Singapore beauty store startup raises $6m in series A funding

OsakaKuma, a Singapore-based beauty and lifestyle retailer, said it has raised US$6 million in a series A funding round, bringing the total investment in the tech-driven startup to US$8 million so far.

The startup, which raised US$2 million in its initial funding round last year, curates over 1,000 Japanese beauty and lifestyle products. It also claims to be the first to tap data and analytics to come up with its offerings, using data gathered from 100,000 surveyed customers at its online and offline shops.

Photo credit: OsakaKuma

While many businesses are looking to build a stronger online presence, OsakaKuma is working to expand the reach of its brick-and-mortar stores.

“While we see the trend has grown for ecommerce, we believe that many would still prefer to enjoy the physical shopping experience, having our in-store beauty curators to guide and help them,” said OsakaKuma CEO and co-founder Tony Wang.

Since its first store launched in September 2020, the retailer has opened three additional outlets in Singapore and is slated to set up three more in the city-state by the end of July. OsakaKuma also has plans of rolling out geo-targeted product offerings across the city.

Aside from Singapore, OsakaKuma has physical shops in Japan and Hong Kong and 15 online stores worldwide.