Maxis takes stake in retail analytics startup ComeBy
By Digital News Asia August 15, 2022
- Aims to empower innovation, digitalisation in the retail industry
- Commitment towards corporate venture building, grow tech startups
Following the announcement of its first venture building initiative in edutech in June, Maxis has now taken a significant stake in Malaysian-based retail analytics startup, ComeBy in a bid to empower innovation and digitalisation in the retail industry.
In a statement, the telco said this initiative is part of its commitment towards corporate venture building and overall strategy to invest in and grow tech-driven startups and companies.
It said as the country’s converged solutions provider, the company is leveraging its network by providing startups and companies greater access to both technology and the human network to create more economic multipliers for the country.
“We are excited to see our venture building efforts on a good momentum, which clearly shows our strong commitment to fostering innovation in the country,” said Tai Kam Leong, head of brand and marketing, Maxis.
“Our investment in ComeBy will empower local entrepreneurs and businesses that demonstrate potential in making a significant impact to industries through digital innovation. We believe ComeBy's innovative approach to shopper data can help unlock new growth for retailers,” Tai said.
ComeBy claimed to provide offline retailers insights into their shoppers’ individual preferences before the point of checkout. By utilising a combination of active and passive tracking, the company increases in-store engagement and optimises in-store sales, remarketing, and merchandising.
To date, the startup has commenced pilots with several popular retail partners, including Senheng, and welcomes interested retailers to visit their website at ComeBy.io.
“In addition to the financial investment which will help us expand our team and scale more quickly, we are excited to be able to tap into Maxis’ own extensive network of retail partners, as well as its vast tech resources,” said Barry Ooi, co-founder of ComeBy.
ComeBy is a result of a collaboration effort with Wright Partners, a corporate venture builder that is exploring opportunities in the retail technology space.
Beyond funding, Maxis said it will also be providing companies that it invests in with access to support via its capabilities, experience and talent
The company has been active in the innovation space.
Recently Maxis announced its foray into venture building with significant stake in edutech startup GuruLab, and has been developing several innovation programmes through many initiatives such as the Maxis IoT Challenge, SPARK series, Market Access Day, and collaborations with the Malaysia Digital Economy Corporation.
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