EDITOR'S PICKS1️⃣ The world model ambition growing inside a SG AI video startup World models, AI models that understand the dynamics of the real world, might be the next big thing in the industry, and Singapore-based Video Rebirth is betting it can build one through video generation. The startup's near-term revenue will come from its enterprise video product, Bach, while its world model ambitions will remain a longer-horizon bet. Competitors in the space have raised billions, so it's fair to wonder if the US$80 million the company has raised is enough runway to prove the thesis before someone better-funded gets there first. 2️⃣ Droom seeks $50m as investors question valuation Indian online car marketplace Droom is targeting profitability this year and an IPO in 2027. This comes as it's looking to raise between US$20 million and US$50 million in a fresh fundraising round. However, an investor Tech in Asia spoke to questioned the firm's valuation of US$430 million, given that the company's contribution margin is only US$720,000 after covering its direct costs. Droom has real scale, but concerns over the lofty valuation and the legal and business record of founder Sandeep Aggarwal may prove harder to move than the cars on its platform. 3️⃣ The clean energy trap Thailand can't seem to escape Thailand imports 57% of its crude oil from the Middle East. When the Strait of Hormuz effectively closed after the US and Israel bombed Iran, there was no domestic cushion, and fuel prices spiked accordingly. This piece from Kotchakorn Khwamchareon of New Energy Nexus Thailand argues that the clean energy capacity that could have cushioned the blow was never built. It also unpacks the structural traps that continue to hold Thai climate startups back. The US-Iran war looks like it may come to a close soon, but the next conflict, and the next supply shock, is always around the corner. |