Startup Brand Aggregator Tjufoo Announces Initial Funding from TNB Aura
Startup brand aggregator Tjufoo today (13/7) announced the achievement of initial stage funding with an undisclosed nominal from TNB Aura, a VC from Singapore. Tjufoo will use this fresh capital to accelerate his business through the development of direct-to-consumer (D2C) brands in the country.
Tjuffo focuses on offline authentic Indonesian brands, provides key growth capital, and provides an outstanding team led by co-founders, TJ and Aldrian Foo, that set them apart from the rest.
“We hope to support the digitization of the next wave of MSMEs in Indonesia,” said TNB Founding Partner Aura Vicknesh R Pillay in an official statement.
Since its establishment at the beginning of this year, Tjufoo is here to support Indonesia’s overall and sustainable progress, from the economic, social and environmental aspects, by providing access within the Tjufoo ecosystem according to brand needs.
This includes distribution channels, research, funding and analytics platforms, to optimization of infrastructure and supply chains. The company also works closely with brand owners to provide various exit strategy options and make money from these strategies.
Tjufoo also connects brands with experts and experienced figures from various well-known companies in Indonesia who can provide strategic input to cooperation opportunities to grow together.
“We are also committed to creating a more inclusive industry that supports women’s empowerment in the business world,” said Tjufoo Co-founder and CEO TJ Tham. So far, the local companies that have been assisted by Tjufoo are quite diverse. They are ACMIC, Granova, Cypruz, and Dew It.
The entire brand is claimed to have doubled in less than a year, increased online sales 4x in less than a quarter, added more than 1,000 new sales points, and opened access to more than 5 million new users.
TJ said that this year the company targets to acquire more potential brands, both from within and outside the country.
For D2C brands from abroad who want to expand into the country, Tjufoo will be a partner who not only provides investment, but also comprehensive expertise in business strategies, from acquisitions, human resource management, until the brand launches in Indonesia.
Initiation to Support Women’s Empowerment
On the same occasion, TJ also announced a collaboration with Stellar Women, a community-based platform for, by, and for women to reach their personal and professional potential.
This collaboration is called AKSI Perempuan (Women’s Business Acceleration), an incubation program for women-initiated businesses. Program participants will attend training for 3-6 months from experienced practitioners.
At the end of the program, up to 10 businesses will be selected which will receive further assistance from Tjufoo to take their business to a higher level.
The company understands that women face many obstacles in running a business. In addition to capital, women are also faced with roles in the family, stigma, social pressure, and the lack of access to the information and networks needed.
“We hope this initiative can inspire many women to be bolder in starting a business,” added Stellar Women Co-founder and CEO Samira Shihab who is also Tinkerlust Co-founder and CEO.
Support SMEs Upgrading
A startup brand aggregator that carries the concept of the House of Brands, Tjufoo, is here in Indonesia with a commitment to increase the level of Indonesian MSMEs.
One of them is accelerating the growth of MSMEs by acquiring local brands in the Direct to Consumer category or selling without intermediaries. It is noted that until the end of 2021, Tjufoo has improved the performance of brands that have joined its digital ecosystem.
The company supports brands to strengthen the important elements in the business, such as marketing and operations with the support of experienced team.
The supports MSMEs to build infrastructure to strengthen brand building and intensify their digital optimization in terms of marketing. In this way, brands are expected to be able to be closer to consumers for larger business goals.