Digital Media Nusantara, a Malaysian media firm, has received an undisclosed Pre-Series A investment from Malaysia Debt Ventures Berhad (MDV), a wholly owned subsidiary of the country’s Ministry of Finance.
The money will be used to help the company achieve its goal of being “Southeast Asia’s first fintech media enterprise, working at the first mile of the financial markets infrastructure and market intelligence value chain,” according to a news release.
It will be used to assist digital transformation across The ASEAN Post, Reimagining Southeast Asia, and Spotlights Labs, among its portfolio of media firms.
The funds will also be utilized by Digital Media Nusantara to start developing Discovery Technologies, its ASEAN-focused financial markets infrastructure platform. Discovery Technologies is a capital markets analytics platform that uses sophisticated machine learning and artificial intelligence.
To build and launch the platform by Q1 2022, the business is collaborating with teams in Singapore, India, and Europe. The introduction of this platform will help Digital Media Nusantara achieve its aim of becoming the region’s first financial media company while also offering a new income source.
Digital Media Nusantara has announced that an additional bridge round, as well as a bigger Series A financing round, will be held.
“Digital Media Nusantara’s mission is to bridge the data and information gap surrounding Southeast Asia’s capital markets. It is widely known and acknowledged across the region’s financial services industry and investor community that the lack of accurate, reliable, and structured data is impairing informed decision making and affecting the region’s competitiveness,” said Rohan Ramakrishnan, Founder and Managing Director of Digital Media Nusantara.
“Our objective from inception has been to solve this anomaly by aggregating data and streamlining it into actionable insights that can drive the region and its businesses forward. Digital Media Nusantara is focused on a solution, and we have an extremely experienced team on board to guide our progress and rise to the challenges that lie ahead. With MDV’s support we are now able to move on to the next stage of our development roadmap in time to play a critical role in the ASEAN Economic Community in 2025,” he added.
Ramakrishnan, Azizi Meor Ngah, ST Chua, TMT investment advice expert Paul Zaman, PE specialist Khoo Eu Wen, public affairs expert and fellow World Economic Forum Young Global Leader Ng Yeen Seen, and public relations and media veteran Terence Stephen made up Digital Media Nusantara’s team.