7 Malaysian Startups In Antler’s Latest Pre-Seed Funding Totalling RM24.2 Mil

Global venture capital firm, Antler, has recently revealed that they will be committing to their largest pre-seed investment round to 37 startups across Southeast Asia, 7 of which are in Malaysia.

According to a press release by Antler, this round of investment spans up to 19 different sectors, ranging from AI and B2B SaaS to fintech and healthcare to address specific regional challenges. Antler is also committed to working with sovereign wealth fund, Khazanah, to further expand Antler’s footprint in Malaysia.

RM24.2 million in pre-seed funding

This latest round of funding is also said to consist of about US$5.1M (RM24.2 million), a truly staggering amount.

Frank Kang, Associate Partner and Country Head for Antler Malaysia, said that the Malaysian companies involved with this round of investment includes Cleve, COEX, MessengerCo, PingMi, Seafoody, UniiD, and Zappy.

“As we mark our first investment round in Malaysia, we are excited by the potential. The diversity and calibre of the startups speak volumes about the country’s growing influence as a key player in the regional entrepreneurial landscape,” said Kang.

AI, Industry 4.0 sectors dominate

Antler states that as the earliest backer of startups uniquely enables them to both identify and drive emerging tech trends. The startups who made it in this round are mainly venturing into AI-powered solutions providers as well as digital services.

• COEX (Malaysia): A platform designed to maximize capital and operational efficiency in the construction industry.
• UniiD (Malaysia): Smart access solutions for buildings and cities through a mobile-based platform.
• Seafoody (Malaysia): A seafood supply chain enabler for direct sourcing to businesses.
• MessengerCo (Malaysia): A one-stop corporate gifting platform to optimize B2B gifting with a global solution.
• Zappy (Malaysia): Provides unified business communication tools, integrating various work conversations into one unified inbox.
• PingMi (Malaysia): AI co-pilot and product management platform to expedite revenue-driving ideas.
• Cleve (Malaysia): AI-powered tool to generate personalized content optimized for different platforms.

“As a multi-stage investor, we recognize the immense potential of early-stage startups in Southeast Asia. In this dynamic and challenging climate, we are especially drawn to pre-seed investments, particularly in verticalized AI and industry 4.0 startups that address deep-seated pain points and revolutionise the way models and data translate into tangible products,” said Jussi Salovaara, Co-founder and Managing Partner Asia of Antler.

Antler’s Day Zero and Khazanah’s Future Malaysia

Since its entry into Malaysia in July 2023, Antler aims to invest in over 30 startups in Malaysia across three years. This marks Antler’s initial commitment and footprint in Malaysia, It is part of its strategic partnership with sovereign wealth fund, Khazanah Nasional Berhad.

According to Antler, the changing and ever-evolving global dynamic has led to this latest round of investment to focus on specific trends, including verticalised AI, Industry 4.0 within the SEA region, and hyperlocal solutions with global scalability.

Antler’s position as one of the earliest backers of startups uniquely enables them to both identify and drive emerging tech trends.