Open For Business

From automating tedious expense claims to unlocking consumer data trapped in third-party retail, this episode explores whether Xtractify is just AI hype, or solving real problems.After raising RM2 million and setting its sights on RM1 million in revenue by 2025, Xtractify is betting on AI-powered automation, especially through WhatsApp, to help businesses streamline operations and extract hidden value.On this episode of Open For Business, we speak with Elvis Lau, Founder and CEO of Xtractify, a Malaysian startup claiming to offer plug-and-play AI tools that work with minimal changes to existing systems. The company is targeting industries like retail and F&B with two core products: AI-driven business automation and a WhatsApp-based customer acquisition engine.Elvis breaks down how their AI engine builds on top of existing LLMs, enhanced by proprietary training methods, self-refinement algorithms, and small language models for secure, business-specific results. He also discusses their hybrid SaaS + pay-per-use model, how they’re navigating product-market fit, and the trust challenges AI startups face.See omnystudio.com/listener for privacy information.

Slippery mats are a common challenge shared by yoga enthusiasts. Recognising a significant gap in the local market for high-quality, eco-friendly yoga mats, Wolo Yoga was founded in 2021. The company is dedicated to providing vegan leather mats that not only enhance grip and durability but also contribute to environmental sustainability. Initiatives include planting a tree for each product sold and supporting carbon offset projects.Today on Open For Business, we speak to Dean Yeong, Co-Founder of Wolo Yoga. We'll explore the origins of Wolo Yoga, delve into the research and development process of their products, and discuss their deep commitment to sustainability practices.Co-Produced by: Wei San LeeSee omnystudio.com/listener for privacy information.

Manual bookkeeping and accounting is tedious, error-prone, and outdated, but can automation & AI fix it? In this episode of Open For Business, we speak with Hazli Johar, Co-Founder and CEO of Cynco, an AI-powered bookkeeping platform built specifically for startups and SMEs.Hazli breaks down how Cynco wants to differ from industry giants like QuickBooks and Xero by focusing on business owners, not accountants. We explore the platform’s automation features, from document processing to categorization using narrow AI models, along with its SaaS pricing model, user feedback, and traction since soft launching in late 2024.We also dive into Cynco’s product-market fit journey, its current $125,000 pre-seed raise, and growth targets of 1,000 users and $70,000 revenue by end-2025. Hazli explains why they believe their lean, focused approach can outmaneuver slower incumbents, and what it’ll take to keep scaling sustainably.Is Cynco truly building the future of accounting, or is this just another fintech longshot in a crowded market? Tune in to find out.See omnystudio.com/listener for privacy information.

Every oil & gas company wants better & faster insights from their deep and complex. Can Rosary Labs’ AI tools deliver smarter decisions, or is it just more AI hype?Rosary Labs began life as V-Cred under PETRONAS Innovation Garage, aiming to close the SME credit gap with alternative data. Fast forward to today, the rebranded AI startup is carving out a niche in high-value enterprise sectors (energy, utilities, and legal) developing vertical AI tools that help experts extract insights and act on complex data.Co-founders Lau May and Tan Nian Wei break down their journey from corporate incubator to bootstrapped startup backed by Cradle, MYHackathon, and MPRC. We explore how Rosary Labs uses large language models and intelligent agentic workflows to support subject matter experts, the commercialisation strategy behind their enterprise products, and the challenges of selling AI to industries steeped in legacy systems.We also unpack their projected seven-figure revenue, evolving pricing models, and long-term vision to remove data friction, one domain at a time.See omnystudio.com/listener for privacy information.

With more people seeking simple, effective ways to stay healthy, one local brand is helping Malaysians get their daily greens… no blender required.Meet HGHY Nutrition, short for “Healthy Gut, Happy You”, a wellness brand on a mission to make gut health easy, accessible, and actually enjoyable. Their hero product, My Daily Greens, is a nutrient-rich blend designed to support digestion, immunity, focus, and overall well-being, all in one scoop.It’s wellness without the overwhelm, and it all started with founders, Rita Mangan, a certified health coach and yoga teacher, and Kal Izad, whose shared mission is to help you feel good from the inside out.See omnystudio.com/listener for privacy information.

mindnrobotics, a Malaysian IOT and robotics company, has spent over a decade building automation solutions, but recently has focused its efforts on the agriculture and plantations industry. In this episode of Open For Business, we speak with Founder & CEO Ts. Zhafri Baharudin and Co-Founder & COO Shahid Bakar about their company’s 15-year journey, including its pivot from general robotics to AI-powered agri-tech, and what they’re trying to do.We explore how solutions like CanopyNet (a mobile mesh network designed for palm oil plantations) aim to tackle labor shortages and enable smart farming. While still bootstrapped, mindnrobotics has grown steadily, now generating 7-figure annual revenue with 30% growth. With commercial pilots underway and funding conversations in motion, the team is looking to scale its innovations across Southeast Asia. They also share their long-term vision for building a globally competitive, locally grounded robotics firm focused on food security, sustainability, and tech enablement.See omnystudio.com/listener for privacy information.

How does one padel club with big dreams justify a RM91 million valuation?Founded in Stockholm and now trying to make waves in Southeast Asia, ASCARO claims it’s not your average padel club. Launched in Malaysia in 2023, the company became profitable in its first year at 1 Utama and now has bold expansion plans. In this episode of Open For Business, we speak with Managing Director Daniel Liljekvist and COO Nicholas Caoile to unpack ASCARO’s journey from padel apparel brand to premium club concept.With projections of RM90.8 million in revenue and RM41.4 million in net profit by 2027, ASCARO is raising up to RM20 million via equity crowdfunding to fund four new locations across Kuala Lumpur and Jakarta. But with a pre-money valuation of RM91 million and ambitions for a future IPO or acquisition, the big question is: is this too big a swing?The duo shares their multi-revenue model, expansion playbook, and how ASCARO aims to build a new kind of inclusive country club for Southeast Asia, while navigating execution risk, scalability, and investor scrutiny.AI generated Key Highlights:Origins & Evolution: Started as a premium padel apparel brand in Stockholm (2021) before evolving into a padel and social club concept.Malaysia Expansion: Launched in 1 Utama in 2023 and turned a profit within the first year.Business Model: Combines B2C (court rentals, coaching, merchandise) with a strong B2B focus (events, corporate partnerships, sponsorships).Financials: 2024: RM5.4M revenue, RM1.1M pre-tax profit – 2025 (projected): RM36.9M revenue, RM15.7M net profit – 2027 (projected): RM90.8M revenue, RM41.4M net profitFunding Strategy: Raising up to RM20M via equity crowdfunding at a RM91M pre-money valuation to fund four new clubs (3 in KL, 1 in Jakarta).Scalability: Targeting 15 clubs by 2027, leveraging modular concepts, shared cost structures, and strong location selection near corporate hubs.Strategic Partnerships: Incentivising key partners and talent with equity; exploring landlord co-investment models and international collaborations.Risks & Challenges: Execution risk across multiple markets – High construction and fit-out costs – Market still in early-stage adoption in Southeast AsiaExit Plans: Aiming for IPO or acquisition within four years; positioning for regional scale and investor appeal through expansion and digital offerings.See omnystudio.com/listener for privacy information.

In this episode of Open For Business, we speak with Koh Cha-Ly, Founder and Chief Executive Officer at UrbanMetry, a data analytics company in Malaysia that provides AI-powered solutions to help cities and governments analyse large amounts of city data through their proprietary algorithms. Also with us is Chloe Yiin, Product Growth Manager of Urbanwave or Urban NX, a home co-ownership program run by UrbanMetry to help people upcycle homes in well-loved neighbourhoods by providing cash for renovations. We discuss their journey into the AI space with Urbanwave and how it works as well as how they aim to create a sustainable path to home ownership.See omnystudio.com/listener for privacy information.

Founded in 2015, Pott Glasses has grown from bazaars to 8 retail outlets, all without external funding. The company broke past 8-figures in revenue 2-3 years back, and is now eyeing RM100 million as its next major target in the next few years.Pott Glasses is a homegrown boutique eyewear brand attempting to redefine the consumer experience through its signature 4D Optical Styling, which considers eye power, occupation, face shape, and usage to deliver personalised recommendations.In this episode of Open For Business, we explore why and how the founders built their brand in a market dominated by local chains and international names. We also dive into their growth strategy, which includes opening 8 more outlets in the next 2 years, expanding their sunglasses line, rolling out ESG initiatives, and launching a new niche brand, all while exploring strategic partnerships to expand brand awareness and distribution.Tune in to find out how Pott Glasses is reshaping Malaysia’s eyewear landscape, one face at a time.See omnystudio.com/listener for privacy information.

CashOut, a digital contest management platform that uses gamification to drive sales and customer engagement is aiming to change how businesses and marketers create marketing campaigns. In this episode, we speak with the co-founders, Jess and Brahma, why they started this platform as well as how they aim to grow and scale this business after the official launch next month. We’ll also talk about how the platform works and its competitive advantages along with the unique challenges to run and manage this platform.See omnystudio.com/listener for privacy information.