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No-brand one-price-all startup bags $240 million in funding from SoftBank Vision Fund

7 August, 2018 9:33 AM
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No-brand one-price-all startup bags $240 million in funding from SoftBank Vision Fund

The promise of every product at $3 wowed SoftBank CEO Masayoshi Son as a US-based startup bagged $240 million in funding from the SoftBank Vision Fund.

Brandless which sells over 300 products under its own label, or rather say without any label, promises to deliver everything on its website at $3. The website doesn’t list any other brand on its portal, thereby, selling only one kind of toothpaste, or coaster, or tree-free toilet paper.

"After just one year, we already offer more than 300 proprietary Brandless products and ship to 48 states every day in support of our thriving #Brandlesslife community," said Tina Sharkey, co-founder, and CEO of Brandless.

"SoftBank's deep experience in e-commerce, global network and long-term perspective will help us accelerate our mission to make better stuff accessible and affordable for more people."

The company will use the funds to invest more in data science and technology and create even more products and categories. To keep up with growing customer demand, Brandless will also invest in its operations and logistics platforms and capabilities.

The current assortment includes organic, non-GMO food, clean beauty and personal care products, non-toxic cleaners and home goods.

Source: moneycontrol.com

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