In a significant milestone for Malaysia’s sustainability efforts, Ascension Innovation Sdn Bhd has become the first Equity Crowdfunding (ECF) issuer to be invested under the Environmental & Social Impact (ESI) scheme under the Malaysia Co-Investment Fund (MyCIF) program.
The scheme is an expansion of the existing ESG scheme designed to encourage more micro, small, and medium enterprises (MSMEs) with impactful solutions to secure funding via alternative financing channels.
With BioNexus Gene Lab Corp as the lead investor, Ascension Innovation Sdn Bhd successfully raised RM1,703,295 from 11 investors through pitchIN.
This achievement is a testament to the company’s vision and the confidence it has inspired in the investor community. The funding will enable Ascension Innovation Sdn Bhd to expand its operations and further amplify its social and environmental impact in the healthcare industry.
Andrew Teng, the Founder and CEO of Ascension Innovation Sdn Bhd, said, “We are thrilled to achieve this milestone as the first ECF issuer under the ESI scheme. We are very grateful for the opportunity and support to raise capital through the pitchIN ECF platform, and for the investment from the 11 investors, especially BioNexus Gene Lab Corp and MyCIF.
Their backing underscores our shared commitment to revolutionizing healthcare through sustainable practices. This investment not only supports our mission but also strengthens our efforts to contribute to value-based healthcare and hopefully to play a part in the realisation of the ‘One Patient, One Record’ under the National EMR Plan. We believe that impactful, socially responsible innovation is the way forward.”
pitchIN, Malaysia’s Digital Fundraising and Investment Hub, has played a pivotal role in
connecting Ascension Innovation Sdn Bhd with investors who share a commitment to
sustainability and innovation. With over 178 successful ECF campaigns under their belt and
more than RM320+ million raised, pitchIN continues to reach new milestones and set records through their platform.
Kashminder Singh, the Co-founder and CSO of pitchIN, highlighted, “Ascension Innovation Sdn Bhd’s success illustrates the power of Equity Crowdfunding (ECF) in enabling companies with visionary solutions to access the capital they need. At pitchIN, we are dedicated to supporting companies that are not only commercially viable but also contribute to a better future. The introduction of the ESI scheme further enhances our ability to drive positive change by connecting impactful businesses with investors.”
As Ascension Innovation Sdn Bhd embarks on the next phase of its journey, it sets a new standard for other MSMEs aiming to create transformative impact and explore alternative
financing options such as equity Crowdfunding that offers an opportunity for the public to
support innovative businesses whilst contributing to broader social and environmental goals.