Speed bumps derail Ninja Van’s rough ride to profitability

We assess the troubling times ahead for Ninja Van, and spotlight India-based unicorn Oyo setting the stage for a public listing in November. [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: - [The significant challenges that lay ahead for Ninja Van]( - Softbank-backed Oyo setting the stage for a second crack at an IPO - Other newsy highlights such as the 50 rising startups in Singapore --------------------------------------------------------------- Hello {NAME} Founded in 2014, Ninja Van gradually rose through the ranks to become a leader in Southeast Asia’s logistics space. The Singapore-based unicorn made quick work of navigating cultural nuances in each regional market - something only a handful of startups can lay claim to. But Ninja Van’s steady ascent - spurred in part by the growth in ecommerce and rising internet penetration across Southeast Asia - is now in danger of kicking into reverse gear. The firm not only more than doubled losses for the year ending June 2022 but also reported a hefty rise in cost of sales and administrative expenses. With Ninja Van under the cosh, today’s featured piece sheds light on how the firm is planning to push through the bumpy ride ahead. The premium story also details some key insights from Lai Chang Wen, co-founder and CEO of Ninja Van, on the logistics industry, the firm’s latest earnings report, and its diversified approach toward managing its balance sheet. -- Shravanth  ---------------------------------------------------------------  THE BIG STORY [Challenging times ahead for Ninja Van as losses spike and growth slows]( The Southeast Asian logistics player rode the ecommerce wave but is now facing slower industry growth and intense competition. --------------------------------------------------------------- TRENDING NEWS [Sequoia, Tencent join SG quantum computing firm’s $18.1m round]( Horizon Quantum Computing has opened an office in Ireland, which will serve as its new engineering center. [50 rising startups in Singapore]( Which startups are on the path to becoming the next big thing? [Fresh Factory bags over $4m to tackle cold chain fulfillment]( The Indonesia-based startup aims to scale to 100 fulfillment centers across 50 cities by the end of the year. [Oyo gears up for $600m IPO in November]( The amount is half of the US$1.2 billion it had intended to raise in October 2021 via an India listing. [A list of fundraising startups from Asia (Updated)]( Fundraising is hard. To make things slightly easier, we’ve compiled this list of fundraising startups for our subscribers. [US scrutiny toward TikTok unlikely to impact SEA, say experts]( Regulators in Southeast Asia are not expected to consider banning or limiting the app in the near future. --------------------------------------------------------------- TECH IN ASIA'S PRODUCT DEVELOPMENT CONFERENCE 2023  Hooked: How to build habit-forming products Getting a customer is just the first step - retaining them is the hard part. The solution? 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