- DOON raises $1.5M pre-seed
- The Philippine car-sharing startup targets web and mobile platform development
- International investors show interest
Riding the Wave of Innovation
DOON, a peer-to-peer car-sharing platform based in the Philippines, has successfully raised $1.5 million in pre-seed funding.
This financial boost combines both debt and equity components, setting the stage for significant growth in the Southeast Asian market.
Collaborative Efforts Fuel Progress
AHG Lab, a venture studio, played a pivotal role in DOON’s initial funding. The studio will continue its support by contributing to technology development and financial strategies.
Esquire Financing provided a debt facility of up to $1 million, also participating in the equity round.
Gearing Up for Expansion
The remaining $500,000 in equity came from angel investors and family offices across the Philippines, Singapore, and Taiwan.
DOON plans to allocate these funds towards developing its web marketplace and enhancing its mobile car-sharing platform, aiming to revolutionize transportation in the region.
To read the original article: https://www.techinasia.com/news/philippines-doon-15m-enhance-carsharing-platform
