NEXEA Founder and Partner Ben Lim

Malaysia-based startup investment company, NEXEA, has injected RM1.7 million (approximately US$415,000) into three local ventures, namely ParkIt Solutions, Plush Services and RunningMan.my.

“Well as a VC fund, we are always looking for the best founding teams out there — and these guys have proven over the years that they are consistent with delivering results,” Ben Lim, Founder and Partner of NEXEA, told e27. 

Based in Selangor and founded by Kyan Liew, ParkIt is an online vehicle parking services platform that connects drivers to unused spare parking spaces owned by local property owners.

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“ParkIt has outperformed many similar startups in its category in terms of year-on-year revenue growth with high margins sparking our interest in their proptech space. The market size regionally continues to grow quickly as traffic congestion and population density increases,” he added.

Started by Yap Zer Ken and Yap Vin Li, Kuala Lumpur-based Plush Services is a short-term rental management startup, which helps you optimise all your property listings across multiple channels, thus maximising your yield. The startup manages everything end-to-end — interior design, cleaning, repair  and maintenance, photography and listing, guest concierge and check-in, and administration and paperwork.

“Plush has shown great business efficiencies and revenue growth. It currently holds some of the top-performing properties in the country. Plush is a great business with a solid business model. Global trends are in huge favour of Plush as well,” added Lim.

RunningMan was founded by Andrew Chee and Wei Yong Tan. It is an on-demand food delivery service based headquartered in Kuala Lumpur. The startup provides a variety of choice for customers to choose from — even hawker stalls and local delights. One can access RunningMan’s service through mobile, tablet, desktop or via its app.

“RunningMan continues to grow with a strong plan for the future to expand nationwide. It has shown resilience and continues to perform well. Despite heavy competition, RunningMan continues to grow its delivery routes rapidly,” Lim commented.

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NEXEA is an investment-cum-startup accelerator, which invests in technology startups that have the potential to solve real problems and create products that change market landscapes. NEXEA funds anywhere between RM50,000 and RM1 million per startup. It also invests in startups via its accelerator programme.

To date, NEXEA has invested in about 20 companies, including Red Dino Ventures, Smartly, Lapasar, WeStyleAsia, and Kaya Metrics.