So much to catch up!
Congrats, team Fabelio!
- 500-backed online furniture retailer Fabelio has raised $9 million as part of its ongoing Series C round, Tech in Asia reports.
- The new funds will be channeled into new market expansions and developing supply chains and improving network and experience centres.
- Fabelio plans to close out its Series C round by end of this year.
- “Our main focus will be to improve our product categories and improve delivery times… Additionally, we are seeing more US and Chinese companies are setting up operations in Indonesia, opening up opportunities for global trade and manufacturing,” co-founder Marshall Tegar Utoyo tells The Business Times
- Founded in 2015, Fabelio supplies local and imported furniture to the Indonesian market and currently has 20 showrooms across Jakarta and Bandung. It also offers B2B interior design consultation services for offices and corporations.
It’s kick-off time
- After a 100-day hiatus, the English Premier League has returned. The first two matches took place on 17 June. The comeback can be traced to 500-backed Prenetics’ coronavirus testing kits.
- Since securing an exclusive contract to screen players and ground staff, the Hong Kong-based digital health company, has set up checkpoints at all 20 Premier League clubs to carry out testing twice a week, an AFP report says.
- So far, 8,687 deep-throat and nasal swab tests have been conducted. Results are obtained just 48 hours after testing.
- “I think our entire team will feel very proud when the Premier League comes back to action,” Prenetics CEO Danny Yeung says.
- Prenetics is looking to extend its expertise to other major sports leagues, such as Spain’s La Liga.
- “These are your rugbys, your crickets, racing, et cetera. So you name it, I think we’re speaking to a lot of these major organizations.” says Danny.
- Founded in 2014, Prenetics is behind Project Screen, an initiative providing safe, accurate, and expedited coronavirus testing kits in Hong Kong.
A successful run
- Calling for donations for people affected by the Covid-19 outbreak, Guillem Segarra, CEO of 500-backed online grocery shopping platform HappyFresh ran a 21km, half marathon from his home.
- The “Run In Unity” campaign has since ended with a total of $14,424 raised, which will be distributed to selected organizations in each of the countries HappyFresh operates in: Indonesia (Aksi Cepat Tanggap), Malaysia (Mums4Mum) and Thailand (The Mirror Foundation).
- Amidst the pandemic and lockdowns, HappyFresh recorded a net profit in Indonesia and a five to ten increase in traffic.
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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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