Philippine ecommerce firm bags $20m in Alpha JWC-led round

Philippines-based ecommerce firm Edamama has raised US$20 million in a series A funding round led by Alpha JWC Ventures.

The Edamama team / Photo credit: Edamama

Existing investors, including Gentree Fund, Robinsons Retail, Kickstart Ventures, Innoven Capital, and Foxmont Capital Partners, also took part in the round. 

Launched in May 2020 by Nishant D’Souza and Bela Gupta, Edamama provides safe and affordable parenting products. It also offers an online gift registry, subscription services for everyday essentials, and an integrated portal for content and services. 

The latest investment will be used to expand Edamama’s operations, including same-day and next-day delivery solutions, to more locations across Metro Manila and beyond. The company will also develop its content and community, launch its own offline stores and scale its private-label portfolio.

“As parents, we want the best for our children. However, parents in the Philippines have limited options for quality products, and there is also a dearth of credible platforms for product reviews,” said Eko Kurniadi, partner of investments at Alpha JWC.

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Edamama said it saw a 100x growth in revenue amid the Covid-19 pandemic, delivering over 1.5 million products to customers in the Philippines via its embedded warehousing and logistics fleet.

In October 2021, the company raised an undisclosed amount in debt financing from Innoven Capital to strengthen its logistics capabilities.