Singapore based media site e27 has raised $2.2 million Series A round led by TechTemple Group, the company announced on its website. Other investors include Linear Venture, Convergence Ventures. Venturecraft and Spacemob.
Mainly known as a tech focused media outlet, co-founder and CEO Mohan Belani insists that media is only a small part of what e27 represents.
From day one, e27 has always been an ecosystem builder. We’ve always had a vision of creating products offline and online that would help us achieve that vision.
The company has launched jobs platforms, a startup and investor database, and a B2B marketplace. e27 is also the company behind the Echelon series of startup and investor conferences. Belani clarifies,
“At this point, the natural direction for us is to weave the online and offline functions in order to create a full-fledged, interactive ecosystem product, not just an uni-directional digital media.”
Bridging the gap between China and Southeast Asia is crucial
China has impressive market opportunities, made up of companies and people who have accomplished what Southeast Asia is currently trying to do. e27 aims to collaborate with its new investors, who are based in China, and provide more know-how towards the landscape, the language, network and professional interest barriers.
Currently, there are mid-sized and growth sized startups in China that are interested in expanding into Southeast Asia. The trend is being led by tech titans such as Tencent, Baidu and Alibaba, who have successfully paved ways into the booming market. e27 wishes to drive the growth of Chinese startups into the region by providing them with the right tools.
Indonesia’s role in driving Southeast Asia’s growth
e27 plans to collaborate with Convergence Ventures, one of the investors from this round, and leverage their strong investment network in Indonesia. This ties in with the company’s goal to facilitate stronger cross-border ties between key players in the region and China.
Jerry Wang, Founder of TechTemple comments,
“China’s rapid development of the internet industry brings important lessons to Southeast Asian entrepreneurs, as well as opportunities for cross-border collaboration. Localisation is also very important, hence investing in e27 would bring a wealth of local knowledge and connections for China.”
A version of this appeared in e27 on July 27. Read the full version here.