Wednesday, April 24, 2024
HomeFunding Malasiya-Based Bateriku.com Secures $2.11 Million in Funding

[Funding Alert] Malasiya-Based Bateriku.com Secures $2.11 Million in Funding

Bateriku is creating a digital marketplace (B2C) and an inclusive automobile ecosystem platform (B2B). In a statement released on Monday, Bateriku stated that this agreement will enable Bateriku.com to further its objective of revolutionizing the roadside assistance sector by establishing an ecosystem that links Battery, Breakdown, “Bengkel”, and Bazaar.

In order to expand its connected roadside assistance services, government-backed impact investment companies VentureTECH Sdn. Bhd. and VentureTECH SBI Sdn. Bhd. have contributed MYR 10 million ($2.11 million) to the Malaysian roadside assistance company Bateriku (M) Sdn. Bhd. (Bateriku.com).

Read also – Singapore-Based Ailytics Raises $2.7Million in Funding

As per the statement, MYR 3 million ($630,000) and MYR 7 million ($1.48 million) have been allocated by VentureTECH and VentureTECH SBI, respectively, to furnish Bateriku.com with the necessary resources to augment its technology infrastructure, broaden its range of services, and expand its operations to cater to the increasing demand for effective roadside assistance solutions.

Bateriku.com claimed that with this investment, it is in a strategic position to leverage innovation, optimize processes, and create hitherto untapped value for stakeholders and customers alike.

Read also – Saudi-based Edtech HAD Secures $ 5 Million in Pre-seed Round Funding

This calculated move further demonstrates Bateriku.com’s dedication to fostering technological innovation and efficiency by fine-tuning every facet of its business operations to consistently provide outstanding service and surpass expectations.

“We are excited to join forces with VentureTECH and VentureTECH SBI to accelerate our vision of redefining roadside assistance services by connecting the Battery, Breakdown, “Bengkel” (car workshops) and Bazaar (auto parts marketplace) verticals into a seamless experience for vehicle owners, “This strategic investment will enable us to scale our operations, expand our reach, and further enhance the customer experience,” said Azarol Faizi, Chief Executive Officer of Bateriku.com.

A wholly-owned subsidiary of SBI Holdings, Inc. Japan, VentureTECH SBI is a joint venture fund management business of VentureTECH and SBI Ventures Malaysia Sdn Bhd.

The company makes strategic investments in Southeast Asia, primarily in Malaysian privately-owned businesses that are involved in high-value-added industries and emerging technologies like biotechnology, fintech, greentech, and information and communications technology (ICT).

About Bateriku.com

Bateriku is creating a digital marketplace (B2C) and an inclusive automobile ecosystem platform (B2B). The ultimate goal is to offer all auto owners a complete vehicle ownership experience, including servicing, parts, and roadside support.

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular