Zingo Myanmar raises fund to expand

Ko Shwe Ventures, the Singapore firm behind oral healthcare product Zingo, announced that it had raised US$350,000 of initial seed financing from international investors to launch the product across Myanmar.

Zingo is a range of oral healthcare products specially designed to address the effects of consuming quid or betel nut. In Myanmar, about 40 percent of the population chews betel nut and over 40pc of betel users have reported experiencing mouth sensitivity and inflammation due to excessive consumption of betel. Meanwhile, 90pc of betel users reported teeth staining.

With three years of research, development, and clinical trials conducted, Zingo said its products are high quality, low cost and made for daily use. It will quickly reduce sensitivity and the staining issues betel chewers face.

Launched in 2018, Zingo chewing gum and mouthwash sachets are distributed to 1000 betel selling shops and outlets.

With the fresh funds, Ko Shwe is now aiming to take Zingo to other areas in Asia Pacific, targeting the 600 million betel users in the region.

Angel investors come from China, the US, Europe and Australia.

Sam Glatman, founder of Ko Shwe who is leading a team of 40, said that the investment will allow acceleration of Zingo “in Myanmar and beyond, as well as funding further product development.” Mr Glatman also founded Mako Seafood, a Myanmar food delivery start-up, which he has exited to focus on Ko Shwe.

Sam Bool, one of the seed investors, said that he is confident that Zingo can expand in a similar way to other ventures. Mr Bool helped launched Uber in Australia and Southeast Asia.

Zingo Myanmar was awarded the Innovation award of Young Entrepreneurs Awards 2018 organised by CCI France Myanmar, the French business group, last December.

Source: Myanmar Times

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