Editor’s take: The week that was — May 30-June 4

The after-effects of a pandemic-induced global slowdown, rising inflation and geopolitical tensions are sending shockwaves across the startup world, and Asia is no exception. With fundraising becoming tougher and layoffs becoming more common, caution is the keyword.

The week started on a sombre note with Indonesia-listed technology major PT GoTo Gojek Tokopedia (GoTo) reporting a wider loss in the first three months of 2022 despite a 53% year-on-year growth in gross revenue. At the same time, the company has injected fresh capital to the tune of $58.6 million into its subsidiaries Velox SEA and GoPay, according to regulatory filings.

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