Nadine Freischlad · · 1 min readIndonesia’s Sociolla bags series B from Japanese fashion portal, East Ventures
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Sociolla, an ecommerce site for all kinds of cosmetics and beauty products just freshened up with a new round of financing.
Istyle plans to expand its business to Indonesia through this partnership.
The startup’s series B comes from Istyle, a Tokyo stock exchange-listed fashion company that operates, among other things, popular beauty website @cosme in Japan. East Ventures also participated in the round. The terms weren’t disclosed.
Istyle plans to expand its business operations to Indonesia through its partnership with Sociolla. Taiwan, Hong Kong, and Thailand will follow later this year, Sociolla said in a statement.
The Jakarta-based startup was co-founded by Christopher Madiam, John Rasjid, and Chrisanti Indiana in March 2015. Sociolla claims it offers 140 local and foreign beauty brands. It competes with names like Luxola, a Singapore-based beauty ecommerce firm that covers most of Southeast Asia and was acquired by LVMH back in July 2015.
Its series A in November 2015 was a seven-figure round led by Venturra Capital. East Ventures also invested then, along with angel investor Steve Christian of Indonesian online portal KapanLagi Network.
Editing by Michael Tegos
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