B2B Connect
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Singapore-based procurement startup Eezee has raised $7.5 million (RM33.7 million) in a Series A round of funding led by Ayala Corporate Technology Innovation Venture Fund (Active Fund), a venture capital firm supported by Ayala Corporation and its business units
The company noted in a statement that this round also included new investors HH Investments and Orange Venture Fund as well as previous investors Insignia Ventures, Wavemaker Partners, and January Capital.
It claimed that a number of business angels also provided cash to the startup. According to Eezee, it intends to utilise these funds to increase the size of its workforce, increase its market share, and create new features for its B2B online procurement platform.
The Active Fund is advised by Minette Navarrete, president of Kickstart Ventures, who stated that the B2B MRO market is anticipated to be worth US$616 billion (RM2.7 trillion) and that B2B e-commerce is expected to expand by 12% yearly in Asia alone.
According to the company, their technology boosts the value of human capital in terms of productivity, quality, and efficiency and enables the transition from automation to augmentation.
Organisations may search and purchase a variety of products online through Eezee’s digital procurement platform, including office supplies, safety gear, and industrial supplies. Firms may save money and time by streamlining the procurement process.
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