VentureTECH invests RM28 mil in three Bumiputera tech companies

By-The Edge Malaysia

PUTRAJAYA (Aug 13): VentureTECH Sdn Bhd has invested RM28 million in three Bumiputera-led technology companies, with the investments targeting industrial automation, healthcare technology and digital accessibility.

The three companies, Move Robotic Sdn Bhd, Recove Group Sdn Bhd and Edote Sdn Bhd, signed investment agreements with VentureTECH at a
ceremony held at Pulse Grande Hotel here on Wednesday (Aug 12).

VentureTECH chief executive officer Azizan Jaafar said the companies were selected for their technology offerings, commercial potential and ability to address practical challenges in their respective sectors.

“At VentureTECH, we invest in companies with innovative technologies that solve real-world challenges, strengthen strategic industries and have the potential to scale sustainably,” he said in a statement published Thursday.

He said VentureTECH would also work with the companies beyond providing capital, including helping them strengthen their capabilities and identify new markets.

The investment in Move Robotic will support its warehouse and logistics automation business, which combines autonomous mobile robots, automated storage and retrieval systems, pallet shuttle systems and its own warehouse management and robot fleet management software.

The company also offers its automation solutions under a Robot-as-a-Service subscription model, allowing customers to use the technology without making a large upfront investment. It aims to become the first Malaysian provider of a fully bundled Robot-as-a-Service offering.

Recove, meanwhile, focuses on commercialising healthcare technologies developed through research partnerships with universities, researchers and medical specialists.

It has commercialised NEORUBIN, a non-invasive device for newborn jaundice screening, and has several other medical technologies in its development pipeline.

VentureTECH’s investment will support Recove’s efforts to bring more locally developed medical technologies to hospitals and healthcare providers.

Edote focuses on assistive technology for the visually impaired and developed eBrelle, which it describes as the first standalone Braille laptop in Malaysia and Southeast Asia.

The investment will support the company’s manufacturing expansion and development of its product portfolio.

The signing ceremony was witnessed by VentureTECH chairman Datuk Khalilur Rahman Ebrahim, Malaysian Industry-Government Group for High
Technology (MIGHT) president and chief executive officer Rushdi Abdul Rahim, Ministry of Economy Equity Development Division deputy director 2 (Bumiputera Development) Hisham Kamal Othman Kamal, and Ministry of Science, Technology and Innovation Strategic Planning Division under-secretary Rafea’ah Nahar.

VentureTECH is a wholly owned subsidiary of MIGHT that provides equity investment to support Bumiputera companies operating in high-growth, high-value industries. -theedgemalaysia.com