JAKARTA - Social commerce startup Chilibeli has raised US$10 million in a Series A funding round led by US-based VC firm Lightspeed Venture Partners. Other investors participating in the round include Golden Gate Ventures, Sequoia Surge, Kinesys Group, and Alto Partners.
According to Chilibeli CEO Alex Feng, the fresh funds will be used to strengthen the startup’s communities in Jakarta, South Tangerang, and Depok; expand to Bogor and Bekasi; and improve its user interface and experience.
Established in 2019, Chilibeli allows users to purchase fresh produce and other household items online by connecting farmers, suppliers, and customers through a network of agents. It claims to have recorded 150% month-on-month (mom) growth and created over 300 direct jobs across Indonesia.
“In many ways, the Chilibeli team is tapping on something that other platforms to date haven’t been able to successfully leverage: the trusted social circle,” said Golden Gate Ventures’ Justin Hall as quoted by DealStreet Asia, Friday (20/3).
“By building a technology platform that taps into everyday Indonesian’s network, they’re unlocking new, innovative ways to shop, collaborate, and even earn a living.” (MS)