AppWorks

Founded in 2010, AppWorks is a Taipei-based venture capital firm that invests in seed and early-stage startups across Southeast Asia. The firm focuses on sectors such as artificial intelligence, internet of things, web3, and blockchain. Additionally, it offers acceleration services to support its portfolio companies.

Jack An

Associate

Joseph Chan

Partner

Alyssa Chen

Principal

Nice Cheng

Partner

Norman Chi

Analyst

Past deals in Retail

Jiraffe

Series E in 2024
Founded in 2014, Jiraffe operates online platforms that facilitate price comparisons and transactions for iPhone repairs, parts replacement, and smartphone purchases. Headquartered in Tokyo, Japan, the company aims to empower customers with informed buying decisions.

Borong

Non Equity Assistance in 2024
Borong is a B2B eCommerce platform that connects suppliers and retailers for efficient sourcing and trading of consumer-packaged goods. It enables retailers to source products directly from wholesalers, manufacturers, and principals, digitize sales orders, and track inventories, thereby maximizing distribution.

Inflow

Seed Round in 2023
Inflow is a supply chain and manufacturing platform tailored for fashion brands, particularly small and medium-sized enterprises. The company provides a comprehensive solution that simplifies the entire supply chain process, from sourcing to manufacturing and shipping. Inflow offers a diverse network of suppliers and an efficient management system that allows clients to easily source, track, and oversee their production. Additionally, the platform includes options for trendy designs and sustainable fabric choices, catering to the evolving needs of the fashion industry while ensuring secure payment methods for transactions.

EdenFarm Indonesia

Series A in 2023
EdenFarm Indonesia specializes in the distribution of fresh produce, including fruits, vegetables, and dry goods, directly to restaurants across the country. By collaborating with local farmers and central markets, the company eliminates intermediaries in the supply chain, allowing for more efficient delivery and better profit margins for farmers. This direct connection fosters a sustainable food distribution system, ensuring that businesses receive high-quality products while supporting local agriculture. Through its services, EdenFarm aims to enhance the economic viability of farmers and improve access to fresh produce for the restaurant industry in Indonesia.

Pace

Series A in 2022
Pace is a fintech company that offers an online payment platform specializing in buy-now-pay-later services. This service enables users to shop confidently without incurring interest or hidden fees. By allowing customers to split their purchases into three interest-free installments, Pace provides a flexible way for shoppers to manage their spending while still accessing the items they need or desire. The platform's technology effectively matches users with suitable spending limits, enhancing their overall shopping experience.

EdenFarm Indonesia

Series A in 2021
EdenFarm Indonesia specializes in the distribution of fresh produce, including fruits, vegetables, and dry goods, directly to restaurants across the country. By collaborating with local farmers and central markets, the company eliminates intermediaries in the supply chain, allowing for more efficient delivery and better profit margins for farmers. This direct connection fosters a sustainable food distribution system, ensuring that businesses receive high-quality products while supporting local agriculture. Through its services, EdenFarm aims to enhance the economic viability of farmers and improve access to fresh produce for the restaurant industry in Indonesia.

Fabelio

Series C in 2020
Fabelio is a design-focused e-commerce platform based in Indonesia, specializing in high-quality furniture and home decor. The company collaborates with local designers to create original pieces and partners with reputable factories to ensure good craftsmanship at competitive prices. Fabelio's platform allows customers to browse a diverse selection of furniture for various spaces, including living rooms, dining areas, bedrooms, and workspaces. The company emphasizes customer satisfaction by offering attractive services such as free same-day delivery and a two-year warranty on all products. With plans to expand throughout Southeast Asia, Fabelio aims to enhance the home furnishing experience by connecting buyers with unique, well-designed products.

ShopBack

Series A in 2017
ShopBack is a leading online shopping platform in Southeast Asia that focuses on enhancing consumer purchasing decisions through cashback and rewards. Operating in several countries including Singapore, Malaysia, Indonesia, the Philippines, Thailand, and Taiwan, the company facilitates over 1,000 orders per hour by offering up to 30% cashback on purchases made through its platform. With a portfolio of over 1,300 merchant partners such as Uber, Expedia, and Lazada, ShopBack provides consumers with curated deals while simultaneously delivering effective marketing solutions for its business partners. The company is recognized for its impact in the industry, having received multiple awards, including accolades for Best Start-up and Best Innovative Infocomm Products at the Singapore Infocomm Technology Federation Awards, as well as the Emerging Enterprise Award, highlighting its role in enriching the shopping experience for consumers.

Johomy

Seed Round in 2016
Founded in 2014, Johomy is an online shopping site.

17Life

Series A in 2016
17Life is a leading online-to-offline (O2O) platform based in Taipei, Taiwan, specializing in the sale of group discount vouchers. The company aims to enhance the consumer shopping experience by offering an accessible e-commerce marketplace that caters to diverse lifestyle needs. By integrating both online and offline services, 17Life effectively meets the demands of modern consumers for recreational activities and everyday purchases. The platform collaborates with major partners, such as Shin Kong Mitsukoshi, to create a comprehensive ecosystem that facilitates intelligent shopping anytime and anywhere.

UrMart

Seed Round in 2016
UrMart, founded in 2015, operates an e-commerce platform dedicated to providing a curated selection of high-quality breakfast cereals and healthy snacks. The company focuses on offering a variety of products, including oatmeal, cereals, nuts, dried fruits, honey, and jam, aimed at busy individuals seeking nutritious meal options. With a commitment to promoting a dynamic and healthy lifestyle, UrMart has achieved significant market success, reaching a monthly turnover exceeding 10 million Taiwan dollars and selling thousands of kilograms of products. The company's core team utilizes strong data analysis capabilities to understand consumer preferences and enhance its offerings, positioning UrMart as a leading online destination for healthy breakfast solutions in Taiwan.

FashionGuide

Venture Round in 2016
FashionGuide, established in 2008, is Taiwan's largest beauty community platform, focusing on fashion and beauty content. The platform provides customer reviews, information, and discussion channels that empower users to stay informed about mainstream trends and products in the industry. In addition to serving as a community hub for beauty enthusiasts, FashionGuide offers integrated marketing services for major beauty brands, particularly those based in Europe and America, and has successfully promoted a unique beauty product certification mark. With a comprehensive evaluation process, FashionGuide has awarded this mark to over 360 brands, highlighting quality and consumer trust. Furthermore, the company operates its own beauty brand, FG 1028, alongside other popular beauty products to cater to consumer preferences.

91APP

Series A in 2015
91APP, established in 2012 and headquartered in Taipei, Taiwan, specializes in developing and marketing customized applications for small merchants in Taiwan. The company is a leading provider of omnichannel commerce solutions, offering brand-owned shopping apps and websites that enable retailers to engage with customers across multiple platforms, driving direct-to-consumer e-commerce growth and enhancing operational efficiency.

Uitox

Series B in 2014
Uitox Corporation is a Taiwan-based provider of e-commerce tools designed for brands and suppliers to establish and manage their online stores. Founded in 2012, the company specializes in offering a comprehensive suite of services that includes e-commerce website development, warehouse management, logistics, payment processing, and cross-border sales solutions. Uitox enables suppliers to upload their products to its cloud platform, where they undergo category mapping and pricing adjustments before being made available on various e-commerce sites globally. The company manages the entire fulfillment process, including customs duties and translation services, to ensure a seamless shopping experience for consumers. With a growing team of over 300 employees, Uitox has expanded its reach to multiple countries, positioning itself as a significant player in the global e-commerce landscape.

Fandora

Series A in 2014
Fandora is a Taiwanese business established in 2013, operating an online shopping platform that curates and sells unique merchandise featuring illustrations from over 2,600 local creators. With a catalog of more than 70,000 works, Fandora connects these artists with consumers, providing exposure for creators and customized products for buyers at affordable prices. The company facilitates commercialization by offering illustration merchandise through its online shop, Fandora Shop. Since its inception, Fandora has collaborated with thousands of illustrators and designers, generating over NT$10 million in sales.

Kuo Brothers

Series B in 2014
Kuobrothers Corp operates in the e-commerce retail sector, primarily focusing on the B2B2C market. The company encompasses non-store online retailing and online trading platform operations, with the majority of its revenue generated from non-store online retailing. Kuobrothers diversifies its income through various product sales, including daily necessities, electronics, fresh food, and leisure items. Additionally, the company provides platform and management services to customers as an agent, allowing it to recognize net income from these services. This multifaceted approach enables Kuobrothers to maintain a robust presence in the competitive e-commerce landscape.

bring4U

Angel Round in 2013
bring4U, which develops a background for purchasing agents, integrates operating indicators accumulated on major platforms, accurately analyses the market, systematically operates online stores, and more. It is a purchasing media matching platform.

Kuo Brothers

Series A in 2013
Kuobrothers Corp operates in the e-commerce retail sector, primarily focusing on the B2B2C market. The company encompasses non-store online retailing and online trading platform operations, with the majority of its revenue generated from non-store online retailing. Kuobrothers diversifies its income through various product sales, including daily necessities, electronics, fresh food, and leisure items. Additionally, the company provides platform and management services to customers as an agent, allowing it to recognize net income from these services. This multifaceted approach enables Kuobrothers to maintain a robust presence in the competitive e-commerce landscape.

Migo Corporation

Seed Round in 2013
Migo Corporation, founded in 1998, specializes in big data and advanced analytics services tailored for the retail sector. The company leverages its extensive expertise in information technology, computer science, business intelligence, and marketing strategy to develop predictive analytics tools that enhance revenue while minimizing costs. Migo's unique approach integrates commercial, technical, and business intelligence data to identify patterns and generate real-time marketing recommendations. This capability transforms customer intelligence into actionable insights, improving both marketer revenue and shopper engagement. Migo employs its proprietary D.I.E.T. blueprint—comprising Data integration, Intelligence, Engagement, and Tracking—to enable retailers to harness data effectively at various levels, from broader campaigns to individual customer interactions. With over 600 clients, Migo has established itself as a leader in applying big data concepts to create customer-centric marketing organizations.

GoodLife

Angel Round in 2010
GoodLife is a provider of a website that offers a daily deals information platform. Their platform allows clients to experience steep cuisine and spa services at a reduced cost while also providing a variety of deals for salons, restaurants, transportation, drug stores, cafes, and other associated industries. Users can purchase offers from many companies and online merchants directly on their websites.
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