edamama, a Philippine-based e-commerce platform designed for parents, has announced raising $20 million (about P1.1 billion) in a Series A funding round led by Alpha JWC Ventures, a Jakarta-based venture capital investor.
edamama’s existing investors, including Gentree Fund, the investment vehicle of the Sy Family Office; Robinsons Retail Holdings; and Kickstart Ventures also participated in the funding round, along with Singapore-based investor InnoVen Capital, Foxmont Capital Partners, and angel investor Lisa Gokongwei-Cheng.
The fresh funding, which is one of the largest early-stage fundings in the Philippines, will be used to finance the expansion of the startup’s operations in Metro Manila and beyond.
The expansion includes same-day and next-day delivery solutions to more locations, according to edamama.
In addition, the startup said it will boost the platform’s content and community elements and then launch an offline store and scale its private label portfolio using the fresh investment.
“Our team is honored by this vote of confidence and grateful to our repeat investors for their ongoing trust and unparalleled support as we build a leading parenting brand,” edamama founders Gupta and D’Souza said.
edamama was founded in May 2020, at the height of the global pandemic that forced people to stay at home and buy necessities online, by Nishant D’Souza and Bela Gupta.
In July last year, it raised $5 million in its pre-Series A funding from Gentree Fund, Robinsons Retail, Kickstart Ventures, and Foxmont Capital Partners.
The platform features parenting-focused products such as fashion, food and nutrition, baby gears, home and lifestyle items, educational materials, bath and body products, as well as pet food and accessories, among others.
The startup said it has grown 100x amidst the global pandemic and delivered over 1.5 million products Filipino doorsteps across the country, leveraging its embedded warehousing and logistics fleet.
It also pioneered multiple market-first parenting innovations, including the country’s first online gift registry, subscription services for everyday essentials, and an integrated portal for content and services.
Commenting on the investment, Eko Kumiadi, partner of Investments at Alpha JWC Ventures, the lead investor, said parents in the Philippines have limited options for quality products and that there is not enough platforms for product reviews.
“edamama fills that buyer confidence gap by giving parents access to the best shopping experience with a wide range of quality SKUs, and trusted by a strong community that supports parents on their most exciting journeys,” Kurniadi said.
Great article!