In a significant move to bolster the local startup ecosystem, the Department of Trade and Industry (DTI) revealed that the Philippine Startup Venture Fund (SVF) now stands at about P8 billion (around $143 million). The fund signifies the capital available for investment in promising startup businesses. During the SVF Investment Committee’s community mixer event, five […]

Enstack, Southeast Asia’s first SME superapp, closed Series A of its funding round with $3 million in additional capital from investors led by Mangrove Capital Partners. This is Mangrove Capital’s first investment in Southeast Asia after a rich history of backing global tech leaders including communications giant Skype and website builder Wix. The funding is […]

Philippine fiber internet provider Converge ICT Solutions Inc. and South Korea’s KT Corporation, formerly Korea Telecom, have agreed to pursue a potential business collaboration and partnership that will support the digital transformation of local businesses by providing innovative enterprise technologies. Converge and KT Corp. signed a memorandum of understanding (MOU) that aims to extend digital […]

Startup accelerator Archipelago Labs (A-Labs) has launched a $10 million Web3 fund to invest and accelerate the growth of the most promising startups and talents in the Philippines’ Web3 ecosystem. Backed by reputable partners from the Philippine Digital Asset Exchange (PDAX), Oak Drive Ventures Inc., and Magellan Digital Investment Group (MDIG), A-Labs boasts of its […]

Philippine telecom giant Globe’s 917Ventures and Ayala Corporation are set to bring global two-wheel electric vehicle and battery-swapping technology leader Gogoro to the country. Piloting in Metro Manila in Q1 2023, Gogoro’s Smartscooters will serve as an eco-friendly alternative to fossil fuel-powered vehicles currently used by the logistics and last-mile delivery industry. Gogoro® Smartscooters® are […]

Philippine-based circular economy startup Humble Sustainability has raised $750,000 in Seed funding to enable it to bring companies’ excess inventory back to circulation through its technology services. Leading Humble’s seed round was Seedstars International Ventures, a seed-stage venture fund dedicated to emerging and frontier markets. The other participants were iSeed Ventures, an early-stage VC in […]

BillEase, a consumer finance platform based in the Philippines, announced that it has closed an up to $20 million debt facility arranged by Singapore-based fintech company Helicap Securities. Earlier this year, BillEase raised $11 million in a Series B round led by BurdaPrincipal Investments, the growth capital arm of German media and tech company Hubert […]

Digital lending, savings deposits, and mobile money/e-wallets are set to be the most promising fintech sectors in the Philippines going forward, according to Robocash analysts. A survey conducted by the World Bank also showed the main drivers of financial inclusion and fintech are government policies and the Covid-19 pandemic. About 68% of the surveyed claim […]

Expedock, a Filipino-founded innovator in the international freight software industry, announced raising $13.5 million in Series A funding, bringing the company’s total amount raised to $17.5 million. Global software investor Insight Partners led the round, with participation from Motion Ventures as well as existing investors Pear and Neo and executives from Project 44, Salesforce, Meta, […]

edamama, the Philippines’ leading parenting-focused e-commerce platform, has secured a $20 million Series A funding round led by Alpha JWC Ventures – one of Southeast Asia’s most prominent venture capital firms. The oversubscribed fundraise is one of the Philippines’ largest early-stage rounds, and includes significant participation by edamama’s existing investors, notable among which are Gentree […]