Not just fun and games

• 500-backed global esports tournament network and platform Esports Players League (ESPL) has had a productive 2020.
• Since its inception in 2019, it has partnered with 10 esports organizations in 10 countries to run tournaments, including Axis Esports in Malaysia and the Singapore Cybersports and Online Gaming Association.
• In 2020, more than 19,000 matches were played in 127 tournaments across 12 countries in 4 different regions on over 10 game titles.

• Michael Broda, co-founder, and CEO of ESPL, thanked their players, brands, and partners who worked with the startup. “[2021 is] going to be an even bigger year for ESPL. We can’t wait to get started,” he added.
• Watch the highlights video here.

Gearing up for the new year

• 500-backed bicycle insurtech startup Laka’s gears have been busy turning in 2020 too.

• Starting the year with a bang, the startup secured close to US$5 million in seed funding, followed by investment from 1,519 new investors as part of its ~US$2.85 million crowdfunding campaign.
• Laka secured a license to expand to The Netherlands, becoming among the first UK insurtech company to be granted one in October. They released a beta on Christmas Eve and cyclists can expect the public launch this month.
• What else has the startup been up to? It launched Health & Recovery insurance, which covers cyclists when they are both on and off the bike — for example if they are pushing their bikes on a slope.
• Through Laka, cyclists also get access to physiotherapy, mental well-being experts, cycling coaches, and more.
• In 2020, the startup was voted Best Bicycle Insurer at the Insurance Choice Awards for the third time in a row. It was also recently named one of the top insurtech startups to watch in 2021.
• Laka plans to continue expanding in Europe and build more products.
• Read the full article here.

abillionveg and counting

• 500-backed food review app abillionveg released a video reviewing its year in 2020.

• Milestones include:

1. Recording its 10,000th donation in March 2020 and donating over US$400,000 to various animal sanctuaries around the world. The startup donates US$1 for every review logged onto its platform.
2. Welcoming its 100,000th member in March 2020 and 250,000th member in September 2020.
3. Securing its 50th partner in March 2020.
4. Logging its 250,000th review in June 2020.

• In 2020, the startup launched the first-ever plant-based industry awards, featuring categories such as top plant-based burger and top vegan dishes in Singapore.
• abillionveg has released data and insights harnessed from its app as a guide for entrepreneurs in the industry.
• Watch the full video here.

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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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