Spiral Ventures

Spiral Capital LLP is a Tokyo-based venture capital firm that focuses on investments across various stages, including seed, early, mid, and late-stage companies. Established in 2015, the firm primarily targets sectors such as healthcare, industrials, transportation, logistics, and emerging technologies, which encompass artificial intelligence, the Internet of Things, and blockchain. Spiral Capital seeks investment opportunities in East Asia and Japan, emphasizing the potential of innovative startups and growth-oriented enterprises. The firm has evolved from its previous identity as Spiral Ventures Japan LLP, reflecting its commitment to fostering technological advancements and supporting entrepreneurial initiatives within the region.

Irawan Ganda

Principal and Head of Southeast Asia

Ryuusuke Hirota

Partner

Yuji Horiguchi

Founder, CEO and Managing Partner

Sujit Kunte

Partner and Head of India

Akitomo Naoi

Senior Associate

Tomokazu Okuno

Representative Partner

Shuzo Ueki

Associate

Past deals in Philippines

Qwikwire

Series A in 2020
Qwikwire Inc. is a technology company that specializes in cross-border bill payments, particularly for the real estate sector. Founded in 2013, the firm offers a platform that includes services such as recurring billing, invoicing, and customer dashboards, along with solutions for property management. Qwikwire's platform facilitates cross-border settlements through licensed remittance channels and employs blockchain technology for property listings via a multi-listing engine. The company operates from its headquarters in Makati, Philippines, and has an additional office in San Jose, California, providing comprehensive payment solutions that enable enterprises to access various banking methods, including electronic checks and card payments.

Aqwire

Series A in 2020
Aqwire LLC, founded in 2013 and based in San Jose, California, specializes in software solutions for property developers and real estate companies, facilitating global payment collection. The company's offerings include AQWIRE Billing, which enables cross-border property management and payment processing; AQWIRE Loans, assisting home buyers with mortgage applications; and AQWIRE Listing, a multi-listing platform for real estate professionals to generate leads and showcase properties. By leveraging Smart Contract technology, Aqwire streamlines international real estate transactions, reducing common obstacles in the sector. The platform also features services such as recurring billing, invoicing, customer dashboards, and direct payment options, enhancing productivity and payment tracking for users. Through its comprehensive services, Aqwire connects developers and brokers with foreign property investors, expanding their market reach.

SwipeRx

Series A in 2017
mClinica develops mobile platforms that strengthen the pharmaceutical supply chain, generate data, improve patient adherence to medication, and build the capacity of the pharmacy workforce. Since 2017, mClinica has connected 150,000 pharmacy professionals and 40,000 pharmacies through a single digital channel. Their users reach approximately 150 million patients each month. mClinica currently operates across Indonesia, Philippines, Vietnam, Cambodia, Thailand, Malaysia, and Singapore with capacity for expansion. Their team is composed of over 120 team members including experts in public health, data science, and pharmacy. mClinica is supported by impact investors like the Global Innovation Fund (backed by USAID, UKAID, DFAT, Swedish Government, and the Omidyar Network) and Patamar Capital (formerly Unitus Impact) as well as other investors from the US, Europe, and Asia. mClinica implements projects both digitally and on the ground to connect the world’s pharmacies and transform global health. mClinica follows a social enterprise business model in which they seek double-bottom line returns – maximizing both financial returns and social impact. mClinica’s rapid growth and success is increasingly recognized. mClinica was the recipient of the Data Driven Apps Award of the World Government Summit in 2019, USAID-FHI360 Data for Resilience Award, Pierre Fabre Foundation Prize for eHealth Innovation, and Hack Osaka. The company has consistently been recognized as one of the most innovative startups in healthcare in Asia Pacific.

First Circle

Seed Round in 2016
First Circle is a financial services company based in Taguig, Philippines, focused on providing lending solutions to small and medium enterprises (SMEs) across Southeast Asia. Founded in 2015, it offers a range of services, including consumer lending, mortgages, and asset-based lending, with a particular emphasis on short-term loans and trade financing. The company's innovative online platform allows SMEs to access collateral-free working capital, enhancing their growth potential. First Circle leverages advanced data analytics and offers dedicated support through customer success representatives, fostering a community of business owners and providing valuable resources to help businesses thrive. The company's mission is to empower SMEs by improving their access to funding and enabling them to expand beyond their immediate networks.

PawnHero

Seed Round in 2016
PawnHero – the 1st online pawnshop in Southeast Asia, will solve this problem of expensive credit and interest rates. We provide an easy, fair and convenient way of overcoming short-term cash needs. This is a completely new way of doing business in the industry, truly revolutionary, created by genuine visionaries.

Ayannah

Series A in 2015
Ayannah is a prominent provider of digital financial services aimed at the emerging middle class, particularly focusing on migrants and unbanked individuals. The company offers affordable and accessible digital commerce and payment solutions to promote financial inclusion and literacy among underserved populations. By empowering unbanked migrants, Ayannah enables them to manage their remittances more effectively, allowing for better support to their beneficiaries in their home countries. The company's innovative platform encompasses a range of services, including payments, commerce, and analytics, primarily delivered through social and mobile channels. With millions of online and mobile transactions facilitated, Ayannah is supported by a skilled team of experienced professionals and emerging talent in web and mobile application development. The company enjoys a growing and loyal customer base worldwide, contributing to stable and recurring revenue streams.

SwipeRx

Seed Round in 2014
mClinica develops mobile platforms that strengthen the pharmaceutical supply chain, generate data, improve patient adherence to medication, and build the capacity of the pharmacy workforce. Since 2017, mClinica has connected 150,000 pharmacy professionals and 40,000 pharmacies through a single digital channel. Their users reach approximately 150 million patients each month. mClinica currently operates across Indonesia, Philippines, Vietnam, Cambodia, Thailand, Malaysia, and Singapore with capacity for expansion. Their team is composed of over 120 team members including experts in public health, data science, and pharmacy. mClinica is supported by impact investors like the Global Innovation Fund (backed by USAID, UKAID, DFAT, Swedish Government, and the Omidyar Network) and Patamar Capital (formerly Unitus Impact) as well as other investors from the US, Europe, and Asia. mClinica implements projects both digitally and on the ground to connect the world’s pharmacies and transform global health. mClinica follows a social enterprise business model in which they seek double-bottom line returns – maximizing both financial returns and social impact. mClinica’s rapid growth and success is increasingly recognized. mClinica was the recipient of the Data Driven Apps Award of the World Government Summit in 2019, USAID-FHI360 Data for Resilience Award, Pierre Fabre Foundation Prize for eHealth Innovation, and Hack Osaka. The company has consistently been recognized as one of the most innovative startups in healthcare in Asia Pacific.

Ayannah

Seed Round in 2014
Ayannah is a prominent provider of digital financial services aimed at the emerging middle class, particularly focusing on migrants and unbanked individuals. The company offers affordable and accessible digital commerce and payment solutions to promote financial inclusion and literacy among underserved populations. By empowering unbanked migrants, Ayannah enables them to manage their remittances more effectively, allowing for better support to their beneficiaries in their home countries. The company's innovative platform encompasses a range of services, including payments, commerce, and analytics, primarily delivered through social and mobile channels. With millions of online and mobile transactions facilitated, Ayannah is supported by a skilled team of experienced professionals and emerging talent in web and mobile application development. The company enjoys a growing and loyal customer base worldwide, contributing to stable and recurring revenue streams.

ZipMatch

Seed Round in 2014
ZipMatch is an online marketplace that streamlines the real estate process in the Philippines for buyers, brokers, and property developers. Founded in 2012 and headquartered in Taguig City, the platform offers a range of services designed to simplify property transactions. Users can access real estate trends, virtual property tours, and 360-degree home viewings to make informed decisions. Additionally, ZipMatch provides ZipMatch Pro, a suite of digital tools aimed at supporting real estate professionals, including licensed brokers and developers. By addressing the complexities of the real estate market, ZipMatch serves as a property matchmaker, helping users efficiently connect with suitable properties and brokers.

Ayannah

Seed Round in 2014
Ayannah is a prominent provider of digital financial services aimed at the emerging middle class, particularly focusing on migrants and unbanked individuals. The company offers affordable and accessible digital commerce and payment solutions to promote financial inclusion and literacy among underserved populations. By empowering unbanked migrants, Ayannah enables them to manage their remittances more effectively, allowing for better support to their beneficiaries in their home countries. The company's innovative platform encompasses a range of services, including payments, commerce, and analytics, primarily delivered through social and mobile channels. With millions of online and mobile transactions facilitated, Ayannah is supported by a skilled team of experienced professionals and emerging talent in web and mobile application development. The company enjoys a growing and loyal customer base worldwide, contributing to stable and recurring revenue streams.
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