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In focus
- How costly Vizzio AI’s ambitious plans are proving
- Raisewell aims to put the SEA in Silicon Valley
- Inside Sea’s Q3 profit surge
Hello reader,
In 2023, Singapore-based startup Vizzio’s founder John Lee claimed that the company was making US$18 million in revenue that year. The actual figure, as its latest filings show, is closer to US$1.9 million.
For a startup that dreams of building a “whole-Earth digital twin,” that’s a big reality check.
The deeptech firm, which uses AI to create 3D replicas of cities from satellite and street data, saw its loss before taxes deepen 63% year on year to US$4.4 million in FY 2024, even as revenue climbed 32% to US$2.6 million.
The company continues to burn cash to power its R&D-heavy vision. Its bet may be on technology, not immediate returns.
Between ambitious claims, rising losses, and past controversy over its founder’s fake Ph.D., Vizzio’s journey is a reminder that building the future – especially one at a planetary scale – can be both dazzling and expensive.
Meanwhile, my colleagues Jofie and Melissa report that US-based Raisewell Ventures has secured US$50 million for its new fund. It plans to begin investing in Southeast Asian startups next year.
Samreen Ahmad, journalist
Top Stories
1️⃣ Vizzio’s revenue rises in FY 2024, but losses deepen
Photo credit: Vizzio
Vizzio’s rising operating expenses and dependence on investor capital underscore the funding challenges of a deeptech startup.
It is building a planetary-scale 3D mapping system that can transform satellite, street, and video data into digital twins of entire cities.
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