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ScaleUp Malaysia, Quest invest over USD 680,000 in growth-stage startups

Written by Stephanie Pearl Li Published on     2 mins read

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Each company will receive an investment of MYR 250,000 (USD 61,844).

ScaleUp Malaysia, an accelerator, and Singaporean VC Quest Ventures on Tuesday announced that they will invest MYR 2.75 million (USD 680,185) in eleven fast-growing Malaysian startups supporting their regional expansion.

The young companies, coming from sectors such as education, waste management, logistics, advertising, agriculture, are part of ScaleUp Malaysia’s second cohort. They will run through a 3-month intensive business coaching program and receive an investment of MYR 250,000 (USD 61,844) each.

Selection criteria have been the capability to generate revenue, market-fit demonstration of their product, scalability, along with value-based pricing potential, market expansion, growth potential, as well as the founders’ quality, according to ScaleUp Malaysia.

These are the eleven startups that have been chosen:

  • ERTH is an e-waste management platform that collects and recycles electronic waste from households and businesses.

  • Fefifo offers ready-to-farm modern farm spaces to make sustainable, profitable smallholder farming commonplace in Southeast Asia.

  • Hatio provides digital solutions for supply chain and logistics, whose services span across warehouses, smart logistics, robotics.

  • Hauz provides a data-driven enterprise solution that manages and monitors mobile workforce operations in the service industry in Malaysia and Southeast Asia.

  • Homa2u is an online-to-offline (O2O) building materials and interior finishes marketplace.

  • Kiddocare is an online platform that connects parents with trained Malaysian baby sitters and early childhood education providers.

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

  • MMC is a company that provides online and offline solutions from hardware to software for the F&B industry.

  • MyBump is a car wrap advertising company that connects brands with drivers for data-backed outdoor advertising.

  • Pomen is a SaaS automotive maintenance platform that connects fleet companies and vehicle owners with workshops and service providers to provide them with vehicle and financial insight.
  • Quadby is a community app for students to find and chat with peers on campus.
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