A Series A fundraising round headed by Alpha JWC Ventures saw $20 million received for the Philippine-based e-commerce company Edamama.
Existing investors such as Foxmont Capital Partners, Robinsons Retail, Kickstart Ventures, Innoven Capital, and Gentree Fund also participated in the round.
Edamama offers trustworthy and reasonably priced parenting items and was introduced in May 2020 by Nishant D’Souza and Bela Gupta. In addition, it provides subscription services for daily necessities, an integrated platform for information and services, and an online gift registry.
With the most recent investment, Edamama will be able to offer same-day and next-day delivery services to additional places in Metro Manila and further. Additionally, the business will expand its private-label portfolio, open its own physical locations, and grow its content and community.
“As parents, we want the best for our children. However, parents in the Philippines have limited options for quality products, and there is also a dearth of credible platforms for product reviews,” said Eko Kurniadi, partner of investments at Alpha JWC.
With its incorporated warehouse and logistics fleet, Edamama claimed it had a 100x increase in income during the Covid-19 outbreak and delivered more than 1.5 million goods to consumers in the Philippines.
To improve its logistical capabilities, the business obtained undisclosed loan funding from Innoven Capital in October 2021.
