64 investors participated in the equity fundraising campaign on pitchIN
Malaysia-based baby products marketplace Babydash has raised RM 590,400 (US$133,400) through Malaysian equity crowdfunding platform pitchIN. 64 investors joined campaign — the highest participation any company has experienced on pitchIN so far.
Babydash’s campaign has eight days left on the calendar, and is still far from its goal of RM2 million (US$451,800). It is offering a total of 20 per cent of equity to its investors.
Launched in 2011 by co-founders Lavinie Thiruchelvam and Tay Shan Li, Babydash aims to address the dearth of essential baby products online. According to a Malay Mail Online report, Babydash claims its diapers and infant formula sold are cheaper than those found in large retail chains.
Despite being in its fifth year of existence, the startup has remained fairly quiet, under the radar. No information on revenue figures or prior fundraising rounds (if any) were available.
Like Singapore, equity crowdfunding in Malaysia has been slowly picking up over the months. In 2015, the Securities Commission Malaysia (SC) approved the application of six equity crowdfunding platforms, one of which was pitchIN.
And last year, three companies successfully received full funding on pitchIN.
Image Credit: Babydash
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