East Ventures leads $3.3m round of Indonesian e-groceries platform

Pasarnow, an Indonesia-based e-groceries platform, announced that it has raised US$3.3 million in seed funding led by East Ventures. SMDV, Skystar Capital, Amand Ventures, and Prasetia Dwidharma also participated in this round.

Pasarnow founders (from left) Cindy Ozzie, James Rijanto, and Donald Wono / Photo credit: Pasarnow

Founded by James Rijanto, Donald Wono, and Cindy Ozzie in 2019, Pasarnow offers fresh groceries and farm products to both individual and business customers. The company has partnered with more than 1,000 farmers and suppliers for its online marketplace.

Pasarnow currently operates in Greater Jakarta and Bandung in Indonesia, with over 100 full-time employees and 200 daily workers and driver partners. The startup said that its revenue has doubled every month.

Indonesia has the largest grocery retail industry in Southeast Asia, reaching US$115 billion in sales in 2019. However, 82% of transactions in the country are still attributed to traditional grocery retailers. According to consulting firm RedSeer, while online grocery sales only amounted to US$1.2 billion in 2019, it is projected to reach US$13 billion by 2025.

Pasarnow plans to use the fresh funds to expand to new cities, hire more employees, and enhance its data and technology infrastructure. The startup is also looking to develop microwarehouses to increase its service range, which is currently powered by 10 hubs.