Recent News

Indonesia’s Jewelry e-tailer ORORI raises fresh funding for business expansion

ORORI
Indonesia’s Jewelry e-tailer ORORI raises fresh investment

ORORI

20/4/2018 – ORORI, an Indonesian jewelry e-commerce site has recently revealed that the startup is raising a fresh funding round for operations, product development, and user acquisition.

George Budi Sumantri, the Founder and CEO of ORORI said that the startup has initiated talks with few local and foreign VCs to raise a Series B funding round and is targeting to close the financing by the final quarter of 2018.

Previously, the startup has raised a reported seven-figure Series A round in 2016, which was led by Indonusa Dwitama with the participation by 500 Startups, East Ventures, and Spiral Ventures.

Sumantri confirmed that existing investors will contribute in the upcoming funding round but declined to disclose the names of other investors or the amount of funding the startup is looking to invest in the company.

ORORI was established in 2004 as a pioneer of an online jewelry store in Indonesia. The name was taken from the word ORO, which means gold in the Italian language, and RI as the acronym of the word Ring

It claims to be the first e-commerce platform in Indonesia to deal solely in gems, gold, and jewelry. The startup aims to be profitable by 2020 and has seen its revenue and transactions double year-on-year in the last few years.

ORORI mainly focuses on quality accessories including wedding rings, engagement rings, men’s rings, women’s rings, necklaces, bracelets, ankle bracelet, women’s earrings, pendants, alphabet pendants, jewelry boxes, and jewelry cleaners.

ORORI has the vision to show the beauty of high-quality jewelry with unique and personalized designs to the wider community.

“The growth has been exponential. We will reach 100,000 user downloads by the end of April 2018,” Sumantri added.

Skincare Startup Alcheme raises Seed Investment round for Southeast Asia Expansion

Alcheme
Skincare Startup Alcheme raises Seed Investment round for Southeast Asia Expansion

Alcheme

17/4/2018 – Singapore-based skincare brand Alcheme has recently announced the closing of its seed funding round led by investment firm DSG Consumer Partners with the participation of private investor Kenneth Bishop.

Alcheme did not disclose the amount raised in the seed funding round but said capitals from the round will be used to revolutionize skincare technology, which includes new product development, market expansion in Southeast Asia, and the establishment of the company’s R&D and production laboratory.

According to co-founders Tuyen Lamy and Constance Manderfield, Alcheme is set to launch this May, using facial recognition technology to provide personalized and intentional skincare.

“This round of funding allows us to revolutionize the face of skincare by creating personalized, high-performance and accessible solutions,” said Alcheme’s CEO Lamy.

Both Lamy and Mandefield have a decade’s worth of experience in the skincare industry. The two co-founders of Alcheme were inspired to develop their own line of products during their tenure at a global beauty brand.

Alcheme uses technology that disrupts the traditional skincare methods and processes. The startup utilizes facial recognition technology to provide what the co-founders said is an objective and scientific assessment of one’s skin.

The data collected is then interpreted using Alcheme’s proprietary algorithms in tandem-with cloud-based technologies and open-sourced platform.

“The results are then interpreted and painted with the correct active ingredients to not only address one’s specific requirements but also help provide an improved and enhanced complexion,” he added.

Alcheme added that its point of differentiation stems from its direct-to-consumer business model, where it’s skincare products are customized, made-to-order and delivered to each customer.

Lamy expects the overall Asia skincare market to be growing in the high single-direct range in the coming years, driven by direct to consumer channels, including online and experience based boutiques, as brand try to connect and further engage with their customers.

“Harnessing developments in technology allows us to pave the way for the future of beauty, and offer consumers a new paradigm in skincare,” explain Lamy, the CEO of Alcheme. ”Achieving perfect skin is not about making the most for each and every one of us.”

For Mandefield, Alcheme’s COO, the startup is rethinking the entire customer and experience with skincare and that DSG Consumer Partners’ Insights will help us strengthen our offerings and Alcheme’s expansion plans in the region and beyond.

Alcheme has further claimed that the expertise of DSG Consumer Partners will reinforce its offerings and effectively assist Alcheme in expanding its business across the globe.