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Terence Lee · · 2 min readTech media site raises $1m from Wavemaker, Grvty Media, and more
Image credit: 36Kr
Technology business media site KrAsia has raised US$1 million in seed funding from investors, its public filing shows, giving it a valuation of roughly US$3 million. Singapore-based KrAsia is a subsidiary of 36Kr, China’s leading startup media property.
KrAsia’s investors from the city-state include venture capital firm Wavemaker Pacific as well as Grvty Media, which runs a number of consumer-oriented media properties, including Vulcan Post and Millennials of Singapore. Chinese VC firm 01VC was part of the round as well.
36Kr, which operates under the legal name Beijing Pinxin Media Culture, is the biggest shareholder. Here’s the cap table:
| Shareholder | Ownership | Amount invested (US$) |
| Beijing Pinxin Media Culture (36Kr) | 45% | – |
| Ma Cheng | 20% | – |
| 01VC Poseidon Fund 1 | 15% | 453,000 |
| Grvty Media | 10% | 302,000 |
| Wavemaker Pacific 1 | 5% | 151,000 |
| Taklamakan Holdings | 5% | 151,000 |
36Kr has been expanding rapidly into other business lines and regions. In addition to running a co-working space, it also just launched a venture capital fund and recently set up a business in Japan.
Like Tech in Asia and e27, KrAsia provides Asia-wide, English language coverage about the technology and startup scene. DealStreetAsia covers the space as well, alongside content about the private equity industry. A number of media companies like Bloomberg, TechCrunch, and South China Morning Post also cover the industry.
In addition to these entities, there are plenty of country-specific, English language tech news sites like The Ken in India and Technode in China.
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