THE HOMA2U team
Malaysia-based marketplace platform for renovation and interior design materials HOMA2U today announced that it has secured MYR3.87 million (US$875,000) in Pre-Series A funding.
The investment round was led by Quest Ventures Asia Fund II and included both Worldwide Management Solution and Qhazanah Sabah Berhad.
This is Quest Ventures Asia Fund II’s second cheque for HOMA2U.
According to a statement released by the company, the fund will fuel HOMA2U’s regional expansion plans, accelerate product development and promote a circular economy within the renovation and interior design industry.
HOMA2U will also channel the funds to help more people amplify their commitment to Environmental, Social and Governance (ESG) sustainability as well as help them meet their ESG goals through their Yellow Boxes and online platform.
HOMA2U is working towards growing the business threefold and will be concentrating its efforts on opening a total of 18 Yellow Boxes throughout Malaysia and Singapore.
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Touted as Malaysia’s first unmanned interior product showrooms, the Yellow Boxes are mobile pop-up outlets that offer offline-to-online purchase services for visitors. HOMA2U is looking to establish the first Yellow Box in Singapore as early as Q32023.
Pennie Lim, the Founder and Chief Executive Officer of HOMA2U, shared that the fresh funding is a positive sign of health for HOMA2U – considering the wider context of economic pessimism that the property market is currently experiencing.
“We know that customers want renovation solutions that are seamless and engaging, with everything available under one roof. The funding will enable us to deliver on our plans to make high-quality, affordable and sustainable home interiors with renovation products easily accessible to all, essentially contributing to a total solution and wholesome experience for them,” Lim said.
“At HOMA2U, we do not just stop there. We also help our customers meet their ESG sustainable goals and practices from a design and aesthetic point as well as from the impact of the renovation materials on our environment.”
Earlier in 2021, HOMA2U secured a series of funding amounting to MYR2.4 million (US$567,000) from Warisan Quantum Management as well as ScaleUp Malaysia with investment partner Quest Ventures where HOMA2U emerged as one of the top 10 startups in the ScaleUp Malaysia’s Accelerator programme Cohort 2.
HOMA2U now has 20 team members working on business development, customer service and marketing.
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Image Credit: HOMA2U
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