One of Southeast Asia’s largest online platforms for parents, theAsianparent closed a seven-figure Series C funding from new strategic investors Mirae Asset Financial Group and NAVER Corporation through their Mirae Asset-Naver New Growth Fund. The media site with a monthly network reach of nearly 30 million users, secured an eight-figure Series C Funding in July 2019 led by Fosun International, along with other investors such as JD.com, ATM Capital and Redbadge Pacific.
The latest funding will be utilised to further implement theAsianparent’s diversification strategy, which entails expanding its foray into the commerce business through manufacturing and creating it’s own direct-to-consumer line of maternity and baby products.
theAsianparent will also be allocating more resources into improving and expanding its technology infrastructure to support its growing community through investments in advanced machine learning and artificial intelligence support.
With a rise in the female working population and them becoming mothers, the demand for ready-to-use products for themselves and their babies has risen. A report by Grand View Research said the global baby products market size will reach US$16.78 billion by 2025.
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Closer home, in Asia Pacific market, where theAsianparent has its strongest roots, is also expected to expand. There is a growing awareness of the importance of “baby nutrition, hygiene, and safety” especially in developing regions in Asia.
Jikwang Chung, Head of the New Growth Investment Division at Mirae said: “We are always on the lookout for forward-thinking, fast-growing companies to invest in, and that’s exactly what theAsianparent is. We’ve seen how they’ve grown from a start-up to a multinational company with almost 30 million users, and are happy to be a part of their journey.”
Roshni Mahtani, Founder and Group CEO of theAsianparent, said: “As a purpose-driven maternal health-tech company, access to safe and healthy products at an affordable price point is complementary to the content we provide to our thirty-million strong parenting community.”
Through its localised content and community platform, it aims to help more than 50 million parents raise happy and healthy children and families and expand its community reach to new markets with high fertility rates. With its recent senior management hires previously from Dentsu Aegis Network China and Rocket Internet, theAsianparent is working towards a US$100 million revenue milestone within the next few years.
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