THE WHAT? Indonesia beauty brand ESQA has raised US$6 million in a Series A funding round led by Unilever Ventures, the venture capital arm of Unilever, according to Technode Global.
THE DETAILS East Ventures also participated in the round.
Kezia Trihatmanto, Co-founder and Chief Product Officer at ESQA, said: “Innovation is at the forefront of our brand. Our approach is to think globally and act regionally, therefore ESQA is fast in spotting international trends but catering it to Asian skin and local demands according to our customer-centric focus, providing products that the customer needs.”
THE WHY? ESQA is said to be using the additional capital to expand globally, scale up its omnichannel distribution, and grow its product offering, talent building and strengthen its marketing strategy.
Cindy Angelina, Co-founder and Chief Executive Officer of ESQA, said: “By having consistent profitability, we weren’t looking to fundraise initially but we realized that strategic expertise is needed as the business grew.
“With Unilever Ventures’ expertise in partnering with visionary founders in building iconic consumer brands across the world and East Ventures’ strong ecosystem in Indonesia, it will empower ESQA to embark on its next stage of growth. We are excited to partner with both marquee investors.”