AntsBees offers RM4 million in bid to elevate tech start-ups
Tech-conglomerate centred in AI looks to cultivate a technology and innovation ecosystem as it gears towards IPO goal
KUALA LUMPUR, 16 August 2023 — Keeping an eye on the prize to becoming the market leader in the Industry 5.0, AntsBees Sdn Bhd — an artificial intelligence (AI) and robotics automation solutions provider — is offering funds of up to RM4 million for tech start-ups that want to see operational growth.
“We are keen to extend our expertise and platforms to start-up companies and extend financial aid to grow together. Having been in the market and enabling digital transformation for organisations, we would like to invest in or acquire new businesses related to Industry 4.0 and in doing so, further strengthen our position towards becoming a stronger tech-conglomerate,” said Dr Priscilla Prasena, Group Chief Executive Officer (CEO), AntsBees Sdn Bhd — IR 4.0 group of companies.
Established in 2012, AntsBees is no stranger to collaborating with start-ups and has a track record in having beneficial outcomes for both parties. One such example is its acquisition of PERPETUUTI which is an AI solutions provider. The five-year long collaboration has seen unquestionable growth.
“It is part of our company’s vision to create a technology and innovation ecosystem and we achieve this by helping organisations adapt to the evolving world around them through our innovative product suites and platforms,” Priscilla, who is at the helm of this mission adds.
She is also the CEO for Prestine International — a deliberate appointment as AntsBees takes a step forward to further develop its field of AI, digitalisation, and manufacturing programmes within the APAC region. There is also a vision to build an AI ecosystem which is aligned with AntsBees’ sustainable goal that is to provide a good technological infrastructure to the community at large.
“As this is the case, we tend to favour start-ups that are focused in the industries of education, health-tech or any field that could contribute to the AI technology ecosystem,” she says, elaborating her familiarity with organisational transformation helps with aligning the firm with a strategic pathway.
Currently positioned at a valuation of RM80 million, AntsBees has four subsidiaries — Prestine International, a learning and development arm of its parent company focusing on AI and Manufacturing Science skilled courses, Votratec, a technical and vocational education and training (TVET) college, PERPETUUTI and MYCoachingHub which is a sports analytics centre.
As part of its future plans, AntsBees is gearing towards being listed on the Ace Market Singapore Stock Exchange and the firm aims to use IPO proceeds to cover working capital, expansion ambitions and development needs.
“By going public, we believe there is much to gain. There would be better regulation of the company, increased liquidity, a higher level of confidence for our investors and naturally, much better visibility in the market.
“Achieving that benchmark will also enable AntsBees to have improved corporate governance, empower us to becoming more appealing to vendors and key stakeholders and armed with all these positive developments, we can align the business strategy with the streamlined internal and external processes,” she says, adding that AntsBees is also working towards setting-up its Asia Pacific (APAC) hub in Singapore by September 2023, and readying its headquarters in the United States of America by this October.
Priscilla adds that AntsBees has always been prepared to tackle challenges head-on in making its mark in the market and is determined to achieve all that it has set out to do.
“We pride ourselves in the value that we have brought and keep bringing to our customers; this is reflected in our strong financial muscle. We also have our Centre of Excellence and Research and Development Centre for AI skills that serve as a value proposition.
“As you can see, we do not take our business lightly and are always aligning ourselves to develop AI, digitalisation, and manufacturing programmes. We are rooted in our AI and Robotics Process Automation expertise and we have been proving success competing with larger technological giants. As we grow we will continue to prove ourselves — first within the APAC region, and then of course globally,” Priscilla concludes.
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