917Ventures invests P2.5 million in three companies.
917Ventures, a venture capital firm, said on Wednesday that at least three companies had received PHP2.5 million in seed financing.
As an IT (information technology) training program, an online community platform for Korean cultural lovers, and a digital platform for non-tech-savvy merchants, KodeGo, Fanlife, and BentaTV were selected to bring their companies to life.
“We are delighted to discover ideas that are in line with our goal of enhancing Filipinos’ digital lifestyles and assisting in the resolution of social problems via technology. In a statement, 917Ventures managing director Vince Yamat stated, “These ventures are already getting ready to spin out into a business, and we are here to give them the assistance they need.”
Last year, both Fanlife and KodeGo enrolled in 917Ventures’ three-month Velocity Bootcamp. The program’s goal is to assist external talent in bringing their ideas to 917Ventures, which will assist them in starting their own companies.
BentaTV, on the other hand, was a participant in 917Ventures’ Venture Builder program. The company will provide an internet platform for non-technical merchants to make live-selling simpler.
“While several online selling platforms compete in the Philippines, we saw a lack of emphasis on the vendors. Because the epidemic has made face-to-face sales difficult, many merchants are turning to internet selling, particularly live selling, to promote their wares. We wanted BentaTV to make the move easier for these sellers,” said Gio Tantoco, a BentaTV venture builder.
KodeGo will act as an online Bootcamp with a “learn now, pay later” system for individuals interested in learning more about IT with the aim of improving employability.
Joshua Sta. Ana, KodeGo’s venture builder, has completely committed the company to them, according to 917Ventures, so he may concentrate on his academics. Because more companies are seeking great software engineering abilities, Sta. Ana wants to prepare students for digital transformation.
Because Korean culture is extremely popular in the Philippines, the company Fanlife would use virtual concerts and live streaming to bring fans closer to their heroes.
Despite the epidemic, Aya Villa-Real, a Fanlife venture builder, said Velocity has provided them the chance to connect artists and followers.
Meanwhile, 917Ventures has been on the lookout for new projects to start in order to better the lives of Filipinos. It continues to launch and expand innovative company concepts with a high potential for growth.
In addition, the 917Ventures is a component of Globe’s 5G hackathon, which offers to mentor as well as an opportunity for participants to propose ideas and solutions to the country’s varied requirements.