Baby-care brand Applecrumby raises US$4.2 million funding from 500 Global
Benjamin Cher
MALAYSIA-BASED Applecrumby has raised a US$4.2 million round of funding from venture capital firm 500 Global.
Applecrumby’s products range from chlorine-free nappies to wipes to skincare and cleaning products.
The baby-care brand said it will use the funding to expand its reach and distribution channels. Its products are currently available in 11 countries, including Singapore, Thailand, South Korea and China; it aims to expand to 20 countries by the end of 2024 via regional distributors.
Applecrumby founder Sean Tan said the funding raised will help the company enter new markets, such as Indonesia and the United Arab Emirates. “We also plan to increase our presence in both China and Vietnam,” he added.
The funding will also be used to develop new products under Applecrumby’s mass-market product line, PureBasics. Since its launch at the end of 2023, over 250,000 packs of the line’s current sole product – nappies – have been sold.
Tan said the company will create “a complete skincare, cleaning and wet-wipes range” for PureBasics.
According to financial filings on data platform Alternatives.pe, Applecrumby’s revenue rose to RM48.7 million (S$13.9 million) in 2022, from RM40.2 million in 2021. It also turned a profit of RM3.5 million in 2022, reversing from a loss of RM164,977 the previous year.
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