- Techzi
- Posts
- Edamama Lands New Funding to Accelerate Philippines Growth
Edamama Lands New Funding to Accelerate Philippines Growth
Parenting platform bags Ayala-backed Series A+ round to expand online and offline footprint after pilot stores saw strong traction
Anuj Kumar Verma
November 29, 2023
• Philippines parenting platform Edamama secured Series A+ funding to expand online and offline.
• New capital from ACTIVE Fund, GS Group will accelerate retail footprint growth after strong pilot store traction.
• Funding brings total raised to over $35 million to boost Edamama's mission of empowering local parents.
Edamama Capitalizes on Growth Opportunities in the Philippines
Edamama, an online-to-offline parenting platform in the Philippines, has closed a Series A+ funding round led by the Ayala-backed ACTIVE Fund.
The new capital will fuel Edamama's retail footprint expansion across the Philippines.
Existing backers like Kickstart Ventures and new investor South Korea’s GS Group joined the round, which brings Edamama’s total funds raised to over $35 million.
Edamama Gears Up for Rapid Expansion with Enhanced Financial Backing
The fresh funds will accelerate Edamama’s offline rollout plan after pilot stores in Manila malls.
By year-end, Edamama will launch a new store at Ayala Vertis North before expanding nationwide in 2023.
“This funding will accelerate our offline roll-out and private label product development, providing more value and accessibility for customers online or offline,” said Co-Founder Nishant D’Souza.
As part of the deal, Miguel Fernandez will join Edamama’s Board of Directors. The company also appointed four new senior executives to drive commercial growth.
Capitalizes on Growth Opportunities in the Philippines
Edamama, launched in 2020, is a digital-first parenting platform providing essential baby products, resources and community support.
The startup claims over 3.5 million products delivered to Philippine families so far.
The Series A+ round comes after Edamama announced a $20 million Series A last August led by Alpha JWC Ventures to boost its mission of empowering parents across the Philippines.
Reply