The top provider of connected roadside assistance services in Malaysia, Bateriku (M) Sdn Bhd (Bateriku.com), has Secured $7.4 million in its Series B fundraising round.
According to a statement, Kumpulan Wang Persaraan (Diperbadankan) (KWAP), Gobi Partners, VentureTECH SBI Capital LP, and VentureTECH Sdn Bhd provided strategic backing for this transaction.
Bateriku.com stated that it is prepared to make significant advancements, building on the success of its Series A funding led by Malaysia Technology Development Corporation (MTDC) in 2022.
These funds will be used by Bateriku.com to advance its technology and improve the Vehicle Ownership Experience (VOE) over the course of the next 18 months.
In 2022, Bateriku.com established Akademi Bateriku in accordance with its social duty.
Within its ecosystem, this certified institute offers automotive professionals reskilling and upskilling programs, recognized by the Department of Skills Malaysia under the Ministry of Human Resources.
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Bateriku.com Founder and Chief Executive Officer Azarol Faizi said, “Securing this funding in our 10th year is a tremendous honour. It reflects the unwavering trust our investors place in our vision. This investment will fuel our mission to transform roadside assistance and reshape the automotive ecosystem.” Our journey began as a traditional battery retailer, but our vision was always to build an integrated ecosystem catering to every vehicle owner’s needs,” he said.
Almost 2,000 Malaysians have taken the classes thus far. These attendees have included individual mechanics, workshop owners (such Petronas AutoExpert), the general public, and members of Bateriku.com’s own ecosystem (such as BPreneur entrepreneurs and BHero gig mobile technicians).
Within its vast network, Bateriku.com has about 200 Pitstop locations throughout Malaysia in addition to its first overseas location in South Jakarta, Indonesia.
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Approximately 3,000 workshop and auto part partners, 78 entrepreneurs, and over 1,000 skilled gig technicians make up its ecosystem. Everything is managed by a Contact Center that operates around-the-clock and 365 days a year, effortlessly connecting clients with the closest service providers.
Gobi Partners Co-founder and Chairperson Thomas Tsao said, “Bateriku.com’s ‘Go Recon Save The World’ initiative aligns perfectly with our mission to invest in ventures that not only deliver strong returns but also make a positive impact on the environment. Their approach to battery reconditioning and recycling sets a new benchmark in the automotive industry.”
Battery recycling and reconditioning are key components of the company’s “Go Recon Save The World” campaign, which aims to recycle batteries responsibly or reuse them. Through this effort, non-reconditionable batteries are treated by licensed smelters that have been recognized by the Department of Environment (DOE), supporting Bateriku.com’s worldwide warranty and after-sales programs.
According to Bateriku.com, this cash infusion is expected to accelerate the company’s growth throughout Southeast Asia and Malaysia, with Indonesia and Singapore being the first foreign markets it plans to expand into and replicate its cutting-edge business strategy.
About Bateriku.com
Bateriku.com began as an on-demand automobile battery replacement business and now connects car owners to roadside assistance, trustworthy workshops, auto parts marketplaces, and supplementary services.
