It plans to use the newly-raised capital to expand into new regional markets, specifically Singapore and Indonesia. It will also channel some funds to upgrade its tech and expand into the wedding space.
BloomThis was launched in 2015 by husband-and-wife team, Giden Lim and Penny Choo. It offers same day on-demand flower deliveries and a subscription service that brings artisan flowers straight from the farm.
The company claims that its sales has grown by over 1,200 per cent since a year ago.
Its benefactor, REAPRA, was set up in 2014 by Japanese entrepreneur Shuhei Morofuji, is focussed on growing startups in Southeast Asia through 14 direct subsidiaries. Each subsidiary aims to 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, in an official press statement.
Currently, BloomThis has partnered with several lifestyle brands including SK-II, Christian Dior, Benefit, The Body Shop, and other luxury consumer brands, to distribute its flowers.
Image Credit: BloomThis