Learning for life
- Edtech company Unacademy announced the acquisition of 500-backed professional networking and recruitment startup TapChief to launch Unacademy Pro. This platform provides higher education, career guidance, and placement services.
- Unacademy will acquire a majority stake in TapChief, which is joining the Unacademy Group with a post-acquisition valuation of ~US$13.8 million.
- According to TapChief, it has over 150,000 registered professionals on its platform, with more than 50,000 gigs completed for customers ranging from Fortune 500 companies to startups and small businesses in India.
- “TapChief’s mission has been to empower the modern Indian professional with access to a wide array of opportunities that enhances their career and growth. We are excited to learn from the Unacademy team and carry forward our mission at a greater scale and fervour as part of the Unacademy Group,” said TapChief chief executive Shashank Murali.
Internet for all
- 500-backed deep tech startup Transcelestial has raised a US$2 million investment, enabling it to enter the Philippine market to increase access to high-speed, reliable Internet.
- The startup’s product CENTAURI uses a proprietary wireless laser communication technology to create a wireless distribution network between buildings, traditional cell towers, street-level poles, and other physical infrastructure.
- According to CEO Rohit Jha, it typically costs US$50,000 to US$200,000 for every one kilometer of fiber optic cables installed in the ground. In contrast, Transcelestial’s shoebox-sized device sets up links at a tenth of the cost within 10 minutes.
- “During COVID-19, it is absolutely critical that the people of the Philippines continue to work remotely from their homes, continuing to make a livelihood. Transcelestial is here to help telecoms, ISPs, Enterprises, and the Government help bridge this shortfall,” he added.
Plugging in to go paperless
- 500-backed startup Enplug is providing its adtech services to Go Energy Financial Credit Union, a financial institution in the US, to improve brand marketing and streamline communications for the company.
- Using Enplug in multiple branches to communicate with its members and employees, Go Energy has eliminated costs associated with in-branch print marketing. The company currently has seven screens in use at two branches, with plans to install two more devices at another branch.
- Since implementing Enplug, Go Energy has rolled out multiple new programs tailored to help its members. Programs they have run cover content such as financial management and financial wellness.
Missed out the last Daily Markup? Go here to check it out.
You can also find us on LinkedIn, Facebook, Twitter, and Instagram.
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.
This post is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively “500 Startups”) makes no representation as to the accuracy or information in this post and while reasonable steps have been taken to ensure that the information herein is accurate and up-to-date, no liability can be accepted for any error or omissions. All third party links in this post have not been independently verified by 500 Startups and the inclusion of such links should not be interpreted as an endorsement or confirmation of the content within. Information about portfolio companies’ markets, competitors, performance, and fundraising has been provided by those companies’ founders and has not been independently verified. Under no circumstances should any content in this post be construed as investment, legal, tax or accounting advice by 500 Startups, or an offer to provide any investment advisory service with regard to securities by 500 Startups. No content or information in this post should be construed as an offer to sell or solicitation of interest to purchase any securities advised by 500 Startups. Prospective investors considering an investment into any 500 Startups fund should not consider or construe this content as fund marketing material. The views expressed herein are as at the date of this post and are subject to change without notice. One or more 500 Startups fund may have a financial interest in one or more of the companies discussed.
