Xavier Kong · · 1 min readEast Ventures leads $4.5m in Indonesian cold chain startup
Fresh Factory, an Indonesia-based cold chain fulfillment startup, has secured seed funding of US$4.5 million in a round led by East Ventures.
Fresh Factory co-founders (from left) Widijastoro Nugroho, Andre Septiano, and Larry Ridwan / Photo credit: Fresh Factory
Fresh Factory runs a network of hyperlocal cold chain fulfillment centers. It currently has more than 20 warehouses across Java, Sumatra, Sulawesi, and Bali.
The funds raised will go toward expanding warehouses to smaller cities in Java and the most important cities of Sumatra and Sulawesi. A part of the amount raised will also be invested in hiring talent and improving technology, said the startup.
Fresh Factory co-founder and CEO Larry Ridwan said the fund will accelerate the startup’s mission of supporting firms in Indonesia, especially SMEs, in driving growth and scaling their businesses.
Other investors in the round include:
- PT Saratoga Investama Sedaya TBK
- Trihill Capital
- Indogen Capital
- Prasetya Dwidarma
- Number Capital
- Y Combinator
See also: Indonesia’s social commerce startups double down on rural FMCG space
Editing by Samreen Ahmad
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