Above, from left EME's Team: La Woon Yan, Hitoshi Ikea, Hla Win Nwe, Matt Viner, May Phoo Maung Maung, Claire Lim.
On Wednesday, 20th November EME celebrated it’s 1st anniversary and announced two new investments it has made into Myanmar-based and Myanmar-led startups: Natural Farm Fresh and Yangon Broom.
EME invested a six figure amount into Natural Farm Fresh, along with co-investor United Managers Japan Inc. (UMJ). Natural Farm Fresh produces high quality chilli and other dried food products at competitive prices, using locally produced solar dryers to increase yield value and produce products without dangerous aflatoxins. EME’s investment will help Natural Farm Fresh to scale up, develop new products for other markets and start to introduce digital technologies throughout the supply chain.
Founder and CEO of Natural Farm Fresh, Nay Oo said, “This investment is very rewarding, not just because it will help us to grow but because EME really shared our vision to help bring quality products to the Myanmar market, improving health while providing more income to farmers across the country”. EME Director, Hitoshi Ikeya said, “We’re thrilled to make this investment. We’ve been building a great relationship with Ko Nay Oo over the past months, love his vision and have already seen his ability to execute. The chilli market in Myanmar is well over $100m and growing; regionally, the numbers are even higher and together we’re very well placed to take advantage of this huge market potential.”
Above: Nay Oo, Co-Founder and CEO of Natural Farm Fresh
EME, along with co-investor NestTech VN (a Vietnam-based VC), invested a five figure sum into Yangon Broom, a Myanmar home-services startup. Yangon Broom provides on-demand services to home and businesses across Myanmar’s bustling Yangon. Currently, services include cleaning and ironing, but the company has more verticals to roll out in 2020. Founders Kyi Min Han and Kyaw Min Tun come from backgrounds in recruitment and building maintenance, a winning formula for high-growth businesses that contract hundreds of staff. Co-founder and CEO, Kyi Min Han, said, “The whole team is very excited to have two great investors behind us to help take Yangon Broom to the next level. We’ve built our business around people as we aim to provide safer jobs for women in Myanmar, and these two investors will help us protect that while we grow.”.
EME’s investment philosophy includes providing significant hands-on support post-investment, operating a full-time team who work closely with companies to help them scale. Matt Viner, EME Investment Manager said, “We’re so fortunate in Myanmar to have such passionate founders. Kyi Min Han and Kyaw Min Tun pay close attention to their most valuable assets - their staff - and in turn, they’re building a strong business. We’re looking forward to helping Yangon Broom quickly reach 10X growth in total bookings, bring in new tech with help from NestTech VN and add more services.” Nest Tech founder, Soe Moe Oo added, “Nest Tech is delighted to be investing into Broom. The two Founders truly care about making a difference in people’s lives, especially those amongst the more vulnerable in society. Not only are jobs being created, but a caring community culture is being developed too”.
Above: Yangon Broom's Team including CEO Kyi Min Han and COO Kyaw Min Tun