|Current Status||Business Plan Ready|
|Amount Invested||RM 40, 000|
|Funding Required||RM300,001 to RM600,000|
|Description||We want to eliminate paper receipt.|
|Business Opportunity||Paper receipt is a hassle to keep, organise, costs companies and has not changed for the last 50 years.
Current E Receipt solutions requires consumer to share their email or phone information for receipt delivery. Our system will solve this issue.
There are up to 1 million SME in Malaysia with 90% in retail and service sectors.
Initially we will target the franchise F&B and grocery shops.
|Revenue / Business Model||Software As A Service. Monthly subscription of RM 30 per month.
Data Analytic Services – Consultancy, Certificate of Authenticity for high value item purchase
|Management Team||Shamsul Amry Bin Muhmad – 17 Years Experience in Accounting and Finance. Experienced in setting up computerised accounting system MNC and PSC environment. Managing costs, budget and schedule.
Azrulhizam Bin Shapi’I – 17 Years Experience in the academic sectors. Senior Lecturer in Faculty of Information Science and Technology, UKM. Specializing in Blockchain Technology, Computer Aided Design, Computer Graphics, Games Technology. Masters on Science in IT in Manufacturing and PhD in Industrial Computing.
Kouh Wee Lian – Business Degree Holder from University of Oklahoma. 18 years experience in Sales, Marketing & Maintenance. Relationship with many SMEs, local government and abroad.
Entrepreneurship experience in manufacturing, services, food and beverages industries.
|Company Background||Oct 2017 – Company Set Up
Feb 2018 – Completed proof of concept software
|Funding Milestone||MYR 500,000
45% Software and hardware development
|% Equity Allocation||20%|
|Risks and Mitigation||Founder Breakup – Clear expectation from each team member
Running out of cash – Proper budgeting and thrifty spends
Technology risks – Proof of concept completed before proceed with seed funding
Market Validation – Market research conducted and results from polls.
|Exit Strategies||Series A funding – 2/3 years
Series B funding – 5/6 years
|Company Name||Bits In Motion Sdn Bhd|
|Business Address||13B, Jalan SG 3/4 Pusat Bandar Sri Gombak 68100 Batu Caves, Selangor|
|Contact Person||Shamsul Amry Muhmad|