8WOOD announced an undisclosed seed funding it has just snapped from Ideosource. The funding will go into the startup’s recruitment, marketing, and product development. 8WOOD was established by Alvin Yodhapatria (DJ and event organizer) and Alice Norin (actress) in 2013.
The startup focuses on female fashion and acts as a direct competitor to PinkEmma, BerryBenka, and Zalora. Unlike any other e-commerce players which have adopted various payment methods, 8WOOD so far only relies on bank transfer and PayPal (for payment using US$).
As being stated in its press release, 8WOOD focuses on three things, which are stunning images, 24 hours consumer service, and innovative social media existence. Regarding the latter, 8WOOD has done its best in displaying its products on its Instagram which has been followed by 120,000 users.
8WOOD’s Co-Founder and CCO Alice Norin stated, “At 8WOOD, we don’t only sell fashion products, but also inspire dynamic young women and get inspired by them. This is our mutual relationship. We want to give our best to the customers and will do anything to get everyone satisfied.”
Ideosource’s Managing Partner Andi S. Boediman added, “Alvin Yodhapatria is a proven entrepreneur with the ability to start a company from zero. He can run the operational activities flawlessly to satisfy his customers. Meanwhile, Alice Norin contributes by providing creative direction and deep understanding, thus enabling 8WOOD to contorl the local market and differentiate the startup from any other e-commerce players.”
Alvin Yodhapatria’s 8WOOD’s Co-Founder and CEO, commented, “We looked for investor who can act as a mentor as well as partner to whom we can share our thoughts and perspective with. We are certain that Ideosource is the perfect solution and we are glad to collaborate with them.”
Currently, 8WOOD processes 100 orders in a day without any marketing expenses, and the team expect to raise the revenue up to 10 times bigger by these two years. “We believe that the e-commerce market in Indonesia is really huge and has a remarkable growth potential, especially in female fashion sector,” Yodhapatria ended.
