Indonesia's micro-retail startup Warung Pintar announced the acquisition of supply chain platform Bizzy Digital for USD 45M.
This deal brings together Warung Pintar’s front-end retail digitalisation capabilities and Bizzy’s supply chain strengths in FMCG.
RateS, a social commerce platform operating in Indonesia, announced today it has closed an undisclosed amount in Series A round, co-led by Vertex Ventures and Genesis Alternative Ventures.
The fresh capital will go towards bankrolling RateS’s expansion into tier 2 and 3 markets in Indonesia by expanding the “density” of its reseller membership network, which the company claims to have surpassed half a million.
We set down with Nitin Chhabra, Founder of Ace Turtle, about his entrepreneurial journey and the challenges faced during the pandemic.
In Indonesia, there are more than 2.5 million warungs (micro-businesses and kiosks that sell basic products) that account for more than 80% of total retail sales. However, these warungs are typically mom-and-pop owned and highly fragmented in both demand and supply.
Launched in 2017, Warung Pintar aims to empower warungs through digitalization. With its focus on e-commerce services and supply chain, the company has reduced warung transaction costs by 28% on average.
Startup founders often agree that the process of building something new and novel to serve a significant, unmet need can be immensely rewarding, even if it may not succeed at times.
Being prepared means gaining a thorough understanding of all aspects of the startup journey – even if that involves confronting some hard truths before taking that first step. This may make all the difference between success and failure.
The COVID-19 pandemic has taken a toll on many businesses but some Singapore firms continue to survive - and even thrive. In the last of a four-part series, The Straits Times looks at local enterprises that have seized opportunities to grow amid the economic downturn.