This battery replacement startup is getting juiced for an IPO

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Hello reader,

Sometimes, boring is good. When I go to restaurants or fast food places, there are usually exciting seasonal options to try. In Singapore, for example, McDonald’s has rolled out burgers with different flavors over the years, such as the nasi lemak and the sweet chili fish.

While variety is the spice of life,I just want an old reliable sometimes, like a cheeseburger. It’s fuss-free and easy. It may be boring in contrast to the other options, but it hits the spot every time.

This idea of “boring is good” applies to startups as well. In a sector full of emerging tech and thrilling innovations, it’s sometimes the ones that look “boring” that are the most interesting. My colleague Emmanuel delves into one such company in today’s premium story.

Today we look at:

• A Malaysian battery replacement startup on the road to an IPO
• An Indian proptech firm that’s just raised funds
• Other newsy highlights such as Reliance’s plans to spin off Jio and China’s tech companies and their renewable energy progress

Premium summary

Not boring, but buzzworthy

Image credit: Timmy Loen

Bateriku is a Kuala Lumpur-based roadside assistance tech firm that may seem “boring” on the surface, says its founder Azarol Faizi. However, its filings show that it’s been in the black for the last five financial years, and its sound fundamentals has attracted investor attention.

• Charging up: Bateriku provides a wide range of roadside assistance services, including producing its own batteries. It recently completed an undisclosed series B raise involving three investors: Malaysia’s Retirement Fund Inc, state-owned agency VentureTech and private VC firm Gobi Partners. The money will be used to expand Bateriku’s services.
• Leveraging tech:: The company uses technology to streamline operations and provide a superior customer experience. Its app can guidetechnicians through battery replacements and automate its order process to deliver efficient service across different car brands. Bateriku has also struck partnerships to service fleet providers such as Socar as well as car rental companies, and also has an academy for technicians.
• Coming up next: The big idea is to create an integrated ecosystem for vehicle maintenance and repairs. Bateriku is looking to make its stock market debut on Bursa Malaysia and has plans to expand into Indonesia.

Read more: The Malaysian battery replacement startup supercharging to IPO

News spotlight

Props for proptech

We’re excited to hit the town next week!

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