VE Technology Group CEO Loh June Yong
Singapore-based enterprise tech ecosystem VE Technology Group has announced a S$30 (US$22) million funding round led by alternative investments firm Mox Capital.
The company will utilise the capital to expand into Southeast Asia in preparation for an upcoming IPO listing for the group and its subsidiaries in 2024.
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Founded in 2019, VE Technology Group operates a unified ecosystem of B2B enabling enterprises and digital solutions. The network brings together over 15 acquired subsidiaries specialising in delivering end-to-end business solutions across artificial intelligence (AI), Internet of Things (IoT), cybersecurity, robotics, software development, and business consultancy.
Its portfolio currently includes the likes of Corsiva Lab, Web Imp, and Sellstream.
The group is also actively navigating the intersection of traditional enterprise solutions and emerging Web 2.5 trends. This shift resonates with Mox Capital’s work in nurturing technological innovators in the region.
“The B2B SaaS is currently the fastest-growing market globally, especially in Southeast Asia. This is a clear indicator of the transformative opportunities of B2B-enabling tech — and the reason why this fundraising round represents more than just capital. It embodies our investors’ trust in our vision to empower the next generation of small-and-midsize businesses (SMBs), connected in what will become the region’s largest Web 2.5 technology ecosystem of high-potential digital solutions,” said Loh June Yong, CEO of VE Technology Group.
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The group claims to have recorded 100 per cent year-over-year growth since its inception in 2019.
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