Singapore-based social commerce platform abillion that helps people and businesses around the world to be more sustainable has raised US$10 million funding in a Series A round led by 1/0 Capital, a New-York headquartered growth stage-focused venture fund.
The funding round also saw participation from Tokyo-based SDG Impact Japan’s Chairman, Mamoru Taniya and co-CEO Bradley Busetto.
The former Director of the United Nations Development Programme Global Centre on Tech, Innovation and Sustainability Bradley Busetto explains, “A social media platform dedicated to the planet makes a lot of sense to us. Helping people make smarter decisions around what they eat and wear and connecting those choices back to measurable impact for society, animals and the planet.”
Ziggy Jonsson, Senior Partner 1/0 Capital, said, “We’re delighted to support abillion, a platform that can inspire users, provide daily utility, drive purchases, and promote advocacy while creating real impact for the planet.”
Co-Founder and Executive Chairman of Next Gen Foods and creator of plant-based Chicken brand TiNDLE, Timo Recker is an early investor. Another early investor is Blue Horizon, a Zurich-based venture fund founded by Roger Lienhard who has invested in many firms including Beyond Meat, JUST, Impossible Foods, Geltor, and Wild Earth.
The fresh funding will be used by abillion to build a peer-to-peer (P2P) marketplace within its app and expand its product development, design and engineering capabilities. The company intends to use ecommerce and social media for social impact and sustainability.
“We have a long road ahead in achieving our target of one billion people committed to plant-based living and a more sustainable planet. Completing our Series A is a significant milestone and we’re excited to make a far greater impact for our planet in 2022 and beyond,” says Vikas Garg, founder abillion.
Founded in 2017 by Vikas Garg, abillion was launched to repurpose social media and ecommerce for sustainability and social impact. Since its launch in 2018, the abillion app has been downloaded by over one million people. The members of the abillion app have published over one million reviews of beauty products, fashion, and sustainable food from 60,000 plus consumer products brands across 161 countries. The company has donated over US$1 million to impactful charities around the globe.