Indonesian direct-to-consumer (D2C) eyewear brand Saturdays has raised a Series A funding round led by Altara Ventures, DealStreetAsia has learnt. DSG Consumer Partners and other affiliates joined the round.
The company declined to comment on the size of the round but said it has secured equity financing.
In February last year, Saturdays had raised an undisclosed seed round co-led by local VC firms Alpha JWC and Kinesys Group, and joined by Alto Partners.
Saturdays plans to utilise the fresh capital to enhance the tech capability of its mobile app, increase product offerings, and add more collaborations with local and international brands. “These are three main areas that we’ll focus on. We want to invest more in the technology side and upgrade features on our app. We’ll also continuously add more product stock-keeping-units (SKUs) and brand partnerships,” Saturdays co-founder Andrew Kandolha told DealstreetAsia in an interview.
The startup currently collaborates with Marvel to create a superhero-themed glasses collection that includes designs inspired by Iron Man, Black Widow, and Captain America. “We’re doing a lot of collaboration like this which encourages customers to own more than one pair because glasses aren’t only for function, but also for fashion,” he said.
Founded in 2016 by Kandolha and co-founder Rama Suparta, Saturdays utilises a tech-enabled omnichannel strategy where it sells eyewear products through a mobile app and website, in addition to brick-and-mortar outlets. The firm currently has 15 outlets in Greater Jakarta -eight of which were opened in the last three months- and it plans to expand into several new cities across Indonesia this year.
