Learning for life

• Edtech company Unacademy announced the acquisition of 500-backed professional networking and recruitment startup TapChief to launch Unacademy Pro. This platform provides higher education, career guidance, and placement services.
• Unacademy will acquire a majority stake in TapChief, which is joining the Unacademy Group with a post-acquisition valuation of ~US$13.8 million.

• According to TapChief, it has over 150,000 registered professionals on its platform, with more than 50,000 gigs completed for customers ranging from Fortune 500 companies to startups and small businesses in India.
• “TapChief’s mission has been to empower the modern Indian professional with access to a wide array of opportunities that enhances their career and growth. We are excited to learn from the Unacademy team and carry forward our mission at a greater scale and fervour as part of the Unacademy Group,” said TapChief chief executive Shashank Murali.

Internet for all

• 500-backed deep tech startup Transcelestial has raised a US$2 million investment, enabling it to enter the Philippine market to increase access to high-speed, reliable Internet.
• The startup’s product CENTAURI uses a proprietary wireless laser communication technology to create a wireless distribution network between buildings, traditional cell towers, street-level poles, and other physical infrastructure.

• According to CEO Rohit Jha, it typically costs US$50,000 to US$200,000 for every one kilometer of fiber optic cables installed in the ground. In contrast, Transcelestial’s shoebox-sized device sets up links at a tenth of the cost within 10 minutes.
• “During COVID-19, it is absolutely critical that the people of the Philippines continue to work remotely from their homes, continuing to make a livelihood. Transcelestial is here to help telecoms, ISPs, Enterprises, and the Government help bridge this shortfall,” he added.

Plugging in to go paperless

• 500-backed startup Enplug is providing its adtech services to Go Energy Financial Credit Union, a financial institution in the US, to improve brand marketing and streamline communications for the company.

• Using Enplug in multiple branches to communicate with its members and employees, Go Energy has eliminated costs associated with in-branch print marketing. The company currently has seven screens in use at two branches, with plans to install two more devices at another branch.
• Since implementing Enplug, Go Energy has rolled out multiple new programs tailored to help its members. Programs they have run cover content such as financial management and financial wellness.

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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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