Insignia Ventures Partners has led a $1.2 million seed round in Vietnam-based podcast startup Waves. In a separate development, venture capital firm Lakson Investments Venture Capital has led a $725k funding in a pre-Series A round in Pakistan-based online fresh produce and grocery delivery service MandiExpress.
Insignia Ventures Partners leads $1.2m seed round in Waves
Insignia Ventures Partners has led a $1.2 million investment in a seed round in Vietnam-based podcast startup Waves, according to an announcement.
The round also saw the participation of Hustle Fund, Skystar Capital and a slew of Asian and Silicon Valley angel investors.
The corpus raised will help Waves launch its audio podcast app in Vietnam on February 28, and expand its operation in the Southeast Asian region.
The startup said it will closely work with content creators in Vietnam to promote podcasts.
“The dominance of audio platforms like Spotify makes us believe that audio content is the next development of digital content, and this development has come to Southeast Asia,” said Yinglan Tan, founding managing partner of Insignia Ventures Partners.
Waves said it has developed over 30 original programmes, 50 content partnerships and more than 500,000 other contents.
These contents are available in multiple languages.
Lakson Venture leads pre-Series A round in MandiExpress
Pakistan-based online fresh produce and grocery delivery service MandiExpress has raised $725,000 in a pre-Series A round led by venture capital firm Lakson Investments Venture Capital (LIVC), per a report by local media.
The proceeds from this funding round, which was joined by existing private investor Disrupt, will be used by the company to expand its operations across the country.
Founded in 2015 by Jehanzeb Chaudhri, MandiExpress provides consumers fresh produce and groceries through its platform.
The firm said in its website that it sources produce from New Sabzi Mandi, from the same suppliers that supply products to 5-star hotels, upscale restaurants and grocery stores in Karachi.
LIVC is a technology-focused pre-Series A venture capital fund regulated by the Securities & Exchange Commission of Pakistan (SECP). It is one of the largest private-sector asset managers in Pakistan with over $300 million under management.
Recently, the venture capital firm has co-led $2 million series A equity funding in Pakistan-based edtech startup Knowledge Platform. The firm had earlier led a pre-Series A funding round in transport and events e-ticketing platform Bookme.