Rainforest Life, an e-commerce brand aggregator from Singapore, has acquired SKYH, a local DTC brand, for $2.4 million, while Smartkarma, a Singaporean investment intelligence platform, has acquired its peer Helixtap.
Rainforest Life acquires DTC brand SKYH
Rainforest Life, a Singaporean e-commerce brand aggregator, has acquired the local DTC brand SKYH for $2.4 million. The acquisition, which was completed in July 2024, was reported in a company filing to Singapore’s Accounting and Corporate Regulatory Authority (ACRA).
According to the ACRA report, SKYH is based in Singapore and listed its business as an e-commerce company.
Rainforest, which was founded in 2021, focuses on acquiring and investing in DTC consumer e-commerce brands, with a particular focus on the home, mom, and baby product categories. The company’s strategy involves fully acquiring these brands and then supporting them for global expansion.
Based on the filings, the company has acquired 23 brands over the past two years, the majority incorporated in Singapore. Some of them are Babbleroo, a diaper backpack brand; Lilly’s Love, a toy storage brand; Comfy Bumpy, a baby furniture brand; and Baby Deedee, a baby sleepwear brand.
Its most recent funding was in October 2023 for $21.5 million in convertible notes from its existing investors, including Canopy Tropics, Monk’s Hill Ventures, Insignia Ventures Partners, and January Capital.
According to DealStreetAsia DATA VANTAGE, the company has raised over $49.6 million so far.
Smartkarma buys Helixtap to support more data insights
Smartkarma, an investment intelligence platform based in Singapore, has acquired Helixtap, a commodities alternative data and insights platform, and merged all its businesses and teams to Smartkarma, according to the company’s statement.
This strategic move aims to expand Smartkarma’s market reach and enhance its proprietary data services across global commodity supply chains.
By integrating Helixtap’s specialised insights and analytics, Smartkarma seeks to provide enhanced value to its clients through improved data offerings and market intelligence, especially in commodities and the fast-growing global electric vehicle market.
Helixtap has built a strong reputation for its expertise in the commodities sector, particularly in pricing complexities related to natural rubber, automotive and EV industries.
