Global venture capital firm Antler has announced its largest pre-seed investment round to date, committing an impressive US$5.1 million (RM24.2 million) to 37 startups across Southeast Asia (SEA), with a particular focus on Malaysia. The round sets a new regional record for the highest number of pre-seed deals in a single funding round, underscoring Antler’s dedication to supporting the next generation of tech entrepreneurs in the SEA region.
Antler’s diverse portfolio spans 19 sectors, addressing specific regional challenges in AI, B2B SaaS, fintech, healthcare, and more. The strategic investment also marks Antler’s entry into Malaysia, solidifying its commitment through a strategic partnership with sovereign wealth fund Khazanah.
Jussi Salovaara, Co-founder and Managing Partner Asia of Antler, expressed the firm’s recognition of the immense potential in early-stage startups in Southeast Asia. Particularly drawn to pre-seed investments, Salovaara highlighted the focus on verticalized AI and Industry 4.0 startups, addressing fundamental challenges and revolutionizing how data translates into tangible products.
Antler’s commitment to Malaysia is evident in its backing of seven startups from the Antler Malaysia cohort. The selected startups include Cleve, COEX, MessengerCo, PingMi, Seafoody, UniiD, and Zappy.
Key Investment Trends:
- Verticalized AI: Antler anticipates a second wave of AI startups in 2024, with a focus on building durable businesses tailored to specific industries. Notable startups in this category include ReelBlend, EigenAI, RapidaAI, and Lunash.
- Industry 4.0: As Industry 3.0 technologies expand beyond manufacturing, Antler is investing in startups applying core principles like interconnectedness, data-driven decision-making, and automation across sectors. COEX, Dash Electric, UniiD, and AssetFindr are among the startups in this category.
- Hyperlocal Solutions: Antler identifies startups developing products catering to hyperlocal needs in Southeast Asia while maintaining global scalability potential. Startups like BorderDollar, Mailpass, Hybr1d, and MessengerCo exemplify this trend.
With a record-breaking 5,000 applications in this round, Antler continues its legacy of backing over 1,000 startups worldwide since its launch in 2018. The strategic investments signify not only Antler’s confidence in emerging tech trends but also its commitment to fostering innovation in the rapidly growing Southeast Asian tech ecosystem.
