GREE Ventures re-ups investment in Asian beauty business Luxola


make-up_lrgAsia-focused early stage investor GREE Ventures has renewed its commitment to online beauty business Luxola by backing a $10m financing round.

Japan’s Transcosmos led the latest capital injection for Luxola, which said it planned to increase its product range, regional warehouse and storage capacity and improve customer experience.

Transcosmos president and COO Masataka Okuda said, “We believe that there is no other example within ASEAN comparable to Luxola as a reliable cross-border e-commerce company dealing with cosmetics, and we also think that its business will continue to expand even further in the future keeping pace with the growth of the cosmetics market in ASEAN.

“Our company offers global e-Commerce one-stop services in 31 countries around the world with a central focus on Japan, Europe, America, China and Korea.

“Through this new capital and business alliance with Luxola, we want to accelerate e-commerce one-stop services in the ASEAN market and continue to support the e-commerce development of our corporate clients in the ASEAN market.”

Last summer GREE led a Series A investment round in Indonesian online real estate marketplace UrbanIndo.

The financing round also included participation from new investors IMJ Fenox and a “prominent Asian entrepreneur”.

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