Startup Brand Aggregator “Tjufoo” Announces Initial Funding from TNB Aura

Startups aggregator brands Tjufoo today (13/7) announced that the initial stage of funding with an undisclosed nominal amount from TNB Aura, a VC from Singapore. This fresh capital will be used by Tjufoo to accelerate his business through development direct-to-consumer (D2C) brands in the homeland.

“Tjuffo focused on offline brands native to Indonesia, providing key growth capital, and providing an outstanding team led by co-founder, TJ and Aldrian Foo, which set them apart from the rest. We hope to support the digitization of the next wave of MSMEs in Indonesia," said TNB Founding Partner Aura Vicknesh R Pillay in an official statement.

Since its establishment in early this year, Tjufoo is here to support Indonesia's overall and sustainable progress, from social, economic and environmental aspects, by providing access within the Tjufoo ecosystem as needed brand, covering distribution channels, research, funding and analytics platforms, to optimization of infrastructure and supply chains. The company also cooperates with the owner brand to provide a variety of options exit strategy and make money from the strategy.

“We are also connecting the brand with experts and experienced figures from various well-known companies in Indonesia who can provide strategic input to cooperation opportunities to grow together. We are also committed to creating a more inclusive industry that supports women's empowerment in the business world," said Tjufoo Co-founder and CEO TJ Tham.

So far, the local companies that have been assisted by Tjufoo are quite diverse. They are ACMIC, Cypruz, Granova, and Dew It. Whole brand it is claimed to be able to grow double in less than a year, sales online quadrupled in less than a quarter, added more than 4 sales points new, and open access to more than 5 million new users.

TJ said that this year the company targets to acquire more brand potential, both from within and outside the country. For brand D2C from abroad who want to expand into the country, Tjufoo will be a partner who not only provides investment, but also comprehensive expertise in business strategy, from acquisition, human resource management, to brand launched in Indonesia.

Initiation to support women's empowerment

On the same occasion, TJ also announced a collaboration with Stellar Women, a community-based platform for, by, and for women to reach their personal and professional potential. This collaboration is called AKSI Perempuan (Women's Business Acceleration), an incubation program for women-initiated businesses.

Program participants will attend training for 3-6 months from experienced practitioners. At the end of the program, up to 10 businesses will be selected which will receive further assistance from Tjufoo to take their business to a higher level.

“We understand that women face many obstacles in running a business. In addition to capital, women are also faced with roles in the family, stigma, social pressure, to the lack of access to the information and networks needed. [..] We hope this initiative can inspire many women to be bolder in starting a business,” added Stellar Women Co-founder and CEO Samira Shihab who is also Tinkerlust Co-founder and CEO.