Coolmate wraps up $6 million Series B funding led by Vertex Ventures

Coolmate secured $6 million in Series B funding, led by Vertex Ventures Southeast Asia & India. Photo: Coolmate

The investment will accelerate Coolmate's international expansion, product innovation, and omnichannel retail presence across Southeast Asia.

Founded in 2019, Coolmate has quickly become Vietnam's leading D2C men's brand. Partnering with top export-driven factories, Coolmate is recognised for its high-quality apparel, product innovation, and affordability, with unmatched customer service. For several years, Coolmate has led e-commerce sales across major online marketplaces and remains a favourite brand among Vietnamese shoppers. Its product range includes activewear, casualwear, underwear and more, catering to modern men looking for style and value, with an industry-first 60-day no-questions-asked return policy that prioritises customer satisfaction.

Vietnam's domestic apparel industry is valued at $6.4 billion, fuelled by favourable macroeconomic conditions and shifts in consumer behaviour. The fast-growing middle-class consumer segment demonstrates a strong preference towards quality and customer service. They are ESG-conscious whilst also looking for affordability. Capitalising on this shift, Coolmate aligns strongly with this emerging consumer behaviour while effectively leveraging the strong local Vietnamese supply chain as a proudly "Made in Vietnam" brand.

Behind the brand, Coolmate champions sustainability by continuously innovating with eco-friendly materials like organic cotton and recycled fibres, and innovating with the latest eco-friendly production processes such as clean dye technology. This resonates with Vietnam's youth, many of whom are eco-conscious consumers, driving rapid growth through a more transparent supply chain and a direct online sales model.

Pham Chi Nhu, CEO and co-founder of Coolmate, commented on the announcement: "I am delighted to continue this journey with Vertex Ventures Southeast Asia & India – a global VC with a strong business network and expertise to help us scale. From day one, we've been driven by a mission to build a responsible business that positively impacts not only its customers but also its employees and society. At Coolmate, we are highly committed to reducing our environmental footprint whilst providing durable, stylish and comfortable clothing for modern consumers. These have always been our core values from the beginning."

Gen Ping Liu, partner at Vertex Ventures Southeast Asia & India, commented on the announcement, "We are excited about this opportunity to work with Coolmate's team. Coolmate represents the new generation of Southeast Asia's home-grown D2C brands that leverages the region's fast-expanding supply chain advantage, and Nhu represents the new generation of Vietnamese founders who are very connected to the local consumer's mindset and also have a global ambition."

Coolmate receives $2.3 million funding from GSR Ventures Coolmate announced on September 5 that it has secured an additional $2.3 million for its Series A round backed by GSR Ventures and Do Ventures.

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