Singapore-based parenting app provider TheAsianParent has raised between $10m and $30m in a series C round led by conglomerate Fosun, TechCrunch reported yesterday.
E-commerce platform JD.com also took part in the round, which was filled out by commitments from ATM Capital, Redbadge Pacific, Global Grand Leisure and WHG Holdings. A precise figure for the round could not be ascertained.
TheAsianParent’s mobile app provides parent-focused articles and digital content, as well as an online community for parents in Southeast Asia.
The company will use the funding to build out its e-commerce business with plans to start selling products through its platform. Capital will also be used to expand into new markets in Asia and Africa, starting with Nigeria, Kenya and South Africa.
Roshni Mahtani, founder and chief executive of Tickled Media, which owns TheAsianParent, said: “The way I see it is that for media companies to be relevant, you need to have content, community and commerce, so that it becomes very easy for consumers to trust you for content and community, and also be able to buy products that you recommend and that have been created for their communities.”
TheAsianParent has not disclosed any previous funding rounds, though Global Grand Leisure and WHG Holdings were described as returning investors.