917Ventures, the corporate venture builder arm of Philippines-listed Globe Telecom Inc, announced investing a total of 7.5 million pesos ($150,000) into three local startups — Fanlife, KodeGo, and BentaTV. According to the statement, each of the startups will receive 2.5 million pesos ($50,000) in initial funding.
Fanlife is an online community for K-culture fans while KodeGo is an IT skills training provider for increased employability. The two startups were part of the first batch that joined 917Ventures’ Velocity Bootcamp last December.
Velocity is a three-month boot camp that brings external talent and ideas to 917Ventures to help it identify ventures with growth levers and network advantage of operating within 917Ventures and Globe, the company said.
Fanlife brings K-culture fans closer to K-Pop or K-Drama through exclusive experiences such as virtual concerts and live streams, and official merchandise.
Meanwhile, KodeGo, is an online bootcamp for those who would like to learn or improve in various areas of IT to help them land the right jobs. The startup offers a “learn now, pay later” model to keep the financial stress away from the students.
The third startup, BentaTV, came from 917Ventures’ internal Venture Builder programme. BentaTV founder Gio Tantoco said the startup provides a platform that simplifies live-selling and social media selling processes for informal merchants who are non-tech savvy.
“We envisioned BentaTV to make it smoother for these sellers to make the transition,” said Tantoco.
917Ventures’ portfolio companies include AdSpark, a data-driven advertising agency in the Philippines; e-wallet firm GCash; primary care provider HealthNow; telehealth company KonsultaMD; online grocery shopping platform PureGo; and SaaS provider Rush.
“We are happy to find ideas that are aligned with our vision of improving the digital lifestyle of Filipinos and helping solve social issues through technology,” said 917Ventures managing director Vince Yamat.