yield per hectare, upskilling local talents, and enhancing workers’ quality of life.

Now, let’s consider a smaller-scale success story featuring Encik Ab Rahim, a smallholder farmer managing a 5-hectare paddy field. While he had been aware of agricultural drones and their potential benefits for several years, it was the establishment of an Aonic 3S center nearby that prompted him to embrace this innovative technology.

The presence of the 3S center gave him the confidence that Aonic would provide the necessary long-term support, including spare parts, maintenance, and knowledge sharing. Furthermore, Encik Ab Rahim availed himself of Aonic’s financing program, a strategic initiative that substantially lowered the barriers to drone ownership. The added benefit of free maintenance served as a compelling incentive for him to make the leap towards drone-assisted farming.

The adoption of Aonic’s Mist Drone marked a pivotal moment in Encik Ab Rahim’s agricultural journey – introducing higher levels of consistency and precision to pesticide spraying, while effectively eliminating the irregularities associated with manual methods. This boost in efficiency translated directly into a significant increase in his income, from $2,000 to $3,000.

Beyond the financial gains, the Mist Drone also offered intangible benefits. Given that Encik Ab Rahim is over 60 years old, he was no longer required to laboriously wade knee-deep into the paddy fields for extended periods. Thanks to the capabilities of the Mist Drone, he could now effortlessly cover his entire field, saving both time and energy.

The story of Encik Ab Rahim serves as a testament to the real-world impact of Aonic’s agricultural drone solutions, underscoring their capacity to not only drive financial growth but also enhance the quality of life for smallholder farmers.

Looking into the future, what are some of the key areas of growth and expansion that Aonic envisions beyond its current offerings?

We see our growth driven by two main aspects: providing more value add and expanding our 3S centers.

We aim to broaden our horizons by venturing into other agricultural products, offering more value along the agricultural value chain. Our ultimate goal is to become a one-stop platform for all agricultural needs.

Our relentless commitment to 3S center expansion will continue for the next 2-3 years. Agriculture is built on trust, and being closer to the community strengthens that trust. In the coming 1-2 years, we plan to focus on Thailand and Vietnam, two of the top three global rice exporters, while further fortifying our presence in Malaysia.

Can you share some insights into the team behind Aonic? What expertise do they bring to the table, and how does their collective experience contribute to the company’s success?

Our team operates on a fundamental principle: ensuring that our solutions offer sustainable value and sound unit economics, rather than pursuing unsustainable growth and burning through cash. Because of our financial prudence, we are already profitable.

We value team members with clear, logical thinking and a focus on execution, allowing each member to contribute according to their respective expertise. Moreover, we place a strong emphasis on past experience in traditional industries relevant to our services, such as agriculture and surveying. This enables our team to connect better with our customers.

We believe in internal training and development rather than hiring from competitors, as it helps foster the right approach and culture towards the technology.

With the rapid advancements in drone technology, how does Aonic stay ahead of the curve in terms of innovation and adapting to changing industry trends?

Maintaining a growth mindset is key to staying ahead in the ever-changing drone industry. Being young and dynamic, the industry is constantly evolving, and we must adapt continuously to remain relevant.

Our unique advantage lies in our ability to closely collaborate with some of the most advanced drone companies in China. Many of our team members are fluent in Mandarin and work collaboratively across various departments, from commercial to operations and research & development. This provides us with a front-row seat to upcoming technology trends before they are shared globally.

As Aonic continues to spread its wings, expanding its 3S centers and venturing into new horizons, they’re proving that the sky’s not the limit; it’s just the beginning. So, stay tuned, because in this drone-driven world, Aonic is the company that’s taking agriculture to new heights, one flight at a time.

From Parking Pandemonium To Soulful Serenity: Soul Parking’s Journey To Success

Kenneth Darmansjah is one of founders and CEO of Soul Parking, a technology-enabled parking solutions provider based in Indonesia. With his expertise in finance and business strategy, Kenneth has been instrumental in leading Soul Parking towards its mission of revolutionizing the parking industry in Indonesia.

Genesis talks to Kenneth about his journey and plans for Soul Parking.

Please share with us the origin story of Soul Parking. How did you come up with this ingenious solution to tackle the nightmare of motorcycle parking in Indonesia?

Picture this: you’ve just driven through Jakarta’s chaotic traffic, and your stress levels are already through the roof. You finally arrive at your destination, but finding a parking spot seems like an impossible task. And the population of motorized vehicles still rising in this hot and humid metropolis!

Having lived in Australia for six years, I asked myself, why is parking such a nightmare in Jakarta and yet more manageable elsewhere? What was even worse is that vehicle emissions are responsible for a whopping 70% of the city’s air pollution. To me, it became clear that the conventional parking business was no longer sufficient to meet the needs of Indonesia’s rapidly growing cities and was ripe for disruption. I was determined that there is a better and safer way for motorists.

That’s where Soul Parking comes in – with our innovative Compact Motorcycle Storage (CMS) and Soul Operating System (OS), providing hassle-free parking solutions. CMS is a multi-level portable parking solution for two-wheelers, while OS is a cloud-based software that digitizes existing parking buildings through data transparency provided for clients.

How did you come up with the interesting name, Soul Parking?

Soul Parking was hatched from the word “Soul” – where we wanted to convey a sense of comfort for drivers to experience hassle-free and stress-free parking amidst the chaos of the city. Interestingly enough, it also rhymes with the word “Solution”, both in English and Indonesian, and that reflects what we are trying to achieve through our innovative solutions.

What were some of the challenges you faced and how did you overcome them?

2020 was a turbulent ride for Soul Parking. Just one month after launching our first-ever Compact Motorcycle Storage in Central Jakarta, the global pandemic hit, resulting in stay-at-home orders and travel restrictions that heavily impacted our key target users: daily parkers.

However, we persevered and listened to feedback from our early users who appreciated the safety and convenience of our smart elevated parking system. To pivot our business strategy, we explored new revenue streams and partnerships, such as partnering with healthcare services to facilitate PCR tests, logistics companies, cloud kitchens, and automotive workshops.

Additionally, we invested in new technology that enabled automated parking systems, contactless payments, and real-time monitoring through our parking management dashboard. These initiatives have allowed us to weather the storm, successfully turning around our traffic volume to reach full capacity and broaden our services to cater to a wider range of vehicles and partners. Because of the challenges, we emerged stronger and more resilient than ever.

Let’s shift the focus to some of Soul Parking’s impressive achievements in the past two years. What are you particularly proud of?

Despite the challenging circumstances, we are proud to have secured over 30 locations in six highly saturated provinces across Indonesia, including some of the most congested areas like DKI Jakarta and Bali. Our partnerships with business owners and property developers in these areas have enabled us to cater to the high demand for parking and provide hassle-free solutions for millions of vehicles.

We are also thrilled that our innovative mobile app has been well-received by a diverse range of users. Our tech team works tirelessly to optimize its features, providing an intuitive interface and user-friendly design that allows for paperless ticketing, cashless payments, and monthly memberships. As a result, our mobile app has seen significant growth in users and high retention rates over time.

And in the face of economic uncertainty, we’re proud to prioritize healthy and positive unit economics, ensuring profitability across all sites. We’re pleased to report that we’ve been able to post a positive bottom-line at all sites, proving that our business model is resilient and not cash-burning. This is a humbling achievement for us and demonstrates our commitment to sustainable growth.

What and whom do you attribute your success to?

As an early-stage company, Soul Parking has only just started and we have a long way to go to achieve our ultimate goal of pioneering a leading tech-enabled parking solution in Indonesia. However, we have already accomplished some important milestones along the way.

Every day, I attribute our success to two groups of people. Firstly, I am grateful for the collective effort of each team member in Soul Parking who has contributed and played a crucial role in getting us where we are today. They are truly the backbone of our company, and without their support, we would not be where we are. I am grateful for our soulful talents who continue to push us beyond our limits and help us achieve greater success.

Secondly, the partners who believed in us and our mission to bring hassle-free, tech-enabled parking solutions to the chaotic streets across Indonesia. Our existing backers, such as Genesis Alternative Ventures, continue to provide strategic advice with key introductions that were instrumental in enabling us to achieve our milestones. All in all, we value all stakeholders’ support and are committed to ensuring that your trust in us continues to be well-placed.

What is your leadership style like?

As a leader, I believe that my role is to inspire and empower my team to achieve our collective goals. Drawing from my experience in the finance industry, I understand the importance of achieving results while maintaining a positive team culture. Rather than micromanaging, I take an empathetic approach to leadership, actively listening to my team’s concerns and providing the necessary support to help them succeed.

At Soul Parking, we have developed a set of founding principles that guide our team’s work: Simplicity, Openness, Unity, and Learn. By embracing these values, we strive for efficiency, encourage open communication, and foster a growth mindset. I encourage my team to share their ideas and celebrate diversity of thought, which I believe will lead to endless innovations and drive us towards our mission of revolutionizing parking.

Ultimately, I am committed to building a culture where every team member feels valued and supported, empowering us to reach our full potential together.

Do you have any advice for other founders of early-stage startups?

We know startups are a wild ride, but with the right mix of hustle, grit, and determination, you can make it happen. As a founder, it’s essential to have a clear and compelling vision that is grounded in a deep understanding of your target market. From there, focus on building a consumer-centric product and iterate until you find the perfect solution to solve your customers’ pain points.

Remember, your team is your greatest asset, so invest in building a strong foundation and the right culture from day one. Encourage open communication and empower your team to share their ideas and concerns. Together, you can overcome any challenges and achieve success. There are no shortcuts, but if you remain resilient, determined, and passionate, you will find your way to success. Keep pushing forward, and don’t forget to celebrate the small wins along the way.

Founded in 2016, Milieu Insight is a consumer research and analytics company that connects businesses directly with their target audience. Milieu’s platform offers businesses a wide range of tools for accessing, analysing, and visualising high-value and timely consumer opinion data to help power better decision-making and strategy in Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.

By leveraging technology and applying consumer research best practices, Milieu built an opinion-based insights platform to connect communities to organizations, making understanding consumer sentiments and behaviours quick, simple, and fun! Milieu’s mobile app user base has grown from 500,000 users in 2019 to over 2 million users in 2020. It has also increased its enterprise customer base by 300% to 180 customers as of October 2021, up from 45 at the start of 2020.

Recent news: Milieu has raised US$5 million in its latest funding round for product innovation, developing new software as a service-oriented consumer insight offerings, and expanding beyond South-east Asia (11 November 2021).

“Genesis believes that the consumer insights industry is due for a tech upgrade and the strong value that Milieu brings to corporates that want to know what their customers are thinking and where the trends are heading. When we first encountered their research and insights, we knew that Milieu was solving an important, real-world business problem of consumer insights and their approach could revolutionise the industry,” said Dr Jeremy Loh, Co-Founder and Managing Partner at Genesis.

The traditional market research industry was based on primitive methodologies and inefficient processes. Milieu was born out of a conviction that its co-founder and CEO, Gerald Ang, had — that market research should be there to make everybody’s life easier, not tougher. Therefore, he decided to build his own tech-driven automated research product that would operate more efficiently and intelligently, thus revolutionising the way market research is conducted. From Gerald’s perspective, the COVID-19 pandemic has disrupted many industries, but it has only been an accelerator in driving the acceptance of online research.

”Empowering people to share their opinions effortlessly has always been our goal. Our partnership with Genesis allows us to continue building on our positive momentum, improving the user experience of our solutions and reach a wider audience, without experiencing high shareholders’ dilution,” says Gerald.

Recent research published by Milieu include the silent mental health crisis in South-East Asia, the tipping point for switching to electric cars, and where E-wallets stand in the future of payments. Its innovation and insights have not gone unnoticed by the industry, winning the team nine industry awards since 2019, including Campaign Asia’s Most Valuable Product, Marketing Interactive’s Market Research and Programmatic Agency of the Year, as well as several Mobile Experience (Mob-Ex) awards.

Founded in 2015, Deliveree is a full service on-demand ground logistics marketplace platform powered by sophisticated mobile and web app technology that allows businesses to book and manage ground transportation of goods, cargo and merchandise. At the moment, Deliveree has about 90,000 active drivers.

Recent News: Deliveree Logistics has raised a total of $38.8M in funding from 7 investors, including Genesis Alternative Ventures.

Deliveree also aims to generate better income through its Driver Partner Benefits Program by lowering the costs of maintaining their vehicles which supports United Nations’ Sustainable Development Goals (Decent Work & Economic Growth, Goal 8). Employee data suggests that active drivers have seen a good improvement in earnings and corresponding standard of living.

“Deliveree is helping me save to start a family.” – Ari Susiyanto, Deliveree Driver Partner	“Deliveree has more than doubled my earnings. Now I can make more choices.” – Tarsan, Deliveree Driver Partner	“I struggle less with money each month since working with Deliveree.” – Pattana Juntakarn, Deliveree Driver Partner
Income Improvement 207%	Income Improvement 261%	Income Improvement 168%
Greater Jakarta, Indonesia	Greater Jakarta, Indonesia	Ladprao, Bangkok, Thailand

“Venture debt is a great financing option. It blends perfectly with the equity round and can help maximize a company’s valuation,” said Gagan Singh, Chief Financial Officer, Deliveree.

“We have a great working relationship with Deliveree and we are impressed with their commitment to improving the lives of their driver partners. Genesis will continue to support companies with impact objectives that are looking to scale Southeast Asia.” – Eddy Ng, Head of Investments & Portfolio of Genesis Alternative Ventures.

Founded in 2016, Flow is a credit management company that is transforming the business of unsecured consumer finance through AI technologies and ethical practices in Asia. Flow is constantly looking out for opportunities to promote responsible collection and financial inclusion to empower consumers in underserved economies.

Recent news: Earlier this year in March, Flow became a member of Asosiasi FinTech Pendanaan Bersama Indonesia (AFPI). With this alliance, Flow will be in a stronger position to transform the credit ecosystem in Indonesia through literacy movements and ethical collection.

Flow supports United Nations’ Sustainable Development Goals (Industry, Innovation & Infrastructure, Goal 9). In the last year alone, Flow has created 362 full time and part time jobs per portfolio company. From which, 50% of these job positions are filled by women. Flow has also helped more than 150,000 borrowers.

According to Flow, the problem of debt bondage can become a time bomb, especially during a pandemic. To combat this, Flow recently organised a Financial Literacy Webinar titled “Financial Literacy & The Responsibility of Financial Institutions” to provide financial literacy education for the wider community in Indonesia.

On top of that, Flow will be launching a new function, FlowCares. Through FlowCares, borrowers will be able to access a self-service portal powered by AI which allows the borrower to bypass uncomfortable conversations with another human being on the subject of loan repayments.

“We have evaluated the Fintech value chain and were very impressed with Flow’s commitment to transform the decades-old debt collection business using AI and ethical practices. Genesis is a returns-first, scaled impact venture lender who wants to back growth-stage companies with impact objectives such as financial inclusion, sustainable food production, small business digitisation and gender diversity, that are looking to scale across Southeast Asia.” – Dr. Jeremy Loh, Managing Partner of Genesis Alternative Ventures.

“This funding from Genesis is another major milestone for Flow and for our debt portfolio purchase business in particular. In keeping with our mission, we can reach out to further support consumers in overcoming financial difficulties,” said Tomasz, CEO & Co-founder, Flow.

Catch Arun Pai, Chief Sales and Strategy Officer from Flow at the Genesis Forum where he and other industry leaders discuss “Accelerating Financial Inclusion Across Southeast Asia Through Fintech”.

“At the time I was trying to determine what kind of business and life I wanted to commit my time to. I was trying to find my calling.” Shortly after Peggy quit her job in finance, she founded Lynk Global in 2015, a platform where businesses can gain access to a pool of mentors and experts. Lynk Global’s network now has more than 840,000 knowledge partners and has pioneered the idea of selling knowledge as a service on a global scale.

“Genesis is in the ecosystem talking to a lot of venture capital firms. It’s a good way for Lynk to be more recognised and it drives our brand awareness,” said Peggy Choi, CEO & Co-founder, Lynk.

Recent news: Lynk, an AI-driven knowledge-as-a-service platform, and UBS, the world’s leading global wealth manager and a provider of financial services, are collaborating to help UBS’s institutional clients globally to enhance the integration of expert access into their investment process. This collaboration comes on the heels of Lynk’s $24M funding round led by Brewer Lane Ventures and MassMutual Ventures, bringing the company’s total funding to $30M.

Impact & ESG

While women and people of colour are often underrepresented in tech, diversity is in the company’s DNA. According to an interview with Bloomberg, Peggy mentioned the following:

Lynk’s Diversity Metrics:

51%:49% female to male ratio
20+ nationalities, across 8 offices
Team speaking over 20 languages

Source: https://lynk.global/in-the-news/lynk-founder-ceo-interview-on-bloomberg-tv

Lynk also focuses on building a diverse database through initiatives and campaigns such as Lynk Elite Expert Women (a female leaders focused campaign to recruit more expert women to its network with aims of ensuring more gender-balanced insights), Malala Fund Education Champion Network (Lynk donates to the charity every time a female expert joins its network and Redress & The R Collective (Lynk commits to limiting waste and operate out of co-working spaces promoting shared use of company resources) which supports United Nations’ Sustainable Development Goals (Quality Education, Goal 4), (Gender Equality, Goal 5) and (Responsible Consumption & Production, Goal 12).

“Not only is Lynk leading the way in democratizing access to knowledge, they also have a strong impact commitment. Genesis is proud to support Lynk and we look forward to its future growth.” – Martin Tang, Co-Founder of Genesis Alternative Ventures.

Founded in 2016, TaniHub has more than 45,000 farmers and 350,000 buyers in its network. Farmers are able to earn more for their crops due to the streamlined distribution channels where there are fewer middlemen between farms and the restaurants, grocery stores, vendors and other businesses that buy their products. It does this through three units: TaniHub, TaniSupply and TaniFund.

Recent news: TaniHub Group, an Indonesian startup that offers a technology-driven platform to better match supply and demand in the Indonesian agricultural and fresh produce sector recently raised a $65.5 million Series B.

During Pamitra’s time with the local farmers in Indonesia, he repeatedly heard complaints about how difficult it was to sell produce. “I never thought of myself as an entrepreneur. At the time, I just wanted to help the farmers get access to the markets.” If he could help farmers get their products to market more efficiently and reduce price disparity between farmer and buyer, they could increase their earnings and improve their lives.

Being a capital-intensive business, TaniHub raised debt from Genesis as they needed warehouses to wash, sort and pack the harvests before delivering to the buyers. If they were to raise equity, “the founders will get diluted significantly,” said Pamitra Wineka, CEO & President, TaniHub.

Impact & ESG

TaniHub aims to improve farmers’ access to credit, increase incomes of farmers, practice demand-supply matching which leads to waste reduction and engage in sustainable agricultural practices which supports United Nations’ Sustainable Development Goals (No Poverty, Goal 1), (Decent Work & Economic Growth, Goal 8), (Responsible Consumption and Production, Goal 12) and (Climate Action, Goal 13).

“We are delighted with the robust quality of our portfolio companies, especially since a growing number of them are making a positive impact to society and the environment, underscoring Genesis’ profit-for-purpose commitment.” – Ben J Benjamin, Co-Founder of Genesis Alternative Ventures.

“When we met with the Genesis team, we really liked their vision. They are social impact driven which is the soul of our business,” said Pamitra. TaniHub’s data indicates that the farmers have seen a major improvement in terms of standard of living.

More than 30,000 smallholder farmers have been onboarded into the TaniHub ecosystem
Farmers in TaniHub’s platform have recorded at least a 20% increase in their income
Farmers who have participated in TaniFund have generated an additional 50% in income

Source: https://about.tanihub.com/blog/read/tanihub-group-raih-pendanaan-seri-a-plus-sebesar-us17-juta-untuk-menjangkau-100000-petani-pada-2021

Watch Pamitra Wineka at the Genesis Forum where he and other industry leaders discuss “Ketahanan”: The Resilience of These Indonesia Start-ups.

Founded in 2013, Trusting Social delivers AI-led products to leading banks and finance companies, enabling them to provide credit to under-served consumers at scale. Today, Trusting Social’s credit insights cover more than a billion consumers and are used by more than 130 financial institutions across Vietnam, Indonesia, India and the Philippines.

Recent News: Headquartered in Singapore and operating across Vietnam, Indonesia, India and the Philippines, AI Fintech Trusting Social announced an undisclosed venture debt financing with Genesis Alternative Ventures.

“We have enjoyed a great partnership with Genesis. Venture debt solution allowed us to raise growth capital without high dilution. They have also been very supportive of our business through introductions to potential clients and partners,” said Jaideep Lakshminarayanan, CFO, Trusting Social.

“We are excited to be supporting Trusting Social’s growth as they increase their breadth of product offering, helping banks and financial institutions to increase their reach to the under-served consumers.” said Eddy Ng, Head of Investments and Portfolio at Genesis.

Impact & ESG

On top of providing AI-led products, Trusting Social is on a mission to fill that gap by providing credit scoring and improving access to financial services for such consumers which supports United Nations’ Sustainable Development Goal (Industry, Innovation & Infrastructure, Goal 9).

“Our ambition is to enable financial inclusion on an unprecedented scale, and Genesis will be helping us frame our reporting for this purpose.” – Nguyen Nguyen, Founder & CEO, Trusting Social.

Trusting Social’s data indicates that there are more than 1 billion borrowers scored in Asia with about 1 million customers enabled every month.

Catch Jaideep at the Genesis Forum where he and other industry leaders discuss “Accelerating Financial Inclusion Across Southeast Asia Through Fintech”.

Learn-how-companies-benefit-from-venture-debt-to-complement-their-equity-fundraises-at-early-stages-of-growth..webp

Watch this video to learn how companies benefit from venture debt to complement their equity fundraises at early stages of growth.

In this video, the following founders from Genesis’ portfolio companies share why they chose venture debt and how they benefited from it:

Tanihub’s agritech business is a capital intensive one that needed a significant amount of investment. They leveraged venture debt to minimise equity dilution.
Proptech Gowork approached venture debt with the aim of diversifying their capital structure to minimise dilution. They also benefited from Genesis’ business guidance along the way and introductions to prospective clients and investors for subsequent fundraising.
With Genesis’ strong relationship with many Venture Capital firms in the ecosystem, Lynk Global found it a good way to gain more recognition.

Neuron Mobility: Pioneering Sustainable Micromobility Internationally

Neuron Mobility: Pioneering Sustainable Micromobility Internationally

Aonic: Revolutionizing Dronetech in Southeast Asia

Aonic: Revolutionizing Dronetech in Southeast Asia

Soul Parking’s Journey to Success

Milieu Insight Revolutionises Traditional Research, Bringing Real-Time Consumer Insights to The Forefront, Seamlessly

Deliveree Logistics has raised a total of $38.8M in funding from 7 investors, including Genesis Alternative Ventures.

Earlier this year in March, Flow became a member of Asosiasi FinTech Pendanaan Bersama Indonesia (AFPI)

Lynk, an AI-driven knowledge-as-a-service platform, and UBS, the world’s leading global wealth manager and a provider of financial services

TaniHub Group, an Indonesian startup that offers a technology-driven platform to better match supply and demand in the Indonesian agricultural

Trusting Social delivers AI-led products to leading banks and finance companies, enabling them to provide credit to under-served consumers at scale.

Learn how companies benefit from venture debt to complement their equity fundraises at early stages of growth.