Bisnis.comJAKARTA-Cosmart, start membership based (membership) e-commerce first in Indonesia for monthly requirements, announced seed funding of US$5 million or Rs 76 billion from three investors, namely Lightspeed, East Ventures and Vertex Ventures SEA & India.

The Funding Cycle oversubscribed It also involves the participation of seasoned investors, namely Henry Hendrawan and Albert Lucius.

Cosmart co-founder Alvin Kumarga said funding from Lightspeed, East Ventures and Vertex Ventures will be used to strengthen technology and data infrastructure, as well as build strategic partnerships with manufacturers and key players. of the supply chain ecosystem.

“Cosmart is here to provide an easier shopping experience and low prices for common user needs, so consumers can save time, money and have no hassle,” he said. in an official statement on Monday (3/9/2022).

He said Cosmomart is single solution for users to purchase the monthly necessities. By paying a low membership fee to become a member, users can access quality products at lower prices, purchasing products not found elsewhere. e-commerce platform others, and get a product sample (samples) of a new brand.

Meanwhile, since its inception in the second quarter of 2022, Cosmart claims to have sold over 100,000 products. e-commerce start-ups This subscription was also able to drive business growth 6x over the last three months, with monthly user purchase volume recorded 4x higher than purchase activity in Platform other.

Lawjindakul, partner of Lightspeed Pachara (Pinn), expressed satisfaction with Cosmart’s innovative approach to the commercial landscape on line a strong player as consumers are always on the lookout for the best deals and lowest prices for their monthly daily needs.

“Managing monthly necessities can be very tiring. Cosmart is here as the right solution to help users save more time and money,” said Willson Weather, co-founder and managing partner of East Ventures.

Check out other news and articles on Google News

Watch the selected videos below: