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SERV X (SERV TECHNOLOGY)

The Mobility of Digital Transformation

SUMMARY VIDEO

COMPANY DETAILS

SUMMARY

SERV X ( formerly known as SERV ) is a technology company that exists to be the bridge between humankind and technology, creating products or services to make everyday experiences enhanced through innovative applications. Towards this effort, starting from late 2019,  SERV X has acquired REKA ( REKA Inisiatif Sdn Bhd ), an R&D company based in Malaysia, to act as the R&D arm for high-end research or development for the group and in 2021 SERV X has expanded to developing mobility-related technologies such as SaaS Products and Lifestyle Applications by a new digital first spin-off company SERV Sfera ( SERV Sfera Sdn Bhd )

PROBLEM

The Digital Divide

One of the main problem statements that we are aiming to solve is to address today’s ‘Digital Divide’. By this we refer to the gap that exists between the availability of technology with the accessibility of technology. A lot of technology has now been made available but due to certain constraints, the businesses or consumers are unable to gain accessibility to it.

There are 3 main pain pillars that we are looking to address under the ‘Digital Divide’ problem statement and each pillar will have specific industries or market segments that we develop technologies to help improve their processes.

  1. Simplicity is the first pillar and this relates to how simple the current available solutions are in the market right now and we find a way to develop a more convenient or straight forward way for users to gain access to services or products with the right user experience. A lot of users struggle with complex processes and lack of proper information to make an informed decision.
  2. Accessibility is the second pillar which is highly focused in the B2B market segment to help improve business processes either generally or specifically on target industries. Businesses lack the proper technology infrastructure or training to go digital and be more resilient with economic shifts.
  3. Availability is the third pillar that is centered on enhancing the processes of either B2B or B2C markets through the use of high-end technology. As the world progresses, businesses are unable to cope with the latest technology that could potentially improve their business significantly due to the high complexity or technical aspects of deployment.
SOLUTION

Addressing the Digital Divide

At SERV X, we categorized the divide into 3 layers and will be addressed by different products and different companies but all the solutions will be made available in one platform named SFERA Business Suite.

SFERA Business Suite is a collection of modular applications designed to be easily used by businesses to kickstart their digital journey in 3 different ways:

  • End to end digital tools tailored for specific business use cases. We have launched two different business tools for the automotive aftermarket industry and the social commerce ecosystem
  • Build your own digital tools by using our pick & choose modular apps. These APIs or Microservices that can be customized according to the needs of the business
  • Enhance your current digital process with cutting edge tech with simplified features such as Data Analytics, Artificial Intelligence and Advanced Robotics

Businesses nowadays need to be ready to face the ever-changing economic landscape by utilizing the latest technology. The SFERA Business Suite is designed to tackle the needs of businesses at different levels either separately or as an end-to-end solution. Businesses that have the desire to run their business either remotely or online, can subscribe to our product and run in the cloud from day one. On the other hand, businesses that would like to further apply technology into their current IT infrastructure can explore our APIs or even advanced IoT and Analytics framework to apply a more structured approach to data-driven decision making.

PRODUCT

Holistic solution, with modular applications

SFERA Business Suites are categorized into 3 categories that each solves different business problems at different levels or stages of the business.

1. SFERA Essentials:

At the top of the platform are standalone apps or APIs to help businesses to kickstart their digital journey either by using the apps as it is or to integrate into their current system or products. This is what we call the SFERA Essentials. Part of the products are:

  • Payments API : A middleware application to allow accepting and disbursement of payments through multiple gateways.
  • Orders API : A collection of orders placed within a user account. Send order data to other sources to view and process.
  • Inventory API : A place to store, monitor, categorize and analyze all available products or services within your storage.
  • Products API : Prepares your product to be shared, process and itemized into other forms of actions.

2. SFERA Applications:

At the core is our software suites designed to help businesses to elevate their day to day digital transactions. These are end-to-end softwares that are custom made for specific business use cases. The SFERA Applications are more targeted and were first made to help digitize the automotive aftermarket. Starting 2022, the SERV X will be bringing the technology to other markets or industries starting with Social Commerce.

  • SFERA Auto : An online workshop management system to manage and analyze daily tasks or bookkeeping.
  • StoreUp : An online social commerce tool to allow merchants to quickly set up an online store and start to receive orders, payments as well as feedback. This is a MoU / potential partnership with Inonity Sdn Bhd to integrate SFERA Essentials with the StoreUp system.

3. SFERA Enhancements:

At the foundation of the product stack is something we call the Business Enhancements layer, a set of tools or products designed to help businesses with either existing infrastructure or starting up a new one to leverage on the latest technologies such as Data Visualizations, Motion Analytics and Advanced Robotics.

  • Data Visualization Platform : A simplified online data visualization tool to allow quick overview of digital assets or database with charts and graphs.
  • PLExyz Motion Analytics : A privacy-centric motion analytics platform using IoT devices to detect occupancy, headcount and activity, and generate accurate, real-time and historical spatial insights.
  • TeleOperated Robotics : A connectivity platform that enables safe teleoperation of robots, autonomous vehicles, and more, using cellular bonding and dynamic encoding.
TRACTION & PROJECTION

Historically healthy, yet always trying to improve revenue streams and scalability

Since founded, SERV X has been able to maintain on track towards our path to IPO and is financially profitable. In terms of growth, we have an average growth at 2% year-on-year.

We are looking at a continued projected growth between 2 to 2.5x year-on-year. Through our experience in growing our product base and understanding the market needs, we are able to improve scalability on new projected revenue streams. Since 2021, we are hard at work to penetrate other regions or markets with the aim to improve our profitability.

Our expected revenue growth in 2022 is mainly derived from new contracts that are already secured or in active negotiations. We are also expecting some revenue from a number of international collaborations that we have inked in the previous year. This is also further amplified by the continued growth in our recurring revenue from our existing market segment.

CUSTOMERS

Transforming experience of both businesses and consumers

At SERV X as a whole, we are in the business of Digital Transformation or DX and our aim is to help both Consumers as well as Businesses to be able to go digital or connected online. Two main categories that are adopting the digital way of doing things through the SERV X ecosystem are:

  • Businesses : These include MSMEs and Large Enterprises of various levels of technology infrastructure. Our adopters are both nationally and regionally growing.
  • Consumers : We started with allowing vehicle owners to go digital and have expanded to various other consumer types that subscribe to other day to day services or products.
BUSINESS MODEL

Multiple and scalable revenue streams

Digital Transformation or DX are being adopted by both consumers and businesses globally, creating an ecosystem of interconnected services or products under SERV X. Each target market will adopt our products for different needs or use cases which in turn allows us to further explore various revenue models. The revenue model is divided into 3 main categories;

1. Contractual : A B2B engagement for a period of time to provide technology-based services to organizations that would allow an accelerated adoption of technology internally through:

a. Software customization of either existing systems or development of a brand new one

b. Integration between two softwares or systems

c. Pure ideation to creation of technology or products

2. Subscription : A pre-packaged collection of products or services into periodic payment terms to ease the adoption of technology with flexible payment options. Types of products available are:

a. Microservices or APIs designed to be easily integrated to systems

b. End-to-End softwares designed for specific business use cases

c. Sensors or IoT devices designed to collect, monitor and analyze certain data types for physical data-driven decision

3. Transactional : A pay-per-use model to cater for financial or transactionally linked services designed to allow scalability for businesses through:

a. A percentage of each payment or MDR

b. A percentage or fee for each over the limit transaction

At this early stage, our main revenue driver is the contractual revenue from our B2B segment as this enables us to leverage on our technical resources and know-how. As we continue our journey to scalability, we project that our revenue emphasis will start to shift towards subscription and transactional. This will also enable us to capture a bigger share of the B2B segment while creating significant momentum in the B2C segment.

MARKET

The Global Digital Transformation Market will be worth $1,247.5B by 2026.

SERV X is targeting the global Digital Transformation or DX market, which will be valued at $1,247.5B by 2026, at a Compound Annual Growth Rate (CAGR) of 19.1% during the forecast period. The DX market is currently on the rise especially with the onset of the pandemic, affecting the global economy to adopt digital and online tools to cope with the rising demand of consumers. With our strong team, strategy, and technology capability, we project that we can achieve $100M in revenue by Year 10. For context, Grab and GoTo are significantly bigger than that.

COMPETITION

Digital Transformation or DX is at the heart of today's modern infrastructure and is the key to future advancements for any industries but it isn't new. DX has been around for years but layers of divide have become major challenges for businesses to adopt. SERV X is redefining and reimagining the implementation of DX in various industries through developing better, simpler as well as sustainable technologies powering DX.

Here are 9 pillars of technologies that we are actively building to deliver better solutions as compared to previous implementations of Conventional DX

FUNDING

For this fundraising round, we aim to raise a total of RM10 million through ECF on pitchIN.

A total of 20% equity is on offer for this round at a pre-money valuation of RM40 million which represents a 2x growth in value since our last funding round.

Raising for growth

We plan to raise up to RM10mil through Equity Crowdfunding and Institutional Investor to further grow the business and commit to our Mission Statement, through Digital Transformation activities.

Investment gained through our campaign, we plan to utilize it as follows:

  • 40% for Product Development, creating better products or services as well as partially venturing into R&D, innovating current or new technology that contributes back to our products.
  • 40% for Sales and Marketing efforts, further expanding not only our consumer or business base, but also for regional penetration into newer markets.
  • 15% for Operations to manage, maintain and improve the current pipeline as well as teams
  • 5% for CAPEX

With the increased spending based on the fund utilization plan, we project that the fresh funding will give us 18-24 months of runway before we will raise our next funding round on our roadmap in order for us to achieve our revenue milestone in our scale up strategy.

VISION

To be the world’s best extraordinary human - technology experience entity

At SERV X, we aspire to be an entity that would be beneficial for mankind and to further positively impact the world through technology. We want to elevate what it means to live everyday for every human by enhancing, enriching and empowering day to day experiences by curated high-tech products that are simple to use but exponentially functional.

INVESTORS

Raised MYR2.3M in pre-seed financing by notable investors

SERV X has been funded to date through conditional grants by Malaysian Government Agencies and SAFE notes by strategic individuals that are accomplished executives and founders in the fields of energy, and digital technology.  The investor group is an invaluable resource for advice and contacts as we scale our business.

FOUNDERS & MANAGEMENT TEAM

Meet our Team

We are a team of 30 individuals with diverse backgrounds of studies and experiences.

Arief Imran, GCEO

  • More than 15 years experience in entrepreneurship and community development.
  • Owner of Star Gym
  • Alibaba Business School, Alibaba Netpreneur Training
  • MaGIC Global Accelerator Program Cohort 1 participant
  • Certificate in Corporate Financial Statement Analysis by Linkedin
  • Certificate in The Fundamentals of Digital Marketing by The Open University
  • Certificate in Google Workspace: Drive by Google
  • 34 years old
  • Malaysian
  • Linkedin Profile: https://www.linkedin.com/in/ariefimran/
  • Writing: Redefining vehicle ownership experience: https://www.linkedin.com/pulse/redefining-vehicle-ownership-experience-arief-imran/

Haziq Faris, GCTO & CEO of REKA

Amri Firdaus, GCSO & COO of REKA

  • More than 14 years experience in technology and project management.
  • Former CTO of Uzma Integrated Solution
  • Started his career as an engineer at FEV Europe  in Germany, working on BMW hybrid and electric vehicles.
  • Fachhochschule Aachen, Master of Engineering MEng, Powertrain and Chassis Engineering
  • Reutlingen University, Bachelor of Engineering - BEng, Mechanical Engineering
  • Certificate in Convolutional Neural Networks, Neural Networks and Deep Learning, Python Data Structures, and Structuring Machine Learning Projects by Coursera
  • 39 years old
  • Malaysian
  • Linkedin Profile: https://www.linkedin.com/in/amri-mohd-din/

Sharizan Abdul Latif, CFO

  • More than 20 years experience in financial management, equity crowdfunding, investment and entrepreneurship
  • Former head of education with pitchIN Crowdfunding
  • Started his career as an auditor at PriceWaterhouseCoopers
  • Lincoln University (NZ), Bachelor in Commerce & Management, Accounting & Finance
  • Universiti Tenaga Nasional, Bachelor in Commerce & Management, Accounting & Finance
  • 44 years old
  • Malaysian
  • Linkedin Profile: https://www.linkedin.com/in/shahabdlatif/

Hafinizam Nor Azmi, Head of Finance

  • More than 18 years experience in finance and management
  • Former GM at Amanah Ikhtiar Malaysia
  • Former Controller at Carrefour Malaysia
  • Started his career as an accounting lecturer and auditor
  • Universiti Teknologi Malaysia, Bachelor Degree in Management (Accounting)
  • 42 years old
  • Malaysian
  • Linkedin Profile: https://www.linkedin.com/in/hafinizam-nor-azmi-3122ab62/

Irma Syazreena, Group Communications

  • More than 8 years experience in communication and marketing.
  • Former Associate Manager at ZEN Rooms
  • Universiti Industri Selangor, Bachelor Degree in Business/Corporate Communications
  • 31 years old
  • Malaysian
  • Linkedin Profile: https://www.linkedin.com/in/irma-syazreena/

Nasreen Razak, Group Product

Nor Safiq, COO of SFERA

Sabrina Hanifa, Consumer Experience (UX) at SFERA

  • More than 5 years experience in operation management, corporate administration, and consumer experience.
  • University of Leeds, Master of Engineering - MEng, Chemical Engineering
  • Foundations of User Experience (UX) Design by Coursera
  • Digital Skill: User Experience by FutureLearn
  • Google Ads Search Certifications and Fundamentals of Digital Marketing by Google
  • 29 years old
  • Malaysian
  • Linkedin Profile: https://www.linkedin.com/in/iliana-sabrina-mohd-hanifa/

Ibrahim Fikry, CTO of REKA

  • More than 7 years experience in technology and R&D
  • Founded an esports startup when he was studying in New Zealand
  • Massey University, Engineer’s Degree, Computer and Electronics Engineering
  • University Kuala Lumpur, 1st year degree in Engineering with Hons, Electronic and Computer Engineering
  • 29 years old
  • Malaysian
  • Linkedin Profile: https://www.linkedin.com/in/ibrahim-fikry-abd-nasir-a8617182/
PRESS 

Featured on Digital News Asia: Smart partnership between SERV, JomParking and Bateriku.com to bring the convenience to Malaysia’s drivers 

Featured on Vulcan Post 

Featured on Bernama Ekonomi in regards to the launching of its latest version in July 2019 

Bernama coverage - SERV aimed to be Southeast Asia’s automotive super app 

Bernama coverage - SERV aimed to be Southeast Asia’s automotive super app 

SERV Acquired Autonomous Vehicle Startup REKA 

SERV Mengambil-Alih REKA - Melihat Kepada Peluang Baru Dalam Arena Teknologi Automotif 

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