Malaysia-based Newswav, a content aggregation platform, has raised 6 million ringgit (US$1.4 million) in its series A round led by OSK Ventures International.
Newswav team / Photo credit: Newswav
Founded in 2017, Newswav is a politically independent news aggregator that provides content in three languages including English, Malay, and Chinese. It has partnered with nearly 200 content partners like The Sun Daily, SCMP, Malay Mail, and The Edge, among others.
The content firm was founded by Swee Wai Hoow, who also founded mobile commerce marketplace SnapSell, as well as Yap Zhi Chau, group executive chairman of YYC Advisors.
“The disruption happening in the news and media industry will accelerate for the rest of this decade,” said Ng Kay Yip, co-founder of JobStreet and an early investor in Newswav.
Currently, the company’s mobile apps and website record over 15 million average monthly visits. It has also posted 3x revenue growth in 2021, compared to the previous year.
Newswav, which is backed by BFM Capital and YYC Ventures, will use the fresh funds to acquire more users, expand creators’ platforms, and scale up in-house adtech capabilities, among other things.
See also: A list of fundraising startups from Asia (Updated)
Currency converted from Malaysian ringgit to US dollar: US$1 = 4.18 ringgit.
Editing by Deepti Sri and Jaclyn Tiu
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