Startups from Myanmar accelerator Phandeeyar secure funds

Photo: Juliet Shwe Gaung. A team member participates at the technology investor event at Phandeeyar.

Myanmar tech hub Phandeeyar has announced that four teams from its startup accelerator successfully completed an intensive six-months coaching programme and secured $25,000 as seed money in the form of a convertible note.

The four startups are comic book app White Merak, freelancers’ platform Chate Sat, tour packages comparison portal GoP and booking site for hotels and guesthouses Ezstay.

The teams were exposed to a network of investors including Digital Ventures, Omidyar network, Anthem Asia and BOD Tech.

“They have all built their product and shown that there’s demand for it in the market. We hope investors will get behind these startups and give them the financing that they need to take their companies to the next level,” said David Madden, founder and CEO of Phandeeyar Myanmar Innovation Lab.

In another development, six Myanmar-based startup teams, representing the civil society and technology space, bagged seed capital of $40,000 each after winning a competition held by Phandeeyar, a local accelerator.

The six teams have received $10,000 each. They will be given three months to launch their prototype before they make another pitch to raise the $30,000. The two-day Civic Tech competition attracted interest from 40 teams.

Civic Tech Competition is a joint initiative by Phandeeyar and FHI 360 and supported by USAID.

Also Read:

Myanmar: Phandeeyar sets up accelerator, to invest $200k in 8 startups in 2016

Myanmar tech hub Phandeeyar gets $2m from repeat investor Omidyar

Exclusive: There is a lack of risk capital for tech startups in Myanmar, says David Madden, Phandeeyar

 

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.