Pasarnow Is Reportedly to Receive 138 Billion Rupiah Funding, Led by East Ventures

Pasarnow online grocery is reportedly received follow-on funding of $9.5 million (over 138 billion Rupiah). According to a reliable source, the round has boosted the company's valuation to $56 million.

Again, East Ventures led the latest round, supported by a number of investors such as January Capital and Skystar Capital. DailySocial.id tried to confirm the news, but until this news published, we haven't heard any response from the company's representative.

Last September, Pasarnow has received $3.3 million seed funding along with the pivotal effort of its social commerce platform under the brand "Jamannow". In this round, apart from East Ventures, also participated SMDV, Skystar Capital, Amand Ventures, Prasetia Dwidharma, and others.

Pasarnow was founded in 2019 by James Rijanto, Donald Wono, and Cindy Ozzie. They are focused on simplifying the supply chain in the healthy grocery sector and offering quality fresh food products to customers through a multi-channel platform, enabling them to embrace both B2B and B2C sectors.

Each of these channels offers different prices, promotions and key features to meet specific customer needs. Pasarnow's Co-founder and CEO, James Rijanto said food such as fruits, vegetables, and frozen meat are perishable, thus requiring fast delivery with well-controlled temperature control, and ultimately causing high logistics costs.

This is what Pasarnow currently focuses on. In the process, the operating system on the backend collects order history to generate market demand predictions, therefore, over 1,000 partner farmers and suppliers can better plan and optimize their harvest schedules.

Therefore, they can offer customers high quality and fresh ingredients at the best prices and minimize the amount of wasted fresh ingredients. To date, Pasarnow is available in Greater Jakarta and Bandung with more than 100 employees and 200 day laborers and driver partners.

Long list of online grocery startup funding

Throughout the pandemic, the online grocery business continued to reap high traction as it penetrates into daily necessities. The following is a list of funding that DailySocial.id has summarized throughout 2020 to date:

–Original article is in Indonesian, translated by Kristin Siagian