Antler announces largest pre-seed investment round in Southeast Asia, including Malaysia

KUALA LUMPUR: Antler yesterday announced its largest pre-seed investment round to date in the region, committing US$5.1 million (RM24.2 million) to 37 startups across Southeast Asia, including Malaysia.

In a statement, the early-stage venture capital firm said the investment also marked Antler’s initial commitment and footprint in Malaysia as part of its strategic partnership with sovereign wealth fund Khazanah Nasional Bhd.

Antler Malaysia associate partner and country head Frank Kang announced that the company is backing seven startups from the Antler Malaysia cohort, namely Cleve, COEX, MessengerCo, PingMi, Seafoody, UniiD, and Zappy.

Antler said this round also marks the highest number of pre-seed deals completed in a single round in the region, demonstrating Antler’s commitment to backing the next generation of Southeast Asian tech entrepreneurs, it added.

It said the diverse portfolio of startups spans 19 sectors ranging from artificial intelligence and business-to-business ‘Software as a Service’ (SaaS) provider to fintech and healthcare to address specific regional challenges.

Antler co-founder and managing partner Asia Jussi Salovaara said the company recognises the immense potential of early-stage startups in Southeast Asia. “At this pivotal moment, we are laserfocused on helping founders establish a robust foundation for sustainable business models and fostering long-term innovation within the broader global tech ecosystem,” he added.

With a record number of over 5,000 applications in this round, Antler has consistently backed over 1,000 startups across the world since its launch in 2018.