JAKARTA (TheInsiderStories) – Advotics, an Indonesian cloud-based offline-to-online analytics startup, has announced the closing of US$2.7 million seed investment led by East Ventures. The company plans to use the fresh funds to infuse deeper technology in product development and solutions offered to customers and accelerate customer growth.
“With this product portfolio, Advotics can cater needs from both larger corporate and smaller SME segment,” said Advotics Co-founder and CTO Hendi in an official statement on Tuesday (05/14).
Managing Partner of East Ventures Willson Cuaca rated the corporate digital transformation is sweeping Indonesia in a big wave. He stated: “We believe this is just the beginning of supply chain transformation in Indonesia. We welcome Advotics team to East Ventures’ B2Becosystem.”
Advotics was founded with the mission to solve pain points faced by most companies as a result of still relying on the offline method to manage and track their sales and distribution operations.
In less than two years after product launched, Advotics was able to win contracts from more than 50 corporate clients, such as ExxonMobil, PT HM Sampoerna Tbk (IDX: HMSP), Danone, Mulia Group, Saint Gobain, Nutrifood, and Indosurya Group.
Previously, East Ventures has injected seed funding to 7.5 Degree (7点5度), a Singapore-based media that bridge Southeast Asia and China tech-players with their Chinese language articles. The two founders, Li Yufu and Lin Xibang start by founding 7.5 Degree straight after they graduate from Nanyang Technological University.
Then Stockbit, a stock investing app for millennials in Indonesia raised a Series A Funding led by East Ventures. Founded in 2013 as a social network for stock investors, Stockbit has evolved into an app that integrates stock trading, information aggregation, and social networking.
Stockbit recently launched Bibit, a robo-advisor app that helps people build a personalized portfolio and invest in an optimal way. The apps also enabled investors to invest starting from as low as US$1.
East Ventures also give seed funding to Triplogic, an on-demand, inter- and intra-city logistics startup. The company is able to fulfill instant delivery (items will reach its destination within 3 hours by establishing drop shipping points in small medium enterprises and local shops.
The startup is currently operating in 61 cities across Indonesia and partnering with over 1,600 SMEs. Triplogic has been able to successfully conduct thousands of deliveries per day and has experienced a 34x growth in gross merchandise volume.
During this semester, the investment fund also given another seed funding to Lubna.io, a Robo Trading platform that helps people trade multiple financial assets automatically and safely. Founded by a former analyst of East Ventures, the company aims to achieve a mission of providing a one-stop solution for retail investors of all shade.
Entering the third week of April, Cuaca and his company has added its portfolio, Waresix, a logistics tech-company to its portfolio. The company provides a curated platform that is best fit and most efficient for each customer category as logistics involve a wide range of elements, including transport infrastructure, cargo, consolidation, warehousing, and more.
East Ventures is an early stage venture fund focusing on SEA and Japan with four unicorns in its port like Tokopedia, Traveloka, Mercari and Kudo.
Written by Daniel Deha, Email: firstname.lastname@example.org