Indonesia-based cosmetics e-commerce platform Sociolla has raised $12m in a funding round led by corporate-backed investment venture EV Growth, Tech in Asia has reported.
EV Growth, formed by diversified conglomerate Sinar Mas, internet company Yahoo Japan and venture capital firm East Ventures, was joined by fashion e-commerce company iStyle and an undisclosed institutional investor.
Sociolla runs an online marketplace for cosmetics and beauty products such as make up, fragrances, skincare and haircare brands. The funding will support marketing for the company’s partner brands and recruitment for its social media offshoot, Sociolla Connect.
The company secured an undisclosed sum in a 2015 series A round led by VC firm Venturra Capital that included East Ventures and angel investor Steve Christian, before adding an undisclosed amount of series B funding from iStyle and East Ventures later the same year.