Internet product and services company To The New Ventures is raising US$50 million to expand its B2C flagship brands across Southeast Asia. Backed by ASTRO Overseas Limited, the company has built an internet ecosystem that operates social and mobile businesses across China, India, and ASEAN countries.
Headquartered in Singapore, To The New Ventures (TTN Ventures) has incubated many new businesses in the digital and ecommerce space, and has taken them under its wings. Its businesses include: To the New Digital – a digital services company targeting the CMOs; ThoughtBuzz – a social analytics product for enterprises and SMEs in local Asian languages; Blogmint – a marketplace to connect bloggers and brands, allowing brands to influence the social audience; American Swan – an online fashion label, and #fame – an online digital video business that supports emerging talent.
“We could raise the fund either at the holding company or at the subsidiary level. 80 percent of the fund would be invested toward the growth of consumer service businesses; American Swan and #Fame, and not on TTN Digital. TTN digital has already established itself among the major players in the business, such as SapientNitro and Accenture Digital. We plan to close the funding by September,” Puneet Johar, co-founder and CEO, To The New Ventures tells Tech in Asia.
The company plans to expand #fame in Indonesia, Malaysia, Thailand, and other Southeast Asian countries in the next three to six months. American Swan would expand its operation in India and would be introduced in the South-East Asian region in the next 18 to 24 months. Earlier this year, the company invested US$10 million in #fame to scale-up its business and for technology upgradation.
“To The New Ventures is on a growth path has recorded 100 percent year-on-year growth, over a period of two years,” states Johar.