Advotics, an Indonesia-based SaaS startup specialising in supply chain solutions, announced today it has bagged US$2.75 million in a new funding round led by East Ventures.
The company said it will utilise the fresh funds to extend its commercial footprint in the SME market by expanding its sales team.
Founded in 2016 by Boris Sanjaya, Hendi Chandi, and Jeffry Tani, Advotics provides end-to-end integrated supply chain solutions to a variety of clients ranging from SMEs to international companies. The company noted its clientele base includes Exxonmobil, Sampoerna, and Danone, among others.
Advotics currently has nine SaaS products that provide solutions across production, warehousing, and distribution. Utilising QR codes printed on the product packaging, Advotics helps brands to track inventory at every point along the distribution line, including information on sales forces activities and empty stock.
The company also expanded its system by including solutions for inventory, routing, and collection.
“There are millions of manufacturing and distribution companies operating in Indonesia. We believe that the US$3 billion enterprise software market in Indonesia will keep growing as more and more of these companies join the digital transformation,” said Boris Sanjaya, CEO and Co-Founder of Advotics.
“We are able to help principals and brands track inventory every step of the way up to the end of their supply chain, be it modern retailers, micro merchants (warung), or individual resellers. Advotics is also able to solve deep-rooted supply chain problems that most companies face in their warehouse operations, delivery routing efficiency, and sales team dispatch with advanced technology,” opined Jeffry Tani, CPO and Co-Founder of Advotics.
“Advotics team has not only persevered during the pandemic but has emerged stronger. We are confident that the funding will accelerate Advotics to achieve its mission to digitise Indonesia’s distribution and supply chain ecosystem,” said Willson Cuaca, Co-founder and Managing Partner of East Ventures.
Advotics recently released a whitepaper titled ‘Key Distribution Challenges in Indonesia’, which shared insights regarding how technology can help companies overcome pre-existing challenges in Indonesia’s supply chain. The report stated that Indonesia’s complex and multilayered supply chain is critical in ensuring economies of scale & efficiency in a diverse market with more than 270 million in population.
Despite initial challenges, supply chain and logistics are some of the sectors that are experiencing a surge of popularity during the COVID-19 pandemic as the lockdown measures implemented in many countries pushed demand for e-commerce services. In a report, Nikkei Asia detailed that the sector was among the top three that has gained significant funding in 2020.
Image Credit: Advotics
The post [Updated] Advotics raises US$2.75M led by East Ventures to expand its supply chain solutions for Indonesian SMEs appeared first on e27.