Investment and advisory firm Anthem Asia is to invest a “six-figure US dollar sum” in Xavey, a mobile data collection platform in Myanmar, taking a significant minority equity stake in the start-up firm.
Xavey Pte Ltd, a Singapore-registered entity operating out of Yangon, was established in December 2013 and serves market research and NGO clients.
Genevieve Heng, co-founder and director of Anthem Asia, said some upcoming products from Xavey is expected to make conducting surveys and undertaking research easier and more efficient in Myanmar, where raw data is hard to collect.
“The Xavey platform gives clients the data they need to make smart decisions that will guide the development of Myanmar as it becomes a significant Southeast Asian market in the coming years,” Heng said.
Xavey currently offers market research firm, NGOs and other clients the ability to conduct Myanmar- and English-language field surveys using mobile devices, converting paper-based research forms into mobile applications. The product runs online, via the cloud or offline.
“Our ambition is to become the leading research technology platform with the largest consumer panel database in Myanmar and further afield,” said Aung Sithu Kyaw, founder and chief executive officer of Xavey.
“With Anthem Asia as a partner, we will be able to accelerate our marketing and the development of our new suite of products,” he added.
Anthem Asia was co-founded by Genevieve Heng and Josephine Price, and focuses on firms requiring first phase investments of between $100,000 and about $1.5 million.
Xavey is one of a number of investments Anthem Asia has made in the past 18 months. Last year, the firm invested in two marketing communications businesses, Blink Agency and Zagar Communications. Other investments include Hintha Business Centres, which opened in September 2013, and Thahara, a marketing and management platform offering access to small, unique properties across Myanmar.
Source: Myanmar Business Today