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Fashion e-commerce startup Sorabel reported to raise pre-Series C funding

10 May 2019 11:46

JAKARTA - Fashion e-commerce startup Sorabel has reportedly raised a pre-Series C funding from investors including Kejora-Intervest Growth Fund and South Korean venture capital firm Shift.

As reported by DealStreet Asia, the round was closed a few months ago and the amount of funding raised by the startup remains undisclosed.

Kejora-Intervest Growth Fund confirmed its investment in Sorabel in a statement published on Thursday (9/5), while Shift includes Sorabel among its portfolio companies on its website.

Sorabel’s existing investors are reported to have participated in the round, including Open Space Ventures which joined the startup’s Series B round in mid-2017 when it was still known as Sale Stock. In the Series B round the startup raised US$ 27 million from Open Space and other investors such as Singapore’s Golden Equator Capital, Alpha JWC, and MNC Media.

Sorabel produces private label clothing and aims to make high-quality fashion affordable for middle-class consumers in Indonesia. It was founded as Sale Stock in 2014 by Lingga Madu, Ariza Novianti, Stanislaus Tandelilin, Ivan Samuel Heydemans, and Listiarso Wastuargo. (MS)

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