Indonesia’s Torch heats up with Init 6 funding

More: Syfe’s latest round of funding and big financial results from big companies. [Read from your browser]( Daily Newsletter Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](.  --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - [How Torch has lit its growth path]( - Syfe closing a US$27 million funding round - Alibaba’s financial health in 12 charts - Other newsy highlights such as Tencent's latest quarterly results --------------------------------------------------------------- Hello {NAME} Even though I’m very much an indoors kind of person, I’d say climbing Mt. Batur in Indonesia is one of the highlights of my life. It’s just the right amount of challenge, and seeing the sun rise while eating a bowl of Indomie upon reaching the peak was a unique feeling. I also recently went on a solo trip to Thailand, and I’m already looking forward to doing it again - this time in Japan. I haven’t set a date yet, but I already know there’s one thing I want to do when I get there: climb Mt. Fuji. All of this is to say, I could really do with some equipment from the subject of today’s premium article: Torch, an Indonesian brand specializing in travel gear. -- Winston  ---------------------------------------------------------------  THE BIG STORY [Init 6 adds travel gear brand Torch to D2C portfolio]( Indonesia-based Torch, which offers travel essentials such as bags and footwear, aims to have 50 physical stores by 2029. --------------------------------------------------------------- TRENDING NEWS [Syfe raises US$27 million to grow in key markets, expand in India]( This latest round, which comes three years after the digital wealth manager's previous financing, was joined by two UK family offices and existing investors Valar Ventures and Unbound. Syfe said its valuation increased with this round but declined to reveal any figures. [Tencent beats quarterly profit estimates on strong video gaming and ad growth]( Thanks to its video gaming arm and improved advertising performance, Tencent posted an 82% jump in profit to 47.6 billion yuan (US$6.6 billion) for the quarter-ended June. Meanwhile, total revenue reached 161.1 billion yuan (US$22.5 billion), up 8%. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Alibaba’s financial health in 12 charts]( Alibaba is China's largest ecommerce company. But it's lost some of its shine against nimbler rivals. ---------------------------------------------------------------  SYNC 2024 - AI • SINGAPORE Get ready for a game changer SYNC 2024 is taking on a new dimension. This year, we're diving deep into the world of artificial intelligence - the force that's reshaping industries, driving innovation, and redefining the future of business. AI is already here, but it's only just beginning to reveal its true potential. This summit will bring together Asia's leading experts to explore how AI is transforming business models and discuss the latest advancements in the sector. Expect candid conversations on how AI can be harnessed to address global challenges, from maximizing the human-genAI synergy to tackling climate change. Find out more about [SYNC 2024]( today. ---------------------------------------------------------------  PRESS PEEKS The following press releases were published as they were received, without any editing from the Tech in Asia team. You too can publish your own press release on Tech in Asia by simply filling in [this]( page](. 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