GudangAda, a Jakarta-based market that brings wholesalers nearer to retail shops and different patrons, introduced it has closed a Collection B of greater than $100 million. The corporate says the spherical was oversubscribed, passing its preliminary goal of $75 million. The funding was led by Asia Companions and Falcon Edge, with participation from Sequoia Capital India, Alpha JWC and Wavemaker Companions.
This brings GudangAda’s complete raised thus far to about $135 million. Its final funding was a $25.4 million Series A last year, led by Sequoia Capital India and JWC Alpha Ventures.
Based in January 2019, GudangAda is now utilized by half one million SMEs and covers 500 cities in Indonesia. Earlier than elevating its Collection B, it had already grown to $6 billion in internet merchandise worth on $35 million of funding. Principal producers and distributors on the platform vary embody meals merchandise firm Sido Muncul, seasoning maker Sasa and British multinational client items group Reckitt Benckiser.
Founder and chief govt officer Stevensang spent greater than 25 years in Indonesia’s fast-moving client items and retail industries earlier than beginning GudangAda. Over the previous 10 years, Stevensang instructed TechCrunch that logistics prices in Indonesia have elevated to among the many highest on the earth, impacting the entire provide chain, particularly SME patrons.
GudangAda helps decrease operational prices by connecting principal producers, distributors and retailers, and dealing with virtually all points of B2B shopping for, together with deliveries. Its cellular app features a point-of-sale system and it can be used to handle orders, monitor logistics and make funds.
Stevensang mentioned GudangAda focuses on a number of issues to make shopping for stock simpler for SMEs. One is optimizing stock turnover to extend working capital for companies on the platform. The corporate additionally supplies market analysis and information for merchandise and offers retailers a big collection of items. Being linked to a number of suppliers on the identical platform additionally lets small retail shops that promote a big collection of objects, however don’t have the shopping for quantity to order immediately from distributors, to buy stock at aggressive prices.
To maintain logistics prices down, GudangAda companions with third-party automobile and warehouse suppliers to construct its protection all through Indonesia. For its logistics companions, it supplies transportation and warehouse administration methods to assist them digitize their operations.
GudangAda additionally companions with banks to supply working capital for SMEs, enabling them to use for loans utilizing their information on the platform.
The funding shall be used to broaden GudangAda’s product classes, which now embody fast-moving client items, prescription drugs, packaging, homeware and stationery. It additionally plans to develop AI-based instruments that may present personalised suggestions for service provider clients. For instance, throughout COVID-19, the platform instructed how a lot disinfectants a retailer ought to inventory.
In a press release, Falcon Edge co-founder Navroz D. Udwadia mentioned, “GudangAda is definitively the most important SME e-commerce market in Indonesia with best-in-class metrics. Our analysis and conversations with stakeholders (principals, wholesalers and retailers) has given us confidence on GudangAda’s distinctive ROI and worth addition to all the ecosystem.”
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