Malaysia-based startup incubator Nexting Ventures has announced its official launch along with 1.6 million ringgit ($380,000) funding raised from angel investors.
Founded in 2017 by six founders, Nexting Ventures focuses on “impact living”, by providing convenient, user-friendly and practical solutions in terms of their products and services for the next generation.
This year, it claims to have evolved into a multi-platform business solutions provider. It has grown its team for six to 40 people this year, and recently expanded its operations to Ho Chi Minh City, Vietnam.
“Malaysia, with its strategic location and diverse culture, a nation with a rapid-growing ecosystem that has much to offer the world. With that, we would like to seize the potential and opportunity of technology, talents and innovation to redistribute opportunity in the community and society in which we live,” said its CEO Sophia Tey.
Nexting Ventures has also developed four startups so far – proptech startup Lifyn Co, team building startup Vision Building, media production startup Next Picture and home living startup Pinnacle Living.
According to its chief business development officer Penny Leong, Nexting Ventures looks into four main sectors, which are proptech (tenant management and co-living apps), services (corporate advisory and management, mobile app development, commercial and wedding production), media and content creation as well as human capital (team and youth building).
On Vietnam, Leong said it is a fast-growing market in Southeast Asia. “We have penetrated into the home and living segments as it is every household’s need. We have [also] observed robust growth in the property development sector in Vietnam.”
Going forward, Nexting Ventures plans to incubate ten projects worth about 10 million ringgit ($2.39 million).