Cube Asia, a Singapore-based online retail insights company, has raised US$1.5 million in a seed funding round led by Wavemaker Partners.
Founded by Sarabjit Singh and Simon Torring last year, the startup aims to provide granular insights for consumer brands, retail companies, and investors to make more data-driven decisions in areas such as ecommerce pricing and discounts, product assortment, and influencer engagement.
The goal is to enable more rapid and profitable online growth in Southeast Asia’s US$170 billion ecommerce market.
The fresh funding will be used to scale up technology, product, and data teams to further enhance the company’s data quality.
MeterCube, Cube Asia’s first product, is available in six markets across Southeast Asia. The platform provides TikTok Shop retailers and brands with access to insights like up-to-date rankings of popular TikTok accounts, top-selling products in different categories, pricing and discount trends, and category-specific market sizing.
Cube Asia has plans to expand to other channels such as Shopee, Lazada, and Instagram this year.
See also: To Shein or not to Shein: the billion-dollar question facing every ecommerce player
Editing by Dhania Putri Sarahtika
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