Philippine live streaming app Kumu raises nearly $5m Series A led by Openspace Ventures

Philippine live-streaming app Kumu has raised around $4-5 million in Series A funding led by Openspace Ventures, according to a statement.

The round was joined by Filipino broadcaster ABS-CBN, Gokongwei-backed Summit Media, and Globe Telecom and Ayala Corporation’s venture arm, Kickstart Ventures. These three entities are owned by the Lopez, Gokongwei and Ayala families respectively, making this an extremely rare co-investment by some of the most powerful business families in the Philippines.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter