The idea of a startup for Powered by RISE began seven years ago, when the founder Kray Chong travelled to China for the second time of Factory Training for the Electrical Power Product in Guangzhou. When travelling in the city, Kray is amazed with the transformation of China within a short period of time. Most of the motorcycles on the road are already changing to electric scooters and electric bikes. Part of the bus on the road has changed to Electric Bus as well. At that time, the global perception of China as a country that is not a big supporter of environmentally friendly, yet China quietly is advancing their policy towards green mobility and particularly focus on Electric Vehicles. That's the moment that Kray Chong decided to study and understand the business of Electrical Vehicle. Kray started to diversify the business of current focusing in Electrical Engineering and Construction, to automation and Electric Vehicle Charging Station.
As for two (2) years of preparation and idea stage, on November 11, 2019 the Emergence Innovative Sdn Bhd emerged as the startup company Powered by RISE. The startup core focus is in Electric Vehicle Charging Solution. Recognizing the inevitable rise of Electric Vehicles replacing traditional gasoline vehicles within the next decade, the startup set its sights on pioneering change.
Powered by RISE initially focused on the Electric Motorcycle Charging Station with integrated apps and cash payment systems. RISE accomplished a groundbreaking feat - the first intellectual property to have the first Electric Motorcycle Charging Station that is scalable to up to 40 Charging Port under a single control. This innovation drastically reduced costs while ensuring scalability for future upgrades. Fortunately, the efforts garnered recognition with the National Technology Innovation Sandbox Grant from the Ministry of Science and Technology Innovation (MOSTI). This gave Powered by RISE more funding to further R&D and commercialization of the product.
Subsequently, Powered by RISE scaled up Research and Development, venturing into electric cars and expanding the Electric Vehicle Charging Station portfolio. Breaking down each charging station component, the team realised that the charging station is not rocket science and is fully capable of local assembly and programming. It took the team 2 years more to fully complete the system from charging station equipment, to the control dashboard and server, until the app's payment and complete solution. During this timeframe, Powered by RISE takes pride in being the sole company in Malaysia to achieve a 92% complete localization of its product, with a 100% in-house team responsible for the development of the entire system, from apps to payment solutions.
Following the successful completion of the initial round of Equity Crowdfunding via the Pitchin Platform, Powered by RISE secured an Angel Investment totaling RM670,000.00. Subsequently, the company received further governmental support in the form of the Cradle CIP Sprint grant in January 2023, attributed in part to the positive evaluation from the MRANTI Global Accelerator Program (GAP). MRANTI GAP Dec 2022 and MRANTI I-Nation & Pitch Perfect 2023 provided Demo Days and pitching opportunities where RISE showcases the products and services to a wider audience, including potential investors. As a result, Powered by RISE has not only garnered considerable attention within the government sector but has also successfully secured numerous contracts and expressions of interest.
Recently, Powered by RISE just signed a letter of support with Railway Corporation (RAC) for installation of charging stations at five (5) locations in KTM Selangor. The project is currently in the preparation stage, with the first station anticipated to undergo a soft launch in December 2023. Additionally, Powered by RISE has entered into a Memorandum of Understanding (MOU) with OCR Group Berhad, signalling a strategic collaboration to implement Electric Vehicle Charging Station solutions across all of their existing and upcoming buildings.
Having emerged as one of the pioneering companies in Malaysia to offer charging station solutions, Powered by RISE has traversed a considerable journey—from an initial understanding of charging stations to the comprehensive provision of a complete charging solution. Despite the challenges inherent in today's dynamic market, RISE is well-prepared for the ongoing technological advancements that define the landscape, showcasing a readiness to adapt and innovate.
Powered by RISE has recently introduced the world's first Charging Station, featuring AI Camera Technology. This state-of-the-art innovation leverages deep learning to monitor user behavior, preventing both Electric Vehicle (EV) and non-EV hogging in parking lots. Beyond this, the AI Camera is multifunctional, capable of detecting incidents such as fire and flooding, promptly notifying both the building and users. Representing RISE Gen 5 technology, this visionary step prepares the company for the future of AI implementation, emphasizing predictive and preventive analytics to ensure the realization of a fully automated charging station feature.
Powered by RISE has achieved another milestone by becoming the first in Malaysia to complete the Gen 4 Superapps and secure a listing in the Superapps Mini Program. This strategic move positions us at the forefront, allowing future Electric Vehicle (EV) users to seamlessly make payments directly through their preferred Superapp. Sunway Superapp, RISE inaugural partner in this endeavor, has already completed the app and system, eagerly awaiting the official launch scheduled for December 2023 or, at the latest, January 2024.
This article is provided by Elliot & Co.
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