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4

About ASA Ventures

ASA Ventures is a hybrid venture capital firm established in 2003 in Portugal and is currently headquartered in Dubai. It is the combined strength of professional expertise and smart capital, adding value to the start-up ecosystem with a unique investment philosophy and in-house expertise

ASA Ventures Headquarter Location

Dubai,

United Arab Emirates

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Latest ASA Ventures News

ZON, the Region’s First Fully Decentralized Mobile E-commerce Platform, Closes UAE’s Largest Ever Seed Funding Round

Apr 6, 2020

Share ASA Ventures and a consortium of private investors have committed US$8 million to ZON, the first fully decentralized mobile e-commerce platform with over 32,000 sellers in its network ZON, the region’s first fully decentralized mobile-only e-commerce network, has closed its seed funding round at an unprecedented US$8 million, making it the largest recorded single seed round in the UAE. The seed round was led by ASA Ventures and a consortium of private investors looking to support the disruption of the e-commerce sector in the region and beyond. According to Arif Saiyad, Chief Executive Officer and Co-Founder of ZON, the platform transforms traditional e-commerce by giving consumers access to the larger network of retailers across UAE and delivering orders via a decentralized fulfillment process and geo-tracking technology, ensuring lower prices, wider product range, and shorter delivery times while also decreasing the frequency of product returns because of pre-purchase stock validation. ZON also empowers the digital transformation of smaller retailers, giving them direct exposure to more customers by providing a plug-and-play mobile platform completely free of charge. “At a time like this – when price consciousness and delivery speed are transforming customer expectations – we must be able to provide a better e-commerce experience to the modern consumer, and more importantly give smaller, offline retailers a chance to keep their businesses going by facilitating their transition to online sales where they have more opportunities to connect with customers,” Saiyad says. “Because of the global health crisis caused by COVID-19, retailers have observed a 40 to 50% downturn in brick-and-mortar sales for the first quarter versus the previous year. More recently, due to mobility restrictions and fear of going to public places, consumers are turning to e-commerce for their daily needs.” Marwan Al Damrawi , a healthtech investor and digital entrepreneur who, along with two individual investors, made it possible for ZON to close its US$8 million seed round, believes ZON will not only e-commerce in  the UAE, but also in the wider MENA region and other emerging markets in Asia and Africa. “UAE is a haven for entrepreneurs, looking to build out tech-based platforms that can then be scaled and exported or aggregated to larger markets. It is one of the best places in the world to incubate a revolutionary idea,” says Al Damrawi, who has over 8 years of successful investment track record and considerable media followership within Middle East and North Africa region. “I see tremendous potential for the decentralized real-time demand supply matching technology of ZON to scale internationally and change the game in other parts of the globe, where retail business ownership is fragmented and where smartphone penetration is on the increase,” says Al Damrawi. With the aim making virtually every product available 24/7, across all locations in the emirates, ZON has already signed up over 32,000 sellers and over 17 million SKUs registered on its platform. The ZON customer app is scheduled for launch in the second quarter of 2020. PR Newswire, a Cision company, is the premier global provider of multimedia platforms and distribution that marketers, corporate communicators, sustainability officers, public affairs and investor relations officers leverage to engage key audiences. Having pioneered the commercial news distribution industry over 60 years ago, PR Newswire today provides end-to- end solutions to produce, optimize and target content -- and then distribute and measure results. Combining the world's largest multi-channel, multi-cultural content distribution and optimization network with comprehensive workflow tools and platforms, PR Newswire powers the stories of organizations around the world. PR Newswire serves tens of thousands of clients from offices in the Americas, Europe, Middle East, Africa and Asia-Pacific regions. Prev Post

ASA Ventures Investments

4 Investments

ASA Ventures has made 4 investments. Their latest investment was in Circular Materials as part of their Seed VC on September 9, 2020.

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ASA Ventures Investments Activity

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Date

Round

Company

Amount

New?

Co-Investors

Sources

9/21/2020

Seed VC

Circular Materials

Yes

2

3/26/2020

Seed VC

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$99M

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10

Other Investors

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$99M

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10

Other Investors

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$99M

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10

Date

9/21/2020

3/26/2020

Round

Seed VC

Seed VC

Other Investors

Other Investors

Company

Circular Materials

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Amount

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

2

10

10

10

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