KUALA LUMPUR – Poptron Malaysia Sdn Bhd has secured US$1 million (RM4.01 million) funding from a Nasdaq listed company to scale up its operations and technology towards being a key regional lifestyle social commerce platform.
Poptron is headquartered in Kuala Lumpur.
In a statement today, Poptron said the investment will be used to develop the platform's version 2.0, which is expected to be up in January 2021, as well as expand the team and begin operations in Singapore by the first quarter (Q1) of 2021.
“Poptron is planning to fundraise the remaining US$375,000 on pitchIN, an equity crowdfunding platform in Q1 2021,” it said.
Since the launch of the e-commerce site on September 4, 2020, Poptron has garnered over 100 microbrands selling high-quality, natural and eco-friendly products or artisanal goods with more than 700 different types of product listings.
Poptron founder Brian Johnson Lowe said its e-commerce site aims to capture US$1.6 billion of the market share with 600,000 microbrands generating Poptron’s global revenue in 2025.
“With Poptron, we hope to gather all these brands in one place for consumers to discover. Our idea is to prove the value of this unique platform and increase the business returns of our merchants first,” he said. – Bernama, January 5, 2021
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