Malaysian startup accelerator Nexea invests in 5 local startups

Malaysian startup investment firm Nexea has invested a total of 250,000 ringgit (US$60,200) in five local early-stage startups.

Photo credit: Nexea

The five startups, which participated in the Nexea Startup Accelerator and Startup-Corporate Pilot programs, each received 50,000 ringgit (US$12,000) from Nexea angel investors, according to a statement.

The annual Nexea Accelerator Program aims to provide very early-stage startups with pertinent workshops and extensive mentorship. Nexea said that it works with entrepreneurs who are or have been chief executives with experience in initial public offerings and mergers and acquisitions to serve as mentors under the program.

The firm’s Startup-Corporate Pilot, on the other hand, looks to connect local tech startups and corporations for possible collaborations. It is held in partnership with major organizations, namely Digi, Help University, Rhombus Connexion, and Spritzer.

According to a statement, Nexea has received over 150 applications for the two initiatives.

Here are the five startups that received funding from Nexea:

• Hauz is a workforce management startup that offers an automated solution to streamline workforce management processes for finance and operations.
• Lokein is an online marketplace offering a wide range of vintage items including clothing, furniture, and electronics.
• Krenovator is a learning platform that provides small and large corporations with online content and training modules.
• Prepay is an online escrow platform acting as an intermediary between buyers and sellers.
• Reemedy is an online multi-vendor medical supply marketplace.

Nexea has invested in a total of 16 companies over the accelerator program’s last four rounds, according to the statement.

The company said it has started planning for next year’s multi-corporate accelerator program, holding talks with potential partners.