Spurred on by the pandemic over the last two years, warehouse automation has become a hot topic around the world. Woodtrees Sdn Bhd, a warehouse automation solution provider platform, has just recently secured its first private placement worth RM 2 million from angel investor, Max Capital Management Holding Ltd (MCM). Both companies have also inked a Memorandum of Understanding (MoU), to transfer shares to MCM, with the value of RM1.00 per RCPS.
Proceeds from the funding round will be used to support Woodtrees’ overseas business expansion to the Southeast Asian region, namely Thailand, Vietnam, Indonesia, Philippines, Singapore and also China. The funds will also be directed towards its research and development efforts to develop newer and more innovative solutions for the warehousing industry. In addition to this injection from MCM, the company is still in the midst of securing further investment interests, from other angel investors and venture capitalists in the region, while actively conducting an equity crowdfunding (ECF) campaign, targeted to raise another RM5 million.
Commenting on the recent funding received, Gan Soon Kiat, founder and Managing Director of Woodtrees said, “Compounded by the Covid-19 pandemic, we have been witnessing an increasing demand for warehouse automation solutions. The technology is proving to be a defining factor that separates innovators from stagnant businesses. We are glad to be in partnership with a global project management consulting firm such as MCM, that shares our vision for continued investment and growth, providing us the opportunity to expand our solutions to wider markets.”
Soon Kiat further added “With this injection of funds from our first ever angel investor, we are now more confident in our future orientation and plans in expanding our operations to overseas markets. In line with the increase in demand, the competitive pressure in this industry has vastly increased. Moving forward, we look to ensure our offerings would always meet customers’ expectations, while fulfilling their financial objectives.
Since its inception in June 2021, Woodtrees has been working towards driving the automation wave in Malaysia’s warehousing sector. With this fresh injection of funds, the Company aims to develop even more effective solutions designed to lower costs even more and improve business performance.
“The warehouse industry has been rapidly booming worldwide. It is crucial for warehouses to have a proper and reliable WMS system. It is the way of the future. We are proud to be in partnership with a local and young company such as Woodtrees. Their impressive experience and track record since its founding has been massively impressive, and we are more than happy to back them up and support them in their future direction. I truly foresee Woodtrees growing rapidly in the near future, leading the warehouse automation industry in Southeast Asia,” said Adj. Prof. Ts. Maxshangkar, Group CEO of MCM.
