Gobi-Core Philippine Fund, the $10-million fund established by venture capital firms Gobi Partners and Core Capital, announced its investment in Kumu, a local live streaming platform, marking the fund’s third investment since its launch in 2018.
Details of the investment were not disclosed. Kumu will join eduction startup Edukasyon.ph and insurtech startup MariaHealth in the portfolio of Gobi-Core, which seeks to invest in seven local startups by 2021.
Kumu has become one of the fastest rising Philippine startups in the last two years. Its user base has more than doubled since the start of the year, surpassing the five-million mark last month.
Gobi-Core Philippine Fund was launched in 2018 to give Philippine-based startups access to Gobi’s regional platform. The fund seeks to support seed-stage and pre-Series A startups in the Philippines.
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