Can Temu knock Shopee and Lazada off their pedestal?

More: Kita Agritech receives funding in a bid to digitalize farming in the Philippines and Indian hotel chain Oyo attempts to refinance a hefty loan. [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: - [Temu setting its sights on Southeast Asia’s ecommerce market]( - VinFast moving up the gears with decent Q3 2023 results - Other newsy highlights such as Good Doctor raising $10 million in funding and Oyo’s efforts to refinance a sizable loan --------------------------------------------------------------- Hello {NAME} I’ve been absolutely engrossed by the Netflix docuseries Beckham lately. I’m not just watching for the trip down memory lane through retired footballer David Beckham’s impressively varied catalog of hairstyles, though. Some of the best parts of the show for me feature former Manchester United manager: Sir Alex Ferguson. His gruff, no-nonsense Glaswegian manner of speaking makes him a must-watch. Unfortunately, his greatest quote has yet to make an appearance. After a slow start to a season in the early 2000s, one pundit foolishly opined that Ferguson was facing the greatest challenge of his career. He responded in a typically straightforward fashion: “My greatest challenge was knocking Liverpool right off their f*cking perch." The quote speaks to how hard it is to compete with someone or something that has already reached the top, which is the challenge Temu is facing in Southeast Asia. The Pinduoduo-affiliated ecommerce platform is squaring off with incumbents Lazada and Shopee for market share, who may be even more formidable opponents than Liverpool FC. -- Peter  ---------------------------------------------------------------  THE BIG STORY [Pinduoduo’s Temu offers SEA something unique, but gaining a foothold will be hard]( That said, Temu's entry can further sweeten the deal for ecommerce enablers and logistics firms. --------------------------------------------------------------- TRENDING NEWS [Uptick in EV sales fuel VinFast’s revenue bump in Q3]( The company delivered 10,027 units in Q3 2023, pushing revenue for the quarter to US$342.7 million, according to unaudited financial results. [Grab-backed Good Doctor secures $10m to double down on Indonesia]( Grab, SoftBank, and MDI Ventures now serve as minority shareholders of Good Doctor after this investment. [Kita raises $3m to digitalize Philippines’ agriculture supply chain]( The agritech firm sources fruits and vegetables directly from farmers to serve B2B clients in the local hospitality industry. [India’s Oyo explores loan refinancing options with 20 entities]( An Oyo spokesperson said that the refinancing plan does not reflect the company’s financial health. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Weekly funding: Indonesia’s Investree, GoTo hold top spots]( Keep track of all the startup investment activities in Asia through our weekly funding list. --------------------------------------------------------------- CONNECT WITH FELLOW DECISION-MAKERS AT BRIDGE+ Get a ticket to this exclusive gathering on November 16 to think outside the box A key element of successful businesses is the ability to continuously pave a path towards growth and profitability amid changing market trends. Though scaling typically happens behind the scenes, it's crucial for decision-makers to consider best practices and to get creative on how to improve and gain recognition for their work on this process. Keen to find out how it’s done? Get it straight from senior business leaders, talent managers, and founders at Brushstrokes to Success: Design a Solid Growth Plan for 2024, an exclusive gathering co-hosted by Tech in Asia and G-P at Bridge+ on November 16. Gain and exchange insights with our panelists from Aspire, 2C2P, and G-P in an open Q&A session. Over light bites and drinks, we’ll also go through an exciting agenda of quizzes, modern calligraphy, panel discussions and more. Don’t miss this opportunity to revolutionize existing strategies and to elevate your decision-making abilities. [Get a ticket]( to this closed-door event NOW before they’re all snatched up! ---------------------------------------------------------------  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. - [AD] [Sip ‘n’ Discuss Sunset: Exclusive Event for Succesful Marketing Leaders]( on 23 November Join SpinX for a fun yet exclusive after-work Thursday sunset session full of marketing wisdom and poolside drinks, tailor-made for marketing leaders. Click [here]( - [AD] [StartmeupHK Festival]( on November 8 to 17 Any industry conference worth its salt would feature experts in their respective fields sharing the latest insights. This year’s StartmeupHK Festival features a wide range of speakers across different industries. Attendees can look forward to thought-provoking discussions from the likes of Eric Huang, managing director of Paradigm Venture Partners; Joyce Lee, general manager for Taiwan at Moderna; Marina Domracheva, founder and CEO of 3D Predict; Jirayut (Topp) Srupsrisopa, founder and group CEO of Bitkub Capital Group; and Alex Xu, CEO of MultiMetaVerse. Find out more about their sessions and get your ticket by visiting the festival’s [website](. - [Tech in Asia x Airwallex - Exclusive Mixer]( Mingle with APAC's Payment and Growth Leaders on November 14 Meet and connect with your peers at Exclusive Mixer: Mingle with APAC's Payment and Growth Leaders, an invite-only networking event on November 14 co-hosted by Tech in Asia and Airwallex. This isn’t your run-off-the-mill corporate event. It’s a gathering of forward-thinkers across Asia Pacific and anyone eager to discover best practices in optimizing and streamlining payment journeys at scale. Grab drinks and light bites while soaking up Singapore’s cityscapes from Honcho’s rooftop bar as you mingle. Come hang out and unwind at this relaxed and casual mixer - all refreshments are on the house! [Get your ticket]( to this closed-door event and build lasting connections. Slots are limited so secure yours NOW! - [Brushstrokes to Success]( Design a Solid Growth Plan for 2024 on November 16 Join senior business leaders and decision-makers at the upcoming “Brushstrokes to Success: Design a Solid Growth Plan for 2024.” Co-hosted by Tech in Asia and G-P, this exclusive event will be held at Bridge+ on November 16. This goes beyond the typical corporate gathering by providing a space where forward thinkers can challenge themselves and explore best practices for scaling businesses from creative and analytical perspectives. Gain and exchange insights with our panelists from Aspire, 2C2P, and G-P in an open Q&A session. Over light bites and drinks, we’ll also go through an exciting agenda that includes quizzes, modern calligraphy, networking and more. Don’t miss this opportunity to revolutionize your business approach and make meaningful connections. [Get your tickets for this closed-door event NOW]( before they’re all snatched up! ---------------------------------------------------------------  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. - Aspire - [Aspire Makes Global Fintech Top 100 List, Alongside Six Other Singapore-HQ]( Startups]( Singapore is the third most represented country on the list, marking the city state’s clear advancement onto the world fintech stage ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Legal Manager]( at KoinWorks Jakarta, Indonesia - [Marketing Analytics Intern]( at Finku Jakarta, Indonesia - [Investor Relations Associate/Senior Associate]( at Deliveree On-Demand Logistics (Southeast Asia) Jakarta, Indonesia - [Strategic Planning Operation Junior Associate (Appraisal)]( at Moladin Digital Indonesia Jakarta, Indonesia - [Creative Lead]( at Scout.inc Jakarta, Indonesia - [Video Editor]( at Creativera Digital Asia Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. 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