VIC Partners invested an undisclosed amount
Coolmate.me received capital from Hung Dinh’s VIC Partners Fund. Funding value was not disclosed. In just four months after Shark Tank, this startup has successfully raised capital from three investors. “VIC Partners chose Coolmate.me because of its ambitious and experienced founding team. We believe in the large capacity and growth potential of this startup in the Vietnamese fashion industry,” said the Fund’s Chairman.
Coolmate.me takes a modern approach to retail. This startup is user-centric to build a business. Production, advertising, sales, transportation, and customer care were built by the founding team. Good product goal, affordable price, easy, fast, peace of mind buying experience. “We want to support Coolmate.me to become a pioneering basic fashion brand in Vietnam in the next five years,” said Hung.
Coolmate.me was founded in February 2019 and has sold over 200,000 orders. Coolmate.me offers “Made in Vietnam” apparel. Products are distributed directly to customers via social networks and e-commerce. Coolmate’s reasonable price and service make 100% of customers satisfied. This startup is expected to reach 139 billion VND in revenue in 2021. This startup’s sales in 2020 are 39 billion VND, up six times thanks to basic products such as men’s t-shirts, underwear, and socks through an e-commerce platform. The Top 10 startup of Startup Wheel 2020 plans to expand to Southeast Asian countries and IPO in 2025. This startup also revealed a profit of about 5-6 billion VND. Coolmate.me’s pre-money valuation is $6.25 million (nearly 150 billion VND).
Coolmate.me is more known after raising capital on Shark Tank Vietnam. This startup was committed by Shark Nguyen Hoa Binh, Chairman of the Board of Directors of NextTech, to pour $500,000 in capital. In early 2020, this startup received an investment from 500 Startups. In May 2021, Coolmate.me completed a Pre-A round of funding from STIC Ventures, valued at $5 million. STIC is the third largest investment fund in Korea, invested in Tiki Vietnam from the beginning. Coolmate.me will accelerate its sales target for 2021 and beyond. During the complicated epidemic situation, VIC Partners and investment funds will support this startup to ensure rapid growth.
Sources of information include Doanhnghiep and Tiepthi.