Hong Kong based Snaptee, a mobile app that enables users turn their mobile photos into T-shirts design, has received an additional funding of USD 750K, reports TechCrunch. The investment was led by new investors SXE Ventures, Nest, Groupon Hong Kong co-founder Danny Yeung, and Joel Neoh, the CEO of Groupon Taiwan and Groupon Malaysia. The company aims to utilize the raised funds for further expansion into the U.S. and Japan as well as to update its T-shirt design platform.
Recently, it had secured USD 600K in Series A round and USD 600K in Seed investment. The latest round brings the total capital of the firm to date is USD 1.95 million. The company is also planning to release a new version of Snaptee that is expected to be launched before the upcoming holiday season with an updated feature to, “facilitate how people discover other designers’ work.”
Snaptee claims to have about 500,000 registered users. Launched in November 2013, as a venture of Wai-lun Hong, the co-founder and CEO of Snaptee. It also allows users to apply filters and templates to their photos before aligning it on a T-shirt and original creator of the photograph keeps a small cut of any sales.Category Business Investments