Indonesia Digest: Dr Soap raises funds from SALT Ventures; Dailybox closes Series A

REUTERS/Beawiharta

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.

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.