Base Immediately Expands New Product Categories After Getting Pre-Series A Funding

Startups direct-to-consumer (DTC) "Base" will soon expand to new categories to meet the needs Skincare and wellness for consumers, having secured pre-series A funding. The round was led by Skystar Capital with participation from East Ventures and Antler, who were previous investors.

No mention was made of the amount, a number of new investors participated, including iSeed Southeast Asia, Pegasus Tech Ventures, XA Network, and angel investors who is not identified.

To DailySocial.id, Co-founder & Chief Product Officer Base Ratih Permata Sari said, the company will also use the fresh funds to accelerate its growth efforts with the main focus on getting more consumers in other regional cities in Indonesia.

"Currently, we are in the mapping and further exploration stage with several of our investor network portfolio companies to synergize Base's growth in the scope of supply chain leaders and distribution," he said.

Base launched in January 2020 known as skincare brands which offers personalized skin care recommendations with exclusive technology, namely Smart Skin Test. Base uses quality ingredients, vegan, organic, and halal, for facial cleansers up to sunscreen that can be used by the younger generation as their target consumers.

Ratih continued, Base wants to be a company tech-beauty relevant to the younger generation. Therefore, the company is constantly listening and updating the digital experience and physical product quality in order to bond closely with consumers.

“Base's main distribution channel is through marketing channels online and the pandemic conditions helped us accelerate the rate of adoption of Base product purchases as more and more consumers shop through handphone them," he added.

In an official statement, Partner of Skystar Capital Geraldine Oetama said he wanted to be able to expand Base's reach in Indonesia. According to him, Skincare is fast growing market segment and Base has solved the common problem of finding products that suit a wide range of skin types, goals, and lifestyle.

“Base uses technology and data to deliver Skincare effective personalization, free of parabens, and vegan too. Increasing demand for Skincare, coupled with Base's unique technology and personalization approach, we are very excited to take Base to the next level," said Geraldine.

Co-founder & CEO Base Yaumi Fauziah Sugiharta added, “We are very excited to continue our long-term partnership with partner investors who have joined Base from an early stage, and initiate strategic partnerships with new investors to strengthen the company's position in developing the beauty industry in Indonesia. ”

On the same occasion, Base welcomes Cissylia Stefani-van Leeuwen as the company's Brand Director in an effort to enter the next phase of growth. Previously, he held the role of VP Brand in local giant tech companies such as Gojek & Tokopedia. Armed with an understanding of technology and an innovative consumer experience, Base is creating fresh ground for the buzzing beauty category.

Beauty industry business potential

Yaumi continued, during the pandemic Base's annual income grew more than 24 times which was driven by the move of community affiliation. Consumer Base has helped sales through commissions and steps co-creation with the community, such as launching some packages limited-edition designed by well-known young local consumers and illustrators.

“Thanks to the direct relationship we have with our customers, Base is a safe space for consumers to feel more comfortable in their own skin. We value diversity and offer flexible products, regardless of gender, such as sunscreen that anyone can use.”

RESEARCH Euromonitor shows that the beauty industry remains resilient to the pandemic compared to other industries that have been affected. The beauty market in Indonesia is predicted to reach $10 billion by 2025, mainly driven by the categories of personal care (hair care, body care) and Skincare, with a rapid annual growth rate of 6%.

What Euromonitor has presented is well reflected in Indonesia. Yaumi also monitors that during this pandemic, more and more local indie beauty brands have sprung up. He considered this condition very positive because it showed that there was enormous potential and enthusiasm from potential consumers who began to switch to using local products.

Even though the competition is getting tougher, this beauty business cake is still so big because of the diversity of consumer profiles that require product type options, for example from the price or the age of the user from the consumer. "In this case, Base feels proud to be able to participate in being one of the local players who can drive the Indonesian economy through the beauty industry that focuses on serving Gen-Z and Millennial consumers," he concluded.