Coolmate, Vietnam’s leading online direct-to-consumer (D2C) fashion brand, has completed its Series C funding round led by Vertex Growth Fund, the growth investment vehicle under Vertex Holdings (a subsidiary of global investment group Temasek).
The financial details are not known.
The round also saw strategic participation from Japanese government-backed Cool Japan Fund and YoungOne CVC, the corporate venture capital arm of the Youngone Group, a leading global manufacturer of sports apparel and outdoor gear. Existing investors, including Vertex Ventures SEA & India and Kairous Capital, also participated.
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Launched in 2019, Coolmate offers a range of apparel and accessories for men and women, focusing heavily on sportswear, including items for running, swimming, cycling, yoga & pilates, and pickleball. It has focused on building an internal supply chain and applying technology to offer “high-quality”, accessible products. The company claims to have delivered over 5 million orders in more than six years.
The capital raised in the Series C round will fuel three strategic acceleration pillars between 2026 and 2030:
Expansion into the female customer segment: Coolmate launched its female sportswear line in March 2025, betting on this segment, which is projected to be one of Vietnam’s fastest-growing markets. The goal is for the female sportswear line to drive growth, expanding the brand from a “men’s brand” to a “sports brand for all,” with 40 per cent of total revenue expected to come from this segment by 2030.
Moving into physical distribution channels: Coolmate plans to open its first physical store by late December 2025. These stores are intended to be destinations where customers can experience the “value of Vietnamese quality” through superior functionality and meticulous detail. Offline retail is targeted to contribute 40 per cent of total revenue by 2030.
International expansion, with a specific focus on Southeast Asian countries. This strategy aims for international revenue to constitute 50 per cent of total sales by 2030. Coolmate has already established a strong foundation globally; in 2025, its athletic socks achieved “Best Seller” status on Amazon (US) within months, recording over 25,000 orders per month.
Commenting on the funding, Pham Chi Nhu, CEO and founder of Coolmate, stated: “Coolmate was founded with the simple belief that Vietnam can absolutely create global standard products, designed and produced with national pride. This investment helps us realise that belief, expand into new markets and continue to build a brand that represents the innovative spirit of Vietnam.”
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James Lee, CEO of Vertex Growth Fund, emphasised the company’s potential for scale: “Coolmate is a prime example of Vietnam’s new generation of consumer brands — built on a digital foundation, possessing a vertically integrated model and aspiring to global reach. Their disciplined operational mindset and product innovation capability have laid a solid foundation for scaled growth. We are proud to partner with Coolmate in realising their vision of becoming a leading performance lifestyle brand, from Vietnam to the world.”
Coolmate had in 2022 raised US$2.3 million in its Series A round from GSR Ventures and Do Ventures.
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