With $35.9 mln in VC funding, Indonesia’s GudangAda adds logistics to its B2B marketplace
JAKARTA - A 15-month-old B2B marketplace says it has onboarded 5,000 sellers and buyers across 500 cities in all of Indonesia’s major islands and is fulfilling an average of more than $100 million in transactions per month. Flushed with $35.9 million in venture capital funding, GudangAda is now ready to scale.
This month GudangAda secured $25.4 million in a Series A round from Sequoia Capital, Alpha JWC Ventures and Wavemaker Partners. The company in February bagged $10.5 million in a seed round from Alpha JWC, Wavemaker, and Temasek affiliate Pavilion Capital.
“The funding will be focused on scaling current operations, launching new business lines, developing technology capabilities and product features and strengthening our workforce,” Founder and CEO Stevensang told Salaam Gateway.
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