Desty Bags 46 Billion Rupiah Pre-Series A Led by 5Y Capital
5Y Capital is a China-based VC that focuses on early-stage funding; Desty is its first investment portfolio from Indonesia
Desty micro site provider startup announced a pre-series A funding round worth of $3.2 million or around 46 billion rupiah. The new funding was led by 5Y Capital. Some investors also participated, including Fosun RZ Capital, January Capital, IN Capital, and East Ventures.
For further information, 5Y Capital is a China-based VC (formerly Morningside Venture Capital) that focuses on early-stage funding. 5Y Capital has invested in Xiaomi and Kuaishou. Currently, Desty is 5Y Capital's first investment portfolio in Indonesia.
Desty is a digital platform that helps content creators, influencers and sellers on social media to market and sell their products. Users can create a mini site placed on a social media bio link or online store for free in just a few minutes. The concept is similar to Linktree with broader features.
Desty was founded in October 2020 by Mulyono Xu (CEO) and Bill Wang (COO). Both have experience and expertise in building e-commerce for 17 years under the Alibaba Group. The startup has previously secured an undisclosed amount of seed funding from East Ventures.
Through this additional investment, the company is still focused on increasing the number of teams and its user base. Xu said, Desty team is currently backed by talents with working experience in giant technology companies, from Alibaba, Facebook, Google, and Bukalapak.
In addition, he said, Desty also continues to ensure that sellers who have joined its ecosystem can develop their business efficiently. The platform is said to have been used by hundreds of thousands of users. Especially in the Covid-19 pandemic situation, sellers or merchants should be able to adapt to manage their business digitally.
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