Babydash, an integrated digital baby store has announced that the company is set to raise further funds via pitchIN, the leading equity crowdfunding (ECF) platform in Malaysia aimed at raising a target amount of USD242,000 (RM1 million).
Babydash is gearing its business strategy and targeting retail investors as the fund now at the pre-live stage. It has outlined aggressive plans aimed to scale up its footprint in ASEAN and double revenues in the next 12 to 18 months.
In the previous first-round funding in 2017, Babydash attracted 131 investors in a fully subscribed campaign raising US$484,000 (RM2 million) that has since seen ECF shareholder’s shares triple in value.
Chief Executive Officer & Founder of Babydash, Lavinie Thiruchelvam said, “Our first Equity Crowdfunding effort saw our revenue has tripled with an average growth rate of 46 percent year-on-year.”
“We are actively building on our new technology including re-platforming our website’s backend and gearing up our data analytics capabilities. Injection of capital from this campaign will enable us to drive Babydash into the next phase, strengthening our lead in Malaysia and growing Singapore as we expand within the region.”
This second ECF round being a bridging round is the last opportunity for smaller retail investors to come in and be part of Babydash as the future rounds will be geared towards fully onboarding institutional investors only.
The small retail investors can be part of the Babydash growing company with only RM1,200/block of investment.
“This journey has enabled us to build a parenting community and allows Babydash to have a deep understanding of our customer needs and propels us to go beyond for them.
“Our previous ECF campaign showed us that our investors are also our ambassadors and we are deeply honored to enjoy this dual privilege,” Lavinie added.
Through direct partnerships with brands and a supply chain ownership that guarantees delivery within 24-48 hours, Babydash has built a healthy monthly customer return rate which has been instrumental in driving revenue for the business, fueling its expansion into Singapore in late 2019.
