Daily Markup

Daily Markup #653: Carsome Mobility Lab announces 5 finalist startups on the road to elevating the automotive ecosystem

December 14, 2022 · 2 min read

Here we are, closing off with the last issue of Daily Markup for 2022! 

Thank you for welcoming us every weekday this year. We hope your year has been an inspired one ~ through learning about the amazing innovations and achievements by 500-backed companies.

Our team will be winding down from December 15th, 2022 to January 2nd, 2023 to reflect, relax and reset. We look forward to bringing you fresh stories from the 500 community in the new year.

Wishing you a joyful December filled with warm celebrations with your loved ones!

Credit: Carsome

Speeding up innovation

  • How time flies! Back in April, 500-backed integrated car e-commerce platform Carsome launched an accelerator program, Carsome Mobility Lab, in collaboration with Sunway Innovation Labs (iLabs) to support up and rising startups in their innovation, funding, and scaling journey.
  • The program began taking applications in June, and this month, Carsome announced 5 finalists from an initial list of 40! The 5 startups are Asia Mobiliti Tech (smart mobility solutions), Carmen Automotive (SG) (vehicle data analytics solutions), Moovby (peer to peer car-sharing marketplace), MyBump Media (leading crowd advertising platform) and SparexHub Genuine (car spare parts marketplace).
  • At the end of the pilot phase of each project, they stand to receive an investment of up to US$25,000. In addition, successful pilots will potentially be commercialized, to further extend their impact and complement Carsome and Sunway in the wider automotive ecosystem.
  • “We are honored to play an integral part of the accelerator program and provide guidance to up-and-rising startups,” said Co-founder & Group CEO Eric Cheng. “Through this program, we hope to find a partner capable of delivering cutting-edge innovation to strengthen our ecosystem and offering as we continue to deliver an elevated car ownership experience to our customers.”
  • The team shared that they are committed to drive business growth, create new products and services, and optimize productivity through innovation and collaboration.
  • They added that these partnerships complement Carsome’s ongoing efforts to eliminate industry pain points, instill greater trust and transparency in the ecosystem, and ultimately bring about a positive customer experience.
  • Read the full article here.
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