Health is wealth In the last six years, 500-backed wellness startup PurelyB has gone through several iterations, including taking a crack as an e-commerce platform. Last year, it went through its most dramatic change yet — restructuring in the midst of a pandemic. The startup revamped its e-commerce operations while…

A stellar debut 500-backed e-commerce startup Bukalapak’s shares surged 25% on its market debut after raising US$1.5 billion in Indonesia’s biggest IPO (Initial Public Offering). Its shares closed at US$0.0738 after reaching the 25% limit minutes after opening. According to Reuters, Bukalapak’s debut has vaulted its market value to US$7.5…

This week’s top news: FinAccel, parent company of ‘buy now, pay later’ platform Kredivo, plans to go public via a SPAC deal that is valued at US$2.5 billion. In healthcare, Prenetics partners with Hong Kong’s largest non-medical healthcare group with ambitious plans ahead. …

Going the extra mile 500-backed bicycle insurance startup Laka announced it is now providing custom commercial rider cover for last-mile delivery companies. Its commercial clients include recruitment firm Randstad, transportation company EAV, and delivery service Urb-It. Laka’s statement said, “Laka is now uniquely positioned in being able to provide a…

A growth spurt 500-backed FinAccel announced it will be going public in the United States through a merger with VPC Impact Acquisition Holdings II. The latter is a special purpose acquisition company (SPAC) sponsored by Chicago-based Victory Park Capital Advisors (VPC). The combined companies are valued at US$2.5 billion. FinAccel…

A wholesome product 500-backed snack subscription platform Boxgreen started from the idea of offering accessible and low-cost snacks. A few years later, the startup has shown a commitment not only to produce its own healthy snacks and make a social impact where they operate. From curating and packing snacks from…

A winning solution 500-backed separation tech startup Seppure has finished as a finalist in The Liveability Challenge 2021. Seppure was awarded a ~US$74,000 investment from Planet Rise and ~US$37,000 from Amasia. The startup emerged as one of six finalists out of 400 companies. The Liveability Challenge is a platform calling…

This month, we cover big stories in Indonesia. A media conglomerate invests US$375 million in Grab Indonesia, HappyFresh bags US$65 million in a Series D funding, Carsome buys a stake in a Jakarta-based offline car and motorcycle auction company, and Bukalapak kicks off Indonesia’s biggest IPO in a decade. …

A regional milestone 500-backed used car trading startup Carsome has acquired a stake in PT Universal Collection (PT UC), a Jakarta-based offline car and motorcycle auction company. This marks its first investment in Southeast Asia. According to Carsome, the investment will allow it to double its automotive transaction volumes in…