Newswav, a Malaysia-based content aggregator, secured US$1.47 Million (RM6 million) in a Series A funding led by OSK Ventures International Berhad.
OSK Ventures International Berhad was first established in 2000.
They would provide equity and debt capital as investments to early start-ups and late-stage high-growth companies in the Southeast Asian region.
According to a blog released by Newswav, they would utilize the funds to:
- Increase user acquisition
- Solidify their position in the content aggregation space
- Diversify their revenue streams
- Expand their creator platform
“Content consumption patterns and preferences have expanded significantly over the past decade and were further accelerated as a result of the pandemic. We see various changes from the type of content that users are consuming to the amount of time they spend online, especially on their mobile devices,” Newswav commented regarding the recent funding.
Newswav has also accumulated various investors in their journey which includes:
- BFM Capital
- YYC Group
For further news regarding Malaysia-based startups, check it out here.