East Ventures on Instagram: "Desty, an Indonesia-based social commerce startup, announced that it has secured US$3.2 million in pre-series A funding round. The investment was led by 5Y Capital (formerly known as Morningside Venture Capital), with the participation from Fosun RZ, East Ventures, who was also Desty's seed round investor, January Capital, and InCapital. Desty's team will utilize the new funding for team expansion and user acquisition. The company's main goal is to make sure the online merchants and users in the ecosystem can grow their business efficiently. “Since our investment late last year, Desty has been paving the way for merchants, influencers, and creators to go online. As a result of the pandemic accelerating the shift to go online, there is a consistent stronger use case for Desty and where they fit into the market. We are confident that Desty, backed by a team of experienced founders, will continue to create impact and provide value for the millions of Indonesian online sellers,” said Willson Cuaca, Co-Founder and Managing Partner of East Ventures. Read more: bit.ly/EV-Desty-PreSeriesA"