FTV Labs Pte. Ltd. (KEGMIL), has secured SGD$2.2 million in a pre-Series A investment round, which was led by ME Innovation Fund L.P. and Origgin Capital. The funding round also saw participation from GHV Accelerator and GK-Plug and Play Indonesia.
KEGMIL is a cloud-based Field Service Management platform, provides companies with repair and maintenance services for mission-critical assets such as elevators, chillers, and other mechanical and electrical systems with the ability to automate and optimize their processes. The platform helps with scheduling, dispatch, execution, and reporting, making the management of repair and maintenance services more efficient.
The CEO of KEGMIL, Kelvin Ong, expressed his excitement about the investment and partnership with Mitsubishi Electric, a world leader in electrical and electronic equipment. He believes that with the increasing complexity of equipment and demand for technical services, the talent shortage and skills gap can be managed through technology.
With the fresh capital injection, the Singapore-headquartered company plans to accelerate its product roadmap and focus on key verticals such as construction, manufacturing, marine offshore, and renewable energy across Southeast Asia. The investment will allow KEGMIL to drive operational efficiency, improve service performance and revenue, and help companies retain tribal knowledge, thus reducing unnecessary on-site interventions.
For more information, please visit www.kegmil.com
Media Contact: Kelvin Ong, Co-Founder, and CEO, kelvin@kegmil.com
About KEGMIL
KEGMIL was founded with the mission of empowering millions of field service professionals in Southeast Asia with superior technology and insights to keep our world running safely and profitably. Our cloud-based field service management solution helps technicians, planners, and managers to automate job scheduling, dispatch, execution, and reporting to improve field visibility, productivity, and knowledge retention. We serve OEMs and independent technical servicing firms that undertake repair and maintenance of mission-critical assets across construction, manufacturing, logistics, marine, offshore, and renewable energy sectors. For more information, please visit www.kegmil.com
About ME Innovation Fund L.P.
ME Innovation Fund L.P. is a Corporate Venture Capital (CVC) fund jointly launched by Mitsubishi Electric Corporation and Global Brain Corporation. The fund targets new businesses creation through open innovation. In addition to financing, the fund will provide wide-ranging business knowledge and management support as well as technology, aiming to realize promising new businesses that can collaborate with Mitsubishi Electric to contribute to a more sustainable world.
About Origgin Capital
Origgin Capital is the Venture Capital arm of Origgin Ventures, Singapore’s first Deep-tech Venture Creator. Origgin focuses on the investment and commercialization of defensible patents from the universities and research institutes. Through the Venture Co-Creation approach, Origgin provides the initial capital and hands-on support to create deep-tech start-ups, guide them to initial success and create value for our stakeholders. Since 2017, Origgin has successfully spun-off more than 30 deep-tech start-ups from partner universities such as NUS, NTU, Harvard and ETHzurich.
About GHV Accelerator
GHV, a global investment & innovation company headquartered in Singapore and presence in Asia Europe and United States, works with disruptive companies such as FTV Labs Pte. Ltd. (KEGMIL), and accelerate them to achieve the suitable product market fit, scalable business model, and build strong IP’s globally. GHV has been working with several Japanese Enterprises for their strategic collaborations in India, such as Maruti Suzuki, Marubeni, NEC, NTTData among many others. For Digital Transformation of Enterprises leveraging Indian Innovation, JETRO (Japan External Trade Organization, a government-related organization that works to promote mutual trade and investment between Japan and the rest of the world), has partnered with GHV to expand Japanese Enterprise footprint for Asian innovation market.
About GK-Plug and Play Indonesia
GK-Plug and Play Indonesia is the Indonesian arm of Plug and Play, a venture capital investor and startup accelerator headquartered in Silicon Valley. They are committed to supporting startups through various programs, which include providing seed funding, mentorship, and links to big corporations such as Astra International, BNI, BTN and Sinarmas etc.
FTV Labs Pte. Ltd. (KEGMIL) is one of our portfolio startups in Plug and Play APAC. As an in-house venture capital, our goal is to fund the teams that are building the defensible businesses of the future. By leveraging our capital, our network of VCs, and our corporate partners, we give our portfolio companies an added advantage. Join our platform today!
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