Bukalapak, CT Corp e-grocery business set to launch with $69m capital

AlloFresh, an Indonesia-based e-grocery startup, will launch with 1 trillion rupiah (around US$69.7 million) from Bukalapak, Growtheum Capital Partners, and Trans Retail Indonesia – a local offline retailer owned by conglomerate CT Corp Group.

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Announced earlier this year, AlloFresh will allow customers to buy more than 150,000 products from 10,000 suppliers that can be delivered in three hours. It will also offer 30-minute delivery options to compete with the rising number of quick commerce startups in the country.

In a statement, the company said that customers can order via its app, website, or the “Click & Go” feature in Trans Retail Indonesia’s store.

AlloFresh was established as a joint venture between its investors. According to a report from DealStreetAsia, Bukalapak currently has a 35% stake in the company, while Growtheum Capital has 10% after pouring in US$20 million.

With the fundraise, Olivier Legrand, a transaction advisory member of Growtheum Capital Partners, will act as an independent commissioner at AlloFresh.

See also: Indonesia e-grocery battle escalates as more players enter the fray

According to Bukalapak chief executive Willix Halim, the collaboration will allow the Indonesian unicorn to reach more customers. “This initiative will also expand Bukalapak’s reach into the retail ecosystem as part of the company’s expansion from general to specialty platforms,” he added.

Currency converted from Indonesian rupiah to US dollar: US$1 = 14,343 rupiah