Signature Market, a Malaysia-based direct-to-consumer healthy snack e-commerce platform, announces that it has raised a Series A round from the country’s private investment firm RHL Ventures. RHL Ventures joins other investors like Axiata Digital Innovation Fund.
Signature Market will use the undisclosed amount of funding to claim its position in the industry and scale across Southeast Asia.
Signature Market was first founded as Signature Snack in 2014 and its goal is to make healthier food products more accessible and affordable. It was established by Edwin Wang and John Cheng.
By selling all natural and organic products direct-to-consumer on its website, the company said it has the flexibility to bypass costlier distribution channels thus allowing them to sell the best product quality and freshness.
For now, Malaysia remains their focus but the company has longterm plans to be in other Southeast Asian countries, noticing the similar strong demand for healthy food products in the region.
“We decided to back Signature Market as they’re using technology to create a new way for people to access healthy snacks; helping Malaysians eat more nutritiously and lead healthier lifestyle,” said Rachel Lau, Managing Partner of RHL Ventures.
According to Nielsen, global demand for healthy snacks has been on a constant rise over the past few years, and Signature Market came on strong in Malaysia with its claim of 100 per cent natural ingredients with no preservatives.