Supply Chain SaaS Startup Advotics Obtains Funding from East Ventures
Funds will be used to expand the solutions into the SME market and added more the sales team
Advotics as a SaaS supply chain startup for brands and SMEs, today (02/3) announced $2.75 million (nearly 40 billion Rupiah) funding led by East Ventures, the previous investor that also lead the seed round in May 2019. The fresh money will be used to expand the solutions to the SME market and added more sales teams.
Advotics provides SaaS solutions to support brands to understand, monitor, and manage their supply chain systems by providing an integrated platform across all distribution points.
Advotics' Co-Founder & CEO, Boris Sanjaya said, Indonesia is a large market for technology solution businesses for corporations. The software market value in the country is estimated at $3 billion and this number will continue to grow as more companies move towards digitization.
“There are millions of manufacturing and distribution companies in Indonesia, from small companies to giant companies. We believe that the software market for corporations in Indonesia will continue to grow as more companies join the digital transformation trend," he said in an official statement, Tuesday (2/3).
On the one hand, the current restrictions as an impact of the pandemic pose various challenges for companies that still depend entirely on officers on-site to monitor and manage distribution. These constraints made them realize the urgent need for a retail and distribution management system, a solution offered by Advotics.
Boris revealed that the company has collaborated with more than 70 companies engaged in various industrial sectors, such as FMCG, automotive, and construction materials. They come from the SME level to multinational corporations, including Exxonmobil, Danone, Reckitt Benckiser, Sampoerna, Kalbe, and Mulia Group.
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