Indonesia-based beauty-tech startup Social Bella, which owns omnichannel beauty chain Sociolla, has secured $60 million in its latest funding led by two existing investors, Temasek and L Catterton.
The funding was also joined by East Ventures, Jungle Ventures and a number of Social Bella’s former investors, the company said in a statement. The funding follows strong, sustainable growth, with its store count up 20-fold in just two years, in part due to cross-border expansion.
“Sustainability has been our core principle since day one, and all of our bold moves are always well calculated,” said Christopher Madiam, co-founder and president of Social Bella.
“This is why we have been able to generate stellar growth despite the pandemic and raise new funds from marquee investors, validating our business model and robust fundamentals.”
Founded in 2015, Sociolla operates 60 physical stores in Indonesia and Vietnam. Its parent company’s portfolio of business includes Lilla By Sociolla, the beauty and personal care e-commerce specifically for mothers and loved ones in Indonesia, the online consumer review platform Soco and the online media Beauty Journal.