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Hello reader,
As a Singaporean, I’m incredibly unfamiliar with motorcycle taxis as a concept. They’re not something you see here – as a matter of fact, I think they’re illegal.
However, elsewhere in the region, motorcycle taxis are a booming business. That’s how ride-hailing giant Gojek got started – it originated as a platform for Indonesians to book motorcycle taxis, which are called ojeks in the country.
In today’s premium story, we’re looking at a different part of Southeast Asia – the Philippines, where motorcycle taxis have become more common in recent years. In particular, we take a closer look at Angkas, which has been shut down thrice since it was founded in 2016 – but keeps coming back.
Today we look at:
- Angkas and the motorcycle taxi race in the Philippines
- Big money going into Danantara
- Other newsy highlights such as Maya being in the black and upGrad’s AI incubator program
Premium summary
Motorcycle taxi wars

Image credit: Timmy Loen
Angkas is a motorcycle taxi app in the Philippines, enabling users to book rides through its platform. While it’s enjoying a first-mover advantage, it’s dealing with some major headwinds.
- Stiff competition: Angkas faces intense competition from Move It and JoyRide, which have made an impact on its market share and driver earnings. Grab’s acquisition of Move It has significantly disrupted the Philippines’ motorcycle taxi market.
- Uncertainty abounds: The country’s motorcycle taxi industry operates under regulatory uncertainty, which has stifled the sector’s development.
- Keeping your chin up: In the face of these challenges, Angkas is seeking new avenues for growth, including geographical expansion.
Read more: https://www.techinasia.com/angkas-shifts-gears-grab-vies-ph-motorcycle-taxi-crown
News spotlight
Yay, funding!

Image credit: Timmy Loen
The Indonesian government plans to allocate US$20 billion from the country’s state budget each year to Danantara, its new sovereign wealth fund.
- Collaborations: Danantara will collaborate with other investors such as US hedge fund Bridgewater. The Indonesian fund will follow a 50:50 ownership structure for certain projects.
- Big potential: Such partnerships could allow the firm to manage investments worth up to US$160 billion annually.
- Expansion: Initially, Danantara involved consolidating seven state-owned enterprises (SOEs) and the Indonesia Investment Authority. It has since expanded to include all SOEs and their subsidiaries.
See also: These funds have not invested in Indonesia in the past year
AMA with Jianhao Tan
We’ll be having a live Ask Me Anything with Jianhao Tan, YouTuber and founder of Titan Digital Media, on March 12!
Titan’s parent firm, GCL Group, just got listed on the Nasdaq. Jianhao grew Titan from a simple hobby to the media and influencer marketing company it is today.
Mark your calendars and come ready to ask him anything!
Here’s how you can take part:
Step 1: Go to Tech in Asia’s LinkedIn page.
Step 2: You’ll see a photo of Jianhao with the text “Ask Me Anything” pinned to the top of the page wall.
Step 3: Ask away!
Quick bytes
1️⃣ These loans are OK
US mobility platform inDrive has launched inDrive.Money, its first fintech offering in Asia Pacific. Through the inDrive app, drivers can access Shariah-compliant loans of up to US$607 to help cover urgent expenses.
2️⃣ No dirty laundry
Quick Clean, an India-based laundry startup, has secured US$6 million in its first funding round. Founded in 2010, the company offers laundry solutions for hospitals and hotels, including equipment rentals and installation services.
3️⃣ In the black
Maya, a digital banking and payments platform in the Philippines, recorded group-wide profitability for 2024. Its growth was driven by its expansion into consumer credit and a broader strategy to scale its digital banking, payments, and lending services.
4️⃣ Incubate and grow
India-based edtech firm upGrad has launched the upGrad AI Incubator to support emerging AI startups. The incubator will provide infrastructure support and seed funding to participants.
5️⃣ Call me an Uber
Uber has launched its ride-sharing service in Assam, India. The company aims to use this pilot project to incentivize other Indian states to allow private vehicles for shared rides, a model that has faced resistance in the country.
6️⃣ Richie Rich
Xiaomi founder and CEO Lei Jun has become China’s richest person following the company’s market value going over US$180 billion. Current estimates place his wealth at US$60.6 billion, surpassing ByteDance founder Zhang Yiming.
Recommended reads
- Shopee drops J&T Express’ standard, economy deliveries in Indonesia (update)
- First Hong Kong, now Southeast Asia
- Chocolate Finance suspends instant withdrawals amid ‘high demand’
- Singapore issues Grab taxi operator license
- India’s 15-minute meal hunger games
- Lamudi’s parent appoints liquidator: Australian gov’t body
- Upmesh’s profits dive even as live commerce thrives
- Oddle trims staff in AI push, targets profits in 2025
- EWA startups at a crossroads as scaling gets brutal
- These funds have not invested in India in the past year
Edited by Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)