One of Southeast Asia’s most renowned venture capital firms, Alpha JWC Ventures, led a USD 20 million Series A fundraising round for Edamama, the top parenting-focused e-commerce platform in the Philippines.
Gentry Fund, Robinsons Retail Holdings Inc. (RRHI), and Kickstart Ventures are connected to the Sy, Gokongwei, and Ayala families, respectively, and own the three most significant shopping mall operators in the nation, participated in the round, according to Edamame.
Repeat investors in the round for Edamame include Foxmont Capital Partners, a Temasek affiliate called Innoven Capital, and well-known angel investor Lisa Gokongwei-Cheng.
This most recent round is expected to accelerate the growth of edamama’s operations, enabling same-day and next-day delivery services in more areas of Metro Manila and elsewhere. The money will also be used to expand the company’s private label portfolio, develop its offline outlets, and improve the content and community components of the business.
The founders of edamama, Bela Gupta, and Nishant D’Souza, expressed gratitude to their repeat investors for their unwavering support. They continued faith as they worked to establish their company as a premier parenting brand:
“Edamama has the chance to use international best practices to utilize Alpha JWC’s fantastic track record with some of the most successful businesses in the region to service our clients better and faster every day.”
Eko Kurniadi, Partner of Investments at Alpha JWC Ventures, stated that:
“Edamama fills that buyer confidence gap by giving parents access to the best shopping experience with a wide range of quality stock keeping units (SKUs) and trusted by a strong community that supports parents on their most exciting journeys.
We want the best for our kids as parents. However, there are few trustworthy platforms for product reviews, and parents in the Philippines have few options for high-quality products.”
More about the startup:
The May 2020 launch of edamama by husband and wife creators Nishant D’Souza and Bela Gupta provides parents with a tailored purchasing experience through content, community, and commerce-driven initiatives.
Through its unique platform, edamama fills the trust gap in the Philippine retail environment for reliable, accurate, and reasonably priced parenting goods and services. With industry-leading average order values and customer retention rates since its launch, edamama has expanded to fulfill tens of thousands of monthly purchases.
The Series A funding was obtained due to the 100 times growth edamama experienced during the global pandemic, which sparked the demand for a safer and more reliable method for families in the Philippines to access goods and services online.
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