Indonesian startup Base bags seed funding co-led by East Ventures, Skystar Capital

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Indonesian beauty and wellness startup Base has raised an undisclosed seed funding round, co-led by local venture capital firms East Ventures and Skystar Capital.

The fresh capital will be used to accelerate the growth of its consumers and recruit more talent, the company said in a statement.

Co-founded by former Gojek head of marketing Yaumi Fauziah Sugiharta earlier this year, Base looks to tap into Indonesia’s burgeoning beauty industry, which is said to be valued at approximately $3 billion, driven of late by the growth of beauty communities and the rise of wellness trend that is driving people to have better skin.

Base describes itself as a personalized direct-to-consumer (DTC) beauty and wellness company. Starting with personalized skincare, each Base consumer will get a custom formulation in his/her product.

Sugiharta, who has been running her own skincare blog in 2017, said that Base was designed to “remove the burden of choice” for Indonesian women who are often overwhelmed by the wide range of skincare options available.

Fellow co-founder and Chief Product Officer Ratih Permata Sari said Base looks to leverage technology to create whitespace for an inherently crowded category. Currently, the startup is partnering with R&D labs in London and Seoul to spruce up its product development and thoughtfully produce it locally in Jakarta.

“Powered by data, Base will analyze how the environment and lifestyle are affecting the skin condition. We learn from the skin consultation result from our consumers and adapt our product offering to meet their needs,” she said.

The beauty and wellness sector in the country is increasingly evincing investor interest. Beauty platform Social Bella recently made headlines when it raised $40 million in a Series D funding round, co-led by EV Growth and Temasek.

Unlike Base, Socia Bella operates an e-commerce portal called Sociolla, as well as media businesses through SO.CO and Beauty Journal, and brand distribution and development services for beauty brands from Indonesian and abroad.

In the wellness space, East Ventures earlier this year injected capital into Jakarta-based The FIT Company, which operates 5 business units: Kredoaum (fitness tech distributor), 20Fit (microgym), Fitstop (gym), Fit Lokal (healthy food restaurant), and Fitmee (instant noodles made from konjac).

The company has since acquired three local startups, namely Slim Gourmet, Wellnez Indonesia, and FITCO in an effort to develop a wellness ecosystem in Indonesia.