Islamic Inspection Service - SIILHalal

Indonesian social commerce platform for halal products gets US$ 8.25 mln Series A funding

An Indonesian social commerce platform for halal, Islamic or Shariah-compliant products has won $8.25 million in Series A funding from three venture capital firms.

Evermos said in a statement on Friday (Jan 10) the funding round was led by Jungle Ventures and included Shunwei Capital and Alpha JWC Ventures.

The Bandung-based start-up, which only launched nine months ago, said it already has a network of over 20,000 paid resellers across Indonesia.

The company plans to use the funds to accelerate its growth by focusing on collaborations with local brands and organisations, and build and support its reseller network, it said.

"We build the tech infrastructure to provide everyday needs for Indonesian Muslims, hence the name Evermos, short for Everyday Need for Every Moslem," said Ilham Taufiq, co-founder and Head of Partnership of Evermos.

Southeast Asia-focused Jungle Ventures manages more than $350 million across three funds, with its most recent third fund raising $240 million. Its portfolio includes budget accommodation company RedDoorz, video-on-demand service iFlix, cloud ERP and integrated business app Deskera, and digitised logistics company Waresix.

There has been a recent surge in halal-only e-commerce in Indonesia.

Source: Salam Gateway