Daily Markup #444: Jeff Bezos invests in Lummo to accelerate its expansion in Southeast Asia; Laka partners Decathlon to prevent bike thefts with hidden GPS chip; WORQ’s productive spaces bring innovators together

Credit: ETtech

Securing a significant investment

  • 500-backed startup Lummo (formerly known as BukuKas) recently closed a US$80 million Series C funding round, and one of the participating investors is Jeff Bezos’s personal investment firm, Bezos Expeditions.
  • The fresh capital will go towards hiring more technology, product management, and design talents to support their team in Indonesia and India.
  • “The investment will strengthen Lummo’s efforts to further build on our direct-to-consumer product offerings and deliver greater value to entrepreneurs and businesses in Indonesia,” said Krishnan Menon, co-founder and CEO of Lummo.
  •  The startup plans to strengthen its product offerings through technological innovations such as chat commerce, custom domains and website, as well as personalized features for branding.
  • Read the full story in DealStreetAsia.

Credit: NieuwsFiets

Ringing in a new era of safety

  • Over 22,000 people reported their electric bikes were stolen in the Netherlands last year. 500-backed insurtech startup Laka is on the case, striking a partnership with global sports retailer Decathlon.
  • Together, they aim to beat bike thieves by launching an anti-theft system on Decathlon’s new connected electric bikes. The hidden GPS chip allows owners to connect their bikes to their smartphones and get the precise location of their bikes.
  • Bike owners will receive a notification when someone touches their bike or when the bike is moving without their knowledge.
  • Laka’s insurance covers the tracking and recovery of a stolen bike by a specialist recovery company. If the bike can’t be found, Laka will provide a full bike replacement to customers.
  • Read the full article here.

Credit: Tech Collective

Bringing innovators together

  • A productivity community – that’s what 500-backed WORQ calls itself. 
  • “[Our] vision is to create a world where people and community prosper by working together,” says founder and CEO Stephanie Ping. “We are creating the largest and most productive coworking community by taking care of all your workplace needs and facilitating a deeper connection,” she added. “We believe that by improving the productivity of entrepreneurs, freelancers and businesses we can have a significant impact on the economy.”
  • To maintain this sense of community in the age of a pandemic, WORQ launched the SPARQ app, which acts as a digital community manager that works 24/7 to connect people with collaboration opportunities.
  • The app gives people access to a support system. “We believe in the power of leveraging networks, embracing diversity, and most importantly, the impact of genuine and lasting human connection,” Stephanie concluded.
  • Read the full interview in TechNode Global.


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