Singapore-based direct-to-consumer company Evo Commerce has secured US $2 million from investors including GSR Ventures, East Ventures, and 33 Capital in its pre-series A round.
JJ Chai, the CEO of Rainforest, Hiro Kiga, the co-founder of Wallex, and Emile Etienne, the co-founder of BrideStory all contributed to the funding.
Evo Commerce, formerly known as Evolut Holdings, is an online store that offers goods for wellness, beauty, and health. BounceBack, an anti-hangover treatment that has been introduced in 10 markets worldwide, is the company’s main product.
Evo Commerce’s income increased 12 times in 2022. The company currently has 20,000+ clients.
The firm will utilize the additional cash to support its objectives for worldwide development, build out its online and e-commerce channels, and expand its production and R&D capacities in order to introduce new product categories.
“We hope to continue to grow 10 times over in 2023 while maintaining our profitability with expectations to launch multiple products in the coming year,” said Evo Commerce CEO Roy Ang.
A seed round sponsored by East Ventures saw the company raise US $600,000 in October 2022.
