Jeff Bezos Invests In Lummo
The funds will be utilized to strengthen Lummo's ambition to accelerate business growth of entrepreneurs and brands in Indonesia and the rest of southeast Asia
Jeff Bezos, founder of e-commerce company Amazon.com, has invested in the Indonesian startup Lummo, a direct-to-consumer (D2C) Software-as-a-Service (SaaS) startup that provides a Shopify-like solution. Through his personal investment firm, Bezos Expedition, Bezos joined the latest Series C investment round of approximately $80 million, together with Tiger Global and Sequoia Capital India. Bezos' participation in this funding round aims to strengthen Lummo's ambition to accelerate the business growth of entrepreneurs and brands in Indonesia and the rest of southeast Asia.
"We are honored 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 maximize operational efficiency using our SaaS model," said Krishnan Menon, CEO and founder of Lummo.
Lummo's flagship product, LummoSHOP, helps entrepreneurs and brands with analytics and retargeting capabilities to drive repeat orders using their customer's records and purchase history. Other robust features include chat commerce, catalog integration, custom domains and websites, multi-platform management, personalized features for branding, among others. With the multiple platform management feature, entrepreneurs and brands will be able to use the software-as-a-service to manage all their customer orders from multiple shopping platforms, making LummoSHOP the one place from where they can manage all their online commerce operations. The service will also help them create their own official customized website, giving them the power to build their own unique brand and identity, said a statement.
Lummo was founded as BukuKas in 2019 by Krishnan Menon and Lorenzo Peracchione and is backed by marquee investors like Sequoia Capital, Tiger Global, CapitalG, among others.