Warung Pintar raises US$4 million seed round
By Digital News Asia February 14, 2018
- The venture aims to revolutionise the grassroots retail industry through technology
- This round of funding helps Warung Pintar turn the prototype into a mass product
INDONESIA-based retail technology company Warung Pintar announced that it closed a round of US$4 million (RM15.76 million) in seed funding from SMDV, Digital Garage, East Ventures, Insignia Ventures Partner, Triputra Group and various angel investors.
Warung Pintar is a prefabricated kiosk with technology integration for Indonesian mom and pop shops (warung in Bahasa Indonesia).
Warung Pintar has two main objectives in expanding and upgrading the warung. By making technology the main "powerhouse" for these new-age traditional stalls, Warung Pintar aims to be a platform for technologies and applications for traditional Indonesian warung owners.
With a simple plug and play system, Warung Pintar invites products and services companies to use Warung Pintar as a distribution platform.
“We see Warung Pintar as a technology platform which connects multiple opportunities for our partners. We believe there is room to explore and we welcome more partners from both tech and non-tech companies. With this new funding we hope to develop a couple of hundred Warung Pintar this year,” says Warung Pintar CEO Agung Bezharie (pic, right).
“We have seen significant value creation by this product since the ideation within East Ventures to the first prototype when it hit the street. The seed round will help us accelerate product iteration to serve wider market and figure out the right business model. We are grateful that many investors understand our vision and support us at this early journey.” adds Willson Cuaca, managing partner of East Ventures and chairman of Warung Pintar.