The startup, which provides long-range mobility software, plans to use the fresh capital to expand its inventory as well as drive revenue through additional monetisation strategies.
The business provides ticketing and route management software solutions to bus, train, and ferry operators across the region. Of the regions estimated 5,000 route operators, Easybook says it services over 1,200.
Operating in Malaysia, Singapore, Indonesia, Myanmar, Cambodia, Laos, and Brunei, Easybook currently manages $1.6 billion worth of regional long-range travel inventory in an industry estimated to be worth north of $11 billion annually.
“The capital from this investment will go a long way in expanding our presence and growing our inventory,” said Easybook managing director William Lee.
He added that the investment will be key as the company lines up for listing in the coming years.
Malaysia’s Babydash bags $300,000 and other SE Asia deals
Malaysia-based e-commerce platform for baby products Babydash has raised 1.27 million ringgit ($300,000) in a bridge funding round.
The round saw the participation of the Malaysian government via the Malaysia Co-Investment Fund (MYCIF), the company said in a statement.
This is Babydash’s second round of fundraising via equity crowdfunding on the pitchIN platform. In 2017, the company had raised 2 million ringgit via the platform, which led to a threefold revenue expansion and a 46% year-on-year growth.
Proceeds from the new round will be used to boost its market presence in Malaysia, as well as growing its Singapore market which it penetrated in 2019. Babydash also plans to double the size of the company in the next 12 to 18 months.
Founded in 2011, Babydash is a one-stop online store for parents. It boasts an 180,000-strong parenting community base, along with direct partnerships with brands and a supply chain ownership that guarantees delivery within 48 hours.
PH e-commerce platform Edamama raises $5m
Edamama, a Philippine-based e-commerce platform targetting Filipino mothers, announced raising $5 million in its pre-Series A funding round led by Gentree Fund, the venture vehicle for the Sy Family Office.
Philippine-based early-stage venture capital firm Foxmont Capital Partners, Robinsons Retail, and local VC firm Kickstart Ventures also participated in the funding round that Edama will partly use to expand its warehouse capabilities and improve its delivery services.
The e-commerce startup was launched amidst the pandemic by its founder Bela Gupta D’Souza. The firm said it addresses the issue of quality, as well as the other challenges common among today’s e-commerce platforms, such as channel fragmentation, non-established brand trust, the lack of discovery-led buying experience, and poor customer service.
Gentree Fund, the lead investor in the funding round, is the newly-launched investment vehicle of the Sy Family Office, which runs the retail giant SM Group. The fund has allocated an initial amount of $40 million to invest in Philippine startups and Southeast Asian firms looking to expand into the country.
SOUTHEAST ASIA DEAL MONITOR
DealStreetAsia has also put together a table listing out prominent venture capital transactions in Southeast Asia in the week beginning July 12.