Indonesian retail tech startup Warung Pintar acquires Limakilo

Indonesian micro retail-tech company Warung Pintar has acquired local agtech startup Limakilo, a platform that simplifies the food supply chain by connecting farmers to food stalls and vendors.

The acquisition will enable thousands of Warung Pintar stalls to have direct access to sell staple food items at their digital-based stalls, according to an announcement. No financial details were disclosed.

“High demand for staple food in the community will certainly increase the income of stall owners. In return, farmers will have a better selling price and wider access to the market. Thus, it is a win-win solution that would result in multiplied impact for stall owners and farmers,” said Agung Bezharie Hadinegoro, co-founder and CEO, Warung Pintar.

Founded in 2016, Limakilo aims to give farmers access to hundreds of curated traditional markets and kiosks. The company raised its seed funding from early-stage venture capital firm East Ventures, which is also an investor in Warung Pintar.

In fact, Warung Pintar is one of three startups to be incubated within East Ventures. The other two are co-working space Co-Hive and specialty coffee startup Fore Coffee.

Warung Pintar, which literally means ‘smart kiosk’, is a pre-fabricated kiosk with technology integration for Indonesian SMEs and mom-and-pop stores. A typical pre-fabricated smart kiosk from Warung Pintar features a surveillance camera, an LCD TV, stove and dispensers, a refrigerator, a digital system and a charging station.

The company’s acquisition of Limakilo comes just over a month after it announced the completion of its Series B funding round, in which it raised $27.5 million from investors including SMDV, Vertex, Pavilion Capital, Line Ventures, Digital Garage, Agaeti, Triputra, Jerry Ng, and EV Growth.

The only new investor in the new round was payments startup OVO, which came in as a strategic investor. The deal marked OVO’s first publicly known investment in a fellow tech startup.

Also Read:

Indonesia’s Warung Pintar bags $27.5m Series B from OVO, existing investors

Indonesia’s Warung Pintar raises $4m in Vertex-backed round

Indonesia: Alpha JWC backs agritech startup TaniGroup’s pre-Series A round

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.