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A drought in global venture capital activity has not deterred startups across Asia from breaking new ground. This year’s Forbes Asia 100 to Watch list spotlights small companies and startups across the region that are targeting underserved markets or applying new technologies.
TipTip, a monetization platform for content creators based in Indonesia, has secured its $13 million Series A funding round, following thestartup’s $10 million seed round funding earlier this year. The Series A funding was led by East Ventures with continued participation from Vertex, SMDV, B.I.G. Ventures and prominent angels.
There are a lot of talented people, like chefs and musicians, in Southeast Asia who can earn money through their work online, says TipTip founder Albert Lucius. But many of them don’t have the social media clout to attract advertisers. TipTip wants to help them build up followers in their communities using an offline/online strategy, and monetize by selling content instead of relying on advertising algorithms. The Indonesian-based startup announced today it has raised $13 million in Series A funding, just eight months after its $10 million Series A in March.
Vertex Ventures, SMDV, B.I.G. Ventures and prominent angels joined the round.
On the back of growing adoption and longer time spent on gaming during the COVID-19 pandemic, MPL recorded an eightfold growth in revenue.