Indonesian new retail startup Warung Pintar has raised an IDR87 billion (US$6 million) in Series B funding round, according to sources. The funding round is led by existing investors East Ventures with the participation of Vertex Ventures.
DailySocial has reached out to relevant parties but has not received any response until this story is published.
This funding round is expected to bring Warung Pintar’s valuation to US$169 million. It followed up a Series A funding round that the company has secured in 2019.
Apart from the two venture capital firms, Warung Pintar also counted EV Growth, Agaeti Venture (now AC Ventures), LINE Ventures, SMDV, Pavilion Capital, Triputra Group, Digital Garage, OVO Fund, and a number of angel investors as their backers.
In an interview with DailySocial in May, Warung Pintar Co-Founder & CEO Agung Bezharie said that the company’s mission is to provide a holistic, end-to-end solution for the warung (mom-and-pop stores) ecosystem. This includes solutions for warung owners, bulk sellers, small- to medium-sized distributors as well as brand owners.
“We digitalise and integrate every stakeholder with our supply chain system to create greater transparency and efficacy,” he said.
Earlier this year, Warung Pintar also announced an acquisition of Bizzy for US$45 million. Despite continuing operations as two separate business entities, the acquisition enabled Warung Pintar to get access to new channels in Bizzy’s network which includes bulk sellers, distributors, and brands/manufacturers.
Bizzy is already well-known as a B2B e-commerce platform that provides tech-based procurement services.
Improving the supply chain is part of the evolution of Warung Pintar’s business model. Through Grosir Pintar app, they provide an inventory and logistics management solution for the bulk sellers, making it easier to connect with the warung in its network.
The article Warung Pintar Dikabarkan Raih Pendanaan Seri B 87 Miliar Rupiah was written in Bahasa Indonesia by Randi Eka Yonida for DailySocial. English translation and editing by e27.
Image Credit: Warung Pintar
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