Singapore’s virtual energy boost

A battery-enabled virtual power plant operator powering Singapore's future and a Taiwan VC's pivot to deal-to-deal investing.

Read from your browser Daily Newsletter Welcome to Tech in Asia's daily newsletter, your essential dose of Asia's tech and startup buzz. Not yet a subscriber? Register here. Got a story tip? Send it to editors@techinasia.com. IN FOCUS ​​A battery-operated virtual power plant emerges in Singapore A Taiwan VC's pivot to deal-to-deal investing ​​ TikTok's continued dominance in Southeast Asia Hello Betamax, I live in the Philippine capital, Manila. So imagine my surprise when my building announced that it would have a scheduled power interruption for 10 hours. When the day came, the blackout lasted for 13 hours - a true horror story for Halloween. The Philippines has one of the most unstable power grids in Southeast Asia, despite having the second-most expensive electricity rate in the region. So I was pleasantly surprised (and envious) when I learned of Blue Whale, the subject of today's first Top Story, which runs a battery-operated virtual power plant (VPP) in Singapore. While the city-state has one of the most stable power grids in the world, it continues to find ways to maintain it amid surging demand for electricity. The country is also in the process of transitioning to cleaner forms of energy. A battery-operated VPP could help in that regard, as the stored energy of the batteries - which are charged from solar panels - could be deployed during peak hours of electricity demand. VPPs, I learned, were nothing new in Europe and Australia, but it remains uncharted territory in Southeast Asia. Speaking of something new, we also looked at a Taiwanese VC, backed by the scion of server developer Quanta Computers, and its pivot into a deal-to-deal investing practice. Its managing partner believes this would enable the firm to participate in the funding rounds of the hottest startups in the US. Delving into something new could be scary. But for this Halloween, we're hoping this newsletter won't spook but instead spark something innovative out of you. Elyssa Lopez, journalist TOP STORIES 1️⃣ Can SG run on virtual power plants? This startup thinks so Blue Whale Energy has an interesting proposition for commercial and industrial facility operators in Singapore. It would install batteries on their solar rooftops for free, but it will take a revenue share for whatever they earn from the setup. While Blue Whale was only founded last year, it has been named as one of the pilot participants of Singapore's regulatory sandbox for virtual power plants, together with Nanyang Technological University and SP Group. 2️⃣ Quanta scion's new VC play: no new funds, just deals Mesh Ventures, a Taiwan-based VC firm that has long funded electronics-focused startups in the US, is ditching thematic funds. Instead, it's backing startups on a "deal-to-deal" basis, and it's promising LPs that the startups in its portfolio will see an exit in three years. SPOTLIGHT TikTok goes all in on SEA How worried is TikTok about exiting the US? The answer may lie in a simple comparison: 460 million versus 170 million. The social media app recently announced that it had 460 million monthly active users in Southeast Asia, compared to the smaller figure in the US. While spending power is higher in the latter market, it's a signal that TikTok's growth engine lies elsewhere amid the ongoing US-China tensions. TikTok made the announcement at the company's first Apps Summit for Southeast Asia in Hanoi, Vietnam. My girlfriend joked that I'd be surrounded by Gen Z dancers at the event, but the room was actually packed with regional ecommerce, fintech, gaming, and travel app leaders. Another sign that TikTok is courting Southeast Asia's digital economy as its next growth frontier. Nikhil Rolla, the firm's head of strategic accounts for Southeast Asia, said TikTok's success in cutting through "attention clutter" was down to its reputation as a platform filled with authentic content, warts and all. For the app brands it works with, its value lies in how it harnesses user data to deliver smarter, more effective targeting, based on what I heard on stage. If you want to see TikTok's future, don't look west - look southeast. Peter Cowan, engagement editor TRENDING NEWS 1️⃣ Carro posts record FY2025 revenue of $898m The automotive marketplace recorded a 15% rise in revenue and a 20% growth in gross profit year on year. At the Tech in Asia Conference last week, CEO Aaron Tan said that Carro is acquiring an Australian firm to expand to the country. 2️⃣ Anthropic opens first Asia office in Tokyo For its first office in Asia, Anthropic chose to partner with the Japanese government. It signed a memorandum of cooperation with the Japan AI Safety Institute, which would allow it to help pen the local policy on AI evaluation methodologies. 3️⃣ Alphabet Q3 revenue tops $100b on AI boom Across its business lines, Google cited AI as the main factor that drove its historic Q3 performance, as it clinched US$100 billion in quarterly revenue for the first time. Gemini now has over 650 million active users monthly, while Google Cloud recorded an annual run rate of US$1 billion. 4️⃣ OpenAI rolls out Sora app in Thailand, Vietnam, Taiwan Free users in these markets can generate videos lasting up to 15 seconds, with that limit increasing to 25 seconds for Pro users. The app also lets users create videos in their local language. 5️⃣ India's Goldi Solar raises $171m led by Havells Goldi Solar says it is the largest solar photovoltaic (PV) model manufacturing firm in India with 14.7 gigawatts in capacity. The country recently mandated government offices to only use locally made solar PVs for their infrastructure projects starting 2026. WHO'S HIRING You can post a job here or search for jobs here. Branch Manager at Cakap | Tangerang, Indonesia Account Strategist [Surabaya] at Playmakers | Surabaya, Indonesia Account Manager at Boleh Dicoba Digital | Jakarta, Indonesia ADVERTISE | SUBSCRIBE | HIRE | FIND JOBS 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? Switch to a different frequency or get new content through our preference center, or unsubscribe. You can also remove yourself from all Tech in Asia emails over here. Copyright © 2025 Tech in Asia, All rights reserved. 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