E-grocery firm Sayurbox bags $120m from Northstar, Alpha JWC

Indonesia-based Sayurbox, an e-grocery startup, has raised US$120 million in a series C funding round led by Northstar and Alpha JWC Ventures, with participation from the World Bank’s International Finance Corporation.

(From left) Sayurbox founders Amanda Susanti, Rama Notowidigdo, and Metha Trisnawati / Photo credit: Sayurbox

Sayurbox is a farm-to-table distribution platform for fresh produce. Its name comes from the Indonesian word “sayur,” which means “vegetables.” The startup offers more than 5,000 products including vegetables, meat, poultry, snacks, and ready-to-eat dishes.

The company was established in 2017 by Amanda Susanti, a fellow at the Alibaba eFounders Fellowship program; Metha Trisnawati, who previously worked at Unilever and IBM; and Rama Notowidigdo, who was a former executive at Gojek. Last year, it raised US$15 million in a series B funding round led by Gojek-backed Astra.

In a statement, Sayurbox said that it currently serves around 1 million customers in the Greater Jakarta, Surabaya, and Bali areas, while working with more than 10,000 farmers nationwide. It has also built a network of microfulfillment hubs to support its quick commerce service Sayurkilat.

The e-grocery firm plans to use the new funding to accelerate growth in existing markets, expand to new cities, and strengthen its supply chain.

See also: The key players in Indonesia’s promising agritech space

Other investors in this round include:

• Astra
• Syngenta Group Ventures
• Global Brain