Shell buys 50% in Malaysian tech startup Pixelbyte

Commenting on the deal, Shell general manager (mobility) Seow Lee Ming said: “Decarbonising mobility and enabling better services to our customers through digital innovation are core to our ‘Powering Progress’ strategy. “We intend to make investments that will help us serve our customers better through the energy transition and pressures of modern living."

KUALA LUMPUR: Shell Malaysia Trading Sdn Bhd says it has agreed to acquire a 50% stake in Pixelbyte Sdn Bhd, its first investment in a local Malaysian tech startup.

This investment gives Shell an immediate path to an established parking and e-mobility platform in South-East Asia. The deal is expected to be completed in the third quarter.

Pixelbyte operates ParkEasy – a mobile application software that not only lets drivers park quickly in shopping malls and other locations but also the only service in Malaysia to offer a pre-booked slot for electric vehicle (EV) charging.

Commenting on the deal, Shell general manager (mobility) Seow Lee Ming said: “Decarbonising mobility and enabling better services to our customers through digital innovation are core to our ‘Powering Progress’ strategy.

“We intend to make investments that will help us serve our customers better through the energy transition and pressures of modern living.

“We value this opportunity to partner with a young Malaysian startup and believe our combined strength will help us develop superior mobility products and services for our customers.”

ParkEasy would continue to operate under its existing management and name.

Over the last three years, ParkEasy has grown its business from a parking reservation app to include other offerings such as sales of its proprietary smart-parking solutions and EV charging bay management systems.

“At ParkEasy, we continually look for new and easier ways for people to enjoy an upgraded parking experience.

“We are excited to have Shell as a partner, especially as it supports our vision and belief that people should always utilise their most valuable resource and time on things that truly matter to them,” said Pixelbyte chief executive officer Warren Chan.