Swiss startup enabler Seedstars raising capital for Myanmar operations

Photo: Juliet Shwe Gaung.

Seedstars Group, a Switzerland-based global platform supporting tech entrepreneurship in emerging markets, is raising capital to expand its operations in Myanmar, said a top executive of Thura Swiss, which is advising Seedstars on the capital raising and market entry.

Seedstars is planning to establish an entity in Myanmar along with an investor and is open to a capital of sub $5 million, said Alec Maurice, director, business development of Thura Swiss.

The actual fund raising will be dependent on discussions with potential investors.

Seedstars is aiming to be at the forefront of the tech entrepreneurship ecosystem in the frontier market by bringing international expertise along with local know how through its multi-channel platform.

The second phase will involve deploying portfolio investments, which have been internally developed around the globe to Myanmar, across the verticals of fintech, edtech, health-tech and agri-tech.

“Now is the perfect time for us to launch our operations in Myanmar. The country has a generation of young, smart and connected entrepreneurs, who are looking to solve everyday issues in this rapidly growing country. Seedstars will be able to bring the appropriate added value to create leapfrog development.” said Michael Weber, co-founder of Seedstars.

The key activities of Seedstars in Myanmar would be to drive company building through incubation, investments (to be made in the near future) and establishing a tech ecosystem, said Maurice, during an interaction with DEALSTREETASIA.

It is also looking at bringing in Seedspace, an arm of Seedstars Group, that handles co-working and co-living activities in over 25 countries.

Activities like pitching competitions, boot camps, hackathons, industry workshops, mentoring sessions are also on the drawing board. Besides, it is also exploring with the idea of setting up an academy to train local entrepreneurs.

Seedstars’ has previously held the Seedstars World competitions in Myanmar to choose top local talent to compete at the global stage. Seedstars Yangon competition in June 2017 saw logistics startup Kargo head to Switzerland for the global Seedstars World summit.

Others contributing to Myanmar’s tech ecosystem include Phandeeyar, an innovation lab, Lithan, a Singapore-based private education institution, and New Westminster Co Ltd, which is holding a University hackathon challenge in Yangon.

Also Read: 

Logistics startup Kargo wins Seedstars Yangon, to compete for up to $1m funding

Myanmar: Seedstars Yangon winner Digital Royal Net to get upto $1m funding, chance to expand

Myanmar: Local startups Chate Sat, White Merak bag six-digit funding

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.