Base, an Indonesian direct-to-consumer cosmetics and wellness business, has raised an unknown amount in pre-Series A funding from local early-stage venture capital firm Skystar Capital.
New investors iSeed Southeast Asia, Pegasus Tech Ventures, and XA Network joined existing investors East Ventures and Antler.
The fresh funding will go into the startup’s technology and general growth initiatives, such as distribution, expansion, and product development.
Base (not to be confused with the Vietnamese SaaS company Base) was launched in January 2020 to meet the various beauty and health demands of Indonesian customers. It claims to provide a quick discovery process as well as a tailored touch of comprehensive online consultation findings on consumer profiles for an immersive experience.
Through its smart skin test, the one-year-old firm provides tailored skincare recommendations. It primarily caters to Gen-Z and millennial customers, offering organic, vegan, and halal basic skincare items ranging from cleansers to sunscreen.
The company’s yearly income increased by more than 24 times in 2021 as a result of the pandemic, thanks to the community affiliate effort.
Geraldine Oetama, Partner of Skystar Capital, said, “Base utilises technology and data to provide personalised skincare that is effective, paraben-free, and vegan. The growing demand for skincare coupled with Base’s technology and unique, personalised approach makes us very excited to scale Base to the next stage.”
“Base is becoming a safe space for consumers to be more comfortable in their skin, as we champion diversity and offer gender-fluid products like sunscreen that can work for everyone,” said Yaumi Fauziah Sugiharta, co-founder and CEO of Base.
Cissylia Stefani-van Leeuwen was recently hired as the company’s brand director. She formerly held VP Brand positions at Indonesian digital giants Gojek and Tokopedia. Base generates spaces in an inherently crowded industry by combining tech forward-thinking with creative customer experiences.
According to an Euromonitor research, the beauty business is more robust to the pandemic than other industries that have been badly impacted. The fastest-growing categories of personal care (hair care, body care) and skincare, with an annual growth rate of 6%, are expected to propel Indonesia’s beauty industry to US$10 billion by 2025. Base is in a great position to expand up to its business because of this strong market opportunity.