News portal DealStreetAsia raises seed funding

Singapore-based media venture DealStreetAsia Pte Ltd announced on December 15 it had seed funding from Asian investors to strengthen the existing team and expand operations to Hong Kong and China.

The venture is focusing on the Vietnamese market also.

The of the investment has not been disclosed, while the investors are founder and CEO of India's largest mobile commerce platform Paytm Vijay Shekhar Sharma, the Singapore Angel Network and the Hindustan Times Media Group, which publishes media products in India and Singapore.

Proceeds from this round would also be used in the launch of the company's deal analytics and data platform, DealStreetAsia said, adding that it expected a larger Series-A round in Q1 next year.

DealStreetAsia currently has direct presence in India and seven ASEAN countries, including Viet Nam, after more than a year of its launch. In Southeast Asia, it has emerged as a leading full-fledged financial portal, which tracks the world's most promising emerging and frontier markets, with an average of more than 40 news and analysis stories daily, including on the business of start-ups.

"Asia is at the centre of the new world economic order. At DealStreetAsia, I found the team to be producing credible stories from this region for the world. It is my pleasure and honour to be part of this story," Paytm CEO Vijay Sharma said.

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