Myanmar: Anthem Asia invests in local creative digital agency Revo Tech

Anthem Asia, an independent investment and advisory group made an undisclosed, six-digit investment in Revo Tech, a Yangon based creative digital agency that is well-known for an educational app named “Phew”.

The investment will be made into Phew Tech Pte Ltd – Revo Tech’s Singapore registered parent company-  and Anthem Asia will become the largest minority shareholder in Phew Tech, according to an announcement by Anthem Aisa.

Myo Myint Kyaw, founder and chief executive officer of Revo Tech started the team since 2012 after finishing his studies from UK and working in Singapore.

“We are delighted to back Myo and his team and their ambitious plans for both the digital agency services business and the company’s app suite,” said Genevieve Heng, co-founder and director of Anthem Asia.

The investment will help Revo Tech add new modules to their educational app, and also aid it offering digital solutions ath are mostly website-based or mobile app-based solutions, with an e-commerce element; as well as management of clients’ social media channels such as Facebook, LINE and BeeTalk.

With an ambition to become a leading digital agency, Revo Tech plans to expand its human resources,Myo Myint Kyaw told DEALSTREETASIA. The team currently employs about 40 people.

“Revo Tech gives companies the online presence they need that will help guide the development of Myanmar as it becomes a significant Southeast Asian market in the coming years,” said Heng.

The Ministry of Communications and Information Technology states that with a population of about 51 million, Myanmar’s telecom penetration has grown from around 10 per cent in 2013 to over 60 per cent by September 2015. .

Clients of Revo Tech include high-profile companies like Nissan, the World Bank, Ooredoo and also some local clients like KBZ Bank and Citymart supermarket.

“With Anthem Asia as a partner, we will be able to accelerate our growth, enabling us to take our services to more clients and to offer a greater range of products and services,” he said.

It also plans to expand their work of being a “web factory” providing services specially to small and medium sized enterprises that require a more basic digital presence.

Revo Tech is one of the several investments that Anthem Asia has made in the past two years. In 2015, the firm invested in mobile data collection platform Xavey, which converts paper-based research forms into digital applications, and the newly opened MOVE, an international standard fitness and wellness facility situated in downtown Yangon.

Other invetments include two marketing communications businesses, Blink Agency and Zagar Communications, Hintha Business Centers and Thahara.

Also Read:

Anthem Asia invests in Myanmar’s mobile data collection startup Xavey

Blink Features ‘True Tales from Myanmar Startups’ Panel discussion

India: Digital touch points for brands, local language content to drive advertising strategy

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.