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Aditya Hadi Pratama · · 1 min readIndonesian social commerce website builder hauls in $3.2m from Xiaomi backer 5Y
Desty, an Indonesia-based social commerce website builder, announced that it has raised US$3.2 million in its latest round of funding.
More funding details
- Lead investor: 5Y Capital (formerly known as Morningside Venture Capital)
- Existing investor: East Ventures
- Other investors: Fosun RZ Capital, January Capital, and In Capital
- Stage: Pre-series A
More company updates
- 5Y Capital is a China-based venture capital firm that counts companies such as Xiaomi and Kuaishou in its portfolio. Desty is the firm’s first investment in Indonesia.
- According to Desty, it already has hundreds of thousands of users on its social commerce-oriented platform.
- The startup’s product offerings include a landing-page generator called Desty Page and an online store-building service called Desty Store, which complements marketplaces like Tokopedia and Shopee. The company has also launched Desty Academy, a training platform that helps online sellers grow their businesses.
- 5Y Capital is one of the most active investors in China’s startup scene. The VC firm was among the top eight investors that have put money into China-based startups in the past two years, according to Tech in Asia’s latest rankings. (Read: These are the most active investors in China’s startups)
For more coverage of the company, head here. You can also click on the link below to view key details about the company as well as its funding history.
Editing by Miguel Cordon and Arpit Nayak
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