INDONESIAN beauty brand Rose All Day Cosmetics (RADC) has obtained US$5.41 million in Series A funding, it announced on Friday (Dec 15).
Venture capital (VC) firm SWC Global led the round, with participation from DSG Consumer Partners and the startup’s seed investor AC Ventures.
The funds will go towards growing the company’s distribution in Indonesia, expanding its market reach into other Asean countries and improving its beauty product offerings.
RADC said it will also expand its team across various departments, including marketing, social media, operations, finance and product development.
SWC Global’s vice-president Xiang Wendi said the VC firm would also connect RADC with its Chinese consumer portfolio companies and “help RADC build up supply chain support in China”.
SWC Global is an affiliate of Shunwei Capital, a VC co-founded by Xiaomi founder Lei Jun and former Xiaomi board member Koh Tuck Lye.
Recently announced SWC Global investments include clothing maker Snitch and automation software provider Growfin from India, and social commerce platform Evermos and fintech Finture in Indonesia.
RADC was co-founded in 2017 by chief executive Cindy Nyoto Gunawan and chief marketing officer, as well as head of product development Tiffany Danielle. The company markets halal-certified, cruelty-free clean beauty products in makeup and skincare.
The company said it turned profitable within one-and-a half years of its launch, although data platform Alternatives.pe shows it made a loss in 2021.
