Thailand: Mercular, a Thailand-based e-commerce company targeting hobbyists, has raised US$3 million in Series A funding led by Kairous Capital.
Cyber Agent, 500 Startups, N-Vest Venture, and Premier Advisory Group also participated in the round.
As per a press note, the fresh funds will go towards improving its platform and expanding the products and categories carried, starting with gaming gear.
Mercular claims it is the first Thai e-commerce startup to receive funding from foreign investors.
Based out of Bangkok, Mercular specifically targets those who are into hobby lifestyles. Having started out selling audio gadgets, the company has since expanded its product line to include sporting goods, cameras, and collectible figures, among others.
The e-commerce startup noted it distinguishes itself from other platforms by providing pre and post-sales services for sellers — from providing content reviews to handling customer claims.
“The demand for hobbies products is rising rapidly since the millennials and younger generations are looking for alternatives in their recreation. While the typical e-commerce platform in SEA regions focuses mainly on price competition,” noted Woragun, founder and CEO of Mercular.
“The pandemic has expedited the consumer’s habits of purchasing online by several years. While we believe that e-commerce market places will continue to be the mainstream players, we also see consumers turning sophisticated and demanding more by transacting via vertical e-commerce and social commerce platforms,” commented Joseph Lee, Managing Partner at Kairous Capital.