JAKARTA. Ula, a business-to-business (b2b) e-commerce start-up from Indonesia, had just scored USD 87 million in its Series B funding from several investors, including Tencent and venture capital (VC) of Amazon’s founder.
This funding is led by Prosus Ventures, Tencent, and B-Capital. Moreover, Bezos Expeditions, owned by the founder of Amazon, Jeff Bezos, is said to participate in Ula’s funding round. In the official announcement received by idnfinansial.com, other investors joining in the funding session include Northstar Group, AC Ventures, Sequoia Capital India, Quona Capital, and Alter Global.
Riky Tenggara, Co-Founder and CEO of Ula, claimed that this funding would be utilised in supporting the digital technology integration to empower traditional kiosks in Indonesia. “Our team would keep on trying to offer benefits from the technology utilisation for millions of kiosks in Indonesia, especially outside metropolitan areas,” he promised.
Meanwhile, Patrick Walujo, Co-Founder and Managing Partner of Northstar, pointed out that Ula’s business model aligns with the mission and vision aimed by Northstar Group. “We have a similar mission with Ula, in which both aim to empower Indonesia MSMEs through technology and support its development in Indonesia,” he elaborated further.
It is worth mentioning that this is the second round of funding received by Ula since the beginning of 2021. Based on idnfinancials.com data, Ula had obtained the Series A funding of USD 20 million from five investors in January 2021. Previously, in June 2020, Ula had succeeded in completing the Seed Round, collecting USD 10.5 million from 13 investors. (KR/ZH)