Indonesia’s Bukukas Raises $80M, Plans Foray In Other Se Asian Nations

Jan 19, 2022•over 3 years ago

Amount Raised

$80 Million

Consumer GoodsReal Estate

Description

Indonesia’s BukuKas, which has changed its name to Lummo, has raised $80 million in its Series C funding round led by new investor Tiger Global Management and existing backer Sequoia Capital India, per an announcement.

Company Information

Company

Buku Kas

About

The fundraising development comes as the company carves out its expansion plans in an increasingly crowded social commerce space both in Indonesia and other Southeast Asian countries. The company last raised $50 million in its Series B round, led by London-based venture capital firm Hedosophia in 2021. In an exclusive interaction with DealStreetAsia, Lummo founder and CEO Krishnan Menon said that the startup has been in touch with its investors for almost a year to get the additional funding. While Lummo currently operates in Indonesia’s social commerce space, the company is eyeing more markets such as Vietnam, Thailand and the Philippines without setting a specific time frame.“We have definitely these ambitions.

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Indonesia’s Bukukas Raises $80M, Plans Foray In Other Se Asian Nations

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