M’sia-based startup, Klean, ac­tively seek­ing funds for R&D

The Borneo Post - - BUSINESS -

SIN­GA­PORE: Klean, a Malaysi­abased startup, is ac­tively seek­ing funds to al­low fur­ther re­search & de­vel­op­ment ( R& D) and to launch its smart ma­chines across the coun­try, Sin­ga­pore and the rest of Asean.

It is cur­rently seek­ing to se­cure US$ 5 mil­lion ( US$ 1= RM4.04) in fund­ing.

Only re­cently, Klean par­tic­i­pated in Krungsri RISE, a Thai- based ac­cel­er­a­tor which is a col­lab­o­ra­tion be­tween Krungsri Bank ( Bank of Ayud­hya), Thai­land’s fifth largest bank and RISE, an ex­pert in startups.

The project aims to boost the coun­try’s econ­omy by bring­ing startups to Thai land and help them re­alise ideas and in­no­va­tions through train­ing and part­ner­ships with cor­po­rate and govern­ment agen­cies.

Krungsri is look­ing for startups who can plug in di­rectly to its busi­ness, while RISE aims to drive in­no­va­tion in Thai­land.

Krungsri RISE takes zero equity from the startups for its pro­gramme as the ul­ti­mate aim is to get them ac­cess to the Thai mar­ket.

“Asean needs the con­tainer de­posit scheme to tackle its plas­tic prob­lem. The fact that coun­tries within Asean are amongst the top plas­tic pol­luters in the world, shows that cur­rent ef­forts are sim­ply not work­ing,” Klean co-founder, Datuk Mo­hamad Arif Ab­dul­lah told Ber­nama.

“Klean has the so­lu­tion and is still ac­tively look­ing for funds so we can scale our busi­ness,” he added.

Klean had in June won the first Asean edi­tion of Pitch at Palace in Sin­ga­pore and was one of the six fi­nal­ists for Te­masek’s, The Live­abil­ity Chal­lenge.

Klean’s ecosys­tem ut i l ises a unique Malaysian- made smart re­v­erse vend­ing ma­chine (SRVM) with its own Klean op­erat ing sys­tem, an app and a wal­let that re­wards peo­ple for re­cy­cling empty poly­eth­yl­ene tereph­tha­late ( PET) bot­tles and alu­minium cans with an in­no­va­tive points scheme, which is re­deemable for re­wards such as pre­paid air time and dis­counts for trans­porta­tion rides, goods and ser­vices.

The comp a ny ’ s g r e at e s t achieve­ment to date is to team up with Hel­loGold to tackle gen­er­a­tional poverty.

By re­turn­ing bot­tles and cans, users can build up a gold port­fo­lio, al­low­ing poor peo­ple to save money us­ing read­ily avail­able waste.

They can even use this gold as col­lat­eral to se­cure a loan, start a busi­ness and in­crease sav­ings.

“Ed­u­cat­ing peo­ple on the im­por­tance of re­cy­cling alone is not enough. Peo­ple need to be inc ent ivi s e d to en­sur e be­havioural change. Klean’s unique re­ward sys­tem is the an­swer,” said Klean co- founder, Datuk Dr Nick Bo­den.

In Sin­ga­pore, Klean has teamed up with a lead­ing bev­er­age com­pany to start a proof of con­cept on a con­tainer de­posit scheme in the island state later this year. — Ber­nama

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.