fbpx

SG green cleaning products brand bags $435k in pre-seed money

SimplyGood, an eco-friendly home cleaning brand based in Singapore, has secured S$600,000 (US$435,000) in a pre-seed funding round led by Damson Capital, with participation from several angel investors such as Kuok Meng Xiong, founder and managing director of K3 Ventures.

Founded last year by Jeremy Lee, SimplyGood produces sustainable home cleaning and personal care products. Its main offering is a range of cleaning tablets that can dissolve in water to form detergent solutions. The company said these tablets are made entirely from plant-based materials and are 300 times lighter than traditional liquid cleaners.

SimplyGood added that it has sold more than 25,000 products to over 4,500 customers in its first year of operation. The company also pointed out that since the packaging for its products is compostable, it has helped prevent over 25,000 single-use plastic bottles from ending up in landfills.

The startup will use the fresh capital to grow its direct-to-consumer business across Singapore, Malaysia, Australia, and New Zealand. It also plans to launch new products in the personal care category, including hand soap tablets.

According to Research and Markets data, the global market for green cleaning products is projected to reach US$27.8 billion by the end of 2024, growing at a compound annual growth rate of 6.5% from 2017 to 2024.

SG green cleaning products brand bags $435k in pre-seed money. Congratulations to the entire team. I wish you great success in this endeavour.

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

Check out our YouTube channel for insightful content from the Indian startup ecosystem.

Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business. For any rectifications, reach out to ashu@startuplanes.com

Tags

top