Media startup e27 gets US$615K round of funding from B Dash Ventures
Singapore-based media startup e27 has announced a second round of funding today, in the amount of S$760,000 or about US$615,000. Said funding will be used by the media organization to expand its operations into the Asia Pacific region, with an initial focus on Thailand, Indonesia and the Philippines. This comes after e27 rebranded from e27.sg into e27.co, to highlight its growth outside of Singapore to a bigger regional and global audience.
In a statement, Co-founder and CEO Mohan Belani highlighted the company’s goals with this financing round.
We are looking at increasing the editorial team around Southeast Asia and focusing on our key markets (Thailand, Indonesia and Philippines). Our key priorities right now are working closely with our partners and building our Echelon event around the region.
e27’s flagship event is the annual Echelon startup conference, which brings together startup founders, investors and other interested stakeholders. e27 also holds Satellite events in various countries around the region.
Read the press release below.
Disclosure: The author is part of the e27 editorial team.
**** Press release ****
e27 Secures Investment From B Dash Ventures and Regional Investors
[Singapore] 14 February 2013 – Today, e27 announced that it has secured a SGD$760,000 round of funding with B Dash Ventures and regional investors Pinehurst Advisors (Taiwan), Ardent Capital (Thailand), Dan Neary (Singapore) and angel investors. With this investment, e27 will expand its operations in Southeast Asia, including partnerships/joint ventures, grow it’s editorial teams and expand the influence of Echelon, the region’s largest tech startup event, into more cities around Asia..
As a company, e27 was profitable in 2012 with year on year revenue growth of over 20%. The investment in e27 sees an increasing interest in Southeast Asia’s tech industry as a growing market. Through companies like e27, that maintain a regional presence through editorial and conferences like Echelon, the industry is better connected and there are more opportunities within the region and with wider Asia itself.
Hiroyuki Watanabe, CEO, B Dash Ventures said, “B Dash Ventures is very pleased to invest in e27,with its track record of stimulating startup ecosystems across Asia. We are excited to contributefrom Japan to help grow e27 into becoming Asia’s largest and most influential media company. With e27’s involvement in various Asian startupecosystems,it should also become easier for Japanese startups to expand their businesses to Asia, as well as facilitate a greater flow of information between Japan and other regions.”
e27 will increase its focus and operations in Southeast Asia. With editorial teams and contributors around the region, the company will continue to expand its editorial presence in key SEA cities. The news site has also adopted the e27.co domain to mark this regional focus and direction, in lieu of its previous domain, e27.sg
e27 will also be increasing it’s offering of products and services in 2013. Echelon, the flagship conference by e27, will feature a much higher caliber of startups, speakers and investors and more satellite events around the region. e27 will also widen its Founders Drinks Networks and Echelon Ignites in major cities around Asia.
Mohan Belani, CEO & Co-Founder, e27, shares his thoughts on what closing this round of funding means for the company, “We’re excited that our investors share our vision of being the best resource for the tech ecosystem in Southeast Asia. We’re passionate about this industry and we believe that the next generation of global companies will come from this region. We will continue to build e27 as a platform where Southeast Asia’s most innovative technology, businesses and people can be found and celebrated.”
Mr Hiroyuki Watanabe joins the board together with existing members Nic Lim (8capita) and Founders, Mohan Belani and Thaddeus Koh.