Indonesian e-grocery startup Cosmart raises US$5 M seed funding
*This article was originally published on *DealStreetAsia
Indonesian e-grocery startup Cosmart has raised $5 million in a seed funding round from Lightspeed, East Ventures, and Vertex Ventures SEA & India, a top company executive said. Angel investors including Traveloka former president Henry Hendrawan and TipTip co-founder Albert Lucius participated in the round.
Gary Khoeng, Partner, Vertex Ventures SEA & India comments, “As the Indonesian retailing landscape continues to rapidly evolve, we strongly believe in Cosmart’s novel approach to serving the greater customer segment who appreciates value and savings, among many other benefits as members, especially during current times of rising inflation and costs of necessities.”
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