Indonesia-based online fashion retailer Berrybenka has raised an undisclosed eight-figure dollar amount from investors including Softbank-Indosat Fund, the $50m fund formed by telecom groups SoftBank and IndoSat, E27 reported yesterday.
Maj Invest Private Equity, part of asset management firm Maj Invest, also participated in the round, as did private equity firm Asia Summit Capital and unnamed local investors.
Berrybenka operates an e-commerce platform specialising in fashion and beauty products, but will use the funding to continue a strategic push into offline stores. It plans to open between 10 and 15 pop-up outlets and six to 10 permanent shops, E27 stated.
Additional cash will support hiring and maintaining staff, ensuring a steady flow of inventory, and marketing and user acquisition. Berrybenka plans to make better use of mobile methods such as social media and messaging apps to promote itself, according to Tech in Asia.
The latest round follows Berrybenka’s $5m series B round led by IT services provider TransCosmos in late 2013.
Gree Ventures, the corporate venturing arm of mobile game publisher Gree, also took part in the series B round, having supplied an undisclosed amount of series A funding earlier in the year. Berrybenka’s seed capital was provided by venture capital firm East Ventures.