B2B blues for Ula and Udaan

More: Big funding energy for an Indonesian EV startup. [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: - [Ula and Udaan may need a U-turn]( - Line-based martech startup Micoworks raises funding from Vertex - Other newsy highlights such as funding for Indonesian EV battery startup Swap Energy --------------------------------------------------------------- Hello {NAME} It’s that time of year when a lot of us are discovering how hard it is to build new habits. I’m trying to exercise more as one of my New Year’s resolutions, and I know it will be an uphill battle as life just gets in the way, even if you think you’ve got into that healthy new routine. Back in the summer of 2021 when Hanoi was about to enter its first serious Covid lockdown, I bought an exercise bike, as going outside was out of the question. For weeks, I rode that thing daily and thought it was just part of my life. Not so, however, as once the lockdown ended, the bike lost all appeal and started collecting dust. Ula and Udaan looked to have cracked the code to FMCG-focused B2B ecommerce during the pandemic, when retailers needed new methods to get their products. But now, they’re discovering how hard it is for any person or business to build and maintain new habits. -- Peter  ---------------------------------------------------------------  THE BIG STORY [Ula, Udaan’s struggles cast shadow on B2B ecommerce’s future]( Here's why these well-funded startups, which serve neighborhood stores in Indonesia and India, respectively, are facing significant challenges. --------------------------------------------------------------- TRENDING NEWS [Qiming Venture Partners leads $22m round of Swap Energy]( Founded in 2019, the Indonesian EV firm aims to address charging infrastructure limitations in the electric two-wheel vehicle segment. [Vertex injects $24.5m in Line-based martech startup]( Japan-based Micoworks, which helps businesses interact with customers through Line, is eyeing Taiwan and Thailand next. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Japan’s top-funded tech companies in the last decade]( Our automated tracker can help you keep an eye on the funding activities of Japan's tech firms as they close in on the billion-dollar mark. ---------------------------------------------------------------  IN PARTNERSHIP WITH How Braze wants to empower founders and level the playing field “With great power comes great responsibility.” This adage, popularized by the Spider-Man comics, applies to tech firms too. Companies have to achieve business goals, but it doesn’t mean that profit should be the only thing that matters. New innovations, for instance, should not be treated as just another revenue stream but also as something that can make a positive difference. That’s why customer engagement platform Braze has expanded its product grant program, Tech for an Equitable Future, to Asia Pacific. Under this grant program, founders can enjoy 12 months of free access to the Braze platform and supporting services. They’ll get help with their customer engagement needs, such as processing data as well as outreach and marketing efforts. Braze, which holds “equity” as one of its guiding social impact pillars, hopes to remove barriers for underrepresented founders like women. This helps everyone have an equal chance at developing solutions that can benefit society and become the next tech star. Apply for the Tech for an Equitable Future program [here](. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [The Future of MarTech: Trends Shaping 2024 and Beyond on January 16]( On January 16, senior marketing, product and growth leaders in Singapore are invited to kickstart the year at The Future of MarTech: Trends Shaping 2024 and Beyond, an executive roundtable and networking lunch. Limited to just 15 guests. [Full details & registration here!]( ---------------------------------------------------------------  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](. Our team will get back to you by the next business day. - Frends - [Frends Appoints Vincent Ooi as New Head of APAC, Building on ASEAN Success]( Frends appoints Vincent Ooi as Head of APAC, expanding its European iPaaS reach in the region - GoTo Group - [GoTo becomes the first Indonesian public company to receive validation from the Science-Based Targets initiative on its net-zero target]( GoTo Group is the first Indonesian public company to have its greenhouse gas reduction targets validated by the Science Based Targets initiative (SBTi). The approved three targets which include reaching net-zero emissions by 2050. ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Tech Startup Founder - Indonesia]( at Antler Jakarta, Indonesia - [Merchant Acquisition (HiToko Indonesia)]( at Dealls Jakarta, Indonesia - [Business Intelligence Analyst - Internship]( at kumparan.com Jakarta, Indonesia - [Database Administrator]( at DataOn Corp Tangerang, Indonesia - [Senior Backend Developer]( at Scout.inc Yogyakarta, Indonesia - [Frontend Developer (Contract)]( at Youtap Indonesia Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Tech in Asia thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. Too many emails? 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