Singapore-based media association E27 has sealed a SG$3 million (US$2.2 million) Series A turn as it looks to redevelop its tech-focused news website and events business following some tough times.
The association formerly lifted seed rounds, a many new being a $650,000 lift final summer, and there had been talk of new financing for a past month or so. Now a association has reliable a lift from a brood of new investors any of whom is concerned in early-stage tech. The round was led by China-based TechTemple Group with appearance from Linear Venture (also China), Indonesia’s Convergence Ventures and Singapore-based duo Venturecraft and try builder Spacemob.
E27 is best famous in Southeast Asia for a news site — e27.co — and a long-running Echelon events business. First founded in 2007, it has endured a severe past year that included creation layoffs and ubiquitous restructuring. With new income in a bank, though, E27 CEO and co-founder Mohan Belani plans to make new hires opposite a association to grow a editorial and events teams, as good as strengthen newer businesses that embody a job listings service, Crunchbase-style database and ‘marketplace’ where third-parties offer bundled deals.
“The design here is to be an ecosystem actor not only media,” he told me in a phone interview. “Media was a initial incursion though we satisfied that, as a association grows, hurdles evolve. Our database and marketplace come together to offer a larger village — span them with events, and you get a good online-to-offine mix.”
Belani pronounced that E27 will work with a new investors in a sincerely approach manner. He hinted that could meant events in China in sync with TechTemple Group, that provides a operation of services to assistance startups including co-working spaces and incubation services, or Convergence Ventures, that is focused on early-stage investments in Indonesia. Likewise, a other investors have a dedicated early-stage participation that could also meant some-more intensity for tie-ins.
“A lot of a concentration will go to events and online, we’re looking during being some-more heavily focused on a Southeast Asia marketplace [because it is] the area we know best and work we know best,” Belani added, observant that a tech communities in China and India are increasingly looking at Southeast Asia’s potential.
Tech In Asia is E27’s large opposition in terms of editorial and a events business. Tech In Asia has lifted scarcely $7 million to date, including a $4 million turn final year, and it has some-more than 70 staff operative on a business, that also includes Techlist, another Crunchbase-esque analytics use for Asia that graduated Y Combinator. Those dual aside, other blogs that concentration on tech news opposite Southeast Asia embody Digital News Asia and Deal Street Asia.