GudangAda founder and ceo Stevensang GudangAda, a Jakarta-based marketplace that brings wholesalers better to other buyers and retail stores, announced it has actually closed a Series B of more than$100 million. The company states the round was oversubscribed, passing its initial target of$75 million.
The funding was led by Asia Partners and Falcon Edge, with involvement from Sequoia Capital India, Alpha JWC and Wavemaker Partners. This brings GudangAda’s overall raised up until now to about$135 million. Its last financing was a$25.4 million Series A last year, led by Sequoia Capital India and JWC Alpha Ventures.Established in January 2019, GudangAda is now used by half a million
SMEs and covers 500 cities in Indonesia. Prior to raising its Series B, it had already grown to $6 billion in net merchandise value on$35 million of financing. Principal manufacturers and suppliers on the platform variety consist of food products business Sido Muncul, seasoning maker Sasa and British multinational consumer goods group Reckitt Benckiser. Creator and chief executive officer Stevensang invested more than 25 years in Indonesia’s fast-moving durable goods and retail
markets before starting GudangAda. Over the past ten years, Stevensang informed TechCrunch that logistics costs in Indonesia have increased to among the greatest in the world, impacting the entire supply chain, particularly SME purchasers. GudangAda assists lower functional costs by linking principal makers, distributors and sellers, and managing nearly all aspects of B2B buying
, consisting of deliveries. Its mobile app consists of a point-of-sale system and it can likewise be used to manage orders, track logistics and pay. Indonesian logistics startup SiCepat raises$170 million Series B Stevensang stated GudangAda focuses on several things to make buying stock simpler for SMEs. One is enhancing stock turnover to increase working capital for companies on the platform. The business likewise supplies market research
and information for items and gives merchants a big choice of products. Being linked to numerous providers on the same platform also lets small retailers that sell a large choice of products, however don’t have the purchasing volume to order directly from suppliers, to acquire inventory at competitive costs. To keep logistics expenses down, GudangAda partners with third-party automobile and warehouse service providers to construct its protection throughout Indonesia. For its logistics partners, it supplies transportation and storage facility management systems to help them digitize their operations.
GudangAda also partners with banks to provide operating capital for SMEs, enabling them to look for loans using their data on the platform. The financing will be used to expand GudangAda’s product classifications, which now consist of fast-moving durable goods, pharmaceuticals, homeware, stationery and product packaging.
It likewise prepares to develop AI-based tools that can offer tailored suggestions for merchant consumers.
For instance, during COVID-19, the platform suggested just how much disinfectants a store should stock. In a declaration, Falcon Edge co-founder Navroz D. Udwadia said, “GudangAda is definitively the biggest SME e-commerce market in Indonesia with best-in-class metrics. Our research and conversations with stakeholders(principals, wholesalers and sellers )has offered us confidence on GudangAda’s unique ROI
and worth addition to the entire ecosystem. “Ula raises $20 million to broaden its e-commerce marketplace in Indonesia How tech can develop more resilient supply chains