East Ventures participates in Warung Pintar’s $4mn funding round
Date: 2018-02-12   Author: Pankaj Singh  Category: #market

East Ventures participates in Warung Pintar’s $4mn funding round

The Indonesian retail technology company, Warung Pintar, has reportedly been on the receiving end of quite some capital this week. Reliable sources claim that several companies, including Digital Garage, Insignia Ventures Partner, Triputra Group, SMDV, and the latest - East Ventures, have offered a seed capital of USD 4 million for the expansion of the startup.

For the uninitiated, Warung Pintar has integrated technology services for Indonesian mom-and-pop stores and SMEs. The company has developed a smart kiosk incorporating an LCD TV, a surveillance camera, refrigerator, a charging station, digital systems, stove and dispensers.

As per Deal Street Asia, this investment is one of the strategic steps taken by startup companies to improve the SME sector across Indonesia. Prior to this deal, the HR and accounting company Sleekr, had also collaborated with the Indonesian telecom company, XL Axiata in order to digitalize SMEs. Through this JV, Sleekr was apparently looking forward to providing free access to its mobile applications and cheap postpaid packages.

This seed funding would help Warung Pintar to enhance its product portfolio and acquire more market share, claimed Wilson Cuaca – the MD of East Ventures, also serving as a chairman of Warung Pitar. He also stated that company had witnessed commendable value creation with their kiosks since the product inception to the launch.

Speaking with regards to the funding obtained from numerous investors, the CEO of Warung Pintar, Agung Bezharie stated that with this new investment, they expect to develop a couple of hundred Warung Pintars by the end of this year.

Prior to investing in Warung Pintar, East Ventures also participated in the seed funding of a New Zealand based computing company, Nyriad Limited, which develops innovative data storage solutions. The increasing investment in the digitalization of kiosks is likely to generate lucrative opportunities for retail tech startups in Indonesia, cite experts.



About Author


Pankaj Singh

Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

Read More

More from Pankaj


Post Recommendents

Worldwide N-Methylethanolamine Market Forecast 2021-2026 Growth Drivers, Regional Outlook
Author: Ashwin Naphade

Market Study Report, LLC, has added an exhaustive research study of the ' N-Methylethanolamine market', detailing every single market driver and intricately analyzing the business vertical. This ' N-Methylethanolamine market' study...


2026 Projections: Transient Voltage Suppressor Diodes Market Report by Type, Application and Regional Outlook
Author: Ashwin Naphade

The ' Transient Voltage Suppressor Diodes market' report added recently by Market Study Report, LLC, evaluates the industry in terms of market size, market share, revenue estimation, and geographical outlook. The study also delivers a prec...


Worldwide Oxygen Regulator Market Study for 2021 to 2026 providing information on Key Players, Growth Drivers and Industry challenges
Author: Ashwin Naphade

The ' Oxygen Regulator market' report Added by Market Study Report, LLC, enumerates information about the industry in terms of market share, market size, revenue forecasts, and regional outlook. The report further illustrates competitive i...