Beauty social commerce firm bags $10M in new fundraise
Published on January 14, 2022
Original post by TechinAsia
Raena, a Singapore-based social commerce startup, has raised over US$10 million in new funding round from Alpha Wave Incubation, AC Ventures, Alto Partners, and Alfamart, according to VentureCap Insights.
The new round boosts the company’s valuation to around US$81 million.
Founded in 2020, Raena used to create personal care products with influencers. However, it has pivoted to sourcing products from brands and local manufacturers that they sell to microentrepreneurs and resellers on its platform.
The company is founded by Sreejita Deb, who previously worked for Amazon and Google.
“We have had a strong impact on our community of more than 200 brands and 50,000 sellers that use the Raena platform and are excited to partner with our investors and welcome new investors like Alfamart to continue to achieve our mission,” Deb told Tech in Asia in a statement.
Last year, Raena raised US$9 million in a series A round led by Alpha Wave Incubation and Alpha JWC Ventures.
Raena is actively hiring for key roles (General Managers, Marketing and Growth Managers, Sales Managers, and Product Managers) across the region.
Check out Raena’s LinkedIn page to learn more.