Cambodia-focused Smart Axiata fund invests in Okra Solar, Sousdey

Sousdey Cambodia.

Phnom Penh-based Smart Axiata Digital Innovation Fund (SADIF) on Tuesday announced investments in solar energy software company Okra Solar and Sousdey Cambodia, an enterprise solutions platform for customer relationship management.

SADIF is a $5-million fund established in 2017 by Smart Axiata and investment and advisory firm Mekong Strategic Partners (MSP). With the latest investments, the fund has so far invested in six tech companies in Cambodia.

Okra is an Internet-of-Things (IoT) company that helps rural communities living in off-grid areas get access to affordable solar technology. Its software enables solar panels and batteries to be connected into smart microgrids and allows power distributors to remotely control and monitor the systems on a real-time basis.

Since its inception in 2016, Okra claims it has provided services to more than 100 households in Cambodia. The company has also signed an MoU with an infrastructure investment fund to help with access to electricity in the Philippines.

Sousdey Cambodia claims to be one of the first movers in the local market developing Facebook Messenger chatbot services and Khmer natural language processing services on an AI-based platform.

Launched in 2017, the company claims to have served 800 corporates and SME clients.

SADIF typically invest between $25,000 and $500,000 in each investee company in sectors such as financial technology, digital commerce, entertainment, social media, advertising, education and healthcare.

Its other portfolio companies include delivery startup Joonak Delivery, cloud-based financial software company Morakot Technology, food and grocery delivery startup Nham24 and Agribuddy, which helps farmers with asset management support services.

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