Day: August 16, 2025

Carsome Group, Southeast Asia’s leading integrated car e-commerce platform, has announced its most profitable quarter to date in Q2 2025, recording an EBITDA of over US$5 million.

According to the company, this performance signifies a continued trajectory of sustained, quality earnings.

During the second quarter of 2025, the group reported a 19 per cent year-on-year (YoY) increase in gross profit, underpinned by robust performance across both its wholesale and retail businesses.

The Q2 2025 EBITDA more than quadrupled YoY, surpassing the growth in gross profit per unit (GPU). This significant improvement is attributed to enhanced monetisation, productivity gains, and a refined operational playbook, supported by disciplined cost management across the group.

Also Read: Carsome turns profitable in FY2024 with US$10.5M EBITDA

Furthermore, Carsome’s cumulative EBITDA for the first half of the year reached over US$10 million, marking a seven-fold increase compared to the same period last year.

Eric Cheng, co-founder and Group CEO of Carsome, remarked on the results, stating, “Our agile operating model continues to drive market share gains in a rapidly evolving environment. We remain confident in delivering sustained profitable growth throughout the year, even amid regional macroeconomic uncertainties.”

Cheng further highlighted the company’s strategic approach, adding, “We view mobility access as a structural need in Southeast Asia, not just a consumer preference. By anchoring our solutions in quality assurance and post-sale confidence, we are not only meeting current demand but cementing our long-term market leadership.”

He cited the newly introduced Carsome Value Plus range as an example of how the company is broadening access to reliable vehicles for more market segments, aligning with the broader national push for accessible mobility and easing cost pressures.

Carsome has a significant presence across Malaysia, Indonesia, Thailand, and Singapore.

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Grab’s Q2 2025 results paint a picture of a tech giant hitting its stride: headline profits, double-digit revenue growth, and an expanding user base. But beneath the PR gloss, the financials reveal cracks that Southeast Asia’s startup ecosystem should watch closely.

The US$20 million profit and record Adjusted EBITDA are real achievements, yet the steep US$209 million year-over-year drop in net operating cash flow tells a different story–one of strained liquidity from lower banking deposits and rising lending outflows. Financial services revenue surged 41 per cent, but with Segment Adjusted EBITDA losses widening to US$26 million, this expansion is running hotter than profitability can keep up.

Meanwhile, Grab’s dependence on US$547 million in quarterly incentives–flat as a proportion of GMV–underscores an uncomfortable truth: user growth still needs heavy subsidy. Rising corporate costs and a US$1.5 billion convertible note raise add further weight to the balance sheet, even as share buybacks signal confidence, or perhaps an attempt to prop up sentiment.

For all its operational gains, Grab’s “profitable growth at scale” rests on a complex mix of debt-fuelled liquidity, incentive-heavy retention, and segment-level losses.

The next test will be proving that this momentum can endure without leaning so heavily on financial engineering and subsidies.

REGIONAL

Beyond the profit headline: Grab’s Q2 results show cracks beneath the surface
Despite turning a quarterly profit, Grab’s Q2 reveals deepening financial services losses, shrinking operating cash flow, and persistent incentive dependence.

17LIVE’s H1 report shows tough road ahead for Asian streaming pioneer
Revenue plunges nearly 20%, forex losses deepen net loss, and cost cuts mask challenges as 17LIVE struggles to regain momentum.

Sea posts 418% profit jump as Shopee, Monee, Garena fire on all cylinders
Shopee turns profitable, Monee scales credit ambitiously, and Garena deepens monetisation: Sea’s Q2 results show disciplined, high-impact growth.

Behind GoTo’s record Q2: The fine print tells a different story
Despite headline gains in revenue and EBITDA, GoTo’s reliance on pro-forma figures and continued net losses signal caution ahead.

Vietnamese EV firm VinFast founder buys R&D unit for US$1.5B
The deal will see Novatech Research and Development JSC separated from VinFast’s domestic manufacturing arm, with Novatech taking on investment costs for completed R&D projects.

MUFG’s VC arm reportedly leads US$15M round for Indonesia’s Oy
Other investors include Capital Rich, Finnoventure PE Trust, and Wishaw Holding | Oy provides payment services such as fund transfers, virtual accounts, QRIS, and card payments, connecting to more than 100 banks and e-wallets.

Malaysia’s Carsome posts record profit in second quarter
Carsome’s EBITDA for Q2 was US$5 million | The group recorded a 19 percent year-on-year increase in gross profit, underpinned by continued strength across both its wholesale and retail businesses.

Equatic secures US$11.6M Series A to scale carbon removal, green hydrogen tech
Investors include C3H and Kibo Invest | Equatic’s proprietary tech enhances the ocean’s natural carbon absorption capabilities | It uses seawater electrolysis to lock away CO₂ and produce hydrogen without generating harmful byproducts.

Betagro Ventures joins US$18.4M Series B funding round for US-based BiomEdit
BiomEdit’s breakthrough biologics product BE-101 is designed to combat necrotic enteritis in broiler chickens | Betagro’s participation signals growing momentum in Asia for biologics and next-gen feed technologies.

Antler injects US$7.4M into Southeast Asia startups, with US$2.8M for AI ventures
Singapore-based VC backs startups across the region, spotlighting seven AI firms from its AI Disrupt programme amid Southeast Asia’s funding slowdown.

Prefer secures US$4.2M to take sustainable coffee and cocoa worldwide
Investors are At One Ventures, Chancery Hill Capital, and Forge Ventures | Singapore-based Prefer uses fermentation to turn food byproducts into low-carbon coffee and cocoa.

Startale invests in Kyo Finance to build next-gen DeFi infrastructure
Kyo Finance aims to unify fragmented liquidity across the Superchain with Startale’s backing, creating seamless, vertically integrated DeFi infrastructure.

Philippine central bank orders e-wallets to drop gambling links
Senators are debating proposals to restrict or ban online gambling due to concerns over debt and addiction, while President Ferdinand Marcos Jr. has said a ban could lead to more illegal betting.

REPORTS, FEATURES & INTERVIEWS

Java leads, frontiers rise: A provincial breakdown of Indonesia’s digital competitiveness
EV-DCI 2025 reveals Java’s continued dominance, while frontier regions like Papua and Lampung show impressive digital competitiveness gains.

How Indonesia plans to digitally uplift a nation–one pillar at a time
Indonesia’s digital transformation strategy centres on tech-enabled services, regulatory strength, talent development, and equitable infrastructure to foster inclusive growth.

Singaporean startup Flavorist puts food at the heart of social sharing
Invite-only platform Flavorist fosters authentic culinary connections, spotlighting diverse food stories and creators while keeping content focused, ad-light, and community-driven.

Yvan Goudard on why simple, low-tech solutions still outperform AI hype
Communication strategist Yvan Goudard shares lessons on storytelling, founder focus, and balancing tech optimism with due diligence.

How quantum computing moved from components to applications in 2024
While hardware innovation remains vital, the most significant opportunity lies in solving real-world problems through quantum computing.

Quantum computing market surges as companies shift focus to revenue: Report
In 2024, quantum computing companies collectively earned between US$650 million and US$750 million, up from US$200 million to US$250 million in 2023.

Input, Output, Support: The framework driving Indonesia’s digital competitiveness
EV-DCI 2025 reveals Indonesia’s digital strengths and gaps through a weighted framework measuring readiness, impact, and enabling conditions.

ECHELON

Evolving Indonesia’s startup ecosystem
From post-2011 B2C boom to COVID-era setbacks, the sector faces challenges like fraud but eyes long-term growth.

The future of urban mobility in Asia
Autonomous vehicles show promise, but innovation must be balanced with practical, people-centred transport solutions.

Startup lessons from the campaign trail
Jeremy Tan draws parallels between startup building and political campaigning, advocating infrastructure for independent candidates.

INTERNATIONAL

US crypto firms rush for IPOs as market hits US$4.2T
Bullish, a crypto-exchange backed by Peter Thiel, raised over US$1.1 billion in its public debut on August 13 | Circle, a stablecoin issuer, went public in June with shares more than doubling at the open and is now valued around US$35 billion.

SoftBank founder’s net worth jumps US$9B on AI investments
Masayoshi Son’s wealth is now estimated at US$31.3 billion, making him the second richest person in Japan after Tadashi Yanai of Fast Retailing | SoftBank has benefited from rising share prices linked to its AI investments.

OpenAI explores ads, commerce to monetise ChatGPT growth
OpenAI is also exploring revenue from taking a cut of product purchases recommended through its platform, a project referred to internally as “Commerce in ChatGPT.”

JD.com beats Q2 estimates, faces price war clampdown in China
The Chinese e-commerce giant reported a 22% YoY revenue rise to 356.7 billion yuan (US$49.7B) for the June quarter, beating analyst estimates of 335.5 billion yuan | Its sales grew after government subsidies and its move into meal delivery.

Alibaba launches AI agent to automate and cut sourcing time
The tool, called Accio Agent, is designed to automate tasks such as product ideation, prototyping, compliance checks, and supplier sourcing | Alibaba said the agent could cut down weeks of research and sourcing work to a few minutes.

SpaceX’s bitcoin holdings surpass US$1B
The company, led by Elon Musk, currently holds 8,285 bitcoin, valued at around US$1 billion | SpaceX’s bitcoin holdings previously topped US$1 billion in April 2021, when it owned about 28,000 bitcoin valued at US$1.8 billion.

SEMICONDUCTOR

US government is reportedly in discussions to take stake in Intel
This deal would be structured to help the company expand its US manufacturing efforts, including its much-delayed Ohio chip factory | This news comes less than a week after President Donald Trump insisted that Intel CEO Lip-Bu Tan resign.

AMD expands R&D footprint with Malaysian facility
The Malaysian Investment Development Authority (MIDA) said the new office at GBS by the Sea spans 209,000 square feet and is designed to support over 1,200 employees | It features open workspaces and state-of-the-art engineering labs to drive advances in semiconductor design.

US AI chip startup Rivos seeks US$500M to compete with Nvidia
If the new funding round closes, Rivos’s total funding would exceed US$870 million | Rivos is developing a graphics processing unit designed for AI inference and completed the physical design of its chip earlier this year.

US chipmaker Applied Materials sued in China over tech theft
Beijing E-Town Semiconductor Technology said in a court filing that Applied Materials illegally obtained and used proprietary plasma technology developed by E-Town and its US subsidiary, Mattson.

India approves four new semiconductor projects worth US$524.2M
These projects are backed by SiCSem, Heterogeneous Integrated Packaging Solutions, Continental Device India, and Advanced System in Package Technologies | They bring the total number of sanctioned chip manufacturing facilities in India to 10.

AI

Frugality as a superpower: How lean teams use AI to scale without burnout
In a tight funding climate, lean teams using AI and strategic frugality are redefining startup success through speed, focus, and impact.

Why I’m using AI to redesign how we learn crypto
For me, the future of finance education will be human-led, supported by AI, and designed to always keep the learner at the centre.

Women and AI: The glass ceiling, the gap, and everything in between
Women are adopting generative AI tools at lower rates than men, risking a new gendered productivity gap in the workplace.

Re-skilling in the age of AI and navigating the future of work in Malaysia
As modern technologies continue to impact the workforce in Malaysia, the importance of re-skilling and up-skilling cannot be overstated.

THOUGHT LEADERSHIP

Bitcoin smashes US$124,000, gold hits US$3,356: The safe-haven secret investors are piling into
Global markets rally on eased tariff fears, strong earnings, and Fed rate cut hopes, with Bitcoin, Ethereum, and XRP hitting milestones.

Is Southeast Asia’s data centre boom headed for a PR crisis?
Southeast Asia’s US$6.3 billion data centre boom faces growing public scrutiny over sustainability, driving calls for stronger PR strategies.

Rising trade tensions and fraud risks: Why Asia’s businesses must rethink payment security
Digital fraud now surpasses traditional fraud in APAC, driving demand for AI-powered payment orchestration to boost security and agility.

Pressure-proof your team: How to handle conflict like the pros
Global tech leaders like Meta, Tesla, and Hubspot show that mastering conflict management can drive growth, trust, and innovation.

Brands as forces for change: Shaping the future through purpose
In today’s world, where things are fractured–geopolitically, socially, economically–brands have the power to bring people together.

Trump’s trade war looms, but markets are betting on a Fed rate cut
Global risk sentiment improves on softer US inflation, Fed rate cut hopes, trade truce gains, and Ethereum’s institutional-led rally.

Why Malaysia is emerging as Southeast Asia’s fintech launchpad
Malaysia is becoming an attractive fintech hub in Southeast Asia thanks to its growing digital economy and robust regulations.

Why Vietnam’s digital bank licenses are the dark horse opportunity of 2026
Vietnam’s new fintech sandbox paves the way for digital bank licences by 2026, offering foreign investors expanded entry options.

Small business, big impact: How AI is democratising entrepreneurship
AI isn’t just for bigshots; discover how small businesses are using it to personalise, build free websites & go global.

Rewiring our world: How neuroscience unlocks the secret to sustainable tech
Neuroscience offers tools designed to engage, motivate, and inspire — tools that can make sustainability a core part of the tech culture.

The post Ecosystem Roundup: Grab’s profit masks cracks | 17LIVE faces uphill battle | Sea’s profit soars 418% | US may take Intel stake appeared first on e27.

Visa has released its latest Money Travels: 2025 Digital Remittances Adoption Report, revealing that digital applications are now the preferred method for sending and receiving remittances across Asia Pacific. Based on responses from 44,000 remittance senders and receivers in 20 countries, the report identifies a major inflection point for digital money movement in a region historically reliant on cash transfers.

Asia Pacific, which includes several of the world’s largest remittance corridors, is experiencing a notable migration toward digital tools. The use of remittance apps reached a high of 76 per cent among receivers in India and 75 per cent in Singapore. In the Philippines, which is a major remittance recipient nation, 66 per cent of receivers prefer digital apps, while Japan saw a 10 per cent rise in digital usage year-on-year.

The preference is not just widespread but also intergenerational. The report shows that remitters of all age groups are embracing app-based transfers across the region. Singapore, the Philippines, and India lead the pack in digital adoption across all age cohorts.

The report highlights four core factors fueling this digital surge: ease of use, safety, privacy, and speed.

Also Read: Agentic AI, urban mobility & smart tourism: 2025’s travel investment hotspots

In Singapore, for instance, over half of users cited ease of use as the top reason for choosing digital over physical methods. Digital apps were also perceived as the fastest way to receive funds by 73 per cent of respondents in the Philippines and 67 per cent in Singapore.

“Remittances have long driven growth across Asia Pacific,” said Chavi Jafa, SVP and Head of Commercial and Money Movement Solutions, Visa Asia Pacific. “The shift to app-based remittances reflects regional demographics and a rising preference for simple, secure ways to send and receive money”.

While security and convenience outweigh other concerns, the cost of digital transfers still emerged as a key friction. Users in the Philippines (43 per cent) and India (36 per cent) cited app fees as a significant drawback, and high costs were also associated with physical remittances across all surveyed countries.

Nevertheless, the perceived safety of digital apps significantly outpaces that of physical channels. For example, only three to six per cent of respondents across Asia Pacific rated physical remittances as secure, while over 50 per cent of users in India and Australia saw app-based transfers as secure.

The rapid adoption of digital remittances suggests new opportunities for regional fintechs, banks, and global remittance partners.

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Image Credit: JESHOOTS.COM on Unsplash

The post Digital remittance apps take the lead across Asia Pacific, says Visa appeared first on e27.

When Welson Ang left the Navy in 2004, the plan was simple: find a way to make ends meet. With S$5,000 borrowed from family and a basic printer, he started selling name cards. It wasn’t a glamorous launch story, but it was the start of something he could build on — one small print job at a time.

Over time, that modest operation grew into ExpressPrint, a printing business serving Singapore’s fast-turnaround corporate and events market. And that’s where Welson found the real friction point: quoting. The bottleneck wasn’t the machines. It was maths. Pricing was often handled by one or two experienced staff, and when they weren’t available, everything stalled. In a city where corporate clients expect turnaround in hours, not days, slow quoting was a silent revenue killer.

Instead of hiring more people to do more manual work, Welson taught himself to code after hours. He built an internal tool to automate quotes — a side project meant to fix a single operational snag. But it did more than that: it sped up response times, reduced errors, and freed staff to focus on actual production.

By 2021, he saw the bigger picture. “If I was facing this problem, others were too,” he recalls. PriceCal was launched as quoting software designed by a printer for printers. Its “stack-and-swap” logic mirrors how jobs are assembled on the shop floor, requiring zero technical skills. Every account comes with a branded online store that’s ready to quote instantly, 24/7.

For many small shops, that’s not just a nice-to-have — its survival. PriceCal plugs directly into major wholesalers, unlocking access to over 60 services without the cost of owning the machines. In an industry where customers expect range, speed, and accuracy in one go, this levels the playing field.

Then came a milestone that shifted perception in the industry: a partnership with Konica Minolta, the Japanese tech giant known for professional printing, digital office solutions, and medical and industrial imaging. “Konica doesn’t work with just anyone,” says Welson. “For them to partner with us means they see the potential in a homegrown Singapore brand.” From Konica’s side, it’s part of a push to work with forward-thinking partners who bring fresh ideas into an industry still catching up with digital transformation.

Today, Welson runs PriceCal, and his role is shifting toward enabling others. Awards like the Asia eCommerce Award for fulfillment help, but his measure of success is more practical: the neighbourhood shop that beat a big-name competitor because they could quote in minutes; the veteran printer who now spends half an hour on a task that used to take half a day.

As for what’s next? Welson hints at regional expansion and integrations beyond printing. “We’re not just building a quoting tool,” he says. “We’re building an ecosystem.” In other words, watch this space.

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Featured Image Credit: PriceCal, Canva Images

The post How a homegrown Singapore brand caught the eye of a tech giant appeared first on e27.

Grab, Southeast Asia’s superapp giant, has announced a strategic equity investment in WeRide, a global leader in autonomous driving technology.

This partnership aims to accelerate the deployment and commercialisation of Level 4 Robotaxis and autonomous shuttles across Southeast Asia.

Also Read: Beyond the profit headline: Grab’s Q2 results show cracks beneath the surface

The investment, subject to customary closing conditions, is anticipated to be completed by H1 2026. It aims to integrate WeRide’s autonomous vehicles (AVs) into Grab’s extensive network, thereby enhancing service and safety standards across the region.

Driving autonomous mobility forward

This expanded collaboration builds upon an MoU signed in March 2025, wherein WeRide and Grab first committed to exploring the technical feasibility, commercial viability, and job creation potential of AVs in the region. Grab’s investment is designed to bolster WeRide’s growth strategy, specifically to expand its commercial AV fleet within the region and to further advance AI-driven mobility solutions.

Dr. Tony Han, Founder and CEO of WeRide, said: “WeRide’s vision for Southeast Asia is to deploy thousands of Robotaxis across the region, through a progressive rollout aligned with local regulations and societal readiness.”

He underscored the strategic importance of Grab’s regional presence, adding, “Grab, our newest partner and investor, is a household name in Southeast Asia with unmatched regional expertise and scale in ride-hailing and digital services. Together, we will combine WeRide’s advanced AV technology and operational know-how with Grab’s strengths to accelerate safe, efficient Robotaxi services, enter new markets, and reinforce our first-mover leadership in shaping the future of mobility.”

Addressing manpower constraints and enhancing accessibility

From Grab’s perspective, the alliance is a crucial step towards overcoming existing operational challenges. Anthony Tan, Group CEO and co-founder of Grab, shared: “We want everyone in Southeast Asia to have access to reliable transportation whenever they need it. However, manpower constraints remain a challenge. We believe AVs can complement our driver network and be deployed in cities with significant driver shortages.”

Tan also emphasised the importance of comprehensive testing of WeRide’s vehicles across diverse Southeast Asian environments to gain valuable insights, adapt the technology for enhanced safety and reliability, and meet the region’s unique requirements.

Seamless integration and operational scalability

The partnership is set to establish a robust framework for deploying autonomous solutions throughout Grab’s network, aiming for enhanced operational efficiency and scalability. WeRide will integrate its autonomous driving technology directly into Grab’s sophisticated fleet management, vehicle matching, and routing ecosystem. The collaboration will focus on several key technical and operational areas, including:

• Optimising dispatch and routing: Leveraging seamless integration of WeRide and Grab’s platforms for efficient AV deployment, thereby enhancing the passenger experience.
• Maximising vehicle uptime: Developing robust maintenance, repair, and charging protocols to ensure continuous operational efficiency.
  Measuring safety performance: Utilising WeRide’s extensive regional operational experience to train AVs to navigate Southeast Asia’s complex traffic conditions and assess their potential to reduce accidents caused by human errors.
• Remote monitoring and teleoperations: Establishing clear processes to ensure safety and provide remote support during emergency scenarios.
  Customer support: Implementing efficient systems for rapid issue resolution to deliver a seamless service experience.
• Training and upskilling initiatives: A pivotal aspect of the partnership involves training, upskilling, and transitioning interested Grab driver-partners and local communities into high-value career pathways within the AV industry. This initiative will draw upon WeRide trainers’ extensive AV remote supervision experience and GrabAcademy’s proven track record in upskilling driver-partners.

WeRide is a leader in the autonomous driving industry, notably being the first publicly traded Robotaxi company. Its autonomous vehicles have been rigorously tested or operated in over 30 cities across 10 countries. It has secured autonomous driving permits in six distinct markets: China, Singapore, France, Saudi Arabia, the UAE, and the US.

WeRide provides autonomous driving products and services from L2 to L4, catering to transportation needs across the mobility, logistics, and sanitation sectors.

Also Read: Behind GoTo’s record Q2: The fine print tells a different story

Founded in 2012, Grab enables millions of people daily to access a wide array of services, including food and grocery orders, package delivery, ride-hailing, and digital payments, all through a single application. It serves over 800 cities in eight Southeast Asian countries, including Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

The company also manages supermarkets in Malaysia under the Jaya Grocer and Everrise brands and provides digital banking services through GXS Bank in Singapore and GXBank in Malaysia.

The post Grab makes strategic bet on WeRide to drive autonomous mobility in SEA appeared first on e27.