Chemical-free paint startup gush raises $4.65m in pre-Series A funding round

The funding round is led by venture capital firm TNB Aura.

gush has successfully raised $4.65m in its pre-Series A funding round, 15 months after mainboard-listed City Developments invested $3m in the advanced materials company.

“The funding will enable gush to deepen its R&D efforts into developing more advanced materials solutions beyond its flagship product, the air purifying and volatile organic chemical (VOC)-free cair interior paint,” said a media release.

Aside from paint, gush's research includes other advanced materials such as anti-thermal coating, which when applied to surfaces will reflect heat away from buildings, lessening the energy demand on active cooling especially in regions with hot climates.

Moreover, the funding raised will also allow gush to accelerate its expansion in the local and overseas markets.

“Part of the proceeds from this round will be to expand to other markets where there is significant emphasis on environmental and sustainability issues, and where consumers are willing to pay a premium for our products, especially our core product which is the air-purifying and zero-VOC cair interior paint,” Lester Leong, CFO and co-founder of gush, said.

“Some of our targeted markets also have a much higher DIY culture and we hope to see promising retail sales volumes in these markets."

To date, gush’s cair interior paint has been used in more than 1,700 residential and over 50 commercial projects which include Thomson Medical, Farrer Park Hospital, and Changi Beach Club.

Led by venture capital firm TNB Aura, gush’s pre-Series A funding round was also joined by follow-on investor Fideliem Group, and established strategic investors RSP Architects, TRIREC, as well as other prominent individual investors.

Get Singapore Business Review in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

This is the last trading day before the ghost month.
And firms say discount for vaccinated people not discriminatory.
Its revenue also rose 23.4% YoY to. US$2,262.4m in the same period. 
It is expected to be ready for launch in H2 2022.
Encouraged by vaccinations, more Singaporeans plan to travel in the next three months.
The amendments include higher penalties for erring property agencies or agents. 
The centre aims to spearhead Singapore’s maritime industry’s energy transition.
However, PropertyGuru’s data showed continued confidence amongst sellers.
The system enables employees to have test results in as fast as 60 seconds.
COVID-19 disruptions continue to cause delays in its projects.
Its underlying profit of $832.2m is still 17% below pre-COVID levels.
The airline saw a net loss of $1.12b in the same period last year.
All of its key businesses were profitable in the first six months of the year.
Singtel, Keppel Corp, and OCBC Bank led the Straits Times Index on 29 July.