Daily Markup #218: SOLS Energy and the rise of green power; Arcstone brings the X factor to factories; How Carousell serves millions with a team of 5

A Malaysian powerhouse

  • 500-backed sustainable energy startup SOLS Energy was featured in The Edge Markets’ article about green technology.
  • The startup installs solar panels for residential and commercial areas in Malaysia and runs an academy to equip underprivileged youths with technical skills in the solar industry.
Credit: Vulcan Post
  • According to the article, there has been an acceleration in the adoption of renewable energy technologies in Malaysia. “Solar power is not new,” said Raj Ridvan Singh, founder and CEO of SOLS Energy. “What has happened is that installing solar power systems is now extremely affordable and readily available, so much so that even homeowners can generate electricity from their roofs.”
  • He shared that the startup also works with multinational corporations and companies to encourage their employees to adopt renewable energy.
  • Read the full article on The Edge Markets here.

Greasing gears

  • 500-backed startup Arcstone helps companies digitally monitor, manage, and maintain manufacturing equipment and processes. With its tools, manufacturers gain better visibility and optimization of their supply chain operations.
Credit: Tech in Asia
  • A global lighting solutions company faced difficulties in managing the maintenance of its significant number of machines in each site. Prior to engaging Arcstone, it relied heavily on a paper-based maintenance process.
  • Arcstone’s intervention led to a 14% reduction in indirect workload, 30% saved workforce time, decreased report creation time by 4 hours daily, and decreased maintenance time by 25%.
  • Read the full case study here.

Keeping it lean

  • A Google Cloud case study was dedicated to studying the success of 500-backed online marketplace Carousell’s use of cloud computing services.
  • Since streamlining its technology infrastructure needs, Carousell has been able to maintain its systems engineering team at five people despite over 200% growth in business.
Credit: Google Cloud
  • This has allowed its engineering team members to spend 70% of their time on innovation and large projects rather than infrastructure tasks.
  • Read the full case study on Google 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.

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.

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