Advotics as a SaaS supply chain startup for brands and SMEs, today (02/3) announced $2.75 million (nearly 40 billion Rupiah) funding led by East Ventures, the previous investor that also lead the seed round in May 2019. The fresh money will be used to expand the solutions to the SME market and added more sales teams.
Advotics provides SaaS solutions to support brands to understand, monitor, and manage their supply chain systems by providing an integrated platform across all distribution points.
Advotics’ Co-Founder & CEO, Boris Sanjaya said, Indonesia is a large market for technology solution businesses for corporations. The software market value in the country is estimated at $3 billion and this number will continue to grow as more companies move towards digitization.
“There are millions of manufacturing and distribution companies in Indonesia, from small companies to giant companies. We believe that the software market for corporations in Indonesia will continue to grow as more companies join the digital transformation trend,” he said in an official statement, Tuesday (2/3).
On the one hand, the current restrictions as an impact of the pandemic pose various challenges for companies that still depend entirely on officers on-site to monitor and manage distribution. These constraints made them realize the urgent need for a retail and distribution management system, a solution offered by Advotics.
Boris revealed that the company has collaborated with more than 70 companies engaged in various industrial sectors, such as FMCG, automotive, and construction materials. They come from the SME level to multinational corporations, including Exxonmobil, Danone, Reckitt Benckiser, Sampoerna, Kalbe, and Mulia Group.
Advotics has nine SaaS products that provide various solutions to be implemented for production, warehousing, and distribution stages. By using QR codes printed on product packaging, they assist brands in tracking the movement of goods at each distribution point, including information about sales team activity and stock vacancies. The company has also developed its system to include solutions for inventory, routing, and collection.
“Advotics is also able to provide solutions to supply chain problems that have long tortured the company in terms of warehouse operations, efficient delivery, and sales team delivery by utilizing advanced technology,” Jeffry Tani, Co-Founder & CPO Advotics added.
As previously mentioned, fresh funds will be used to expand the solutions to the SME market, by providing an integrated online-to-offline system. In addition, part of the remaining portion will be used to expand the company’s sales team.
Advotics Co-Founder & CTO Hendi Chandi said, the company is currently building a platform that connects brands with supply chain points that are outside the modern ecosystem. “Armed with our experience in providing practical solutions using the latest technology, we are confident that Advotics’ solutions are ready to use, easy to use, and always connected to help SMEs be more competitive.”
In his remarks, East Ventures’ Co-Founder & Managing Partner, Willson Cuaca, also gave his comments. “The Advotics team is not only able to survive amid the pandemic but is getting stronger. We are confident that this funding will accelerate the achievement of Advotics’ mission, to digitize Indonesia’s supply chain and distribution ecosystem.”
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Original article is in Indonesian, translated by Kristin Siagian