Miguel Cordon · · 1 min readID social ecommerce firm Avana struggles to pay staff
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Avana, a Gobi-backed social ecommerce startup, is struggling to pay its Indonesia staff due to capital crunch, according to an internal memo Tech in Asia has seen.
The startup has gone through multiple job cuts since November 2022, affecting 30 members of the Indonesia team, a source familiar with the situation also told Tech in Asia.
The source said that Avana had around 40 employees in the country before the job cuts.
Founded in 2016, the firm helps businesses automate transaction processes on social media and instant messaging platforms. In August last year, it announced the death of its co-founder and CEO Luqman Adris.
Avana has secured a total of around US$3 million in early-stage funding rounds backed by Gobi Partners, Axiata, TH Capital, and Cradle Seed Ventures.
Tech in Asia understands that the remaining employees and some laid-off ones are still waiting for their paychecks since February. We have reached out to the company for official comments.
In 2021, Avana was reportedly in the market to raise a US$15 million series A round to grow its Indonesia operations and expand into other markets in Southeast Asia.
See also: Indonesia’s social commerce startups double down on rural FMCG space
Editing by Thu Huong Le and Dhania Putri Sarahtika
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