{"id":74,"date":"2021-04-13T00:00:00","date_gmt":"2021-04-13T00:00:00","guid":{"rendered":"https:\/\/markupbackup.wordpress.com\/2021\/07\/21\/durians-daily-232-grab-pledges-us275-mil-for-southeast-asia-mhub-wins-3rd-place-in-huawei\/"},"modified":"2021-08-03T08:56:39","modified_gmt":"2021-08-03T08:56:39","slug":"durians-daily-232-grab-pledges-us275-mil-for-southeast-asia-mhub-wins-3rd-place-in-huawei","status":"publish","type":"post","link":"https:\/\/dailymarkup.com\/?p=74","title":{"rendered":"Daily Markup #232: Grab pledges US$275 mil for Southeast Asia; MHub wins 3rd place in Huawei competition; Carsome, Reddoorz &#038; Fabelio make FT\u2019s list"},"content":{"rendered":"<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"750\" data-height=\"498\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7dafb9694d.png\"><figcaption class=\"wp-caption-text\">Credit: Tech in\u00a0Asia<\/figcaption><\/figure>\n<p><strong>Spurring social change<\/strong><\/p>\n<ul>\n<li>500-backed super app <a href=\"https:\/\/www.grab.com\/\" target=\"_blank\" rel=\"noopener\">Grab<\/a> announced its plans for the <a href=\"https:\/\/www.grab.com\/sg\/press\/others\/grab-announces-grabforgood-fund-to-benefit-grab-partners-and-southeast-asian-communities\/\" target=\"_blank\" rel=\"noopener\">GrabForGood fund<\/a>, which has an initial value of US$275 million. The startup is seeding the fund with US$50 million in cash and US$225 million in Grab shares, including a personal contribution of US$25 million in Grab shares from Group CEO and co-founder Anthony Tan, co-founder Tan Hooi Ling, and President Ming Maa.<\/li>\n<li>The startup\u2019s immediate commitment is up to US$20 million in cash from the fund to fully subsidise the cost of Covid-19 vaccines and vaccine administration of eligible driver- and delivery-partners not covered by a national vaccination program.<\/li>\n<li>For the wider Southeast Asia community, the startup plans to run financial and digital literacy programs, grants or incentives to build climate change resiliency, and catastrophic relief.<\/li>\n<li>Get the full details of Grab\u2019s announcement <a href=\"https:\/\/www.grab.com\/sg\/press\/others\/grab-announces-grabforgood-fund-to-benefit-grab-partners-and-southeast-asian-communities\/\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"1080\" data-height=\"720\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7dafc5db2e.jpg\"><figcaption class=\"wp-caption-text\">Credit: Digital News\u00a0Asia<\/figcaption><\/figure>\n<p><strong>Bringing it home<\/strong><\/p>\n<ul>\n<li>500-backed proptech startup <a href=\"https:\/\/mhub.my\/\" target=\"_blank\" rel=\"noopener\">MHub<\/a> has <a href=\"https:\/\/www.digitalnewsasia.com\/business\/innov8tif-doctoroncall-mhub-emerge-top-winners-huawei-sparks-competition\" target=\"_blank\" rel=\"noopener\">won third place<\/a> in the Huawei Spark competition. The startup was among 10 finalists shortlisted from more than 140 entries.<\/li>\n<li>Organized by Huawei Technologies (Malaysia), the competition is part of the Huawei Spark program, which aims to incubate and accelerate company growth and build an ecosystem for businesses in the Asia Pacific (APAC) region.<\/li>\n<li>MHub is an end-to-end property platform designed to speed up and simplify the property sales cycle by connecting developers, agents, banks, lawyers, and buyers.<\/li>\n<li>Read the full article on Digital News Asia <a href=\"https:\/\/www.digitalnewsasia.com\/business\/innov8tif-doctoroncall-mhub-emerge-top-winners-huawei-sparks-competition\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/li>\n<\/ul>\n<figure class=\"wp-caption\"><img decoding=\"async\" data-width=\"900\" data-height=\"506\" src=\"https:\/\/dailymarkup.com\/wp-content\/uploads\/2021\/07\/img_60f7dafcd02d9.jpg\"><figcaption class=\"wp-caption-text\">Credit: Financial Times<\/figcaption><\/figure>\n<p><strong>Making the list<\/strong><\/p>\n<ul>\n<li>Three 500-backed startups have been ranked in the <a href=\"https:\/\/www.ft.com\/high-growth-asia-pacific-ranking-2021\" target=\"_blank\" rel=\"noopener\">Financial Times\u2019 high-growth companies in Asia Pacific<\/a>.<\/li>\n<li>Listed were automotive e-commerce platform <a href=\"https:\/\/www.carsome.my\/\" target=\"_blank\" rel=\"noopener\">Carsome<\/a> at number 16, hospitality startup <a href=\"https:\/\/www.reddoorz.com\/\" target=\"_blank\" rel=\"noopener\">Reddoorz<\/a> at number 19, and online furniture retailer <a href=\"https:\/\/fabelio.com\/\" target=\"_blank\" rel=\"noopener\">Fabelio<\/a> at number 34, representing Malaysia, Singapore, and Indonesia respectively.<\/li>\n<li>Compiled in partnership with Nikkei Asia and research provider Statista, this annual ranking lists 500 companies in the Asia-Pacific region that have achieved the highest compound annual growth in revenues between 2016 and 2019.<\/li>\n<li>View the full list on Financial Times <a href=\"https:\/\/www.ft.com\/high-growth-asia-pacific-ranking-2021\" 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_60f7dafd1d800.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>Credit: Tech in\u00a0Asia Spurring social change 500-backed super app Grab announced its plans for the GrabForGood fund, which has an initial value of US$275 million. The startup is seeding the fund with US$50 million in cash and US$225 million in Grab shares, including a personal contribution of US$25 million in Grab shares from Group CEO [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":2032,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[322],"tags":[341,395,143,380,375],"class_list":["post-74","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily","tag-carsome","tag-fabelio","tag-grab","tag-mhub","tag-reddoorz"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily Markup #232: Grab pledges US$275 mil for Southeast Asia; MHub wins 3rd place in Huawei competition; Carsome, Reddoorz &amp; Fabelio make FT\u2019s list - 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=74\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Markup #232: Grab pledges US$275 mil for Southeast Asia; MHub wins 3rd place in Huawei competition; Carsome, Reddoorz &amp; Fabelio make FT\u2019s list - Markup\" \/>\n<meta property=\"og:description\" content=\"Credit: Tech in\u00a0Asia Spurring social change 500-backed super app Grab announced its plans for the GrabForGood fund, which has an initial value of US$275 million. 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