Vegans assemble

• 500-backed food review startup abillion has teamed up with two organizations to launch a celebrity-endorsed campaign called #SaveVeganRestaurants. The startup is also committing US$1 million to the campaign’s fund.
• The initiative was prompted by abillion’s recent survey revealing that nearly 64% of restaurants in the US saw a loss in revenue during the pandemic, with one-third of vegan establishments saying they were in danger of closing.
• The campaign encourages everyone to support the vegan restaurant industry in the US by posting on Instagram with the hashtag #SaveVeganRestaurants. abillion users who publish a review on the app with the hashtag earns US$1 that goes to the campaign fund.
• The campaign will run for 12 months from 1 April 2021, with donations distributed to participating restaurants at the end of every month.
• Find out more about the #SaveVeganRestaurants campaign here.

Riding out the new normal

• “e-scooters are the perfect mode of transport for the post-pandemic world. They allow for socially-distanced travel and are also more sustainable than car journeys,” George Symes, the UK expansion manager of 500-backed Neuron Mobility, told City A.M.
• He shared that thousands of riders signed up in the first month of the startup’s trial in Slough, UK, adding that the startup’s data showed around 38% of e-scooter trips have replaced a car trip.
• A trial is set to begin in London in the next few months, with about a third of London’s boroughs having expressed an interest in taking part.
• Read the full interview on City A.M. here.

Raising the roof

• 500-backed proptech startup MHub built a suite of 10 apps to serve the real estate industry, cutting down the typically 9-month transaction process into one.
• The apps have been put to good use during the pandemic. Developers can show properties virtually to prospective customers, while customers can check their creditworthiness as well as the loan they can get from banks.
• When the lockdown first came into effect in Malaysia last year, the startup launched a digital campaign that successfully transacted 222 bookings in the first two weeks — a significant achievement as the rest of the market was almost at a standstill.
• According to the New Straits Times, MHub is now recognised as a market leader and the platform of choice for 10 out of the 15 top Malaysian developers.
• Read the full feature on New Straits Times 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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