Unpacking Line Man’s 2022 financials

More: Co-working firm Worq raises funds. [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: - [How Line Man Corporation fared in 2022]( - An Indian insurtech firm that’s raised fresh funds - Other newsy highlights such as co-working firm Worq’s pre-series B fundraise --------------------------------------------------------------- Hello {NAME} The rise of food delivery services is truly a blessing. Last week, I was down with a cold, and as this coincided with my family members being away, I had to take care of myself. This included figuring out meals and, quite frankly, the thought of trying to cook or walking out to the coffee shop to buy food while enfeebled made me feel even fainter. Fortunately, I could just open up one of the many delivery apps on my phone and order several hearty portions of comforting rice congee to be delivered right to my doorstep. It was a relief to not have to worry about how I was going to get my next meal while I was recovering. And on that note, in another one of my awesome seamless segues, let’s look at the financial performance of Line Man Wongnai, a major player in Thailand’s food delivery scene, in today’s premium story. -- Stefanie  ---------------------------------------------------------------  THE BIG STORY [Line Man posts 52% increase in 2022 revenue, EBIT losses improve]( Line Man's recent acquisitions of Rabbit Line Pay and FoodStory may diversify its revenue mix beyond food delivery in the coming years. --------------------------------------------------------------- TRENDING NEWS [Malaysian co-working space Worq secures pre-series B funds, says it’s profitable]( The startup says its revenue has grown 80% year over year so far in 2023, with net profit margins in the mid-teens. [InsuranceDekho secures $60m in second funding round of the year]( With its agency business already profitable, the company as a whole aims to be so by year-end, CEO Ankit Agrawal told Tech in Asia. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Southeast Asia’s top-funded tech companies in the last decade]( As investors in Southeast Asia race to back the next industry leader, which tech firm will claim the region's funding crown --------------------------------------------------------------- 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 toward 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](. - [B2B Sales Account]( at PT Solusi Kode Indonesia (Solecode) Jakarta, Indonesia - [IT Support Assistant - SINGAPORE ONLY]( at Speedoc Singapore, Singapore - [Travel Designer (Italian Speakers)]( at True Indonesia Tangerang, Indonesia - [Area Head SME Lending (Jakarta)]( at AwanTunai Jakarta, Indonesia - [Web Engineer - Corporate IT&IS]( at Scout.inc Jakarta, Indonesia - [DevOps Engineer [FREELANCE]]( at PT docheck Bagi Indonesia Bandung, Java, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. 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