Etaily, a fast-growing Philippines-based e-commerce-enabling startup, has closed a $4.3 million seed extension round, an addition to its initial $1.6 million funding round held in second quarter of last year.
The funding was led by the Gokongwei Group’s investment arm, JG Digital Equity Ventures, with support from the country’s top businessmen and owners of Century Pacific Group, Landmark Department Store, Abenson.com. Also, regional investors such as Gobi Partners, through its local Gobi-Core PH Fund, and other notable investors, such as CARRO Chief Strategy Officer Kenji Narushima, joined this round. Ayala Ventures and Foxmont Capital, also returned for this round.
Etaily will use part of the new capital to push its regional expansion as well as to continuously develop unique solutions for its brands.
One of these solutions is an offline-to-online (O2O) cloud software, designed to integrate offline point-of-sales to allow instant commerce and fulfillment out of stores.
