Indonesian e-commerce platform Cosmart bags US$5m in seed funding

INDONESIAN e-commerce platform Cosmart has raised US$5 million in seed funding from Lightspeed, East Ventures, and Vertex Ventures SEA & India.

The round also saw participation from angel investors Henry Hendrawan and Albert Lucius, the startup said in a press statement on Monday (Oct 3).

Cosmart, a shopping platform for essential goods, charges a membership fee to give users access to competitive prices for products from over 500 brands. These brands include Unilever, P&G, Wings, Indofood and more.

It was founded by Alvin Kumarga and Robert Tan in the second quarter of 2022.

The startup will use the seed funding to strengthen its technology and data infrastructure, build its team and form strong partnerships with principals and key players in the supply chain ecosystem, Kurmarga said.