Hypefast Reportedly Pockets Additional Funding, Enters Centaur Rank

Retail group startups online Hypefast reportedly pocketed additional fresh funds of $5,5 million (over 78 billion Rupiah). According to sources DailySocial.id, this round was joined by Monk's Hill Ventures, Jungle Ventures, Strive, Amand Ventures, and several others. The ranks of these investors previously participated in the round series A for $14 million in July 2021.

With this funding, establishing Hypefast into the ranks of startup centaur (aspiring unicorn) next in Indonesia. Centaur is a term for startups that have reached a valuation of over $100 million and under $1 billion. One of these valuations is measured based on the total funding obtained from investors.

Hypefast has yet to officially confirm the two rounds of fresh funding. Until this news was published, no response has been given from company representatives.

As a retail company, Hypefast's focus is a little different than most. They invest in and acquire startups that are focused on “digital & e-commerce native brands” which has the potential to be developed into brand global.

Apart from capital support, Hypefast helps brand owners get marketing, production and operations support, as well as utilizing data to help business analysis. Therefore, brand can grow significantly in a short time.

Category brand Hypefast's acquisitions come from fashion, beauty, health and lifestyle - which are produced, marketed and sold directly to consumers through various online channels, such as website each brand, social media, marketplace platform, and shops offline Buiboo.

So far Hypefast has managed more than 20 brand in its network with a total team of more than 150 people in Southeast Asia. A number of brand These are BohoPanna, Letter in Pine, Monomom, Soleram, Sabine and Heem, Nona, Wearstatuquo, Motiviga, Nyonya Nursing Wear, Sideline Label, Nona Rara Batik, and Bonnels

Hypefast previously targets can bring brand local to global markets in a more effective way and scalable at the end of 2022. "Currently our focus is preparing infrastructure and access so that it can be a long-term solution," said Hypefast Founder and CEO Achmad Alkatiri in an official statement.

Startup momentum new economy in Indonesia

According to CBInsights data, globally the performance of D2C startup funding experienced a decline in 2020. One of the reasons was the pandemic. However, in Indonesia it is gaining momentum, due to the presence of a fairly widespread generation of young entrepreneurs.

Marketing creativity through digital channels, such as social media, allows brand developers to gain attention and reap profits from the local market. The strategies vary, some collaborate to present limited products with well-known influencers, create viral marketing strategies, and so on.

Another important factor is the high interest of consumers in shopping on online platforms. According to e-Conomy 2020, Indonesia's e-commerce GMV reached $32 billion, the largest in the region.

Apart from that, according to a survey conducted by Facebook, there is a tendency for consumers in Indonesia to buy manufactured products brand New is the highest in percentage compared to neighboring countries in Southeast Asia. This makes market competition more dynamic, compared to a consumer base that is loyal to only certain products.