Industry News

VFlowTech, a leader in long-duration energy storage solutions, has successfully raised $20.5m in its latest funding round. The investment, led by Granite Asia, includes new investors such as Antares Ventures, EDBI, MOL PLUS, and PSA Ventures, alongside existing backers like İnci Holding and Wavemaker Partners. This funding will enable VFlowTech to scale the manufacturing and deployment of its vanadium redox flow batteries (VRFBs) and enhance its AI-driven cloud energy management platform.

The company aims to optimise energy efficiency and create new revenue streams through advanced smart grid functionalities. Dr Avishek Kumar, Founder and CEO of VFlowTech, stated, “As industries and governments prioritise sustainability, VFlowTech is at the forefront of providing advanced storage solutions that optimise energy usage and reduce environmental impact.”

The funding will also support the development of critical supply chains, including vanadium recycling and electrolyte innovation. Dr Arjun Bhattarai, Co-Founder of VFlowTech, expressed excitement about the strong group of financial and strategic partners, stating that the investment allows the company to expand into new markets and integrate cutting-edge digital intelligence into their solutions.

VFlowTech plans to accelerate its expansion across Asia, the Middle East, and other global markets, focusing on utilities, grid-scale storage, and industrial decarbonisation. With Singapore positioning itself as a global hub for sustainability, VFlowTech’s innovations are set to play a significant role in the region’s energy landscape.
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FedEx and Singapore Post Limited (SingPost) have expanded their collaboration to enhance international shipping accessibility in Singapore. Following a successful pilot programme launched in September 2023, FedEx parcel drop-off services are now available at all 43 SingPost post offices and POPStop@Tampines MRT. This expansion aims to streamline the delivery process and improve service efficiency, particularly for cross-border shipments.

The initiative allows customers to drop off FedEx parcels at any SingPost post office’s POPStop counters or at POPStop@Tampines MRT, with parcels transferred to FedEx daily. This process requires no additional paperwork or charges, making it a seamless experience for users. Eric Tan, Managing Director of FedEx Singapore, stated, “Expanding our collaboration with SingPost enhances the accessibility and convenience of our international shipping services across Singapore.”

The collaboration reflects FedEx’s strategy to increase accessibility and flexibility through strategic partnerships. With the inclusion of SingPost outlets, FedEx now boasts over 410 drop-off locations across Singapore, including SingPost’s Parcel Santa lockers in flats. Neo Su Yin, Group Chief Operating Officer of SingPost, remarked, “Partnerships with international logistics companies like FedEx allow us to offer even greater value to our customers by providing more options for international shipping.”

Since the pilot’s inception, there has been a steady increase in the use of the drop-off service, indicating strong demand for accessible international shipping solutions. This initiative underscores both companies’ commitment to enhancing logistics solutions for businesses and individuals in Singapore.
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Singapore start-up EXPIScore has unveiled the world’s first star rating system focused on human-centric customer experience (CX) in buildings. Developed by Dr Marigold Kimura, an internationally acclaimed researcher, in collaboration with Executive Adviser Peter Holland, the system aims to simplify and clarify the delivery of experiential real estate environments.

EXPIScore’s framework is based on comprehensive criteria that reflect people’s needs and preferences, identified through consumer surveys and expert consultations. The system offers two assessment categories: EXPIScore: LIVE and EXPIScore: WORK. Real estate providers receive a CX score out of 100 and a star rating from three to six stars, valid for 18 months for new developments and three years for existing properties.

The Singapore Land Group’s Singapore Land Tower has already achieved a 6-star EXPIScore: WORK rating, the highest tier, recognising its industry-leading innovation and design. This rating system provides real estate providers with a detailed report, including a scorecard and actionable roadmap to enhance CX outcomes.

Dr Kimura noted, “Singapore’s innovation culture and sophisticated real estate market make it the ideal launch pad for EXPIScore.” Peter Holland added that human-centric designs are becoming as standard as sustainability measures in real estate.

EXPIScore’s consumer survey revealed that 70% of private residence dwellers value ‘hotel-style’ services, whilst 76% of office workers prioritise safety features like CCTV. The launch of EXPIScore marks a pioneering step in the global real estate industry, offering a benchmark for experience-oriented investments.
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The Singapore Deep-Tech Alliance (SDTA) has unveiled its Youth Chapter, a new initiative aimed at empowering students and young adults through innovation. Announced at the Sustainable Innovation Asia 2025 (SIA2025) event, this initiative is part of SDTA’s efforts to foster an inclusive and future-focused innovation economy. The launch coincides with the SG60 celebrations and is supported by SWITCH, Go Green SG, and the SG Youth Plan by the Ministry of Culture, Community and Youth (MCCY).

At the heart of the Youth Chapter is “BINNY,” a bunny-shaped recycling machine developed by five students from ITE College Central. Despite having no prior tech training, the team, known as Materials For Life (MFL), created BINNY in just one week. The machine encourages young children to recycle by offering snacks as rewards, and it was showcased to over 200 stakeholders from both public and private sectors. BINNY earned the People’s Choice Award at SIA2025, exemplifying what Clara Chen, SDTA’s Founding Partner, describes as “grassroots innovation with public impact.”

The Youth Chapter is open to students from ITEs, polytechnics, and universities, offering free lifetime membership. It provides mentorship, workshops, and potential venture support, aiming to include those traditionally excluded from the innovation conversation. This initiative marks a significant step in engaging Singapore’s youth in sustainable innovation, potentially shaping the country’s future economic landscape.
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The Ascott Limited, a lodging business unit of CapitaLand Investment, has partnered with CapitaLand Hope Foundation to donate $292,000 (S$400,000) to Save the Children. This initiative aims to empower 160 children and youths with disabilities in Thailand and the United Kingdom by providing them with essential skills and opportunities for social, educational, and economic participation.

In Thailand, the partnership focuses on a life skills programme for 60 visually impaired youths. This initiative equips participants with workplace readiness skills, such as communication and teamwork, with the expectation that half will secure employment with Dots Coffee, a social enterprise run by individuals with visual impairments. The remaining participants will receive ongoing job placement support.

In the UK, the collaboration supports the Sheffield Community Bus Project, which serves approximately 100 children with special educational needs and disabilities (SEND) and their families. The mobile hub delivers workshops and essential services to help children access educational and social opportunities, aiming to reduce barriers to inclusion.

Beh Siew Kim, Chief Financial & Sustainability Officer at Ascott, stated, “Disability inclusion is central to our Ascott CARES sustainability framework, and our partnership with Save the Children builds on this commitment.” She emphasised the initiative’s role in empowering children and youths with disabilities to live with dignity.

The partnership was announced at a concert in Bangkok, celebrating Global Accessibility Awareness Day. The event featured performances by artists with disabilities and raised funds for local disability organisations. This collaboration reflects Ascott’s broader efforts to enhance disability inclusion across its global operations, with plans to launch a dedicated course for hospitality professionals later in 2025.
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Thales has been awarded a contract to supply the Republic of Singapore Navy (RSN) with its advanced Pathmaster Mine Countermeasure (MCM) system. Announced on 28 March 2025, this collaboration with ST Engineering marks the first deployment of the Pathmaster solution in Asia, aiming to bolster Singapore’s maritime security through cutting-edge technology.

The Pathmaster system, renowned for its operational performance, integrates the M-Cube mission management system, TSAS towed sonars, and the MiMap sonar data analysis tool. These components will be deployed via ST Engineering’s unmanned surface vehicle, providing the RSN with AI-driven detection and identification of underwater threats. The system is designed to ensure the safety of Singapore’s sea lines of communication, a critical aspect given the nation’s strategic position on major global shipping routes.

The Thales Singapore Defence Hub, established in 2023, will support the system by offering maintenance and local development services. This hub is strategically located near the Singapore Armed Forces to facilitate seamless integration and operational availability.

Emily Tan, CEO and Country Director of Thales in Singapore, expressed gratitude for the trust placed in Thales’ technologies, stating, “The Pathmaster system contributes towards the RSN’s vision for an autonomous suite of unmanned mine countermeasure capabilities, offering enhanced operational awareness, whilst reinforcing the safety of their personnel.”

This contract not only strengthens Thales’ position as a key supplier to the RSN but also represents a significant step in safeguarding Singapore’s maritime routes. The Pathmaster system is already in service with the British Royal Navy and the French Navy, underscoring its proven effectiveness in maritime mine countermeasures.
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Singapore-headquartered Agoda has announced a series of captivating lantern festivals across Asia, set to illuminate the remainder of 2025. These festivals provide a unique opportunity for travellers to experience cultural traditions through vibrant light displays and community gatherings.

Among the highlights is Vietnam’s Hoi An Lantern Festival, transforming the riverside town into a glowing wonderland every full moon. Visitors can release their own lanterns on the Thu Bon River, immersing themselves in Vietnam’s rich heritage. In August, Japan offers a double delight with the Nara Tokae Lantern Festival and the Obon Festival, featuring thousands of candlelit paper lanterns amidst historic temples and traditional dances.

China’s Mid-Autumn Festival in October promises intricate lantern displays in cities like Beijing and Shanghai, alongside mooncakes and storytelling. In November, Chiang Mai, Thailand, hosts the Yi Peng and Loy Krathong Festival, where thousands of lanterns ascend into the sky, symbolising the release of misfortunes. Finally, December’s Giant Lantern Festival in San Fernando, Philippines, showcases massive, intricately designed lanterns, celebrating Filipino creativity.

Krishna Rathi, Senior Country Director at Agoda, emphasised the cultural significance of these events: “Lantern festivals are more than just a visual treat; they’re a window into the heart of a culture.” Agoda aims to facilitate seamless travel experiences for those eager to partake in these luminous celebrations.

With over 5 million holiday properties and 130,000 flight routes, Agoda offers a comprehensive platform for planning a lantern-lit adventure. As these festivals approach, travellers have a wealth of options to explore Asia’s cultural richness through the enchanting glow of lanterns.
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Carro, Asia Pacific’s largest online used car platform, is celebrating its 10th anniversary by reviving its award-winning ‘No Drama’ advertising campaign. The campaign, which initially launched in 2023, cleverly parodies drama clichés to highlight Carro’s commitment to a seamless and transparent car buying and selling experience. The first ad, set in the Joseon Dynasty, showcases Carro’s dedication to saving customers from the stress of car transactions. A second instalment, featuring a Hong Kong crime genre, is set to be released in June.

The original ‘No Drama’ campaign went viral, amassing over 38 million views and winning six awards at the YouTube Works Awards Southeast Asia, including the Overall Winner for The Big Bang Southeast Asia category. Carro’s Chief Marketing Officer, Katherine Teo, emphasised the importance of transparency and stress-free processes, stating, “We keep our processes transparent and stress-free, and all the drama they see will only be from our ads.”

Carro’s innovative approach allows customers in markets like Hong Kong and Malaysia to begin their car-selling journey online, with inspections and quotations conducted at their homes. Chief Operating Officer Chua Zi Yong highlighted Carro’s commitment to transparency and trust, ensuring customers feel confident at every step.

Since its founding in 2015, Carro has expanded its reach across seven markets in Asia Pacific, offering a comprehensive ecosystem that includes financing, insurance, and aftersales services. The company has also begun selling brand new cars in Singapore, with plans to expand this offering to other markets. The ‘No Drama’ campaign continues to run in Singapore, Malaysia, Indonesia, Japan, and Hong Kong.
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Canon Singapore and Mitsubishi Electric Asia have announced a strategic partnership to introduce a cutting-edge automation solution in Southeast Asia. This collaboration integrates Canon’s newly launched Force Torque Sensor FH-300-20 with Mitsubishi Electric’s MELFA FR series industrial robots, aiming to address labour shortages and improve operational efficiency across the region.

The Force Torque Sensor FH-300-20, showcased at SEMICON Southeast Asia 2025, is designed to bring human-like sensitivity to robotic arms. This innovation allows robots to perform complex tasks such as gear alignment and material testing with high precision. According to Kobe Kazuhiro, Senior Director of Industrial Products at Canon Singapore, the integration of force sensors is crucial for automating tasks that require delicate force application, potentially increasing demand for such technology.

The sensor’s advanced encoder technology minimises signal noise, providing clearer force feedback and smoother control, which is particularly beneficial in high-speed production environments. Its durability ensures consistent performance, reducing maintenance and downtime. By detecting subtle changes in force and torque, the sensor enables robotic arms to mimic the nuanced touch of a human hand, crucial for tasks requiring delicate adjustments.

Mitsubishi Electric’s MELFA FR series FR PLUS robots, featuring the MELFA High Drive function, complement the sensor’s capabilities by enhancing positioning time and trajectory accuracy. This combined solution supports diverse manufacturing needs, contributing to higher productivity and quality.

SEMICON Southeast Asia 2025, held from 20 to 22 May at Marina Bay Sands, Singapore, marks the 30th anniversary of the region’s premier semiconductor exhibition, drawing over 20,000 attendees from 65 countries.
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Digital wallets have emerged as a dominant force in Singapore’s payment landscape, according to Worldpay’s 10th annual Global Payments Report. The report highlights that digital wallets accounted for 39% of online transaction value in Singapore in 2024, a significant increase from just 7% in 2014. This trend is expected to continue, with digital wallets projected to represent 47% of e-commerce spend in Singapore by 2030.

The report underscores the rapid adoption of digital wallets in the Asia-Pacific (APAC) region, where they have become the leading online payment method in eight out of 14 markets, including Singapore. Phil Pomford, General Manager of Global eCom, APAC at Worldpay, noted, “APAC consumers have long led the way globally with digital payment adoption. Singapore stands out as a regional leader due to its robust digital infrastructure and tech-savvy population.”

Despite the rise of digital wallets, credit cards remain a popular choice for Singaporeans, with 70% preferring to fund their digital wallets using this method. In 2024, cards accounted for 51% of point-of-sale (POS) transactions and 50% of online transaction value in Singapore.

The report also highlights the growing popularity of the buy now pay later (BNPL) trend, which represented 3% of all e-commerce transaction value in Singapore in 2024. Globally, BNPL is expected to grow at a compound annual growth rate of 9% through 2030.

As Singapore’s e-commerce market is projected to reach $27.5b (S$37.5b) by 2030, the continued evolution of payment methods will play a crucial role in shaping the future of commerce in the region.
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