SALT Ventures has invested an undisclosed amount in Dr Soap’s pre-seed round, while Dailybox has raised an undisclosed Series A round led by Vertex Ventures SEA.
Dr Soap raises pre-seed funding from SALT Ventures
Indonesian early-stage venture capital firm SALT Ventures has invested an undisclosed amount in Dr Soap’s pre-seed round, DealStreetAsia has learnt.
Dr Soap, a direct-to-consumer (DTC) brand founded in 2015 by Eunike Selomith and Joycellynne Stefanie, manufactures eco-friendly homecare and personal care products.
The firm’s revenue growth increased fivefold in 2020 from the previous year, as the pandemic created a greater emphasis on cleanliness and hygiene. Currently, the company has adopted an omnichannel (online and offline) approach to sales.
Selomith said the new funding will help expand the firm’s distribution channel, especially offline channels. It will also launch new products and expand product lines, while hiring resources, and building the brand.
Besides Dr Soap, SALT has invested in several other direct-to-consumer startups such as beauty startup SYCA, and women’s footwear brand Amazara. It has also invested in the car inspection company Otospector, microlearning platform MentorGue, and R66, a content, and influencer management agency.
Dailybox closes Series A funding
Jakarta-based on-demand food startup Dailybox has raised an undisclosed amount in a Series A round led by Vertex Ventures SEA.
The Kinesys Group participated in the round.
Kelvin Subowo, co-founder and CEO of Dailybox, said in the press statement that the company will focus on business expansion and developing its central kitchen. Currently, Dailybox outlets are present in several cities including Java, North Sumatra, and Bali.
“In the future, we aim to be the most prominent local F&B brand that can introduce Indonesian cuisine to the rest of Southeast Asia and the world,” Subowo said.
While the Food & Beverages (F&B) industry was severely crippled by the COVID-19 pandemic, Dailybox clocked gross year-on-year revenue growth of 700% as a group in March 2021, thanks to its cloud kitchen-based food-delivery model.
Dailybox is part of The Daily Group, which oversees several other F&B brands, including the sushi-to-go menu, Shirato, beverage brand Anytime, and ready-to-cooked meal Dailymeals.
It now claims to have more than a hundred outlets and is targeting to double this by the end of the year.
Dailybox was established in mid-2018, by Subowo and Ahmad Awdiyanto. The company partners with ride-hailing and food delivery apps Grab and Gojek. The company also collaborates with cloud kitchen providers, including GrabKitchen, YummyKitchen, and individual partners. Subowo revealed that 80% of the sales came from the food delivery service.