Indonesia's startups wooing warungs draw parallels with India but have different story to sell

Photo: Warung Pintar website

When BukuWarung and Ula, two Indonesian startups serving roadside shops – warungs in local parlance – announced funding rounds in June, one commonality stood out: both had raised money from the founders of Indian startups.

Accounting platform BukuWarung roped in the founders of Indian e-commerce company Snapdeal for its pre-Series A round, while B2B commerce startup Ula bagged seed funding from the founders of its highly valued Indian peer Udaan.

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