[ad_1]
Before 2023 involves an finish, we determined to have a look again to see which Malaysian startups have earned the arrogance of buyers. Specifically, listed here are those who have raised greater than RM1 million up to now yr.
Aside from studying our enterprise predictions for 2024, we hope this listing of startups can encourage different Malaysian entrepreneurs within the coming yr.
So here’s a non-exhaustive listing that we’ve compiled, organized alphabetically.
1. Biogenes Technologies Sdn Bhd
Back in January, Biogenes Technologies Sdn Bhd (Biogenes), an area biotech (biotechnology) startup, bagged US$5.7 million throughout its Series A funding from Pembangunan Ekuiti Sdn Bhd (PESB).
Established in 2015, Biogenes is a biotech firm specialising in molecular diagnostics and genomics.
Some examples of its main applied sciences embody the computer-aided design of artificial antibodies (known as aptamers) and speedy point-of-care diagnostic options for infectious illnesses and screening most cancers biomarkers.
At the time, its press launch shared that the funds will go in direction of increasing Biogenes’ proprietary expertise platforms throughout Southeast Asia. Namely, this contains the Philippines and Indonesia the place Biogenes has signed collaboration agreements.
With the invested funds, the corporate goals to construct on its capability to supply 10 million take a look at kits per yr and additional develop aptamer-based diagnostic options.
2. Ejen2u
In early October, Malaysian agent administration platform Ejen2u International Sdn Bhd (Ejen2u) raised RM7 million in its Pre-Series A funding spherical.
According to its web site, Ejen2u is a homegrown cloud-based platform for managing brokers. As a tech startup targeted on the reseller business, the model’s aim is to supply an entire reseller ecosystem for the native micro, small, and medium enterprises (MSME) neighborhood the place they’re capable of oversee their reseller networks and companies.
With the funds raised from Gobi Partners and Artem Ventures, Ejen2u aimed to diversify their buyer base and develop into new markets like Indonesia.
At the identical time, the model additionally plans to develop its product catalogue to totally different segments of the direct-to-consumer (D2C) business. Specifically within the pipelines embody:
- EjenStore, a brand new on-line storefront and affiliate platform for brokers
- EjenCare, an earnings safety plan that’s just like Malaysia’s Social Security Organisation (SOCSO)
- EjenCapital, an answer to help retailers and brokers with stock financing
As of this yr, Ejen2u has supported over 340,000 resellers throughout the nation and are serving greater than 500 purchasers, the press launch acknowledged.
3. iMotorbike
iMotorbike, an ecommerce platform for purchasing and promoting pre-loved bikes secured RM12 million in its Series A funding spherical.
The fundraising was led by Gobi Partners and Ondine Capital, and was backed by a slew of buyers like Penjana Kapital, The Hive Southeast Asia, 500 Global, Goodwater Capital and Seedstars International Ventures.
One of the few native second hand marketplaces for two-wheelers, the 6-year-old model advised us that the funds would assist supercharge their enterprise development. This is especially when it comes to scaling operations, increasing its group and choices, and penetrating new regional markets.
At the time of our interview with them, they believed that 2023 is the “Year of the Bike” because it’s extra financially environment friendly to personal a motorcycle than a automobile.
4. Involve Asia
Involve Asia, a Malaysian affiliate internet marketing platform, raised over US$10 million in a funding spherical again in February.
It was led by Bintang Capital Partners Berhad, the personal fairness arm of Affin Hwang Asset Management Berhad. Other buyers embody notable native and worldwide names like 500 Global, Orbit Capital Malaysia, OSK Technology Ventures, and Cradle Seed Ventures.
As an affiliate internet marketing platform, Involve Asia allows manufacturers, associates, and influencers to develop their earnings by way of profitable on-line collaborations. Besides that, the model additionally permits advertisers to evaluate, oversee, and scale their advertising and marketing partnerships by way of its options.
In the press launch, it was shared that Involve Asia can be utilizing the funds to put money into firms that complement its enterprise and leverage its community of purchasers and companions. In line with that transfer, the affiliate internet marketing firm can be rising its group to maintain up with this.
5. Kiddocare
Malaysian caregiving platform, Kiddocare, closed its Pre-Series A spherical of funding in late September.
Although the quantity was not disclosed, the model advised Vulcan Post that it had raised seven-figure funds from notable buyers. This included Gobi Partners, MSW Ventures Asia Fund X, and ScaleUp Malaysia.
Launched in 2019, Kiddocare is a childcare service platform based by two working mums. “Central to our mission is the professionalisation of caregivers,” Nadira, the CEO, acknowledged in its press launch.
“This investment reinforces our resolve to elevate caregiving as a respected and professionalised career of choice.”
Moving ahead, the model seeks to kickstart The Kiddocare Academy to upskill native skills on family-related companies, similar to youngsters’s enrichment and training, and aged care companies. The latter is one thing which we predict will develop much more within the coming years.
6. MADCash
In early October, fintech startup MADCash raised RM5 million in its Pre-Series A funding spherical. The funding was led by Artem Ventures and supported by MSW Ventures and Scaleup Founders Fund.
MADCash stands for Multiply, Assist, Donate, which displays the model’s aim of supporting unbanked and underbanked ladies entrepreneurs. The thought stemmed from MADCash’s group who noticed ladies entrepreneurs struggling to restart their micro companies after the primary lockdown.
According to its press launch on the time, the funds can be used for just a few upgrades within the firm. Namely:
- to reinforce the corporate’s on-line platform utilizing AI expertise
- to cowl operational and advertising and marketing bills
- to discover growth alternatives within the Southeast Asia area
- to launch the MADCash Academy to coach extra ladies entrepreneurs on monetary literacy
Tunku Omar Asraf, the principal of Artem Ventures, defined the choice to put money into MADCash by saying, “MADCash recognises the importance of financial inclusion for closing the gap of poverty and gender inequality, which can lead to better economic growth in the SEA region.”
7. PolicyStreet
Less than two years after its Series A funding spherical, insurtech (insurance coverage expertise) startup PolicyStreet obtained US$15.4 million (RM67 million) throughout its Series B fundraising.
Led by Khazanah Nasional’s Dana Impak mandate, this funding in PolicyStreet enhances Khazanah Nasional’s Future Malaysia Programme which goals to assist the native startup ecosystem.
For context, the Future Malaysia Programme helps investments into firms with sustainable enterprise fashions that ship socioeconomic influence to the native communities.
Yen Ming Lee, PolicyStreet’s CEO and co-founder, defined that the insurtech startup is dedicated to empowering underinsured companies and customers by offering accessible insurance coverage options.
This funding spherical particularly can be used to strengthen its expertise and underwriting capabilities. By doing so, the group will have the ability to higher faucet into underserved and underinsured viewers segments within the nation and the area.
8. Qarbotech
Qarbotech, a Malaysian agritech startup, closed US$700,000 (roughly RM3,264,450 on the time) in seed funding and grants earlier in December.
The seed spherical was led by 500 Global and included grants from Malaysia’s Khazanah Nasional and Singaporean government-linked Temasek Foundation. Both have been gained by way of challenges, particularly the Temasek Foundation’s Climate Impact Innovations Challenge and the Khazanah Impact Innovation Challenge 2023.
Launched in 2018, Qarbotech develops a biocompatible answer that will increase the photosynthesis price of leafy vegetation. This helps in shortening the crop cycle and rising crop yields by 60%.
According to its press launch, the funds will enable the agritech startup to strengthen their R&D efforts. Along with that, they’ll additionally have the ability to develop manufacturing services to supply as much as 50 instances its present capability.
“As the industry’s most accessible photosynthesis enhancer, we are pioneering a new and disruptive solution that will reshape conventional approaches to farming,” mentioned the CEO and co-founder of Qarbotech, Choe Chee Hoe.
9. Soft Space Sdn Bhd
Earlier within the yr, B2B fintech firm Soft Space Sdn Bhd bagged US$31.5 million in investments after closing its Series B1 funding spherical.
It was led by Southern Capital Group (SCG) Pte. Ltd, with participation from buyers like Japanese firms transcosmos inc and JCB, and South Korea’s KB Investment.
Founded in 2012, Soft Space goals to streamline monetary infrastructures and facilitate seamless funds for patrons in a easy and economically environment friendly method.
At the time of the information in April, Soft Space was reportedly specializing in increasing into omnichannel funds, together with the adoption of synthetic intelligence, QR code funds, e-wallet methods, and cash lending schemes.
Hence, with that in thoughts, the funds acquired from this spherical can be used to develop the model’s world footprint, speed up the innovation of its full-stack funds platform, and to develop into next-generation technological options.
-//-
While a few of the industries listed are fairly area of interest, it helps to pay attention to what buyers are investing in as a result of its potential to develop additional.
This supplies insights into which fields can be rising within the close to future, so others available in the market can higher themselves too. For instance, you can discover methods to leverage the expansion of sure industries to your benefit.
Either approach, we thought we’d take this chance to want these Malaysian startups a hearty congratulations as soon as once more on their funding rounds!
We sit up for seeing extra Malaysian startups making such achievements within the subsequent yr.
- Read articles we’ve written about Malaysian startups right here.
- Read articles we’ve written about funding right here.
Featured Image Credit: Nadira Yusoff, founder and CEO of Kiddocare / Jimmy How, CEO of Involve Asia / Sharmeen Looi, co-founder of iMotorbike
[ad_2]
Source link
