Marking the first-ever investment in Southeast Asia’s e-commerce space, Amazon founder Jeff Bezos took part in an $87 million Series B funding for an Indonesian startup Ula.
The e-commerce marketplace Ula said in a statement on Monday, October 4, that the Bezos Expeditions, Northstar Group, AC Ventures, and Citius participated in the round co-led by Prosus …
The startup that offers technology solutions to small retailers is seeking to expand its base to include more cities in Southeast Asia’s biggest economy, explore expansion across the re …
Marking the first-ever investment in Southeast Asia’s e-commerce space, Amazon founder Jeff Bezos has taken part in an $87 million Series B funding for an Indonesian startup Ula.
The e-commerce marketplace Ula said in a statement on Monday, that the Bezos Expeditions, Northstar Group, AC Ventures, and Citius participated in the round co-led by Prosus Ventures, Tencent, and B-Capital. The previous fundraising included a $10.5 million seed round in June 2020 and an additional $20 million Series A round in January.
The startup that offers technology solutions to small retailers is seeking to expand its base to include more cities in Southeast Asia’s biggest economy, explore expansion across the region, develop the buy-now-pay-later offering, and build a local supply chain and logistics infrastructure.
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The startup also named Pandu Sjahrir as an adviser. Sjahrir is holding commissioner roles at the Indonesia Stock Exchange, ride-hailing giant PT Aplikasi Karya Anak Bangsa, known as Gojek, and the local branch of Singapore’s Sea Ltd., which owns Shopee and online games developer Garena.
Ula is serving more than 70,000 traditional stores on its platform and offers more than 6,000 products.
