A new contender in content

• A new 500-backed startup, EST Studios, has been launched by co-founders and co-CEOs Jaeson Ma and Eric Tu. Specializing in premium film and episodic content, EST Studios is an independent finance, production, and sales outfit geared towards the Asian marketplace.
• The startup plans to partner with filmmakers from the East and introduce new premium Asian film and television IP to global audiences. Its goal? Financing, producing, and representing 15 projects a year at global film markets.
• Headquartered in Los Angeles with a presence in New York, Taipei, and Vietnam, they plan to expand offices to China, South Korea, India, Japan, Indonesia, and Singapore.
• “Building upon the global success stories of Asian IP like South Korean thriller ‘Squid Game’, there is an incredible opportunity for EST Studios to be the first definitive global media company that can unify the voices of Asian filmmakers around the world. EST was born to build this bridge from Asia to the World,” Eric said.
• Read the full story in Variety.

Doing good while doing business

• 500-backed Bukalapak released its ESG 2021 report, revealing ways it is contributing to three Sustainable Development Goals: eliminating poverty by increasing incomes; reducing inequality by improving market access; and increasing gender equality through equal access to opportunity.
• Through Mitra Bukalapak, it has helped more than 10 million MSMEs all over Indonesia to go digital. According to the report, business owners have successfully increased their revenue up to 3x and received 6x more transactions on average since joining Mitra Bukalapak.
• 75% of Bukalapak’s volume and transactions came from outside-Tier 1 cities. This means transactions are from warung and small stalls, enabling these mom-and-pop businesses to become a digital service hub for the surrounding communities.
• Mitra Bukalapak is also working towards bridging the gender gap in the workforce by providing financial support and business management training. It has empowered more than 2 million female MSME owners to run their own businesses.
• Read the full report here.

Bringing better connectivity to Singapore

• 500-backed superfast Internet startup Transcelestial has partnered with a regional systems integrator, Synetcom International, to distribute its wireless laser communications technology in Singapore.
• Together, the companies aim to introduce the innovative solution to institutions across various public sectors including education, government and defence, as well as the private sector.
• According to the statement, there are currently only two options to improve the quality of Internet connectivity: physical fiber cables, which are costly and slow to implement, and radio frequency-based solutions, which are subject to interference from other channels and lack security assurances.
• With Transcelestial’s laser technology, organizations get fiber-grade Internet at a  fraction of the time and cost of physical cables.
• Get the full statement here.