Indonesia-based startup The Shonet, a social network for fashion, beauty and lifestyle, has raised an unspecified seed funding round from Maloekoe Ventures.
The funding will be used to invest in core technology infrastructure, marketing, and team growth, according to an official statement.
The Shonet, which is short for Shopping Network, works with local social media influencers who have become the new A-list celebrities in Indonesia and trusted buying experts for consumers wanting more authentic, consistent, and informed fashion, beauty, and lifestyle advice.
The influencers, known as Shonet Insiders, are able to grow and engage more deeply with their audiences through The Shonet’s extended network, which includes partnerships with Grab Daily, LINE Today, and several other social media pages and networks. Insiders are able to monetise their Shonet presence through brand campaigns, exclusive products and events, advertising, and by selling products.
Founded by Elisabeth Kurniawan, The Shonet has a team of board directors and special advisors that includes Bing Chen, former Global Head of Creator Development & Management at YouTube, who was responsible for architecting the world’s largest influencer ecosystem.
The popularity and power of influencers in Indonesia have been a magnet for local and foreign marketing-tech startups. Last month, Tellscore, a Thailand-based automated micro-influencers-meet-brands startup was said to be raising a $5-million Series A round to expand in Indonesia.
In January, Indonesian video storytelling platform TADOtv, which works with influencers to make short videos, secured seed funding in a round led by Insignia Ventures Partners.
Other prominent players in the space include Casting Asia platform launched by AI-driven solutions developer Anymind Group, and Narratrs, which is backed by Nasdaq-listed The Marketing Group (TMG).