Myanmar: BOD Tech leads Series A round in bus ticketing software firm Innoveller

Photo: Team members of Innoveller Co Ltd and BOD Tech Ventures.

BOD Tech Ventures, a Myanmar-based venture capital, has invested an undisclosed Series A amount in Innoveller Co Ltd,  a software as a service (SaaS) provider for bus ticketing solutions.

The funding has enabled the startup to reach a post-money valuation of a seven-digit US dollar amount, according to an announcement on January 5.

The three-year-old Innoveller has brought bus seat inventory of all major routes in Myanmar onto its platform. The startup will use the proceeds to further expand its team and range of products.

The company has facilitated transactions of 800,000 bus tickets transacted monthly, covering over 110 local destinations in Myanmar.

“Investing in Innoveller confirms our commitment to backing promising Myanmar startups and compliments our current travel portfolio. The founders are an experienced, A-star team coming from management, financial and IT backgrounds,” says Mike Than Tun Win, CEO of BOD Tech Ventures.

BOD Tech Ventures is not new to this vertical having invested in Star Ticket, an online bus ticket booking platform, in 2016.

Innoveller is led by Kyaw Kyaw Win, Singapore Management University alumnus, Wai Phyo, ex-Oracle financial senior application engineer and Kyaw Soe, Hendrix College alumnus.

“We are bullish about the long-term growth prospects of inter-city bus travel industry in Myanmar; it is the main way for people to travel in Myanmar, both locals and foreigners,” said Kyaw Kyaw Win, co-founder of Innoveller Co Ltd. Win was previously with Euler Hermes, a leading French credit insurance company.

“As this industry grows, we will continue to work closely with our clients to deliver a better customer experience for bus ticket buyers across the country and internationally with our digital solutions. We believe that providing these tools will allow local bus operators to run their business operations more efficiently, and also tap into other e-commerce opportunities going forward,” said Win.

BOD Tech Ventures’ portfolio includes online travel agency Flymya.com, travel portal Go-Myanmar.com,  mobile education platform DedaaBox,  local content creator Myanmar Online Creations, food delivery startup Yangondoor2door, e-commerce platform shopmyar.com, and Laundry.com.mm.

Also Read:

Bus booking platform Star Ticket raises $200K series A from Myanmar BOD Tech

Travel portal FlyMya buys Go-Myanmar.com for six-digit sum

Myanmar: BOD Tech leads funding in mobile learning platform DedaaBox

 

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.