As 2024 draws to a close, we can take a more objective look at the year so far.
Good news comes from Thailand. Freshket’s US$8 million funding round, led by Thai President Foods and Kliff Capital, highlights growing investor confidence in the region’s tech-enabled supply chain solutions.
Meanwhile, Indonesia’s startup landscape has shown fewer shutdowns in 2024, but rising layoffs point to a prioritisation of survival over growth. Reports of governance lapses and operational shutdowns suggest startups grapple with tough decisions amid economic headwinds as they recalibrate to sustain operations.
On the global stage, India-based Oyo’s US$525 million acquisition of Motel 6 and Studio 6 marks a bold move to expand its footprint in the budget hospitality sector. With projections of US$235 million EBITDA by 2026, this acquisition underscores the potential of strategic M&A activities to bolster long-term growth, even in turbulent markets.
This dynamic interplay of funding, consolidation, and operational restructuring reflects the multifaceted strategies driving Southeast Asia’s tech ecosystem in an increasingly competitive global market.
Anisa,
Editor
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NEWS & VIEWS
Freshket raises US$8M in a funding round led by Thai President Foods, Kliff Capital
Freshket said that it has a customer base of 26,000 restaurants, who rate the business as offering a 99 per cent service quality rate
Fewer Indonesian startup shutdowns in 2024, but layoffs rise as survival takes priority
Whispers of governance lapses, survival strategies, layoffs, and operational shutdowns were fairly frequent amongst Indonesian startups this year, DealStreetAsia writes
Oyo acquires Motel 6, Studio 6 brands for US$525M
Oyo projects its EBITDA could exceed US$235 million by the fiscal year 2026, with Motel 6 contributing US$74 million in its first full year after integration, according to Tech In Asia
FEATURES & INTERVIEWS
Scaling beyond borders: ASEAN GenAI startups and their global expansion strategies
As ASEAN startups expand their horizons, the journey involves adapting to diverse market conditions, continually innovating, and maintaining the agility to respond to global trends
Redefining mobility: Strutt has an innovative take on wheelchair design
In January 2025, Strutt will showcase the ev¹ wheelchair at the Consumer Electronics Show (CES) in Las Vegas
FROM THE ARCHIVES
Is ‘shadow charging’ the answer to the many challenges faced by existing EV charging stations?
DITL’s solution PSN-EVC is based on the principle that EV charging should not require an upgrade of an existing power system
Blockchain technology for climate action? Here’s why it works
The underlying blockchain technology can play an essential role in sustainable development and addressing climate change
Small steps, big impact: How SMEs can champion ESG initiatives
Continuously improve by staying informed on ESG trends, investing in training, and remembering small steps lead to positive change
Turning intimidation into innovation: Embracing sustainability’s new opportunities
As technology becomes more integrated into operations, it will be increasingly utilised to enhance sustainability and boost profit performance
The future of mobility is in public-private collaboration
Foxconn-initiated MIH Consortium and Techstars are paving the way as they engage startups in Southeast Asia and globally
Embracing clean beauty: A path to conscious consumerism and sustainability
Clean beauty, as a subset of sustainability, focuses on using safe products for both the body and the environment
How startups and VCs can propel Indonesia’s energy transition
As Indonesia continues on its rapid path to modernisation, demand for the internet will steadily increase, and so too will its energy needs
How Maeko aims to reduce communal food waste through composting
Maeko is raising close to US$1M equity crowdfunding, mainly for the production of MunchBot, a communal-sized composter that fits in homes
Electrifying Southeast Asia: Unleashing the radical potential of electric vehicles
When investors express interest in the electric vehicle sector, it’s essential to understand precisely where they are directing their investments
THOUGHT LEADERSHIP
Unlocking Asia’s potential: The growth of fintech hubs
Asia’s fintech hubs are not just shaping the future of financial services—they are redefining economic paradigms
Procrastination and the Zeigarnik Effect: A founder’s guide to getting things done
Procrastination goes beyond laziness, often arising from fear of failure, perfectionism, low self-control, or feeling overwhelmed by a task’s size
What’s next in messaging?
AI integration is transforming messaging apps with natural, context-aware, predictive, and intelligent responses
The ethical dilemma of dynamic pricing in online retail
Dynamic pricing has been a controversial practice as it raises ethical questions about fairness and transparency
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