These startups fuel the tight race in SEA's auto space

More: Grab plans its largest set of layoffs and Alibaba CEO steps down. [Read from your browser]( Daily Newsletter --------------------------------------------------------------- Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - [The moving parts of SEA’s automobile market]( - Singapore-based Carro invests in Malaysian digital content firm Driven Communications - Other newsy highlights such as Grab planning its largest layoffs and Alibaba’s CEO stepping down --------------------------------------------------------------- Hello {NAME} Gone are the days where you had to visit a car dealership to check out the latest models or the best secondhand units. No more hearing the grand pitch from car salespersons on why their deals are miles ahead of the competition, right? Well, think again. As it happens, people still like to touch, feel, and more importantly test vehicles before making a purchase. Carro and Carsome know this all too well. The Southeast Asian used-car giants have now integrated their online and offline services, allowing users to go online and schedule an offline vehicle check at their recently opened physical stores. This is only one among the many twists and turns currently coming to light in Southeast Asia’s automobile market. Today’s featured piece revs up the engines to take all the gearheads (and more) on a joyride through this wacky world. From the emergence of electric vehicles to the red ocean of the auto ecommerce space, the premium story explores the shifting dynamics in all the little pockets of the auto landscape in the region. -- Shravanth P.S.: If you’re an entrepreneur looking for funding, [fill out this form]( to get your company featured on our list of fundraising startups.  ---------------------------------------------------------------  THE BIG STORY [Mapping SEA’s auto startups: Competition drives push into financing, EVs gain ground]( Automotive ecommerce players have expanded their services into financing as electric vehicles gain momentum in Southeast Asia. --------------------------------------------------------------- TRENDING NEWS [Grab plans largest layoffs amid growing competition: report]( Grab Holdings’ shares have slumped 70% since its NY stock market debut in late 2021. [Alibaba CEO and chairman steps down to focus on cloud business]( Taobao and Tmall chairman Eddie Yongming Wu will become the next Alibaba CEO. [Carro backs Malaysian automobile content firm Driven Communications]( Driven Communications handles Paultan.org, an automotive review and news website that sees up to 6 million monthly active visits. [GoTo-linked VC rebrands, closes $240m second fund]( Now known as Argor, the firm will scout for both early and mid-stage companies that tackle large and attractive market opportunities. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Vietnam’s top-funded tech companies in the last decade]( Our automated tracker makes sure that you aren't late to the country’s next unicorn party. ---------------------------------------------------------------  TECH IN ASIA'S FOUNDERS MEETUP: VIETNAM  Join us and share the hardest challenges you’ve faced as a founder If you’re an entrepreneur based in Vietnam, you’re invited to Tech in Asia’s Regional Founders Meetup, which will be held on June 28 at The Sentry in Ho Chi Minh City (2/F Sonatus Building, 15 Le Thanh Ton, District 1) from 5:30 p.m. to 7:30 p.m. Join us and share the hardest challenges you’ve faced as a founder. To help you find solutions, we’ll introduce you to fellow founders who have been there and done that. Starting up doesn’t have to be a lonely journey. [Register]( for this exclusive event here today. Tickets are priced at US$12.50 per person, inclusive of light bites and one drink. Slots are limited and are available on a first come, first served basis. Thanks to our official event partners - AWS, CleverTap, Cooley, D.Camp, Sinarmas Land, Singapore Global Network (SGN), and Quest Ventures - and our community partners - WeWork and Gobi Partners - for making this meetup possible. ---------------------------------------------------------------  PRESS PEEKS The following press releases were published as they were received, without any editing from the Tech in Asia team. You too can publish your own press release on Tech in Asia by simply filling in [this form](. Our team will get back to you by the next business day. - MyStorage - [MyStorage disrupts the storage industry in Vietnam with a high-tech approach]( On top of offering 5-star storage & moving solutions, MyStorage has focused on delivering seamless online features that take the storage experience in Vietnam to a whole new level. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [Tech in Asia’s Founders Meetup: Vietnam on June 28]( Our networking event, Founders Meetup: Vietnam, is happening in Ho Chi Minh City on June 28 at The Sentry, 2/F Sonatus Building. Join us and share the hardest challenges you’ve faced as a founder. To help you find solutions, we’ll introduce you to fellow founders who have been there and done that. Register today! - [SYNC 2023: Climate Tech on August 21]( Join an elite league of founders, investors, researchers, corporate leaders, and more at SYNC 2023 in Singapore. Build powerful alliances, explore possibilities, and gain insights from Asia’s top minds at this invite-only event, which will be held on August 21 at the iconic Gardens by the Bay. Want to score a ticket? 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