Heaptalk, Jakarta — NAMA Beauty, a beauty startup founded by Indonesia’s stellar celebrity and womenpreneurs Luna Maya, announced has secured US$5 million for seed funding. This fundraising was led by AC Ventures, followed by SiCepat Ekspress and PT Digital Mediatama Maxima Tbk (DMMX).
The fresh fund is set to develop several critical parts of the Company, including research and development (R&D), marketing and branding, and human capital. The beauty brand also manages to employ on the fund to diversify its product line.
In Indonesia, business in the beauty industry remains promising. The notion was supported by Euromonitor’s data which recorded that the beauty market in Indonesia is projected to reach US$1 billion in 2023. The number is obtained considering its compound annual growth rate (CAGR) that attains 16.9%.
By considering the vast potential of the industry, NAMA Beauty does not want to miss the moment. Adopting direct to consumers (D2C) model, the startup founded in 2019 presents high-quality beauty products at competitive prices. Moreover, the new deal with SiCepat and DMMX facilitates NAMA Beauty to have a strong, wide distribution network across Indonesia.
“Through the cooperation with SiCepat and DMMX, we will utilize our specialties to assist Nama Beauty to build a beauty brand with incredible growth,” stated Pandu Sjahrir, Founding Partners of AC Ventures.
Utilizing DMMX distribution network, the startup coined by Luna Maya and Marcel Lukman will have a strong offline and online distribution link.
DMMX is known to have a wide offline market distribution that can be utilized by NAMA Beauty, such as Sampoerna Retail Community (SRC) that spread in 20 cities in Indonesia, spanning convenient stores and a million retail networks. From the side of the online distribution link, NAMA beauty also can offer its products through SRC’s digital platform – a platform that DMMX provides. SiCepat Ekspres will play a role as NAMA Beauty’s logistic partner, assist the startup in the shipment process.
“Providing excellent quality, competitive price, and supported by SiCepat in the shipment process, we are optimistic that NAMA Beauty is able to penetrate Indonesia’s cosmetics market and becomes a trusted cosmetic brand for consumers in Indonesia,” stated CEO SiCepat Ekspres Indonesia The Kim Hai.
Responding to the cooperation, CEO NAMA Beauty Luna Maya stated that the Company is grateful for the support poured by AC Ventures, SiCepat, and DMMX. She also added that the synergy with its investors would fuel the growth of the entity maximally.
