GudangAda, an online B2B marketplace for fast-moving consumer goods (FMCG) based in Jakarta, announced that it raised a USD 25.4 million Series A (bringing total fundraising to date to USD 36 million) led by Sequoia and Alpha JWC, with existing investor Wavemaker Partners also joining in. The company issued a statement saying that the investment will be used to enhance its platform, launch new initiatives, and strengthen the team.
GudangAda’s platform was launched in 2018 to connect small retailers with wholesalers in Indonesia. The company could benefit from the limitation on physical interactions due to the COVID-19 pandemic, which could push wholesalers and retailers to adopt digital solutions faster. Furthermore, the startup announced that it had partnered with the Indonesian government to distribute assistance to remote and secluded areas by leveraging its nationwide reach within the nation’s FMCG supply chain. It also launched food donation programs across the country for underprivileged local citizens.
GudangAda is well-positioned to benefit from the needed digitalization of the FMCG supply chain in a country known for challenging logistics. The startup claims to currently have a full market coverage of FMCG wholesalers in Indonesia, and is aiming at 7% to 10% of the nation’s large retailer base for its next phase of growth.
(Source: e27)
