Quest Ventures and ScaleUp Malaysia have announced that they will be teaming up to invest in 11 local Malaysian companies in the latter’s second cohort program for their #Quest2Scale. The joint venture will be disbursing a total of  $680,185 (RM2.75 million). Each of the 11 companies will be receiving an investment of $68,144 (RM250,000) to help grow their businesses.

ScaleUp Malaysia Managing Partner Tay Shan Li comments on the companies’ selection process: “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 program. 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.”

Since the initial selection of 20 companies in ScaleUp Malaysia’s Cohort 2, the Quest Ventures team has been very much involved. The VC firm has been holding one-on-one sessions to train the different companies. Quest Ventures also took part in ScaleUp Malaysia’s selection process for the 11 companies, 65 percent of which are proudly owned by women founders.

  • ERTH (e-Waste Recycling Through Heroes): An award-winning social enterprise that specializes in collecting and recycling electronic waste (e-waste) from households and businesses.
  • Fefifo: Pioneering digitalized, standardized farming in ready-to-farm modern farm spaces called co-farms, to make sustainable, profitable smallholder farming commonplace in Southeast Asia.
  • Hatio: A technology provider specializing in supply chain and logistics. Their experiences span warehouse automation, smart logistics, robotics, artificial intelligence, and the internet-of-things.
  • Hauz: A data-driven enterprise solution that manages and monitors mobile workforce operations in the service industry.
  • Homa2u: 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 for your house project.
  • Kiddocare: An online platform that connects parents with trained Malaysian babysitters and early childhood education providers for personalized, on-demand service.
  • Load2Go: An on-demand logistics platform for booking big trucks for large freight, construction, and manufacturing industries.
  • MMC: A food-based company that 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: A car wrap advertising company that matches brands with drivers (Brand ambassadors) for data-backed creative execution outdoor advertising.
  • Pomen: A SaaS automotive maintenance platform that specializes in fleet companies and vehicle owners to connect with workshops and service providers to benefit them with valuable vehicle and financial insight.
  • Quadby: The Nextdoor for universities. It is a community app for students to find and chat with peers on campus.

“Our work across the 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. We are inspired by the desire and commitment of the founders we have worked with in ScaleUp Malaysia’s Cohort 2 and we are excited to continue this journey with these 11 companies in the years to come,” said Jeffrey Seah, Quest Venture Managing Partner.

The selection and investment are only the beginning for the 11 companies’ #Quest2Scale. Quest Ventures and ScaleUp Malaysia will be helping these companies as they go through an intensive process to develop and execute plans.