Indonesia’s “smart kiosk” startup raises more funds to digitise street vendors
Indonesian micro-retail tech startup Warung Pintar (“smart kiosk”) has secured new funding of $27.5 million in a Series B round participated by its existing investors and a new investor, Indonesian e-payment startup OVO.
The company, launched early last year as an initiative by private investors to provide street vendors in Jakarta with smart technology and WiFi connections in a city-wide project, is now seeking to get 5,000 partners for its pre-fabricated kiosks.
The kiosks are geared towards Indonesian small and medium enterprises and mom-and-pop stores and feature a surveillance camera, an LCD TV, stove and dispensers, a refrigerator, a digital system, a charging station and mobile Internet access.
Starting out with two kiosks on January 2018, Warung Pintar currently has more than 1,150 kiosks across Jakarta and, as of recently, some more in Banyuwangi, East Java.
The company says it has 110 per cent of social return on investment, claiming the support and investment it gives to its partner shop-owners, or “mitra,” has improved the latter’s quality of life by 110 per cent driven by a 41-per cent increase in their income.
“We will continue to strive in transforming micro-retail so they can have more competitive advantage in the midst of the retail landscape and build a better economy for themselves,” said Warung Pintar co-founder and CEO Agung Bezharie Hadinegoro.
Existing backers participating in Warung Pintar’s latest round include SMDV, Vertex, Pavilion Capital, Line Ventures, Digital Garage, Agaeti, Triputra, Jerry Ng and EV Growth, the company said in a release. For OVO, the funding marks its first publicly known investment in a fellow tech startup.
Indonesian micro-retail tech startup Warung Pintar (“smart kiosk”) has secured new funding of $27.5 million in a Series B round participated by its existing investors and a new investor, Indonesian e-payment startup OVO. The company, launched early last year as an initiative by private investors to provide street vendors in Jakarta with smart technology and WiFi connections in a city-wide project, is now seeking to get 5,000 partners for its pre-fabricated kiosks. The kiosks are geared towards Indonesian small and medium enterprises and mom-and-pop stores and feature a surveillance camera, an LCD TV, stove and dispensers, a refrigerator, a digital...
Indonesian micro-retail tech startup Warung Pintar (“smart kiosk”) has secured new funding of $27.5 million in a Series B round participated by its existing investors and a new investor, Indonesian e-payment startup OVO.
The company, launched early last year as an initiative by private investors to provide street vendors in Jakarta with smart technology and WiFi connections in a city-wide project, is now seeking to get 5,000 partners for its pre-fabricated kiosks.
The kiosks are geared towards Indonesian small and medium enterprises and mom-and-pop stores and feature a surveillance camera, an LCD TV, stove and dispensers, a refrigerator, a digital system, a charging station and mobile Internet access.
Starting out with two kiosks on January 2018, Warung Pintar currently has more than 1,150 kiosks across Jakarta and, as of recently, some more in Banyuwangi, East Java.
The company says it has 110 per cent of social return on investment, claiming the support and investment it gives to its partner shop-owners, or “mitra,” has improved the latter’s quality of life by 110 per cent driven by a 41-per cent increase in their income.
“We will continue to strive in transforming micro-retail so they can have more competitive advantage in the midst of the retail landscape and build a better economy for themselves,” said Warung Pintar co-founder and CEO Agung Bezharie Hadinegoro.
Existing backers participating in Warung Pintar’s latest round include SMDV, Vertex, Pavilion Capital, Line Ventures, Digital Garage, Agaeti, Triputra, Jerry Ng and EV Growth, the company said in a release. For OVO, the funding marks its first publicly known investment in a fellow tech startup.
