Ex-Foodpanda CEO’s startup lands $30m in series B money

Una Brands, a Singapore-headquartered ecommerce roll-up firm, has locked in US$30 million in a series B funding round led by White Star Capital and Alpha JWC Ventures.

Una Brands co-founders (from left) Tobias Heusch, Kushal Patel, Adrian Johnston, Srinivasan Shridharan, and Kiren Tanna

Una acquires, operates, and boosts brands on multiple ecommerce platforms. Founded in early 2021 by ex-Foodpanda CEO Kiren Tanna, along with Tobias Heusch, Kushal Patel, Adrian Johnston, and Srinivasan Shridharan, it has over 20 brands in its portfolio to date, including ergonomic furniture brands ErgoTune and EverDesk+.

Una will use the fresh funding to acquire more brands in key ecommerce categories such as home and living, mother and babycare, and beauty and personal care. Part of the funds will also go toward further developing the firm’s in-house infrastructure and strengthening its position in key markets like Southeast Asia, Australia, New Zealand, and China.

“The ecommerce landscape, particularly in Southeast Asia, with access to more than 600 million population, has tremendous secular tailwinds,” said Una Brands co-founder Tanna.

With the latest funding round, the firm, which also operates in the US, has raised almost US$100 million to date and is looking to become profitable by the end of this year.

Earlier this year, the firm invested US$100 million into the South Korean market via a partnership with local counterpart KlickBrands. Una Brands identified South Korea as a key market because the local ecommerce industry is expected to hit a market value of US$250 billion by 2025.

See also: How Bukalapak is betting on rolling up brands in pursuit of profits