Oddle’s recipe for revenue falls flat as losses pile up

Sign up for the Daily Newsletter, sent exclusively to our premium subscribers. We break down the big and messy topics of Asia’s tech and startup community. Get the newsletter in your inbox everyday with a premium subscription.

Hi readers,

Remember when we used to have our lunches and dinners delivered almost every day during the pandemic? Yeah, those were long, uneventful days, especially for those of us who were in the Philippines, which had one of the longest lockdowns in the world.

But for one Singapore-based F&B SaaS startup, the pandemic was an opportunity for it to grow. Oddle introduced a food delivery solution in June 2020, just when restaurants were rushing to reach customers online. By 2022, the company said it had reached profitability.

Now that things have gone mostly back to normal, the company is pivoting once again as it struggles to keep the success it enjoyed two years ago. Read about how they are doing in last week’s top story.

— Elyssa Lopez, journalist at Tech in Asia

Top stories this week

Image credit: Timmy Loen

1️. Oddle’s revenue drops, loss widens in FY 2022 as food delivery slows
However, the Singapore-based company says it anticipated the drop in volume, which let it expand to new offerings like restaurant reservations.

2. Mapping the EV startups accelerating adoption in Asia
While China-based startups dominate EV manufacturing in Asia, others are playing catch-up and filling in the gaps of the region’s EV infrastructure.

3. Indonesia’s eduloan startups face bleak future amid losses, regulatory threats
Amid a struggle to boost revenue, eduloan startups in the country face public backlash and possible competition from the government’s loan program.

4. Impact of MoneySmart ruling trumps Shopee drama on non-competes
One case enforced an existing legal principle, while the other broke new ground and may have a big impact on employment contracts going forward.

5. A bot for your money? Wealthtech firms divided on tapping genAI for investment advice
A genAI-powered investment platform can tell you why you should buy a particular stock. But some think taking its advice is a bad idea.

6. Weekly funding: Gene Solutions brings home top spot for Vietnam
Keep track of all the startup investment activities in Asia through our weekly funding list.

7. Malaysia’s fintech and VC sectors are heating up
Fintech and semiconductor-related industries are expected to fuel growth in Malaysia’s tech startup ecosystem in the coming months.

Join us and our partners to discover the future of product development