Nadine Freischlad · · 2 min read1337 Ventures invests in 3 more Philippine startups
The team of Betterhapp, one of the startups funded by L337 Ventures.
Malaysia’s 1337 Ventures runs a pre-accelerator program called Alpha Startups in cities across Southeast Asia. Apart from its home country, it’s been to Singapore, Indonesia, and the Philippines.
The five-day Manila program just came to an end. A total of 20 teams had made it into this second batch of Philippine startups out of more than 100 applicants.
As per usual, 1337 Ventures picked three startups from the batch to invest in.
The startups that made the cut this time are BusTayo, an app that simplifies bus ticket reservations, BetterHapp, an online wedding planning tool, and Detivo, a web-connected point-of-sale software for restaurants
We’re really excited to see more SaaS.
The teams will now undergo a three-month accelerator program managed by 1337 Ventures. They also receive US$25,000 worth of funding, some of it in cash and some in the form of other benefits, such as free access to Amazon Web Services.
The goal is to mentor the newly-hatched startups to the point where they are ready for further funding and growth.
1337 has previously invested in three other Philippine startups after the first time it ran its program in the country last November.
Bikesh Lakhmichand, CEO and founder of 1337 Ventures, was very pleased with the teams he encountered half a year on.
“The level of the ideas submitted for the programme is definitely leveling up. We’re really excited to see more SaaS based products being pitched and that [Philippines] based teams are ready for global if not regional traction,” he told Tech in Asia.
Editing by Steven Millward and Osman Husain
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