Internet, News

TechInAsia, an Asia focused online media portal raises undisclosed amount in Series B

TechinasiaTechInAsia, a digital media startup covering Asia-focused tech news, has recently raised an undisclosed amount in Series B round from Silicon Valley’s global venture investor, Fenox along with the existing investors East Ventures and Simile Venture Partners. The terms and other details of the deal also remain undisclosed.

The TechInAsia team plans to utilize investment in producing quality content and explore more ways to better serve the tech and startup community in the Asian region.

“Through their global connections, experience in building Silicon Valley-styled startups, and direct operational support, I’m confident we will grow expeditiously”, said Willis Wee, CEO and founder of Tech in Asia.

At present, TechInAsia is having its presence in Indonesia, Singapore, Vietnam, the Philippines, Thailand and China. In addition to its coverage of tech happenings, Tech in Asia organizes Startup Asia, a bi-annual 2-day conference that inspires entrepreneurship by featuring prominent venture investors and successful startups, along with monthly Meetups, held in various Asian cities.

Also, in January this year, TechInAsia raised Series A, led by Russia-based Simile Venture Partners along with the first seed fund investor East Ventures. Currently TechinAsia has around 10k Global rank and highest number of visitors i.e. 11.6% coming from India (Source Alexa).

Among the other players in this space, e27  recently raised $613k from B Dash Ventures in Japan, Pinehurst Advisors from Taiwan, Thailand’s Ardent Capital, and others. Also, Jeff Bezos, the chairman of the internet retail giant, Amazon  foray into the newspaper business by buying The Washington Post for USD 250 Mn, along with investing USD 5mn in Business Insider, a business oriented blog.

Simile Venture Partners, a super angel fund started in 2012, invests in internet companies mainly in developing markets, with funds up to USD 500k per startup. On the other hand, East Ventures is a Singapore and Jakarta based early stage fund, which has till date made 26 investments between USD 50k to USD 500k each.

Fenox Venture Capital, focused on providing early and strategic funding to technology companies in North America and Asia, invests globally in the consumer Internet, new media and software technology sectors. Its recent portfolio comprises Lark, ShareThis, DJZ, Dream Link Entertainment (DLE), Bottlenose and Socialize.

This investment by Fenox follows a recent trend of Silicon Valley VCs recognizing the potential of returns from investing in startups from emerging markets like the Southeast Asia. The inflow of capital and expertise in growing startups is regarded as greatly beneficial to the regional ecosystem.

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