FTV Labs Pte. Ltd. (KEGMIL), a leading cloud-based Field Service Management platform in Southeast Asia, announced the close of its SGD$2.2 million Pre-Series A investment round led by ME Innovation Fund L.P. (a Corporate Venture Capital fund launched by Mitsubishi Electric Corporation and Global Brain Corporation) and Origgin Capital, with participation from GHV Accelerator and GK-Plug and Play Indonesia.
KEGMIL helps companies that provide repair and maintenance services for mission-critical assets such as elevators, chillers, and other mechanical and electrical systems, to automate and optimize their legacy processes from scheduling and dispatch to execution and reporting.
“We are thrilled to partner with Mitsubishi Electric, a recognized world leader in electrical and electronic equipment to achieve greater operational efficiency as well as drive service performance and revenue for their Southeast Asia businesses,” said KEGMIL’s CEO Kelvin Ong. “With growing equipment complexity and demand for essential technical services, the talent shortage and widening skills gap can be managed with better technology that drives field efficiency, tribal knowledge retention and reduction of unnecessary on-site interventions.”
This fresh capital injection will enable the Singapore-headquartered company to accelerate its product roadmap and fuel growth in key verticals such as construction, manufacturing, marine offshore, and renewable energy across the region.
For more information, please visit www.kegmil.com
Media Contact: Kelvin Ong, Co-Founder, and CEO, firstname.lastname@example.org
KEGMIL was founded with the mission of empowering millions of field service professionals in Southeast Asia with superior technology and insights to keep our world running safely and profitably. Our cloud-based field service management solution helps technicians, planners, and managers to automate job scheduling, dispatch, execution, and reporting to improve field visibility, productivity, and knowledge retention. We serve OEMs and independent technical servicing firms that undertake repair and maintenance of mission-critical assets across construction, manufacturing, logistics, marine, offshore, and renewable energy sectors. For more information, please visit www.kegmil.com
About ME Innovation Fund L.P.
ME Innovation Fund L.P. is a Corporate Venture Capital (CVC) fund jointly launched by Mitsubishi Electric Corporation and Global Brain Corporation. The fund targets new businesses creation through open innovation. In addition to financing, the fund will provide wide-ranging business knowledge and management support as well as technology, aiming to realize promising new businesses that can collaborate with Mitsubishi Electric to contribute to a more sustainable world.
About Origgin Capital
Origgin Capital is the Venture Capital arm of Origgin Ventures, Singapore’s first Deep-tech Venture Creator. Origgin focuses on the investment and commercialization of defensible patents from the universities and research institutes. Through the Venture Co-Creation approach, Origgin provides the initial capital and hands-on support to create deep-tech start-ups, guide them to initial success and create value for our stakeholders. Since 2017, Origgin has successfully spun-off more than 30 deep-tech start-ups from partner universities such as NUS, NTU, Harvard and ETHzurich.
About GHV Accelerator
GHV, a global investment & innovation company headquartered in Singapore and presence in Asia Europe and United States, works with disruptive companies such as FTV Labs Pte. Ltd. (KEGMIL), and accelerate them to achieve the suitable product market fit, scalable business model, and build strong IP’s globally. GHV has been working with several Japanese Enterprises for their strategic collaborations in India, such as Maruti Suzuki, Marubeni, NEC, NTTData among many others. For Digital Transformation of Enterprises leveraging Indian Innovation, JETRO (Japan External Trade Organization, a government-related organization that works to promote mutual trade and investment between Japan and the rest of the world), has partnered with GHV to expand Japanese Enterprise footprint for Asian innovation market.
About GK-Plug and Play Indonesia
GK-Plug and Play Indonesia is the Indonesian arm of Plug and Play, a venture capital investor and startup accelerator headquartered in Silicon Valley. They are committed to supporting startups through various programs, which include providing seed funding, mentorship, and links to big corporations such as Astra International, BNI, BTN and Sinarmas etc.
FTV Labs Pte. Ltd. (KEGMIL) is one of our portfolio startups in Plug and Play APAC. As an in-house venture capital, our goal is to fund the teams that are building the defensible businesses of the future. By leveraging our capital, our network of VCs, and our corporate partners, we give our portfolio companies an unfair advantage. Find out more here!