Educate and empower

• To further equip merchants with the right tools to navigate the digital space, 500-backed Grab has launched Grab Merchant Academy.
• Providing over 20 modules focusing on digitization, business owners can learn project management, online marketing, menu optimization, and more — for free.
• The modules are tailored to meet the needs of merchants at different growth stages, whether they’ve new to Grab, steadily receiving orders, or requiring guidance, Grab said. The company hopes to empower over 3,000 merchants by the end of this year.

• Launching hand-in-hand with the academy is GrabFood Bank, an online image repository which digital resource-strapped merchant-partners can use for their menu listing and promotions to drive sales conversion.
• The repository is crowd-sourced and anyone can contribute by hashtagging #GrabFoodBank on Instagram and tagging the merchant.
• “This is increasingly apparent as the online F&B scene becomes more crowded. Business owners will need to learn more digital skills to be able to stand out. We understand our merchant-partners have very different levels of digital proficiency and this is where we hope to help,” said Dilip Roussenaly, senior director of GrabFood Singapore.
• In a similar vein, the recently introduced FoodCourts by GrabFood feature allows users to group their orders if the merchants are located in the same food court.

Building better and cleaner bikes

• 500-backed Ion Mobility is on a mission to reimagine an age-old mode of transportation in Asia: The humble motorcycle.
• “There’s no reason why the trusty motorcycle shouldn’t join the ranks of devices that form part of our digital flow in the internet era,” James Chan, CEO of Ion Mobility, told GovInsider in an interview.
• While motorbikes are commonplace in Asia, there has been a lack of innovation in the segment, James said.
• “There’s been a gradual decrease in the momentum, the velocity of new innovation in that space.”
• James added that conventional bikes contribute to urban smog and consume more power, but an electric bike does the opposite.

• Founded in 2019 by James and Joel Chang, Ion Mobility is focusing on Indonesia, one of the biggest motorcycle markets globally. The plan is to launch its first EV bike in the country in 2021.
• With new funds, the company plans to scale its operations and teams in Singapore, Shenzhen, and Jakarta as well as building up its in-house research and manufacturing capabilities.

Strong growth

• 500-backed Bukalapak’s strategy to focus on Tier 2 cities in Indonesia is paying off.
• The company has been tapping into mom-and-pop stores in these areas with Mitra Bukalapak.
• Launched in 2017, Mitra Bukalapak serves as a business-to-business marketplace where shop owners connect with consumer goods companies to replenish stock.
• “Bukalapak’s focus has always been on the small and medium businesses as well as the Tier 2 cities. So far, we’ve been on the right track,” said CEO Rachmat Kaimuddin.

• The numbers back up Rachmat’s forecast. In September, Bukalapak’s president Teddy Oetomo revealed the company had improved its EBITDA (earnings before interest, tax, depreciation, and amortization) by 70% between the Q4 2018 and Q2 2020.
• According to The Jakarta Post, revenue generated from Mitra Bukalapak’s offline partners makes up 30 percent of the platform’s total revenue.
• Thus far, the unicorn has partnered with 5.4 million warung (food stalls) and individual agents through Mitra Bukalapak.

Missed out the last Daily Markup? Go here to check it out.

You can also find us on LinkedIn, Facebook, Twitter, and Instagram.

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.

This post is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively “500 Startups”) makes no representation as to the accuracy or information in this post and while reasonable steps have been taken to ensure that the information herein is accurate and up-to-date, no liability can be accepted for any error or omissions. All third party links in this post have not been independently verified by 500 Startups and the inclusion of such links should not be interpreted as an endorsement or confirmation of the content within. Information about portfolio companies’ markets, competitors, performance, and fundraising has been provided by those companies’ founders and has not been independently verified. Under no circumstances should any content in this post be construed as investment, legal, tax or accounting advice by 500 Startups, or an offer to provide any investment advisory service with regard to securities by 500 Startups. No content or information in this post should be construed as an offer to sell or solicitation of interest to purchase any securities advised by 500 Startups. Prospective investors considering an investment into any 500 Startups fund should not consider or construe this content as fund marketing material. The views expressed herein are as at the date of this post and are subject to change without notice. One or more 500 Startups fund may have a financial interest in one or more of the companies discussed.

500 Durians

Born in Silicon Valley. Raised in Southeast Asia.

Following