Ralali, a marketplace of MRO (Maintenance, Repair, ad Operational) for B2B, secured US$ 2,5 million (around Rp 33 billion) from two Japanese investors, Beenos Plaza and CyberAgent Ventures (CAV), today (8/6). The previous investors of Ralali, East Ventures (EV) and couple of angel investors, also joined this investment round. The funding will be spent to support Ralali’s vision of becoming the largest MRO for business marketplace in Indonesia.
Beenos Group’s Founder Teruhide Sato stated in the release we received that they got interested in investing after assessing the attempts and innovation the team have done since its emergence in 2013. He admitted that Ralali has somewhat encouraging spirit of becoming the leader in the market, which also adds more plus points. He continued that BEENOS plans on making use of the e-commerce network their partners in developing countries have and committed to back Ralali’s mission up.
Ralali’s CEO and Founder Joseph Aditya claimed that the fresh money will go to team expansion, particularly in product and marketing enhancement and development. They also plan on acquiring wider market as well as more merchants and buyers, much faster than ever. “The funding will also encourage our expandion to other verticals overseas,” he said.
Aditya added that ever since being established back in 2013, Ralali has grown really vast. Today, there have been more than 50.000 SKU and no less than 300 thousand business visitors in a month. It’s been tripled in the past six months, after previously reaching only 15.000 SKU.
“The market size of MRO market for B2B is more than $60 billion and keep counting significantly. However, there are still a lot of ineffeciency and bureaucracy in business processes,” Aditya claimed.
In response to this challenge, Ralali emerges to cut the inefficiency of business processes through technology. Ralali acts as a medium between vendors and buyers, allowing the procurement process to be simpler, easier, and more transparent.
Ralali also joins the attempt of educating the players off industry equipment procurement business in regard to the availability of new technology which may help their businesses as a whole. “We look to cut the time spent and help their business to grow even faster,” Aditya concluded.
