Tech startups in Asia face significant challenges in 2024, marked by reduced venture capital funding and numerous layoffs across the region. 📉 Venture capital funding dropped to $17.3 billion in Q1 2024, 4% less than the previous quarter. 🏢 Notable layoffs: Qoo10 (80% staff cut), Cake Group (second round), and Geniebook (over 100 jobs). ⚠️ India led layoffs with Paytm cutting 3,500 jobs; IBM also laid off over 1,000 employees in China. - Want to keep up with the ins and outs of the #tech ecosystem in Asia? Sign up for free at techin.asia/newsletters
Tech in Asia
Technology, Information and Media
We cover everything tech in Asia. Sign up for free to get access to our content and daily quick bites sent to your inbox
About us
Get the best coverage on startups and tech in Asia for free by signing up at techin.asia/3GQ8ao5 Tech in Asia is a media, events, and jobs platform for Asia's tech communities. Visit www.techinasia.com/about to find out more, or reach out to our: - Editorial team: [email protected] - Business or Advertising team: www.techinasia.com/advertise - Tech hiring services: www.techinasia.com/jobs/recruitment Work with us at www.techinasia.com/advertise As of January 2024, Tech in Asia is a member of The Business Times (https://www.businesstimes.com.sg/).
- Website
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https://techinasia.com
External link for Tech in Asia
- Industry
- Technology, Information and Media
- Company size
- 51-200 employees
- Headquarters
- Singapore
- Type
- Privately Held
- Founded
- 2011
- Specialties
- media, technology news, tech events, technology, startups, innovation, Asia tech scene, advertising, recruitment, corporate innovation, and Southeast Asia
Locations
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Primary
13a Neil Road
Singapore, 088810, SG
Employees at Tech in Asia
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Latha Natarajan
Results-Oriented Regional Finance Director | Varied Service Industries including Tech | MNC & Startups | Controlling, Financial Reporting, FP&A…
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Anis Uzzaman Ph.D.
Founder & CEO at Pegasus Tech Ventures | Chairman of Startup World Cup
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Arjan de Raaf
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Masaru IKEDA
Tech enthusiast, web service producer, contributor
Updates
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[Published in June 2024] “[Lumens’] primary growth engine remains the private-hire vehicle leasing stream underpinned by the pivot to a hybrid vehicle fleet.” - Marcus Low, Head of Business at Lumens. 📈 Lumens has achieved substantial growth and profitability without seeking external funding, demonstrating the potential for sustainable success through a focus on operational efficiency and a strong understanding of market needs. 🚗 Lumens has expanded beyond its core PHV rental business, offering a range of services like concierge transportation, advertising, and even car sales. This diversification has helped the company capitalize on new opportunities and gain a competitive advantage in the evolving ride-hailing landscape. ✨ Will Lumens's strategic diversification and asset-backed financing model be enough to maintain its position in the face of increased competition from established players like Grab and ComfortDelGro, or will it need to embrace new strategies to secure long-term growth?
SG car rental firm surfs ride-hailing wave to FY 2022 profits
techinasia.com
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Telio’s penny-pinching path to profit 👉 Read more: https://lnkd.in/gt2K6UeH 📊💼 We check out B2B ecommerce firm Telio’s plan to hit profitability and the closing of SeaTown Holdings’ US$1.3 billion fund.
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📈📊 We check out B2B ecommerce firm Telio’s plan to hit profitability and the closing of SeaTown Holdings’ US$1.3 billion fund. - Want to keep up with the ins and outs of the #tech ecosystem in Asia? Sign up for free at techin.asia/newsletters
Telio’s penny-pinching path to profit
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💸🌏 Which investors are writing the most checks to Southeast Asian startups? - Want to keep up with the ins and outs of the #tech ecosystem in Asia? Sign up for free at techin.asia/newsletters
These are the most active investors in Southeast Asia’s startups
techinasia.com
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Malaysian insurance is set for a shake-up 👉 Read more: https://lnkd.in/dbHUYTtA Malaysia introduces a digital insurance license to address the country’s insurance gap and bring innovation to the industry. 🛡️ 90% of Malaysians are underinsured while only 15% of SMEs have adequate coverage. 🌐 The new digital insurance licenses ease entry requirements and target underserved populations via online channels. 💡 Fintech firms aim to revolutionize the insurance experience, providing accessibility and new options for customers.
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[Published in June 2024] The total number of ecommerce deals has steadily decreased over the past quarters, falling to just 19 in the first quarter of this year versus 35 during the same period in 2023. 👀 Will Southeast Asia's ecommerce market continue to mature and consolidate, with established players like Shopee and Lazada dominating the landscape, or will new entrants and innovative business models emerge to challenge the status quo? https://lnkd.in/dzVNNA-n
Mapping the players in Southeast Asia’s expanding ecommerce basket
techinasia.com
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Malaysian insurance is set for a shake-up 👉 Read more: https://lnkd.in/dbHUYTtA Malaysia introduces a digital insurance license to address the country’s insurance gap and bring innovation to the industry. 🛡️ 90% of Malaysians are underinsured while only 15% of SMEs have adequate coverage. 🌐 The new digital insurance licenses ease entry requirements and target underserved populations via online channels. 💡 Fintech firms aim to revolutionize the insurance experience, providing accessibility and new options for customers.
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💳📱 In The Top Up this week, we look at Grab's fintech affiliates in Indonesia, and Flipkart's new payments app. - Want to keep up with the ins and outs of the #tech ecosystem in Asia? Sign up for free at techin.asia/newsletters
Grab’s fork in the road: Ovo or Superbank?
techinasia.com
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🚀✨ Here's our regularly updated list of the region's biggest startup exits. - Want to keep up with the ins and outs of the #tech ecosystem in Asia? Sign up for free at techin.asia/newsletters
20 largest exits in SEA
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