Deepti Sri · · 1 min readIndonesian eyewear firm Saturdays bags seed funding in Alpha JWC co-led round
Indonesia-based eyewear firm Saturdays has raised an undisclosed amount in its seed funding round, which was led by VC firms Alpha JWC and Kinesys Group.
Saturdays confirmed the capital raise with Tech in Asia, adding that Alto Partners also joined the round.
Photo credit: Saturdays
The company sells affordable eyewear, which is designed in-house and made out of premium materials like Italian acetate and ultra-lightweight Japanese titanium for consumers in Asia. Its services are available through an app as well as brick-and-mortar lifestyle stores.
Saturdays will use the new funds to strengthen its online presence, invest in technology, and add more offline locations, reported DealStreetAsia.
The eyewear firm currently operates eight stores in the Greater Jakarta Area and plans to expand to more Indonesian cities in the coming years as the country’s luxury eyewear market is poised to hit US$54 million by the end of 2021.
See also: Trending in Asia: Wireless charging, a management framework, and a new breed of smart devices
Saturdays said it is inspired by US-based unicorn Warby Parker and aims to disrupt the industry by crafting authentic eyewear that is pocket-friendly and making the process convenient for consumers.
Editing by Collin Furtado and Eileen C. Ang
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
