1. Startup

Social Commerce Platform Super Secures 405 Billion Rupiah Series B Funding Led by Softbank Ventures Asia

The total investment has now exceed 502 billion Rupiah

Social commerce platform Super announced a series B funding of $28 million (over 405 billion Rupiah) led by Softbank Ventures Asia. Several investors returned to participate in this round, including Amasia, Insignia Ventures Partners, Y Combinator Continuity Fund, and Stephen Pagliuca (Co-Chairman of Bain Capital and Owner of Boston Celtics). New investors included in this series are Partners from DST Global and TNB Aura.

To date, Super has raised funding worth more than $36 million (more than IDR 502 billion), which is claimed to be the largest for a social commerce company in Indonesia. The series A round had previously been held by the companyearlier last year and succeeded with $7 million (more than Rp.101 billion) led by Amasia. With the participation of some other investors, Y Combinator, B Capital, Insignia Ventures Partners, Alpha JWC Ventures, Indonesia FMCG Group UNIFAM, Mari Elka Pangestu, and Arrive, part of the Roc Nation founded by Jay-Z.

The fresh money will be used to increase the company's business activities in East Java, as its headquarter, and expand to other provinces in eastern Indonesia this year. In addition, Super business which focuses on FMCG products will expand its product range, as well as develop a white label brand, called SuperEats.

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