Warung Pintar Acquired Limakilo
Both are startup portfolio of East Ventures
Randi Eka - 26 February 2019
New retail startup Warung Pintar is making acquisition over Limakilo, a startup focused on solution to cut the supply chain of agricultural products by making transaction directly to the farmers. The further details will be announced on Wed (2/27) in the press conference held by Warung Pintar.
Warung Pintar and Limakilo are supported by East Ventures. In its debut, Limakilo obtains seed funding from a venture capital led by Wilson Cuaca. They partnered up with farmers from various region, such as Brebes, Bandung, and Yogyakarta.
Collaboration of both startups hasn't finalized, but seeing their capability, Limakilo might be potential to be the supplier of agricultural products to Warung Pintar outlets. Because the business system should be effective, Warung Pintar is to set more competitive prove to resell products to consumers without middlemen.
Last January 2019, Warung Pintar just secured a series B funding worth 390 billion rupiah. Currently, they also have around 1150 kiosks, including strategic partnership with some parties, particularly East Ventures' portfolio. Wilson said, Warung Pintar is one of the fastest growing startup in East Ventures' portfolios.
– Original article is in Indonesian, translated by Kristin Siagian