This week, three 500-backed startups, ESPL, BukuKas, and iPrice Group announced successful funding rounds. Meanwhile, Aerodyne and Hydroleap are entering new territory, with the former striking a strategic partnership with Japanese firms while the latter is eyeing a Vietnam expansion.
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Funding news
- Esports Players League (ESPL), an e-sports tournament organizer, closed a seven-digit pre-Series A funding round. Read more.
- BukuKas, a startup focused on digitizing Indonesia’s small businesses, raised US$50 million in Series B funding. Details here.
- Price comparison and product aggregating platform iPrice Group raised US$1.5 million in funding from Woowa Brothers. More here.
Strategic moves
- Drone tech startup Aerodyne Group has struck a partnership with a consortium of Japanese investors. This move is expected to support the startup’s core business growth in Japan as well as Southeast Asia’s agriculture sector.
- Carsome has partnered with CKL Group. This deal will enhance Carsome’s education offering for students and broaden its services to car owners and buyers.
- More on Aerodyne and Carsome here.
A horizon of possibilities
- Water purification startup Hydroleap completed the Vietnam Global Innovation (VGI) program, which provides knowledge and connections to Singaporean startups looking to expand into Vietnam. Details here.
- RedDoorz Philippines is looking at doubling its accommodation listings from 220 to at least 400 next year. Read more.
- Co-founder of fintech platform HelloGold, Ridwan Abdullah, said the startup is looking to integrate its services with e-wallet providers and hopes to announce partnerships. Find out more.
Success stories
- Cybersecurity startup Horangi will extend its services in Southeast Asia via Amazon Web Services (AWS) Marketplace. This makes the startup one of the first Asia Pacific (APAC) companies to do so in the digital catalog. Read more.
- Logistics startup Haulio has released a performance report for Q1 of this year, revealing a 261% YoY growth in user base. More here.
- Alodokter, a healthcare startup, engaged with a partner to improve engagement rates on its app. The result? A 60% increase in monthly active users in eight months, among many other positive changes. Details here.
Other stories you may have missed:
- Pomelo has opened its first physical store in Malaysia. CEO David Jou said the startup has had over 269% sales growth in Malaysia since 2019.
- Dawaai signed an MoU with Karachi Down Syndrome Program, partnering to make healthcare more inclusive.
- In April, Bukalapak launched the Kartu Prakerja Business Hub to support alumni of the Kartu Prakerja program.
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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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