Mediaload, a Cambodia-based digital media company, has secured an undisclosed sum in Series A funding round from True Digital Group (TDG), a digital arm of Thai telco True Corporation.
The startup, which also has operations in Myanmar, will use the funding to enhance its content offering on its platform and expand into new regions.
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“With this strategic investment, we will be able to leverage our content offerings in our existing markets and expand to other markets in the region,” said Vichet In, CEO of Mediaload.
Founded by siblings Vichet, Vichea and Visal In, Mediaload runs Khmerload in Cambodia and Myanmarload in Myanmar. It offers millennial-focused content on a wide range of topics, including entertainment and sports, and claims to have eight million unique users per month with 20 million social media followers.
The startup has previously received US$200,000 in seed funding from 500 Startups.
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Mediaload’s parent Groupin operates e-commerce startup Little Digital in Cambodia, which in 2019 raised US$5 million in Series A from PE firm Belt Road Capital Management.
“As the region’s digital enabler, we look forward to bringing the standard we set for TrueID’s premium lifestyle content and services to the audiences in Cambodia and Myanmar,” said Dr Michael Gryseels, Executive Vice Chairman of TDG.
“With Mediaload’s existing markets, we believe that they will be able to leverage their local expertise to enhance the digital lifestyle experiences that are true to the people while maintaining the quality standard known from True Digital Group. We hope that the partnership will be an important milestone in uplifting the digital potential for lifestyle content and services in Southeast Asia,” Gryseels added.
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TDG currently operates in Thailand, Indonesia, the Philippines, and Vietnam with a roadmap to expand further across South Asia, leveraging the economies of scale of digital platforms.
According to Statista, the value of the online media market in Southeast Asia in 2019 was US$14.3 billion. Indonesia had the highest online media market value from selected countries, of which the online media market value was US$3.5 billion.
Image Credit: Mediaload
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