Evlos is an artificial intelligence (AI) company that provides AI-powered computer vision solutions to manufacturers all over Malaysia.


Announced last month, the company secured its first institutional funding round from Kumpulan Modal Perdana (KMP), a tech-focused venture capital owned by the Minister of Finance (Incorporated), which will be used to expand the team and power growth ahead.


Shankar and Rahul, the Co-Founders of Evlos, will walk us through the shift from Cedar Technologies to Evlos and the value proposition today, how they’ve built this business over the last 5 years, and their ambitions ahead.

Evlos is an artificial intelligence (AI) company that provides AI-powered computer vision solutions to manufacturers all over Malaysia. Announced last month, the company secured its first institutional funding round from Kumpulan Modal Perdana (KMP), a tech-focused venture capital owned by the Minister of Finance (Incorporated), which will be used to expand the team and power growth ahead. Shankar and Rahul, the Co-Founders of Evlos, will walk us through the shift from Cedar Technologies to Evlos and the value proposition today, how they’ve built this business over the last 5 years, and their ambitions ahead.

The flagship entrepreneurship show on BFM, featuring personal business stories from early stage start-ups, all the way to billionaire octogenarians in Malaysia and abroad. Notable guests include Martin Cooper (father of the mobile phone), Julian Assange (founder of WikiLeaks), Ralph Henry Baer (father of video games), Tony Buzan (Mindmap Guru), Isaac Tigrett (Hard Rock Cafe founder), Robert Kiyosaki (Financial Guru), Nick Vujicic (motivational speaker) and more. Tap into this valuable resource of shared experiences for the SME industry, which also touches on news, issues and trends affecting the business community and beyond.

Open For Business

Discover fresh concepts, tackle obstacles, and unleash growth - Open For Business is the dynamic show where BFM engages with entrepreneurs, business leaders, and industry trailblazers, igniting inspiration, sparking success, and exploring new business models.

Evlos: AI-Powered Computer Vision for Better Manufacturing

Leaving Wall Street to revolutionize Islamic finance, solo founder Junaid Wahedna raised $82 million in his mission to eliminate interest from Muslim lives worldwide. With that funding, he built a robo-advisor model that’s profitable in the three main countries Wahed operates in: the US, the UK, and Malaysia. These markets contribute almost equally to Wahed’s approximate $1 billion in AUM. That said, Wahed is still not profitable on the group level.



However, now that the base model works, Junaid has handed the role of CEO to COO Mohsin Siddiqui, who has been tasked with replicating the business model and scaling the company into markets across the world, aiming to take Wahed from $10 million to $100 million in revenue. Junaid has transitioned to the role of Chairman to focus on overall strategy, building new products, and advancing the larger mission.



Join us on this episode of "Open for Business" as we dive into an inspiring conversation with Junaid Wahedna. He shares his entrepreneurial journey, from leaving a lucrative career on Wall Street to creating a platform that caters to the needs of the Muslim community by offering Sharia-compliant investment solutions. Junaid recounts how a taxi ride in New York sparked the idea for Wahed back in 2015, leading to raising $75-$82 million over the last nine years and establishing offices in 11 countries, including Malaysia.



Don't miss out on this captivating discussion with Junaid Wahedna, only on Open for Business.

Key Takeaways:



Inspiration from a Taxi Ride: The idea for Wahed was sparked during a taxi ride in New York when a Bangladeshi driver shared his struggle with Sharia-compliant investments. He didn't want to keep his money in a bank because he was a practicing Muslim and wanted to avoid interest, so he had put all his savings into Apple stock on the advice of his imam.


Mission-Driven Business: Wahed's core mission is to provide Sharia-compliant investment solutions, aiming to eliminate interest from all aspects of its customers' financial lives, reflecting the company's commitment to its values and the community it serves.


Organic Growth Powered by Referrals: Wahed has achieved significant growth through organic means, leveraging community trust and referrals rather than relying heavily on traditional marketing methods.


Solo Founder Success: Despite conventional VC wisdom favoring co-founders, Junaid Wahedna believes that many of the most successful entrepreneurs possess an autocratic personality and emphasizes the importance of control.


Raising Capital While Maintaining Control: Junaid successfully raised between $75-$82 million without giving up control, issuing only common stock and not giving any board seats to investors.


Global Expansion: Wahed has expanded to multiple differing markets (the US, UK, Malaysia, and UAE), demonstrating the scalability and international appeal of Sharia-compliant investment products.


Diverse Product Offerings: Wahed's product portfolio includes a robo-advisor platform, ETFs, equity crowdfunding, and a gold-backed debit card, illustrating the company's innovative approach to addressing various financial needs within the Muslim community.


Balancing Faith and Business: Junaid emphasizes the importance of balancing faith-based values with business decisions, ensuring that Wahed stays true to its mission while achieving profitability.


Efficient and Lean Operations: Wahed's ability to break even quickly in new markets, highlights the company's focus on operational efficiency and cost management. Their new UAE operations currently on track to break even within one year.


Acquisition Strategy: Wahed strategically acquires companies to accelerate growth and enhance its product offerings, such as the acquisition of a digital banking app in the UK for its infrastructure and team.

Future Plans and IPO Considerations: While an IPO is seen as a potential path for liquidity and community ownership, Wahed remains focused on its long-term growth strategy and maintaining control to continue its mission-driven work

Leaving Wall Street to revolutionize Islamic finance, solo founder Junaid Wahedna raised $82 million in his mission to eliminate interest from Muslim lives worldwide. With that funding, he built a robo-advisor model that’s profitable in the three main countries Wahed operates in: the US, the UK, and Malaysia. These markets contribute almost equally to Wahed’s approximate $1 billion in AUM. That said, Wahed is still not profitable on the group level.However, now that the base model works, Junaid has handed the role of CEO to COO Mohsin Siddiqui, who has been tasked with replicating the business model and scaling the company into markets across the world, aiming to take Wahed from $10 million to $100 million in revenue. Junaid has transitioned to the role of Chairman to focus on overall strategy, building new products, and advancing the larger mission.Join us on this episode of "Open for Business" as we dive into an inspiring conversation with Junaid Wahedna. He shares his entrepreneurial journey, from leaving a lucrative career on Wall Street to creating a platform that caters to the needs of the Muslim community by offering Sharia-compliant investment solutions. Junaid recounts how a taxi ride in New York sparked the idea for Wahed back in 2015, leading to raising $75-$82 million over the last nine years and establishing offices in 11 countries, including Malaysia.Don't miss out on this captivating discussion with Junaid Wahedna, only on Open for Business.<h3>Key Takeaways: </h3><ol><li>Inspiration from a Taxi Ride: The idea for Wahed was sparked during a taxi ride in New York when a Bangladeshi driver shared his struggle with Sharia-compliant investments. He didn't want to keep his money in a bank because he was a practicing Muslim and wanted to avoid interest, so he had put all his savings into Apple stock on the advice of his imam.</li><li>Mission-Driven Business: Wahed's core mission is to provide Sharia-compliant investment solutions, aiming to eliminate interest from all aspects of its customers' financial lives, reflecting the company's commitment to its values and the community it serves.</li><li>Organic Growth Powered by Referrals: Wahed has achieved significant growth through organic means, leveraging community trust and referrals rather than relying heavily on traditional marketing methods.</li><li>Solo Founder Success: Despite conventional VC wisdom favoring co-founders, Junaid Wahedna believes that many of the most successful entrepreneurs possess an autocratic personality and emphasizes the importance of control.</li><li>Raising Capital While Maintaining Control: Junaid successfully raised between $75-$82 million without giving up control, issuing only common stock and not giving any board seats to investors.</li><li>Global Expansion: Wahed has expanded to multiple differing markets (the US, UK, Malaysia, and UAE), demonstrating the scalability and international appeal of Sharia-compliant investment products.</li><li>Diverse Product Offerings: Wahed's product portfolio includes a robo-advisor platform, ETFs, equity crowdfunding, and a gold-backed debit card, illustrating the company's innovative approach to addressing various financial needs within the Muslim community.</li><li>Balancing Faith and Business: Junaid emphasizes the importance of balancing faith-based values with business decisions, ensuring that Wahed stays true to its mission while achieving profitability.</li><li>Efficient and Lean Operations: Wahed's ability to break even quickly in new markets, highlights the company's focus on operational efficiency and cost management. Their new UAE operations currently on track to break even within one year.</li><li>Acquisition Strategy: Wahed strategically acquires companies to accelerate growth and enhance its product offerings, such as the acquisition of a digital banking app in the UK for its infrastructure and team.</li></ol>Future Plans and IPO Considerations: While an IPO is seen as a potential path for liquidity and community ownership, Wahed remains focused on its long-term growth strategy and maintaining control to continue its mission-driven work

Why Junaid Wahedna Left Wall Street to Revolutionise Islamic Finance: The Story Behind Wahed

Established in 2012, Complete Human Network helps companies deal with their electronic equipment needs, allowing enterprises to optimise their IT budget and minimise IT-related hassles by leveraging Device-as-a-Service (DaaS) and Enterprise Mobility as-a-Service (EMaaS) solutions, packaging IT devices and software services on a subscription basis.


In today’s conversation, Chai Peng will give us a sense of the journey she’s been on with CHN and the business of enterprise mobility, the underlying business performance and growth, as well as her ambitions ahead.

Established in 2012, Complete Human Network helps companies deal with their electronic equipment needs, allowing enterprises to optimise their IT budget and minimise IT-related hassles by leveraging Device-as-a-Service (DaaS) and Enterprise Mobility as-a-Service (EMaaS) solutions, packaging IT devices and software services on a subscription basis. In today’s conversation, Chai Peng will give us a sense of the journey she’s been on with CHN and the business of enterprise mobility, the underlying business performance and growth, as well as her ambitions ahead.

CHN to Businesses: Don’t Buy Laptops, Subscribe Instead

Today we speak with Dr. Matt Kan, the Founder of Chiropractic First Group. With over two decades of experience, Dr. Kan has been advocating for chiropractic care in Malaysia, where back pain and bone and joint complications affect several million people here.


Inspired by a personal encounter with the healing power of chiropractic, Dr. Kan has dedicated his life to debunking myths and raising awareness about the vital role of our spines in overall health. He will shed light on the science behind chiropractic adjustments, and how this approach can restore mobility, relieve pain, and support the body's natural ability to heal itself.

Today we speak with Dr. Matt Kan, the Founder of Chiropractic First Group. With over two decades of experience, Dr. Kan has been advocating for chiropractic care in Malaysia, where back pain and bone and joint complications affect several million people here. Inspired by a personal encounter with the healing power of chiropractic, Dr. Kan has dedicated his life to debunking myths and raising awareness about the vital role of our spines in overall health. He will shed light on the science behind chiropractic adjustments, and how this approach can restore mobility, relieve pain, and support the body's natural ability to heal itself.

Evlos: AI-Powered Computer Vision for Better Manufacturing

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