Jakarta’s AsmaraKu gets seed capital from Alpha JWC, IMJ Investment

Visual of Asmaraku portal. January 2016.

Jakarta-based e-commerce platform AsmaraKu  has closed a seed round of funding from Alpha JWC Ventures and IMJ Investment Partners.

The quantum of investment was not disclosed.

Founded by William Tunggaldjaja and Grace Natalia, the B2C venture focuses on the romantic products niche, selling products and services such as on-demand flower delivery, lingerie, grooming, health supplements and sexual wellness products while ensuring customer discretion and privacy.

Prior to this, AsmaraKu was self-funded. According to the firm, it plans to expand its selection of products and add new features with the latest capital infusion. AsmaraKu has also partnered with Popbox to provide smart locker pick-up options at train stations, shopping malls and convenience stores.

AsmaraKu’s emergence reflects the diverse offerings available in Indonesias’ vast e-commerce landscape, which lacks a single dominant online retailer. An Oxford Business Group analysis notes it is “diversified, dynamic and tailored to local demographics and consumer habits”.

According to a 2014 study published by SingPost, Indonesias’ online shopping population rose by 28.2 per cent in 2013 to hit 5.9 million. 2016 is projected to see the number of online shoppers reach 8.7 million.

Aside from the increased convenience, the Wall Street Journal notes that Indonesia’s second- and third-tier cities which still have few shopping malls, offer growth opportunities for e-commerce vendors.

Commenting on the investment, Tunggaldjaja said, “AsmaraKu will continue to innovate and boost customer experience by increasing our privacy features from discovery phase to ordering, shipping and receiving the product,” said Tunggaldjaja.

Launched in early 2015, it claims to have experienced organic growth of 400 per cent. AsmaraKu often partners with official distributors, with the aim of growing the awareness and educating Indonesian consumers about its products .

Jefrey Joe, principal of Alpha JWC Ventures, said, “AsmaraKu is targetting a very large market. With the team’s experience in technology sector along with their focus and deep understanding of the customers’ need in this unique segment, AsmaraKu is able to provide value added solution to the Indonesian market.”

Also Read: Jakarta meal delivery startup Black Garlic bags seed funds from Convergence, Skystar Capital

US e-commerce giant eBay plans to open office in Indonesia

Indonesia to launch new regulation on e-commerce in February

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.