Asia Mobiliti raises US$1.06mil pre-A funding to scale Mobility-as-a-Service in SEA

Asia Mobility Technologies Sdn Bhd, a leading mobility-as-a-service (MaaS) and Internet of Things (IoT) solutions provider, today announced the closing of a pre-series A investment round of US$1.06 million (RM5 million), valuing the company at close to US$10.55 mil (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, which has its roots in Sabah, and some 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 to deepen Asia Mobiliti’s MaaS and IoT technology stack, grow the team across engineering and business functions, and scale its market access to prepare for forays beyond Malaysia.

“We are extremely grateful for our investors’ confidence in our vision for the MaaS and transit IoT sector, which was ahead of its time when we founded the company in 2018,” said Ramachandran (Ram) Muniandy, co-founder and chief executive officer of Asia Mobiliti which he launched in 2018 with co-founder, Premesh Chandran who has since taken a back seat role.

“To raise a 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,”.