Asia Mobility Technologies Sdn Bhd (Asia Mobiliti), a mobility-as-a-service (MaaS) and Internet of Things (IoT) solutions provider, announced the closing of a pre-series A investment round of RM5 million ($1 million), valuing the company at close to RM50 million.
The round is led by an existing investor DVE Sapta Sdn Bhd with participation from infrastructure asset management company Gamlite IT (M) Sdn Bhd and private investors.
The pre-series A round follows previous seed funding rounds in 2019 and 2020 that saw investments from DVE Sapta and AirAsia Digital – the venture arm of AirAsia, who saw the early potential of mobility-as-a-service in the region.
The funds will be used by Asia Mobiliti to deepen its MaaS and IoT technology stack, grow the team across engineering and business functions, and scale its market access to prepare for forays beyond Malaysia.
Founded in 2018 and based in Kuala Lumpur, Malaysia, Asia Mobiliti is a mobility tech startup with a mission to enable intelligent transit and mobility for the developing world.
The startup adopts a technology platform approach with a core software-defined engine that is capable of spawning different scalable solutions depending on the needs of our clients.
These solutions encompass Internet of Things (IoT) enabled advanced telematics, machine learning-based mobility-as-a-service technology, as well as a wide variety of transit technologies, such as demand-responsive transit, transport analytics, condition monitoring for rail and road and account-based ticketing and payments.
“To raise pre-series A funding under the present market conditions is not only a validation of the work we’ve been doing but gives us a competitive edge to develop solutions to address increasingly challenging mobility problems faced by Malaysia and other Southeast Asian countries,” said Ramachandran Muniandy, co-founder and chief executive officer of Asia Mobiliti.
Asia Mobiliti started up with a vision to enable the digitalisation of transport with a unique mobility platform that integrates IoT and telematics with journey planning, and spawning innovative data-driven and AI solutions for the transit and mobility ecosystem.
The company’s goal is to enable mobility-as-a-service at scale across the emerging market regions.