Wednesday
October 5
2022

Membership-Driven E-Commerce Platform for Essential Goods Cosmart Raises US $5 Million

By Sainul Abudheen K

Cosmart has already partnered with over 80+ principals and 500+ brands and has delivered over 100,000 products in Indonesia

Cosmart, an Indonesia-based membership-driven e-commerce platform for essential goods, has secured US$5 million in oversubscribed seed funding from Lightspeed, East Ventures, and Vertex Ventures SEA & India.

Angel investors Henry Hendrawan and Albert Lucius also joined.

The firm will use the money to step up hiring and invest in breakthrough technology. “We will deploy the funds to strengthen our technology and data infrastructure further, build a world-class team, and strong partnerships with principals and key players in the supply chain ecosystem,” said Cosmart Founder and CEO Alvin Kumarga.

Source: e27 (link opens in a new window)

Categories
Technology
Tags
e-commerce, infrastructure, partnerships