Beyond Ventures leads $3m investment in HK-based indoor mapping platform Mapxus

Justin Chin/Bloomberg

Hong Kong-based venture capital firm Beyond Ventures on Tuesday announced that it has led a $3 million investment in Mapxus, an indoor mapping service provider.

Mapxus solutions produce digital and panoramic indoor maps to facilitate a cross-platform indoor-positioning capability.

The startup will invest the fresh capital in research and development (R&D), sales, marketing and operational functions as well as for expanding to Singapore, Japan, Taiwan, Thailand, Malaysia and the Philippines.

“We have a clear vision of how to create a smart city by working closely with government bodies, shopping malls, transport utilities, hospitals, and other entities. The idea is to facilitate the creation of a barrier-free smart city and catalyze a variety of stakeholders to develop meaningful mobile applications that will solve problems for people with, and without, disabilities,” Mapxus founder and CEO John Chan.

The startup also integrates technologies, including universal WiFi-fingerprinting, sensor fusion and artificial intelligence (AI) to develop smart city solutions for citizens.

“The software-based infrastructure and hardware-free solutions crafted by Mapxus are able to bring together an indoor mapping community of government bodies, commercial organizations and social enterprises. The way the company already harnesses the capabilities of existing Wi-Fi infrastructure is able to reduce deployment costs by up to 90 per cent,” Lap Man, Co-Founder and Managing Partner of Beyond Ventures, said in a statement.

Beyond Ventures was founded in 2017 by Hong Kong VC firm e-Garden Ventures, several local serial entrepreneurs and Chinese-based investment firm Hony Capital, which manages more than $10 billion in assets.

The VC firm has invested 240 million yuan ($35.8 million) across 13 companies including Chinese food delivery management startup Candao, Chinese AI startup SenseTime, DNA-testing startup Prenetics, CMOS chipmaker SmartSense Tech, taxi-hailing app HKTaxi and e-commerce platform YOHO.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.