Transcelestial, the company building the future of Superfast Global Internet Distribution, entered the Philippine market with $2-million strategic investment from Kickstart Ventures under Ayala Corp. Technology Innovation Venture Fund.
This is the first publicly announced investment by Kickstart Ventures from the recently announced $180-million ACTIVE Fund which is supported by Ayala Corp. and subsidiaries AC Energy, AC Industrials, AC Ventures, Bank of Philippine Islands and Globe Telecom.
The fund seeks to invest in Series A to D startups globally and has four investment themes focused on the future of transactions and transfers, work and human capital, resource allocation and availability, and property, homes and community life.
“The team at Kickstart have been fully aligned with our goals of solving the last mile and global bottlenecks in internet distribution. We could not have asked for a better partner to help us not only work with Globe in Philippines but also advise us on bringing our current and future products to solve some of the challenges in the archipelago nation,” said Rohit Jha, chief executive of Transcelestial.