Singapore-headquartered plant-based ice cream brand Kind Kones has raised S$1 million (S$754,000) in a seed round led by DSG Consumer Partners, an early-stage venture capital firm that invests in consumer-product space in Southeast Asia and India.
In a statement, Kind Kones, founded in 2017 by Ishpal Bajaj and Serina Singhsachathet in Malaysia, said the funding round was also participated by Sabre Ventures and other investors.
Bajaj said the fresh funding will be used towards building Kind Kones’s global brand and developing new distribution channels. Kind Kones currently operates six outlets and two e-commerce channels.
Its ice creams are all-natural vegan and free from dairy, egg, refined sugar, and other artificial additives with mostly gluten-free options.
The global vegan ice cream market was valued at more than $500 million in 2019 and is expected to grow at a CAGR of 13.7 per cent to reach $805.3 million in 2017, according to data released by Allied Market Research.
SOUTHEAST ASIA DEAL MONITOR
DealStreetAsia has also put together a table listing out prominent venture capital transactions in Southeast Asia in the week beginning Jan 11.
Startup | Headquarter | Investment Size (US) | Investment Stage | Lead Investor(s) | Other Investor(s) | Industry | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Bento | Singapore | $720,000 | GrabInvest Asia | Financial | |||||||||||||||||||||
MyKuya Technologies | Philippines | $975,000 | Faithace International Limited | Human Resources | |||||||||||||||||||||
Qualee Technology | Singapore | $1 million | Tandem Technology Partners | Human Resources | |||||||||||||||||||||
H3 Dynamics Holdings | Singapore | $3.2 million | Grosvenor Asia | Artificial Intelligence | |||||||||||||||||||||
Multiplier | Singapore | $2.4 million | Surge Ventures, K9 Industries | Human Resources | |||||||||||||||||||||
Lionsbot | Singapore | $3.8 million | REIWAG, Bejac Investment Ltd, Fairsky Worldwide, Black Kite Investments | Robotics | |||||||||||||||||||||
Kind Kones | Singapore | $754,000 | Seed | DSG Consumer Partners | Sabre Ventures | Food | |||||||||||||||||||
MoMo | Vietnam | Series D | Goodwater Capital, Warburg Pincus | Affirma Capital, Kora Management, Macquarie Capital, Tybourne Capital Management | Financial | ||||||||||||||||||||
Advantir | Singapore | - | Seed | Raging Bull Investments | she1K Global, Expara Asia Ventures, Azerus | Food | |||||||||||||||||||
Titik Pintar | Indonesia | - | Pre-Seed | IWEF | Education | ||||||||||||||||||||
BukuKas | Indonesia | $10 million | Series A | Sequoia Capital India | Software | ||||||||||||||||||||
Microleap | Malaysia | $3.3 million | MAA Group | Financial | |||||||||||||||||||||
Yeast Master | Thailand | - | Seed | UMG Idealab | Food | ||||||||||||||||||||
Zipmex | Singapore | $6 million | Series A | Jump Capital | Financial | ||||||||||||||||||||
Sampingan | Indonesia | $1.5 million | Pre-Series A | Golden Gate Ventures | Antler | Human Resources | |||||||||||||||||||
MicroSec | Singapore | - | Series A | MassMutual Ventures | Wavemaker Partners, SEEDS Capital | Cybersecurity | |||||||||||||||||||
Crown Technologies | Singapore | - | - | JR East Business Development SEA | Robotics | ||||||||||||||||||||
Snaphunt | Singapore | $1 million | - | BEENEXT | Human Resources | ||||||||||||||||||||
Finlync | Singapore | $16 million | - | Point72 Ventures, NYCA Partners, Vine Ventures | Financial | ||||||||||||||||||||
Nimbly Technologies | Indonesia | $5.7 million | - | Insignia Ventures Partners, Sovereign's Capital, Saison Capital | IT | ||||||||||||||||||||
Hangry | Indonesia | $1.5 million | Alpha JWC Ventures, Surge Ventures | Food | |||||||||||||||||||||
Syfe | Singapore | $3.8 million | Valar Ventures, Unbound | Financial | |||||||||||||||||||||
Buffalo Technology (Epsilo) | Singapore | $1 Million | Vulcan Capital | Software | |||||||||||||||||||||
Big Pool | Singaore | $500,000 | - | - | Insurance | ||||||||||||||||||||
Ajaib | Indonesia | $25 million | Series A | Horizon Ventures, Alpha JWC | Financial | ||||||||||||||||||||
Alami | Indonesia | $10 million | Series A | AC Ventures, Golden Gate | Financial | ||||||||||||||||||||
Pintek | Indonesia | $21 million | Debt Facility | Accial Capital | Financial |