Singapore-based software-as-a-service startup TradeGecko has secured a $10 million Series B round led by TNB Aura Fund 1 and Aura Venture Fund, according to an announcement today.
The round was joined by Perle Ventures and 33 Capital and takes the total funding raised by TradeGecko to over $20 million. The fresh capital raised will be used to grow TradeGecko’s product suites.
“We see a massive opportunity to provide the back-end systems of SMB commerce on a global scale. With the rapid growth of SMBs around the world, partnering with Aura enables us to leverage their market knowledge and extensive network. With the latest funding, we will continue to invest in solving our customers’ most challenging operational challenges,” said TradeGecko CEO, Cameron Priest.
A joint venture with Singapore’s TNB Ventures, Aura Group’s maiden Southeast Asia Venture Capital investment vehicle – TNB Aura Fund I invests up to S$3 million into seed to Series A stage startups.
Aura Venture Fund focuses on investments in growth and expansion stage – Series A or B – businesses. The fund was launched in May 2016 with a target size of A$30 million ($22.11 million).
Founded in 2012, TradeGecko is a cloud-based inventory management SaaS provider with an aim to automate and reduce workflow inefficiencies. The startup last raised a $6.5 million Series A round from Singapore VCs OpenSpace Ventures (formerly NSI Ventures) and Jungle Ventures.
TradeGecko is headquartered in Singapore with another North American HQ in Toronto. The startup was incubated by accelerator Joyful Frog Digital Incubator (JFDI) and now serves over 13,000 users in over 90 countries, according to its website.