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.
