Mobile network operator Taiwan Mobile has added $20m to a series E round for Vietnam-based e-commerce platform developer Tiki Corporation that now stands at $120m, Taipei Times reported yesterday.
Tiki operates a diversified online marketplace that offers customers delivery within a two-hour timeframe. Taiwan Mobile intends to form strategic collaborations between the company and its own e-commerce offering, Momo.
An undisclosed strategic investor led the series E round’s first tranche last month, and it has a $200m target for its final close. Tiki was valued at $600m in a $43m convertible bond sale that closed in June this year.
Internet company CyberAgent’s investment arm, CyberAgent Capital (then called CyberAgent Ventures), supplued an undisclosed sum for Tiki in 2012. It then raised $1m to $2m in a round featuring diversified conglomerate Sumitomo the following year.
Internet group VNG Corporation paid $16.7m for a 38% stake in Tiki in 2016, joining e-commerce firm JD.com to invest at least $44m in a deal that reportedly closed two years later.
Private equity firm Northstar Group subsequently led a $100m round for the company in mid-2019, investing together with Korea Investment Partners, STIC Investments and Sparklabs Ventures. It also led a $130m round in June 2020.
