Indonesia-based VC firm East Ventures has invested in pet health and nutrition company Compawnion, while We Founder Circle’s EvolveX has invested in MyEra, a tech-based platform which is dedicated to redefining the future of e-commerce.
Compawnion to launch cat food products next year
Indonesian pet food company Compawnion has secured a new funding led by venture capital firm East Ventures, according to an announcement.
The fund will be allocated to accelerate their distribution, research and development initiatives, broaden the company’s product portfolio, and effectively reach a larger demographic of pet owners who are looking for more health-conscious and sustainable choices for their beloved companions.
“With East Ventures’s invaluable support, we are well-positioned to seize the significant opportunities within Indonesia’s mass and thriving pet food market. We are passionate about delivering our mission to offer ease of mind for pet ‘pawrents’ by providing a wholesome and fresh diet for pets,” said Stephani Herman, co-founder and CEO of Compawnion.
Compawnion was founded in 2020 by Stephani Herman (co-founder and CEO), Tania Suganda (co-founder and chief marketing officer), and Valerie Amintohir (co-founder and chief product officer).
Compawnion is dedicated to establishing a comprehensive pet ecosystem in Indonesia so pet owners can have healthy and quality furry members. The company began its journey with its first brand, Pawmeals, which is a freshly natural and nutritious frozen cooked dog food.
Compawnion is set to diversify its product portfolio by entering the cat food market in 2024.
We Founder Circle, Vikas Aggarwal also invest in MyEra
EvolveX, an early-stage programme founded by India’s We Founder Circle, has announced its most recent investment into MyEra, a tech-based platform which is dedicated to redefining the future of e-commerce.
This funding round represents a significant milestone in MyEra’s journey and reinforces EvolveX’s commitment to supporting promising startups, according to a statement.
The pre-seed funding round was led by EvolveX, with notable contributions from We Founder Circle and Vikas Aggarwal.
MyEra, a standout participant in EvolveX’s Cohort 3 which was launched in April 2023, has captured the attention of investors with its innovative suite of intelligent apps.
It is on a mission to simplify marketing and sales processes, and its groundbreaking MyEra API, also known as the MyEra Button, empowers online shoppers to personalise products and virtually try them before making a purchase. This technology enhances the shopping experience, leading to increased customer satisfaction and reduced returns for online retailers.
Prior to this, MyEra had secured funds from AIC-BIMTECH – SISFS and iStart – DoIT&C.
MyEra plans to utilise the recently raised capital to expand its technical team, build robust technology infrastructure, conduct public outreach, develop and maintain its platform, and enhance technical competence.