Indonesian retail tech startup Warung Pintar has announced that it has secured a $4-million seed funding from SMDV, Digital Garage, East Ventures, Insignia Ventures Partner, Triputra Group and various angel investors.
Warung Pintar, which translates to Smart Kiosk, is a prefabricated kiosk with technology integration for Indonesian SMEs and mom-and-pop stores (warung). A typical prefabricated smart kiosk from Warung Pintar features a surveillance camera, an LCD TV, stove and dispensers, refrigerator, a digital system and a charging station.
“We believe there is room to explore and we do welcome more partners from both tech and non-tech companies. With this new funding we hope to develop a couple of hundred Warung Pintars in this year,” says Agung Bezharie, CEO of Warung Pintar.
“We have seen significant value creation by this product since the ideation within East Ventures to the first prototype when it hit the street. The seed round will help us accelerate product iteration to serve wider market and figure out the right business model,” said East Ventures managing director Wilson Cuaca, who is also the chairman of Warung Pintar.
The deal is the latest strategic move by startups whose services focus on empowering the SME sector in Indonesia. Earlier HR and accounting platform Sleekr announced its partnership with telco firm XL Axiata to provide a digital solution to SMEs by offering affordable postpaid packages and free access to its mobile application.
More notably, M Cash Integrasi (MCI), a digital kiosk service provider which in October 2017 became the second Indonesian startup to IPO, has also launched a programme that enables small and medium-sized businesses to distribute digital products by using digital kiosks.
For East Ventures, the investment in Warung Pintar comes only days after it announced its participation in a Series A funding round for Nyriad Limited, a New Zealand-based exascale computing firm that specializes in advanced data storage solutions.