Carsome, Next Gen Chicken, Seoul Goes Full IOT | Trusted Bytes News



We look at Carsome, Malaysia's first tech unicorn, a new plant-based chicken targeting the US, and Seoul racing onwards to be a smart city. Also, how this ASEAN nation accelerated digital adoption to lead the region by a wide margin.


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TRANSCRIPT


This week, Carsome - Malaysia’s first Unicorn, Next Gen’s plant-based chicken, Seoul goes full IOT

Welcome to Trusted Bytes! Here we give you week’s highlights in business news and emerging trends, with a lens on Asia. I’m your host Adrian Koh. If you like your news distilled like this, subscribe to us on YouTube or on any of your favourite podcasting services.

Carsome, Malaysia-based used car marketplace, is now the country’s first tech unicorn. The firm has been on track towards consolidating companies and assets, as it builds toward claiming the prize of being Southeast Asia’s biggest digital automotive group. In the meantime, rival car marketplace Carro is focused on upping the game through developing AI-based solutions for faster financing and loan management. All said and done, some observers say that the race might very well go to the one that makes the best use of fintech.

So we’ve heard about impossible meat, cloning cow cells for burgers, and cricket protein - now, how do you like plant-based chicken? Next Gen latest product, Tindle, a plant-based chicken substitute, launched this year and with $30 million of seed funding and recently added $20 million from investors like GGV. Next Gen is eyeing the US as a key market, which is estimated to be worth $7 billion. Plant-based chicken could be interesting – who doesn’t love a good fried chicken without guilt? – but as Ethan Brown, CEO of Beyond Meat, said, the holy grail is “fake bacon”.

The Seoul Metropolitan Government said that the city will be equipped with an IOT or internet of things network by 2023. This is part of a $86 million project to building a “Smart Seoul Network” or “S-Net”, that will see the city offer free public wifi, 5G, and decentralised digital IDs on the blockchain, among many other initiatives. Agencies will be deploying sensors to collect traffic, safety, and environment data, and take Seoul one big step closer to being a truly smart city.

Finally we look at Singapore. Businesses in Singapore were found to be adapting faster to new technologies than their peers in ASEAN. With as many as 94% increasing their utilisation of business analytics and other tools for decision-making, Singapore businesses led peers by a wide margin. Software-as-a-service (SaaS), infrastructure-as-a-service (IaaS), and platform-as-a-service (PaaS), and cloud adoption saw an 86% increase in uptake among Singapore businesses as well.

So that's all the time we have for now. Check in with us again next week for more highlights from the news from Trusted Bytes. I’m Adrian Koh, and Trusted Bytes is a production of Trusted Services.

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