Terence Lee · · 1 min readTech industry platform E27 raises $2.2m despite firing half its team this year
Image credit: Shafiu Hussain.
E27, a platform for Asia’s tech industry, has raised a round of funding from investors, sources told Tech in Asia. E27 later revealed in a press release that the round, a series A, is about US$2.2 million.
Leading the round is China’s TechTemple Group, a startup services provider. Joining it are Linear Venture from China, Convergence Ventures from Indonesia, and Singapore’s Venturecraft and Spacemob.
Individuals like Douglas Khoo, co-founder of Chinese travel startup Qunar, and Turochas Fuad, CEO and founder of Spacemob, and previously the founder of Homeaway-acquired Travelmob, also participated.
A direct competitor to Tech in Asia, E27 has a media team which covers development in the tech industry. It organizes conferences around the region and has job listings. It also has a database of industry events, products, as well as companies.
This investment is significant because it came after the company laid off half its staff, or about 20 people, in January this year to cut costs.
However, it has begun hiring again in the events and editorial departments, according to its job postings.
Update on July 26: Added details on the funding round.
Editing by Michael Tegos and Judith Balea
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