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Vpon Secures USD 40 Million in Series C Funding Leading into the New Era of Big Data Redefining Data Development in Asian Market
September 10, 2020 – Taipei
Vpon Big Data Group, a leading big data company in Asia, announced today that it has secured USD 40 Million in Series C fund. Investors include government-supported investment institutions Cool Japan Fund (“CJF”) and STIC Investments (“STIC”), Tokyo Stock Exchange listed group, Beenos Inc. (“Beenos”, TSE: 3328), and Hong Kong travel-tech investor TripLabs Limited (“TripLabs”). Vpon aims to leverage the fund not only to further expand its data business in Asia-Pacific region, but also to accelerate its R&D scale to position Taiwan as the global data hub in the near future. Vpon will create a healthy and sustainable ecosystem for data development in Asia and aim to reach the global standard.
CJF is the leading investor in Vpon’s series C funding. CJF was founded in November 2013 as a public-private fund with the aim of supporting and promoting the development of overseas demand for excellent Japanese products and services. CJF aims to commercialize “Cool Japan” and increase overseas demand by providing risk capital for businesses across a variety of areas, including media & content, food & services, fashion & lifestyle, and inbound travel. Currently, CJF has a total capital of JPY 101.3 billion (estimated USD 953 million). Yuji Kato, Board Member, COO and CIO of CJF, commented, “Vpon is uniquely positioned by its Data/AI capability powered by its unparalleled mobile audiences in Asia. We are excited to work with a multinational management team to further enhance its service capability in mobile ad and data analysis, in order to create value in tourism and in cross-border e-commerce business in Asia.”
STIC is one of the largest South Korea-based PE fund, and its investment coverage across whole Asia region. Managing Director of STIC, Andy Chang, said, “In our past investment experience, we found Vpon has an extraordinary market status in the big data sector, particularly for its cross-border data trading business. STIC is impressed by Vpon’s data technology and international management team, and decides to make investment. In future, STIC will utilize our resources to support Vpon in expanding its business to South Korea and other countries across APAC to improve its competitive advantage in the Asian market.”
Beenos is a leading cross-border e-commerce platform established in Japan which focuses not only on cross-region e-commerce business, but also on business incubator that mainly invests in tech startups in Southeast Asia, Japan and the United States to create a diverse ecosystem for subsidiaries. Beenos currently acquires a total capital of JPY 4.8 billion (estimated USD 45 million).
TripLabs is a travel-tech investment company jointly owned by two Hong Kong listed holdings (WWPKG: 08069 and CTEH: 01620). It actively invests in travel-tech related development by leveraging their business network and experience, as well as their professional knowledge on and capability in tourism.
Victor Wu, Founder and CEO of Vpon, said, “under the critical moment of COVID-19, Vpon is honoured to be supported by Japan and South Korea government-backed fund and identified by well-known Japan’s and Hong Kong’s listed enterprises to make a bold investment in big data. This credit goes to Vpon team’s effort in the past years in exploring and expanding the complex international market environment, which includes our seven offices in Taipei, Tokyo, Osaka, Shanghai, Hong Kong, Singapore and Bangkok. With Vpon’s exclusive big data analytics and AI technology, it earns recognition from top clients in first-tier markets such as Japan, Hong Kong, Singapore and Taiwan, winning major clients include Japan National Tourism Organization, Osaka Tourism Board, JR East Japan, JR West Japan, Citibank, Hong Kong Broadband Network etc. They have all collaborated with Vpon on in-depth and long-term data development and business.”
Victor continued, “Vpon will leverage this round of funding on Asia data business and market expansion in Japan, South Korea and Southeast Asia with the support from government-recognized investors. Moreover, the fund will be used to enhance R&D capabilities to actively recruit world top data and AI talents in establishing to be a global standard data corporate. Vpon will also gradually explore global business opportunities apart from Asian market.”
In the past 12 years, Vpon expanded its business to seven first-tier cities in Asia-Pacific region and collaborated with more than 1,500 top clients which include both local corporates and MNCs, as well as government institutions. This has consolidated Vpon’s specialization and reliability in data analytics and application.
The exclusive financial consultant of this round of fund is Mafia Capital, a top financial institution in Asia.