Indonesia e-commerce solution platform Desty raises $5M in an extended pre-series A round from East Ventures

Desty, an Indonesia-based e-commerce solution platform startup, announced Friday that it has secured $5 million of extended pre-series A round led by East Ventures (growth fund) with participation from Jungle Ventures and returning investors Fosun RZ and January Capital. Desty said in a statement, this fresh capital will strengthen the company’s balance sheet after the company raised $ 3.2…

Indonesia e-commerce marketplace Ula secures an additional $23.1M in Series B from Tiger Global

Ula, a business-to-business (B2B) e-commerce marketplace in Indonesia, announced Tuesday it has secured an additional $23.1 million funding from Tiger Global. Binny Bansal, co-founder of Flipkart, also participated in the round. The fresh fund infusion follows the $87 million previously announced in October in a round co-led by Prosus Ventures, Tencent, and B-Capital, which were joined by…

Vietnam e-commerce platform Kilo raises $5M pre-Series A led by Altos Ventures and January Capital

Kilo, a Vietnam-based e-commerce platform that aims to digitize Micro, Small and Medium Enterprises (MSMEs), has raised $5 million in a pre-Series A round co-led by Altos Ventures and January Capital. The round was joined by Goodwater Capital, Ascend Vietnam Ventures, Decisive Capital Management, Ratio Ventures, and other angel investors. Kilo said in a statement, it plans to grow its team…

Indonesia’s Open Labs launches $100M fund to invest in e-commerce sellers

Open Labs, Indonesia home-grown brand aggregator, has launched a $100 million fund to invest in e-commerce sellers in Indonesia. The fund will invest in high-potential businesses and help them grow online, scale operations, and become great consumer brands, Open Labs said in a statement. Touted as the biggest fund among brand aggregators in Southeast Asia, the fund will focus specifically…

Carousell Group acquires Singapore-based sneaker marketplace Ox Street to accelerate re-commerce growth

Singapore-headquartered online marketplace group Carousell Group announced Monday it has acquired Ox Street, a Singapore-based marketplaces for authenticated sneakers and streetwear. Following Carousell Group’s investment from STIC Investments, this acquisition underpins the group’s strategic priority to accelerate its re-commerce growth in Greater Southeast Asia, said Carousell said in a…

Bangladesh re-commerce platform SWAP raises $1.25M in Seed funding to support growth in the country’s circular economy

SWAP, Bangladesh’s first re-commerce platform announced Thursday it had raise $1.25M in Seed funding, led by Accelerating Asia with participation from ZA Capital Advisory, Bangladesh Angels and Southeast Asian angel investors. Through SWAP, users can sell, swap, or buy products such as smartphones, laptops, appliances, vehicles and more at the press of a button. It operates as a C2B, B2B and…

EI Industrial raises $670K to launch Vietnam’s first industrial-focused B2B e-commerce marketplace

EI Industrial, the first industrial-focused B2B marketplace in Vietnam, announced Wednesday a $670,000 seed financing round led by early-stage venture capital firm Cocoon Capital with participation from BEENEXT. EI Industrial plans to invest in building a faster and more user-friendly platform and in expanding the sales, marketing, and technology teams to drive rapid growth, the company said…

Indonesia e-commerce firm Ula bags $87M Series B, ropes in Amazon’s Jeff Bezos as investor

Editor's note: Updated with statement from Ula Indonesian e-commerce startup Ula announced on Monday that it has secured $87 million in Series B funding round co-led by Dutch tech investment firm Prosus Ventures, China-based tech giant Tencent, and US-based investment firm B Capital Group. The trio were also joined by Amazon founder Jeff Bezos's Bezos Expeditions, and Southeast Asian…