Aditya Hadi Pratama · · 1 min readEx-Traveloka exec’s ecommerce firm adds $5m to cart from East Ventures, others
Cosmart, an Indonesia-based ecommerce firm, has raised US$5 million in seed funding from Lightspeed, East Ventures, and Vertex Ventures Southeast Asia & India.
Former Traveloka president Henry Hendrawan and former Kudo chief executive Albert Lucius also chipped in.
Cosmart co-founders Alvin Kumarga (left) and Robert Tan / Photo credit: Cosmart
Founded earlier this year, Cosmart is a membership ecommerce platform that allows users to buy essential goods at cheaper prices.
In a statement, the firm said that it has partnered with more than 80 manufacturers, including prominent names such as Unilever, P&G, and Indofood. Cosmart said it has delivered more than 100,000 products since its launch.
Cosmart was founded by Alvin Kumarga, who is a former Traveloka executive and the co-founder of Airy Rooms, and Robert Tan, a former executive of investment app Pluang.
The company plans to use the fresh funding to build its membership model, invest in supply chain infrastructure, and hire more employees. It currently has more than 50 staff members.
See also: These are the most active investors in Indonesia’s startups
Editing by Miguel Cordon and Jaclyn Tiu
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