Digital media firm e27 raises $2.2 mn from TechTemple Group, others

Singapore-based technology news platform e27, run by Optimatic Pte. Ltd, has raised $2.2 million in its Series A round led by China's TechTemple Group.

China's Linear Ventures, Indonesia-based Convergence Ventures and Singapore's Venturecraft also participated in this round, e27 said in a statement.

Entrepreneurs such as Douglas Khoo, co-founder of Qunar, in which Baidu invested $306 million; and Turochas Fuad, CEO and founder of Spacemob and founder of Travelmob, which was acquired by Homeaway, put in money as well. "Southeast Asia's tech ecosystem is dynamic and rapidly changing. With these new opportunities, e27 will continue to sharpen its focus," said Mohan Belani, co-founder of e27.

The e27 website covers technology news of Southeast and South Asia, including India. It also has products such as a digital jobs database and a startup and investor database.

"These products are free and open to use by the community - in line with the company's vision of empowering entrepreneurs by developing relevant products and services to serve the needs of startups and of the technology industry and market at large," he added.

The company was founded in 2007 by Belani and Thaddeus Koh. e27 had raised $650,000 in 2015 from unknown investors, and $615,000 from B Dash Ventures and others in 2013, according to CrunchBase.

E27's content business and some of its products compete with VCCircle and TechCircle offerings. The VCCircle Network, which operates the two news websites focused on the startup ecosystem as well as business at large in India and which also has subscription data products, events and training businesses—was acquired by News Corp in March last year.

In a similar segment, Gurgaon-based Growthword Digital Pvt. Ltd, which showcases Indian startups and digital businesses through its online platform iamWire, secured an undisclosed amount in angel funding from a bunch of Chinese and Indian investors in August last year.

Prior to that, digital media firm YourStory.com raised capital in a venture funding round from Kalaari Capital with participation from Tata Sons' chairman emeritus Ratan Tata, former Infosys board member TV Mohandas Pai and Qualcomm Ventures.

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