Welcome to On the Rise! Delivered every Tuesday via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and trends in emerging tech. If you’re not a subscriber, get access by registering here.
Hi there,
I’m a diehard fan of Marvel’s superhero movies.
But to be honest with you, the latest addition to the Thor franchise missed the mark for me.
It had a stellar cast, a blockbuster budget, and Marvel’s brand reputation to ride on. All of that didn’t shine through on the big screen.
Back in the real world, voice assistant startup AI Rudder’s growth has been stunning. But it’s also failing to meet expectations in some ways. In this week’s Big Story, my colleague, Collin, sheds light on what really happened.
AI Rudder has a lot going for it. Its leadership team comprised veterans from global tech companies. The startup recently raised a US$50 million series B round that counted leading investors Tiger Global and Sequoia Capital. Plans to expand the company’s presence in Asia Pacific are also in the works.
Yet, AI Rudder is seeing a shakeup at the top just months after securing fresh funds. As conflicting narratives from founders and employees clash, the layers peel away to reveal product issues.
As the economic downturn ensues, AI Rudder may not be the only startup facing turbulence. In this week’s Making Waves, Tech in Asia spoke to 500 Global managing partner Vishal Harnal on how founders should adjust their fundraising expectations.
— Tian Wen
(Note: On the Rise will be back in your inbox on August 23 after a short break.)
THE BIG STORY
Shake-up at Sequoia-backed AI startup as APAC expansion hits snag
Image credit: Timmy Loen
AI Rudder, which recently raised US$50 million in funding from prominent investors, is facing roadblocks that may hurt its growth.
MAKING WAVES
NEWS YOU SHOULD KNOW
FYI
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
