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 comprehensive, versatile commercial insurance model (covering e-cargo bikes, delivery riders, electric-assisted vehicles, and cycles), for all manner of commercial companies, both in the UK and across Europe.”
• According to the article, sales of bicycles are expected to jump by up to 60% in the UK over the next year, boosted by various initiatives at local and national levels to reduce carbon emissions and congestion.
• Read the full story on BikeBiz here.

Goals for good

• 500-backed super app Grab Singapore announced its 2030 Transport Sustainability Goal, where it has committed to operating its fleets on cleaner energy by 2030.
• One of its first steps is the JustGrab Green pilot, a new transport type comprising of electric or hybrid vehicles. Carbon emissions can be reduced by an estimated 55% compared to a vehicle running on petrol.
• The startup also rolled out the Green Programme, where passengers can opt to turn on the feature and pay a nominal ~US$0.07 when they book any ride. To encourage consumers to participate in this initiative, Grab will match the contribution for up to three million rides. The full contribution will go into carbon offset and solarization projects in Singapore and the region.
• In addition, Grab will also be expanding its electric and hybrid vehicle fleet through its rental arm, GrabRentals.
• Read the full announcement on Grab here.

Ramping up growth

• According to the Malaysian Reserve, 500-backed used car trading startup Carsome is working on several major mergers and acquisitions (M&A) to strengthen its position in the regional car e-commerce marketplace.
• Last month, the startup made a strategic investment in a Jakarta-based offline car and motorcycle auction company.
• CEO Eric Cheng revealed that Carsome is closing several major M&A transactions, which he will announce in due course.
• “As of June 2021, we are transacting an annualized 100,000 cars per month with a transaction volume of over US$800 million, more than double ahead of our closest competitor,” he added.
• Read the full article here.