GudangAda raises $100M in funding led by Falcon Edge & Asia Partners

GudangAda raises $100M in funding led by Falcon Edge & Asia Partners

by Pranali Mehta

GudangAda, an Indonesia-based e-Commerce B2B marketplace, has reportedly bagged more than $100 million in a Series B funding round led by Falcon Edge and Asia Partners. This latest round also includes participation from other investors namely Wavemaker Partners, Alpha JWC, and Sequoia Capital India.

In the Series A round, GudangAda had secured $25.4 million from Alpha JWC and Sequoia Capital India in 2020. With the Series B round, the company has raised over $135 million funds in total to date. The recent funding commitment was oversubscribed, as the company initially intended to raise $75 million.

The funds will be used to expand the company’s product categories, which apparently include stationery, homeware, packaging, pharmaceuticals, and fast-moving consumer goods. Moreover, it is further intending to develop AI-based tools to provide personalized recommendations for merchant customers, as well as take advantage of the ongoing coronavirus crisis by ramping up the sales of disinfectants.

Notably, GudangAda has been serving over half a million SMEs and covering 500 cities since it was founded in 2019. Principal distributors and manufacturers on the platform include Reckitt Benckiser, Sasa, and Sido Muncul.

According to Stevensang, CEO & Founder of GudangAda, the logistics expenses in Indonesia have surged rapidly over the last 10 years, which impacted the overall supply chain, particularly SME buyers. With an aim to cater to such issues, the company is focusing on simplifying the buying inventory for these SMEs.

In addition, GudangAda has been placing high emphasis on handling every aspect of B2B buying, including deliveries, as well as lowering operational costs by seamlessly connecting principal retailers, distributors, and manufacturers. Its mobile app also consists of a point-of-sale system to help manage orders, make payments, and track logistics.

In order to reduce the logistics costs, the company collaborated with the 3rd-party vehicle and warehouse providers to expand its coverage throughout the country. Furthermore, it also partnered with banks to deliver working capital for SMEs, thus allowing them to apply for loans through the usage of the data on the platform.

Source credit: https://techcrunch.com/2021/07/21/indonesian-b2b-marketplace-gudangada-raises-more-than-100m-in-new-funding/

Pranali Mehta

A chemical engineer by qualification, Pranali Mehta dutifully walked down the slated path and worked in a chemical firm for a year. Her passion for writing however, pushed her into experimenting with the same as a career. With over three years of experience in content writ Read more...