8wood, a fashion ecommerce site for women in Indonesia, announced today that it raised an undisclosed amount of seed funding from local venture capital firm Ideosource. The startup will use the newly-acquired capital for recruitment, marketing, and product development.
“We are looking for investors that are able to give mentorship as well as partners to exchange thoughts and views. We believe that Ideosource is the perfect partner and we are happy to be joining forces with them,” says Alvin Yodhapatria, co-founder and CEO of 8wood.
Yodhapatria started 8wood, which works on a a business-to-consumer model, in late 2013 with his wife, Alice Norin. Prior to building the site, Yodhapatria was a DJ and an event organizer. Norin, on the other hand, is an Indonesian actress, having appeared in several films and television shows. According to 8wood, the pair built 8wood to serve a young, dynamic, and independent demographic of women in Indonesia.