SIRCLO Reportedly Pockets Funding More Than 430 Billion Rupiah (UPDATED)

According to a trusted source, SIRCLO, a platform developer startup e-commerce enablers, reportedly pocketed approximately $3 million in Series B45 funding led by SMDV. East Ventures is one of the earlier investors involved in this round.

Watches DailySocial further confirmation to Sirclo, no response was given. We also tried to contact the Co-Founder and Managing Partner of East Ventures Willson Cuaca. He said that the information was actually part of the Sirclo's acquisition of Orami. "Let's say it's a part of acquisition process,” he said, Wednesday (19/5).

Referring to Willson's statement, it can be said that in this acquisition process, investors from Orami made top up. Even East Ventures also joins top up to SIRCLO. EV is an early investor of SIRCLO.

SMDV first time invested in Orami in 2016, when Orami was used as brand new entity after the merger between Bilna and Moxy. At that time, Orami pocketed $15 million in funding from a series of investors, including Gobi Partners, Ardent Capital, Velos Partners, and Co-Founder Founder Eduardo Saverin.

SIRCLO itself last announced the results series B worth $6 million in August 2020. The investors involved in this round are EV, OCBC NISP Ventura, Skystar Capital, and Sinar Mas Land.

The news of the acquisition of Orami by SIRCLO was announced in early April 2021. The aim of this acquisition is to develop the strengths of the two companies' businesses in providing end-to-end digital services to principal brands. In total, both have served more than 100 thousand brands from the MSME scale to corporations that reach millions of consumers.

After the acquisition, Orami will continue to operate as an independent entity integrated with SIRCLO services. Ferry Tenka (CEO of Orami) is currently the Chief Marketing Officer of SIRCLO and Hendrawan Kartika (President of Orami) is the Chief Financial Officer of SIRCLO.

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*We made changes to details regarding investors who entered the Series B3 round