Foreign News
@ Halal | May-June . 2022
HalalBooking records profits for Q1 Company may even reach US $ 100m in sales for the first time in its history
IN 2021 , HalalBooking , the world ’ s leading platform for halal-friendly travel , not only fully recovered to pre-pandemic levels but even reported a record year .
Sales for 2021 were US $ 36 million , which was significantly higher than 2019 ’ s figure of US $ 31m , not to mention 2020 ’ s sales of just US $ 8m . The overall profit margin on sales ( equating to the OTA commission level ) was 17 per cent , and the company made over $ 1 million in net profit for the first time in its history .
In the first quarter of 2022 , Halal- Booking ’ s growth accelerated even further , with the company recording US $ 9.3m of sales , which is a very high number for Q1 , given the seasonality of the business . This figure represents almost 200 per cent YoY growth compared to the same period
THE PARENTINC , a fast-growing tech company headquartered in Singapore , announced that it has successfully closed a US $ 22m round . The round comprised a mixture of primary and secondary investment alongside venture debt .
The funding round was led by East Ventures and other undisclosed investors . New investor Central Retail Corporation and existing investor WHG Holdings participated in the round . The venture debt funding was provided by DBS and is the second such venture debt financing obtained from the bank .
The Parentinc is the unrivalled leader in Southeast Asia focused on building holistic content , community , and commerce solutions for pregnant women and young mothers .
The company ’ s flagship brand , theAsianparent , is the region ’ s largest and most successful community platform for parents ; while its award-winning direct to consumer brand , Mama ’ s Choice , manufactures and retails safe , natural , and halal pregnancy , nursing , in 2021 , which has led the company to expect massive growth in Q2 and Q3 , which are the peak sales quarters for the business .
For 2022 , the annual total of the company ’ s conservative forecast had been estimated at 67 per cent organic YoY growth , but the firm is now investing more in its lead acquisition activities . It is hoped that sales growth will exceed 100 per cent , and the company may even reach US $ 100m in sales for the first time in its history .
HalalBooking hopes to complete a US $ 20m Series B investment round in Q2 , of which US $ 5m has already been secured . The Series B round aims to accelerate the company ’ s already exponential growth rate and achieve $ 1 billion unicorn status by 2025 .
The company has also developed many additional new technological functionalities during the first quarter of 2022 , the most notable of which is the ability to search for rooms and villas with leisure facilities such as pools , by filtering according to the degree of privacy they offer , which is especially important to halal-conscious families and ladies . The feature , known as seclusion , varies from partsecluded to mostly-secluded to fully secluded .
The Parentinc raises US $ 22m in Series D Funding Round led by East Ventures
baby care , and household products that are designed and tested in Singapore for families in Asia .
Hot on the heels of announcing LINE SEA Corp as a new shareholder , The Parentinc ’ s Group CEO and Founder , Roshni Mahtani Cheung , expresses her enthusiasm to welcome East Ventures to her company ’ s roster of investors .
Mahtani Cheung said : “ East Ventures is one of Southeast Asia ’ s most prominent venture capitals . I have always been an avid fan of their team , their philosophy of running businesses , and their depth and breadth of knowledge . Working with the EV team has been an absolute joy , and I am stoked to have Willson Cuaca , Co- Founder and Managing Partner of East Ventures , join our board .”
“ With EV ’ s expertise and pristine track record in creating unicorns across Asia , we look forward to simulating their successes and deepening our presence in Indonesia and across the region . I could not have chosen a better partner to grow The Parentinc business with .”
According to Mahtani Cheung , the investment deal between East Ventures and The Parentinc will pave the way towards the expansion of the Asian parent and Mama ’ s Choice into additional markets in the Asia Pacific and beyond .
“ With this new round of investment , our plan is to further expand our parenting community , theAsianparent , and our direct-to-consumer brand , Mama ’ s Choice , into three additional markets before the end of 2022 ,” she added .
Willson Cuaca , Co-Founder and Managing Partner of East Ventures , said : “ We are impressed by The Parentinc ’ s incredible growth and successful transition from blog to becoming the unparalleled market leader across Southeast Asia in the parenting content , community , and commerce space . We truly love the company ’ s vision , and we are confident that the calibre of talent at The Parentinc will propel this company onwards and upwards .”
Crescent Foods announces new partnership with Meijer Stores
THE NATION ’ S foremost American pioneer in premium , halal hand-cut meat and poultry products , Crescent Foods , announced a strategic partnership with Midwest-based retailer , Meijer . Products are now available in-store , offering a robust line of chicken products in more than 258 stores throughout Michigan , Illinois , Indiana , Kentucky , Ohio , and Wisconsin .
Crescent Foods is well-poised to meet the demand of all conscientious consumers and those seeking premium halal hand-cut products , for which demand continues to grow . Premium attributes of Crescent Foods ’ fresh chicken products include no antibiotics ever , vegetable- and grain-based diet ( no animal byproducts ), adherence to strict animal welfare standards , and all-natural with no artificial ingredients or preservatives .
“ Today , the lingering effects of the pandemic are still felt as labour and other challenges impact availability for specific chicken items . This has created a perfect storm as high demand grilling season gets underway for America ’ s favourite protein ,” said Huthyfah Abed , executive national sales director for Crescent Foods .
“ We are pleased to offer popular products for the grill and all Americans who seek chicken raised and processed with care , including those seeking halal hand-cut standards ,” added Abed .
Crescent Foods ’ popular chicken selections at Meijer include boneless skinless chicken breasts , thin-sliced chicken breasts , tenders , boneless skinless thighs , and drumsticks . All items feature a more sustainable , recyclable plastic tray , emphasising Crescent Foods ’ continued commitment to environmental stewardship .
Along with a store locator tool , the company supports retail sales with robust consumer resources such as a vast recipe library for chicken and other animal proteins such as turkey , beef , and lamb , frequent promotions and engagement through numerous social platforms , and the ability to opt-in to receive Crescent Foods ’ exclusive newsletter .
Crescent Foods was founded in 1995 to bring the healthy , humanely processed halal chicken to America ’ s dinner tables . Today , Crescent Foods is the largest provider of premium quality certified hand-cut halal poultry and meat products across the United States .
It prides itself on its ability to offer choice through various meat and poultry cuts , products , and packaging options to retail stores , restaurants , and institutions . Crescent Foods ’ commitment to the highest hand-cut halal standards , state-of-the-art production processes , use of technology , distribution , product development and service helps the company remain at the industry ’ s forefront in North America and globally .