Malaysia-based venture capital firm 1337 Ventures announced a new investment into 10 local startups through the Khazanah Nasional Entrepreneurship Outreach (KNEO) programme.
Each team will receive an investment of MYR20,000 (US$5,100) along with the options of US$15,000 of AWS Credits, US$20,000 of Google Cloud and Firebase credits, and US$120,000 of Microsoft Azure credits.
They will also receive the support and mentorship from the 1337 Ventures team through a 12-week mentorship programme that ends with a Demo Day event in May. The event will also provide them with opportunities to receive additional funding from both 1337 Ventures and Khazanah.
In addition to tech startups, this batch also includes companies working in the non-tech sector and social entrepreneurship.
The following is the list of the shortlisted startups:
The company described its mission as “empowering the masses to mitigate climate change through enabling more investments into energy efficiency and renewable energy projects.”
The platform is an auto payment reconciliation ensuring “secured and smooth” transactions for online marketplace sellers such as Lazada, Shopee, Zalora, and 11Street.
3. Grub Cycle
The platform is “social supermarket” dedicated to reducing food waste by selling food products that are close to expiry dates within one to three months at below market price, in order to help “thousands of” consumers save more.
The company is a mobile café chain powered by motorcycles with the purpose to resolve urban poverty and the physically challenged.
5. Malaysian Aquaponics Research Center
The center describes itself as “s sustainable contract farmer who also builds Aquaponics farms and educates society on urban farming.”
The platform is an online reservation app for business and customers.
The platform is a “fun, social savings” app to help youths save money for their targeted financial goals and reward them when they successfully achieve those goals.
Sync is a messaging app for schools to engage with targeted group of parents, students and teachers in real-time via mobile.
The company aims to make gift cards more accessible to consumers and the corporate crowd whilst providing innovative solutions for merchants to run their very own gift card programme.
10. Kravve.co – Discovery Channel For Malaysian Homemade Food & Snacks
An e-commerce platform for homemade artisanal food and a food selling management service which aims to help sellers save 80 per cent of time and money, reaping the benefits of online sales.
In a press statement, 1337 Ventures founding partner Bikesh Lakhmichand said that the “level” of startups in the Malaysian tech ecosystem is “significantly improving.”
“It’s also great that the social enterprises we are investing in have the same vision as the other companies on being sustainable and focusing on their business models to achieve that goal. We would also like to thank Khazanah for curating this programme to discover amazing talent throughout the entire nation,” he said.
Image Credit: 1337 Ventures