Flash Coffee’s success: no instant brew but constant grind

Check out our top articles for the week [Read from your browser]( Top Stories of The Week Hello {NAME} When I started writing for Tech in Asia, Flash Coffee was among the first few companies that I covered. At the time, the company’s Jakarta branch - its first physical store - had just closed down. The grab-and-go beverage firm made the decision after Covid-19 took a toll on its financial health. Flash Coffee CEO David Brunier sounded disheartened for obvious reasons, but he also had a solid plan to rise from the downfall. That was in 2021. Since then, the company has been raising funds to potentially enter the unicorn club. All through the year, Flash's investors have pinned their hopes on the company's product-market fit, which offers enough incentives for consumers to choose it over Starbucks or Luckin Coffee. I'm a big fan of zero-to-hero stories, and Flash Coffee has my heart for being a #supportlocal brand that has also hit profitability at most of its stores. My takeaway is clear: A business that takes the risk of adapting to dynamic business environments is a business that can thrive. Do you also have a rags-to-riches story that pushes you to be your best self on Monday mornings, much like your coffee? I'm all ears. -- [Deepti Sri]( journalist at Tech in Asia --------------------------------------------------------------- TECH IN ASIA CONFERENCE Tech startup funding in the region remains high, key verticals are growing steadily, and new technologies are gaining traction. Though the industry is not immune to macro challenges like rising inflation rates, pandemic aftermaths, and other headwinds, it's definitely not all bad news. At Tech in Asia Conference, our Main Stage speakers will share how the building blocks are here for aspiring, scaling and sustaining tech businesses, and how the region is poised to come out on top, near and long-term. [GET YOUR EARLY BIRD TICKET]( P.S. [TIA Lite and Core subscribers]( get the most from our community - including a FREE ticket to Conference 2022, and exclusive access and offers at the event itself! --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [Exclusive: Rocket Internet-backed Flash Coffee bags $33m in first series B tranche]( Currently, the Singapore-based coffee firm is in the final stages of hitting the second close of its series B round. 2. [Has Malaysia’s largest VC lost its luster?]( Mavcap may boast a billion-ringgit fund, but its role in the country’s VC landscape has come under fire. 3. [Indonesia’s Robinhoods face biggest test as market slows: retaining users]( Onboarding first-time retail investors and diversifying their products could be the answer. 4. [Exclusive: Ex-Warner Bros bosses join $10m round of SG content marketplace]( Of the total money it expects to bank in the round, Vuulr has so far raised US$7.7 million, which includes funds raised via convertible notes. 5. [The $22b question on Byju’s valuation]( As uncertainties around financials and funding rounds plague the edtech giant, a key question remains unanswered: How will this affect its valuation. 6. [A who’s who of projects facing frostbite in the crypto winter]( Here's a list of companies and projects that have been hit the worst by the crypto winter. 7. [Tech winter scrambles hiring landscape, but opportunities exist despite layoffs]( Tech firms are still looking for talent, but they’re hiring with caution. Meanwhile, job seekers are sticking to firms with little need for more funding. 8. [Jakartanotebook is 6 years older than Tokopedia – and still standing without VC funds]( The Indonesian marketplace is one of the country’s ecommerce pioneers and adopted an online-to-offline strategy as early as 2003. 9. [Recession run: East Ventures’ bets during a downturn]( Managing partner Roderick Purwana has some advice for startup founders and talks to Tech in Asia about the firm's near-term investment strategy. 10. [Hodlnaut may have had $187m exposure to Terra collapse]( Crypto wallets linked to Hodlnaut show the lender could have been holding US$187 million in UST when Terra collapsed. --------------------------------------------------------------- EVENTS HAPPENING You can check out a curated list of trending tech events [over here](. - *Event* [SYNC]( on Aug 3rd-5th, Conrad Bali Tech in Asia is excited to host our first closed-door, in-person networking summit in two years at Conrad Bali, Nusa Dua. 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