Indonesian e-grocery startup Sayurbox has achieved USD$120 million in an oversubscribe Series C funding round led by Northstar and Alpha JWC Ventures, with participation from new investor, the World Bank’s International Finance Corporation. The financing round was also joined by existing investors Syngenta Group Ventures, Astra, Global Brain, with other angel investors.
According to the farm-to-table distribution platform, the new funding will be used to accelerate its services and develop its supply chain nationwide.
“Our proprietary demand forecasting, inventory planning and route optimization algorithms enable us to have full visibility of our entire agri-supply chain, delivering the best customer experience in terms of better freshness, pricing, on-time delivery, and product range,” commented Sayurbox’s co-founder and CEO, Amanda Susanti in a statement.
“This translates into better customer satisfaction, loyalty and repeats, while reducing wastage and lowering fulfillment costs. We are extremely grateful and excited to be partnering with strong value-add investors Northstar and Alpha JWC Ventures who believe in our vision,”