Base, a direct-to-consumer cosmetics and wellness firm with headquarters in Indonesia, has secured US $6 million in a series A fundraising round headed by Rakuten Ventures. The round also included previous backers Antler, East Ventures, Skystar Capital, and Pegasus Tech Ventures.
Yaumi Fauziah Sugiharta, a former marketing director for Gojek, and Ratih Permata Sari, a former product manager for DBS Bank, created Base in 2019. A secret amount of financing has been raised by the business in 2021.
The D2C participant is extending its omnichannel reach to include regional cities in the nation. The business has already shipped goods to 34 provinces in Indonesia.
With the additional funding, Base intends to broaden its product offering and complement its current range of skincare products with colour cosmetics, body and hair care, edible wellness, and scent.
The business also intends to expand its vegan product range while continuing to engage in product research and innovation.
According to an Euromonitor analysis, the Indonesian beauty industry is anticipated to reach over US $10 billion by 2025, growing at a pace of about 6% per year.