Charging up the EV industry
- In a Budget speech last year, it was announced that Singapore will phase out petrol cars by 2040.
- In achieving this goal, the government has worked with industry players such as Electric Vehicle (EV) startups, charging point providers, and parking lot owners.
- One such startup is 500-backed electric motorcycle startup Ion Mobility. Co-founder and CEO James Chan said as part of the government’s efforts, it has received additional grants and support in developing its in-house research and development capabilities and building its supply chain and manufacturing capabilities.
- “I believe with the right measures, such as expanding the charging infrastructure and providing additional incentives, we will gradually see a shift towards adoption of EVs in Singapore,” said James.
Delivering a partner-ship
- Adobe has collaborated with 500-backed shipping startup Easyship to improve shipping solutions for its merchants.
- Easyship is one of the two selected automated shipping and fulfillment solutions on Magento, Adobe’s eCommerce platform.
- Through this partnership, Magento merchants will have ownership of the entire shipping process and be able to increase conversions by gaining access to affordable multi-carrier solutions from around the world.
- Easyship’s services also enable merchants to gain insights into their business trends and operate with 24/7 support.
A big win
- Investment network startup ANGIN closed 2020 with US$2.5 million across 10 investments after screening fundraising proposals from more than 1,500 enterprises.
- Its consulting arm, ANGIN Advisory, has also delivered more than 18 projects, supporting entrepreneurs in many regions in Indonesia and engaging with clients worldwide.
- Get all the numbers here.
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500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. In Southeast Asia, 500 Startups invests through the pioneering 500 Southeast Asia family of funds. The 500 Southeast Asia funds have backed over 240 companies across multiple sectors from internet to consumer to deep technology. It continues to connect founders with capital, expertise and powerful regional and global networks to help them succeed.
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