Indonesian offline-to-online analytics company Advotics has raised a seed funding round of $2.7 million led by East Ventures, according to an official statement.
The round was also joined by a number of undisclosed investors, East Ventures told DEALSTREETASIA.
The company said it plans to use the fresh funds to infuse deeper technology in product development and for customer growth acceleration.
Advotics is a SaaS startup which focuses on helping supply chain stakeholders create data-driven decision making and digitalize companies’ offline field, trade, and distribution activities.
One of Advotics’ breakthrough solutions is digitising product using unique identity, such as QR code printed on the product packaging. Over the past 24 months, it claims to have placed QR codes on more than 100 million units.
The company also provides management and analytics platform to track and trace distributions for better analytics, price and distribution control, and offline-influencer marketing. It has signed deals with over 50 corporate clients, including ExxonMobil, HM Sampoerna (an affiliate of Phillip Morris International), Danone, Mulia Group, Saint Gobain, Nutrifood, and Indosurya.
“Advotics also provides industries’ highly-demanded features, such as in-store productivity app for workforces with geo-tracking, dispatch and route management system, offline-to-online marketing, B2B commerce platform, and powerful BI & analytics dashboard for management. With this product portfolio, Advotics can cater to the needs of both larger corporate and smaller SME segment,” said co-founder and CTO Hendi Chandi.
For East Ventures, Advotics becomes the latest portfolio company in its B2B ecosystem, which includes startups like marketplace Ralali and recent investment Triplogic.
Logistics startup Triplogic last month announced an undisclosed seed funding round from East Ventures.