ScaleUp Malaysia, Quest Ventures invest in 11 companies

 ScaleUp Malaysia, Quest Ventures invest in 11 companiesLOCAL accelerator ScaleUp Malaysia, which launched its second cohort of 20 companies in October 2020 in partnership with Quest Ventures, has selected 11 companies for their second cohort, disbursing a total of US$676,000 (RM2.75 million).

These 11 companies will receive an investment of US$61,844 (RM250,000) each to grow their business regionally, the company said in a statement. Diversity was also a highlight of this cohort, as 65% of the scaleups selected consisting of women founders.

“We had some amazing companies joining us as part of this cohort and we are proud of how far each of them has progressed in the programme,” said Tay Shan Li, managing partner of ScaleUp Malaysia (pic).

“This was a very difficult decision but ultimately, the investment committee selected the companies that they believed had the potential to grow their business regionally with the support of our partner Quest Ventures.”

ScaleUp Malaysia’s Cohort 2 key partner, Quest Ventures is a regional venture capital firm based out of Singapore that counts Temasek as one of their key investors. With more than 50 investments under their belt, Quest Ventures’ investments boast regional powerhouses like Carousell, 99.co and Carro. The Quest team has been hands-on throughout the second cohort programme.

From the initial selection of the 20 companies, one-on-one sessions, to organising focused training sessions on market expansion and fundraising, the team at Quest Ventures has been integral to ScaleUp Malaysia’s second cohort. Additionally, all three partners from Quest Ventures sat on the investment committee panel that selected these 11 companies.ScaleUp Malaysia, Quest Ventures invest in 11 companies

“Our work across Asia Pacific, and now Central Asia, have shown us that resilient founders with innovative business models and go-to-market nous have what it takes to be successful during these challenging times,” said Jeffrey Seah (pic, right), managing partner of Quest Ventures.

“We are inspired with the desire and commitment of the founders we have worked with in ScaleUp Malaysia’s second cohort and we are excited to continue this journey with these 11 companies in the years to come.”

ScaleUp Malaysia, Quest Ventures invest in 11 companies

With the journey having just started, both ScaleUp and Quest Ventures said they will now embark on an intensive process to develop and execute plans to partner these companies in their #Quest2Scale and be the success stories of the coming years.

Each company in the cohort will participate in customised demo days in front of venture capital, corporate innovation units and investment firms from around the world, it said.

Interested investing parties who wish to be included in this demo day are encouraged to register their interest here.

The list of 11 receipients are:

ERTH

(e-Waste Recycling Through Heroes) is an award winning social enterprise that specialises in collecting and recycling electronic waste (e-waste) from household and businesses

Fefifo

Fefifo is pioneering digitalised, standardised farming in ready-to-farm modern farmspaces called co-farms, to make sustainable, profitable smallholder farming common place in South East Asia

Hatio

Hatio is a technology provider specialising in supply chain and logistics. Their experiences span across warehouse automation, smart logistics, robotics, artificial intelligence and the internet of things.

Hauz

Hauz is a data driven enterprise solution that manages and monitors mobile workforce operations in the service industry, be in Malaysia or regionally

Homa2u

Homa2u is an online to offline (O2O) building materials and interior finishes marketplace where you can find a wide range of high quality, branded and bargain materials to your house project

Kiddocare

Kiddocare is an online platform that connects parents with trained Malaysian baby sitters and early childhood education providers for personalised, on demand services

Load2Go

Load2Go offers an on demand logistics platform for booking big trucks for large freight, construction and manufacturing industries.

MMC

MMC is a food-based company which operates several different businesses, including a central kitchen, food mart, cafe and vending machines. Their businesses are tracked and run on a proprietary technology solution.

MyBump

MyBump media is a car wrap advertising company that matches brands with drivers (Brand ambassadors) for data backed creative execution outdoor advertising

Pomen

Pomen is SaaS automotive maintenance platform that specialises in fleet companies and vehicle owners to connect with workshops and service providers to benefit them with valuable vehicle and financial insight

Quadby

Quadby is the Nextdoor for universities. They are a community app for students to find and chat with peers on campus

 

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