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March 20, 2020

Community-based social commerce platform Chilibeli raises US$10M led by Lightspeed Ventures

Indonesian social commerce platform Chilibeli that connects farmers and manufacturers to bring fresh and quality products at affordable prices, has received US$10 million in funding, led by Lightspeed Ventures. 

Also participated in the round are Golden Gate Ventures, Sequoia Surge, Kinesys Group, and Alto Partners.

According to the company, the funds are being used to strengthen Jakarta, Tangerang Selatan, and Depok’s networks of communities, while also expanding its reach to Bogor and Bekasi. It also plans to continue to improve the UI and UX of its application, as well as advancing the facility of its Depok’s warehouse.

Launched in July 2019 by Alex Feng, Damon Yue, and Matt Li, Chilibeli empowers its agents (partners), many of whom are housewives, with the opportunity to create value for consumers, promote community bonding, and increase their household income.

Chilibeli saw a social opportunity in Indonesian housewives being in control of household spending. The firm is seeking opportunities to pursue their aspirations by also finding another source of income to the family, and Chilibeli benefits housewives by leveraging social networks amongst their communities and neighbourhood through the most basic household spendings, and also by making the price of groceries more affordable compared to the price of the market, daily.

Source

HR tech startup EngageRocket secures US$3M in Series A funding led by Qualgro Indian healthtech CureFit raises US$109M funding led by Singapore’s Temasek

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