Daniel Tay · · 1 min readMalaysian tech news portal Digital News Asia goes regional with seed funding round
Malaysia-based tech news portal Digital News Asia (DNA) announced today that it has secured MYR 1 million (US$300,000) in seed funding from Malaysian private equity fund IdeaRiverRun (IRR).
According to an official statement, the investment will be used to fund DNA’s regional expansion in Southeast Asia, the hiring of additional talent, and to develop new products and channels. The team is now looking at entering Indonesia, Thailand, and the Philippines following its move into Singapore last month.
DNA founder and CEO Karamjit Singh thinks that the partnership with IRR will bring great value to the news portal. “To DNA, partnering with IdeaRiverRun is about taking ‘smart money.’ The IRR group has some companies that we feel can add value to DNA immediately, while Tan Sri Vincent Lee’s [Chairman at IRR] overall investments in other digital-related properties will also enhance the delivery of our content to readers,” he says.
Singh emphasizes that DNA will retain its editorial independence – a critical request that IRR agreed to.
See: GrabTaxi puts the heat on Uber with additional funding of $65 million
Editing by Mary-Anne Lee and David Corbin
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