Empowering small businesses
- 500-backed e-commerce platform Bukalapak released its quarterly financial report. It shows that that startup’s offline-to-online business, Mitra Bukalapak, contributed significantly to revenues in the first half (1H) of 2021 at US$20.3 million. Mitra Bukalapak helps mom-and-pop kiosks to digitize their businesses.
- Overall, the startup declared US$60.5 million in revenue in 1H 2021, jumping 35% from the first half (1H) of 2021.
- According to the report, 75% of the startup’s Total Processing Value (TPV) in 1H 2021 came from business outside Indonesia’s metropolitan areas. Its TPV in 1H 2021 surged by 227% to US$1.6 billion compared to the same period last year.
- The number of Mitra Bukalapak agents currently stands at 8.7 million, up from 6.9 million at the end of December 2020.
- In August, Bukalapak debuted on Indonesia’s stock market after raising a US$1.5 billion IPO, the largest the country has ever seen.
- Read the full article on KrAsia here.
Taking up space
- 500-backed Australian rocket startup Gilmour Space Technologies has partnered with Exolaunch, a German company that provides access to space for small satellites.
- The international partnership will see the two firms co-operating on small satellite launch missions for global customers. Together, they will provide “tailored launch, precise deployment, and in-space transportation services” on Gilmour’s Eris hybrid launch vehicles.
- In a podcast, CEO and founder Adam Gilmour talks about the startup’s mission to make rockets smaller, cheaper, and faster. Its goal is to make space more accessible and propel Australia to the forefront of aerospace.
- Gilmour plans to begin launches in 2022 and build up to a dozen rockets a year by 2025.
- Get more details from the full article here.
A nurturing environment
- Recognized as the fastest-growing economy in the world, Southeast Asia has been making waves and turning heads.
- With 500 Southeast Asia’s recent rebrand, it has also begun to incorporate environmental, social, and governance (ESG) considerations into its investment practices, guiding founders with their ESG journey.
- The firm believes it is important to integrate ESG with early-stage startups, making innovations more inclusive.
- The mission? To back and build startups that serve communities and the environment.
- Read the full article on Asia Tech Daily here.
