Malaysia-based media company Digital Media Nusantara today announced that it has secured an undisclosed Pre-Series A, from Malaysia Debt Ventures Berhad (MDV), a wholly-owned subsidiary of the country’s Ministry of Finance.
In a press statement, the company said that the funding will be used to accelerate its mission to become “Southeast Asia’s first fintech media firm, operating at the first mile of the financial markets infrastructure and market intelligence value chain.”
It will be used to support digital transformation across its portfolio of media companies including The ASEAN Post, Reimagining Southeast Asia, and Spotlights Labs.
Digital Media Nusantara will also use the funding to commence the development of Discovery Technologies, its ASEAN-focused financial markets infrastructure technology. Discovery Technologies is an advanced machine learning and AI-enabled capital markets analytics platform.
The company is currently working with teams in Singapore, India, and Europe to develop and launch the platform by Q1 2022.
The launch of this platform will play a key role in the company’s goal to become the region’s first fintech media firm while providing a new revenue stream for Digital Media Nusantara.
Digital Media Nusantara also stated that it will run an additional bridging round and a larger Series A funding round.
“Digital Media Nusantara’s mission is to bridge the data and information gap surrounding Southeast Asia’s capital markets. It is widely known and acknowledged across the region’s financial services industry and investor community that the lack of accurate, reliable, and structured data is impairing informed decision making and affecting the region’s competitiveness,” said Rohan Ramakrishnan, Founder and Managing Director of Digital Media Nusantara.
“Our objective from inception has been to solve this anomaly by aggregating data and streamlining it into actionable insights that can drive the region and its businesses forward. Digital Media Nusantara is focused on a solution, and we have an extremely experienced team on board to guide our progress and rise to the challenges that lie ahead. With MDV’s support we are now able to move on to the next stage of our development roadmap in time to play a critical role in the ASEAN Economic Community in 2025,” he added.
Digital Media Nusantara’s team included Ramakrishnan, veteran corporate leader Azizi Meor Ngah, venture capitalist ST Chua, TMT investment advisory expert Paul Zaman, PE specialist Khoo Eu Wen, public affairs expert and fellow World Economic Forum Young Global Leader Ng Yeen Seen, and public relations and media veteran Terence Stephen.
Image Credit: zairiazmal
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