Indonesian direct-to-consumer (D2C) eyewear brand SATURDAYS has raised $6.5 million in fresh funding from new and existing investors, regulatory filings showed.
According to filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA), SATURDAYS secured about $4 million from new investor Openspace Ventures and another $2.3 million from existing investor Altara Ventures.
ACRA filings only reflect the equity funding received so far in a round, and the overall funding round could be larger or have other components such as debt. DealStreetAsia has reached out to SATURDAYS for confirmation.
Founded in 2016 by Suparta and Andrew Kandolha, SATURDAYS sells eyewear at affordable price points through both online channels and brick-and-mortar stores.
Its physical stores resemble cafés, serving specialty coffee and pastries. It currently operates more than 60 stores across 23 cities in Indonesia.
The brand raised an undisclosed amount in venture debt from Genesis Alternative Ventures in 2023 and another undisclosed amount in Series A funding in 2022, led by Altara Ventures, with participation from DSG Consumer Partners.
The company also counts Indonesian VC firms Alpha JWC and Kinesys Group among its early backers.
The funding comes as venture capital funding into Indonesian startups plunged to its lowest level in years in 2025, underscoring a sharp reset in investor appetite since the post-pandemic boom. Investors, however, say the slowdown reflects caution and recalibration rather than a retreat from the market.
According to DealStreetAsia’s DATA VANTAGE, Indonesian startups raised $297 million across 61 equity deals in the first 11 months of 2025, down from $438 million in 2024 and a huge fall from the $9.4 billion notched in 2021. Deal activity has slowed in lockstep, with transaction volume shrinking to less than a third of its peak.
In December, startups in Indonesia only secured $0.5 million from one deal in December, the lowest in the region, DealStreetAsia’s compilation showed.
