NAMA Beauty Receives 71 Billion Rupiah Funding from AC Ventures, SiCepat and DMMX

D2C startup "NAMA Beauty" received $5 million seed funding or equivalent to 71.1 billion Rupiah. This round was led by AC Ventures, supported by SiCepat Ekspres and DMMX. The company is led by the actress Luna Maya, co-founded by Marcel Lukman since 2019. NAMA Beauty is a D2C brand developer for skin care and beauty products.

"We feel grateful and blessed with the trust and support from AC Ventures, SiCepat, and DMMX, including all partners and teams. This is the right and promising momentum for Indonesia. We believe this synergy can help us to grow together and optimize opportunities and the current momentum," NAMA Beauty's CEO, Luna Maya said.

In addition to capital support, SiCepat and DMMX will become distribution partners. It includes utilizing the Sampoerna Retail Community (SRC) network across 20 cities and starting selling products on digital trading platforms. SiCepat will also be the main logistics partner in delivering NAMA products to consumers.

"I'm aware that the beauty industry is one of the most resilient in terms of growth, although it still has its challenges. Through our partnership with SiCepat and DMMX, we will leverage our respective unique strengths to help NAMA Beauty build a high-growth beauty brand and to support the company to reach its full potential," AC Ventures' Founding Partner, Pandu Sjahrir said.

D2C startup growth

Based on data from Euromonitor, the potential market for color cosmetics in Indonesia will reach $1 billion by 2023, with a CAGR of 16.9%. Combined with the D2C concept, local brands are expected to be able to optimize this potential.

The D2C or direct-to-consumer model, allows brand owners to reach their market share more efficiently with multi-channels, both offline and online. Technological assistance enables business processes to occur more streamlined, resulting in more efficient production costs to deliver products at affordable prices. In Indonesia, this model has applied in various types of industrial lines, ranging from cosmetics, skin care, fashion, to food.

Currently, a number of local venture capitalists are starting to finalize their hypotheses for D2C startups. The following are list of investors who have started to actively provide funding for D2C players

NAMA Beauty plans

NAMA Beauty will use the fresh funds for R&D development, marketing and branding, recruiting more talents, and launching new brand lines. By combining Luna Maya's ability to read the latest beauty trends with a strong R&D team, NAMA Beauty will launch a second brand that targets below market prices, without compromising product quality excellence.

On the other hand, NAMA Beauty's Co-Founder, Marcel Lukman has more than a decade of experience in the retail world. He is one of the important figures behind Atmos and The 707 Company which is a parent for a number of well-known brands, such as Fred Perry, Nudie Jeans, Superga and Melissa. The two unique backgrounds of the founders are expected to bring the company to the right pace of growth.

–Original article is in Indonesian, translated by Kristin Siagian