Jeff Bezos leads SaaS startup Lummo’s $80 Mn funding in latest Series C round
Indonesia based SaaS startup Lummo has announced that they have secured an undisclosed amount from Amazon founder Jeff Bezos as part of approximately $80 million funding in the Series C round. According to various media sources, the funding was made through his personal investment firm, Bezos Expedition.
Together with venture capitalist heavyweights Tiger Global and Sequoia Capital India, Bezos' participation aims to strengthen Lummo’s ambition to accelerate the business growth in Indonesia and the rest of Southeast Asia.
Krishnan Menon, CEO and Founder of Lummo said,“We are honoured to have Jeff Bezos' support in this Series C investment round as we prime our business for exponential growth over the coming months and years. The investment will strengthen Lummo’s efforts to further build on our direct-to-consumer product offerings and deliver greater value to entrepreneurs and businesses in Indonesia. We hope to accelerate their business growth and maximise operational efficiency using our SaaS model,”
Formerly known as BukuKas, Lummo serves as a conduit to entrepreneurs and brands for managing their customer orders from multiple shopping platforms. This is possible with the platform’s flagship product LummoSHO. Other robust features include chat commerce, catalog integration, customer domains, personalised features and more. The startup’s service will also help them create their own official customised website, giving them the power to build their own unique brand and identity.
As a pioneer of e-commerce, Jeff Bezos is a believer in building lasting businesses. It would be interesting to see how he and fellow venture capitalists play with Lummo’s D2C model reflects this as it offers entrepreneurs and brands the opportunity to build robust long-term competitive businesses.