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Hello reader,
As a writer and editor, I’m loath to use cliched phrases. However, some just really put the point across so well that I give them a pass.
“Two steps forward, one step back” is an example, and I can think of several instances in my life where the phrase has applied perfectly. Like most people, I’ve taken my lumps, but thanks to a refusal to completely lay down, some luck, and a little help from my friends, I’m currently in a generally good place.
Sunseap, a Singapore-based renewable energy startup, appears to be in the “one step back” point – after two years of profitability, it posted its biggest loss in seven years. In today’s premium article, we dive into what led to this dramatic reversal.
As someone who really hopes that renewable and green energy takes off in a big way, I hope the firm takes a couple steps forward soon.
Today we look at:
- The numbers behind Sunseap’s biggest loss in seven years
- Wavemaker Impact closing its US$25 million maiden fund
- Other newsy highlights such as Huawei launching its Spark Incubator Program and Binance’s potential acquisition of FTX
Premium summary
The seven-year itch
Image credit: Timmy Loen
Another personal story of perseverance: My wife and I became first-time owners of a little puppy dog a little under two months ago, and it’s been a real crash course in a new kind of responsibility. Baxter, our mini dachshund, is incredibly cute but also a real handful and sometimes – he’s a little too smart for his own good.
The first couple weeks, when we had no idea about his idiosyncrasies and patterns, were a mess. We couldn’t get him to go potty on the pad, he wasn’t eating right, and he just seemed restless most of the time.
Fast forward to today, and while it’s still a work in progress, it’s more hits than misses when it comes to toilet training, he’s eating well, and we’ve mostly figured out when and why he gets into his little tantrums. It’s taken a lot of training and learning (thanks, YouTube tutorials!), but I think we’re getting there.
I’m fairly sure that Sunseap, despite suffering its biggest loss in seven years, can come back. But let’s take a look at why it’s in the red for now.
US$25 million should make a big impact
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