Japan’s printing startup Raksul leads $400k seed round in Jakarta’s Prinzio

Visual of Raksul website, November 2015.

Japanese commercial printing outsourcing startup Raksul is expanding into Indonesia by leading a $400,000 seed investment alongside East Ventures into is Jakarta-based Prinzio.

East Ventures is contributing a $50,000 ticket while Raksul will invest the balance. Following this, Raksul gains a 20 per cent equity interest in Prinzio.

This reflects a trend of venture-backed startups investing in other mature startups allowing them to consolidate, expand into new markets and add to the top line. This, in turn, makes them more attractive to potential investors.

Operating in the e-commerce and printing space, the Tokyo-based firm has raised $51.6 million to date across five rounds of investment. Their latest rounds of equity financing was a Series C investment worth $33.7 million in February 2015.

Founded by CEO Yasukane Matsumoto in 2009, Tech in Asia reported that Yasukane’s acquisitive growth strategy is to invest in and potentially acquire local printing startups in Asian markets. Yasukane added that Raksul would be revenue generating by January or February 2016, with its most popular item being flyers, which accounted for more than 60 per cent of revenues.

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In an interaction with Tech in Asia, Matsumoto explained: “Right now, there’s no e-commerce printing option in Indonesia, but consumers want it. Existing players are the physical shops like Kinkos. You have to go pick up your order, and the traffic is so bad in a city like Jakarta. This ‘shop style’ is how people in the US and Japan did their printing in the 80s and 90s.”

The Indonesian target firm, Prinzio, is aiming to connect Indonesian users with local brick-and-mortar printing businesses, enabling them to select their vendor based on criteria like price and location, make an order online and receive the shipment to the destination address. Yasukana also disclosed that he was in the process of seeking aid from Japanese venture capitalists active in Southeast Asia.

Raksul maintains more than 100 printing partners in Japan, covering all 47 perfectures of Japan. Meanwhile, Prinzio has established partnership with six printers in Jakarta. According to founder and CEO Riky Tenggara – who maintains an extensive professional portfolio in the e-commerce space – Prinzio will deploy the funds to finance further talent acquisition, operations and marketing.

In a statement to Tech in Asia, Matsumoto explained that Raksul would be targeting investments in one or two more firms by the end of 2016 in the region, with plans to enter the Philippines and Singapore. He also intends to expand Raksul’s footprint in the highly competitive Indian market.

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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.

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.