Insignia Ventures invests in Singapore B2B marketplace Eezee

Photo: Josue Isai Ramos Figueroa/ Unsplash

Eezee, a Singapore-based online business-to-business marketplace for industrial hardware and supplies, has raised an undisclosed sum in seed funding from Insignia Ventures Partners to extend its platform overseas, according to an announcement.

Established in 2017, the startup connects local suppliers to corporate clients, leveraging technology to help both parties make informed decisions. The company offers a secure platform for buyers and sellers to transact.

The investment will go towards Eezee’s business expansion in Asia as the team focuses on acquiring corporate customers beyond Singapore.

The Enterprise Singapore-backed startup is looking to become the first marketplace in Southeast Asia to support convenient and seamless business trade in the maintenance, repair, and operations (MRO) industry, according to a statement.

Eezee claims that it has acquired over 5,000 business accounts in Singapore. It has also listed 600 distributors, suppliers, wholesalers on the platform with over 70,000 SKUs. The startup earlier received a six-figure grant from Enterprise Singapore. 

“We have seen many startups attempt to plug the gap in building a marketplace for businesses. Eezee stands out in its ability to offer solutions for enterprises that boost productivity and save costs. The company’s financial track record is a testament to their product-market fit,” said Pinn Lawjindakul, Principal, Insignia Ventures Partners.

Beyond the investment, Insignia Ventures Partners will support the Eezee team in building connections beyond Singapore and providing strategic counsel on various business, operations, and marketing decisions.

Launched in 2017 by former Sequoia Capital venture partner Yinglan Tan, Insignia Ventures closed its debut fund at $120 million last year. Pavilion Capital, a subsidiary of Singapore’s state investor Temasek Holdings, was an anchor investor in its first fund.

We have recently reported that Insignia Ventures Partners is raising a $150-million second fund focused on Southeast Asia.

The firm sees Indonesia, Vietnam and the Philippines as its three key markets and it is bullish on healthcare and education investments.

 

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.