Tech in Asia, an online news site covering startup and tech news across Asia, has announced that it has raised $4 million in funding.
The raise was led by the SB ISAT Fund, a $50 million venture fund launched by Indosat and SoftBank last year, with participation from Facebook co-founder Eduardo Saverin, and Walden International. Existing investors East Ventures, Fenox Venture Capital, and Simile Venture Partners also participated in the round.
The funds will be used to expand its team and build more features for the Tech in Asia community.
“We are humbled to have found a league of distinguished investors who believe in the value we want to bring to the ecosystem. This investment will be used to evolve Tech in Asia’s businesses so that we can better serve the needs of our community,” said Willis Wee, founder and CEO of Tech in Asia.
Teddy Himler, vice president of the SB ISAT Fund, said, “We are excited to partner with Willis and the Tech in Asia team as they solidify their position as Asia’s leading source for technology-related content and pursue other strategies to bolster Asia’s technology community.”
The raise comes just a few weeks after Tech in Asia unveiled a new look website which put an emphasis on contributions and insights from the publication’s community in a bid to boost engagement and help position the site as an authority on the Asian tech scene.
The overhaul has allowed readers to publish content to the site’s homepage, where it sits alongside editorial content and is upvoted by readers.
Tech in Asia was also part of Y Combinator’s Winter 2015 batch earlier this year. While at the accelerator it unveiled TechList, an online tool enabling investors to track startups across the Asia region.
The $4 million raised by Tech in Asia and the acquisition of Re/code – which has a lucrative events arm – by Vox Media shows the value being placed on media organisations that are able to diversify their offerings.