KUALA LUMPUR - VCI Global Limited (NASDAQ:VCIG), a diversified holding company with impressive gross profit margins of 71% and strong revenue growth of 89% over the last twelve months, has announced its subsidiary VC AI Limited's investment in Marvis Inc., a Delaware-based AI startup. The investment, made through a Simple Agreement for Future Equity, entitles VC.AI to receive equity in Marvis's next financing round, which is currently capped at a $30 million valuation. According to InvestingPro data, VCIG maintains a healthy financial position with a current ratio of 5.58, indicating strong liquidity to support such strategic investments.
Marvis Inc. specializes in creating digital clone AI agents designed to automate routine tasks, thereby enhancing productivity and innovation. The company, founded by Masaaki Hatano, has garnered attention from notable advisors including Google (NASDAQ:GOOGL) LLC, Intel Corporation (NASDAQ:INTC), and IBM (NYSE:IBM), as well as interest from Techstars.
Marvis aims to go public on NASDAQ by 2028, targeting a market capitalization of $20 billion. In the meantime, it is in the process of raising up to $5 million in its seed funding round. The investment by VC.AI aligns with VCI Global's strategy to expand its AI portfolio and capitalize on the rapidly growing AI agents market, which according to Markets and Markets, is projected to surpass $55 billion by 2030 with a CAGR of approximately 45%.
The company's strategic position is further strengthened by partnerships with Toshiba (OTC:TOSYY) Tec Malaysia, Hitachi (OTC:HTHIY) Global, and NTT Data Group, suggesting a promising trajectory for widespread adoption. InvestingPro analysis indicates that VCIG is currently trading below its Fair Value, presenting a potential opportunity for investors interested in the AI sector. The investment reflects VCI Global's commitment to fostering innovation within its AI and Robotics segment, as part of its broader business interests that also include Capital Market Consultancy, Fintech, Real Estate, Renewable Energy, and Cybersecurity. Discover more insights about VCIG and other AI companies with InvestingPro's comprehensive research reports, available for over 1,400 US-listed companies.
Dato' Victor Hoo, Group Executive Chairman and CEO of VCI Global, expressed confidence in the potential of AI agents and the company's investment strategy to position VCI Global at the forefront of this transformative technology. The company's solid financial foundation, with minimal debt and strong cash flows, supports its ambitious growth plans in the AI sector.
This news article is based on a press release statement.
In other recent news, VCI Global Limited has announced a series of strategic initiatives and partnerships. The company plans to acquire and develop solar photovoltaic projects with a total capacity of up to 100MW across Southeast Asia and Europe. The five-year initiative is expected to generate around $200 million in revenue over two decades. The company also secured a $24 million contract to provide AI hardware and software for a data center project in Malaysia, awarded by Hexatoff Group Sdn. Bhd. Furthermore, through its subsidiary, V-Gallant, VCI Global won a $16 million contract to build an AI-enabled live streaming platform for a Malaysian e-commerce company.
Additionally, VCI Global appointed Victor Lee as its new executive director, bringing his 28 years of experience in the private equity sector to the company. In terms of financial developments, the company concluded its At-The-Market equity offering program, raising approximately $1.77 million, and secured an $18 million contract to list four Malaysian companies on the Nasdaq stock exchange. These are recent developments in the company's ongoing growth and transformation journey.
Lastly, VCI Global, through its subsidiary V Gallant Sdn Bhd, is now offering advanced AI computing solutions, integrating NVIDIA (NASDAQ:NVDA) H200 Tensor Core GPUs and AI software to enhance operational efficiency. This initiative underscores the company's commitment to innovation and value delivery on a global scale.
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