CLLA Start-ups Register Over RM36 Million in Investment Interests During Demo Day
Article reposted from BERNAMA. View the original article here
Seven start-ups under the Cyberview Living Lab Accelerator (CLLA) Cohort 18 program during the Demo Day at RekaScape, Cyberjaya, on 15 May 2024.
KUALA LUMPUR, June 10 (Bernama) -- Seven start-ups from the 18th Cohort of the Cyberview Living Lab Accelerator (CLLA) programme registered more than RM36 million investment interests and over 30 partnership interests from investors recently.
The start-ups were MengajiOnline.com, NexoPrima, MindnRobotics, SOLVNEX, Smartpeep, Bual Design, and BriqBloq.
In a statement today, programme organiser Cyberview Sdn Bhd said the interest came from investors, funding agencies as well as Seven start-ups under the Cyberview Living Lab Accelerator (CLLA) Cohort 18 program during the Demo Day at RekaScape, Cyberjaya, on 15 May 2024.
“The current cohort focuses on offering digital and data-centric solutions for smart and green living, leveraging technologies such as artificial intelligence (AI), industrial Internet of Things (IoT), and robotics,” the technology hub developer said.
Meanwhile, Cyberview chief executive officer Kamarul Arifin Abdul Samad said the CLLA programme is a well-established platform to uplift homegrown start-ups and companies to develop and commercialise their innovative ideas.
Kamarul Arifin Abdul Samad (pix), Chief Executive Officer of Cyberview, said,
"“With the recently announced KL20 Action Paper looking to further encourage start-up growth, we look forward to working with the government and relevant stakeholders to establish a larger collaborative ecosystem to help our Malaysian innovators expand regionally and globally,”
Kamarul Ariffin also quoted Digital Minister Gobind Singh Deo, who said 23 per cent of Malaysia’s economy was driven by digital.
Start-ups and the tech sector will play a significant role in the MADANI Economy Framework, announced in 2023 with the provision of RM1 billion funding to support local start-ups.
Kamarul Ariffin added that Cyberview recently worked with HFU Capital for the organisation of the Hunt for Unicorns International Venture Capital and Investment Forum - Cyberjaya Edition, together with Cradle Fund Sdn Bhd as the ecosystem partner.
During the forum, companies from Malaysia and China pitched for possible funding from venture capital, angel investors and private equity firms from China, Taiwan, Hong Kong, Singapore, Indonesia, Cambodia, and Malaysia.
Tigasfera Sdn Bhd and Alphaswift Industries Sdn Bhd were among the top five startups which received investments valued at RM40,000 each. Both companies were part of the Cyberview Living Lab initiative.
“We look forward to having more events like these, as collaborations such as these are exactly what is needed to close the loop on efforts made to create a thriving start-up and venture capital ecosystem in Cyberjaya,” he said.
CLLA is hosted annually alongside ecosystem partners such as Cradle Fund, Malaysia Digital Economy Corporation and Malaysia Debt Ventures Bhd.
Since its inception in 2013, the programme has helped start-ups to raise over RM252 million in total investments and more than RM775 million in cumulative revenue. These start-ups have collectively impacted the economy by creating more than 1,400 jobs.
Cyberview is looking out for start-ups with innovative products and solutions, in the areas of Smart Mobility, Smart Healthcare and Digital Creative to join the next cohort.
