Streaming killed the cable TV star

More: US$1.6 million in seed funding for an India-based B2B manufacturing firm and Traveloka’s positive numbers. [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 steady decline of Astro]( - A US$50 million series B round for an Indonesian EV company - Other newsy highlights such as Traveloka’s positive financials and the US$1.6 million seed round of an Indian B2B firm for interior designers and architects --------------------------------------------------------------- Hello {NAME} As an enjoyer of fantasy novels and tabletop roleplaying games, I’ve read and heard many a worldbuilding lore spiel. There will always be the inevitable rise and fall of empires, with this eternal cycle giving rise to heroes and villains who define their respective eras. Having now been on this plane of existence for just over three decades, I’ve seen similar things play out in real life. For example, Facebook used to be the social media platform. Now, it’s mostly populated by your older relatives, with everyone else having long since left for Instagram or TikTok. This cycle of dominance and decline appears to also be playing out in Malaysia’s media scene, specifically with long-time incumbent Astro. Find out what’s happening to the media giant in today’s premium article. -- Winston  ---------------------------------------------------------------  THE BIG STORY [How tech destroyed Astro’s dominance in Malaysian pay-TV]( The media giant had a 20-year monopoly but is struggling to adapt to competition. --------------------------------------------------------------- TRENDING NEWS [Foxconn fund backs Indonesia EV company’s $50m series B]( The funds will be used to speed up network expansion in Indonesia and product development of the Alva e-motorbikes. [Traveloka posts 75% increase in revenue, cuts loss by 29% in 2022]( Travel and local services make up 86% of Traveloka’s revenue, with the rest primarily coming from financial services. [Indonesian brand aggregator Hypefast lays off 30% of staff]( The decision was made in preparation for potential challenges in 2024, including increased costs of sales and higher logistics expenses. [Surge leads $1.6m round of Indian B2B interior design platform]( Boxs provides customizable design modules and an instant pricing engine to help designers estimate costs. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Will Grab drive a profit in 2025?]( American ride-hailing firm Uber recently announced its first profitable quarter. Some metrics show Grab may be following close behind. --------------------------------------------------------------- TECH IN ASIA'S FOUNDERS MEETUP: INDIA Navigating Singapore's shifting news horizons: a fireside chat with Tech in Asia's editorial experts Delve into insightful editorial discussions about the latest news and trends in Singapore led by our Tech in Asia duo: COO Maria Li and tech editor Collin Furtado. Taking into account the interest of Bangalore-based entrepreneurs in Singapore's startup ecosystem, we have crafted a fireside chat to dive deep into the city-state's evolving news landscape. Mark your calendar for August 25 and join us in the heart of Bangalore at Byg Brewski to connect, learn, and exchange ideas with fellow founders from the Tech in Asia community. Why navigate the startup journey alone when you can collaborate with others and break through barriers together? This event is happening soon, so act fast and secure your entry [here](. Tickets are now on sale at US$12.50 (around 1,029 rupees) each, inclusive of complimentary light bites and free-flowing beer and mocktails. Hurry, tickets are limited. Avoid FOMO and claim your spot today! Special thanks to our official event partners - AWS, CleverTap, Cooley, Sinarmas Land, Singapore Global Network (SGN), Quest Ventures, and Purple Quarter - and our community partners - WeWork, Gobi Partners, ConnectFarmer, Draper Startup House, Spicy Rocket, WeFounderCircle, and Founders Forum Group - for making this meetup possible. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [Tech in Asia Conference]( from October 18 to October 19 Do you see the light at the end of this funding winter’s tunnel? We do, and we believe Southeast Asia is that very light. That’s why this year’s Tech in Asia conference’s theme is Southeast Asia: A Bright Spot in the Tech World - signaling how the region can provide hope and guidance for the tech sector amid some troubling times. Hosted in Jakarta from October 18 to October 19, we’re excited to bring you a great lineup of speakers, thought-provoking sessions, and other activities. Click [here]( to get your limited first-release tickets.  - [Tech in Asia’s Founders Meetup: India on August 25]( Do you want a closer look at India’s tech scene? Discover the hidden gems of India’s startup ecosystem at our networking event on August 25 at Byg Brewski (9, 36, 4th Floor, Vaishnavi Sapphire Centre, Tumkur Rd, Yeshwanthpur Industrial Area, Phase 1, Yeswanthpur, Bengaluru, Karnataka 560022) from 5:30 p.m. to 7:30 p.m. Whether you’re facing roadblocks in funding or 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](  - [Tech in Asia x CleverTap: Unraveling the Value of Customer Engagement on September 13]( Are you looking for ways to cut through the noise and stay ahead of the curve as rapidly advancing technology transforms the digital landscape yet again? We’ve got just the event for you, where you’ll learn how experts harness AI-driven tools to craft truly personalized customer experiences and predict behavior for long-term success. Apply for a ticket to join our dinner on September 13 to uncover the power of hyperpersonalization with CleverTap so you can excel in customer engagement and retention. Limited seats available - sign up [here]( now!  - [Tech in Asia’s Founders Meetup: Philippines on September 27]( Did you miss us the first time? Great news - we’re coming back to Manila on September 27 for the eighth edition of our networking event! A shift towards digital transformation has propelled tech firms at the forefront of the Philippines’ startup ecosystem. While opportunities abound, it’s not without its challenges. Need some insights on how to navigate and thrive in this scene? Come join us at WeWork Uptown (9/F, Uptown Place Tower 3, 36th Street cor. 11th Avenue, Bonifacio Global City, Taguig) from 5:30 p.m. to 7:30 p.m. Connect with fellow startup leaders to learn how you can grow beyond the early stages of your journey and explore solutions to pressing issues. [Sign up now!]( ---------------------------------------------------------------  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]( page](. Our team will get back to you by the next business day. - Accel - [Accel Kicks-Off Atoms 3.0 Program with AI and Industry 5.0 focused cohorts; unveils cohort structure]( Accel has opened applications for the AI and Industry 5.0 cohorts to help early-stage startups in India, Southeast Asia and the UAE. - FIDO Alliance - [FIDO APAC Summit Keynotes and Sponsors Announced]( Cybersecurity experts, including a former convicted hacker, will share insights on passwordless authentication best practices at the summit. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Data Analyst (WFO)]( at BintanGO Jakarta, Indonesia - [Extended Workforce Specialist]( at Evermos Bandung, Java, Indonesia - [SQL Developer]( at Avows Technologies Jakarta, Indonesia - [Tech Recruiter]( at Sagara Technology Group Jakarta, Indonesia - [IT Insfrastructure Engineer]( at Bina Nusantara Group Jakarta, Indonesia - [Visual Designer Lecturer]( at Purwadhika Digital Technology School Tangerang, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. 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