By Juliet Shwe Gaung
Lead investors include China Reform Fund, Atlas Capital Group, SFund International Holdings Limited, Technology Financial Group and Bohai Capital Holding Company.
The company said it will use the fresh capital to continue to leverage its technology and data capabilities to drive increased efficiency for the overall warehousing industry.
The trend reflects a maturity in the ecosystem, cost increases and increased faith in founders, according to investors.
The micro-fund, which will focus on B2B e-commerce, platform-as-a-service (PaaS), health tech and logistic firms, marks Gobi Partners’ entry in the Philippines.
“We are seeing that motion build-up in India and we are having more conversations. India is a place where we will be making more trips going ahead,” said Matt Garratt, managing partner, Salesforce Ventures, on the sidelines of Dreamforce 2018.
Bhaichung Bhutia’s TALISMAN has raised funding from CarWale founder Mohit Dubey, and Zomato co-founder Pankaj Chaddha.
VC funding in the first eight months of 2018 stood at $3.16b, compared with $2.72b last year.
The first close was led by Chanond Ruangkritya, founder of real estate developer Ananda Development PCL, and Sittichai Leeswadtrakul, CEO and President of steel firm Millco.
To date, the startup has raised a total of over $72 million across five financing rounds since its inception in 2015.
Till date, BlackBuck has raised a little over $130 million in external funding.