Bobobobo has just announced that it successfully sealed an undisclosed Series A Funding from EMTEK Group’s subsidiary, PT. Kreatif Media Karya (KMK). The funding will be allocated to the development of its customer base as well as online marketing. The startup will also better up its collaboration with partnering merchants and improve its mobile initiative performance.
Although being undisclosed, EMTEK Group’s Director Alvin Widarta Sariaatmadja suggested that the investment worth eleven-figure Rupiah. With the investment, EMTEK Group now owns 20 percent of Bobobobo’s total shares. Previously, EMTEK Group had just granted an undisclosed Series B funding for Bukalapak through the same subsidiary.
Sariaatmadja stated, “We can’t disclose the amount of investment at Bobobobo, but it worth eleven-figure Rupiah. That gives us 20% of Bobobobo’s total shares, thus allowing Bobobobo to grow according to its own plans.”
EMTEK Group’s focus for the next five years will stay in the online industry. So far, the company has invested at numerous digital companies like Bukalapak, PropertyGuru’s Rumah.com, Karir.com, Lakupan.com, and Bobobobo. Sariaatmadja expected that by investing at those digital players, his side may contribute in creating a better digital ecosystem in Indonesia.
With this investment it just received, Bobobobo intends to grow its products.
Bobobobo’s CEO Jimmy Akili commented, “This funding will be used to make our products better. By providing a new experience from a mobile point of view and enhancing our delivery quality, for instance. This year, we want to grow up, wince Bobobobo has actually showed a positive monthly growth since early 2015 (Bobobobo’s number of visitors has been 6 times bigger than it was in January 2015).”
Bobobobo was founded in 2013 with the vision of improving Indonesia’s creative economy by empowering local brands and designers. At the moment, Akili claimed that local brands dominate no less than 80% of Bobobobo’s total products. Moreover, Bobobobo has gathered more than 1000 brands in less than 2 years, which are classified into 7 main categories (Woman, Man, Living, Travel, Food, and Wellness).