SEPTEMBERASIA BUSINESS OUTLOOK8Natco Pharma and Rainmatter Health led a $3 million Series B funding round for Pee Safe, a hygiene and wellness brand. Nithin and Nikhil Kamath and an existing investor, Alkemi Growth Capital, also participated in the round."This funding will accelerate our expansion efforts and establish us as the leading brand in the rapidly growing intimate wellness sector, which boasts a remarkable CAGR of 16 percent," Vikas Bagaria, founder and CEO of Pee Safe adding that over the past five years, the brand has achieved a growth rate of 100 percent CAGR, surpassing market expectations.Pee Safe began as a personal hygiene and fast-moving consumer goods (FMCG) brand in 2013 with just one product, a toilet seat sanitizer created by Vikas Bagaria and Srijana Bagaria (husband-wife duo). In the last six years, the company's product line has expanded to include personal hygiene categories, addressing the needs of girls from puberty to menopause. Intimate hygiene products such as reusable pads, tampons, menstrual cups, and more are included in the portfolio.Rithish Kumar, one of the company's early founding members, was named co-founder earlier this year. The newly acquired funds will be used to expand retail presence in India, expand overseas with an omni-channel approach, and allocate additional resources to marketing and awareness initiatives. HSBC Malaysia has on Sept 12 launched a $106.92 million (MYR500 million) `HSBC New Economy Fund' dedicated to providing high-growth, new economy businesses across Malaysia access to funding solutions to enable them to innovate and scale.The fund was announced at the bank's second event focused on developing the startup ecosystem in Malaysia titled, "Accelerating sustainability through the Digital Economy ­ shaping a long-term future".According to a statement, the fund will primarily support lending to tech-led businesses and emerging startups from Series B stage and beyond who are tapping opportunities within Malaysia's growing digital economy. HSBC will continue to offer working capital, treasury management and payments and cash management solutions to meet the needs of these businesses at different stages of their lifecycle.Omar Siddiq, Chief Executive Officer, HSBC Malaysia said, "Malaysia is putting itself at the forefront of ASEAN's thriving startup ecosystem with an emphasis on developing the country as a hub for high-performing businesses in the region. We are positive on the new economy in South and Southeast Asia and as a Group we are doubling down on our support for new economy players. We have invested $2 billion globally into Commercial Banking to improve our digital capabilities and to develop more solutions to support our clients." NEWSROOMHYGIENE & WELLNESS STARTUP PEE SAFE RAISES $3 MILLION FROM INVESTORS & VENTURE CAPITALISTSHSBC MALAYSIA LAUNCHES MYR 500 MILLION FUND TO DEVELOP STARTUP ECOSYSTEM
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