Indonesia’s healthtech firms test positive for growth

In On the Rise, we map out Indonesia’s healthtech landscape, speak to Vietnam’s Earth VC on their investment plans, and explore NASA’s use of AI. [Read from your browser]( On the Rise 🚀 Welcome to On the Rise! Delivered every Tuesday via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and trends in emerging tech. If you’re not a subscriber, get access by [registering here](. Written by Shadine Taufik Journalist Hello {NAME} Studying abroad in the UK meant I was nearly 12,000 kilometers away from my family and friends, and that was liberating. But it was also rough at times, especially whenever I got sick. In January 2020, I was ill for two whole weeks - I woke up every day feeling like I’d been hit by a truck (in retrospect, I probably contracted Covid-19). Although healthcare was free in the UK, I had to book in-person consultations and pick up prescriptions. Though the doctor’s clinic and nearest chemist were close by, it felt like the longest trek of my life. Exerting all that effort while I was ill probably impeded my healing process. Two years later, I caught Covid-19 again in Jakarta. But this time around, I got a teleconsultation with the doctor at home and had medicine delivered to me on the same day. It was unbelievable to see how quickly healthcare platforms in Indonesia had adopted telehealth. And in this week’s Big Story, I map out the key players in the country’s healthtech industry. Investor interest in the sector peaked in the last two years, with the number of funding deals doubling from 2016. The most heavily financed segment is telemedicine, which has attracted big backers such as SoftBank, Temasek, Telkomsel, Singtel, Gojek, and Grab. Despite the influx of funds, these startups still need to come up with better value propositions as tailwinds from the pandemic are receding. Speaking of endurance, I believe that much more has to be done if humanity is to survive global warming. Luckily, firms such as Earth VC are investing in climate tech firms that are coming up with solutions, as Nikita details in Making Waves. You know what else can help save us? Tapping into AI’s powers to make engineering more efficient, even for space missions. -- Shadine  --------------------------------------------------------------- THE BIG STORY [Mapping Indonesia’s key healthtech players]( Healthtech funding deals in Indonesia doubled in 2021 and 2022 from six years earlier due to strong user growth. But can the firms monetize this?  ---------------------------------------------------------------  MAKING WAVES  [Vietnam VC firm says climate tech is the new fintech]( Instead of playing it safe in a downturn, Earth VC is on the lookout for big, bold ideas from across the globe to fight climate change.  --------------------------------------------------------------- AI ODYSSEY Promising AI projects we’re noticing.  AI helps make “alien-looking” hardware for NASA’s missions Most of us would probably nod in agreement when Ryan McClelland, a research engineer at NASA’s Goddard Space Flight Center, [says]( that people invent things based on what they’ve worked on or seen before. McClelland is in the news after creating the design for what he calls “evolved structures” - the specialized hardware used in space missions. In fact, when NASA’s [EXCITE (Exoplanet Climate Infrared Telescope)]( takes flight later this year to collect data on the atmospheric properties of planets outside our solar system, the device will be supported in its mission by evolved structures. These parts can be used for a variety of space missions because they are support components that can be designed according to requirements. Described as “somewhat alien and weird” in appearance, these evolved structures were developed by feeding critical measurements to commercially available AI software. Then adjustments were made one at a time, trying out new combinations in a process some say is akin to [“DNA mutations”](. Depending on the requirements, AI adds and subtracts from the bones of the structure. This results in products that are highly functional, albeit odd-looking. McClelland’s evolved structures are uber-light, [saving up to two-thirds]( of the weight compared to traditional components. To top that off, these structures can also be made by commercial vendors - a prototype can be ready in a [little as a week](. Even plane manufacturer [Airbus]( and carmaker [Volkswagen]( are tapping into the powers of generative AI to reimagine the structural foundations of certain vehicle parts. While computer-assisted design (CAD) is not a new approach, [a paper from Harvard Business Review Analytic Services]( says this software “did little to aid in the design process ... and was fundamentally a tool for documenting what an engineer had come up with in his or her head.” With proper instruction, generative AI could be revolutionary. In [NASA’s words]( these AI-designed parts “weigh less, tolerate higher structural loads, and require a fraction of the time parts designed by humans take to develop.” – Nikita  --------------------------------------------------------------- FYI 1️⃣ [Sea Group enters choppy waters with latest Malaysia deals]( The company wants to create 2,000 jobs by setting up a mega warehouse and a cloud computing center. But some say these targets may not be realistic. 2️⃣ [Debunking myths around Indonesia’s VC scene]( Despite rumors to the contrary, Indonesian VCs don’t face unduly heavy tax burdens. Regulations could be clearer, though.  --------------------------------------------------------------- NEWS YOU SHOULD KNOW Also check out Tech in Asia’s coverage of the emerging tech scene [here](. 1️⃣ [Edtech behemoth eyes further funding]( Byju’s is courting global investors to raise over US$500 million at a US$22 billion valuation as the Indian firm continues to struggle with a US$1.2 billion loan. 2️⃣ [Not just scarecrows in the fields]( SwarmFarm Robotics, an Australia-headquartered agritech firm that develops intelligent robots for farmers, has raised US$8.3 million. 3️⃣ [A win for SEA’s proptech landscape]( Lifull Connect, a Spain-based provider of online real estate services, has acquired Thai proptech player FazWaz for an undisclosed amount. 4️⃣ [Another round of layoffs in the food delivery space]( An undisclosed number of Foodpanda staff had to face a second round of job cuts after the firm shed jobs in September 2022. This comes weeks after its parent company, Delivery Hero, retrenched 156 employees in Berlin. 5️⃣ [Former Flipkart exec bags funds for food-sourcing biz]( Founded by ex-Flipkart executive Bipul Kumar, Onwo has raised US$1.6 million to grow its full-stack platform.  --------------------------------------------------------------- That’s it for this edition - we hope you liked it! Do also check out previous issues of the newsletter [here](. Not your cup of tea? You can unsubscribe from this newsletter by going to your “edit profile” page and choosing that option in our preference center. See you next week! [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND 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. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. 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