Aditya Hadi Pratama · · 1 min readJeff Bezos’ second investment in Indonesia is SME-focused firm Lummo
Lummo, an Indonesia-based startup focused on SMEs, has announced the participation of Bezos Expedition – the VC firm of Amazon founder Jeff Bezos – in its recent US$80 million series C round.
This is Bezos Expedition’s second investment among Indonesian startups, following its participation in the series B round of B2B ecommerce marketplace Ula.
Lummo founders Krishnan Menon (left) and Lorenzo Peracchione / Photo credit: Lummo
Founded in December 2019, Lummo currently has two apps under its umbrella: ecommerce enabler solution LummoShop (previously called Tokko) and bookkeeping app BukuKas. The startup was established by Krishnan Menon and Lorenzo Peracchione, who are both part of the growing Lazada mafia.
In a statement, the company said that the gross merchandise value of LummoShop grew 11x from December 2020 to December 2021.
See also: Can Indonesia’s Shopify-like startups usurp ecommerce giants?
Announced last month, Lummo’s series C round was led by Tiger Global and Sequoia Capital India. The fundraise also saw participation from CapitalG, Alphabet’s VC arm, marking its first investment in Southeast Asia.
Editing by Collin Furtado and Lorenzo Kyle Subido
(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.
