Du’Anyam Receives Investment from Northstar Foundation
Du’Anyam, Indonesia’s first social enterprise focusing on wicker crafts, is pleased to announce that it has received an investment from the Northstar Foundation.
Du’Anyam produces and distributes wicker crafts to empower women, promote culture, and improve maternal and child health in rural Indonesia. The company provides quality and design improvement training for weavers and connects their existing skills and resources to both domestic and international markets. Working with Du’Anyam, the women receive up to a 40% increase in their income. Du’Anyam also partners with local health workers, non-profit organizations, and Corporate Social Responsibility programs to enhance impact on nutrition improvement and education programs for children of the weavers.
Du’Anyam was founded in 2014 by Azalea Ayuningtyas, Yohanna Keraf, and Melia Winata. Today, Du’Anyam works with more than 450 weavers across 17 villages in East Flores, NTT and supplies over 24,000 wicker products per year to hotels and corporations in Indonesia. Although most of its business is wholesale, Du’Anyam’s products are also available for purchase at various retail locations throughout Indonesia, including Alun Alun Grand Indonesia and Bika Plaza Indonesia. Du’Anyam has been selected as the official handicraft merchandiser for ASIAN GAMES 2018.
Du’Anyam is excited to announce that it has received an investment from Northstar Foundation. The company plans to use the funding to scale its business through product design and capacity improvement while expanding its social impact to women in other rural areas of Indonesia. In 2016, Du’Anyam received seed funding from Ibu Mariko Asmara, a member of ANGIN’s angel investor network.
“Partnering with the Northstar Foundation will facilitate significant growth of our social enterprise business. We see vast opportunities to enter new markets and form collaborations to deliver further impact for our weavers,” said Azalea Ayuningtyas, CEO and Co-Founder of Du’Anyam
“The Northstar Foundation is very pleased to support Du’Anyam in the expansion of their business and the improvements that they are bringing to the lives of their weavers. We are committed to having a significant impact on local communities. The commitment of the Du’Anyam founders is inspiring and a great fit for our impact mission. We look forward to working with Du’Anyam to achieve even greater success going forward.” Rani Sofjan, Co-Chair Northstar Impact Committee, said.
“We are very proud to see the progress that Du’Anyam’s team has made since we started working with them. They have demonstrated strong focus and the ability to increase their impact while always striving to scale and expand their operations. Having the Northstar Foundation as an investor in Du’Anyam gives us confidence that the company will receive even more strategic support to expand further. It is also seen as a strong validation of both the commercial and impact aspects of Du-Anyam’s business model,” said David Soukhasing, Director of ANGIN.
About the Northstar Foundation
The Northstar Foundation is the community impact vehicle of the Northstar Group, a US$2 billion private equity firm based in Singapore, dedicated to investing in growth companies in Indonesia and South East Asia. The Northstar Group has a team of over 50 professionals that bring together significant international experience, deep local market insight, and sensitivity to local conventions and conditions.
ANGIN (Angel Investment Network Indonesia) is Indonesia’s largest angel investor network with more than 60 angel investors on board. ANGIN has dedicated team to support entrepreneurs on their fundraising journey by equipping them with the right assets, connecting them with minded investors, to ensure entrepreneurs get the right resources at the right terms in order to expand their operations and impact. Today, ANGIN has closed 33 investments.