Indonesia-based Frontier Capital has led a seed funding of an undisclosed amount into Tennova Cipta Inatech, the operator of O2O marketing solution startup Pomona Shopping Rewards.
As part of the investment, Frontier Capital CEO Handi Irawan will assume the position of president commissioner at Pomona.
The round was also joined by Prasetia – a telecom firm that also invests in early-stage startups – and strategic angel investors.
Pomona will use the fresh capital to “aggressively accelerate” marketing and partner acquisition as well as increase technological capability.
Benz Budiman, co-founder and CEO of Pomona, stated that Frontier Capital and Prasetia’s expansive network to Indonesian major corporations and retailers will help the startup expand its reach.
Pomona is a hyper local shopping rewards app that incentivizes users’ shopping activities with a point rewards system. Users get rewards for visiting shopping vicinities, checking-in at stores, and scanning product barcodes. In this way, Pomona helps increase physical engagement with brands, products, and services. Retailers have used Pomona’s marketing solution and database to deliver measurable marketing campaigns, while learning consumer behaviors in the process.
Currently, Pomona has over 650 merchant partners in Greater Jakarta Area, counting mall-operator Grand Indonesia, Ranch Market, Central Department Store, and Gramedia, among others.
The app was introduced in mid-2016 by co-founders Benz Budiman and Ari Suwendi, and since then has generated over 70,000 downloads. That represents nearly three times growth from 25,000 downloads in September.
“The mediation of physical retail stores and smartphone through location-based mobile technology is revolutionizing the way modern consumers shop today. Pomona has created a funnel connecting shoppers, retailers and brands, where everyone wins,” said Handi Irawan of Frontier Capital.
Pomona reported over 300,000 offline product scans after launching barcode scan feature within one month.