Malaysian roadside assistance solutions provider Bateriku.com has closed $7.4 million in a Series B round, while Singapore-based cross-border e-commerce enabler SCI Ecommerce is said to be exploring an IPO in Singapore as soon as mid-2025.
Malaysia’s Bateriku.com bags $7.4m
Malaysian roadside assistance solutions provider Bateriku.com has closed $7.4 million in its Series B round. The investment was led by strategic backers Kumpulan Wang Persaraan (KWAP), Gobi Partners, and existing investors VentureTECH SBI Capital and VentureTECH.
The company is set to use the new funds to expand its coverage to overseas markets, starting with Indonesia and Singapore. It also intends to advance its technology and enhance the Vehicle Ownership Experience (VOE) as it aims to seamlessly integrate the automotive verticals—Battery, Breakdown, “Bengkel” (car workshops and auto part shops) and Bazaar (auto parts marketplace)—into a cohesive ecosystem.
In a press release, the founder and CEO of Bateriku.com Azarol Faizi said, “This investment will fuel our mission to transform roadside assistance and reshape the automotive ecosystem.”
The Selangor-based firm began its journey in 2014 as an on-demand car battery replacement service and has evolved into an integrated automotive ecosystem that connects car users with roadside assistance, trusted workshops, an auto parts marketplace and ancillary services.
Bateriku.com currently operates nearly 200 Pitstop outlets across Malaysia and will expand its first international outpost in South Jakarta, Indonesia. The company’s ecosystem comprises over 1,000 trained gig technicians, 78 entrepreneurs, and close to 3,000 workshop and auto part partners.
SCI Ecommerce exploring Singapore IPO: report
Southeast Asian cross-border e-commerce enabler SCI Ecommerce is exploring an initial public offering (IPO) in Singapore as soon as mid-2025 that could potentially value the company at over $1 billion, according to a Bloomberg report on Wednesday.
The company, which is backed by Singaporean buyout firm Asia Partners, is reportedly working with financial advisors to prepare for the share sale. All the details, such as size are still under consideration, according to the report.
SCI Ecommerce specialises in helping major brands establish and manage their online presence across Southeast Asia and China. Its portfolio is over 6,000 online stores, serving well-known brands like Danone, Huggies, Nestle, Philips and Unilever.
In 2021, SCI secured S$50 million led by Asia Partners. At that time, the CEO of SCI Ecommerce Joseph Liu mentioned plans for an IPO in New York, with the possibility of secondary listing in their home country.
Singapore’s IPO market is experiencing a downturn. So far in 2024, only one company, Singapore Institute of Advanced Medicine Holdings, which raised $19,5 million, has gone public on the bourse.