Base, a direct-to-consumer magnificence and wellness startup in Indonesia, has secured an undisclosed quantity of pre-Collection A financing led by native early-stage VC agency Skystar Capital.
Current traders East Ventures and Antler, apart from new ones together with iSeed Southeast Asia, Pegasus Tech Ventures, and XA Community, additionally participated.
The brand new funds will gasoline the startup’s tech and total development efforts, together with distribution, enlargement and product growth.
Launched in January 2020, Base (to not be confused with Vietnamese SaaS startup Base) caters to Indonesian shoppers’ various magnificence and wellness wants. It claims it gives a quick discovery course of and personalised contact of holistic on-line session outcomes on shoppers’ profiles to allow an immersive expertise.
The one-year-old firm gives personalised-recommendation skincare via its good pores and skin take a look at. It gives natural, vegan, and halal staple skincare merchandise — from cleansers to sunscreen — primarily concentrating on the Gen-Z and millennial shoppers.
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Throughout the pandemic, the corporate’s annual income grew greater than 24x in 2021, fuelled by the group affiliate initiative.
Geraldine Oetama, Associate of Skystar Capital, stated: “Base utilises know-how and knowledge to offer personalised skincare that’s efficient, paraben-free, and vegan. The rising demand for skincare coupled with Base’s know-how and distinctive, personalised method makes us very excited to scale Base to the subsequent stage.”
“Base is changing into a protected house for shoppers to be extra comfy of their pores and skin, as we champion variety and supply gender-fluid merchandise like sunscreen that may work for everybody,” stated Yaumi Fauziah Sugiharta, co-founder and CEO of Base.
The corporate not too long ago onboarded Cissylia Stefani-van Leeuwen as its model director. She has beforehand held VP Model roles at Indonesia’s tech-behemoths like Gojek & Tokopedia. Armed with the tech forward-thinking and revolutionary client experiences, Base creates whitespace for an inherently crowded class.
A research by Euromonitor confirmed that the sweetness business stays resilient in direction of the pandemic in comparison with different sectors which have been severely affected. Indonesia’s magnificence market is projected to hit US$10 billion by 2025, primarily pushed by the fastest-growing classes of private care (hair care, physique care) and skincare, with an annual development price of 6%. This strong market alternative is presenting Base in the precise place to scale up its development.
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Picture Credit score: Base
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