Tooth be told, SG's Zenyum bucks dental downtrend

Check out our top articles for the week. [Read from your browser]( Top Stories of the Week Welcome to Tech in Asia's free Sunday newsletter! Get full access to our subscribers-only premium content and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. Hello {NAME} In Jakarta, people can avail dental braces at small roadside clinics, often administered by self-proclaimed "dental experts." I was surprised to find out that some of my acquaintances here used these services during their youth. This shows how crucial personal appearance is for young people in metropolitan cities. A friend of mine even confessed to frequently skipping school to save her pocket money for affordable dental braces. However, during the pandemic, such cosmetic needs appeared to take a back seat. The global dental industry took a hit, evident from the [widespread closures]( of dental practices. Amid this downturn, one company demonstrated resilience. Zenyum, specializing in 3D-printed invisible braces and cosmetic dental treatments, reported a 27% year-on-year growth in its aligner business and a revenue surge of 40% for the financial year ending April 2022 (FY 2022). Despite incurring US$22 million in losses during the same period, the Singapore-based startup managed its expenditures in FY 2023, successfully reducing losses by over 30%, as [confirmed]( by founder and CEO Julian Artopé. Now, Zenyum's trajectory is clear - it aims to achieve profitability before exhausting its runway in 2024 and to complete a new funding round after turning a profit. -- [Budi Sutrisno]( journalist at Tech in Asia  --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [Singapore’s Zenyum is EBITDA-profitable in its largest markets, CEO says]( The oral care startup’s ratio of revenue to selling and distribution expenses improved to 2.8 in FY 2023. 2. [Grab’s financial health in 11 charts]( These charts offer a snapshot of how Grab is performing. 3. [Decline in YC funding to SEA firms ‘not intentional’: CEO Garry Tan]( The VC firm may have funded fewer startups in Southeast Asia in the last two years, but its CEO has a message for founders here: It’s open for business. 4. [Indonesia’s ecommerce map reveals sector slowdown, company struggles]( Funding for Indonesian ecommerce players is the lowest in seven years. Some firms have pivoted while others have closed down. 5. [How Sunrate reached $100m in annualized revenue while staying profitable]( The Singapore-headquartered company has been net profitable since 2021. 6. [For this VC, Asia’s proptech sector is a good place to land]( Feedback Ventures wants to invest in 15 to 20 proptech firms across Asia Pacific. To date, the Singapore-based firm has backed nine such startups. 7. [Scorpio Electric’s losses climb 15% amid negligible revenue in FYE 2023]( The Singapore-based EV firm posted a loss of US$2.4 million while its revenue plunged by 44% to just US$1,080. 8. [Is Singapore’s ‘30 by 30’ food security goal too far-fetched?]( Singapore has set an ambitious 2030 goal for its food sector. But it’ll need some technological leaps to achieve that target. 9. [Shark Tank-funded startup hits profitability building budget laptops]( Primebook plans to enter Vietnam and Indonesia soon and has a retail market strategy for India next year. 10. [Malaysia’s Cradle investigates official over alleged sexual harassment]( The startup agency says it is committed to ensuring a safe and respectful work environment. --------------------------------------------------------------- TECH IN ASIA’S FOUNDERS MEETUP: VIETNAM Did you miss last June’s meetup? Great news: We’re coming back to HCMC for another round of our exclusive, founders-only networking event! With over 3,000 startups and four unicorns, Vietnam is solidifying its position as a prominent startup hub in Southeast Asia. As the country continues its upward trajectory, it’s essential to familiarize yourself with the opportunities and challenges in its startup scene. 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