Malaysian start-ups get RM3.6mil in new funding

Antler will invest a total of US$5.1 million in 37 start-ups in Southeast Asia.

PETALING JAYA, 31 January 2024: Singapore-based early stage venture capital firm Antler will invest US$770,000 (RM3.6 million) in seven start-ups in Malaysia in its latest pre-seed funding round.

They are among 37 Southeast Asian start-ups that will share the US$5.1 million (RM24.2 million) investment from Antler this year.

This will also be the highest number of pre-seed deals completed in a single round in Southeast Asia, Antler said in a statement yesterday.

At the regional level, the 37 companies are from a diverse range of 19 sectors, ranging from artificial intelligence (AI) and business-to-business software as a service (B2B SaaS) enterprises to fintech and healthcare.

Sovereign wealth fund Khazanah Nasional Bhd will be Antler’s strategic partner in Malaysia in its first investment in the country.

Among the start-ups that will receive funding are Seafoody, a seafood sourcing platform and MessengerCo, a one-stop platform for corporate gifting.

The seven Malaysian start-ups will receive US$110,000 (RM520,000) each.

Antler said it received more than 5,000 applications for its latest funding round.

Source: Free Malaysia Today 

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