Apart from developing its telematics business, KATSANA will also use the funding to focus on its product KATSANA Insight
Kuala Lumpur-based data company Pixelated, which owns the brand KATSANA, today announced that it has raised a MYR4 million (US$893,000) funding round from Axiata Digital Innovation Fund (ADIF). The fund is managed by Intres Capital.
The company will use the funding for the development and commercialisation of its current teleatics business and particularly its driver behavioural analytics solutions for motor insurance companies, KATSANA Insight.
According to a statement by KATSANA, the platform is able to reduce claims loss and gather much needed data in preparation for detariffication of motor insurance in Malaysia. It claims to lower barriers of entry for motor insurers by introducing packages based on dual mode smartphone telematics and a dedicated beacon on insured vehicles. The product is claimed to simplify data analysis through KATSANA Insight dashboard via a web-browser and through its APIs.
KATSANA Insight is currently marketed for motor insurance companies in Malaysia though KATSANA is also planning to expand within the ASEAN region.
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KATSANA utilises prediction and gamification engine to understand driver behaviour patterns. The company scores drivers based on actual risk on the road, and engage them to become better drivers. It works with motor insurers and auto manufacturers to enable safer roads through unified and API-centric automotive platform.
“Since the inception of KATSANA in 2014, we’ve realised that behaviour insights have been our most valuable asset. Our real-life experience in dealing with major enterprise fleets has allowed us to develop precise algorithms to understand driver behaviour which is directly beneficial for motor insurers. This development is very much driven by our mission to become a catalyst for safer roads in Malaysia through KATSANA’s engagement and gamification engine. We are glad to have Axiata on board with us on this mission,” said Pixelated Managing Director and Co-Founder Syed Ahmad Fuqaha Syed Agil.
The company also stated that it will use the funding to scale up its product development team.
It is also a recipient Skim Permulaan Usahawan Bumiputera (SUPERB) from TERAJU, a strategic unit under the Malaysian Prime Minister’s Department. Targetted at startups which had operated for less than three years, the scheme provides grants for up to MYR500,000 (US$111,000) to support “creative and innovative” business ideas.
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