Jeff Bezos Invests in Indonesian based start-up Lummo

Lummo, an Indonesian-based start-up that provides software as a service company (Saas), has secured US$ 80 million in Series C funding. The funding comes from Amazon founder Jeff Bezos. It is Bezos’s second investment in Indonesia. Bezos’s personal investment firm- Bezos Expedition, invested in the firm. Previously, Bezos invested in B2B marketplace, Ula. Lummo earlier raised the amount from Tiger Global and Sequoia Capital India.

Formerly known as BukuKas, the company had operations in Jakarta and Bangalore. Lummo is a D2C, Saas firm that helps small businesses to get online.

The Purpose of Funding-

The purpose of funding is to expand its operations in the Southeast Asian regions. Thus, the investment in the workforce is to go up by three times.
Lummo also wants to strengthen its product offerings via technological innovations. They include chat commerce, custom domain and websites, and personalized branding features.

What the founder has to say-

“We are honoured to have Jeff Bezos’ support in this Series C investment round as we prime our business for exponential growth over the coming months and years. The investment will strengthen Lummo’s efforts to further build on our direct-to-consumer product offerings and deliver greater value to entrepreneurs and businesses in Indonesia. We hope to accelerate their business growth and maximize operational efficiency using our SaaS model,”- says Krishnan Menon, CEO and Founder of Lummo.
He also emphasized the rapid growth of Southeast Asian internet sectors. “Backing of this scale underlines our belief that Indonesia and Southeast Asia are emerging as the next great destinations for tech investment,” said Menon.
Lorenzo Peracchione, Lummo’s co-founder, is delighted to have Jeff Bezos on board.  
“Jeff Bezos is someone who is obsessed with the customer experience, making customers happy and building a long-term business. And this is what we want to achieve with Lummo Shop; we give merchants tools to get closer to their customers.” – Lorenzo Peracchione.

About Lummo

Lummo provides software services for businesses and SMEs. Krishnan Menon and Lorenzo Peracchion brought the company into existence in 2019. The firm’s former name was BukuKas. Previously, it served as a book-keeping app for small businesses and enterprises.
There on, it launched Tokko, an e-commerce enabler solution. However, LummoSHOP later replaced Tokko and is now the flagship product for the firm. It caters to the analytics and retargeting needs using a customer’s purchase history. It also includes features like chat commerce, custom domains and websites, etc. Hence, LummoSHOP is a one-stop solution for all e-commerce platforms.

Lummo gets its competitive edge by enabling the D2C approach. The D2C system unleashes the true potential of SMEs. It provides optimum solutions to solve the real-time problems of the entrepreneur. Lummo aims to pave the way for business growth and development.

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