It’s the time of the year again as we take a look back at what had happened in 2022 in the tech and startup scene, before ushering into 2023.
The year 2022 has generally looked less rosy as compared to 2021 as the tech industry is clouded with layoffs and a slowdown in fundraising activities.
Tech giants such as Meta, Amazon were seen slashing Jobs in an uncertain economy. Tech companies including venture capital-backed startups in Southeast Asia have also announced layoffs and austerity measures to cope with an uncertain macroeconomic situation.
In June, iPrice Group, a Malaysia-based e-commerce platform helping shoppers find the best deals online, said it is laying off 20 percent of its staff.
Malaysia’s first tech unicorn, Carsome, has announced in September a group-wide accelerated profitability plan which includes job cuts, citing macroeconomic challenges. The used car platform said less than 10 percent of the workforce will be affected.
In November, Indonesia’s GoTo Group announced it is cutting 1,300 jobs or about 12 percent of its headcount. In the same month, it was reported that Singapore-based gaming and e-commerce giant Sea Ltd has laid off more than 7,000 employees, or around 10 percent of its workforce, over the past six months.
Singapore-based e-commerce platform Carousell announced in December it is letting go about 10 percent of its headcount — or approximately 110 positions. In the same month, Singapore-based talent recruitment platform Glints has also announced it is reducing its team size and retrenching some of its staff.
On the fundraising front, VC-backed companies raised only $369 billion during the first three quarters of 2022, far from the whole of last year’s $679.4 billion invested globally, data from Crunchbase showed.
While we hope for a better 2023, here are the top-read news articles on TechNode Global:
1. Vietnamese electric motorbike startup Dat Bike raises $5.3M in Series A led by Jungle Ventures
Vietnamese electric motorbike startup Dat Bike raises $5.3M in Series A led by Jungle Ventures
2. Malaysia’s Carsome announces ‘group-wide accelerated profitability plan’ including job cuts
Malaysia’s Carsome announces ‘group-wide accelerated profitability plan’ including job cuts
3. Grab said to be eyeing stake in Malaysia’s sixth largest banking group Ambank-report
Grab said to be eyeing stake in Malaysia’s sixth largest banking group AmBank – report
4. Malaysia’s Bookdocs Founder & CEO Chevy Beh Dies (Our Deepest Condolences*)
5. Grab launches intercity travel service in Malaysia & Singapore
Grab launches intercity travel service in Malaysia and Singapore
6. Singaporean insurtech provider cyber sierra raises 4.3m seed fund led by leo capital
Singapore insurtech provider Cyber Sierra raises $4.3M seed fund led by Leo Capital
7. Singapore’s ShipsKart raises $2.7M Series A funding led by TMV and Hermes Offshore
Singapore’s ShipsKart raises $2.7M Series A funding led by TMV and Hermes Offshore
8. Indonesia’s Moladin raises $95M Series B funding to grow its automotive ecosystem
Indonesia’s Moladin raises $95M Series B funding to grow its automotive ecosystem
9. Malaysia’s unicorn Carsome’s part of KAF-led consortium winning digital bank license
Malaysia’s unicorn Carsome’s part of KAF-led consortium winning digital bank license
10. Indonesian e-grocery startup Sayurbox raises $120M Series C funding led by Alpha JWC, Northstar
Indonesian e-grocery startup Sayurbox raises $120M Series C funding led by Alpha JWC, Northstar
Featured photo credits: Unsplash