Daily Markup #66: Startup lets anyone invests in gold, for as low as RM1; Aerodyne and Celcom…

Say hello to… HelloGold

  • Nasi lemak is the recognizable and affordable meal of Southeast Asia. Robin Lee of 500-backed HelloGold says if one is able to afford the rice dish, they can afford to invest in gold.
  • Speaking to August Man, Robin tells of his mission of making gold as accessible and affordable as possible to the masses. After his tenure with the World Gold Council in London, he co-founded HelloGold in 2015.
  • “For a lot of people, the amount of financial services available to them depends greatly on the amount of money they have. Even for say a fixed deposit, you need at least RM1,000 per se to start saving, that isn’t the case with HelloGold. If you can afford nasi lemak you can afford gold, ” Robin says.
Credit: The Edge Markets
  • Investments can be made via an app, making it convenient for anyone to tap into gold trading through their fingertips — anywhere and anytime.
  • When a user hits a certain threshold in their savings, they can choose to convert them into a physical gold bar or cash.
  • In February, HelloGold introduced the SmartSaver program where a user can put in any amount between RM30 to RM1,000 monthly to achieve their gold savings target.
  • HelloGold is the world’s first Shariah-compliant gold mobile app.

Drone tech partners telco

  • 500-backed drone tech firm Aerodyne has announced a partnership with Malaysia’s Celcom to explore the development of drone technology, specifically for urban and agricultural settings.
  • According to the press release, this is part of the country’s ongoing Industrial Revolution (IR) 4.0 slew of initiatives focusing on future technologies.
  • Through this tie-up, Aerodyne can count on Celcom’s 5G abilities to improve drone capabilities.
Credit: Celcom
  • “We are excited about this proposed strategic partnership, with Celcom as our preferred connectivity provider to jointly explore and develop smart solutions using drones by leveraging on 5G technology.
  • “This will enable drones to transmit high-definition footage in real-time. 5G’s millisecond latency and data speeds of up to 100 times faster than 4G allows drones to transmit high-quality footage and data to operators on the ground,” says Aerodyne founder Kamarul A Muhamed.
  • The Celcom partnership is the latest round of strategic agreements from Aerodyne. In May, it announced a MOU (Memorandum of Understanding) with the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank (IDB) Group.

Test-kits for all

  • After signaling the return of live football and cricket behind closed doors in the UK, 500-backed Prenetics is now working with two more organizations for Covid-19 testing.
  • The Hong Kong-based digital health company has partnered with Matchroom Boxing, a leading boxing promoter, and Asia’s fastest-growing hotel business, Dorsett Hospitality International.
Credit: Bloomberg
  • The testing for all boxers, staff, and ring personnel will be conducted at the start of every “fight week”, according to reports. If an individual’s test results are negative, they’ll be allowed to attend press events and weigh-ins.
  • On the other hand, Prenetics test kits will be made available for purchase at nine locations belonging to Dorsett Hospitality International. These kits can be purchased at a 50% discount for the hospitality group’s associates and employees.
  • Last week, Prenetics was listed by the Hong Kong government to assist in curbing a new wave of positive coronavirus cases. CEO Danny Yeung said they would ensure that testing is “accessible” and “easy”. Over the next few weeks, 20,000 restaurant staff across 16,000 restaurants will be tested.
  • Through the £4 million contract with the Premier League, Prenetics has carried out over 40,000 tests for players and staff.

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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