Singapore, 29 September 2022 – E-commerce aggregator startup Una Brands announced today it has closed a capital raise of US$30M in the first close of a Series B funding round led by White Star Capital and Alpha JWC Ventures.
Una Brands is APAC’s leading multi-channel e-commerce aggregator founded with a mission to shape the future of e-commerce for consumers by acquiring and growing well-loved and enduring brands. Headquartered in Singapore, the company has a geographical focus across Southeast Asia, Australia/New Zealand, China, and the United States. Today, the company is tech-driven, digital-first, multi-channel and sustainability-focused, values which it believes all consumer companies will strive to adopt in the future.
Una Brands was recently featured on the Forbes Asia 100 To Watch 2022 list which showcases the top 100 startups in the region that are addressing real-world challenges with innovative products and services. Since beginning operations in early 2021, Una Brands has acquired and operates over 20 e-commerce brands across six countries. Una Brands has also built its technological, operational, and growth platform to acquire, operate and scale brands across e-commerce channels such as Amazon, Shopify, Shopee, Lazada, and Tokopedia. The company has built its proprietary technology infrastructure and on-the-ground presence in strategic locations in order to enable this cross-channel platform. Sustainability also continues to be a key focus as the company recognizes the impact consumer companies have on the environment.
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In 2021, Una Brands made one of their marquee acquisitions when they acquired ErgoTune and EverDesk+, which have been consistently voted two of the top ergonomic furniture brands in Southeast Asia. Since the acquisition, Una Brands has successfully expanded these homegrown brands into Australia and grown revenues by over 40% in less than a year. Overall, Una Brands currently has an annualized revenue of over US$50M and is expected to achieve group profitability by the end of 2022.
The fresh funding proceeds will be used to double down and fund acquisitions of high-quality e-commerce brands across key categories such as Home & Living, Mother & Baby, and Beauty & Personal Care. Additionally, Una Brands will continue to invest in the development of its in-house proprietary technology infrastructure that allows the company to build a more efficient multi-channel sales and business management platform.
“The recent funding bears testament to the continued belief and supports our investors have in our business, the management team, and the organization as a whole,” said Una Brands CEO Kiren Tanna. “We are on an incredible growth trajectory with #1 market position in APAC. The e-commerce landscape, particularly in Southeast Asia, with access to more than 600 million population, has tremendous secular tailwinds. The funding has further strengthened our balance sheet and cash position as we look to continue to acquire great brands and invest in our technological advantage moving forward.”
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“Una Brands has built out a multi-platform capability that no other aggregator has – catering not only to sellers on Amazon but also Shopify and on local platforms such as Lazada, Tokopedia, and Shopee. With their unique positioning, combined with the strength of their team and their continued focus on world-class tech and processes, they are emerging not just as the leader in APAC but as global champions,” comments Nick Stocks, General Partner, White Star Capital. “We’re excited to double down in our partnership with Kiren and the team as they continue to execute towards their vision of creating the next generation tech-driven CPG champion.”
“Una Brands has developed a playbook to acquire, boost, and integrate businesses across channels in multiple markets. This playbook has proven to work and accelerated Una Brands’ performance this past year. As the company builds a winning portfolio in the region, we are confident that Una Brands is on track to become APAC’s next e-commerce powerhouse. We are excited to continue our partnership with Kiren and the Una Brands team through this funding and our value-add support,” says Jefrey Joe, Co-Founder & General Partner, Alpha JWC Ventures.
