Ecommerce service provider Intrepid Group said it has raised an undisclosed amount in a series A funding round led by Kairous Capital, a regional VC firm focused on cross-border investments between China and Southeast Asia.
Other investors in the round include Sun SEA Capital and 500 Startups Vietnam.
Photo credit: Intrepid
Intrepid helps brands optimize their ecommerce presence on platforms like Lazada, Shopee, Tokopedia, Facebook, and Instagram. It helps businesses use technologies like AI for automation, run digital marketing campaigns, and refine their strategy through its data services.
The Singapore-headquartered company said it intends to become a leading player in Southeast Asia that offers brands a one-stop solution with localized access to key markets in the region.
Intrepid has offices in Indonesia, the Philippines, and Vietnam, with ongoing office openings in Thailand and Malaysia.
The company said it was able to expand into four countries in a span of 12 months. It also claims to have reached a peak of over US$10 million in gross merchandise value during the 11.11 sale event last month.
“Consumer behavior in Southeast Asia is rapidly evolving – many traditionally siloed activities on the brand side now need to converge, and we can assist in that new approach,” said Jasper Knoben, chief commercial officer of Intrepid.
The e-commerce industry in the region is estimated to be a US$40 billion industry this year. It is projected to reach US$150 billion by 2025, according to Google, Temasek, and Bain & Company’s e-Conomy SEA report.