Southeast Asian e-commerce platform Orami today announced that the company is in talks to raise another US$5 to US$7 million as an extension of the firm’s Series B in early 2016.
Previously, the startup has managed to secure US$15 million led by Indonesia’s Sinar Mas Digital Ventures (SMDV), with participation from Gobi Partners, Facebook co-founder Eduardo Saverin, Ardent Capital and Velos Partners.
It is also learned that these investors are likely to participate in this extended round as well, which capital will be used to fuel the company’s growth plans until July 2018.
If the extension round is successful, the total external financing for Orami would reach over US$20 million in the last two years.
Formed through the merger of Moxy and Blina, two women-focused e-commerce sites, Orami lies at the intersection of social commerce, content, and women.
The site covers modern female lifestyle with categories including beauty, fashion accessories, mom and baby, health and sports, home appliances and decor, among some.
Orami claims to have around 3 million visits a month, with up to 12,000 orders on peak days. Besides, around 75 percent of Orami consumers are female.
Jeremy Fichet, the CEO of Orami said in a statement, “Orami would like to dominate women e-commerce in Southeast Asia through helping female consumers with inspiration and content, and connecting them through a community.”
This news is published on Reuters.