How Anywheel put the pedal to the metal

More: Paytm Payments Bank gets some attention from India’s Enforcement Directorate and OpenAI unveils a new genAI model. [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: - [Anywheel’s journey]( over the last seven years - Carousell’s co-founder taking a step back - Other newsy highlights such as Paytm Payments Bank getting probed and OpenAI’s new text-to-video model --------------------------------------------------------------- Hello {NAME} Back in my university days, I remember having so little cash that I was doing whatever I could to save money. Despite my house being about a 15- to 20-minute walk away from the train station, I’d still walk instead of spending a dollar for a bus ride. Some days, I’d be hanging out late with my girlfriend, and after sending her home, I’d have no more public transportation available. In those instances, bike-sharing was a godsend. Normally, taking a Grab home would’ve cost me anywhere from S$6 (US$4.50) to S$10 (US$7.40) - that could buy me three or four meals! On the other hand, an Ofo bike ride would cost me less than half that amount. Those rides were kind of tough, to be honest. Getting home took about 20 minutes, and there were lots of uphill roads too. It also led to one of the craziest incidents I’ve ever experienced, but that’s a story for another time. Bike-sharing was a cheap, convenient way to travel for a cash-strapped student, and I was always grateful. That’s why I was rather sad to see that many operators closed down following stricter regulations. One player, however, has emerged from the ashes of the bike-sharing apocalypse: Anywheel. I’m not too familiar with it, given that it was a smaller player compared to Ofo and Mobike, but it’s still going strong even today. Today’s story explores how it survived all these years. -- Jonathan  ---------------------------------------------------------------  THE BIG STORY [Anywheel defies odds to survive Singapore’s bike-sharing wars]( Anywheel was around as a relatively small player during bike-sharing’s heyday in Singapore. Now, it still stands - despite a lack of VC funds. --------------------------------------------------------------- TRENDING NEWS [Singapore bolsters AI ambitions with $1b investment]( The plan, announced by Deputy Prime Minister Lawrence Wong, involves boosting Singapore’s local talent pool and securing access to chips for AI tasks. 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