EV adoption revs up among logistics startups in SEA

This week’s On the Rise looks at logistics firms making the EV switch, the new investors shopping for SEA startups, and the launch of Llama 3. [Read from your browser]( On the Rise 🚀 Welcome to On the Rise! Delivered every Tuesday via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and trends in emerging tech. If you’re not a subscriber, get access by [registering here](. --------------------------------------------------------------- IN FOCUS In today's newsletter, we look at: - Why logistics firms are [turning to electric vehicles]( - New investors [buying into Southeast Asia]( - Why Llama 3 could bring AI to the masses Hello {NAME} , I've never ridden in an electric vehicle. I’m not sure why, but it probably has something to do with growing up in the US in the era of SUVs and V8s. I’ll admit I've always been a bit suspicious of anything that didn’t produce a putrid cloud of exhaust. I’m not saying this is how it should be. Climate change is making it clear that EVs are necessary to help cut down on everyone’s carbon footprint. But that was for personal vehicles. I didn’t think it was possible to produce enough energy to power a large cargo carrying truck. I was happy to find out I was wrong about that too. That’s what makes our first Big Story this week so important. Written by my colleague Elyssa, it focuses on how logistics firms across Southeast Asia are purchasing EVs. The motivations are simple: Their clients are demanding it. It doesn’t hurt that it also lowers operating costs. Not everyone has jumped on the bandwagon yet, but Elyssa has found a couple of companies who bought into EVs early. Speaking about early strategies, my colleague Collin in our second Big Story analyzes whether the turnaround strategies used by new investors looking to acquire startups could gain traction in Southeast Asia. These firms are looking to take advantage of the declining valuations and shrinking runway of startups, but several challenges persist. Finally, we’ll take a look at Llama 3, the large language model released by Meta on Friday. In an effort to save my weekend, I immediately tried to get Meta AI to write this intro. No luck. -- Scott P.S. The team behind this newsletter will be taking a short break next week. But fear not, we’ll be back in your inbox on May 7, 2024.  --------------------------------------------------------------- THE BIG STORIES 1️⃣ [Are SEA’s deliveries about to get greener? These logistics startups think so]( Logistics firms in Southeast Asia are turning to electric vehicles for cost savings. But a lack of charging infrastructure remains the biggest roadblock. 2️⃣ [New investors eye SEA startups seeking a lifeline, but there’s a catch]( As valuations fall and runways shrink, a new wave of investors in the region is eager to acquire and assume control of startups.  --------------------------------------------------------------- AI ODYSSEY Promising AI projects we’re noticing.  Llama 3 will kick-start AIs move to social media apps Meta launched [Llama 3 AI]( its open-source, large language model, on Friday. You’d be forgiven if you missed it. There has been a rush of AI releases [this month]( and that trend doesn’t seem to be going away. But Llama 3 isn’t just another update. First, it will be used to power Meta’s new chatbot, MetaAI, which will be included in four of the [firm’s flagship apps]( Facebook, Messenger, Instagram, and WhatsApp. Meta AI will initially be released in 13 countries and only in English. Singapore is the only Southeast Asian country in this list. While there are plenty of ways to access generative AI, this move puts the tech in the hands of 3 billion daily users. This means your parents and grandparents, for better or for worse, will now have the ability to ask questions and generate images at their fingertips. Given the more general (non-tech focused) audience on these apps, Meta says it wants to focus on providing a better user experience with additional features. My favorite is the [type-as-you-go]( image generator. This feature lets Meta AI continually redraw the image as you type, which can be a bit shocking if you’re not expecting it. However, it does make the creation process an interesting experience. The first time I tried creating an image, it made me wonder why my screen was freaking out. Other new [features]( include CyberSecEval, a cybersecurity feature that aims to prevent the generation of code that could be used in hacking attacks. But more important to a general audience is the child safety risk assessment. The image generation software was [tested]( to ensure that users can’t generate child porn. Meta might have an unparalleled audience, but it doesn’t have the processing capabilities that OpenAI has yet. Meta launched with two versions on Friday: Llama 3 8B, which comes with 8 billion parameters, and Llama 70B, which has 70 billion parameters. Meta [claims]( that, for their respective parameter counts, they are among the best-performing generative AI models available today. That may be true, but that “respective count” is nowhere near what OpenAI is working with. GPT-4, in comparison, is estimated to have 1.8 trillion parameters. [Parameters are the variables]( that AI models learn during training and are used by the model to determine what word comes next. The higher the number of parameters, the better the AI is at learning from its own data. But Llama 3 may just be a speed bump on Meta’s road to catch up with OpenAI. Yann LeCun, Meta’s chief AI scientist, announced that a 400 billion parameter version is also in the works, although he did not give any estimated release date. Expect the AI race to continue. -- Scott  --------------------------------------------------------------- NEWS YOU SHOULD KNOW Also check out Tech in Asia’s coverage of the emerging tech scene [here](. 1️⃣ [Oracle to invest $8b in Japan]( Oracle is earmarking over US$8 billion for investment into cloud computing and AI infrastructure over the next 10 years. The move follows other tech majors like Microsoft, which plans to spend US$2.9 billion in the country on the same infrastructure over the next two years. 2️⃣ [ByteDance’s edtech app now rises in US]( Gauth, an “AI homework helper” from ByteDance subsidiary GauthTech, was the second most downloaded education app in the US, behind only Duolingo. 3️⃣ [Vietnam’s eFishery equivalent seeks $20m catch]( Tepbac, which serves 5,000 shrimp farmers in Vietnam, is seeking US$10 million to US$20 million in funding to scale its business. Founded in 2020, the company has since diversified from making informational websites for farmers to now offering farm management software Farmext. 4️⃣ [Apple makes big splash in Singapore]( The tech giant will invest over US$250 million to expand its campus in the city-state to provide space for growth and new roles in artificial intelligence. 5️⃣ [East Ventures invests in cancer diagnosis startup]( Indonesia-based PathGen secured an undisclosed amount of funding from East Ventures and Royal Group Indonesia. The startup is developing next-generation sequencing for the diagnosis of cancer and other diseases and looks to create an affordable way to profile diseases.  --------------------------------------------------------------- FYI 1️⃣ [Pakistan’s startup funding shortage sorting the wheat from the chaff]( After the funding bonanza of 2021 dried up, the country’s startup ecosystem contracted in various ways, but that may not be entirely a bad thing. 2️⃣ [The road to Vietnam’s net-zero future is paved with electric vehicles]( Vietnam will look to transition almost all vehicles in the country into using renewable energy sources by 2050. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here]( and Tech in Asia’s signature events [here](. [Saigon Summit 2024 : Charting Vietnam’s Tech Future on May 30]( Startup Showcase is THE global stage for ambitious startups to connect with top investors and gain invaluable exposure. We just added more slots in response to overwhelming demand, but they're filling up fast. Don’t miss this opportunity - [apply now and get 10% off]( [Tech in Asia Conference Kuala Lumpur 2024 : Malaysia on The Rise on July 24-25]( Fintech and travel tech enthusiasts, this one's for you! Join us at the Tech in Asia Conference in KL to hear from Tonik Bank, CrescentRating & HalalTrip as they share their expertise and insights. Don't miss out - [purchase your tickets]( today! [Product Development Conference: Jakarta, 25-26 June 2024]( In this edition of Tech in Asia’s flagship conference for product talent, get access to keynote presentations, interactive Q&As, and networking opportunities that help you build, launch, and scale world-class products. Early-bird tickets are gone, but fear not—you can now grab first-release tickets at 50% off! Better yet, bring 2 friends and secure an extra 20% off. [Secure your spot now](. [Tech in Asia’s Founders Meetup in Singapore on April 24]( Amid the slump in the current macroeconomic environment, are VCs now ready to deploy funds? Well, we don’t have the answer, but we know experts that do. Panlists from Square Peg, MSW Ventures, and Antler will shed light into the cautious optimism around funding. They’ll also share their take on the verticals poised for a strong recovery and offer strategic tips to navigate the ongoing tech winter. [Get your ticket now]( [Tech in Asia’s Founders Meetup in Vietnam on May 30]( Founders Meetup is returning to Vietnam as part of the official closing party of Saigon Summit! Unwind and connect with founders, startup leaders, and investors from across the region at this premier networking mixer. Early bird tickets are fully redeemed – [get yours at US$12 now]( ---------------------------------------------------------------  That’s it for this edition - we hope you liked it! Do also check out previous issues of the newsletter [here](. Not your cup of tea? You can unsubscribe from this newsletter by going to your “edit profile” page and choosing that option in our preference center. See you soon! [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  Copyright © 2024 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894