GRUPARA Inc today announced its investment into MASKOOLIN, a fashion e-commerce site for men. The Medco Group venture capital firm confirmed the deal last Friday at it’s free co-working space for startups, FREEWARE. MASKOOLIN focuses on discounted and off-seasons apparels for men in Indonesia.
The team behind MASKOOLIN is PT Rocktokom led by CEO Ilham Syafrialdi together with Errol Widhavian, Kristian Nalindra and Mustafa Kemal. Before starting up MASKOOLIN in August 2012, the same team founded ROCKTO, a social recommendation platform which debut at the BUBU Awards, Echelon 2011 and INAICTA 2012. It will be interesting to see how the team aims to fight in a space with major players like Rocket Internet’s Zalora.
According to GRUPARA Inc managing partner, Aryo Ariotedjo, the main driver for the investment was because of the strength of the team. He saw that Ilham and his team were strong technically and also from the business perspective. MASKOOLIN is the second fashion investment made under Medco Group, the first being in local marketplace for T-shirt design and printing, GRAVIRA in 2012. MASKOOLIN’s investment marks GRUPARA Inc’s first for 2013. The investment amount is undisclosed.