The Parentinc, best known for its flagship brand, theAsianparent, a Southeast Asia-wide parenting community platform, closed its latest round of funding at US$22 million. According to a statement from The Parnetinc, the funding round included a mix of primary and secondary investments alongside risky debt. According to The Parentinc Group CEO and Founder, Roshni Mahtani Cheung (pictured), the funds will be used to expand both theAsianparent and its D2C Mama’s Choice brand into three additional markets by the end of the year.
The funding round was led by East Ventures along with other undisclosed investors. New investor Central Retail Corporation and existing investor WHG Holdings also participated in the round. Meanwhile, venture debt financing was provided by DBS, marking the company’s second venture debt financing secured from the bank.
Additionally, Cheung said she was delighted to welcome East Ventures to her company’s list of investors, as it is “one of Southeast Asia’s largest venture capitals.” . “I have always been a huge fan of their team, their business management philosophy, and the depth and breadth of their knowledge. Thanks to EV’s expertise and immaculate track record in building unicorns across Asia, we look forward to emulating their successes and deepening our presence in Indonesia and throughout the region. I couldn’t have chosen a better partner to grow The Parentinc’s business. “, she added.
INTERACTIVE-MARKETING has contacted The Parentinc for comment.
The latest financing follows the arrival of LINE Southeast Asia as a shareholder last month. According to a press release, the acquisition of The Parentinc shares laid the foundation for the two companies to disrupt the mother and baby care market category. The two companies will also explore synergies in the APAC digital advertising market, which is expected to grow 13% annually from 2021 to 2031, amassing a total addressable market of US$2.8 trillion.
The APAC baby care products market is expected to grow at a CAGR of approximately 8% from 2021 to 2026 to reach a market size of US$48 billion in 2026, from US$28 billion in 2019 . , community and commercial for pregnant women and new mothers. The Parentinc also owns and operates Mama’s Choice, a direct-to-consumer brand that manufactures and retails safe, natural and Halal pregnancy, nursing, baby care and household products that are designed and tested in Singapore for families. in Asia. In 2021, its revenue grew 100% year-over-year and plans to continue that trajectory while expanding into even more markets this year, the company said at the time.
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