Global Founders Capital (GFC) recently led a series A funding in Indonesia’s supply chain startup Klikdaily, the amount remains undisclosed.
Klikdaily helps mom-and-pop stores to secure their supply chain from principals - getting a variety of products from many brands at a competitive price. Founded by Amos Gunawan in 2017, the startup serves as a one-stop solution provider that helps with delivery to its partners, and with the reporting and management as well.
Previously, GFC also led Klikdaily’s pre-series A funding in mid-2019, which was also participated by Pegasus Capital (formerly known as Fenox Venture Capital), FundedHere, and Teja Ventures.
Melvin Hade, partner at GFC in Indonesia said that the investment was made due to the strong progress of Klikdaily and how GFC sees Klikdaily as one of the largest players in the FMCG space. By May, Klikdaily claims to grow by more than 700% compared to 2019 year-on-year. It currently operates in Jabodetabek area, West Java and Central Java, serving more than tens of thousands mom-and-pop stores spread in 600 districts within. Moreover, there’s a big market potential in Indonesia.
“The consumer market is a very large space and ripe for disruption especially in second/third-tier city and that it is recession-proof. The current health climate does not hinder them from growing rapidly just like pre-COVID-19 situation,” Melvin says.
During the COVID-19 pandemic, Klikdaily has seen surging demand in pre-packaged food and beverages, as well as staple food. It has been working with the government to ensure food security, distribution, market price stability, and cheaper delivery cost to its partners - which is also one of the competitive advantages that the Berlin-based backer sees in Klikdaily.
The startup will use the fund to focus on technology and infrastructure development to reach wider penetration of SMEs across Indonesia. It will replicate its successes and build more distribution centers in major cities in Indonesia until the end of year; whereas on the tech side it will improve data analytics for principals and mom-and-pop stores alike.
The current challenging time of the COVID-19 pandemic does not prevent GFC to continue actively backing startups across all sectors in Indonesia and Southeast Asia. The venture capital firm focuses on funding pre-seed to series A round, with cheque size ranging from $250,000 up to $10 million, and more for series A and later. GFC is also expanding its portfolio management team and establishing its presence in Vietnam, another key market in the region.
“We will first prioritize our time and efforts to support our portfolio companies in 2020 through this COVID-19 pandemic and that we take the right steps and measures to cope with the “New Normal” post-Covid 19 both on the business side as well as the fundraising side,” says Melvin.
Melvin Hade is an honoree of Forbes Indonesia 30 Under 30 2020 under the Venture Capital category.