Get Series A Fresh Funds, This Is What Fresh Local Startups Will Do

The grocery social commerce startup announced a Series A funding of US$16 million or equivalent to Rp 227.6 billion. This Series A funding was led by Go-Ventures with participation from Susquehanna International Group (SIG), and various strategic investors such as Alfamart, Gunung Sewu Group (one of the agricultural and food group companies in Indonesia), and Intrinity Capital which is affiliated with Gulaku. BEENEXT, AC Ventures and Saison Capital, which are Segari investors since the early stages (seeds) are also involved in this funding round.

Yosua Setiawan, CEO of Segari said Segari will use the latest funding to strengthen infrastructure, ensuring a more efficient process from farmers to consumers. According to Joshua, this is done so that Segari can grow bigger and be able to provide positive social impacts for local farmers.

“The agricultural distribution chain is one of the most complex problems in Indonesia. There are still many layers from farmers to agricultural products to consumers. We hope to have a positive impact where consumers can receive quality food ingredients faster and at lower costs. On the farmer's side, we also help them to receive a fair price for the products they sell.” said Joshua.

Furthermore, Yosua said, in less than 12 months since it started operating, this startup has become the choice of residents of Jakarta and its surroundings in meeting the needs of fresh products. The proof, the company managed to increase the number of users, orders, and revenue more than 20 times.

The startup, founded in 2020, is committed to simplifying the complex distribution chain in Indonesia by leveraging technology and empowering communities as partners in additional efficient sales and distribution.

In order to access a variety of Segari products, ranging from fruits, vegetables, meat, to staple foods, customers can place orders directly through the Segari website or application. In just 15 hours, fresh food products will reach consumers from farmers.

Most of Segari's fresh produce is sourced directly from partner farmers in Java and Sumatra. Through a decentralized warehouse and network of sales partners, Segari has faster delivery times, better product quality, and lower costs that customers can enjoy.

Aditya Kamath, Partner, Go-Ventures said, the current covid-19 pandemic has become a catalyst for the growth of the online market (e-grocery) in Indonesia. More and more consumers are turning to online purchases, especially shopping for their daily needs.

“Segari is growing in no time and still maintains the simplest economic unit within the sector. They are the right team to solve one of the most pressing problems in Indonesia, namely the complex agricultural distribution chain, which makes investors not hesitate to invest,” said Aditya Kamath.