VAV secures US$556,000 from Axiata Digital Innovation Fund (ADIF), which fund is managed by Intres Capital Partners
Sound media technology solutions startup VAV (pronounced “wave”) today announced that it has raised a RM2.5 million (US$556,000) funding from Axiata Digital Innovation Fund (ADIF), which fund is managed by Intres Capital Partners.
In a press statement, the Kuala Lumpur-based company said that it will use the funding to finance technical deployment of its soundwave-based solutions and accelerate commercialisation in Malaysia. It is also looking explore overseas market such as Indonesia, Thailand, and China, in which the company had secured a partnership with Nanning-based NNTV.
“This timely injection of fund by ADIF will allow VAV to fast track and gear up the marketing of the VAV solutions to more media companies such as TV and radio stations, online broadcasters, telcos, SMEs and event management companies to help them enhance their advertising campaigns,” explained VAV Executive Chairman Wan Kamarul Zaman Wan Yaacob.
Previously, VAV secured a RM500,000 (US$111,000) grant from Cradle Fund’s CIP 500 programme in early 2016. It had also secured another RM500,000 (US$111,000) in 2015 from Unit Peneraju Agenda Bumiputera (TERAJU), under their Superb Grant programme.
VAV’s technology solutions utilise inaudible sound waves to transmit digital content to smartphones, which the startup dubbed as “a new alternative” for organisations to engage with their audiences and customers.
The solutions can be used by television companies to set call-to-actions on viewers’ smartphones during air time, such as inviting viewers to vote for a song in a contest programme or notify promotion deals from their advertisers.
The company’s products include:
VAV Online Control Panel
An online management software system which includes the function to edit, manage, schedule, and track any VAV Content to be triggered by the VAV Tone whenever the User activates the VAV SDK.
An inaudible audio signal that can be embedded into any music or video soundtrack and such the embedded inaudible audio signal will trigger a call to action or multimedia content, in a mobile device whenever the User activates the VAV SDK.
A software development kit that can be plugged-in into an iOS or Android mobile app and has the ability to decode a VAV Tone and trigger a VAV Content managed by the VAV Online Control Panel whenever the User activates the VAV SDK.
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VAV is currently in the process of patenting its online dashboard, process flow and customised functions that it had developed.
The company was founded in 2015 by twin brothers Addie Leong Qi Jie and Alden Leong Qi Wen, together with Leow Teck Yee and Wan Kamarul Zaman Bin Wan Yaacob.
Prior to starting VAV, the twin brothers ran a startup called Vacant Spot which used iBeacons to help shoppers navigate empty parking spaces in shopping malls. The business eventually failed, but they later met Leow who introduced them to the inaudible sound wave technology as used to send loyalty badges to event goers through a mobile app.
They later teamed up with Wan Kamarul Zaman to start VAV.
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