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

HappyFreshs personal driver will deliver the purchased grocery to customers within the hour. Image from HappyFresh.

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.

Also read:

Jakarta-based online grocery startup HappyFresh raises $12m in Series A led by Vertex, Sinar Mas

Ensogo hires Zalora co-founder, HappyFresh sets up Philippines office

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.