{"id":122,"date":"2021-02-04T00:00:00","date_gmt":"2021-02-04T00:00:00","guid":{"rendered":"https:\/\/markupbackup.wordpress.com\/2021\/07\/21\/durians-daily-185-this-indonesian-startup-is-on-a-mission-to-save-the-countrys-street-stalls\/"},"modified":"2021-08-03T09:08:18","modified_gmt":"2021-08-03T09:08:18","slug":"durians-daily-185-this-indonesian-startup-is-on-a-mission-to-save-the-countrys-street-stalls","status":"publish","type":"post","link":"https:\/\/dailymarkup.com\/?p=122","title":{"rendered":"Daily Markup #185: This Indonesian startup is on a mission to save the country\u2019s street stalls; Australian rocket company sets new world record for its 2022 launch; Singapore\u2019s Haulio sets foot (and tires) in Thailand"},"content":{"rendered":"<p><strong>Preserving tradition<\/strong><\/p>\n<ul>\n<li>CEO of 500-backed e-commerce platform <a href=\"https:\/\/www.bukalapak.com\/\" target=\"_blank\" rel=\"noopener\">Bukalapak<\/a>, Rachmat Kaimuddin, was <a href=\"https:\/\/www.youtube.com\/watch?v=nldJ7uvRzAc\" target=\"_blank\" rel=\"noopener\">interviewed<\/a> on CNBC\u2019s \u2018Make It\u2019 segment about the business of bringing street stalls online.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1440\" data-height=\"801\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7db48bc2dd.png\"><figcaption class=\"wp-caption-text\">Credit: CNBC International \/\u00a0YouTube<\/figcaption><\/figure>\n<ul>\n<li>Rachmat explains in Indonesia, many of them operate from their own home, selling basic goods such as soap and coffee. However, as the economy grew, they got left behind. Bukalapak was designed to help modernize millions of such businesses\u200a\u2014\u200aknown as warung.<\/li>\n<li>When the pandemic hit, the startup rode the surge in digital adoption, recording a 130% jump in transactions in 2020. It now serves 13.5 million micro, small, and medium enterprises and 100 million customers.<\/li>\n<li>Currently, the startup\u2019s estimated valuation sits between US$2.5 billion and US$3 billion.<\/li>\n<li>He also revealed that Bukalapak may be gearing up for an initial public offering later in 2021.<\/li>\n<li>\u201cHaving access to capital markets is good to have for a growing company,\u201d he said. \u201cWe are not to say anything until we have proof. But, of course, this is something that we understand to be important, and we are preparing ourselves to be IPO-ready.\u201d<\/li>\n<li>Watch the full interview <a href=\"https:\/\/www.youtube.com\/watch?v=nldJ7uvRzAc\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/li>\n<\/ul>\n<p><strong>Reaching new heights<\/strong><\/p>\n<ul>\n<li>500-backed Australian rocket company, <a href=\"https:\/\/www.gspacetech.com\/\" target=\"_blank\" rel=\"noopener\">Gilmour Space Technologies<\/a>, started the new year with a bang, <a href=\"https:\/\/prwire.com.au\/pr\/94205\/new-year-new-record-for-australias-gilmour-space-1\" target=\"_blank\" rel=\"noopener\">setting a world record<\/a> for hybrid rockets.<\/li>\n<li>The startup <a href=\"https:\/\/www.linkedin.com\/posts\/gilmour-space-technologies_new-year-new-record-for-australias-gilmour-activity-6757488684456648704-wqqx\" target=\"_blank\" rel=\"noopener\">completed<\/a> a successful hotfire of the world\u2019s largest single-port hybrid rocket engine, ahead of its first commercial launch of its Eris rocket for 2022. Eris is the startup\u2019s first commercial orbital vehicle, capable of launching small satellites into low earth orbits.<\/li>\n<li>\u201cWe achieved a record 91 kilonewtons (or 9 tonnes-force) of thrust in this initial verification test of our main engine,\u201d <a href=\"https:\/\/prwire.com.au\/pr\/94205\/new-year-new-record-for-australias-gilmour-space-1\" target=\"_blank\" rel=\"noopener\">said<\/a> Adam Gilmour, CEO and co-founder of the Queensland-based company.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1439\" data-height=\"797\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7db495eebb.png\"><figcaption class=\"wp-caption-text\">Credit: Gilmour Space Technologies<\/figcaption><\/figure>\n<ul>\n<li>\u201cThis is the engine that will be powering the first and second stages of our Eris orbital vehicle as it launches into space,\u201d he explained. \u201cI\u2019m happy to report that all systems performed very well during this 10-second test.\u201d<\/li>\n<li>\u201cMany of our Eris launch vehicle components have completed development testing, and the first flight articles are on the manufacturing floor ready for assembly,\u201d Adam said. \u201cThis is going to be a busy year for us; the year we build our rocket.\u201d<\/li>\n<li>Gilmour Space is also one of the eight Australian small-to-medium enterprises (SMEs) <a href=\"https:\/\/www.defenceconnect.com.au\/key-enablers\/7534-defence-issues-new-wave-of-grants-to-local-smes\" target=\"_blank\" rel=\"noopener\">awarded<\/a> a grant as part of the federal government\u2019s commitment to enhancing sovereign capability.<\/li>\n<\/ul>\n<p><strong>A great big haul<\/strong><\/p>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1440\" data-height=\"794\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7db4a16a6d.png\"><figcaption class=\"wp-caption-text\">Credit: Haulio<\/figcaption><\/figure>\n<ul>\n<li>500-backed logistics startup <a href=\"https:\/\/www.haulio.io\/\" target=\"_blank\" rel=\"noopener\">Haulio<\/a> took a look back at 2020, <a href=\"https:\/\/www.linkedin.com\/posts\/haulio_haulio-2020-year-in-review-activity-6761102166024429568-Dj4h\/\" target=\"_blank\" rel=\"noopener\">recording<\/a> positive numbers in the challenging year:<\/li>\n<\/ul>\n<ol>\n<li>Revenue growth of 38.5%<\/li>\n<li>More than 500,000 TEUs (Twenty-foot Equivalent Unit) transacted, growing 247%<\/li>\n<li>The Haulio Community System saw a 315% growth in trucks, serving 19% of the market share<\/li>\n<li>Established a presence in Thailand, digitalizing more than 400 trucks and executing more than 113,000 TEUs<\/li>\n<\/ol>\n<ul>\n<li>Get the full report <a href=\"https:\/\/www.linkedin.com\/posts\/haulio_haulio-2020-year-in-review-activity-6761102166024429568-Dj4h\/\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/li>\n<\/ul>\n<hr>\n<p><strong>Missed out the last Daily Markup? Go <\/strong><a href=\"https:\/\/dailymarkup.com\/\" target=\"_blank\" rel=\"noopener\"><strong>here<\/strong><\/a><strong> to check it out.<\/strong><\/p>\n<p><strong>You can also find us on <\/strong><a href=\"https:\/\/www.linkedin.com\/company\/500-durians\/\" target=\"_blank\" rel=\"noopener\"><strong>LinkedIn<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/www.facebook.com\/500durians\/\" target=\"_blank\" rel=\"noopener\"><strong>Facebook<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/twitter.com\/500Startups_SEA\" target=\"_blank\" rel=\"noopener\"><strong>Twitter<\/strong><\/a><strong>, and <\/strong><a href=\"https:\/\/www.instagram.com\/500durians\/?hl=en\" target=\"_blank\" rel=\"noopener\"><strong>Instagram<\/strong><\/a><strong>.<\/strong><\/p>\n<figure><img decoding=\"async\" data-width=\"400\" data-height=\"400\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7db4aba325.jpg\"><\/figure>\n<p>500 Startups is a venture capital firm on a mission to discover and back the world\u2019s 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.<\/p>\n<p><em>This post is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively \u201c500 Startups\u201d) 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\u2019 markets, competitors, performance, and fundraising has been provided by those companies\u2019 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.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Preserving tradition CEO of 500-backed e-commerce platform Bukalapak, Rachmat Kaimuddin, was interviewed on CNBC\u2019s \u2018Make It\u2019 segment about the business of bringing street stalls online. Credit: CNBC International \/\u00a0YouTube Rachmat explains in Indonesia, many of them operate from their own home, selling basic goods such as soap and coffee. However, as the economy grew, they [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":2080,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[322],"tags":[354,328,340],"class_list":["post-122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily","tag-bukalapak","tag-gilmour-space","tag-haulio"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Markup #185: This Indonesian startup is on a mission to save the country\u2019s street stalls; Australian rocket company sets new world record for its 2022 launch; Singapore\u2019s Haulio sets foot (and tires) in Thailand - Markup<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailymarkup.com\/?p=122\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Markup #185: This Indonesian startup is on a mission to save the country\u2019s street stalls; Australian rocket company sets new world record for its 2022 launch; Singapore\u2019s Haulio sets foot (and tires) in Thailand - Markup\" \/>\n<meta property=\"og:description\" content=\"Preserving tradition CEO of 500-backed e-commerce platform Bukalapak, Rachmat Kaimuddin, was interviewed on CNBC\u2019s \u2018Make It\u2019 segment about the business of bringing street stalls online. 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