Aditya Hadi Pratama · · 1 min readEast Ventures leads $5m round of ex-Alibaba execs’ firm
Desty, an Indonesia-based social commerce website builder, has raised US$5 million in an extended pre-series A round led by East Ventures, with participation from Jungle Ventures, Fosun RZ Capital, and January Capital.
Desty team / Photo credit: Desty
Founded in 2020 by former Alibaba executives Bill Wang and Mulyono Xu, Desty helps creators, influencers, and merchants promote and sell their products. It offers a landing page generator called Desty Page, as well as a service called Desty Store that lets users create online shops.
The startup recorded a 60% monthly growth in traffic and a 50% monthly surge in gross merchandise value for the past six months. Its headcount currently stands at more than 60.
The investment is an extension of the US$3.2 million pre-series A funding that the company raised in July. It plans to use the fresh funds to continue developing products and acquiring merchants.
See also: Can Indonesia’s Shopify-like startups usurp ecommerce giants?
Editing by Collin Furtado and Lorenzo Kyle Subido
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