Una Brands, an e-commerce aggregator located in Singapore, plans to invest up to US$100 million in South Korean e-commerce startups over the next two years.
Una Brands partnered with South Korean peer KlickBrands to identify investment opportunities in K-beauty brands, health, baby, pets, and home and living startups.
Key Highlights
- KlickBrands was founded by Hyun and JungHo Joo in 2021, both having prior financial and investment experience.
- Una Brands and KlickBrands are looking to collaborate with and scale at least 25 profitable e-commerce startups with revenues of up to US$50 million.
- The aim of investing in the startups is to grow the brands domestically and penetrate Southeast Asian markets such as Indonesia, Malaysia and Thailand.
- Una Brands has raised US$55 million from major venture capital companies and acquired more than 20 brands since its inception in early 2021.
- Una Brands now has over 160 team members in nine offices across the Asia Pacific including Singapore, Australia, India, Malaysia, Taiwan, Korea, and Japan.
"Of all the local e-commerce aggregators, we chose KlickBrands as our strategic partner because of our shared vision, mission, and value," said Kiren Tanna, co-founder and CEO of Una Brands.
KlickBrands will play a key role in enhancing Una Brands' presence in the South Korean e-commerce market as a result of this collaboration.
It is also reported that Una Brands plans to invest US$23 million in Malaysian e-commerce firms in 2022.
