Indonesian Social Commerce Website Builder, Desty Raises US $3.2 Million Funding From 5Y Capital

• ByStartupStory     |    July 19, 2021

Desty, an Indonesia-based social commerce website builder, made public that it has raised US$3.2 million in its latest round of funding. 5Y Capital, formerly known as Morningside Venture Capital is the leading investor. East Ventures are the existing investors. Fosun RZ Capital, January Capital, and In Capital are other investors. 5Y Capital is a China-based venture capital firm that involves companies such as Xiaomi and Kuaishou in its portfolio. Desty is the firm’s first investment in Indonesia.

According to Desty, it already has hundreds of thousands of users on its social commerce-oriented platform. The startup’s product offerings include a landing-page generator called Desty Page and an online store-building service called Desty Store, which complements marketplaces like Tokopedia and Shopee. The company has also launched Desty Academy, a training platform that helps online sellers grow their businesses. 5Y Capital is one of the most active investors in China’s startup scene. According to Tech in Asia’s latest rankings, the VC firm was among the top eight investors that have put money into China-based startups in the past two years.

Follow Startup Story