Maxis takes up stake in retail analytics startup ComeBy
KUALA LUMPUR: Maxis has acquired a significant stake in Malaysian-based retail analytics startup ComeBy as part of its commitment to corporate venture building and its overall strategy to invest in and grow tech-driven startups and companies.
“Our investment in ComeBy will empower local entrepreneurs and businesses that demonstrate potential in making a significant impact to industries through digital innovation.
"We believe ComeBy's innovative approach to shopper data can help unlock new growth for retailers,” said Maxis head of brand and marketing Tai Kam Leong in a statement.
According to the statement, ComeBy provides offline retailers insights into their shoppers’ individual preferences before the point of checkout.
By utilising a combination of active and passive tracking, the company increases in-store engagement and optimizes in-store sales, remarketing, and merchandising.,
ComeBy has commenced pilots with several popular retail partners, including Senheng, and welcomes interested retailers to visit their website at ComeBy.io.
ComeBy is a result of a collaboration effort with Wright Partners, a corporate venture builder in exploring the opportunities in retail technology space.
"Beyond funding, Maxis will also be providing companies that it invests in with access to support via Maxis’ capabilities, experience and talent," said Maxis.
“In addition to the financial investment which will help us expand our team and scale more quickly, we are excited to be able to tap into Maxis’ own extensive network of retail partners, as well as its vast tech resources,” said ComeBy co-founder Barry Ooi.
Recently, Maxis announced its foray into venture building with significant stake in edutech startup GuruLab, and has been developing several innovation programmes with the startup ecosystem through many initiatives such as the Maxis IoT Challenge, SPARK series, Market Access Day, and collaborations with the Malaysia Digital Economy Corporation (MDEC).