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Aditya Hadi Pratama · · 1 min readIndonesia’s GudangAda raises $100m from Asia Partners, Falcon Edge
GudangAda, an Indonesian business-to-business online marketplace, announced that it has raised more than US$100 million in its latest round.
More funding details
- Lead investors: Asia Partners and Falcon Edge
- Existing investors: Sequoia Capital India, Alpha JWC Ventures, and Wavemaker
- Stage: Series B
More company updates
- This round takes GudangAda’s total funding to US$135 million.
- The company will use the fresh funds to expand its team and strengthen its service offerings, including logistics, point-of-sale software as a service, marketing, data, and financial solutions.
- There are almost 500,000 users across Indonesia who use GudangAda, CEO Stevensang said. The platform has also expanded its product categories to include pharmaceuticals, packaging, homeware, and stationery.
- Since the startup’s inception in 2019, its net merchandise value has grown to US$6 billion.
- GudangAda’s has also started collaborating with local vehicle and warehouse providers to provide logistics services.
For more coverage of the company, head here. You can also click on the link below to view key details about the company as well as its funding history.
Editing by Miguel Cordon and Arpit Nayak
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