Questions abound around this EV firm's sky-high valuation

More: SeaMoney lays off staff, and Antler has a new partner in Indonesia. [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: - [Scorpio Electric’s brow-raising valuation]( - The latest fundraise of a battery-swapping startup in India - Other newsy highlights such as SeaMoney’s layoffs and Antler’s new partner in Indonesia. --------------------------------------------------------------- Hello {NAME} Are electric vehicles a big deal in your country? Here in Singapore, they’re certainly on the up. One of the more popular car-sharing services in the country, BlueSG, has an entirely electric fleet, and the government is rolling out more charging stations around the city-state. It’s no surprise then that EV startups are getting attention from investors and consumers alike. However, it’s still a pretty nascent space, and valuations tend to reflect that. That’s why when Singapore-based EV firm Scorpio Electric raised over US$6.7 million in January 2023 at a valuation of US$150 million, eyebrows went up. Let’s take a closer look at what’s going on. -- Stefanie  ---------------------------------------------------------------  THE BIG STORY [The brow-raising $150m valuation of SGX-listed firm’s EV brand]( EuroSports Global’s Scorpio Electric says it will start producing and distributing e-bikes later in 2023. But its valuation may need justification. --------------------------------------------------------------- TRENDING NEWS [Battery Smart raises $33m to add 100,000 customers by 2025]( The EV battery-swapping firm currently has 25,000 active customers across Tier 1, 2, and 3 cities in India. [SeaMoney sheds jobs in Indonesia]( The company said the move is part of its “regular review of business operations” to maximize efficiency. [Antler names Warung Pintar co-founder as partner in Indonesia]( Agung Bezharie Hadinegoro will lead Antler’s investment strategy and operations in the country, targeting over 30 deals in 2023. [Zenith Learning Group secures $1.4m to move into edtech]( The Singapore-based firm plans to launch Zenith Academy+, which combines physical centers with a gamified online platform. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Vietnamese consumers still bullish on crypto]( Coming in a close second to traditional savings, crypto is Vietnamese consumers’ top investment choice for the next 12 months, a survey found. ---------------------------------------------------------------  TECH IN ASIA'S FOUNDERS MEETUP: THAILAND  Come aboard and discover how you can navigate through the challenges of your startup journey. Are you a founder seeking solutions to your startup’s most pressing issues? Or are you someone who can offer your own expertise to help others overcome their roadblocks? 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Click [here]( to get your early bird tickets. ---------------------------------------------------------------  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. - MindOS - [AI Agent Creator Platform MindOS Launches Open Beta]( Customizable AI agent creator platform MindOS is now open to all users. The open beta launch came as MindOS rolled out 6 new features. - CryptoCloud - [CryptoCloud Crypto Payment Gateway Now Available in The Philippines]( CryptoCloud is now processing cryptocurrency payments for businesses in the Philippines. That's excellent news for business owners in the country. - Averett - [Innovative 360 Video Conferencing: Redefining the Standard with 4K Resolution, AI Tracking, and Plug-and-Play Functionality]( Introducing the new Kandao 360-degree 4K all-in-one conferencecam. 4K HDR video, AI speaker tracking, and plug-and-play. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Product Designer (Jakmall.com)]( at Dealls Jakarta, Indonesia - [SAP ABAP]( at PT Arbeit Infotech Indonesia Jakarta, Indonesia - [Pyhton Developer]( at SIGMATECH Tangerang, Indonesia - [Software Engineer In Test (Automation Testing)]( at Cermati Jakarta, Indonesia - [Business Development intern]( at Little Joy Indonesia Jakarta, Indonesia - [Microsoft 365 Specialist]( at NRI Indonesia Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. 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