Tech in Asia raises $6.6M led by Hanwha

Tech in Asia was founded in March 2011 with one mission in mind: To serve and build Asia’s tech and startup ecosystem.

As we push the frontiers of our ecosystem and community, it is humbling to meet organizations who believe in our mission enough to invest in it. Today we are pleased to share that Tech in Asia has secured a US$6.6M round of financing led by Hanwha Investment & Securities, an affiliate of Hanwha, one of Korea’s largest conglomerates with US$55.5 billion in revenue in 2016. We share the same mission of building Asia’s tech and startup ecosystem, backing promising entrepreneurs in the region and accelerating their growth.


The round is joined by existing investors Eduardo and Elaine Saverin, Walden International, and East Ventures.

We have updated our Statement of Ethics page accordingly to disclose our new investors. As usual, we will include a link to our Statement of Ethics with every Tech in Asia article.

With fresh capital secured, it gives us more resources to work on research and product and development so we can continue to serve our users well. We are also looking for data scientists and data analysts to beef up our data team.

Some of you may not know, but behind our media, events, and jobs products is a data warehouse with a treasure trove of data for us to understand and serve users better. We have some ways to go before being near the world’s best (e.g Toutiao), but that is the standard we are aspiring to.

Here’s how we envision everything on Tech in Asia working together.

On behalf of the team at Tech in Asia, we thank you for your unwavering support through the years. I’ve included a little of our history here.

If you have any questions, leave them in comments and I’ll be happy to answer them.

Full press release can be found below.

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Tech in Asia raises $6.6M led by Hanwha

Singapore, 20 November 2017 – Tech in Asia, the media, events, and jobs platform for the tech community, has secured a US$6.6M round of financing led by Hanwha Investment & Securities, an affiliate of Hanwha, one of Korea’s largest conglomerates with US$55.5 billion in revenue in 2016. The round is joined by existing investors Eduardo and Elaine Saverin, Walden International, and East Ventures.

Speaking about the investment, Willis Wee, CEO and founder at Tech in Asia, said: “It is always humbling to meet individuals and organizations who believe in our mission enough to invest in it. We will continue to serve and build Asia’s tech ecosystem and keep improving our products to better serve the community.”

The capital will be used for research and product development for Tech in Asia’s media, events, and jobs products. The company will also continue to pour resources into community efforts such as Tech in Asia City Chapters and expanding our community content efforts to share expertise from the ecosystem with a broad audience without compromising editorial quality.

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Hanwha Group
Hanwha Group, founded in 1952, is one of the Top-Ten business enterprises in South Korea and a “FORTUNE Global 500” company. Hanwha Group has 61 domestic affiliates and 258 global networks in three major sectors: manufacturing and construction, finance, and services and leisure. With more than 60 years track record of industrial leadership, Hanwha’s manufacturing and construction businesses encompass a broad range of fields from chemicals & materials, aerospace & mechatronics, total solar energy solutions, and global construction. The finance network, covering insurance, asset management, and securities, is the second largest non-bank financial group in South Korea. The services and leisure sector offers premium lifestyle services with retail and resort businesses.

Walden International
Walden International is a leading international venture capital firm that has provided investors access to cross-border, IT opportunities with the advantage of an unrivaled Pan Asia network since 1987. The firm’s funds total US$2.6 billion in committed capital. Walden International has invested in over 500 companies in 12 countries, with in excess of 100 IPOs on 15 Stock Exchanges and more than 70 M&A exits. Walden’s investments include GoPro, Best Logistics, Creative Technology, JobStreet, Brandtology, HungryGoWhere, YFind Technologies, SINA, MindTree, Semiconductor Manufacturing International Corp., AutoNavi, Inphi, Silergy Corp., Ambarella, Ndoors, Com2uS, SundayToz, iKang Healthcare, Sinosun Technology and Solaredge Technologies.

East Ventures
East Ventures is an early stage venture fund focusing on SEA and Japan. Over the years, East Ventures has invested in hundreds of companies in Indonesia, Singapore, Japan, Malaysia, and Thailand. Majority of East Ventures’ portfolio went on to raise follow-on financing rounds, dominate the market, and become category leaders.

East Ventures has a strong track record in developing pan-Asia tech-ecosystems and backing the startups in their early day, including Tokopedia, Traveloka, Mercari, Disdus (acquired by Groupon), Kudo (acquired by Grab), Tech in Asia , Omise, IDNTimes, Ruangguru, Jurnal, Cermati, Mokapos, Shopback, EVHive, and Loket (acquired by Gojek).

More information about East Ventures can be obtained at: east.vc

Tech in Asia
Tech in Asia (YC W15) is a media, events, and jobs platform on a mission to build and serve Asia’s tech and startup community.

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from Tech in Asia https://www.techinasia.com/hanwha-tech-in-asia
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