Indonesia: Sociolla secures series B funding from Istyle, East Ventures

Indonesian e-commerce site Sociolla recently secured an undisclosed amount of series B funding from Japan-based fashion company Istyle and local venture capital firm East Ventures.

The funds will be used by the e-commerce site to expand its team in the tech and media division, increase operational staff, and add new features on its website.

Sociolla’s new partner, Istyle, operates a popular beauty website @cosme that attracts over 14 million users per month in Japan. The Tokyo Stock Exchange-listed company has planned to enter Indonesian market through its partnership with Sociolla. It will then proceed into Taiwan, Hong Kong, and Thailand. Previously, Istyle had expanded into China.

Sociolla was founded by Christopher Madiam, John Rasjid, and Chrisanti Indiana in March 2015. Currently, it claims to offer 140 local and foreign beauty brands, with products ranging from hair and skin care, make up, nail polish, soaps and shampoos, to other beauty accessories.

In Indonesia, Sociolla competes with Luxola Indonesia (Sephora). Sociolla currently has about eight million visits per month.

In November 2015, Sociolla raised series A investment from Venturra Capital-led consortium. Venturra, which is sponsored by conglomerate Lippo Group, invests in technology-based companies in the consumer needs, e-commerce, financial services, health care, and education sectors.

Also Read:

Indonesia: Beauty app LYKE gets $4m; Samena Capital leads HappyFresh round

Venturra Capital leads Series A investment in Indonesian online beauty platform Sociolla

Malaysia: Fitness platform KFit seals $12m Series A from Venturra Capital, SIG, Sequoia

Indonesia: HR tech startup Ekrut gets seed funding from East Ventures

Indonesia: East Ventures closes fifth fund, raises $27.5m

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.