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Three Malaysian startups win equity funding from Digi Accelerate

AvantiKumar | Aug. 24, 2016
(Updated) The first batch of startups have graduated from Digi's accelerator programme with more than RM250,000 funding to scale up their businesses.

(Update - 8 September) Digi Telecommunications issued a statement that "it will not proceed with its investment in GrabGas on grounds of inconsistency in the disclosure of data. The decision follows a comprehensive review which concluded on Tuesday. Transparency and integrity is fundamental to the way Digi does business, and the decision is a reflection of the same principles it upholds and expects of its partners.

 "On 22 August 2016, the company announced it will be investing equity funding in three startups that graduated from Digi Accelerate, at which point, the shareholder agreements were ongoing to assess their performance and ensure business practices adhered to company’s standards for proper business conduct."

 

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