Edamama, a digital-first e-commerce and community platform founded in 2020 in the Philippines, offers essential resources and products especially curated for parents, delivering about 4 million products to families across the country since its launch.
“[Our] mission is to empower parents and caregivers by offering a wide range of products and services that cater to the unique needs of families,” says the platform’s co-founder, Nishant D’Souza. “With a commitment to quality, innovation, and customer satisfaction, Edamama seeks to be the trusted partner of parents by helping them simplify decision-making and find everyday joy in raising a family.”
The start-up recently concluded its successful Series A+ funding round, securing more than USD35 million in total funding spearheaded by the Ayala Corporation Technology Innovation Venture (ACTIVE) Fund, the country’s largest venture capital fund managed by Kickstart Ventures and supported by Ayala Corporation (AC) and its subsidiaries.
The start-up’s existing investors Kickstart Ventures, Gentree Fund, Innoven Capital, as well as new investor GS Group, a prominent South Korean retail giant, also participated in the funding round.
Retail in Asia talks to Edamama co-founder Nishant D’Souza on his ambitions for the start-up.
RiA: Please tell us about why you created Edamama.
Nishant D’Souza: We had a strong thesis on the potential of e-commerce in the Philippines, which is amongst the fastest growing in the world today, projected to be valued at USD60 billion by 2030. The growth potential of e-commerce as a whole combined with the promise of the mom, baby and kid vertical in particular is what intrigued us as we become first-time parents ourselves.
This country has amongst the highest fertility rates amongst major economies in Southeast Asia, with the total Philippine mother, baby and kid retail segment estimated to be worth over USD10 billion. However, the vision for Edamama was always omnichannel, given 90 percent of retail sales in the Philippines still occur via brick-and-mortar channels. With the dissipation of the pandemic, we are now realising that vision through the roll-out of our physical stores, shopping expos and other offline retail initiatives.
RiA: Can you share some of Edamama’s milestones?
Nishant D’Souza: Three years since our launch back in May of 2020, we have delivered about 4 million products to Filipino households across the country via our proprietary e-commerce app – which was one of the top 10 most downloaded shopping apps in the country last year.
In the past year alone since lockdown restrictions were lifted, we’ve organised three successful expo events, and we’re thrilled to share that four more are already in the pipeline for 2024.
We’ve opened two pop-up and three permanent physical stores, and are poised for further expansion in the coming year, reflecting Edamama’s commitment to its mission and the evolving needs of the Filipino family.
Proud to also say that Edamama has been recognised at both regional and global scales, being selected as one of Forbes Asia’s “100 To Watch” ventures, and a member of Endeavor Global, the premier network for high-impact entrepreneurs worldwide.
RiA: Where do you see Edamama in five years?
Nishant D’Souza: Our goal is to be where our customers are. In the next five years, as we continue to improve our online products and services, our goal is to open 100+ physical stores in the Philippines. This will allow us to bring our curated parenting experience closer to families nationwide, providing a seamless blend of online convenience and the personalised touch of our physical stores.