SINGAPORE, Apr 4, 2024 - (ACN Newswire) - Singapore’s myFirst Tech Holdings Pte Ltd’s (“myFirst”) has appointed SGX Mainboard-listed Fu Yu Corporation Limited (“Fu Yu”) as its exclusive contract manufacturer to propel a major North American expansion of its kid-safe digital platform. The two homegrown companies signed a S$15 million contract today for Fu Yu to commence mass production this month.Fu Yu's Group CEO Mr David Seow, with myFirst's co-founder and CEO G-Jay Yong in front of myFirst's retail store at Suntec City
Fu Yu's Group CEO Mr David Seow, with myFirst's co-founder and CEO G-Jay Yong in front of myFirst's retail store at Suntec City
The pioneer of the world’s first kids’ tech ecosystem, myFirst’s myFirst Circle app allows each child to build a unique digital community that is parentally secured to interactions with trusted family and close friends. Through this kid-safe network, children can socialise and share experiences using myFirst’s products, such as watchphones, cameras, earbuds, 3D pens and headphones. Parents will have classification capabilities and also be able to track a child’s whereabouts.
There is an increasing awareness among parents and educators about the importance of social media safety, as many children start to engage with such devices before the age of 5, while nearly one-in-five children under 12 have their own smartphone.[1] These technologies, while offering new learning and development opportunities, carry significant risks in terms of privacy, inappropriate content and safety.
myFirst addresses this gap by offering a unique ecosystem of child-centric tech products that marries the physical interactivity of hardware with real-world technology tailored for children, offering a holistic experience that meets the demands of a parent’s educational goals and a child’s curiosity.
Following a Pre-Series A funding round from Lynx Asia Partners and angel investors, myFirst is set to expand its presence in North America, increasing from 4,000 to over 20,000 locations, including major retailers like Walmart, Costco, and Best Buy. With 46.6 million children under 12[2] in the US, myFirst is well-positioned to meet the rising demand for kid-safe technology. The company, already operating in 40 countries, previously received investments from tech founders and executives from companies like PatSnap, Google, Rainforest, TNB Aura, and Zopim in 2022.
Singapore-headquartered Fu Yu is one of Asia’s largest manufacturers of high-precision plastic products. It will provide a full suite of solutions to manufacture and assemble myFirst’s products. Fu Yu will scale up production, supported by its Smart Factory in Tuas which includes new production introduction and rapid prototyping capabilities, metal 3D printing, liquid silicone rubber injection moulding and high- precision tool fabrication.
Depending on myFirst’s requirements, component production can be manufactured across Fu Yu’s six facilities located across Singapore, Malaysia and China, providing a high level of interoperability and flexibility. Fu Yu’s strategic geographical distribution also ensures a robust supply chain, facilitating efficient cross-border logistics and reducing turnaround times.
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