Daily Markup #960: First Move invests in 10 early-stage startups in SE Asia focusing on affordability, financial inclusion, and circular economy

Photo credit: First Move

Moving the world

  • 500-backed First Move supports seasoned executives and entrepreneurs building consumer tech startups by providing early-stage capital. 
  • The team invested in their first 10 startups in its inaugural year across Malaysia, Singapore, Indonesia, and Vietnam.
  • First Move is committed to impact investing, seeking out startups focusing on affordability, financial inclusion, and circular economy. What’s more, 35% of the founders supported are women, showing their commitment to diversity and inclusion.
  • Some startups backed by First Move:
    • Koppiku, which aims to transform the coffee industry by enabling price accessibility to premium daily necessities, broadening access to quality goods and creating more local jobs
    • MalaysianPAYGAP, which champions equal pay and career opportunities, contributing to broader social equity
    • 3Cat, which enables device trace-in, repair, and reuse, significantly reducing waste and extending the lifespan of technology
    • Collektr, which connects collectors of unique items, showcasing a commitment to improving circular commerce and fostering community engagement
  • The team also takes a holistic approach by combining their investments with strategic co-investments alongside leading venture capital firms, including 500 Global.
  • This provides startups not only with financial support but also grants them access to  global networks, expertise, and mentorship.
  • “Our investments in Malaysian startups have not only fueled their growth but have also attracted attention and interest from international investors,” shared Partner Audra Pakalnyte.
  • “We are proud to be playing a role in propelling the Malaysian startup boom and look forward to continuing our mission of empowering visionary founders with the resources they need to succeed,” she added.
  • Read the full story on TechNode Global.


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