The recent detentions of MDI Ventures CEO Donald Wihardja and former TaniHub executives mark a stunning turn in Indonesia’s startup investment narrative, where optimism around tech-for-good ventures now collides with a sobering accountability reckoning. Allegations of corruption, money laundering, and data manipulation not only cast a shadow over TaniHub’s agritech promise but also raise broader concerns about governance in venture-backed startups.
What makes this scandal particularly troubling is the cognitive dissonance between TaniHub’s social mission—empowering farmers—and the alleged financial misconduct. As whistleblower testimony reveals, internal misreporting, vague “Special Projects” expenditures, and the artificial inflation of success metrics suggest a culture where perception took precedence over transparency. The revelation that failed farmer loans were reclassified as produce losses to mask defaults is emblematic of deeper systemic flaws.
This case also implicates investors and ecosystem enablers, who may have turned a blind eye to red flags in pursuit of impact narratives and portfolio growth. With both private and state-affiliated funds now under scrutiny, there is a clear call for stronger due diligence, post-investment oversight, and whistleblower protections.
TaniHub’s fall from grace should serve as a cautionary tale: mission-driven startups are not immune to scrutiny, and good intentions cannot excuse ethical lapses in financial stewardship.
REGIONAL
“Special Projects” and shady metrics: TaniHub whistleblower speaks as top execs detained
A former employee reveals financial misreporting and questionable practices at TaniHub, as authorities detain top executives in corruption probe.
Grab posts Q2 2025 earnings of US$35M on rising revenue, margins
This is a reversal from US$53M loss in Q2 last year | Revenue rose 23% y-o-y to US$819M | The turnaround was driven by operating profit and lower finance costs, though this was partially offset by higher income tax expenses.
PropertyGuru rebounds with double-digit growth after US delisting
The group’s newly appointed CEO Lewis Ng said the revenue and adjusted EBITDA saw double-digit growth between June 2024 and June 2025 | Its last announced adjusted EBITDA was US$5.3M for the quarter ended June 30, 2024.
Grab joins Foxmont’s US$30M Fund III to back Philippine startup boom
The Philippine funding surge from US$440M in 2019 to US$1.12B in 2024 | The nation now commands 19% of the regional funding, a substantial increase from just 2% in 2021.
Singapore ranks second globally in AI readiness, leading Asia Pacific
With robust regulation, strong digital infrastructure, and a focused national strategy, Singapore cements its leadership in agentic AI.
Indonesia’s AI ambitions face hard limits amid foundational gaps: Salesforce
Indonesia stands to benefit significantly from AI—but only if it can address the structural weaknesses that currently hold back its progress.
Blibli H1 revenue rises 22% to US$592.6M
The company operates online and physical retail platforms, including the Blibli and Tiket.com brands, and holds a 70.6% stake in PT Supra Boga Lestari Tbk, which operates Ranch Market.
Peak XV leads US$8.5M Series A in Singapore startup SixSense
SixSense develops an AI platform that helps semiconductor manufacturers detect and predict chip defects on production lines in real time.
REPORTS, FEATURES & INTERVIEWS
Crypto crime has a map: Where victims—and losses—are concentrated in 2025
New data reveals 2025’s crypto crime hotspots, highlighting regional disparities in victim counts, asset types, and severity of losses.
Laundering, layered: The strategy, psychology, and mistakes of crypto thieves
Crypto laundering in 2025 reveals diverging tactics by threat actors, with rising costs, regional shifts, and growing reliance on blockchain obfuscation.
From Singapore to 70+ areas in Japan: How SWAT is using AI to rewire ageing transit systems
SWAT Mobility brings AI-powered, demand-responsive transport to Japan, tackling ageing demographics and inefficient transit with scalable, smart mobility solutions.
Crypto-security race: Sysdig believes real-time visibility is non-negotiable
As crypto exchanges face relentless cyber threats, Sysdig champions real-time visibility and AI-driven defence as essential for cloud resilience.
The power of automation: How Sabrina ‘Princessa’ Wang uses AI to create time for what matters most
Wang reflects on her journey, blending resilience, tech, and storytelling to guide entrepreneurs and creators to thrive.
How Hasan Venture Capital uses AI to build an ethically grounded investment future
Hasan Venture Capital views AI as a catalyst for ethical transformation. The firm uses the tech in reviewing and supporting halal innovation.
Tariff fallout: What performance marketers must know to stay competitive
According to Stella Zhu of Playturbo, performance marketers can create a real edge through their creative strategy.
ECHELON SINGAPORE 2025
10 powerful sessions now available to stream
For less than the cost of your daily coffee, you can access every one of these thought-provoking sessions—and hundreds more—via Echelon Recorded Sessions On Demand.
Investing in innovation: The role of banks and CVCs in the Indonesian tech startup ecosystem
The session offers clarity on how CVCs can be more than capital providers: they can be catalysts for sustainable growth.
INTERNATIONAL
Apple revenue hits US$94B, strongest growth since 2021
IPhone sales rose 13% to US$44.6B, while Mac revenue increased nearly 15% to US$8.1B | The services business grew 13% to US$27.4B | However, iPad and wearables revenue declined 8% each.
CEO Tim Cook says Apple ready to spend big on AI
Apple’s AI strategy has included developing in-house improvements to its Siri voice assistant | The company has also partnered with OpenAI to integrate ChatGPT into certain iPhone features.
OpenAI reportedly doubled annualised revenue to US$12B
This suggests OpenAI is generating about US$1B in monthly revenue | The company reportedly has around 700M weekly active users for its ChatGPT products used by both consumers and business customers.
Coinbase drops after Q2 revenue miss on low trading volume
The US cryptocurrency exchange’s shares fell 7% in after-hours trading after the company reported second-quarter revenue of US$1.5B, missing analyst expectations of US$1.59B.
SEMICONDUCTOR
Korean chipmaker FuriosaAI bags US$125M to scale chip production
The investors include Korea Development Bank, Industrial Bank of Korea, and Kakao Investment | FuriosaAI plans to use the funds to ramp up production of its RNGD inference chip and develop its next-generation chip.
US chip equipment supplier KLA forecasts strong Q1 revenue
KLA Corp expects first-quarter revenue of US$3.15B, plus or minus US$150M, surpassing Wall Street’s average estimate of US$3B | This is attributed to strong demand for AI-supporting advanced processors.
ARTIFICIAL INTELLIGENCE
AI at work: Moving forward with employee engagement
While AI can revolutionise employee engagement, it requires thoughtful implementation, ethics, and a human-centric approach.
What big tech won’t show you about the future of AI
Real AI progress is being made by focused startups solving business problems with speed urgency and practical innovation.
AI and the frontline revolution: Rethinking workforce efficiency in Asia’s next chapter
AI is reshaping frontline work in Asia, driving efficiency, inclusivity, and trust while redefining digital transformation.
The tri-economy: How AI is reshaping our economic future
The rise of AI is shaping a new tri-economy, blending human skill, AI collaboration, and autonomous agent-driven systems.
THOUGHT LEADERSHIP
The Fed, tariffs, and Bitcoin: Unpacking the market dynamics
Global markets balance strong US data with Fed caution, trade tensions, and crypto volatility as investors await clearer signals.
Classroom capitalism: Why private equity is quietly taking over Indian schools
Private equity is quietly reshaping India’s school sector with billion‑dollar investments, raising questions on profit and purpose.
Why traditional wealth strategies are failing India’s new-age investors
Most Indian investors still rely on outdated wealth models even as a new data-driven generation seeks smarter, adaptive strategies.
From founder to investor: Shifting your mindset to sustainably grow your company
Smaller companies can scale sustainably by adopting an investor mindset and making strategic acquisitions that align with long-term goals.
Indonesia’s fitness pivot: From big-box gyms at the mall to agile shophouse startups
Shophouse gyms are reshaping Indonesia’s fitness scene as health-conscious youth drive growth beyond malls into accessible spaces.
The evolution of influence: The next chapter of creator leadership
Influence today is no longer about chasing noise, it is about clarity, balance, and building connections that truly last.
Startup winter hits SEA: Choosing investors wisely matters more than ever
In Southeast Asia’s funding slowdown, startups must target smart capital that offers networks, expertise, and long-term strategic alignment.
You can scale a product, but can you scale purpose?
Purpose-driven teams endure startup pressure by anchoring on shared values and fighting industry imbalances with integrity and clarity
A new insights attitude for SMEs in the era of the ‘insights engine’
Adopting an all-hands-on-deck insights attitude, SMEs can reach new horizons with sails as effective as insights engines.
A startup founder’s guide to navigating a VC funding round: A lawyer’s perspective
A guide for founders on navigating VC funding rounds with legal prep, smart negotiations, and long term success in mind.
The SEA headcount trap: Why more people ≠ more progress
In SEA, growing headcount doesn’t always mean progress; scaling smartly with clear roles and goals is what drives results.
Inside SEA’s new work culture: A look into Vietnam’s hybrid transformation
Hybrid work in SEA is evolving slowly but deeply, with Vietnam at the centre of a shift toward more flexible, human-first models.
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