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Hi readers,
As I’m nearing the end of my 20s, the pressure to be healthier is real. Suddenly, I feel extra conscious of what I eat, how I sleep, and what I allow myself to stay up late for. For the past year, I’ve done some experiments to stay healthy – including not eating anything sweet for breakfast (tragic!).
But like any experiment, not everything works. And startups know a thing or two about experiments.
For instance, Doctor Anywhere was trying its hand at medical tourism last year. When its CEO Wai Mun Lim spoke to Tech in Asia in 2023, he aimed for the startup to close the year with S$100 million (US$77 million) in revenue. But its latest financial report shows it fell short of that goal.
The company registered S$81 million (US$62.4 million) in revenue last year, a 58% jump from 2022. Yet, that still led Doctor Anywhere to an operating loss. Our story unravels the factors that contributed to its financial performance and discusses its current focus on secondary care as it now aims for “profitable growth.”
— Elyssa Lopez, journalist at Tech in Asia
Top stories this week
Image credit: Timmy Loen
1️. Doctor Anywhere grows revenue 58%, narrows losses in 2023
Financing expenses worth US$9.7 million dampened the company’s otherwise stellar year in terms of revenue.
2. Can’t afford $300k for AI chips? New model for SEA cuts high costs
Startups looking to build AI models face heavy costs, but Recursal is mixing old and new tech to make market entry easier.
3. Why PDD’s earnings miss will slow Temu’s SEA expansion
The ecommerce firm’s rapid rise has hit its first roadblock after disappointing earnings results from its parent company.
4. SEA’s listed tech majors in 19 charts: GoTo and Bukalapak slide
These companies could dictate whether more global investors will back Southeast Asia and decide the fate of the region’s tech industry.
5. IFast, analysts refute short-seller claims, assert sustainability
The firm has continued to guide for revenue from its ePension unit to be sustained over a contract period of seven years.
6. Chicken, ice cream, and travel gear: new bets from SEA VCs
Amid the tech winter, some VCs are betting on consumer brands that provide a more “predictable” path to profitability.
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