Indonesia’s point-of-sales (POS) startup Pawoon has raised an undisclosed amount of series A funding round led by existing backer Kejora Ventures, the company announced today.
The fresh capital will be used to increase sales, expand marketing teams, and accelerate research and development efforts. The startup is also experimenting with an additional app that businesses can use to market themselves and build relationships with their customer.
Launched in 2015, Pawoon is a startup that offers a software and hardware solution to Indonesian small and medium enterprises. Business owners can use Pawoon to manage inventory and payment. Currently, it has over 30,000 businesses on its platform, which can be installed on any Android service.
“Majority of small and medium business owners in Indonesia still run their businesses relying on pen and paper,” Ahmad Gadi, CEO of Pawoon, said in a statement.
“Using our platform, businesses no longer need to invest in ancient cash registers or overpriced POS systems to organize their business and keep track of everything from sales, inventory, and customers’ data,” he said.
Pawoon runs on a freemium plan for most of its users, although some have upgraded to the paid plan. It’s largest client now is a food franchise with over 200 outlets.
Pawoon’s rivals in Indonesia are MokaPOS, Olsera, Dealpos, and Omega POS Cloud. Earlier this year, MokaPOS raised $2 million in a funding round led by Mandiri Capital, with participation from Convergence Ventures, East Ventures, Fenox VC, and Northstar Group.
Prior to this latest funding, Pawoon was already backed by Kejora Ventures and telco firm Indosat Ooredo. During its initial development, Pawoon had been part of Kejora’s accelerator program Ideabox.
In February, Kejora announced the first close of its Kejora Star Capital II Fund, raising about one-third of the $80 million target. Post the final close, that is targeted for the year end, this will be the largest vehicles raised by Indonesian VC firms.
Other than Pawoon, Kejora has committed capital from several other startups including C88Fintech Group, Qareer Group Asia, Etobee, Investree, and MoneyTable.