2 min read

Daily Markup #396: Carsome & Grab campaign to benefit over 100,000 drivers; Escavox prepares for a ~US$3.5M funding round; AUS expects Indian drone market to hit up to US$4B

Ching Yee Ho



Credit: Carsome

Boosting ownership

  • Two 500-backed startups – used car marketplace Carsome and super app Grab – have teamed up to launch a nationwide campaign in Malaysia, ‘Own Your Ride’.
  • The campaign aims to benefit over 100,000 Grab driver-partners and delivery-partners across the country.
  • Grab driver-partners and delivery-partners can enjoy purchase discounts of up to ~US$140, trade-in discounts of ~US$240, and one-year after-sales service when purchasing Carsome Certified cars.
  • “This partnership with Carsome will provide our partners with a more attractive option when they source for a new vehicle and one that will help them upkeep the vehicle affordably,” said Grab Malaysia’s country operations director Rashid Shukor.
  • Read the full article in New Straits Times.

Credit: Food & Drink Business

Raising the future of food

  • 500-backed startup Escavox is one of “Australia’s most promising agrifood tech innovators” selected to join the evokeAG. Startup Program.
  • The program seeks to help the startups build the capacity to attract investment and customers at the upcoming evokeAG. 2022 Sydney event.
  • According to the article, Escavox is heading into a future funding round worth ~US$3.5 million.
  • CEO Luke Wood said, “Escavox’s ideal investor is tech-savvy and familiar with food production and global supply chains. They believe in our values to give food producers data that will help them improve their supply chains and their quality offering to consumers.”
  • More details here.

Credit: Business Line

Raising the game

  • According to Fortune India, enterprises in the country are rapidly adopting drone technology to improve productivity and increase capabilities. This presents a golden opportunity for the local drone industry.
  • Vipul Singh, founder and CEO of Aarav Unmanned Systems (AUS), says that the Indian drone market is estimated to reach US$3-US$4 billion over the next five years.
  • “COVID-19 amplified the growth of the sector as businesses ascribed more value to technologies that facilitated remote working and reduced movement of manpower. There is a huge demand from the private sector as well as different government departments,” he added.
  • Vipul expects the agriculture, logistics, and urban mobility sectors to adopt drone technology rapidly in the coming years.
  • Read the full article here.

Ching Yee Ho