Vietnam's D2C fashion brand Coolmate closes series C funding

Coolmate, a Vietnam-based direct-to-consumer fashion brand, has closed its series C funding round led by Vertex Growth Fund, with participation from Cool Japan Fund, YoungOne CVC, Vertex Ventures SEA & India, and Kairous Capital.

The company said the new funding will help it expand internationally, increase offline retail presence, and grow its women’s product line.

The company, founded in 2019, focuses on local supply chain optimization and sells apparel through online channels in Vietnam.

Coolmate recently expanded into women’s activewear and launched sales on Amazon US, where it reported over 25,000 monthly orders for its sports socks.

Coolmate aims to increase international and offline sales contributions to its total revenue by 2030.

Vertex Growth Fund is a venture capital firm under Vertex Holdings, a subsidiary of Temasek, while Cool Japan Fund is a government-backed Japanese investor, and YoungOne CVC is the investment arm of global apparel manufacturer Youngone.

🔗 Source: Coolmate

🧠 Food for thought

Implications, context, and why it matters.

Coolmate’s Series C leaves valuation and scale unclear

No Series C amount or valuation is given, while earlier rounds totaled $10.95 million 1, so readers cannot tell if this is a $20 million or $50 million deal or if the price fits the business.
Coolmate projected $23 million revenue for 2024 and targeted $45 million in 2025 2, yet the article skips 2024 actuals or profit. Operating profit was $141,000 on $14 million revenue in 2023 2, so margins look thin for expansion.
Year-end 2023 cash was $52,000 with $900,000 used for operations 2, so the US$6 million Series B likely extended runway (the time before cash runs out) more than it sped growth 1.

Service providers can serve Vietnam’s rising D2C brands in the US and Europe

Vietnamese listings on Amazon grew over 300% in five years to nearly 18 million items 3. Q2 2025 searches for “Made in Vietnam” rose 172% in footwear, plus 71% in food and beverages 3, which means more sellers are entering Western marketplaces.
Cross-border e-commerce exports reached $3.4 billion in 2023 and could pass $12 billion by 2027 4. Providers that handle warehousing, returns, plus compliance can win share because many firms lack operating capacity and legal know-how 5.
SUKAVINA, a Vietnamese textile supplier, earned $200,000 in seven months on Alibaba.com, a business-to-business marketplace 3. End-to-end fulfillment from Vietnam to North America and Europe can cut the fragmented supply chain that manufacturers face 2.