Leaders in times of crisis

• The founders of 500-backed super app Grab, Anthony Tan, and Hooi Ling Tan have been ranked 13 in Fortune’s World’s 50 Greatest Leaders. Also on the list is Prime Minister of New Zealand Jacinda Ardern, activist Malala Yousafzai, and pro tennis player Naomi Osaka.
• According to Fortune, the two key traits that characterize successful leaders are “confronting new realities quickly and fully” and “taking action, doing things no one else is doing or has done, with no assurance they will succeed”.
• During the pandemic, Grab transitioned more than 237,000 ride-hailing drivers to delivery drivers in 2020. It expanded its grocery delivery service GrabMart to eight markets in three months.
• The startup also built and launched GrabCare, a temporary on-demand service to transport medical professionals in less than 72 hours.

Driven by data

• 500-backed automotive e-commerce platform Carsome has set up a data center of excellence (COE). The startup aims to harness data to drive decision-making in the used car industry.
• Internally, the use of Artificial Intelligence (AI) and Machine Learning (ML) automates operational tasks such as car number plate masking and car scoring. These reduce the time car inspection time, providing a faster car-selling process for consumers.
• For dealers, ML-powered auction optimization provides personalized recommendations when bidding for cars. Dealers on Carsome’s platform will find the most relevant cars curated and ready to bid on for them before they even start browsing.
• Consumers will benefit from data-backed proposed pricing when selling their cars, which is based on market movements. This increases the chances of their cars being sold via bidding.
• Read the full announcement from Carsome here.

Scooting safely

• 500-backed startup Neuron Mobility has become the first rental e-scooter company in Australia and New Zealand to provide riders with third-party insurance.
• This extended cover complements the startup’s existing ~US$15.5 million public liability insurance and personal accident insurance.
• The startup was also awarded a new permit to operate 1,000 e-scooters in Brisbane, Australia, increasing its fleet size by 10%. The permit includes 400 e-bikes which will be available from late July.
• Since launching in the city in August 2019, Neuron’s e-scooters have covered over four million kilometers, eliminating an estimated 295 tonnes of CO2 emissions.
• Read about the rollout from Neuron Mobility here.

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500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. In Southeast Asia, 500 Startups invests through the pioneering 500 Southeast Asia family of funds. The 500 Southeast Asia funds have backed over 240 companies across multiple sectors from internet to consumer to deep technology. It continues to connect founders with capital, expertise and powerful regional and global networks to help them succeed.

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