Malaysian interior design marketplace builds pre-series A round up to $1.5m

Photo credit: Homa2U

Homa2u, a Malaysian platform selling new or unused building materials and interior finishes, has secured US$625,000 in pre-series A money from Asia Fund X, an early-stage VC fund backed by MSW Ventures and Pavilion Capital.

This brings up Homa2u’s total pre-series A funding to US$1.5 million. Existing investors in the company include Quest Ventures Asia Fund II, Worldwide Management Solutions, and Qhazanah Sabah Berhad, an investment division of Sabah’s government.

Aiming to reach markets like Japan and Taiwan, Homa2u has begun operations in Singapore from its Johor Bahru office.

A key strategy for the firm’s expansion is the Pro+ ecosystem, a rewards platform that gives users priority deliveries, cash-back incentives, and access to samples, among other services. It includes over 1,000 stakeholders like designers, suppliers, and architects who provide exclusive perks and additional services.

The company maintains its commitment to sustainability in the renovation sector, emphasizing a circular economy. Homa2u said that so far, it has repurposed 20 million ringgit (US$4.2 million) worth of excess inventories in over 8,000 homes since its founding in 2017.

The fresh money will drive Homa2u’s carbon-reducing goals and expansion plans.

Homa2u was founded in 2017 by Pennie Lim. Before this round, the company raised US$566,000 from investors including Kuala Lumpur-based Warisan Quantum Management.

See also: Mapping Khazanah’s role in Malaysia’s tech investments

Currency converted from Malaysian ringgit to US dollar: US$1 = 4.71 ringgit.