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Hi readers,
In Jakarta, people can avail dental braces at small roadside clinics, often administered by self-proclaimed “dental experts.” I was surprised to find out that some of my acquaintances here used these services during their youth.
This shows how crucial personal appearance is for young people in metropolitan cities. A friend of mine even confessed to frequently skipping school to save her pocket money for affordable dental braces.
However, during the pandemic, such cosmetic needs appeared to take a back seat. The global dental industry took a hit, evident from the widespread closures of dental practices.
Amid this downturn, one company demonstrated resilience. Zenyum, specializing in 3D-printed invisible braces and cosmetic dental treatments, reported a 27% year-on-year growth in its aligner business and a revenue surge of 40% for the financial year ending April 2022 (FY 2022).
Despite incurring US$22 million in losses during the same period, the Singapore-based startup managed its expenditures in FY 2023, successfully reducing losses by over 30%, as confirmed by founder and CEO Julian Artopé.
Now, Zenyum’s trajectory is clear – it aims to achieve profitability before exhausting its runway in 2024 and to complete a new funding round after turning a profit.
— Budi Sutrisno, journalist at Tech in Asia
Top stories this week
Image credit: Timmy Loen
1️. Singapore’s Zenyum is EBITDA-profitable in its largest markets, CEO says
The oral care startup’s ratio of revenue to selling and distribution expenses improved to 2.8 in FY 2023.
2. Grab’s financial health in 11 charts
These charts offer a snapshot of how Grab is performing.
3. Decline in YC funding to SEA firms ‘not intentional’: CEO Garry Tan
The VC firm may have funded fewer startups in Southeast Asia in the last two years, but its CEO has a message for founders here: It’s open for business.
4. Indonesia’s ecommerce map reveals sector slowdown, company struggles
Funding for Indonesian ecommerce players is the lowest in seven years. Some firms have pivoted while others have closed down.
Did you miss last June’s meetup? Great news: We’re coming back to HCMC for another round of our exclusive, founders-only networking event!
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