TheVentures Makes Follow-on Investment in Malaysian Used Electronics Platform

Early-stage investment firm TheVentures announced on July 16 that it has made a follow-on investment in the pre-Series A round of “3cat,” a Malaysian startup specializing in the distribution of used electronic devices.

TheVentures participated consecutively, starting with last year’s seed investment and now in this pre-Series A round. Other investors in this round include Radical Fund, an early-stage impact investor; AEON CO BHD., the investment arm of a major Japanese retail group; as well as existing investors such as Iterative, a Silicon Valley-based early-stage investor focused on Southeast Asia, and TA Venture, a global early-stage investment firm. The investment amount has not been disclosed.

3cat operates an omni-channel platform that manages the entire process of collecting, inspecting, repairing, verifying, and selling electronic devices in-house. By connecting offline stores, online channels, and a logistics system, the company is simultaneously achieving efficiency and reliability in the secondhand distribution market. In particular, 3cat is recognized in Malaysia for its exceptional quality control and in-store experience, which are rare in the local market. Although the penetration rate of electronic devices in Southeast Asia is rapidly increasing, there is still a lack of verified distribution networks. 3cat is drawing attention for integrating all processes from collection to resale, and for its circular distribution model that helps reduce electronic waste.

The seed investment early last year was initiated after 3cat directly requested a meeting with TheVentures. This was because Dae-Hyun Kim, a partner at TheVentures with experience founding a used goods trading platform, was seen as an investor who could understand the complexity of the market structure and execution. At the time, 3cat was operating two offline stores, managing the entire distribution process in-house without outsourcing, and executing its business model on a store-by-store basis. Within just 10 months of the initial investment, 3cat expanded to 21 offline stores across Malaysia, achieving nearly tenfold growth.

Dae-Hyun Kim, partner at TheVentures, commented, “3cat is a team that has rapidly designed and executed its operational structure in-house, without outsourcing core processes. I was particularly impressed by the team’s direction and execution capabilities, as they have proactively built elements that directly impact the consumer experience.”

Karl Loo, co-founder of 3cat, stated, “Consumer trust is a core value in the used electronics market, and there is still a shortage of verified brands in Southeast Asia. Through our omni-channel strategy connecting online and offline, 3cat is building a trust-based distribution platform in Malaysia. With this investment, we plan to further advance our systems and accelerate nationwide expansion.”

Meanwhile, TheVentures is making proactive investments in early-stage teams with strong execution capabilities, based on close collaboration with local partners in key markets including Southeast Asia and North America. The firm is also working to establish a dedicated fund to discover K-consumer goods brands with global competitiveness.