ScaleUp Malaysia has announced its Cohort IV and investments in seven innovative companies.
In a statement on Wednesday, ScaleUp Malaysia said the companies selected for Cohort IV are BeeBag, Docspe, Huddle, Petotum, Stayhere, and Kabel who will receive a $100,000 investment each, while the seventh company, Sonicboom, will receive an undisclosed strategic investment.
It said that this cohort marks a significant milestone for the agency, with upfront investments for its accelerator program as opposed to at the end of the program as with previous cohorts.
These companies will undergo a rigorous 12-week accelerator program aimed at refining their business models, developing regional scalability, and will culminate in a demo day with investors from all over the world.
“We are delighted to welcome Cohort IV to our accelerator program,
“Our selection process was highly competitive, and we are thrilled to have seven outstanding and diverse companies on board,” said Andre Sequerah, Managing Partner at ScaleUp Malaysia.
According to him, these companies have been selected based on their potential to drive regional scalability and positive impact to society and the economy.
“We are also happy to add two female founded companies to our portfolio which brings us to a total of 14 companies with female founders,” he added.
According to the statement, the focus of the accelerator program is to equip the companies with the necessary skills and knowledge to take their businesses to the next level.
The program will provide the companies with best practices in pitching, financial modelling, business strategy, and product development.
“We are committed to providing our cohort companies with comprehensive support and resources to help them grow and succeed,” said Tay Shan Li, Managing Partner at ScaleUp Malaysia.
According to him, the agency’s team of experienced mentors and advisors will guide them through the program to refine their business models and strategies to attract further funding and drive regional growth.
“Over the past 3 cohorts we have designed best practices to work with our investee companies and have seen immense success in helping them regionalise and raise their next rounds,” he added.
ScaleUp Malaysia received over 200 applications for Cohort IV, with a success rate of less than 4 percent.
The firm received applications from countries all over the region including Hong Kong, Philippines, Vietnam, Singapore and Indonesia.
Countries expressing interests came as far as from the United Kingdom and United States of America.
Selected companies comprise of ventures in IOT, Health Tech, SportsTech, Pet Care, Travel Tech, HR Tech and Fintech.
ScaleUp Malaysia is an accelerator that focuses exclusively on growth-stage companies in Malaysia – helping them position their business for exponential growth.
The agency is founded by a team of experienced entrepreneurs, professionals and seasoned investors.
Championing the concept of building “Pegasus” companies of building fast-growing profitable businesses, ScaleUp Malaysia companies go through a program that includes in-class training, one to one coaching and equity investment for selected companies.
Selected List of Companies
BeeBag – BeeBag is a smart retail startup working on gamifying sustainable shopping. The firm created a mobile app and the technology to transform ordinary reusables into smart reusables that reward shoppers for their sustainable actions.
Docspe – Docspe is an integrated ecosystem, bridging gaps between healthcare providers. The firm is automating day-to-day operations for clinics and pharmacies, reducing friction and errors with an advanced electronic health record (EHR) solution.
Huddle – Huddle uses artificial intelligence (AI) technology to stream thousands of live amateur and youth sporting events across the country straight to the palm of your hand.
Petotum – Petotum is the first pet ecosystem integrator in Southeast Asia. The firm provides an integrated system for pet owners, lovers, businesses, and the community to revolutionize the pet care ecosystem.
StayHere – StayHere is a one-stop vacation rental solution for proprietors with a vision to disrupt the accommodation industry in Asia, where unbranded premium apartment rental supply is still fragmented and under-serviced.
Kabel – Kabel is an AI-powered job matching platform, similar to Tinder, that connects employers with university students for internships and job opportunities, helping early talents discover their career interests and develop work-ready skills, with the goal of becoming the top platform in Southeast Asia for launching careers.
Sonicboom – Sonicboom is a top Malaysian fintech, transforms payment solutions for unattended businesses using software as a service (SaaS) and cloud-based tech. Excelling in parking, transportation and transit, the firm processes MYR 120 million ($27.08 million) cashless transactions yearly.