Check out our top articles for the week [Read from your browser]( Top Stories of The Week Hello {NAME} , I recently took up baking to beat the pandemic blues. While it has been relaxing, the most difficult part was gathering the ingredients - it always seemed like I was missing a few. A few weeks ago, I came across an app that promised grocery deliveries within 10 minutes. I hadnât even decided whether to bake a cake or just some muffins when the doorbell rang, and voila! My ingredients had arrived. The super-quick service was impressive and piqued my interest as a financial journalist to figure out how the model really worked. While experts questioned quick commerceâs economic viability, they all agreed that the service was undeniably attractive to consumers. The experts have tracked the evolution of the model and incorporated bits of it into their own businesses to avoid FOMO. Itâs also worth noting that the quick commerce delivery model has not yet found its feet in the US. In contrast, when we crunched the numbers, we found that Zepto, an Indian 10-minute delivery startup that came out of stealth mode in November 2021, is close to breaking even. While the figures are promising, the impact of the model on delivery staff can be alarming in some cases. Apart from a swathe of challenges they face in India, delivery personnel have highlighted complaints from customers for being even two minutes late on an order. This short delivery window also forces drivers to tread Indiaâs pothole-riddled roads at dangerously high speeds. The model is still in its infancy in India, and weâll have to wait and watch how it can be improved. For now, the big question remains whether these startups can balance convenience, economic viability, and driver safety. -- [Deepti Sri]( journalist at Tech in Asia --------------------------------------------------------------- TOP STORIES THIS WEEK 1. [Will Indiaâs 10-minute quick commerce model last?](
The 10-minute delivery model is taking India's ecommerce industry by storm. But is it viable in the long term? 2. [Indonesiaâs personal finance apps see new tailwinds - and VC funding](
After the rise of BukuKas and BukuWarung, some startups are hoping to follow the same trajectory by putting a consumer spin on the two firmsâ B2B products. 3. [Making sense of Grabâs Jaya Grocer acquisition](
The deal marks a seismic shift in Grabâs ecommerce push, but its foray into the grocery space may not be a smooth ride. 4. [Can Ovo, âshunnedâ by Tokopedia, keep the crown?](
While Ovo is still available as a payment option in Tokopedia, it is no longer in the most favorable position. But that may not matter in the long term. 5. [Behind Ulaâs entry into social commerce](
Jeff Bezos-backed Ula said that the number of transactions for its social commerce feature, Teman Ula, are now at around 70,000 orders per month. 6. [Women-focused fintech firm eyes $5m series A funding](
Lucy plans to roll its services out in Hong Kong, Indonesia, and the Philippines. 7. [Counting Indonesiaâs soonicorns and their backers](
Younger companies are becoming soonicorns faster than their more mature peers. 8. [This deck helped ð®ð³ chewable supplement firm get $6m funding](
Power Gummies is a producer of bear-shaped chewable nutritional supplements. 9. [Exclusive: Indonesiaâs CoLearn bags more funding to wrap up $27m series A](
While product diversification is a common move for startups flush with capital, CoLearn believes sticking to a certain expertise can bring big success. 10. [Alibaba, Tencentâs SEA investment spree in 2021](
Tencent joined 3x more funding rounds in 2021 than 2020, and both the company and its rival Alibaba are increasingly playing ball with investors in SEA. --------------------------------------------------------------- EVENTS HAPPENING You can check out a curated list of trending tech events [over here](.
- *Event* [[Workshop] What NFTs mean to startups in Southeast Asia]( on February 10th
Curious about NFTs and want to expand your insights about this phenomenon? On February 10, catch our workshop with David Shin, head of global adoption at the Klaytn Foundation, to learn more about the digital asset!
Get a single ticket to attend this workshop or subscribe to Tech in Asia Core at just US$0.55/day for unlimited access to all our workshops, signature conferences, and premium content.
- [AWS SaaS Forum]( on March 8th
Join the AWS SaaS Forum on March 8 to uncover opportunities and insights on SaaS trends, outlook for 2022 and how to build your business playbook. Attendance is complimentary. --------------------------------------------------------------- WHO'S HIRING [logo] [Senior React Engineer]( at Clade Ventures Pty. Ltd.
Tangerang, Indonesia IDR 15,000,000 â 23,000,000 [logo] [Backend Engineer]( at Paras Digital
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Jakarta, Indonesia IDR 10,000,000 â 20,000,000 [logo] [Project Management Officer (Yogyakarta)]( at Sampingan
Yogyakarta, Indonesia [logo] [Fresh Graduate Management Training Program]( at Deliveree Indonesia
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