Singapore-based consumer goods brand Cloversoft announced that it raised a seven-figure sum in a seed funding round led by Apricot Capital, a multi-asset private investment company.
The startup, which provides eco-friendly consumer goods, said the fresh funding will be used to accelerate the brand’s growth by expanding into international markets.
It also plans to invest in research and development to boost its range of plant-based household products.
Cloversoft was founded in 2014 and self-funded by former investment banking female duo Angela Sim and Lynn Yeo. It manufactures eco-friendly, high-quality household necessities, notably Singapore’s first unbleached bamboo tissue.
In an announcement, Cloversoft said it has seen consistent growth since its inception, with a three-fold growth year-on-year in sales on average and a growing customer base in the Asia-Pacific region, including Malaysia, Brunei, Cambodia, Myanmar and Taiwan.
Foxmont seeds Filipino D2C cosmetics brand Niv Della
Niv Della, a direct-to-consumer homegrown cosmetics company in the Philippines, announced that it has raised seed funding from Foxmont Capital Partners, an early-stage venture capital firm in the country.
The startup commits to bringing affordable beauty and skincare products to Filipinos through its Colourette and Fresh Formula brands.
Niv Della founder and CEO Nina Cabrera said the Philippines’ young and tech-savvy population creates a vast opportunity for homegrown beauty brands like Colourette to reach new heights and gain market share.
SOUTHEAST ASIA DEAL MONITOR
DealStreetAsia has put together a table listing prominent venture capital transactions in Southeast Asia for the week starting August 1, 2022.
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