India’s unicorns, SEA’s maturing startup scene, and China’s crackdown | Trusted Bytes News



This week, India continues its winning streak with investors, Southeast Asia’s start up scene grows up, and a few words on what’s happening in China.


Brought to you by Trusted Services.


STREAM NOW

YouTube

Apple Podcasts

Spotify

Feed


Want more news?

Catch up on the News on Broadcast channel Solve for ne{x}t on Telegram!

Solve for ne{x}t on Telegram


More about Trusted Services

Website

LinkedIn

YouTube

TRANSCRIPT


India’s unicorns, SEA’s maturing startup scene, and China’s crackdown | Trusted Bytes News

This week, India continues its winning streak with investors, Southeast Asia’s start up scene grows up, and a few words on what’s happening in China.

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.

It’s a continuing streak for startups in India as Nium, Droom, and ShareChat continue to be the darlings of the investment world. Nium, which offers cross-border payment services across multiple countries raised $200M in a Series D round to a $1 billion valuation (hello unicorn!) and vehicle marketplace Droom was valued at $1.2 billion in a pre-IPO filing. Content-sharing platform ShareChat raised $145 million to reach close to $3 billion valuation. ShareChat brings an interesting game to social networking in India, with 15 different Indian langugages, they have reached into the smaller Indian cities and towns, what’s known as the India 2 and India 3 markets.

No slouches in Southeast Asia as firms like PropertyGuru and Ninja Van signalling that IPOs might be coming in the near future. This adds to the many success stories in the region that range from Sea Group, GoTo, Grab, Lazada, Caoursell, and many others. The 2010s were a roaring decade for Southeast Asian startups - Tech in Asia counts over 12,000 of them - and the firms that solved problems with fintech, ecommerce and logistics solutions have really come a long way. Southeast Asia’s been able to leapfrog a lot of legacies in tech and as a result here consumers enjoy a new generation of mobile-first services. And, the story’s not over yet with many more startups emerging in supply chain, agritech, and retail. Don’t forget the BNPL wave that’s hitting many markets here, too.

With all the action around Asia, what’s happening in China? You might have heard how WeChat had to suspend new user registration and education technology pretty took a sledgehammer to the knees for foreign investment. Noah Smith in his newsletter on Substack gave an interesting take on how the government’s crackdown is less on “big tech” than it is on “unproductive tech”. It’s well-known that some of the biggest tech firms in fintech, edutech, and social platforms have been sucking up talent all over the world, and the output of those brilliant minds is… well, great consumer technology experiences. According to Smith and a number of observers the real play here is to re-channel the innovative and tech horsepower into developing capabilities to build geopolitical might, and not the popcorn and candy that’s fuelling the consumer technology boom.

And 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.

8 views0 comments