Funding made easy: Ayalas invest in 3 startups

Funding made easy: Ayalas invest in 3 startups

The Ayala Group, through Globe Telecom’s incubator unit 917Ventures, has provided a total of $7.5 million in funding to local startups Fanlife, KodeGo and BentaTV.

Fanlife, KodeGo and BentaTV were part of the first batch which joined 917Ventures’ three-month Velocity bootcamp last December.

BentaTV, on the other hand, came from the company’s internal Venture Builder program.

Each venture will receive up to P2.5 million each from 917Ventures.

Through the Velocity program, startups bring external talent and ideas into 917Ventures, to provide it the opportunity to create businesses.

“We are happy to find ideas that are aligned with our vision of improving the digital lifestyle of Filipinos and helping solve social issues through technology. These ventures are already getting ready to spin off into a company so we are here to provide them with the support they need,” said Vince Yamat, 917Ventures managing director.

“We look forward to seeing them grow and take off to be successful digital pioneers,” he added.

With K-culture being very popular in the Philippines, Fanlife brings fans closer to their favorite K-Pop or K-Drama stars through exclusive experiences such as virtual concerts and livestreams, and official merchandise.

KodeGo, on the other hand, is an online bootcamp for those who would like to learn or improve in various areas of IT so they can land the right jobs.

It offers a “learn now, pay later” model where students can focus on learning without percentage of their income once they land a job with a P30,000 minimum income threshold.

Meanwhile, BentaTV is an online seller platform that simplifies live-selling and social media selling processes for non-tech-savvy informal merchants.

This allows sellers to easily start and grow their online business with just a mobile phone and an internet connection.

917Ventures continues to launch and accelerate new business ideas that have the potential to grow and scale fast.

It also provides venture builders the advantage of working with companies and other startups under 917Ventures and the Globe group to maximize their reach and opportunities.

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