Edtech’s got some soul-searching to do

More: Another departure at SoftBank Vision Fund, and an Indian social commerce startup’s SOSV backing [Read from your browser]( Daily Newsletter Hello {NAME} Growing up, I’d never been a great student - my report card was pretty much a love letter to my failures in Mandarin Chinese and the sciences, and teachers often called me a dreamer. If only online classes had been the way of the world then. While that’s the reality for students in India and Indonesia today, edtech has presented its own set of opportunities and challenges. Today we look at, - Why [edtech might need to be reexamined]( as it powers ahead - A Malaysian peer-to-peer startup’s US$20 million funding - Other newsy highlights such as Shopee’s venture into Brazil and a Chinese self-driving startup’s fresh funds  ---------------------------------------------------------------  PREMIUM SUMMARY  Unpacking edtech’s moving parts Pre-recorded videos, an abundance of reading material, and the freedom to attend classes remotely: For students in India and Indonesia, such is the order of things in the new normal. While it sounds well and good on paper, the limitations of edtech are quickly becoming apparent. Could it merely reinforce a culture of systematic education, and are students really paying attention in virtual school? - All for edtech: Technology is an equalizer - a vehicle that offers everyone equal access to quality education. But it can just as easily adopt the malaises of traditional education, such as the reliance on rote memorization, which has long been the case in Indonesia’s public schools. On the other hand, edtech can help expand a teacher’s horizon of influence and connect with students, regardless of geographical location. - Winner takes all: Edtech firms are finding novel ways of capturing and retaining children’s attention. Indonesia’s Ruangguru, which has over 23 million registered users from ASEAN countries, uses AI to generate recommendations for users and has virtual pets that double up as study companions through its app. - A hybrid future: Edtech looks to be shifting toward a hybrid model - and India’s largest edtech firm, Byju’s, is leading the way with its acquisition of offline tutoring center Aakash. After all, virtual classrooms can’t replicate the different communication skills picked up in real life, such as societal team building or behavioral cues in an actual classroom. Read more: [Edtech needs to do some soul-searching as it powers ahead](  ---------------------------------------------------------------  STARTUP SPOTLIGHT  P2P financing platform CapBay scores US$20m CapBay - a Malaysian multibank supply chain finance company and peer-to-peer (P2P) financing platform - has secured US$20 million [in a series A round]( from KK Fund, its existing investor and a Singapore-based VC firm. Other unnamed angel investors also participated in the round. - The backstory: CapBay was founded in 2016 with the aim of helping small and medium-sized enterprises grow and overcome cash flow issues in the supply chain through its financing solutions. In March 2020, the company launched its P2P services, which has purportedly funded almost US$25 million across 500 investment notes. - Expansion plans: With the fresh funds, CapBay is looking to further boost its technological and funding capabilities in order to expand its market to reach a wider range of investors and underserved SMEs. The startup last raised US$477,000 in a 2017 seed round led by KK Fund. - Breaking new ground: CapBay claims to be the first and only fintech firm to have partnered with Telekom Malaysia for the telecom giant’s vendor financing program, Perintis. This means CapBay’s P2P investors can now diversify their investment portfolio backed by the government and corporate receivables.  ---------------------------------------------------------------  PREMIUM PODCAST In 2007, Azran Osman-Rani got a call from Malaysian entrepreneur Tony Fernandes of AirAsia, who asked the executive to helm a new project: an airline that specializes in low-cost, long-haul flights. Despite not having had any experience in the airline industry, Osman-Rani joined the venture, which was eventually known as AirAsia X. And four short months after he came on board, the carrier launched its first flight from Kuala Lumpur to Gold Coast, Australia. However, the company’s success was quickly overshadowed by the 2008 global financial crisis, which caused AirAsia X’s credit lines to dry up and oil prices to go haywire. On [this episode of Startup Snapshot]( we dive into Osman-Rani’s experiences at the early days of AirAsia X, from when he started up the new airline to the moment when it almost went bust.  ---------------------------------------------------------------  QUICK BYTES  1️⃣ Chinese self-driving startup banks US$154 million Chinese autonomous driving startup Uisee has secured over US$154.3 million [in new investment]( from the state-backed National Manufacturing Transformation and Upgrade fund. With the fresh funds, Uisee will further develop its autonomous driving technology and accelerate its monetization.  2️⃣ Shopee bets on Brazil Shopee, the ecommerce arm of Southeast Asian giant Sea, is [scaling up its operations in Brazil]( and assessing the long-term potential of Latin American markets. It’s also in the midst of moving top talent from Southeast Asia to Brazil, according to sources.  3️⃣ India’s Kiko TV nabs SOSV backing Kiko TV, an Indian social commerce startup, has [raised an undisclosed amount]( in its pre-series A funding round, which was led by US-based VC firm SOSV. The startup claims that traditional ecommerce lacks instant buyer-seller interaction, a problem the company aims to solve through its platform.  4️⃣ Another departure at SoftBank Vision Fund SoftBank Vision Fund managing partner Colin Fan [is leaving his role at the Japanese conglomerate]( marking the second departure of a managing partner this month. During his time with Vision Fund, Fan oversaw SoftBank’s portfolio companies including Alibaba Local Services, Fair, Flexport, Greensill, Guazi, and Zume.  5️⃣ Podcast Network Asia scores seed funding Philippines-based startup Podcast Network Asia has raised US$750,000 in seed funding to [further its reach]( in Southeast Asia. Investors in the round include Summit Publications president Lisa Gokongwei, multifocus venture firm Foxmont Capital, and Jakarta-based investor Venturra Discovery.   ---------------------------------------------------------------  EVENTS HAPPENING - Antler’s Demo Day on February 3  Antler Southeast Asia will be revealing the latest group of companies to join their platform during a virtual live streaming event. These teams have built their companies for the needs of businesses and consumers in a new world. [RSVP to hear the founders pitch]( innovative companies building in FinTech, SaaS, ArtTech, InsurTech, HealthTech, and more. - [Workshop] How to negotiate term sheets with a VC on February 4 After months of pitching and fundraising, one of the most pivotal moments in a founder’s career is when an investor presents them with a term sheet. But the complex legal structure of a term sheet can be too complicated for many. So we brought in Melissa C. Guzy, co-founder and managing partner of Arbor Ventures, who will talk about the common pitfalls that founders must avoid and how they can negotiate for cleaner and simpler terms. [RSVP today]( - Tech in Asia x AWS Fintech Forum on 23 February Join Tech in Asia’s upcoming half-day conference in partnership with AWS to get a headstart on how to accelerate your fintech capabilities. Through a fireside chat, a panel discussion, and a master class, you’ll get to hear Asia’s best thought leaders discuss the region’s fintech landscape, how to build and scale fintech platforms, and more. RSVP for your complimentary seat [here]( - Tech in Asia’s Product Development Conference on April 7 and 8 This year’s conference is centered around a single goal: helping companies build outcome-oriented products. With five tracks from strategy to analytics, we want you to come out of this conference with product and engineering tips to build a winning product. You can get the ticket at an [early bird discount]( today for just US$15 (usual price US$50). Existing Tech in Asia Core, Live, and ID+ subscribers can RSVP at no additional cost [here](.  ---------------------------------------------------------------  WHO'S HIRING - [Program Officer]( at Quilt AI (Singapore, Singapore) - [Senior Backend Engineer]( at Asani Indonesia (Jakarta, Indonesia) - [Strategic Planning Analyst]( at PT. Rekruter Digital Indonesia (Jakarta, Indonesia)  ---------------------------------------------------------------  SHARE WITH YOUR FRIEND Don’t leave your co-workers behind! Share this with them so that they can keep up with what’s going on in the region’s tech scene. Feel free to [drop us some feedback]( if our newsletter today got you feeling smarter (or if it didn’t).  ---------------------------------------------------------------  Thanks for reading! Tech in Asia’s newsletters are handcrafted daily with love - and sometimes powered by good kopi (or tea). [ADVERTISE]( | [PREMIUM]( | [JOBS]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Was this forwarded to you? You can read this everyday when you sign up [here](. Don't want to receive these emails anymore? [Unsubscribe](.  ---------------------------------------------------------------  Today’s edition is written by Rebecca Liew, with contributions from Nikita Puri and Doris Yu. It’s edited by Jaclyn Teng. Copyright © 2021 Tech in Asia, All rights reserved. 51 Bras Basah Rd, #05-5061, Singapore 189554