Soundwave-based technology solutions provider VAV Apps Sdn Bhd has secured $556,917 (MYR2.5 million) in funding from Axiata Digital Innovation Fund (ADIF). The amount would be used for technical deployment and commercialisation of VAV’s solutions in Malaysia.
“In addition, VAV also plans to use the funding to further explore overseas markets including China,” the company said, in an announcement on Thursday.
This funding follows a grant of $111,383 (MYR500,000) from Cradle Fund Sdn. Bhd programme of CIP 500, earlier last year and another $111,383 raised in 2015 from Unit Peneraju Agenda Bumiputera (TERAJU) under their Superb Grant.
Founded in 2015, Kuala Lumpur-based VAV focuses on developing technology solutions that are based on inaudible sound waves to transmit digital content to smartphones – a new alternative for any organisation to engage with their audiences or consumers.
For instance, a television company can embed VAV’s product, VAV Tone, into their programmes to set call-to-actions on viewers’ smartphones during air time. The broadcaster can invite viewers to vote in a song contest programme as well as notify them of promotion deals from their advertisers or any customised message of their choice.
“Through VAV applications, businesses will be able to optimise their promotional and advertising campaigns as well as be able to track campaign results and measure their impact on a real-time basis,” VAV Executive Chairman Wan Kamarul Zaman Wan Yacob said on the funding.
The company introduced its VAV plug-ins in 2016 which allow vendors and service providers to embed the VAV software development kit (SDK) into their own mobile apps, an area the company wants to to concentrate on going forward. The funding from ADIF helps support this mission too.
Axiata’s digital fund, managed by Intres Capital Partners, believes that with the investment and partnership VAV would be able to take its first steps to go regional with its innovative media technology and solutions.