TheAsianparent closes C2 series funding with 7 figures, plans to expand into commerce
TheAsianparent, a Singapore-based parenting community and content platform, has closed a C2 series funding round with a reported seven figures in investment.
The firm seeks to diversify its product strategy, and say they will use part of the invested funds to create a B2C product line of maternity and baby products.
Although TheAsianparent’s content and community is primarily focused on the Southeast Asia region, the company seeks to enter the global stage with its products.
The most recent fund round comes directly after the company closed an oversubscribed C series funding round that reached a total of $6.7 million, which was led by Chinese conglomerate Fosun. The funding was primarily used for further expansion into Asia as well as to enter the African market.
Due to an rising working female population worldwide, the market is projected to reach almost $17 billion by the year 2025. The company aims to continue expanding into new markets with high fertility rates in order to achieve its revenue target of $100 million within the next few years.
“Expansion into commerce is a natural progression for TheAsianparent,” said company founder and CEO Roshni Mahtani. “As a purpose-driven maternal healthtech company, access to safe and healthy products at an affordable price point is complementary to the content we provide to our 30 million-strong parenting community.”
Aside from commerce, the company has said that it will use the funds to expand its technology infrastructure by increasing its tech workforce and investing in AI support and machine learning technology.