Will PropertyGuru branch out as revenue growth slows?

More: Alt-protein firm Green Rebel expanding to the Philippines and Vietnam. [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: - [Why PropertyGuru is looking beyond slowing revenue growth in Q1]( - GoTo-backed Electrum planning to manufacture 250,000 e-bikes annually - The expansion plans of alt-protein startup Green Rebel - Other newsy highlights such as a Singapore-based travel firm raising funds and buying CardsPal --------------------------------------------------------------- Hello {NAME} “Dream homes” are probably the most frequently used words by real estate agents. Growing up in the early 2000s, I recall posters of listings being stuck across school walls, apartment gates, trees, lamp posts, and even on the back of government-run buses. I mean these folks were literally everywhere. It was a world where open houses became awkward encounters with fellow house hunters and agents who had enough brochures to possibly build the world’s largest paper plane. But could you really blame them? After all, who wouldn’t aspire to live in the property of their dreams. Businesses knew that well before, and even better today. Hence, the rise of online portals for real estate, such as PropertyGuru, comes as no surprise. These platforms are essentially the modern-world assimilation of the posters I saw all around my hometown as a child. But matters aren’t exactly going according to plan for real estate operators in Southeast Asia at the moment. Governments in Vietnam and Singapore are attempting to cool property market activity. The knock-on effects of these efforts are reflected in PropertyGuru’s financials. The New York-listed firm recently posted its lowest revenue growth since the first quarter of last year, while adjusted EBITDA in Q1 2023 plunged by 60%. Today’s featured piece highlights why the proptech company’s near-term plight may not be entirely in its hands even if it hold the keys to unlocking Southeast Asia’s housing market potential. -- Shravanth  ---------------------------------------------------------------  THE BIG STORY [PropertyGuru looks past slowing revenue growth in Q1, talks up AI and M&A]( The proptech company’s revenue in the first quarter of 2023 was 16% higher than a year ago, but its adjusted EBITDA plunged by 60%. --------------------------------------------------------------- TRENDING NEWS [GoTo-backed Electrum to manufacture 250k e-bikes annually]( Electrum’s EV factory, located in Indonesia’s West Java province, will also include testing facilities. [SG travel firm raises funds from SC Ventures, buys CardsPal]( Following the deal, CardsPal will provide Utu with a digital marketplace, a promotions engine, and a merchant registration portal. [Alt-protein firm Green Rebel readies to serve the Philippines, Vietnam]( By the end of this year, the Indonesia-based firm looks to raise US$8 million to US$10 million in its series A funding round. [Kakao Mobility inks deal with Vietnam-based VinFast]( The deal includes plans to integrate Green and Smart Mobility (GSM)’s electric taxi rental platform with ride-hailing service Kakao T. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Series SEA: Who’s investing in the region’s AI startups?]( We've compiled a list of investors that are pouring money into Southeast Asia’s AI startups. ---------------------------------------------------------------  SYNC 2023: CLIMATE TECH  Reimagine sustainable innovation and tap into climate tech’s investment potential SYNC is back this year with a first-of-its-kind gathering that spotlights Asia’s climate tech leaders. Mark your calendar for August 21, 2023 and join us at the iconic Gardens by the Bay in Singapore for our annual tech summit. At this invite-only event, you can explore the vast potential of climate tech, a thriving field that showcases innovation and lucrative opportunities. You’ll also get to meet cutting-edge startups and connect with inspiring investors to propel your business forward. Find out more about SYNC 2023: Climate Tech and apply for your invitation [here](. Early bird tickets are available for a limited time - sign up now and secure your place among the chosen few! ---------------------------------------------------------------  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! - [Tech in Asia’s Founders Meetup: Thailand on July 26]( Want to be where Thailand’s founders converge? Join us at our networking event, which will be held on July 26 at theCOMMONS, Thonglor, 335/1 Sukhumvit 55 Klongton Nua, Wattana, Bangkok 10110 from 5:30 p.m. to 7:30 p.m. Whether you’re facing fundraising challenges or navigating the complexities of talent acquisition, connect with fellow founders and find solutions to your most pressing issues while offering your own expertise. Don’t miss out - sign up now! - [SYNC 2023: Climate Tech on August 21]( Do you want to make a positive impact on the fight against climate change? Join SYNC 2023 on August 21 at Singapore's green haven, Gardens by the Bay, to learn more about sustainable innovation and eco-friendly practices. Besides spotlighting climate tech via this invite-only event, Tech in Asia is committed to reducing our carbon footprint. 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