Fast-growing Philippines-based e-commerce enabler, Etaily, has closed a US$4.3 million seed extension round, bringing Etaily’s total funds of US$5.9 million raised to date.
The round was led by the Gokongwei Group’s investment arm, JG Digital Equity Ventures.
Besides that, Gobi Partners, through its local Gobi-Core PH Fund, and Kenji Narushima, Carro Chief Strategy Officer, joined this round.
Previous investors, Ayala Ventures and Foxmont Capital, also returned for this round.
Etaily's Background
- Founded in 2020 by current CEO Alexander Friedhoff.
- Offers services such as content production, channel creation, and warehousing and fulfillment.
- Helped more than 20 brands including Landmark, Midea, Toshiba, and Terranova with their online retail operations.
- Generated more than one million transactions and made more than 50,000 unique products available across Southeast Asia in its first year.
Usage of Freshly Acquired Funds
- Etaily wants to provide a one stop solution that focuses on managing online marketplaces of brands and building direct-to-consumer channels via online and offline distribution channels.
Part of the new funds will be used to expand regionally and to continuously develop unique solutions for its brands.
An offline-to-online (O2O) cloud software, designed to integrate offline point-of-sales is in the works to allow instant commerce and fulfillment out of stores.
Retailers will be able to list their offline store inventory on their online channels, easily fulfill orders out of the store, and pick couriers through the new platform, which will be available in the near future.
“We are very grateful to receive so much trust in our growth stage. It legitimizes our traction in building a sustainable and scalable business model that can create value to the core businesses of our existing and future brands and, now even more excitingly, of our investors,” said Alexander Friedhoff, CEO of Etaily.
