SG green cleaning products brand bags $362k in pre-seed money

SimplyGood, an eco-friendly home cleaning brand based in Singapore, has secured S$500,000 (US$362,000) in a pre-seed funding round led by Damson Capital, with participation from several angel investors such as Kuok Meng Xiong, founder and managing director of K3 Ventures.

SimplyGood team / Photo credit: SimplyGood

Founded last year by Jeremy Lee, SimplyGood produces sustainable home cleaning and personal care products. Its main offering is a range of cleaning tablets that can dissolve in water to form detergent solutions. The company said these tablets are made entirely from plant-based materials and are 300 times lighter than traditional liquid cleaners.

SimplyGood added that it has sold more than 25,000 products to over 4,500 customers in its first year of operation. The company also pointed out that since the packaging for its products is compostable, it has helped prevent over 25,000 single-use plastic bottles from ending up in landfills.

The startup will use the fresh capital to grow its direct-to-consumer business across Singapore, Malaysia, Australia, and New Zealand. It also plans to launch new products in the personal care category, including hand soap tablets.

According to Research and Markets data, the global market for green cleaning products is projected to reach US$27.8 billion by the end of 2024, growing at a compound annual growth rate of 6.5% from 2017 to 2024.

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Currency converted from Singapore dollar to US dollar: US$1 = S$1.38

Correction (Aug.17, 2022, 1:57 pm SGT): This article earlier incorrectly stated that the company raised S$600,000. The headline and article have been updated.