Singapore-based cosmetic and skincare e-commerce startup Luxola announces today that it has received series A funding from GREE Ventures for an undisclosed amount. The startup will use the funds to help its expansion plan across Southeast Asia as well as growing its product offerings.
Luxola founder and CEO Alexis Horowitz-Burdick said that they hope to expand to Indonesia, Malaysia, Thailand, and the Philippines. e27 explained that Luxola has become GREE Ventures’ biggest investment as a Southeast Asian company. And that this falls into GREE Ventures’ US$ 25 million Asia fund.
As mentioned, Luxola’s customers are women. And we know that GREE Ventures does believe in putting its money in e-commerce businesses, including Indonesia’s Berrybenka which targets women as well. This latest investment can complement those two portfolio companies to be the women’s answers to online shopping in the region.
Today Luxola also revealed its two new senior executives Christine Ng as chief marketing and product officer as well as Adrien Barthel as general manager for Indonesia. Prior to this investment, Luxola had raised S$740,000 funding from WaveMaker Labs, Singapore’s National Research Foundation, and angel investors. GREE Ventures itself has invested in an Indonesian women’s fashion online shop Berrybenka. This latest investment could be a signal to bridge those two businesses in Indonesia.
By the way, Alexis was one of our panelists speaking about women in tech startups at our Startup Asia Singapore event. She was quite straightforward in giving her answers and had some support from the audience for her views. And this latest news is a testament that women can indeed excel in the tech startup industry – not that we had any doubts at all. Her suggestion for fellow female entrepreneurs: be tough, in every way.