Following the investment in the leading Indonesia’s online shopping marketplace, Tokopedia, the investment for Bilna is the second company that CyberAgent Ventures, Inc. has invested in Indonesia.
Founded by Ferry Tenka, Jason Lamuda and Eka Himawan, Bilna is an Indonesian based startup which operates an e-commerce platform focusing on baby care and kids products. The latest investment by CyberAgent Ventures was made through CA Asia Internet Fund I. Singapore’s East Ventures has also taken part in the investment round. The funding amount is undisclosed.
Prior to founding Bilna, Jason Lamuda and Ferry Tenka was the cofounders of Disdus, the group buying site that was acquired by Groupon in April 2011. Founded four months ago, Bilna now covers a range of babies and toddlers product categories, including formula and food, bath and skincare, furniture, toys and clothes.
CyberAgent Ventures is bullish about the Indonesian Internet market, as stated on their official funding announcement:
“Currently, the Indonesian Internet market is rapidly growing. Judging from its recent market trend and performance of our existing portfolio company, there are clear signs indicating the rapid growth of the E-commerce market in Indonesia. Furthermore, due to economic growth, increase of personal income earnings and the growing population of Indonesia, we believe there is high demand of online shopping for babies and children related goods.”
Read on for the full press release.
Bilna.com, an e-Commerce venture focusing on baby care, moms, and kids products, has raised an undisclosed sum in a seed funding round by Cyber Agent Venture (CAV) and East Venture (EV). The company intends to use the funds in marketing, expanding product selection, adding new categories and brands, establishing the logistical system and for recruiting employees for expanding supply chain and establishing a world-class online shopping experience.
In consideration of the venture, Ferry Tenka, Co-Founder of Bilna.com noted that the Indonesian eCommerce market is growing very rapidly, with total market expected to quintuple in the next 3-4 years. “I am sure there is significant demand of baby products online, and we are confident that we will be able to dominate the baby e-Commerce market of Indonesia”. Eka Himawan, Co-Founder of Bilna.com, also noted that “Indonesia’s Baby market is as big as, if not bigger than India, yet there is no established online player that is purely focusing on this space. We think that there is a massive whitespace here”. Eka also mentioned that based on the market research, Indonesia’s diaper market is already larger than India’s. With the support from CAV and EV, Bilna sets a target of becoming the no.1 baby e-Commerce website in Indonesia with widest product selections, competitive pricing, and world-class customer’s service.
Bilna.com is an e-Commerce platform focused on retailing baby and maternity merchandise. Currently the platform markets a wide product selection with more than 2000 SKU, which includes: daily necessities, such as diapers and formulas; feeding & nursing products, such as bottles & pacifiers; bath & skin care; baby gears, such as strollers & car seats; toys; clothing; and many more. Bilna.com is the partner of choice for local and international brands tapping into millions of Indonesia’s online shopper and acts as the preferred e-commerce platform and solutions provider.
– Ferry Tenka, formerly the co-founder and CEO of Groupon Disdus
– Gusmantara Ekamukti Himawan, formerly an investment banker at Barclays
About Cyber Agent Venture (CAV)
CyberAgent Ventures, Inc is a venture capital business arm of CyberAgent, Inc., focusing on the internet/mobile sector that has invested in more than 60 start-ups in Japan, China and Vietnam, with 13 among them has successfully exited the investment.
About East Ventures (EV)
East Ventures is an early stage investment fund based in Jakarta, Singapore and Tokyo which has invested in over 20 projects and companies with the focus of consumer web or mobile internet. East Ventures also contributes to the startups ecosystem with their showcase platform Jakarta/Bandung Ventures Night and 2 incubation programs called East Ventures Alpha in Jakarta and East Ventures Accelerator in Tokyo.