Here are the startup and venture deals we tracked across the Asian region today.
E-commerce enabler Etaily raises $17.8m to expand in SEA
To capitalize on the rapid growth of digital consumers in the Philippines and broader Southeast Asia, Philippine-based e-commerce enabler Etaily has successfully raised $17.8 million in a recent funding round to expand its operations.
The recent funding round follows a $1.6 million seed funding in 2021, which later rounded it up to a total of $5.9 million. To date, Etaily has raised a total investment of $23.7 million.
Founded in 2020, Etaily offers a range of services to brands, including brand-building services, customer relationship management, and marketplace management. Currently serving over 50 global consumer brands, including Levi’s, Sketchers, and Dyson, the company has experienced a threefold increase in gross sales this year, with projections to reach $100 million in the coming years.
The new capital infusion will be utilized to strengthen its presence in Southeast Asia, enhance its distribution platform for brands, expand its brand portfolio, and advance its proprietary technology.
South Korea's Modhaus bags $8 million in Series A
Seoul-based Modhaus, an entertainment agency using blockchain for fan engagement, has raised $8 million in its series A funding round led by US-based investment firm Sfermion and participation from SM Culture Partners, Laguna Investment, KDDI Open Innovation Fund III, and Foresight Ventures
Founded in December 2021, Modhaus operates a blockchain platform called Cosmo, which helps fans participate in the decision-making processes of their favorite idol groups.
The new round pushes the company’s total funds raised to $12 million.
Augmentus raises $5m to expand no-code robotics solution globally
Singapore-based firm, Augmentus, which offers a no-code robot programming platform for industrial automation, has raised a US$5 million series A funding round.
Augmentus which aims to make robot programming easier and more accessible to anyone, even those with no robotics experience, plans to use the funds to grow its operations in the US, Europe, and greater Asia and to meet increasing customer demand.
Follow our full coverage of the Asian startup and technology scene and get up to date with what's happening in the key markets within the region.