VC firm Hartamodal invests in Sarawak-based AI firm Neuon AI

KUALA LUMPUR (Feb 13): Hartamodal Sdn Bhd (Hartamodal), the licensed venture capital arm of boutique asset management firm Tradeview Capital has invested in Sarawak-based artificial intelligence (AI) company Neuon AI Sdn Bhd (Neuon AI).

In a statement, Hartamodal said the investment was made under its RM70 million Dana Impian fund. The investment amount was not disclosed.

To date, the fund has invested RM15 million across three technology startups. The fund focuses on accelerating the commercialisation and adoption of AI-based industrial solutions in Malaysia.

Founded in 2018 by Dr Chai Kok Chin, Marcus Chai Koh Kiong and Dr Chang Yang Loong, Neuon AI develops AI applications for sectors including infrastructure management, forestry and sports science.

Hartamodal executive director Tan Cheng Wen said Neuon AI has demonstrated the ability to translate academic research into commercial applications, particularly in road asset management, forestry and sports science.

He also acknowledged the role of the firm’s industry adviser Swinburne University Sarawak head of School of ICTassociate professor Dr Miko Chang in the investment process.

Kok Chin, who is Neuon AI co-founder and chief executive officer, said the venture capital backing will support the company’s next phase of growth and expansion of its AI solutions.

“By partnering with Hartamodal, whose expertise and long-term fundamental investment approach align closely with our mission, we are accelerating the delivery of home-grown, world-class AI solutions that will redefine Malaysia’s most critical sectors,” he said.

The company has signed a memorandum of understanding with Shenzhen Stock Exchange-listed Runjian Co Ltd to explore collaboration in automated harvesting technology for black pepper crops and satellite navigation systems for oil palm plantations.

Furthermore, it had received the Sarawak Premier’s Award at the 2023 Sarawak Digital Economy Awards, which recognises locally developed digital innovations and technology platforms.

Its flagship product, RpadPlus, is a computer vision-based road asset management system. The platform won the Best Commercialisation Project award at the MYHackathon 2020 Graduation Day organised by Cradle Fund under the Ministry of Science, Technology and Innovation (Mosti).

It also received recognition at the World Summit Award 2025 for digital innovation. RoadPlus is currently deployed by several government agencies, including Jabatan Kerja Raya Sarawak (JKRS).

A graduate of the Sarawak Digital Economy Corporation’s Digital Village Accelerator programme, Neuon AI has also undertaken projects with Sarawak Forestry Corporation and Institut Sukan Negara.