About Believe
Believe is a company based in Singapore (Singapore) founded in 2019 by Ankit Mahajan and Dheeraj Batra.. Believe has raised $87.01 million across 4 funding rounds from investors including Accel, 360 One and Alteria Capital. Believe offers products and services including Vitamin C Cleanser and Hand Sanitizer. Believe operates in a competitive market with competitors including Iba Cosmetics, Ecotrail Personal Care and Lafz, among others.
- Headquarter Singapore, Singapore
- Founders Ankit Mahajan, Dheeraj Batra
- Stage Minicorn
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Sectors
ConsumerHealthcare
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Believe Pte Ltd
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Annual Revenue
$25.55 M17as on Mar 31, 2023
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Net Profit
$13.68 M119as on Mar 31, 2023
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EBITDA
$12.86 M117as on Mar 31, 2023
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Total Equity Funding
$87.01 M (USD)
in 4 rounds
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Latest Funding Round
$4.5 M (USD), Series C
May 27, 2024
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Investors
Accel
& 20 more
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Employee Count
Employee Count
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Products & Services of Believe
Believe offers a comprehensive portfolio of products and services, including Vitamin C Cleanser and Hand Sanitizer. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Facial cleanser for gentle skin renewal and glowing results
Gel for effective hand cleaning and germ protection
Funding Insights of Believe
Believe has successfully raised a total of $87.01M across 4 strategic funding rounds. The most recent funding activity was a Series C round of $4.5 million completed in May 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series C — $4.5M
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First Round
First Round
(13 Mar 2020)
- Investors Count 21
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2024 | Amount | Series C - Believe | Valuation | NV Holdings | |
| Apr, 2022 | Amount | Series C - Believe | Valuation | Venturi Partners , 360 One | |
| Dec, 2020 | Amount | Series B - Believe | Valuation | Accel , Jungle Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Believe
Believe has secured backing from 21 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Accel, 360 One and Alteria Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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NV Holdings is focused on private equity and venture capital investments.
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Founded Year | Domain | Location | |
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Multiple sectors are invested in by this venture capital firm.
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Founded Year | Domain | Location | |
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Venture capital investments in early and growth-stage companies across Southeast Asia and India, focusing on technology sectors.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Believe
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Believe
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Believe Comparisons
Competitors of Believe
Believe operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Iba Cosmetics, Ecotrail Personal Care and Lafz, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Halal certified beauty products are offered by the internet-first brand.
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| domain | founded_year | HQ Location |
Halal certified beauty products are sold via an online platform.
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| domain | founded_year | HQ Location |
Organic multi-category beauty products are offered via internet-first brand.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Believe
Frequently Asked Questions about Believe
When was Believe founded?
Believe was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Where is Believe located?
Believe is headquartered in Singapore, Singapore.
Who is the current CEO of Believe?
Ankit Mahajan is the current CEO of Believe. They have also founded this company.
Is Believe a funded company?
Believe is a funded company, having raised a total of $87.01M across 4 funding rounds to date. The company's 1st funding round was a Series B of $12.6M, raised on Mar 13, 2020.
What is the annual revenue of Believe?
Annual revenue of Believe is $25.55M as on Mar 31, 2023.
What does Believe do?
Believe was founded in 2019 in Singapore as an online retailer in the beauty and personal care sector. Multi-category products, including toothbrushes, fragrances, and cosmetics, are provided through its domain believe.sg. All items are certified halal, alcohol-free, paraben-free, and free of animal-derived ingredients. Operations are based in Singapore, with co-founders Ankit Mahajan as CEO and Dheeraj Batra.
Who are the top competitors of Believe?
Believe's top competitors include Iba Cosmetics, Ecotrail Personal Care and Lafz.
What products or services does Believe offer?
Believe offers Vitamin C Cleanser and Hand Sanitizer.
Who are Believe's investors?
Believe has 21 investors. Key investors include Accel, 360 One, Alteria Capital, Wamda, and Inuka Capital.
What is Believe's valuation?
The valuation of Believe is $283.16M as of May 2024.