Baskit raises $3.3m amid tough B2B ecommerce landscape

Baskit founder Yann Schuermans / Photo credit: Baskit

Fragmented networks, challenging topography, and a heavy reliance on intermediaries have created significant hurdles for wholesalers and distributors in Southeast Asia, Baskit founder Yann Schuermans told Tech in Asia.

This fragmentation makes it difficult for businesses to establish seamless end-to-end supply chain operations across borders, leading to delays, increased costs, and inefficiencies.

Launched in 2022, Baskit is a B2B ecommerce startup that wants to tackle these challenges, starting in Indonesia.

It has just raised another US$3.3 million in a seed round led by Betatron Venture Group. Forge Ventures, 1982 Ventures, Orvel Ventures, Investible, and DS/X Ventures also participated, along with angel investors such as Michael Sampoerna. This follows the US$1.5 million pre-seed round that Baskit announced in March.

While the company currently operates largely in the West Java region, it plans to expand into Greater Jakarta.

Money in the supply chain game

Baskit doesn’t vilify intermediaries that act as margin-grabbers – instead, it looks at them as ones that play a vital part of the supply chain infrastructure, Schuermans said.

The company partners with wholesalers and distributors, primarily in the fast-moving consumer goods sector.

Baskit connects these partners with new stores and untapped coverage areas, helping them reach a broader customer base and drive incremental sales. In turn, Baskit takes a cut of the sales generated through its platform.

The startup also offers software that helps wholesalers and distributors handle inventory management, order processing, sales analytics, and communication. This allows Baskit to collect and monetize data on transactions, sales patterns, and customer behavior.

Photo credit: Baskit

Baskit aims to hit profitability by the second half of next year. It also expects “healthy” gross profit margins comparable to other software-as-a-service businesses, Schuermans said.

The B2B ecommerce space has seen players still grapple with operational issues  despite raising significant funding. Some examples are Khatabook in India and Lummo in Indonesia.