Base co-founders Yaumi Fauziah Sugiharta (L) and Ratih Permata Sari
Base, a direct-to-consumer beauty and wellness startup in Indonesia, has secured an undisclosed amount of pre-Series A financing led by local early-stage VC firm Skystar Capital.
Existing investors East Ventures and Antler, besides new ones including iSeed Southeast Asia, Pegasus Tech Ventures, and XA Network, also participated.
The new funds will fuel the startup’s tech and overall growth efforts, including distribution, expansion and product development.
Launched in January 2020, Base (not to be confused with Vietnamese SaaS startup Base) caters to Indonesian consumers’ diverse beauty and wellness needs. It claims it offers a fast discovery process and personalised touch of holistic online consultation results on consumers’ profiles to enable an immersive experience.
The one-year-old company offers personalised-recommendation skincare through its smart skin test. It offers organic, vegan, and halal staple skincare products — from cleansers to sunscreen — primarily targeting the Gen-Z and millennial consumers.
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During the pandemic, the company’s annual revenue grew more than 24x in 2021, fuelled by the community affiliate initiative.
Geraldine Oetama, Partner of Skystar Capital, said: “Base utilises technology and data to provide personalised skincare that is effective, paraben-free, and vegan. The growing demand for skincare coupled with Base’s technology and unique, personalised approach makes us very excited to scale Base to the next stage.”
“Base is becoming a safe space for consumers to be more comfortable in their skin, as we champion diversity and offer gender-fluid products like sunscreen that can work for everyone,” said Yaumi Fauziah Sugiharta, co-founder and CEO of Base.
The company recently onboarded Cissylia Stefani-van Leeuwen as its brand director. She has previously held VP Brand roles at Indonesia’s tech-behemoths like Gojek & Tokopedia. Armed with the tech forward-thinking and innovative consumer experiences, Base creates whitespace for an inherently crowded category.
A study by Euromonitor showed that the beauty industry remains resilient towards the pandemic compared to other sectors which have been severely affected. Indonesia’s beauty market is projected to hit US$10 billion by 2025, mainly driven by the fastest-growing categories of personal care (hair care, body care) and skincare, with an annual growth rate of 6%. This robust market opportunity is presenting Base in the right position to scale up its growth.
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Image Credit: Base
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