A world of good

• 500-backed e-commerce startup Bukalapak released its Social Impact report for 2020, showcasing how its products and services have impacted Indonesians.
• According to the report, 4 million micro, small, and medium enterprises (MSMEs) joined the platform during the COVID-19 pandemic. At the same time, the startup launched several financial and digital services to support the growth of its business users, such as a ‘pay later’ feature and cashless payments.
• Bukalapak was also one of the Indonesian government’s partners in a program called Kartu Prakarja, aimed at equipping Indonesians with skills and competencies to become MSME entrepreneurs. The startup enables access to over 200 courses on its platform and has served more than 1 million users nationwide so far.
• For its existing merchants, the startup organized close to 150 online courses attended by over 12,000 users. In a follow-up survey, more than 50% reported improved sales.
• Read Bukalapak’s full social impact report here.

Sharing the space

• 500-backed Australian rocket startup Gilmour Space has signed a Memorandum of Understanding (MoU) with American satellite communications company SpaceLink.
• Under the agreement, both firms will ensure the compatibility of SpaceLink communications terminals with the Gilmour space platform, and to put Gilmour’s satellites into SpaceLink’s network.
• To achieve this, they have committed to sharing technical and business information to support Gilmour’s implementation of SpaceLink’s communications services and extend the communications capabilities to Gilmour’s customers.
• According to the media release, the goal of the agreement is to negotiate a definitive contract, and explore further contracts for launch services later this year.
• Read the full announcement on Gilmour Space here.

Gunning for the top spot

• 500-backed online marketplace Carousell has formed Carousell Auto Group to solidify its foray into the second-hand car trading market. The startup also announced it plans to invest aggressively to grow its classified cars business in the region.
• Carousell’s auto business is currently present in Malaysia, Vietnam, the Philippines, Hong Kong, and Singapore. Its offering to users will be enhanced with the addition of platforms OneShift, a portal that connects sellers with buyers and dealers, and Revo Financial, which offers loans and other financial services.
• “We want to transform Carousell Auto Group into a one-stop shop for everything autos-related. Soon, our users across the region will be able to sell and buy their cars quickly in a seamless manner, and have access to the entire autos ecosystem of workshops, accessories and services,” said Lucas Ngoo, co-founder of Carousell.
• Carousell said it’s the most-visited auto classifieds platform in the region, with one of the biggest inventories of auto-related listings. Its cars business is now Carousell’s largest vertical, contributing a third of the company’s revenue.
• Read the full article on Marketing Magazine 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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