Digital News Asia (DNA), an independent technology news portal founded by tech-journo Karamjit Singh, scored a major victory with a RM1 million (US$300,000) seed funding from a Malaysian-based private equity fund.
“Lots of hard work ahead of us to realise our vision of building DNA into the most credible tech media in Southeast Asia!,” came an immediate reply from Karamjit when contacted by Asia Samachar.
In a statement today (Nov 10, 2014), DNA said the investment, from IdeaRiverRun (IRR) wholly-owned by businessman Tan Sri Vincent Lee, will fund its regional expansion in Southeast Asia, further build its team, and to develop new products and channels.
DNA was established to act as a catalyst for the growth and development of the ICT industry in Southeast Asia by providing insightful and analytical coverage of the ecosystem in these countries, the statement says.
Headquartered in Petaling Jaya, Malaysia, it expanded to Singapore in October 2014, and will be looking at expanding into Indonesia in the next few months, and beyond that, into Thailand and the Philippines, it adds.
Karamjit, a former editor at The Edge business weekly, was some time ago active in Sikh youth activities, including editing The Sikh, a magazine published by the Sikh Naujawan Sabha Malaysia, a Malaysian-based Sikh youth body.
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