- Gentree Fund, Kickstart Ventures, Robinson Retail Holdings, others participated in this round
- Funds to be used to expand warehouse capabilities, improve delivery services
PHILIPPINE-based startup Edamama, an ecommerce platform catered to mothers, said it has raised US$5 mil(RM20.8 mil) in its pre-series A round.
In a statement, it said the round saw participation from Gentree Fund, Robinsons Retail Holdings, Inc (RRHI), Kickstart Ventures, which are affiliates of SM Investments Corporation, JG Summit, Globe Telecom, Foxmont Capital Partners, and eminent Filipino and global angel investors.
Edamama currently offers several products through its platforms, including a gift registry feature and Subscribe and Save, an online diaper subscription service launched in an exclusive partnership with Procter & Gamble’s Pampers, it said.
It has also launched Explore, a one-stop destination for parents to book online classes and activities for their children, it added.
The company, which provides its services throughout the Philippines, hopes to use the new funds to expand its warehouse capabilities and further improve its delivery services.
It said it is also working on omnichannel expansion and new mediums of direct-to-consumer communication, including live streams and social commerce.
Minette Navarrete, president of Kickstart Ventures likens the mission of edamama to the adage “it takes a village to raise a child.”
“Edamama captures the essence of this ‘village’: an easy, trustworthy, and personalised shopping experience for busy moms, useful, curated, verified content and safe community interactions that affirm and support parenting,” she said.
“Edamama is leading the future of personalised e-commerce in the Philippines, offering mothers a safe forum to share experiences while integrating discovery-led experiences into their platform,” said Mark Sng, vice president, Gentree Fund.
“Our investment in edamama is in line with Robinsons Retail’s own strategies and pivot into e-commerce.
“The babies and toys categories offer potential to serve a particular demographic of parents seeking for options and convenience when searching for the right products for their kids”, said Robina Gokongwei-Pe, president of Robinsons Retail.
Edamama was established amid the Covid-19 pandemic by founder Bela Gupta D’Souza after she realised that mothers had been increasingly purchasing products for their children online.
She found that buyers would spend most of their purchasing journey just researching for the best products, but they would still end up with those that were less than ideal, it said.
Since its launch in May 2020, edamama has become the trusted online destination for parenting products and services in the Philippines.
The company claimed to have served tens of thousands of expectant and new mothers since its inception.
The Philippine e-commerce market is the fastest growing in Southeast Asia. According to Google’s e-Conomy SEA 2020 report, it grew by 55% at the height of the pandemic as purchasing behaviour of consumers shifted from offline to online.
A major growth area of the market is the maternity products segment, which is driven by the country’s high fertility rate.
An HKTDC commissioned study predicts that the segment’s value will surpass US$1 bil (RM4.2 bil) in 2022.