Two VC firms have made their first foray into Taiwan today, with DCM and Qualcomm Ventures leading a major funding round for Accuvally, the startup behind the Taiwanese events and ticketing site Accupass.com.
The precise details of the financing have not been revealed yet, but TechOrange reports that CEO Ben Lo is saying that it’s in the low millions of (US) dollars. But that’s still some big backing for Accupass, which has not yet been online a whole year. But it has already become the leading e-ticketing service in Taiwan.
As so often occurs in the region, there are some international sites in this market, but they’re not doing a very good and focused job – especially in terms of e-payment methods. Or language localization. Eventbrite is one example – it doesn’t even have a Chinese-language site. Accupass, in contrast, supports a wide array of online payment modes, from Paypal to bank transfers to nationwide convenience store payment systems.
Qualcomm Ventures is the VC arm of the American semiconductor and telecoms company Qualcomm (NASDAQ:QCOM). Its more familiar with the mainland Chinese startup scene, where it has already backed Yongche and a few others. Apparently, Accuvally and its Accupass caught Qualcomm Ventures’ eyes at the DEMO China event last August.
Accupass, with help from that fresh injection of funds, will launch an English version of the site later this year and might also go more mainstream from its current geeky line-up of tech-related events.