Ecommerce Aggregator Forest Secures US $ 8 Million Seed Funding

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Japanese e-commerce aggregation start-up Forest Inc. has reportedly raised $ 8 million in a funding round led by Nordstar Partners and The University of Tokyo Edge Capital Partners (UTED).

The company intends to use the new funds to acquire around 300 Japanese e-commerce brands, sources cited with relevant information. He further plans to apply effective digital marketing strategies, support the expansion of e-commerce across borders and optimize sales as well as improve inventory planning using advanced data analytics.

For those who don’t know, Forest was founded in July 2021 by Masa Mishizawa (COO) and Shingo Yuhara (CEO) to identify sustainable, high-quality brands and products and help them grow and enter the market. global with the power of technology.

Yuhara said the company is currently finalizing its first acquisition and will continue to research brands with sales between $ 1 billion and $ 5 billion. Forest will only target brands generating more than US $ 10 billion in sales starting next year.

The ecommerce aggregator also hopes to pocket nearly $ 20 million to $ 30 million in equity and debt capital from Series A by early 2022, Yuhara added.

Hiroyuki Samato, partner at UTEC, said this was the company’s biggest initial investment in the IT industry. UTEC looks forward to working with these eligible and experienced founders who took advantage of this attractive market opportunity, Somato said.

In particular, the Japanese startup is ready to compete with other companies like Una Brands, Rainforest and Thrasio in the global market. However, the company revealed that at the moment it is only focusing on the domestic market and therefore does not view Rainforest and Thrasio as its pure competition.

Source credits-

https://techcrunch.com/2021/11/24/forest-bags-8m-seed-round-to-acquire-japanese-e-commerce-brands/


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