MoxyBilna raises US$15mil, rebrands into Orami
By Digital News Asia February 25, 2016
- Led by SMDV, other investors were Gobi Partners, Eduardo Saverin and more
- To boost product offering and platform, looking to enter a new SEA market
INDONESIAN e-commerce startup MoxyBilna, formed from a merger between Moxy and Bilna, said it has completed a US$15-million round of financing and has rebranded under the name Orami.
The investment round, led by Indonesia’s Sinar Mas Digital Ventures (SMDV), will be used to create a comprehensive South-East Asian online destination dedicated solely to women, the company said in a statement.
The new funds will also be used to boost its product portfolio, enhance its social commerce components, optimise its mobile and technology strategy under a unified platform for the region, and extend the end-to-end user experience.
Orami will also be looking at expanding into a new market in South-East Asia, it added.
Meanwhile, also participating in the round were Gobi Partners, Facebook cofounder and angel investor Eduardo Saverin, Ardent Capital, and Velos Partners.
“It is great to have such a diverse combination of investors – SMDV’s local Indonesian strength, Ardent Capital’s regional breadth, Gobi Partners’ know-how in social commerce and women economics, and the addition of global powerhouses Eduardo Saverin and Velos Partners,” said Orami chief executive officer Jérémy Fichet.
“This combination, plus our regional management team, arms Orami with great resources and capabilities to capture a commanding position in South-East Asia’s female e-commerce market,” he added.
Before the merger, Moxy was a women-focused e-commerce platform, while Bilna was an e-commerce platform dedicated to mother-and-baby products.
Since the merger, Orami has based its headquarters in Jakarta, consolidated close to 500 employees as a group, and has experienced “a steady sales increase” with January and February as the best months ever for the company, it said in its statement.
The company claims around three million visits a month, and on peak days, has the capacity to handle up to 12,000 orders daily.
“Between Thailand and Indonesia, where more than five million babies are born a year, women not only serve as the gateway to the home but are the key drivers of a rapidly growing economy and future generation,” said Saverin.
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