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 whole raised to this point 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 government 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 advised TechCrunch that logistics prices in Indonesia have elevated to among the many highest on the planet, 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 features of B2B shopping for, together with deliveries. Its cell app features a point-of-sale system and it will also be used to handle orders, observe logistics and make funds.
Stevensang stated 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 offers market analysis and information for merchandise and provides retailers a big number of items. Being related to a number of suppliers on the identical platform additionally lets small retail shops that promote a big number of gadgets, 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 offers 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 will likely be used to develop GudangAda’s product classes, which now embody fast-moving client items, prescribed drugs, packaging, homeware and stationery. It additionally plans to develop AI-based instruments that may present personalised suggestions for service provider prospects. For instance, throughout COVID-19, the platform urged how a lot disinfectants a retailer ought to inventory.
In a press release, Falcon Edge co-founder Navroz D. Udwadia stated, “GudangAda is definitively the biggest 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 the complete ecosystem.”