Myanmar-based early-stage investment firm Emerging Markets Entrepreneurs (EME) has led a six-digit seed round in Ezay while e-commerce service company Intrepid Group has raised an undisclosed Series A funding led by Kairous Capital.
EME leads six-digit seed round in Ezay
Myanmar-based early-stage investment firm Emerging Markets Entrepreneurs (EME) has led an led a six-digit seed round in Ezay, a Yangon-based rural e-commerce startup, according to a statement.
Founded in August 2019 by ex-Oway employee, Kyaw Min Swe, Ezay is a mobile platform connecting rural ‘mom and pop’ shops with wholesalers. The startup plans to expand its coverage across the country and also widen its service offerings.
“We often hear people talking about ‘digital leapfrog’ in Myanmar but this investment really represents the value that mobile solutions can bring to rural communities across the country. Kyaw Min Swe is a great founder and we’re very excited to support him with his mission,” EME investment director Hitoshi Ikeya said.
EME focuses on ‘tech-plus’ companies that are layering technology on top of existing networks and industries. It has made six investments in Myanmar to date: CarsDB, Joosk Studio, Lan Thit Masterpiece, Mote Poh, Yangon Broom and Natural Farm Fresh.
E-commerce B2B firm Intrepid secures Series A
E-commerce service company Intrepid Group has raised an undisclosed amount in a Series A funding round led by venture capital firm Kairous Capital, according to an announcement.
Sun SEA Capital and 500 Startups Vietnam also participated in this round.
Intrepid enables e-commerce sales by offering store management and online marketing services. The Singapore-based company also offers integration with third-party logistics providers.
It has operations in Vietnam, Philippines and Indonesia and aims to expand across Southeast Asia.
Kairous Capital is a cross-border venture capital firm focusing on China and Southeast Asia with offices in Kuala Lumpur, Shanghai and Hong Kong.