Desty, an Indonesia-based e-commerce solution platform, has secured US$5 million in an extended pre-series A round led by East Ventures (Growth fund).
Jungle Ventures and returning investors Fosun RZ and January Capital also joined.
This round comes about four months after Desty obtained US$3.2 million in a pre-series A round led by 5Y Capital in July 2021.
The startup will use the new funds to accelerate the product development and merchant acquisition and to launch innovative products in the next few months.
Desty was started in October 2020 as a digital platform for merchants, influencers, and creators to build a single online destination to promote and sell their products.
With a hyperlocal focus on its business model and product offerings, Desty offers easy-to-use platforms, namely Desty Page and Desty Store, for users to grow in the digital environment. It provides tools, services and applications, most of which are free. The company doesn’t charge a setup fee or monthly subscription.
“Desty was born during COVID-19 when massive digitalisation happened. Merchants, influencers, and creators have resorted to digital platforms to have a digital presence as it has become of utmost importance to thrive. Soon, we would have gathered one million creators and merchants using our platform,” said Mulyono Xu, co-founder and CEO of Desty.
About 50 per cent of Desty’s users are online merchants, while 30 per cent are creators or influencers. Its online merchants include DAMN I Love Indonesia, Luna Habit & Nama Beauty by Luna Maya, Kurumi, Janji Jiwa, Haus. Dagelan, Greysia Polii (Indonesian Olympics Gold Medalist), Choky Sitohang, Tahi Lalats (Mindblowon Studio), Daisuke Botak, Marcella Eteng, Filda Salim, and FootNoteStories are among its creators.
Also Read: A look at the future of social commerce
More digital merchants are getting tech-savvy in Indonesia as they embrace digital tools to engage with their customers. It is not surprising that the country’s e-commerce sector experienced double-digit GMV growth due to the COVID-19 pandemic, hitting US$52 billion, and is projected to grow to US$104 billion in 2025.
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Image Credit: Desty
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