Other investors in this round are Global Innovation Fund, MDI Ventures & Endeavor Catalyst.
By Tomas S. Noda III
The deal follows Ayala’s investment in ePharmacy startup Wellbridge Health.
DEALSTREETASIA handpicked 14 promising startups that are interesting to watch in 2017. These groups are into fintech, real estate, transportation, software, cloud services, business applications, mobile gaming, and human resources.
The partnership will see AirAsia BIG, the loyalty program for AirAsia and the Tune group of companies, leverage on ZAP’s platform to allow BIG members to earn and redeem points from daily purchases at physical stores with just a mobile number.
FNV chief executive officer, principal investor & advisor John Orrock, said the latest investment has improved the firm’s portfolio of startups engaged in online marketing lead generation solutions.
Ritmo is the creator of Joomajam, a social enterprise focused on Early Child Development. The Joomajam app serves as a teaching tool that provides culturally-relevant and bilingual content for pre-school to Grade 3 kids.
For the past two years, the Philippine startup community has consistently made developments, but despite all these, the country has yet to give birth to a startup ecosystem.
It was the first co-investment made by the two companies and also marked the first investment of Plug and Play in the Philippines. Kickstart Ventures is Globe Telecom Inc’s wholly-owned corporate venture capital subsidiary, backed by SingTel and the Ayala Corporation.
Swiss-based philanthropic impact investor eala Foundation for Ethics in Globalization has invested in BagoSphere, a social enterprise startup in the Philippines addressing youth unemployment.