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Hello readers,
Becoming a unicorn startup isn’t as rare an occurrence as it used to be. According to Wikipedia, when the term was first coined in 2013, there were only 39 companies that could claim the title. Now, it seems like a new unicorn pops up everywhere I turn. Building a billion-dollar company is an awesome achievement and a testament to how the tech and startup scene has grown globally.
As such, every startup ecosystem wants a few of these startups to call their own – and Malaysia is no exception. The country is looking to have five unicorns in its stables come 2025, and one of the likely candidates is drone tech startup Aerodyne. It’s certainly a prized jewel in Malaysia’s startup crown, but it’s also operating in an exciting space that’s starting to heat up.
— Stefanie
The Big Story
Aerodyne: Can it remain Malaysia’s drone jewel?
The Malaysian drone tech specialist is having a growth spurt, even eyeing an IPO. But its dominance at home and in the region may soon be challenged. Read more.
Trending news
1. Tiktok takes on Shein with ecommerce portal
Kang Zeyu, ByteDance’s ecommerce business head, is likely to lead the new project, TechNode reported, citing sources.
2. East Ventures leads $1.5m round of ex-Tiket exec’s quick commerce firm
Indonesia-based Bananas helps customers shop for groceries within 10 minutes via its dark stores located near high-density residential neighborhoods.
3. ShopBack names ex-Fave exec as managing director
As part of Aik-Phong’s new role, he will drive merchant adoption and forge partnerships for ShopBack’s services in Australia, Thailand, and Taiwan.
4. Gojek to roll out premium car-hailing service in Singapore
GoCar Premium will begin rolling out to all users in the city-state on February 14 with a fleet of premium taxis and four-seater vehicles.
5. 2 Chinese banks to go cashless
NewUp Bank of Liaoning and Zhongguancun Bank are set to suspend services involving banknotes or coins, SCMP reported.
6. YC, Sequoia back 🇮🇩 healthtech platform’s $2.6m round
Sirka offers professional advice on weight loss and lifestyle.
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