Malaysian AI solutions company NEUON AI receives strategic investment from Hartamodal
NEUON AI Sdn Bhd, a Sarawak-based artificial intelligence (AI) solutions company that has successfully commercialized cutting-edge AI technology across numerous high-impact sectors, has received a strategic investment from Hartamodal Sdn Bhd, the Malaysia-based venture capital (VC) division of boutique asset management firm Tradeview Capital.
The investment in NEUON AI is being made through Hartamodal’s first fund, the MYR 70 million ($17.88 million) Dana Impian fund, the company said in a statement on Wednesday.
NEUON AI, a seasoned, scalable platform company with demonstrated commercial traction, was founded in 2018 by three Sarawakian technologists with extensive academic backgrounds in AI research: Dr. Chai Kok Chin, Marcus Chai Koh Kiong, and Dr. Chang Yang Loong.
Government organizations, such as Jabatan Kerja Raya Sarawak (JKRS), are currently actively implementing the company’s flagship AI solution, ROADPLUS, a computer vision-powered road asset management platform.
“Securing institutional venture capital backing from Hartamodal represents a pivotal milestone in NEUON AI’s growth trajectory,
“By partnering with Hartamodal, whose expertise and long-term fundamental investment approach align closely with our mission, we are accelerating the delivery of home-grown, world-class AI solutions that will redefine Malaysia’s most critical sectors,” said Dr. Chai Kok Chin, Co-Founder and Chief Executive Officer of NEUON AI.
NEUON AI, a seed grant-supported graduate of the Sarawak Digital Economy Corporation’s (SDEC) Digital Village Accelerator (DiVA) program, has also demonstrated successful deployments with significant government organizations, such as Institut Sukan Negara (ISN) and Sarawak Forestry Corporation (SFC).
“KC and the team excel at translating highly sophisticated academic AI research into real-world, high-impact solutions for the everyday economy at scale,
“Their proprietary technology applications in road asset management, forestry preservation, and sports science clearly demonstrate this capability,” said Tan Cheng Wen, Executive Director of Hartamodal.
Three technology startups have received investments totaling MYR 15 million ($3.83 million) from Hartamodal thus far.
One of the fund’s main goals is to hasten the commercialization and widespread adoption of AI industrial solutions, facilitating the deployment of cutting-edge technologies in vital industries and encouraging a wider uptake of useful, market-ready innovations.
