Tokopedia is involved in a funding round for Sayurbox
Within the past three months, there have been various reports about the participation of Indonesian e-commerce giant Tokopedia in a funding round for on-demand fresh produce delivery service Sayurbox.
Today we are finally able to confirm the report of the funding round, which has further clarified the map of competition among unicorns in the country.
Prior to this funding round, Tokopedia has confirmed its acquisition of wedding vendor marketplace Bridestory.
Sayurbox is an agritech startup that focusses on empowering local farmers by selling and delivering their local produce through the use of an online platform. The startup has received an early stage funding from Patamar Capital in 2018.
It is also a participant in the second batch of Grab Ventures Velocity accelerator programme.
Its closest competitor Limakilo has been acquired by Warung Pintar for an undisclosed sum earlier this year. Through the acquisition, Warung Pintar partners are able to expand their products supply using the best prices provided by Limakilo farmers. There will also be greater variation in the products that they are selling.
Running an on-demand grocery service possesses its own unique challenge as it requires special treatment during storage and delivery that is able to ensure the products’ freshness.
Competition in this segment is getting tougher as major e-commerce players such as JD.id and Blibli began working with partners in the business, while HappyFresh has secured a partnership with Grab for logistical support.
At a different occasion, Tokopedia CEO William Tanuwijaya said that monthly transaction on the platform has reached US$1 billion per month. It has even reached US$1.3 billion during Ramadan holy month in May.
The company’s goal for this year is to develop its infrastructure-as-a-service business to support its growth.