Warung Pintar is reportedly to secure series B1 round. According to our sources, the value reached $6 million or equivalent to 87 billion Rupiah. The investor leading this round is East Ventures, supported by Vertex Ventures. Both are investors from the previous round.
We have contacted relevant representative, however, we have not received a reply until this news is published.
This new investment brings Warung Pintar’s valuation to [est] $169 million. This is following the company’s previous series A round in 2019.
Previously, aside from the two venture capitalists, Warung Pintar also supported by a number of investors including EV Growth, Agaeti Venture (now AC Ventures), LINE Ventures, SMDV, Pavilion Capital, Triputra Group, Digital Garage, OVO Fund, and angel investors.
In an interview with DailySocial in late May 2021, Warung Pintar’s Co-Founder & CEO, Agung Bezharie said that the company’s mission is to present the most complete solution in the warung business ecosystem. This includes solutions for shop owners, wholesalers, small to large distributors, as well as brand owners.
“We are digitizing and integrating every stakeholder with our supply chain system to create better transparency and efficiency,” he said.
Earlier this year, Warung Pintar also announced its acquisition of Bizzy for $45 million. Although it remains a separate business entity, this acquisition allows Warung Pintar to gain access to new channels in the Bizzy network, including wholesalers, distributors, to brands/manufacturers.
Bizzy is known as a B2B e-commerce that provides complete technology-based procurement services.
This supply chain is also a new evolution of the Warung Pintar business model. Through the Grosir Pintar application, they provide inventory management and logistics services for wholesale owners; makes it easy to connect to the warung channels on the network.
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Original article is in Indonesian, translated by Kristin Siagian
