Tada! Here comes profit?

More: Malaysian ecommerce startup Ejen2u scores funding. [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 huge revenue jump powering MVL’s quest for profit]( - Waste not, want not for WasteX - Other newsy highlights such as fresh funding for Malaysian ecommerce player Ejen2u --------------------------------------------------------------- Hello {NAME} Ride-hailing is a tough business to be in, no matter what side you look at it from. Drivers for the likes of Uber, Grab, and Gojek work long hours, often for low pay and few benefits, and precarious job security. It's not a gig for the faint-hearted: Even these large companies find the industry a slog. Uber, for instance, recorded its first profitable quarter only in Q2 of this year after racking up more than US$31 billion of losses since 2014. Uber is synonymous with the industry, so it’s fair to say most other ride-hailing platforms are playing the game on hard mode. That’s why a smaller player like Tada and how it's pushing its operator Mass Vehicle Ledger (MVL) towards profitability is worth noting. It ain't the next Uber, but could Tada become a profit engine for MVL? Watch this space. -- Peter  ---------------------------------------------------------------  THE BIG STORY [Tada parent firm MVL posts over 300% jump in revenue, moves closer to profitability]( The South Korean blockchain startup narrowed its annual loss by 45% in 2022, while revenue from its mobility and delivery services tripled. --------------------------------------------------------------- TRENDING NEWS [Wavemaker-backed WasteX wants to turn farm waste into biochar]( Its end-to-end solution begins with a proprietary small-scale, modular equipment used by clients across three Southeast Asian countries. [Gobi Partners backs Malaysia’s Ejen2u to bolster reseller management platform]( The startup has served over 340,000 resellers across Malaysia and facilitated around US$115 million in sales. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Mapping AI startups pushing SEA into the spotlight]( In 2022, a record-breaking 32 AI startups secured funding in Southeast Asia, a large portion of which followed the release of ChatGPT. --------------------------------------------------------------- TECH IN ASIA CONFERENCE 2023 We’ve got less than a week to go till Tech in Asia Conference 2023, and we’ve put so much work in to make it happen. Of course, none of this would be possible without generous help from others, particularly our title sponsor Seek and diamond partner East Ventures as well as support from Jakarta Smart City and Kominfo. If you’re brimming with excitement for next week just like we are but don’t have tickets yet, go [get them now]( ---------------------------------------------------------------  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](. - [Chief Product Officer]( at Pintar Ventura Group Jakarta, Indonesia - [Product Manager]( at SwipeRx Jakarta, Indonesia - [perwakilan penjualan]( at durable seal s-Graveland, Netherlands - [Senior Product Manager (Finance)]( at AwanTunai Jakarta, Indonesia - [Network Monitoring Center - Cikarang]( at Scout.inc Cikarang, Indonesia - [Marketing Executive]( at PT Quantum Metal Indonesia Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. 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