Wings to fly

• 500-backed micro-blogging platform Koo has announced a partnership with CleverTap, an omnichannel customer engagement and user retention platform. The decision comes after Koo leadership’s successful collaboration with CleverTap on their first product, Vokal.
• The partnership was founded to help Koo achieve its goal of connecting with millions of users. CleverTap’s real-time, data-driven insights have proven to lead to high user engagement and retention, and the startup hopes to engage more app users.
• Co-founder Mayank Bidawatka said, “Our partnership with CleverTap will be instrumental in creating actionable user segments and keeping users engaged on our platform. We believe that CleverTap’s real-time insights and omnichannel solutions will not only help us establish a stronger connection with our existing users, but also attract more customers.”
• He added that the startup is confident that it will be able to achieve a double-digit increase in the overall app sessions.
• Read the full story here.

Wheeling in the benefits

• 500-backed bicycle insurtech startup Laka has launched a bike shop membership program designed for retailers. Via plug-and-play online technology, retailers can create their own customer membership program.
• The membership program is free to participating retailers who register their interest. Members are provided with their own dedicated, co-branded membership website, together with a package of co-branded marketing collateral. All aspects of membership, from handling payments to customer support, are handled by Laka..
• They can also tailor their own membership programs’ benefits to suit their own customers, for example, by providing additional perks such as an annual service, a loyalty discount on accessories, or free puncture repairs.
• Within each membership, Laka includes some ‘must-have’ protection for the cyclist, including up to ~US$280 of emergency travel expenses, third-party liability cover, legal cover, and 30 days free bike insurance cover against theft and accidental damage.
• Read the full article here.

Supercharging a society

• 500-backed super app Grab has released its environmental, social, and corporate governance (ESG) report for 2020. Here are some highlights:

1. Driver- and Merchant-partners earned a total of US$7.1 billion
2. 46% of driver-partners did not earn an income prior to joining Grab
3. 33% of GrabFood merchants went online for the first time with Grab
4. Over 1,100 deaf and physically-impaired partners have signed up onto the platform
5. US$670,000 in education scholarships provided to driver partners’ children
6. Reduced waste of 380 million sets of single-use plastic cutlery

• Read Grab’s full ESG report here.

Missed out the last Daily Markup? Go here to check it out.

You can also find us on LinkedIn, Facebook, Twitter, and Instagram.

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.

This post is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively “500 Startups”) makes no representation as to the accuracy or information in this post and while reasonable steps have been taken to ensure that the information herein is accurate and up-to-date, no liability can be accepted for any error or omissions. All third party links in this post have not been independently verified by 500 Startups and the inclusion of such links should not be interpreted as an endorsement or confirmation of the content within. Information about portfolio companies’ markets, competitors, performance, and fundraising has been provided by those companies’ founders and has not been independently verified. Under no circumstances should any content in this post be construed as investment, legal, tax or accounting advice by 500 Startups, or an offer to provide any investment advisory service with regard to securities by 500 Startups. No content or information in this post should be construed as an offer to sell or solicitation of interest to purchase any securities advised by 500 Startups. Prospective investors considering an investment into any 500 Startups fund should not consider or construe this content as fund marketing material. The views expressed herein are as at the date of this post and are subject to change without notice. One or more 500 Startups fund may have a financial interest in one or more of the companies discussed.