Indonesia-based Praktis raises US$20 million of series A funding led by East Ventures

Praktis, an end-to-end supply chain enabler has raised US$20 million of series A round led by East Ventures (Growth fund) with participation from Triputra Group and SMDV.

The investment will be allocated to accelerate technology enhancements for the brands sides, at the same time to help the suppliers to have an easier business process, better team building, and enhancement of the end-to-end supply chain ecosystem.

“More than US$30 billion fashion and beauty markets in Indonesia are served by small and medium players. Through aggregation, process improvements, and technology implementation, we can help those players to have more efficient supply chain processes, so they can focus more on leveraging and growing their business. It becomes our goal since day one and it is reflected to our outstanding growth and successful profitability that we have achieved so far,” said Adrian Gilrandy, Co-Founder and Chief Executive Officer of Praktis.

Praktis experienced significant growth, 12x year-on-year growth from 2020 to 2021 and growing 4x year on year from 2021 to 2022. All the initiatives are well executed because of product market fit and solving the real pain points. COVID-19 pandemic becomes a blessing in disguise to the company because it accelerates the adoption rate to market.

“We are thrilled to double down our investment to Praktis as they strive to empower D2C brands in Indonesia and hit profitability much faster than we expected. We have complete confidence in Praktis’s ability to revolutionize the supply chain solutions industry in Indonesia as they assist businesses to expand and bring positive impacts to the society,” said Willson Cuaca, Co-Founder and Managing Partner at East Ventures.

Praktis’ services cover raw material purchase, production, fulfillment, and logistics with technology enhancement to provide simple, efficient, and reliable operations both for direct-to-consumer (D2C) brands and suppliers. It allows brands to focus on their core competencies and let Praktis handle the rest of their business operations with its reliable tech and data-driven platform for a smooth-sailing supply chain.

“Praktis has helped my business grow rapidly. They are flexible with our needs as a brand. Very satisfied with their fast and reliable fulfillment system. We get lots of compliments from our customers saying how fast the delivery service is. Professional team, fast reacting and always a pleasure to work with,” said Alice Norin, Co-Founder of Fashion Today.

“Rosé All Day has been working with Praktis since 2020. Really happy that Praktis gets to take care of our operations with no hassle, so that we can continue to focus on growing our brand. Thank you, Praktis!” said Cindy Nyoto, Co-Founder of Rosé All Day.

“Working with Praktis for the past 8 months has really helped us to accelerate the optimization of our manufacturing system and capacities. Their expertise support help us to improve our operations and create a positive mentality and culture for our team,” Zaky Winata, Manufacture Owner of PT. Bisma Estetika Indonesia. 

In order to strengthen their capability and prepare to scale up, Praktis recently also welcomed a new member to its board of directors, Leonard Pontoh as Chief Financial Officer. He brings a solid background in public accounting with more than 12 years of extensive experience in various well-known startup companies.