Sayurbox Succeeds in Receiving an Injection of IDR 1.7 Trillion

Telset.id, JakartaThe e-Grocery business-to-customer (B2C) and business-to-business (B2B) startup Sayurbox managed to secure an injection of funds worth more than USD120 million or more than IDR1.7 trillion in Series C funding.

Based on an official statement received on Monday (21/3/2022), this funding was led by Northstar and Alpha JWC Ventures with participation from the International Finance Corporation (IFC).

Not only Northstar et al, previous Sayurbox investors such as Astra, Syngenta Group Ventures, and Global Brain, and several other investors others also participated in this funding.

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According to the Co-founder and CEO of Sayurbox, Amanda Susanti, the Series C funding will be used to accelerate the penetration of Sayurbox services in Bandung and several other cities.

In addition, Sayurbox will expand the supply chain end-to-end Sayurbox nationally to various regions in Indonesia.

“We are grateful for the customer’s trust over the years and are excited to partner with top Indonesian investors such as Northstar and Alpha JWC Ventures to take Sayurbox to the next level,” said Amanda.

This Series C funding was obtained less than a year after the Series B funding of USD 15 million or IDR 216 billion led by Astra. At that time the injection of funds obtained was used to add products and expand the coverage area from Jabodetabek to Surabaya and Bali.

Then Sayurbox also builds a network of micro warehouses for fast service or quick commerce Sayurbox and SayurKlat.

“The system and ecosystem we developed allows us to have full visibility of our entire agricultural supply chain and provide the best experience for our customers,” said Amanda.

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On the other hand, Patrick Walujo as Co-Founder and Managing Partner of Northstar, explained why Northstar wanted to invest in Sayurbox. According to him, Sayurbox is very serious in empowering small farmers in Indonesia.

“Sayurbox is really serious about empowering smallholders and individual Indonesian farmers through the Sayurbox e-Grocery platform. We are very pleased to be able to participate and collaborate with Amanda and her team to develop the Sayurbox platform throughout Indonesia,” concluded Patrick.