Signature Market has recently achieved its goal of seed funding raising worth US$350k via PitchIN crowd funding platform within a short period of 2 weeks. The Malaysian-based startup has acquired 161 investors, the largest number of investors throughout the Malaysian equity crowd funding history.
Launched less than two years ago, the natural and organic online grocery has been growing fast and is on track for over US$2 million in annual revenue. Signature Market cuts out the retail channels and sells directly to consumers, which is why the company is able to offer items that are at a lower price point than retail stores. Signature Market members get 20%-50% off standard retail prices.
With its success of its fundraising, the startup focuses on expanding its production facility and commercial ventures in new markets such as Singapore. As result, more new products and improvements in systems will be introduced to enhance consumers shopping experience with Signature Market.
Within the past year, many global brands are jumping on similar platform as Signature Market, direct-to-consumer bandwagon, to compete with monopolistic brands in huge markets due to the advancements in e-commerce and social media platforms. Brands can now directly communicate with their consumer and gather important data that helps the brand make strategic business decisions.
Recent investments in direct-to-consumer start-ups by consumer packaged goods giants such as Campbell Soup and Unilever are the evidence of a new wave. Earlier this year, Campbell invested US$32m in Habit, direct-to-consumer personalised food and nutrition start-up.
In addition, Unilever has acquired Dollar Shave Club, direct-to-consumer men’s razor start-up, at US$1 billion. The background of these investments stem from the traditional players’ struggle with the direct-to-consumer brand-building at which direct-to-consumer upstarts excel.
For more information about the products offered by Signature Market, visit www.signaturemarket.co.