Rosé All Day Cosmetics has raised $5.41 million in Series A led by SWC Global. Meanwhile, GoTo’s net-zero target has received validation from the Science Based Targets initiative (SBTi).
SWC Global leads Rosé All Day’s Series A round
Rosé All Day Cosmetics, a direct-to-customer (D2C) beauty brand, has raised $5.41 million in a Series A funding round led by venture capital firm SWC Global, opening up the brand to a wider pool of customers and the supply chain.
The round was joined by DSG Consumer Partners and existing investor AC Ventures.
DealStreetAsia has first reported the funding based on the company’s regulatory filings.
Rosé All Day plans to expand its presence in the Indonesian market and further develop its omnichannel presence — as of now, the firm’s products can be found in stores across malls and online shops.
Rosé All Day was launched in 2017 with $10,000 in initial capital before securing seed funding from AC Ventures. The firm claimed that its annual revenue grew 6X in 2023 and 4X in 2022.
“Our investment and support go beyond capital; we aim to connect RADC with our Chinese consumer portfolios and help RADC build up supply-chain support in China,” SWC Global Vice President Wendi Xiang said in a statement.
GoTo first Indonesian firm to get SBTi’s seal of approval
PT GoTo Gojek Tokopedia Tbk, an Indonesia-listed tech group, announced on Thursday that its greenhouse gas emissions reduction targets have been validated by the Science Based Targets initiative (SBTi).
SBTi is a verification body for corporate emission reduction targets, ensuring alignment with the latest climate science and the Paris Agreement.
“Achieving SBTi’s validation of our targets is a testament to our commitment and ongoing efforts towards decarbonisation, and our dedication to integrate sustainability into the way that GoTo Group operates and grows,” Tanah Sullivan, GoTo Group Group head of sustainability, said in a statement.
GoTo has committed to reducing absolute greenhouse gas (GHG) Scope 1 and 2 emissions by 83% and absolute GHG Scope 3 by 51% — both by 2030 and compared to 2022 baseline figures.
Another approved target is to reduce absolute Scope 1 and 2 GHG emissions by 95% and Scope 3 by 90% by 2050.
Scope 1 emissions are direct GHG emissions from sources controlled by an organisation such as fuel combustion in boilers, furnaces, or vehicles. Scope 2 emissions are indirect GHG emissions associated with the purchase of electricity or cooling. Scope 3 emissions include all sources not within the Scope 1 and 2 boundaries.
GoTo is in the process of transitioning its entire fleet to EVs. The firm claimed that EV adoption among Gojek driver-partners grew 260% this year compared with 2022.