VCs commit $15m to Indonesia's Orami

Gobi Partners, Velos Partners and Facebook co-founder Eduardo Saverin also participated in the round, as did Ardent Capital, according to a statement. Ardent is a backer of WhatsNew Group, which in 2015 acquired Moxy, the company that merged with Bilna last month to create MoxyBilna.

Orami will use the new capital to improve its merchandise offering, enhance its social commerce components, and create an end-to-end user experience. Originally Moxy and Bilna were to continue to operate separately; now the combined company is developing a unified platform for the region. Orami, which currently operates mainly in Indonesia and Thailand, also plans to enter a new market in Southeast Asia soon.

Along with Ardent, several of the other investors in the current round have varying degrees of association with Orami or its constituent companies. Velos was founded by Saverin and invested in Bilna last year, as did Saverin himself. Gobi is a new investor, as is SMDV, though SMDV is connected to Ardent through its parent, Indonesia's Sinarmas Group, which invested $12.7 million in Ardent last year.

"Southeast Asia is currently missing a key player who understands how to properly market towards the evolving and underserved female consumer," said Kay-mok Ku, a partner at Gobi. "In China, we have witnessed similar growth in social commerce and businesses targeting female demographic groups, and we believe that Orami has the right combination of management and vision to realize this model in Southeast Asia."

Other investors in Orami include Cyberagent Ventures, East Ventures and Golden Gate Ventures, all of which previously backed Bilna.

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• Topics
• Southeast Asia
• Technology
• Consumer
• Expansion
• Venture
• Indonesia
• Thailand
• Technology
• Consumer
• TMT
• Growth capital
• Venture