Gobi Superseed II Fund (Gobi SSII Fund), operated by Malaysia and Hong Kong-based Gobi Partners, has announced investments in four Malaysian startups.
They are the Islamic-themed streaming service Durioo+, Lapasar, Paywatch, and pitchIN.
A sneak peek at the four companies:
Durioo+
The Islamic-themed subscription-based streaming service Durioo+ was launched in February 2022 to showcase high-quality Islamic and kid-friendly content. It showcases Durioo+ Originals, Islamic cartoons and kid-friendly content worldwide.
In ten months, the platform claims to have gained over 20,000 subscribed users and is airing more than 1,600 episodes of content thus far.
In the next five years, the company plans to enter the global market – specifically the US, the UK, MENA, Indonesia, Europe and South Asia countries.
Also Read: Why Gobi Partners believes it is the right time to invest in Pakistan
Durioo+ aims to collaborate with other local and foreign animation studios, production houses and game companies to produce more content and games.
Lapasar
Launched in 2018, the B2B e-commerce marketplace distributes fast-moving consumer goods (FMCG) for general trade. It has served over 10,000 SMEs nationwide through its warehousing, distribution and financial services capabilities.
Lapasar transformed into a wholesale procurement platform for small retailers in June 2020, and it grew 172 per cent year-on-year in 2021 and above 100x since its first funding round.
Paywatch
An earned-wage access (EWA) solution, Paywatch helps employees bridge cash flow gaps between paychecks.
Its EWA service is being used by notable companies in Malaysia, such as Lotus’s, KFC, Pizza Hut, QSR Brands, Wilmar and Kenny Hills Bakers.
Also Read: Malaysian earned wage access startup Paywatch bags US$9M for Philippines, HK expansion
Paywatch has grown its product offerings and strengthened its presence in Malaysia, South Korea, and Hong Kong. It also accelerates expansion efforts into new Southeast Asian markets, including Indonesia and the Philippines.
pitchIN
It is an online investing platform established in 2016. To date, it has raised over US$65 million (RM280 million) on its equity crowdfunding (ECF) platform from over 7,600 individual investments made by retail and sophisticated investors to help fund 154 of Malaysia’s fast-growing companies.
pitchIN will launch its Secondary Market and Initial Exchange Offering (IEO) platforms this year following the Securities Commission Malaysia (SC) approval in 2022. It also received approval from SC to list Shariah-compliant campaigns on the ECF platform.
The Gobi Superseed II Fund targets early-stage (seed, pre-Series A and Series A) technology-enabled local startups operating in segments such as AI, Big Data, cloud, e-commerce, fintech, IoT, and Halal economy.
Since its launch in late 2020, it has also invested in four other Malaysian startups: Sunway Innovation Labs, TechNode, Speedhome and PolicyStreet.
Gobi’s Malaysia Managing Partner Jamaludin Bujang said: “We continue our efforts to help spur the growth of entrepreneurs, especially startups and SMEs, in the local ecosystem during a challenging time for the Malaysian economy, as evidenced by our latest investment into these four companies under the Gobi SSII Fund.”
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