Better together
- 500-backed digital manufacturing startup Arcstone has partnered with the Agency for Science, Technology and Research (A*Star) to open a joint laboratory.
- A total of ~US$13.4 million will be invested over the next three years into the lab. The facility aims to develop smart manufacturing solutions that will pave the way for higher-quality, more user-friendly goods that get to consumers more quickly.
- The two companies will also look into ways of making the environmental footprint of a product more transparent. CEO Willson Deng said that providing customers with data will allow consumers to make a more informed choice amid the growing global sustainability movement.
- The collaboration is expected to halve the time needed for research and development and create about 30 engineering jobs over the next three years.
- Read the full article on The New Straits Times here.
Making a splash
- 500-backed aquatech startup, Jala Tech, is the only Southeast Asian startup to have been selected for the 2021 Unreasonable Impact Asia Pacific program.
- The program aims to scale high-growth ventures that address global challenges. Each venture was selected based on its potential to address key social and environmental issues.
- The program helps startups by connecting entrepreneurs to its international network of experienced specialists and mentors.
- Jala Tech was founded to help farmers make data-driven decisions with a system that provides water quality monitoring, planning, and reporting tools.
- While the startup’s core market is currently shrimp farmers, their device is applicable for all types of water monitoring systems and treatment plants, including smart city water management.
- Read the full article on e27 here.
Good deeds
- 500-backed e-commerce startup Bukalapak released an impact report for Baik Bareng Bukalapak, a series of programs that were run during Ramadan.
- The aim of the initiatives were to facilitate good deeds safely with the help of technology, in the midst of a pandemic.
- The impact achieved includes:
- Donations channeled to eight institutions
- Rice provided for 23,704 people
- 1,500 free meals served across 9 mosques
- The launch of an app to enable people to make donations to mosques digitally
- Read the full report on Bukalapak 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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