Gree Ventures leads Series A round for Indonesia’s


BerrybenkaThe venture capital arm of fast-growing Japanese social gaming company Gree has invested in Indonesian online fashion retailer Berrybenka through a Series A round.

Berrybenka said the new financing from Gree Ventures would be used to grow its Indonesian business by expanding its product selection, marketing and logistics operations.

Financial terms of the round were not disclosed.

Groupon Disdus co-founder Jason Lamuda will join the company as president director alongside Claudia Widjaja and Yenti Elizabeth.

Lamuda said, “I truly believe that fashion is one of the biggest market opportunities in the Indonesian e-Commerce landscape.

“When you look at more developed regions such as Europe, China, Japan and India, there always existed leading local fashion e-commerce players.

“Similarly, we aspire to become the leading fashion e-commerce player in Indonesia, built locally.

“We are proud to be able to promote and nurture local brands and designers who are looking to market their products throughout Indonesia.”

Berrybenka was founded in August 2011 and focuses on local and international brands targeting Indonesian women with affordable items.

It has previously raised seed funding from early-stage Asian investor East Ventures.

In October last year GRee Ventures also joined NTT Investment-Partners and Mitsubishi UFJ Capital in a $1.2m financing round for Retty, a GREE Ventures, a Japanese restaurant listings website.

Copyright © 2013 AltAssets