Taking the garbage out: SG firm’s profitable play

This week’s On the Rise dives into Blue Planet’s waste management efforts, the layoffs at RedDoorz, Temasek’s ecosystem, and AI in the music industry. [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: - [An SG waste management firm’s speedy rise]( - Layoffs at RedDoorz - Temasek’s role in the startup ecosystem - AI giving counterfeit music a new spin Hello {NAME} I’ve become an avid thrifter in the past few years. With platforms such as Depop, Vestiaire Collective, Carousell, and Huntstreet gaining momentum, I’ve found that vintage clothing is often more affordable, durable, and unique. [Much of Gen Z seems to feel the same]( especially in Indonesia, where the government has [even sought to block]( online shops that sell imported second-hand goods out of fear that these may impact the local economy. With the popularity of TikTok and Instagram, fashion trend cycles have accelerated over the past few years. Popular articles of clothing can be deemed [“cheugy”]( less than three months after they came into fashion. It seems that we’re now past the idea of the aesthetically defined trend decades like that of the 70s or even the noughties. Along with this comes overconsumption, and sites such as Shein and Alibaba have made this all too easy. Though a lot of my generation (Gen Z) contributes to this, a growing segment is [opting for more sustainable options]( hence the resurgence of thrifted goods as a way to lessen one’s impact on the climate crisis. This growing consciousness not only comes from consumers but also from corporations, as waste management has become crucial in facing climate change. One of those leading the pack in Southeast Asia is Singapore-headquartered Blue Planet. In this week’s Big Story, my colleague Nikita details the firm’s road to its US$321 million valuation. So far, Blue Planet has acquired 10 firms engaged in recycling and waste management, with more deals in the pipeline. In 2020 to 2021, the profitable firm grew its revenue by 6x. Even amid last year’s startup slump, the company managed to increase this figure by 24%. Seeking profitability, another Singapore firm, RedDoorz, has laid off close to 90 employees. My colleague has more details on the hospitality firm’s move in an exclusive story. Meanwhile, our reporter, Collin, has an updated map detailing Temasek’s role in the startup space. In our AI segment, AI Odyssey, I dive into generative AI’s effect on the music industry and unpack the impact behind the tracks made by Fake Drake and Counterfeit Kanye. -- Shadine  --------------------------------------------------------------- THE BIG STORIES 1️⃣ [SG firm mints profits from waste management]( An acquisition-fueled growth strategy helped Blue Planet, a waste management firm valued at US$321 million, turn profitable in the last two years. 2️⃣ [Exclusive: RedDoorz lays off about 90 employees in 'non-core' markets]( The hospitality firm is consolidating its business to focus on Indonesia and the Philippines, which contribute about 95% of its annual revenue.  --------------------------------------------------------------- MAKING WAVES [Mapping Temasek’s role in the startup space (updated)]( The Singapore-based investor has launched 38 companies, including 14 investment firms and a venture-building arm, in its quest for disruptive businesses.  --------------------------------------------------------------- AI ODYSSEY Promising AI projects we’re noticing. AI, the synthetic siren Music is a large part of my life - I consistently log hundreds of thousands of minutes on Spotify annually. However, as much as I and other fans support artists through the service, creators still earn [an incredibly low cut]( for the volume of streams. As of late, AI has made their jobs a bit more difficult. Voice replication with generative AI has become common. Programs such as [So-Vits-SVC]( simply require a short audio sample to immediately clone a voice, then it can replace or mimic vocals on a preexisting track. The tool, which has created glaringly fake covers of hits such as [Hey There Delilah]( in the style of Kanye West, was initially started as a joke. But content creators have come to capitalize on the now-uncannily realistic songs. Last week, [an original song called Heart on My Sleeve]( mimicked the voices of Drake and The Weeknd and was uploaded on Apple Music, Spotify, YouTube, and Tidal, among others. The [track]( which was later removed, garnered over 1.6 million listens on Spotify. Counterfeits have always been a problem in the music industry. From duplicate vinyl and bootlegged records to [file-sharing via Napster]( in the early 2000s, music has been susceptible to theft because of how easy it is to distribute. Though Heart on My Sleeve wasn’t a direct copy of any existing work, it utilizes copyrighted material to create, depriving artists of compensation for their intellectual property. But most frighteningly, the work is non-consensual and can be misappropriated to convey messages the original artist may disagree with. The acceleration of innovation in generative AI has also made it difficult for legislators to keep up. In the US, current laws state that [works that are “transformative”]( do not infringe copyright. However, this term is open to interpretation. After an influx of AI-generated music, Universal Music Group, under which Drake and The Weeknd are signed, [told streaming platforms]( that it “will not hesitate to take steps” to protect its rights and those of its artists. Though there’s some disapproval of the new AI tech, some artists welcome it. Singer Grimes [told her Twitter followers]( that fans should “feel free” to use her voice without penalty and said she is fine with receiving 50% of the royalties for these. This would be the “same deal” she would have with any artist she collaborates with anyway, she said. Regardless, this tech is here to stay. Google has also been developing [MusicLM]( a text-to-audio program trained on over 280,000 hours of music. As creating deepfakes become increasingly simple, the question remains: will artists embrace or evade the call of AI? -- Shadine  --------------------------------------------------------------- NEWS YOU SHOULD KNOW Also check out Tech in Asia’s coverage of the emerging tech scene [here](. 1️⃣ [India's financial watchdog pays Byju's a visit:]( India’s Directorate of Enforcement (ED) has conducted a search and seizure action at three Bengaluru properties linked to edtech giant Byju’s and its founder and CEO Byju Reveendran. The agency said the raid was carried out based on provisions of the Foreign Exchange Management Act (FEMA). 2️⃣ [Educational gAIdance:]( Singapore-based edtech firm Imajin has raised US$1.4 million in a pre-series A round, with Astonic Ventures, Mavis Tutorial Centre, and Singapore Asia Publishers participating. The firm uses AI to generate personalized study plans. 3️⃣ [Green cuisine:]( Better Bite Ventures, a venture capital firm based in Singapore, has opened up its alt-protein fund once more, after announcing its four most recent investments. The firm injects US$50,000 into each startup selected. 4️⃣ [Bets on for the Global South:]( US-based Capria Ventures has announced its US$100 million-target fund for emerging economies. The firm is eyeing 20 to 25 startups that are using generative AI across verticals such as edtech, healthtech, and fintech. 5️⃣ [Rise of the nautical AIssistant?]( Greywing, a Singapore-based platform for ship operators, has launched SeaGPT, an AI chatbot used to assist shipping companies with port communication. The solution was designed to solve email overwhelm, a common problem among crew managers.  --------------------------------------------------------------- FYI [Gen Z: the new force in the Indonesian market]( Gen Z is just starting to enter the workforce. But in a few years’ time, the entire generation will be of working age in Indonesia.  --------------------------------------------------------------- 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 next week! [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 © 2023 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894