In a recent statement, TAG La Technology Sdn Bhd, a company that focuses on helping people to find their misplaced item has successfully secured around RM 755,000 investment from nearly 10 investors through equity crowdfunding platform Crowdplus.Asia, making it Crowdplus. Asia’s tenth successful campaign so far. The fund was led by Cradle Fund Sdn Bhd, Malaysia’s early start-up influencer, incorporated under the Ministry of Finance Malaysia along with TBV Capital, a venture capital investment company that invests in e-commerce and software development companies across Southeast Asia.
TAG La was founded by 2 co-founders (Edison Lim & Max Chua) and bootstrapped their business with zero knowledge about technology and business, but with their strong belief in their product, they managed to work it out with validation from the market and, with their passion and hard work, sold more than 10,000 devices in the first year of operations.
Today, TAG La has enjoyed early success with over 40,000 TAG La users and approximately 50,000,000 brand impressions since the first launch. They have also been getting media attention on their company and unique product not only locally but internationally as well.
“At this stage, we are focusing on increasing our community base, so users get to help each other to retrieve their lost items in the shortest time. Of course, more fun features and products will be released from time to time to further enhance our offerings to our users”, said Edison Lim, CEO of TAG La Technology Sdn Bhd.
The next phase they are planning to utilise the fund by researching intelligence within the product, as well as their community base network. This including data analytics, AI and data science to understand their users better.
According to Andrew Tan, Managing Partner of TBV Capital, the Bluetooth tracker market and its technology are still at an early and fairly basic usage stage. As products improve, there’s scope for the location capabilities of Bluetooth tracking to be expanded. Smart location is an enormous opportunity and has the potential to become the most valuable application for connected devices with the networked of Internet of Things (IoTs).
Max Teh, CEO of Crowdplus.Asia, sees good potential in the company driven by two passionate founders. “We lose things frequently, and TAG La has found an interesting proposition that helps us stop worrying about that by using technology. They have further proven themselves in the market as evident in the traction gained so far”.
Juliana from Cradle believes that TAG La has the right formula. “Simple as it may sound, it addresses the everyday need of the masses, which is tracking our most important items such wallets and keys. Their product roadmap also explores other features that I’m excited about. And most important, we really believe in the two founders, Edison and Max. Their grit, intuition and hard work are simply impressive.”
Equity crowdfunding, which is gaining ground in Malaysia’s fund raising scene, allows businesses to leverage various digital platforms and social media to efficiently raise capital. The Securities Commission Malaysia was the first in ASEAN to introduce equity crowdfunding guidelines, and CrowdPlus.asia, is proud to be one of its registered operators.
Source: http://focusmalaysia.my/Snippets/tag-la-raises-rm-755k-funding-via-crowdplus-asia