Indonesian home decor platform Dekoruma snags $15m in Series C1 round

Indonesia’s home and living platform Dekoruma has raised $15 million in its Series C1 round of funding led by Nexter Ventures by SCG Cement-Building Materials and KTB Network, according to a company statement.

Existing investors including GDN, OCBC NISP Ventura, and Foundamental joined the round. 

Set up in 2016 as a furniture marketplace, Dekoruma’s platform today connects home furnishing merchants, interior designers, contractors, and property developers. 

The company will use the proceeds to expand its offline Dekoruma experience centre beyond Jakarta besides the development of more products and services. 

“The product and ecosystem that we have built have eliminated inefficiencies that plague the industry. We will scale up by expanding our business beyond Jakarta and partnering with more partners and property developers,” Dekoruma co-founder and CEO Dimas Harry Priawan said in the statement. 

To date, Dekoruma has served more than a million customers, partnering with over 5,000 designers and contractors, and tier 1 and 2 property developers in Indonesia.

Dekoruma claims that it is expecting to hit EBITDA positive by the end of 2022. “Our focus now is to grow the business and hit EBITDA positive by the end of 2022. Then, we will gear up for an IPO sometime in the end of 2023,” Priawan said. 

Following the outbreak of the global pandemic at the beginning of last year, Dekoruma claims almost 100% of its customers have been engaging with interior designers virtually through its proprietary interior design and project management system. At the final stage, customers visit the experience centre to get the touch-and-feel experience of various materials before the initiation of the construction process.  

“Dekoruma is one of the few companies globally that has successfully integrated the end-to-end complex home & living supply chain. We are thrilled to support them in revolutionizing the home buying process,” Jirapat Janjerdsak, Director of  Nexter Ventures by SCG Cement-Building Materials said. 

The Series C1 investment is advised by Favour Capital, a China and South East Asia-focused TMT boutique investment bank.

Dekoruma had in May last year secured an unspecified sum in pre-Series C funding from InterVest Star SEA Growth Fund 1, construction-focused investor Foundamental, OCBC NISP Ventura, and existing investors. The company raised its Series-B round in late 2018 led by GDN and backed by AddVentures, as well as existing backers Skystar, Beenext and Convergence.

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.