Samreen Ahmad · · 1 min readRakuten Ventures leads $6m round of Indonesia beauty startup
Base, an Indonesia-based direct-to-consumer beauty and wellness startup, has raised US$6 million in a series A funding round led by Rakuten Ventures. Existing investors Antler, East Ventures, Skystar Capital, and Pegasus Tech Ventures also participated in the round.
Photo credit: Base
Base was founded in 2019 by Yaumi Fauziah Sugiharta, former Gojek marketing head, and Ratih Permata Sari, ex-DBS Bank product manager. The startup had raised an undisclosed amount of funding in 2021.
The D2C player is expanding its omnichannel distribution to spread across the country’s regional cities. The company has so far delivered products in 34 provinces across Indonesia.
Base plans to use the fresh funds to expand its product line, adding color cosmetics, body and hair care, edible wellness, and fragrance to its existing skincare catalog.
The company also plans to further invest in product innovation and development and grow its vegan product line.
The Indonesian beauty market is projected to hit around US$10 billion by 2025 at an annual growth rate of around 6%, according to a Euromonitor report.
See also: India’s beauty D2C space is booming, but SEA’s may be even bigger
Editing by Arpit Nayak
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