We take a break from startup updates to bring you some news of our own:

500 Durians is now 500 Southeast Asia.

Learn more about the next step in our journey: http://sea.500.co/new

We’ve also attached a copy of our press release below.

Thank you for all the support along the…

Credit: Tatler Malaysia

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…

Credit: Reuters

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. …

Credit: Photo by Brett Jordan on Unsplash

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…

Credit: FinAccel

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…

Credit: Boxgreen

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…

Credit: The Liveability Challenge

A winning solution

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. …

Credit: AIM Group

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…

500 Southeast Asia

The 500 Southeast Asia family of funds invest in SEA and have backed over 200 companies across multiple sectors from internet to consumer to deep technology.

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