The amount for the Series A funding was undisclosed, reflecting a prevailing trend in Indonesia towards funding secrecy.
Launched in 2013, the Bobobobo investment may be seen by Emtek as a way to enhance Indonesia’s creative economy, enabling domestic designers and brands to enter the Indonesian market.
Established in 2013, the company hopes to occupy a position of the best-known online lifestyle brands in the country. Bobobobo pans to connect with the young Indonesian market by “connecting design with everyone.” It will leverage Emtek’s TV and other media assets to promote itself locally in the years to come.
The latest injection of capital will help the marketplace engage in brand developing and marketing activities, with the aim of growing its user base, as well as the cultivation of strategic partners with firms like Emtek. Service offerings for merchants will be improved, along with mobile initiatives.
Bobobobo founder and CEO Jimmy Akili explained “Our aim is to build an ecosystem where this community can flourish by building a marketplace that focuses on lifestyle to enable these businesses to sell online. Today, we are working with some of the best talents and brands in the country, enabling them with ecommerce capabilities from technology platforms to creative services. My hope is that both Emtek and Bobobobo’s efforts will help boost creative entrepreneurs to build sustainable businesses.”
With more than 1000 brands divided into lifestyle products and seven categories, Bobobobo seems to have traction; though it has indicated a reluctance to divulge the number of active users, according to a report from Tech in Asia. The same report states that Bobobobo claims to have grown its website visitors by 600 per cent since January 2015 and a 20 per cent monthly sales growth rate in less than two years.