Ula receives $20 million in Series A funding to integrate Indonesia’s retail market

However, as in other Asian markets, most small retailers in Southeast Asia still face numerous challenges in sourcing inventory , supply chain and working capital .

It is understood that most of the retail market in Indonesia is unorganized. For example, in the food and vegetable categories, farmers not only sell their goods to agents, but also to other different markets, where the inventory flows to small wholesalers, and so on.

However, in 2020, Ula , an Indonesian e-commerce startup , was founded. The platform is organizing procurement and supply chain integration for small retailers to provide a one-stop shop for everyone.

Despite the pandemic, Ula chose the Indonesian market and now serves more than 20,000 stores.

Of course, investors have also noticed Ula 's brilliance.

Recently, Ula announced that it has raised $20 million in Series A funding. The round was led by existing investors Quona Capital and B Capital Group. Other existing investors include Sequoia Capital India and Lightspeed .

The managing partner of Quona Capital said in an interview that the entire retail value chain , especially the retail value chain consisting of necessities , fast-moving consumer goods , staple foods and fresh agricultural products, is very fragmented.

Ula can effectively integrate the market and help integrate the demand and supply chain of the Indonesian retail market .

It is understood that Ula is trying to redefine the retail distribution ecosystem through a large amount of technology coverage. It connects some of the largest players on the supply side with the smallest retailers and consumers.

Micro-retailers face another tough challenge in Southeast Asian markets. Stores have strong connections with customers, but they often sell goods without collecting payment upfront , and collecting what they are owed often takes longer.

Ula will provide these micro-retailers with working capital that they can use to expand into other stores, rather than having to wait until they are paid what they are owed to buy new inventory.

Currently , Ula already operates in the fast-moving consumer goods and food and vegetable sectors. It also plans to expand its product range to the clothing market and eventually enter the electronics market.

E-commerce platform

Cross-border e-commerce market

Southeast Asia