The technology holding company is leading a group investment in local social e-commerce platform Ecomobi in a bid to help the startup reach further into the region.
Joining the funding round are Naver Group, LINE Ventures, and GS Shop. ESP Capital is also making an additional investment as a follow-up funding into Ecomobi.
Terms of the investment were however not revealed.
Founded in 2016, Ecomobi has so far established its presence in Vietnam, Indonesia, Thailand and Singapore.
According to Thanh Truong, CEO and Founder of Ecomobi, the funding round will back the startup in its quest to grow beyond its original markets, with launch in Malaysia and the Philippines expected in 2019 and 2020 and others in region later on.
Ecomobi is a startup that provides selling solutions to brands and online merchants by integrating social media platforms such as Facebook, YouTube, Zalo, and Instagram. By using AI/machine learning chatbot technology, it helps these sellers connect with thousands of key opinion leaders (KOLs) and social traffic and sell their products via reviews, promoted content, and product experience.
Its merchandise partners across Southeast Asia include e-commerce leaders like Tokopedia, Shopee, Tiki, and Lazada and brands such as Sony, Samsung, Vascara, and Juno.
In 2018, Ecomobi helped more than 100 brands and e-commerce sites sell over $100 million in merchandise value and services across 30,000 media channels. In 2019, the company is on track to double its performance from the previous year.
Speaking at the “Grow with GS” event in Ho Chi Minh City, Khanh Tran, partner at VinaCapital Ventures, said, “Ecomobi is the perfect example of how today’s Vietnamese entrepreneurs are building regional businesses from day one. Their first country was Indonesia, due to the enormous size of its e-commerce marketplace. They then applied their experience in that country to launch in Vietnam.
“In just two years, the company is generating significant and increasing revenue not just from those two countries but from markets like Thailand and Singapore. We are excited to play a role in helping Ecomobi realise its potential.”
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