Maxis takes 'significant stake' in retail analytics startup ComeBy

Maxis has taken a significant stake in Malaysian-based retail analytics startup, ComeBy, to empower innovation and digitalisation in the retail industry. The telco's head of brand and marketing, Tai Kam Leong, explained that the investment will empower local entrepreneurs and businesses that demonstrate the potential in making a significant impact on industries through digital innovation.

"We believe ComeBy's innovative approach to shopper data can help unlock new growth for retailers," he said. The investment is part of Maxis’ commitment toward corporate venture building and its overall strategy to invest in and grow tech-driven startups and companies. A+M has reached out to Maxis for additional information.

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 claims to increase in-store engagement and optimise in-store sales, remarketing, and merchandising. It is working on pilots with several retail partners, including Senheng.

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 provide companies it invests in with access to support via Maxis’ capabilities, experience and talent.

ComeBy's co-founder, Barry Ooi, said in addition to the financial investment which wil help expand the team and scale more quickly, it is excited to be able to tap into Maxis' own extensive network of retail partners, as well as its vast tech resources.

Maxis recently announced its foray into venture building with a significant stake in edutech startup GuruLab. It has also 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.

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