1. Startups

Social Bella Again Books Funding Worth 818 Billion Rupiah, Led by L Catterton

Indies Capital, East Ventures and Jungle Ventures were also involved in the funding round

Startups beauty-tech Social Bella today (05/5) announced the acquisition of a new funding of 818 billion Rupiah or approximately $57 million led by L Catterton, an investment company based in the United States. Indies Capital along with two previous investors, namely East Ventures and Jungle Ventures, were also involved in this funding.

Previously in the middle of last year Social Bella also just got $58 million funding from Temasek, Pavilion Capital, and Jungle Ventures. Recently the company is aggressively expanding its channels omnichannel by opening shops offline in various cities. Currently their B2C business "Sociolla" already has 21 stores in 9 cities in Indonesia and 1 store in Ho Chi Minh, Vietnam.

"In the midst of all the challenges [of the pandemic], we are very proud to see the consistent efforts of the Social Bella team to deliver services omnichannel The best for our customers [..] The collaboration and investment from L Catterton, Indies Capital, East Ventures, and Jungle Ventures will drive our capabilities to deliver leading technology-based innovations and the best products to our customers in Indonesia, Vietnam and the region. -other regions," Social Bella Co-founder & President Christopher Madiam.

Utilizing technology, booth omnichannel that are served to customers are designed to be interactive and connect directly to the Sociolla website and SOCO application. To get information and reviews about the product to be purchased, the end is enough scan barcodes in the SOCO app. Or if visitors already have a list of products they want to buy in the shopping cart on the Sociolla website, they can directly make transactions in the payment section.

The business concept is in fact still running amidst various restrictions due to the pandemic. Last October 2020, at a media gathering, Social Bella said that throughout the year there were almost 50% increase shopping size at Sociolla. There are more self-care products, because the average consumer is motivated to take advantage of moments of activity at home to take care of themselves.

"The penetration of the beauty and personal care industry in Southeast Asia continues to grow rapidly with innovative 'players' such as Sociolla providing more choice, premium products and increasing their reach both globally and internationally. online nor offline towards its consumers [..] The innovations made by Sociolla are able to satisfy both consumers and consumers brand principal in a balanced way," said Yock Siong Tee as Principal & Investment Lead for Southeast Asia L Catterton.

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Meanwhile the Co-Founder & Managing Partner of East Ventures Willson Cuaca added, "Sociolla has the factors that a beauty tech-company; content, community, trade, integrated retail. In addition, seeing the results of market research, we are also very excited to continue working with Social Bella."

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