June 29

Indonesia’s Fresh Factory Secures $4.5 Million Seed Funding Led by East Ventures

Fresh Factory, an Indonesia-based integrated cold chain fulfillment and enabler startup, announced Monday that it has secured $4.5 million of seed funding led by East Ventures.

The round also saw the participation of PT. Saratoga Investama Sedaya TBK, Trihill Capital, Indogen Capital, Prasetia Dwidharma, Number Capital, Y Combinator, and angel investors, Fresh Factory said in a statement.

According to the statement, Fresh Factory will allocate the fund to further expand the warehouses to all secondary cities in Java, and main cities in Sumatra and Sulawesi. The firm will also invest in talent and technology to boost adoption and reach operational excellence.

“This investment served as a strong testament to the solution provided by Fresh Factory in bringing new innovation to the cold chain management industry in Indonesia. This fund will accelerate our mission of supporting all the business players in Indonesia, especially small and medium-sized enterprises (SMEs) in driving growth and scaling their businesses,” said Larry Ridwan, Founder and Chief Executive Officer of Fresh Factory.

Photo courtesy of Pixabay.

Source: TechNode Global (link opens in a new window)

impact investing, startups