JAKARTA - Segari, a social commerce grocery startup, today announced Series A funding of US$16 million or equivalent to IDR 227.6 billion. In less than 12 months since it started operating, this startup has become the choice of residents of Jakarta and its surroundings in meeting the needs of fresh products. The company managed to increase the number of users, orders, and the revenue more than 20 times.
This Series A funding was led by Go-Ventures with participation from Susquehanna International Group (SIG) and various strategic investors such as Alfamart, Gunung Sewu Group (one of the largest agricultural and food groups in Indonesia), and Intrinity Capital which is affiliated with Gulaku. BEENEXT, AC Ventures and Saison Capital, which are Segari investors since the early stages (seeds) are also involved in this funding round.
The startup, founded in 2020, is committed to simplifying the complex distribution chain in Indonesia by leveraging technology and empowering communities as partners in more efficient sales and distribution. In order to access a variety of Segari products, ranging from fruits, vegetables, meat, to staple foods, customers can place orders directly through the Segari website or application. In just 15 hours, fresh food products will reach consumers from farmers.
“The current COVID-19 pandemic has become a catalyst for the growth of the online (e-grocery) market in Indonesia. More and more consumers are turning to online purchases, especially shopping for their daily needs. Over the past year, Joshua, Farand, and Farandy have shown outstanding execution, Segari is growing very fast and still maintaining the best economic unit in this sector. They are the right team to solve one of Indonesia's most pressing problems, namely the complex agricultural distribution chain,” said Aditya Kamath, Partner, Go-Ventures.
Segari will use the latest funding to strengthen infrastructure, ensuring a more efficient process from farmer to consumer. Therefore, Segari can grow bigger and be able to provide a positive social impact for local farmers. To do so, Segari plans to strengthen and add teams in various fields, including operations, technology, and marketing. (LM)