Singapore VC REAPRA funds Malaysian online florist's expansion

PETALING JAYA: Malaysian online flower company BloomThis Flora Sdn Bhd has received funding of US$600,000 (RM2.67 million) from Singapore-based venture capitalist (VC) REAPRA Pte Ltd, in its bid to expand to more Southeast Asian cities.
BloomThis is targeting Singapore and Indonesia in its next expansion phase into Southeast Asia.
The funds will also used to upgrade its technology and build up flower delivery business into the wedding space.
The company, started by husband-and-wife Giden Lim and Penny Choo in 2015, has experienced 1,200% growth in sales since a year ago, according to a statement released yesterday.
REAPRA, set up by Japanese entrepreneur Shuhei Morofuji, believes in supporting businesses that have a strong local impact with the intention to expand regionally. The firm has 14 direct subsidiaries, including two VC firms, and is invested in 40 startups across Southeast Asia in diversified industries including agriculture, healthcare, education, hospitality, digital media, travel, real estate, and aerospace.
Each subsidiary will run and develop individually with the goal of optimising its market valuation at US$2 billion within 10 years.
“REAPRA is pleased to make this investment in BloomThis as the company meets our growth strategy of investing in startups that have a good fit of a traditional business and technology to drive it forward,” said Vikram Bharati, investments lead at REAPRA.
BloomThis serves as an online flower gifting brand through collaborations with SK-II, Christian Dior, Benefit, The Body Shop, and other luxury consumer brands.