BloomThis has raised $600K in seed round of funding from Singapore-based VC firm and business builder REAPRA Pte Ltd. The firm, based out of Malaysia, was set up by husband and wife duo Giden Lim and Penny Choo in 2015.
With the infused capital, BloomThis plans to unveil its service in Singapore and Indonesia as part of its next expansion phase in the Southeast Asia. In addition to this, it will focus on upgrading its technology and stepping into the wedding with its increasingly growing flower delivery business.
BloomThis offers same day on-demand flower deliveries and a subscription service that brings artisan flowers straight from the farm. The consumer can subscribe to have the flowers delivered either weekly or fortnightly a month.
The startup claims to have witnessed a huge boost in sales since its inception, 1200% to be specific. It also comes off as an online flower gifting brand via associations with Christian Dior, Benefit, SK-II, The Body Shop, and other such luxury consumer brands. Vikram Bharati, Investments lead at REAPRA, in an official statement, states,
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.
REAPRA was founded by Japanese entrepreneur Shuhei Morofuji and has 14 direct subsidiaries, including two VC firms. Each of its subsidiary has an objective of operating and developing individually with an aim of optimizing its market valuation at US$2 billion within ten years.
The firm aligns itself with the businesses that have a strong local impact with the intention to expand regionally. Till date, it has pumped capital in 40 startups across Southeast Asia specializing in different arenas including agriculture, healthcare, education, hospitality, digital media, travel, real estate, and aerospace.