<article>Indonesian fashion e-commerce retailer and brand partner startup <a style="color: #000080;" href="http://www.velaasia.com" target="_blank">Vela Asia</a> announced the closure of series A funding today, worth $1.5 million, led by Singapore-based <a style="color: #000080;" href="http://www.majuven.com" target="_blank">Majuven</a>, an early stage and growth stage VC fund.</article>

Indonesian fashion e-commerce retailer and brand partner startup <a style="color: #000080;" href="http://www.velaasia.com" target="_blank">Vela Asia</a> announced the closure of series A funding today, worth $1.5 million, led by Singapore-based <a style="color: #000080;" href="http://www.majuven.com" target="_blank">Majuven</a>, an early stage and growth stage VC fund.
The funds will go towards growing its partners’ websites and expanding technology offerings.
Vela Asia supports brands and manufacturers in selling their wares online, providing end-to-end support from logistics to retail. It engages with partners by building and operating their ecommerce stores in Indonesia
Incorporated in 2012, Vela was founded by Susie Sugden and Bede Moore, who were acquired from the <a style="color: #000080;" href="http://www.bcg.com/" target="_blank">Boston Consulting Group</a> by <a style="color: #000080;" href="https://www.rocket-internet.com" target="_blank">Rocket Internet</a> to co-found <a href="http://www.zalora.com/" target="_blank">Zalora</a> in Indonesia. They eventually left Rocket Internet and founded Vela.
Representing international fashion brands like <a style="color: #000080;" href="https://www.leecooper.com/" target="_blank">Lee Cooper</a> and <a style="color: #000080;" href="http://www.havaianas.com/" target="_blank">Havaianas</a>, they claim to be the exclusive online partner for more than ten fashion brands. According to Sugden, various brands have responded robustly to their model. “They can see how quickly the segment is growing and they want to take advantage of that growth,”she explained.
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Brands working with Vela Asia currently have access to real-time information about website performance, but the co-founders say this is also something they want to improve.
Led by managing partner Ho Kee Lim and executive director Chia Teck Yew, the investment in Vela is Majuven&#8217;s first investment in the e-commerce space. The VC firm usually invests in digital technologies and services, biomedical sciences and sustainable technologies.
Speaking on the investment, Chia stated: “We have been extremely impressed by the traction Vela has generated in such a short space of time. What is clear is that Vela is well-positioned to be the leading player in premium online fashion in Indonesia, and we wanted to be involved.”
“We were very pleased to close this deal with Majuven ahead of a number of other suitors,” says Moore. “Majuven’s founding partners not only bring their network and experience to the table, they also have a great track record for providing the support and mentorship that young founders need.”
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Indonesian fashion ecommerce and brand partner startup Vela Asia announced the closure of series A funding worth $1.5 million, led by Singapore's Majuven

Majuven leads $1.5m Series A round in Vela

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Majuven leads $1.5m Series A round in Vela

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