Singapore-based advanced materials startup Gush, has raised S$4.65 million (US$3.4 million in current exchange rates) in pre-Series A round of funding per a statement released by the firm.
The round of funding was led by led by TNB Aura with existing backer Fidelium Group also participating. Other strategic investors like RSP Architects, SEEDS Capital, TRIREC and several unnamed individuals also joined the round.
Gush had previously secured S$3 million from City Development Limited (CDL) barely two years ago.
The startup will invest the capital in developing new products to improve the quality of indoor environments as well as built spaces, besides speeding up its expansion in the local and overseas markets.
Founded in 2017 by Ryan Lim and Lester Leong, Gush aims to create and provide innovative products that improve living spaces and environments. Its solutions help a spectrum of spaces, including residential, commercial and business environments.
CFO Lester Leong said: “Part of the proceeds from this round will be to expand to other markets where there is significant emphasis on environmental and sustainability issues, and where consumers are willing to pay a premium for our products, especially our core product which is the air-purifying and zero-VOC cair interior paint. Some of our targeted markets also have a much higher DIY culture and we hope to see promising retail sales volumes in these markets.”