Jakarta-based FMCG marketplace GudangAda banks double-digit millions

GudangAda, an Indonesian firm that operates a business-to-business marketplace for fast-moving consumer goods (FMCG), said it has raised “double-digit million funding” in a round led by Alpha JWC Ventures and Wavemaker Partners.

Singapore private equity fund Pavilion Capital also participated in the fundraise, according to a statement. Though the exact figure was not disclosed, Alpha JWC Ventures managing partner Chandra Tjan believes that the investment is “the largest amount” raised from a seed round in the country.

Photo credit: Pixabay

GudangAda operates a platform for all traders in the FMCG supply chain to communicate and make transactions online. It connects various kinds of traders, ranging from principals and distributors to small retailers such as mom and pop stores.

Its marketplace currently offers tens of thousands of stock keeping units ranging from food and beverage, personal care, and cosmetics products to cigarettes. GudangAda said it’s also broadening its product selection every week as new partners come on board.

The fresh funds will be used to bankroll the startup’s expansion efforts, which includes expediting member onboarding, adding more services and solutions, and strengthening its leadership team. GudangAda is also looking to broaden its member coverage across the FMCG value chain and integrate deeper into its supply chain networks this year.

Founded in 2018, GudangAda aims to empower the entire FMCG supply chain ecosystem by bridging the technology gap, looking to capitalize on Indonesia’s US$50 billion FMCG market.

“It’s a tough industry to break into. Many similar tech players have tried yet many have failed or are struggling now,” said GudangAda founder Stevensang. “We built our business based on our experience and deep understanding of the industry,” he added.

Within a year of its inception, GudangAda said it has onboarded thousands of members onto its platform, covered 500 cities in all of Indonesia’s major islands, and completed hundreds of thousands of transactions.