Sirclo, the Indonesia-based e-commerce services provider backed by conglomerate Sinar Mas, agreed yesterday to merge with Indonesia-headquartered e-commerce technology producer ICube.
Founded in 2013, Sirclo offers an e-commerce management software product called Sirclo Store in addition to an online distribution management tool dubbed Sirclo Commerce.
Venture capital firm East Ventures supplied an undisclosed amount of seed capital for Sirclo in 2014 and joined Sinar Mas subsidiary Sinar Mas Land, e-commerce company Beenos’ Beenos Plaza subsidiary and Skystar Capital to provide up to $5m in series A funding in March 2019.
ICube provides e-commerce technology and services for medium-sized retail business but has not disclosed details of any financing it has raised since being founded in 2003.
Brian Marshal, founder and CEO of Sirclo, said: “As the leading e-commerce enabler in Indonesia, Sirclo wants to continue to provide the best services and solutions for brands to develop business online.
“We are always open to opportunities to improve our abilities. When we see the potential to merge with ICube, we are increasingly confident that we can carry out this mission on a larger and more comprehensive scale through the combined strengths of the two companies.”