Applecrumby raises US$4.2 mln funding

KUALA LUMPUR: Malaysiabased Applecrumby, which is a babycare brand, has raised US$4.2 million (US$1=RM4.7270) growth investment from multi-stage venture capital firm 500 Global.

The company said in a statement here yesterday that the investment would accelerate the company’s growth through its high quality, safe and affordable babycare products.

It added that the new funding would allow Applecrumby to grow its footprint globally, expand its distribution channels and develop new products under the PureBasics range to meet the evolving needs of modern parents.

“We believe that parents should have access to affordable, toxin-free babycare products, regardless of where they are based.

Applecrumby has been bringing moms and dads peace of mind since 2012, and the new capital boost will allow us to broaden our impact, ensuring more families can give their child a healthier and happier start in life,” the company’s co-founder and chief executive officer Sean Tan said in the statement.

Applecrumby products are currently available in 11 countries today.

It plans to expand into 20 countries by the end of this year through regional distributors.

In Malaysia, the brand would be available in close to 2,000 retail locations this year to provide parents greater convenience.