A Malaysian powerhouse
- 500-backed sustainable energy startup SOLS Energy was featured in The Edge Markets’ article about green technology.
- The startup installs solar panels for residential and commercial areas in Malaysia and runs an academy to equip underprivileged youths with technical skills in the solar industry.
- According to the article, there has been an acceleration in the adoption of renewable energy technologies in Malaysia. “Solar power is not new,” said Raj Ridvan Singh, founder and CEO of SOLS Energy. “What has happened is that installing solar power systems is now extremely affordable and readily available, so much so that even homeowners can generate electricity from their roofs.”
- He shared that the startup also works with multinational corporations and companies to encourage their employees to adopt renewable energy.
- Read the full article on The Edge Markets here.
Greasing gears
- 500-backed startup Arcstone helps companies digitally monitor, manage, and maintain manufacturing equipment and processes. With its tools, manufacturers gain better visibility and optimization of their supply chain operations.
- A global lighting solutions company faced difficulties in managing the maintenance of its significant number of machines in each site. Prior to engaging Arcstone, it relied heavily on a paper-based maintenance process.
- Arcstone’s intervention led to a 14% reduction in indirect workload, 30% saved workforce time, decreased report creation time by 4 hours daily, and decreased maintenance time by 25%.
- Read the full case study here.
Keeping it lean
- A Google Cloud case study was dedicated to studying the success of 500-backed online marketplace Carousell’s use of cloud computing services.
- Since streamlining its technology infrastructure needs, Carousell has been able to maintain its systems engineering team at five people despite over 200% growth in business.
- This has allowed its engineering team members to spend 70% of their time on innovation and large projects rather than infrastructure tasks.
- Read the full case study on Google 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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