superIndonesian social commerce startup focusing on small towns and rural areas, today announced it has raised $70 million in excess of Series C registrations. NEA-led round with participation of Insignia Ventures Partners, SoftBank Ventures Asia, DST Global Partners, Amasia, B Capital, TNB Aura, Bain Capital President Stephen Pagliuca, Goldhouse, and Xendit CEO Moses Lo.
This brings Super’s total raised to date to $106 million since it was founded in 2018. TechCrunch last covered the startup at the time of Series B $28 million in April 2021.
Steven Wongsoredjo, Co-Founder and CEO of Super, said that the Gross Domestic Product of Tier 2, Tier 3 and rural areas of Indonesia is 3-5 times lower than Jakarta, however the cost of consumables there is 20% to 200% higher. thanks to supply chain problems. Not only that, more than 30% of Indonesia’s GDP comes from East Java, Kalimantan and East Indonesia, making these places a valuable potential revenue source for FMCG. By streamlining supply chains and making it easier for FMCG brands to reach consumers in rural areas, Super is also able to lower the cost of goods.
The startup plans to use its capital to expand into Kalimantan, Bali, West Nusa Tenggara, East Nusa Tenggara, Maluka and Papua in the next few years.
Super is currently working with third-party logistics providers to create a hyper-local logistics platform that the company says can deliver consumables to thousands of agents within 24 hours. since the order is placed. Corporate agents or agents can be individuals or local shops known as warungs.
Super says it now has thousands of community agents, aggregating and distributing millions of dollars worth of merchandise to the community each month. It currently operates in 30 cities in East Java and South Sulawesi, mainly targeting regions with GDP per capital of $5,000 or less.
A portion of the funding will also be used to apply machine learning to Super’s inventory SKUs, to help the startup understand what sells best and where, so it can better identify the type of inventory it sells. holding. It is launching two private-label brands, including cosmetics, and will create an app feature for dealers to allow them to track end-consumer transactions.
