In the bustling landscape of technological innovation and entrepreneurial resolve, startups Lapasar and Doople have carved a distinct success curve through unrivaled growth and lucrative investments. Seeing an incredible growth rate – Lapasar by 480x and Doople by 48x- demonstrates these startups' relentless pursuit of progress.
Lapasar, a dynamic e-procurement platform, has charted a remarkable trajectory of success. Founded with a vision to revolutionize B2B procurement in Malaysia, the company swiftly gained recognition for its innovative approach to supply chain management. Lapasar's growth has been underpinned by a commitment to streamlining the procurement process, offering a wide range of products, and fostering transaction transparency. Their dedication to user experience and customer satisfaction has resulted in a rapidly expanding customer base, including prominent organizations across various industries.
Strategic partnerships, consistent technological advancements, and a strong focus on sustainability and social responsibility mark Lapasar's journey. This combination of factors has catapulted Lapasar to the forefront of the e-procurement industry, making it a compelling case study in corporate success. Over the years, such a commitment has received more than RM8,000,000 in investment from 2017 to the present by NEXEA. Today, the company is a shining beacon in the e-procurement spectrum, capturing the attention of prominent organizations thanks to its sweeping portfolio of products.
Thinesh, CEO of Lapasar, shared, “We always used the experiment --> scale --> optimize methodology. When we wanted to launch something, we would run many small experiments until we found that 1 of the experiments worked. Next, we would pour resources into that experiment through people & technology and quickly scale the numbers. With fast growth comes many holes and weaknesses; therefore, we usually get into the optimization phase after scaling. In the optimization phase, we stop focusing on the topline and start focusing on the bottom line. In this phase, we typically focus on fundamentals such as cost to run the business, cash flow optimization & gross profits increase. This has always been how Lapasar grows and sustains that growth.”
Doople Tech is a Malaysian IoT startup that provides cloud-based solutions for monitoring and managing solar PV systems. Their innovative platform enables organizations to remotely track their system's performance, detect failures in real-time, and optimize operations for maximum efficiency. Founded in 2019, Doople Tech has quickly established itself as a leading provider of IoT solutions for the renewable energy sector.
Doople Tech's core product is the Doople IoT platform. This cloud-based solution connects to solar PV systems and collects real-time data on various parameters, including energy generation, system performance, and environmental factors. The platform utilizes advanced analytics to identify potential issues, predict failures, and recommend corrective actions. They hit the sweet spot with an innovative software application, lauded for its efficiency and user-friendliness, mutating into a total investment amount of more than RM700,000 from 2020 to the present by NEXEA.
Idzat, CEO of Doople, also shared, “We embark on our journey with a dream, starting right from the company's establishment. Dreaming serves as our foundation, compelling us to formulate comprehensive plans and ensuring our dreams are realized within the envisioned timeframe. In addition to strategic planning, we boldly embrace challenges, venturing into untapped segments of our industry, a path less explored by many companies. This approach is pivotal for the swift expansion of our business, propelling us toward rapid growth and exceeding our initial expectations. Furthermore, we are firmly committed to continuously fostering the vibrant growth of our business each year. This unwavering dedication is crucial to achieving our ultimate goals and turning our dreams into real accomplishments.”
“An accelerator experience is not the same for every founder. Different people take away different things, and companies are impacted differently. For us, the greatest value was mentorship and monetary investment. Monetary investments allowed us to grow, and I believe mentorship is the single most important factor as to why Lapasar grew and, most importantly, survived. I was not an experienced founder & mentorship gave me perspective of what not to do.” said Thinesh, CEO and Founder of Lapasar.
“Enrolling in the accelerator program was a game-changer for our startup. The mentorship we received was invaluable, providing us with strategic insights and guidance that propelled our business forward. The networking opportunities were exceptional, connecting us with industry experts and potential collaborators. The tailored workshops and resources addressed our specific challenges and equipped us with the tools needed to navigate the competitive landscape. This program has been instrumental in shaping our success, and we highly recommend it to any entrepreneur looking to take their venture to the next level.” said Idzat, CEO and Founder of Doople.
NEXEA's Accelerator Programme is a gateway for participating start-ups, opening various growth and innovation possibilities. Here's a deep dive into the advantages it offers:
NEXEA also offers access to investment opportunities, connecting start-ups with potential investors, loan providers, and grant bodies.
NEXEA’s support does not end when the acceleration cycle does. NEXEA's support continues after the acceleration period, enabling entrepreneurs to leverage their extensive network and resources.
Through NEXEA, start-ups can forge meaningful partnerships with renowned organizations, giving them an unmatched competitive edge.
In short, NEXEA accelerates high-potential tech startups to have a better shot at becoming successful tech giants. So far, NEXEA has 10+ such companies with high growth, including Lapasar at 480x and Doople with 48X growth at this time of writing (Nov 2023). To benefit from Malaysia’s strongest Startup ecosystem provider, apply for any NEXEA-related programmes to grow your Startup as a potential future tech giant.