Existing investors Gentree Fund, Robinsons Retail Holdings, Kickstart Ventures, Innoven Capital, Foxmont Capital Partners, and angel investor Lisa Gokongwei-Cheng also participated in the oversubscribed fundraise, edamama said.
The startup said it will use the fresh funding to expand its operations, including same-day and next-day delivery solutions, to more locations across Metro Manila and beyond.
edamama also plans to enhance its content and community elements and launch its own offline stores and scale its private label portfolio.
The startup has pioneered multiple market-first parenting innovations, including the country’s first online gift registry, subscription services for everyday essentials, and an integrated portal for content and services.
The latest funding round, which is one of the country’s largest early-stage rounds, comes about a year after the startup raised $5 million in its pre-Series A round from a consortium of strategic investors comprising Gentree Fund, Robinsons Retail, Kickstart Ventures, and Foxmont Capital Partners.
edamama was launched in Metro Manila in May 2020, during one of the world’s strictest pandemic lockdowns, by husband-and-wife founders Nishant D’Souza and Bela Gupta.
The platform offers a personalised shopping experience through content, community, and commerce-driven strategies that simplify decision-making for parents, said edamama.
edamama has also pioneered multiple market-first parenting innovations, including the country’s first online gift registry, subscription services for everyday essentials, and an integrated portal for content and services.
According to the announcement, the Series A funding was secured on the back of a 100x growth edamama achieved amidst the global pandemic, which precipitated the need for a safer and more trustworthy approach to digitally accessing products and services for families across the Philippines.
Eko Kurniadi, partner of Investments at Alpha JWC, said parents in the Philippines have limited options for quality products, and there is also a dearth of credible platforms for product reviews.
“edamama fills that buyer confidence gap by giving parents access to the best shopping experience with a wide range of quality SKUs, and trusted by a strong community that supports parents on their most exciting journeys.”, Kurniadi said.
In April, Alpha JWC announced that it has deployed more than $100 million in investments from its third fund in the first three months of 2022.
The early-stage VC had raised $433 million for its Fund III last year from global and regional investors, including IFC, Morgan Stanley Asset Management, and a slew of family offices, exceeding its initial target of $250 million.