Baby products e-store Bilna raises funds; to expand into new vertical
It has secured funds from existing investors Cyber Agent Ventures & East Ventures, and new investors DGI, TMS & Golden Gate VenturesBy Elaine Huang 07 Jan, 2014
Bilna.com, an Indonesian online shop for baby products, today announced securing an undisclosed amount in a new round of investment from existing investors Cyber Agent Ventures (CAV) and East Ventures, and new investors DG Incubation (DGI), TMS Entertainment (TMS) and Golden Gate Ventures. The round was led by DGI.
Eka Himawan, Co-founder and COO/CFO, Bilna pointed out that the decision to include Japan-based entertainment company TMS was driven by both “financial and strategic” reasons. He said, “It (TMS) has indicated will to increase presence in Indonesia, and actually, the media entertainment business is not just about production…but also about distributing the content and merchandise. This is an area we can mutually benefit.”
With new funds, Himawan said that the team will be expanding into a new vertical, enlarge and modernise their warehouse to build a scalable operation that can withstand larger volumes. The new vertical is said to be disclosed in February, but he told e27 that “it will still be in e-commerce” and have a focus on “core customers”, who are females with families.
Founded in 2012, Bilna’s first full fiscal year saw one in three customers return for more purchases. Orders also hit a peak of more than 1,000 per day. The platform claims to market “close to 10,000″ stock keeping units, with “close to 500 international and local brands”.
Ferry Tenka, Co-founder and CEO, Bilna said, “We are thrilled to have the additional support of world-class investors such as DGI, TMS and Golden Gate Ventures in our quest to be Indonesia’s most customer-centric e-commerce.”
However, the management was said to have set out “aggressive targets” for the year ahead. In 2014, Bilna will be launching more co-promotions with principals, banks, media companies and telecom companies. Himawan said, “What we saw in 2013 was only the tip of the iceberg.”
At the moment, the team has more than 70 staff and will be looking to double its headcount in 2014.
In Indonesia, Bilna’s main competitor is Tororo, a new online store for baby products headed by Ken Dean Lawadinata, who is also the CEO of Kaskus, an Indonesian forum. However, in the region, there are e-stores such as Ta Em Be in Vietnam, and Singapore-based White As Milk, dealing with the vertical.