Indonesia-based D2C startup Base raised $6 million in a Series A round, while Singapore-based venture investor Purpose Venture Capital secured its first commitment at $10 million.
Indonesian startup Base raises $6m in Series A
Indonesian direct-to-consumer beauty and wellness startup Base announced raising $6 million in a Series A funding round anchored by Rakuten Ventures, the venture capital arm of Japan-based internet giant Rakuten.
The funding round, which followed the startup’s funding in 2021, was also participated by Antler, East Ventures, Skystar Capital, and Pegasus Tech Ventures.
Founded in 2019 by former Gojek marketing head Yaumi Fauziah Sugiharta and ex-DBS Bank product manager Ratith Permata Sari, Base sells skincare products on its platform. The products are developed based on the needs of the customer.
The startup said it will use the fresh funding to further invest in product innovation and development. It also plans boost its vegan product line, which is among its popular products online.
Purpose Venture Capital secures $10m from family office
Singapore-based early-stage venture capital firm Purpose Venture Capital announced that it has secured its first commitment from a family office.
The venture investor secured $10 million to invest in sustainable tech startups. It said it will provide up to $1 million in funding to entrepreneurs who demonstrate a clear path to profitability through innovative and impactful sustainable-focused business models and technologies.
Co-founded by Sharon Sim, Sertac Yeltekin, and Von Leong, Purpose Venture Capital invests globally, with a focus on Southeast Asia-based startups.
Its portfolio companies include digital animal health services startup Zumvet, secure access management platform Igloocompany, and fintech firm HydraX.
“With so many exciting and transformative technological innovations to build a net zero and inclusive economy, Purpose Venture Capital will curate a strategically aligned tech portfolio in partnership with this family to secure and maintain their business legacy,” said Von Leong, co-founder, Purpose Venture Capital, and Winner of Women in IT Asia Award 2021.