Kedai Sayur Raises $4 Million Led by East Ventures
23 August 2019
Jakarta, 23 August 2019 – Indonesian startup that digitizes vegetable hawkers, Kedai Sayur, announced earlier today that it has closed a $4 million new round of funding. The round was led by East Ventures, Southeast Asian most active venture firm; with participation from Indonesia’s SMDV, Triputra Group, and Multi Persada.
The fresh fund will accelerate the company to onboard more vegetable hawkers and retailers to be their partner (called Mitra Sayur), further extend their networks of sources and suppliers, as well as to develop its technology.
Kedai Sayur, which translates to “vegetable kiosk,” was established with the mission to bring the benefits of the digital economy for Indonesia’s vegetable hawkers by providing the best quality and price of fresh commodities for their selling products. In Indonesia, most hawkers are still struggling to source competitive fresh produce due to the long supply chain that adds costs up to 2-3 folds and lower the freshness quality of the food.
Since its inception, the 9-month-old startup has enjoyed a notable growth number of Mitra Sayur by 520%. The company’s number of GMV also has grown in a whopping number of 600%.
To date, the company provides more than 300 products in their distribution center and all is accessible for the Mitra Sayur that joined Kedai Sayur through its mobile apps.
Co-founder and CEO of Kedai Sayur, Adrian Hernanto, said, “From day one, we aim to create a tangible impact for all the fresh produce hawkers and allow them to enjoy a higher quality of life. We are delighted to witness the constantly increasing purchase value experienced by all of our Mitra Sayur, and how most of them can even double the amount within the first six months. This is only the beginning of our journey to support all hawkers going forward, and we are grateful to have the trust of our investors and partners.”
About Kedai Sayur
Kedai Sayur is an Indonesian startup with a strong mission to bring technology inclusion for vegetable hawkers in the country and improve their life quality. With a strong ecosystem of farmers, assortment facility, and distribution network, Kedai Sayur builds efficient networks of daily produce distribution and open the access for the vegetable hawkers to the best quality and price of fresh produce in one-click away.
About East Ventures
East Ventures is an early-stage venture fund focused on Southeast Asia and Japan. Over several years, East Ventures has invested in hundreds of companies in Indonesia, Singapore, Japan, Malaysia, Vietnam, and Thailand. The majority of East Ventures’ portfolio firms have been able to raise follow-on financing rounds.
East Ventures has a strong track record in developing pan-Asia tech-ecosystems and backing startups in their early days. Success cases include companies such as Tokopedia, Traveloka, Mercari, Warung Pintar, Disdus (acquired by Groupon), Kudo (acquired by Grab), Loket (acquired by Go-jek), Tech in Asia, Omise, IDN Media, Ruangguru, MokaPOS, ShopBack, Fore, and CoHive.