fbpx
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Investors’ interviews
    • Founders’ interviews
  • Governments
  • Lists
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • REGISTER
  • login
No Result
View All Result
No Result
View All Result
Home E-commerce

Vietnamese e-commerce retailer Coolmate receives $2.3m in Series A funding

Team AsiaTechDaily by Team AsiaTechDaily
05 September 2022
in E-commerce, Featured
0
Coolmate

Coolmate CEO Nhu Pham

1
SHARES
Share on FacebookShare on Twitter
Bookmark (0)

Please login to bookmark

No account yet? Register

Coolmate, a Vietnamese menswear brand that sells through its own e-commerce store, has raised an additional $2.3 million for its Series A funding round participated by GSR Ventures and Do Ventures, according to an announcement.

Coolmate is the first Vietnamese startup to receive funding from GSR Ventures, a world-renowned early backer of unicorns including Advance Intelligence Group, Nium, Ele.me, and Xiaohongshu.

The additional funding was raised in a mix of primary and secondary deals, following the company’s $2-million Series A round, led by Access Ventures with the participation of Do Ventures, CyberAgent Capital, and DSG Consumer Partners in May 2022.

Founded in early 2019, Coolmate employs the D2C e-commerce model (providing products directly through online channels) to cut the distribution costs in traditional retail.

Its products are 100% high-quality Vietnamese-made clothing and accessories. This business model allows Coolmate to constantly connect with customers and listen to their needs to offer a seamless shopping experience.

The company has tripled its revenue over the past year and is on track to hit the $19 million revenue milestone in 2022. It aspires to set an example of a sustainable business that can bring real value to customers, employees, partners, and shareholders.

“We value GSR Ventures as a reputable investment firm with decades of experience in helping early startups to grow into unicorns. We were thrilled to extend our Series A for the opportunity to work with GSR Ventures to take Coolmate to the next stage of growth,” said Coolmate CEO Nhu Pham.

With the support from GSR Ventures and Do Ventures, Coolmate said it will accelerate the completion of the supply chain for its apparel product line, starting with new material sourcing and production technology, as well as setting up partnerships with larger and more diversified fabric, garment, and accessories suppliers.

As Vietnam’s e-commerce is expanding quickly and the country’s robust textile and garment industries are transforming through more consolidated value chains, Coolmate said it will utilize the new capital to achieve its 2022 sales target and plan for an IPO in 2025.

Previous Post

Docquity, SE Asia’s social network for doctors, banks $44m in Series C financing

Next Post

VC fund MSA Novo invests $15m in 6 Indian startups

Related Posts

edit post
Corobot, a disinfecting robot developed by Hills Robotics(Image: Hills Robotics Homepage)
Featured

Korea’s Pangyo Techno Valley: A Pioneering Hub in the Global Robot Industry

September 20, 2023
edit post
Choi Hyun-seok, CEO of F&S Holdings
AR & VR

Fassker CEO on Revolutionizing Fashion through Digital Innovation & Metaverse Technology

September 19, 2023
edit post
Panoramic view of Huons headquarters (Source: Huons YouTube)
Featured

Pangyo Techno Valley, a Cluster of the Korean Beauty Industry, Strengthens Its Global Competitiveness

September 15, 2023
edit post
(Photo = beSUCCESS)
Events

“Born2Global Center”, a Business Support Organization for Global Expansion of Startups, Is Transformed into the “Global Digital Innovation Network Foundation.”

September 14, 2023
edit post
CEO YiKyung Son of Galloping (Image= beSUCCESS)
Featured

The Vision of CEO YiKyung Son of Galloping: Harnessing Data to Foster the Next Son Heung-min and Build the World’s Premier Soccer Team

September 11, 2023
edit post
Oh Seung-taek, CEO of AIMMO (Photo=beSUCCESS)
AI & Big Data

AIMMO Raises 14.4 Billion Won in Pre-IPO Investment, Bolstering Its Global AI Data Solutions Presence

September 9, 2023
Next Post
edit post
VOX

VC fund MSA Novo invests $15m in 6 Indian startups

Discussion about this post

No Result
View All Result

Popular Posts

  • The Top 5 Dating Apps In Asia – 2023

    63 shares
    Share 25 Tweet 16
  • Japanese EV Startup Terra Motors Raises $28 M in Series C Funding for Infrastructure Expansion

    33 shares
    Share 13 Tweet 8
  • How Rohan Gupta Co-Founder And CEO Of QuillBot Raised $4.25M To Make Writing Painless?

    15 shares
    Share 6 Tweet 4
  • Inshorts CEO Azhar Iqubal: The entrepreneur who got news curated for the Millenials & Gen Z 

    13 shares
    Share 5 Tweet 3
  • How Roland Ros, Founder Of Kumu Raised $6M To Build The #1 Grossing Social App In the Philippines?

    13 shares
    Share 5 Tweet 3
  • Kimberly Yao, CEO And Co-Founder Of CloudEats- A Pioneer Cloud Restaurant Company In SouthEast Asia

    12 shares
    Share 5 Tweet 3
  • Indian FinTech startup Jar raises US$32 million in Series A

    9 shares
    Share 4 Tweet 2
  • Top 5 Cross-Border Acquisitions To Eye for in 2023

    9 shares
    Share 4 Tweet 2
  • Park Jaebum, CEO of Sam Corporation: Pioneering ‘Korean Education Technology’ from Finland to Indonesia

    9 shares
    Share 4 Tweet 2
  • Atome Financial and HSBC Singapore Collaborate Again to Expand in the Philippine Market

    9 shares
    Share 4 Tweet 2




  •  Australia
  •  Austria
  •  Bangladesh
  •  Bhutan
  •  Brunei
  •  Bulgaria
  •  Cambodia
  •  Canada
  •  China
  •  Dubai
  •  Europe
  •  Finland
  •  France
  •  Germany
  •  Greater China
  •  Hong Kong
  •  India
  •  Indonesia
  •  Ireland
  •  Israel
  •  Japan
  •  Laos
  •  Lithuania
  •  Malaysia
  •  Mexico
  •  Mongolia
  •  Myanmar
  •  Nepal
  •  Netherlands
  •  New Zealand
  •  Norway
  •  Pakistan
  •  Philippines
  •  Poland
  •  Puerto Rico
  •  Qatar
  •  Russia
  •  Signapore
  •  Singapore
  •  South Korea
  •  Sweden
  •  Switzerland
  •  Taiwan
  •  Thailand
  •  Turkey
  •  Ukraine
  •  United
  •  United Kingdom
  •  United States
  •  Uzbekistan
  •  Vietnam

Topics

  • AI & Big Data
  • AR & VR
  • Blockchain
  • Clean Technology
  • Content & Games
  • Cybersecurity
  • Enterprise & SaaS
  • Gadgets & Electronics
  • Health & Bio

  • Ecosystem
  • EdTech
  • Featured
  • FinTech
  • Investments
  • IoT
  • Marketplaces & E-commerce
  • Robotics
  • Transportation & Logistics

FREE NEWSLETTER

Follow Us

Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Ecosystem
    • Marketplaces & E-commerce
    • Robotics
    • Investments
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Investors’ interviews
    • Founders’ interviews
  • Governments
  • Lists
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • Forums
  • Jobs
  • REGISTER
  • Login

Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

We hope you enjoy our content, May you please give us Feedback regarding our website!

Single Post Feedback