HOMA2u team
HOMA2u, a Malaysian startup specialising in renovation and interior design materials, has secured an additional US$625,000 in its pre-series A funding round from Asia Fund X, backed by MSW Ventures and Pavilion Capital.
The company plans to use the funds to support its carbon reduction tracking initiatives and expand beyond Malaysia and Singapore into high-growth regions such as Taiwan and Japan.
Founded in 2017, HOMA is a retail platform leading the initiative to reduce, reuse, and repurpose for home improvement. It offers building materials and home finishing products at bargain prices, focusing on sustainability.
HOMA2u collaborates with environmental consultants to measure the carbon footprint of repurposing overstock materials. Each sale of overstock tiles saves about 16.42 kg of CO2 per m², reducing waste and the need for new production. Using industry standards, HOMA2u ensures transparent carbon accounting, sets new benchmarks, and issues green certificates to partners.
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The company has developed the Pro+ ecosystem, which includes over 1,000 industry stakeholders such as interior designers, architects, suppliers, and contractors. Pro+ provides a platform for the community to access curated perks and value-added services, enhancing the overall marketplace experience.
At the start of 2024, HOMA set a target to save 7.5 million kg of carbon by the end of the year. To date, HOMA2u claims to have repurposed over RM20 million (US$4.76 million) worth of overstock inventories for more than 8,000 homes.
Pennie Lim, Co-Founder and CEO of HOMA2u stated, “Our vision remains to redefine the business landscape for the built environment, but we are also cognizant of the sustainable impact we bring to the table. We are committed to expanding HOMA2u’s offerings outside of Malaysia and Singapore, specifically into high-growth regions such as Taiwan and Japan where attitudes towards ESG construction move in strikingly similar ways.”
This latest investment brings HOMA2u’s total pre-Series A funding to US$1.5 million. Existing investors include Quest Ventures Asia Fund II, Worldwide Management Solutions, and Qhazanah Sabah Berhad, the investment arm of the Sabah state government.
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Image credit: HOMA2u
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