This fund represents one of the first public and private collaborations between RHL Ventures and SME Corp Malaysia.
The acquisition is expected to be completed in later this month.
The funding capital will be used to support the startup’s research and development and enhance its product quality.
Fore Coffee’s US$1 million add-on to its Series A funding is a strong signal on investor confidence in the coffee startup.
Following the acquisition, Exabytes Group will now serve over 120,000 active clients across Southeast Asia.
The pre-series A funding round was led by Venturra Discovery, the seed investment arm of Venturra Capital.