Asia Pacific Internet Group (Apacig), a joint venture between e-commerce group Rocket Internet and telecommunications firm Ooreedo, intends to launch a new startup in Asia each quarter, Tech in Asia reported on Monday.
Apacig was formed by Germany-based Rocket Internet and Qatar-based Ooreedo in April 2014. Its companies include automotive classified listings site Carmudi, real estate portal Lamudi, household services provider Helpling, recruitment marketplace Everjobs and ride hailing service Easy Taxi.
The first new startup to be launched will be Vaniday, an online marketplace for wellness and beauty professionals, which moved into Australia this week and will soon expand across Southeast Asia. Originally launched in Brazil, the company is now present in six countries.
Apacig’s other startups have largely been succcessful in raising cash this year. Carmudi secured $25m in a February 2015 series B round also backed by retailer Tengelmann.
Lamudi closed an $18m series B round also featuring Tengelmann and Holtzbrinck Ventures, the venture capital firm backed by publisher Georg von Holtzbrinck, the same month while Helpling raised $47m in series B funding in March from investors including Rocket Internet.
Rocket Internet has however been struggling with some of its Asia-based startups. Easy Taxi, also backed by Tengelmann, pulled out of India, Indonesia and Hong Kong at the end of 2014 after it failed to compete with rival GrabTaxi.
Hanno Stegmann, chief executive of Apacig, said: “We are operating in highly diverse markets – from very developed ones such as Singapore and Australia to rising stars such as Myanmar and Pakistan.
“Our portfolio of companies fits the macroeconomic trends of different regions and the demand for new online businesses.”