Tin Men Capital joins $8m round of Indonesia’s Manuva

The Manuva team / Photo credit: Manuva

Manuva, a supply chain platform for SME manufacturers in Indonesia, has raised US$8 million in a new funding round.

Tin Men Capital invested US$3 million in the round, marking the Singapore-based VC firm’s second investment from its second fund – which completed its first close in September 2022.

Manuva will use the new funds to add biodegradable packaging to its product line as well as to expand its distribution network in Java, Bali, and Sumatra.

Funding details

• Funding amount: $8,000,000
• Investors: Tin Men Capital, others
• Stage: Undisclosed

Founded in 2018, Manuva – previously known as Tjetak – enhances the efficiency, scale, and quality control of packaging procurement for consumer brands and other trade buyers from SME manufacturers. It offers packaging solutions including cardboard, snack boxes, paper bags, and plastic cups.

The firm works with over 100 manufacturing partners, producing over 300 packaging stock-keeping units across six brands that serve over 7,000 retailers and 100 enterprise customers.

“Bringing efficiency to the vast packaging industry means that Manuva contributes to substantial reductions in wastage across the value chain,” said Tin Men Capital co-founder Murli Ravi.

In addition to providing capital investment, the VC firm is offering strategic advisory services to Manuva.

See also: The key ecommerce logistics players and enablers in SEA (update)

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