GudangAda's $100m Series B signals Indonesia's warung enablers are still in demand

Falcon Edge Capital has acquired more shares in the Indonesian B2B tech firm GudangAda through secondary transactions worth an estimated $17.6 million.

Indonesian startups focused on digitalising the country’s millions of mom-and-pop stores (warungs) and MSMEs have been on a fundraising spree since the start of the year. This momentum looks poised to continue in the coming months.

Jakarta-based GudangAda is the latest among Indonesia’s warung-focused startups to announce fundraising. The B2B marketplace said on Thursday that it has raised more than $100 million in a Series B round led by Asia Partners and Falcon Edge.

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