Indonesia-based fashion and beauty app LYKE has secured $4 million in Series A funding, while Samena Capital has led a new investment round in online grocery firm HappyFresh.
LYKE closes $4m Series A led by Holtzbrinck Ventures
Indonesia-based fashion & beauty app LYKE today announced that it has secured close to $4 million in Series A funding, led by German VC fund Holtzbrinck Ventures, which is looking to enter the Southeast Asian market, as well as APACIG.
The venture, which enables users to shop for items from an array of fashion e-commerce sites, is led by LYKE founder and CEO Bastian Purrer. The investment will drive further product development of the platform, which offers personalised services to shoppers.
Currently, it claims to clock 30,000 monthly orders. In an interaction with e27, he said, “If you compare LYKE with other apps like Instagram Shopping, you will see how much faster and lighter it is on your device. So it (user experience) is going to be our key focus. Investors believe that there is a really strong opportunity for mobile commerce in Southeast Asia. We have a really strong team, especially our tech team and that’s why they invested in us.”
According to Purrer, it will be focusing on enabling cash-on-delivery for sellers and engaging in tales acquisition, in order to expand its team of 20 people, crediting the traction it has built to partnership with brands like Sociolla, Berrybenka, HijUp and MatahariMall.
Samena Capital leads new investment in HappyFresh
Samena Capital has led a new funding round in Jakarta-based online grocery company HappyFresh, which will use the funding to bolster its primary markets in Indonesia, Malaysia and Thailand.
Temasek’s venture arm Vertex Ventures, Sinarmas Group’s investment arm Sinar Mas Digital Ventures and Endeavor Catalyst also participated in this round, the company said, in the statement.
Despite declining to reveal the exact funding amount, the company told DEALSTREETASIA that this current funding round of HappyFresh is larger than the earlier $12-million fundraising it had completed in September last year, which was one of the region’s largest Series A rounds, led by Vertex Ventures and Sinar Mas Digital Ventures.
HappyFresh, based in Jakarta, was established in October 2014. It has been operating since March 2015 and positioned itself as an on-demand delivery player focused on fresh grocery.
“Happy Fresh provides a revolutionary technology platform for SE Asian consumers to do their grocery shopping instantly, in a flexible and convenient way that meets the highest quality standards expected for fresh produce. We look forward to partnering with Markus and the team and to support them actively in taking the company to the next level, financially as well as organisationally.” Shirish Saraf, Founder & Vice Chairman of Samena Capital, said.
Samena Capital, founded in 2008, has raised $1.1 billion of assets since 2008 and has returned $500 million in capital from over 40 full and partial exits. It currently manages total capital commitments in excess of $700 million.