The sustainable home cleaning and personal care brand will channel new funding towards scaling its offering in Singapore while doubling down on expansion plans across Malaysia, Australia and New Zealand.
SINGAPORE | August 11, 2022 | PRNewswire
SimplyGood (www.simplygood.sg), the Singapore brand that’s reimagining everyday home cleaning & personal care products to eliminate single-use plastics, has announced a SG$0.5M pre-seed funding round led by Damson Capital alongside angel investors including Kuok Meng Xiong, Founder & Managing Director of K3 Ventures.
This round will fuel direct-to-consumer growth of its proprietary dissolvable home cleaning tablets across Singapore, Malaysia, Australia and New Zealand. While accelerating new product launches into the personal care category, starting with hand soap tablets in September 2022. In doing so, SimplyGood is doubling down on its commitment to provide consumers with easy, affordable and sustainable alternatives to traditional liquid grocery products which rely on single use plastics packaging and harsh chemicals.
Launched in May 2021, SimplyGood strives to help consumers take easy actions at home which have a real and positive impact on the planet. Their innovative eco-home cleaning and personal care cleaning tablets are designed to help eliminate single use plastic in the home and reduce home carbon footprint.
SimplyGood’s proprietary dissolvable home cleaning tablets for bathroom, kitchen and glass are 300 times lighter and 200 times smaller than traditional supermarket liquid cleaners. All SimplyGood products are made from the 100% plant-based natural ingredients to keep families and pets safe. Their packaging is compostable too.
As a USDA Biopreferred, EPA Safer choice, Leaping Bunny certified company, SimplyGood is recognized for meeting the highest standards of environmental performance, transparency, and accountability. In its first year, they have compelled more than 4500 customers to make the switch, sold over 25,000 eco cleaning products, and helped to save over 25,600 single use plastic bottles from landfill.
“When we started SimplyGood, we set out to change both consumer behavior and industry practices around single use plastic consumption," said Jeremy Lee, Founder and CEO of SimplyGood. "We’ve had great interest from consumers in our proprietary dry tablets which give a top quality clean at an affordable price. Switching not only saves single use plastics, but drastically reduces transport emissions and saves space in homes”.
This financing round was led by Damson Capital who recognise the value of impact brands in generating revenue through sustainable behaviour change.
“SimplyGood's cleaning solutions and personal care products make plastic waste a thing of the past. We have witnessed the team's commitment to environmental consciousness and have been impressed with how they continue to push the boundaries in their product innovation and design to transform everyday care products to be more environmentally friendly while still being accessible to all. At Damson, we believe that startups who hold environmental and social impact as core principles will be the largest contributors to solving the world's most pressing challenges. We are proud to catalyse SimplyGood's mission to make the world and our everyday consumption more environmentally conscious." says Leon Toh, Managing Partner, Damson Capital.
"We believe in SimplyGood’s mission to create high quality, easy to use and affordable sustainable home cleaning and personal care products. The pandemic has disrupted supply chains and shifted consumer attitudes and SimplyGood is well positioned to capitalize on both the long-term structural trends.” says Bennett Lee, Venture Capital and Angel Investor.
"The global climate emergency has accelerated the growth spurt in impact investing. This has produced a new generation of SMEs committed to social and environmental good. CDL set up its Incubator For SDGs initiative in 2019 to support such social enterprises and innovators. SimplyGood is one of our inaugural start-ups under this programme. SimplyGood’s mission complements CDL’s long-standing sustainability commitment. We believe that its products will help to make a positive impact by reducing consumers’ use of single-use plastics. In alignment with our low-carbon and waste reduction vision, we are glad to be exploring gifting of SimplyGood’s eco-friendly home care kits to our homebuyers. Congratulations to Jeremy and his team once again, for being highly committed to sustainable innovation." says Esther AN, Chief Sustainability Officer, CDL.
About SimplyGood
At SimplyGood, we're passionate about helping consumers take easy actions at home which have a real and positive impact on the planet. Our innovative eco-home cleaning and personal care products are designed to help eliminate single use plastic in the home and reduce home carbon footprint. Our proprietary dissolvable home cleaning tablets for bathroom, kitchen and glass are 300 times lighter and 200 times smaller than traditional supermarket liquid cleaners. All SimplyGood products are made from the 100% plant-based natural ingredients to keep families and pets safe. Our packaging is compostable too.
For more information, please visit www.simplygood.sg For press inquiries, please contact:
Jeremy Lee
Founder
SimplyGood jeremy@simplygood.sg
CMO
SimplyGood vanessa@simplygood.sg