Scentses + Co, a Malaysia-based perfume startup, has raised an undisclosed amount of seed funding from Fave co-founder Yeoh Chen Chow as well as Malayan United Industries (MUI) Group through its venture arm Pan Malaysia Ventures.
Founded by sisters Sadira Yeong and Sabreena Yeong in July 2020, Scentses + Co offers perfume subscription services that allow customers to get different products every month. The company said that it is the first startup to offer such a service in Malaysia.
The firm currently has more than 10,000 subscribers and over 700 stock-keeping units on its platform. The company added that it has achieved a positive cash flow.
On top of the funding round, Scentses + Co also collaborated with MUI’s portfolio in the retail and hotel sectors, which include Metrojaya and Corus Hotels. The collaboration is expected to boost the startup’s annualized monthly revenue to 10 million ringgit (around US$2.4 million).
The company plans to use the fresh funds for marketing purposes.
Currency converted from Malaysian ringgit to US dollar: US$1 = 4.19 ringgit