Singapore-based E27, a technology-focused blog has raised about $650K funding with an aim of closing a larger round somewhere in about $3 Mn.
Mohan Belani, cofounder of E27 confirmed the development and told Techcrunch, “We’re hunkering down and focused on what we believe is right for the ecosystem, the entire media industry is going through an interesting evolution, we’re learning what works best for our ecosystem.”
Founded in 2006 by Mohan Belani and Thaddeus Jit Siong Koh, E27 runs a portal that reports news on funding, startup and entrepreneur profiles, product reviews, and resource articles to level-up your startup. Besides, it also has a complementary events business which includes its flagship two-day Echelon conference.
The news of this funding comes after E27’s rival, Tech In Asia which is backed by Y-Combinator raised $4 Mn to develop its website into a community hub for Asia’s tech industry. Tech In Asia recently has started adding user generated content on its platform and also has a Ask Me Anything features which is said to be providing major boost to its traffic. Contrary to what is expected, the fact that a close rival was able to raise $4 Mn could help convince investors that E27 is a good investment too and that media businesses in Asia have plenty of headroom to grow.
E27 previously raised a $615k funding in 2013, and some of its investors include, 8capita Partners, Ardent Capital, B Dash Ventures, and Pinehurst Advisors.
In another development, independent tech news, review & analysis website, Re/Code was acquired by Vox Media for an undisclosed amount.
Also, earlier this year, News Corp acquired VC Circle, an India-based media company running a tech news site and events business.
If we talk about the online content businesses in general, in India a number of startups have managed to raise huge funding across several rounds. Some of the content platforms that raised funding in the current year include Littleblackbook, TheBetterIndia, ZenParent, and viral content sites like ScoopWhoop, Bluegape among others.
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