Golden Moments, an F&B company that specialises in durian mooncakes, announced 22 August it has secured S$1 million in a seed round from Ivan Lee, founder of the Thai Express group of restaurants.
The startup launched in 2017 with their signature snowskin Mao Shan Wang durian mooncakes that sold out quickly.
Revenues are estimated to cross S$2 million this year, and the injection of fresh funds will be used to invest in research and development for new offerings as well as for market expansion through e-commerce.
On top of e-commerce, they plan to go into multiple distribution channels such as supermarkets, convenience stores, and retail malls.
They also revealed that there are opportunities to expand to Indonesia, Thailand, China, and Hong Kong due to the rising demand from these markets.
Golden Moments has since introduced six new products – mochi, puff, soft-serve ice-cream, cake, and packed durians.
Co-partners of Golden Moments, Leon Chan, Samuel Ow, and Josiah Jeremy said, “Even though its only been a year, Golden Moments has been on a phenomenal growth path, garnering a lot of support and demand for our products.”
“The partnership with an esteemed partner such as Mr Lee will only serve to propel us forward in our journey of success, and we’re confident it will further accelerate our market penetration.”
Featured Image Credit: Golden Moments