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Kind Kones raises US$754k in a seed round led by DSG Consumer Partners

by Ashima

The plant-based ice cream brand was founded by Ishpal Bajaj and Serina Singhsachathet

Kind Kones have raised US$754k in a round led by Singaporean-based DSG Consumer Partners, an early-stage venture capital firm that focuses on identifying, investing in, and growing consumer businesses in Southeast Asia and India.  A deal advised by Bayfront Capital Advisors, the round also saw the involvement of other investors, including Sabre Ventures

When asked about her thoughts on the deal, co-founder Serina Singhsachathet shared, “Kind Kones is essentially guided by the philosophy of being kind to health, planet and others. By partnering with DSG Consumer Partners, we hope to be able to build global brand presence and explore new distribution channels. Together, we can contribute to making conscious consumption more mainstream.”

The ice cream start up was established in 2017 and now operates in Singapore and Malaysia. Currently, the brand boasts two e-commerce channels and five outlets — four in Kuala Lumpur and one in Singapore, with plans to launch another branch in Singapore in March of this year. When I asked if Thailand residents could expect to see a Kind Kones outlet opening its doors here in the near future, Serina said “Hopefully!” 

Unlike most ice-cream brands we’ve become familiar with, Kind Kones specialises in vegan ice-cream (dairy-free and egg-free) crafted out of all-natural, unprocessed ingredients like coconut, nuts, and fruits that contain no refined sugar, preservatives, or artificial additives.

Flavours they have introduced include Tiramisu, Watermelon strawberry mint, and Peppermint brownie fudge, served in your choice of tubs or flourless, gluten-free, or wholemeal cones. In addition to ice cream, their stores also serve up other sweet treats spanning brownies, doughnuts, cakes, and more. 

According to Allied Market Research‘s data, the global vegan ice cream market was valued at US$520.9 million in 2019, and is expected to reach US$805.3 million by 2027. This growth is expected to be driven by the rise in health awareness worldwide. Statistics demonstrate that more individuals are becoming vegan and becoming more conscious of their diets, particularly those with intolerances to lactose or casein. These factors, combined with several others, will contribute to the continued growth of the vegan ice cream market in the years to come. 

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