EU Business News August 2017

6 EU BUSINESS NEWS / August 2017 NEWS , $27m Investment into Indonesian E-Commerce Start-up Sale Stock Golden Equa- tor Capital, a fund management firm, announced its first investment from its Technology and Innovation Fund II, into Indo- nesian fashion e-commerce start- up Sale Stock. Golden Equator Capital, jointly with Gobi Partners, is leading a $27 million Series B+ round into Sale Stock. Other investors include SMDV, Alpha JWC, Convergence Ven- tures, Korea Investment Partners and MNC Media. According to Sale Stock’s founding CEO Ling- ga Madu, the funding will be used to further strengthen Sale Stock’s position as the market leader in Indonesia and accelerate reach- ing profitability in the near term. Sale Stock, one of the fastest growing e-commerce start-ups in Indonesia, provides imported, local and in-house fashion labels for women. Sale Stock’s vision is to bridge the online shopping gap by providing affordable clothing to low-to-middle income earners in Indonesia. The company current- ly carries over 15,000 stock keep- ing units (SKUs) and receives thousands of orders daily, making it the largest fashion-related ver- tical commerce in Indonesia in terms of daily orders. Sale Stock’s proprietary mer- chandising technology, concep- tualised by President Jeffrey Yu- wono and built by the company’s world class engineering team, is powered by artificial intelligence (AI) and leverages over 1,300 data points captured during the consumer purchasing process to make inventory decisions. On the front end its AI chatbot is in- tegrated with social messaging channels such as Facebook Mes- senger, WhatsApp, and Blackber- ry Messenger to handle customer enquiries, take sales orders, and complete purchases. Sale Stock was the first company in the world to integrate with all four leading Golden Equator Capital, a fund management firm, announced its first investment from its Technology and Innovation Fund II, into Indonesian fashion e-commerce start up Sale Stock