Indonesian beauty platform Social Bella, known by its Sociolla e-commerce brand, has raised $40 million in its Series D investment round.
Co-led by Singapore’s Temasek Holdings and venture capital fund EV Growth, the round also saw participation from new backers, EDB Investments, Pavilion Capital and Jungle Ventures.
Social Bella intends to allocate the new funds towards expanding its business reach in the country, via improved technology.
In May 2018, the startup had raised $12 million in a Series C financing round from EV Growth, a fund managed by East Ventures, and others.