Browsing: Funding

According to Plug and Play Co-Founder Jojo Flores, the National Startup Accelerator Program will help an initial batch of 50 startups by facilitating funding access via the global Plug and Play network.

The partnership sees Ninjacart deploying capital and supply chain technology to further boost Mayani’s innovation and growth trajectory, according to the announcement.

The plan to expand to the Philippines is a strategic move as CNV targets micro and small businesses seeking to transform their businesses digitally to reach more customers.

Financial details of the investment were not disclosed but Hubware and BuildMart PH said the fresh funding will enable Hubware to build a holistic digital construction ecosystem in the Philippines through BuildHub.ph.

With the Up-Scaling Programme, DEG finances new investments of early-stage SMEs aimed at scaling innovative business models with high development impact.

The announcement of Kaya Founders’ second close also coincides with the firm’s appointment as an official co-investment partner of the Philippine Startup Venture Fund, which is a joint effort by the Department of Trade and Industry and the National Development Company.

The report highlights a decline in startup funding compared to 2022, with both deal size and fundraising rounds plummeting by over 70% and 60%, respectively. However, amidst this downturn, there was a remarkable surge in the number of startup deals by over 53%, with Filipino founders adept at extending their runway amidst capital scarcity.

Similar to the company’s work with MSMEs, Kayamo’s decision to support Filipino creatives stems from their recognition that the creative community needs a new form of assistance.

The round was led by early-stage investor Integra Partners and participated by a host of investors, including the Menardo Jimenez Family Office, M Venture Partners, Cento Ventures, Gobi Partners, through the Gobi-Core Philippine Fund, and several local angels.

The funding round was anchored by RT Heptagon Holdings, a local company that manages a diverse family of businesses headed by chairman and president Rex Tiri.

The fund, known as Wavemaker Pacific 5 or Wavemaker SEA Fund V, aims to support startups within Southeast Asia’s rapidly expanding technology sector.

The company, led by CEO Osamu Yamada, said the latest funding round brings its total funds raised to date to approximately ¥6.3 billion. It will use the new funds to enhance its product features and further expand into the Asian region, particularly in Taiwan, Thailand, and other ASEAN countries.