E-commerce

The new funding marks the re-entry of SoftBank on Flipkart’s cap table after three years.

Its latest offering, Nejree Closet, enables customers to try on products in their homes before they committing to purchases.

Taking a cue from the Thrasio-model, a bunch of local startups like 10Club, Upscalio, and Mensa, are buying digital brands to become the online version of P&G or Unilever in the country.

With the most recent funding, the three-year-old startup has now raised USD 183 million across three rounds.

The e-commerce marketplace claims to be the “dominant platform” beyond Indonesia’s metropolises.

SiCepat recently tapped into the EV industry by forming a joint venture with NFC Indonesia. The JV has acquired an electric motorcycle maker based in central Java.

Since its launch, the startup has helped over 55,000 retailers in Egypt, fulfilling more than 1 million orders and creating 1,600 direct jobs in the process.

By opening brick-and-mortar stores, JD.id may be differentiating itself from e-commerce rivals like Tokopedia and Shopee.