AVANA transforms social media from a promotional platform to a transactional one, bridging the gap between product discovery and purchase

Malaysia-based social commerce platform AVANA has received US$1 million in pre-Series A funding round led by Gobi Partners, with participation from local VC firm TH Capital and existing investor Cradle Seed Ventures (CSV).

The startup will use the funds to capture and dominate the 70 per cent or 3.5 million MSME sellers in Malaysia that have yet to penetrate the e-commerce market. Simultaneously, the company will continue to work on enhancing its platform to provide more sales channels integration.

Founded in 2016 by Luqman Adris and Soh Yien Yee, AVANA transforms social media from a promotional platform to a transactional one, bridging the gap between product discovery and purchase. It enables MSME sellers across ASEAN to manage their online businesses – from selling to collecting orders and handling transactions – via one integrated platform.

The firm’s regional partners include POS Malaysia, MYNIC, and MDEC in Malaysia; POS Indonesia, JNE, and several others in Indonesia.

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“We have helped many clients who were new to e-commerce, but who were receiving orders by the hundreds each day,” said CEO Adris. “Anyone can set up a social media presence to start marketing online, but whether a business will stay ‘small time’ or whether it can be scaled to a profitable business depends on its ability to deliver a consistent level of quality and service.

Speaking on the investment, Gobi’s Founding Partner, Thomas G. Tsao, said: “Social e-commerce is taking off in ASEAN, counting for 30 per cent of digital sales in Southeast Asia. The region’s young population, speedy smartphone and social network adoption is driving this growth. ASEAN is well-positioned for social e-commerce, and AVANA’s all-in-one platform, as well as their focus on smaller, MSME businesses, is sure to position them as a key player in this fast-growing market.”

Gobi Partners is a regional venture capital firm with an investment focus on early and growth-stage innovation and technology companies. Headquartered in Shanghai, Gobi has seven offices across China, Hong Kong, Kuala Lumpur, Singapore, and Jakarta. The firm has raised nine funds to date and has invested in over 170 portfolio companies across China and ASEAN.

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