Indonesia e-commerce platform Orami sold to local strategic
Orami, an Indonesian mother-and-baby-focused e-commerce platform backed by numerous venture capital investors, has been acquired by Sirclo, a local e-commerce enabler. Financial details were not disclosed.
The company’s most recent funding round came in 2016, according to AVCJ Research. It received $15 million led by Sinar Mas Digital Ventures (SMDV) and featuring Gobi Partners, Velos Partners, Ardent Capital, and Facebook co-founder Eduardo Saverin.
The investment came one month after the company was formed through the merger of two separate female-focused e-commerce platforms, Moxy and Bilna. The business was subsequently rebranded as Orami. Bilna’s backers included Cyberagent Ventures, East Ventures, and Golden Gate Ventures. Moxy was a subsidiary of WhatsNew Group, a portfolio company of Ardent.
Orami claims to be Indonesia’s largest parenting platform that combines commerce, content, and community in a single app. It is the most visited e-commerce vertical – as opposed to a horizontal platform – in the country, with over five million monthly active users. On the content side, there are tens of thousands of articles about parenting, while the Orami mother community boasts a similar number of members.
Sirclo helps companies grow their business online and has worked with over 100,000 brands to date. It offers an online store management platform for small and medium-sized enterprises (SMEs) and an end-to-end e-commerce enabler service for larger groups. The company posted a turnover of IDR3.3 trillion ($227 million) in 2020, buoyed by a fourfold surge in transactions during the COVID-19 pandemic. It has a positive net operating income.
Orami’s strong community and distribution model is expected to complement the omnichannel strategy that is part of Sirclo’s end-to-end service. Orami will operate as an independent entity that is integrated with Sirclo’s service lines. CEO Ferry Tenka (pictured, left) will become chief marketing officer of Sirclo and Hendrawan Kartika, Orami’s president, will become CFO of Sirclo.
“This corporate action can expand the enabler services that Sirclo offers to brand owners who are seeking to enter the online market. Orami has an online shopping site that facilitates established brands from the mom and baby category in selling their products. Therefore, we have a joint mission to combine our strengths in helping brands sell online in a more strategic, scalable, and efficient manner,” said Brian Marshal (pictured, center), founder and CEO of Sirclo, in a statement.
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