Total amount raised
$36.6 Millions
Latest funding date
07/01/2024
Location
Dagangan has successfully raised $18.5 million in its latest funding round, supported by investors such as Kejora-SBI Orbit and W inc. The platform provides tech-enabled commerce services, offering affordable daily necessities to rural communities in Indonesia.
Keep reading to explore the intricacies of Dagangan's fundraising journey and the investors backing this innovative platform.
What Is Dagangan?
Dagangan, founded in 2019, is a tech-enabled commerce platform based in Kembangan, Jakarta Raya, Indonesia. The company focuses on providing affordable daily necessities to rural communities through its innovative micro-hubs and wholesale shopping services.
Founded by Ryan Manafe and Wilson Yanaprasetya, Dagangan empowers local SMEs and micro-entrepreneurs by sourcing products from them and offering a one-stop solution for retailers in tier 3-4 cities. This approach helps large producers penetrate remote areas more effectively.
With a workforce of 251-500 employees, Dagangan continues to expand its reach, covering over 20,000 villages and supporting 75,000+ retailers and warung owners. Their impact-driven model has created over 800 jobs and significantly improved local economies.
How Much Funding Has Dagangan Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: April 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the initial operations and develop the tech-enabled commerce platform.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2021
- Lead Investors: CyberAgent Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's reach and enhance its technological capabilities.
- Series A
- Amount Raised: $11.5M
- Date: September 2021
- Lead Investors: Monk’s Hill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and penetrate deeper into rural markets.
- Series B
- Amount Raised: IDR95B (approximately $6.5M)
- Date: June 2022
- Lead Investors: BTPN Syariah
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further support small and medium enterprises in rural areas and enhance the platform's infrastructure.
- Venture Round
- Amount Raised: $18.5M
- Date: July 2024
- Lead Investors: Kejora-SBI Orbit
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's services and improve access to daily necessities in rural communities.
Total Amount Raised: $36.5M
Current Valuation: Not publicly disclosed
Key Investors
- Kejora-SBI Orbit
- Details: Kejora-SBI Orbit is a collaboration between Kejora Capital and SBI Holdings, focusing on early-stage investments in Indonesian startups.
- Investment Focus Areas: Early-stage startups, Indonesian market.
- Notable Investments: Dagangan.
- BTPN Syariah
- Details: BTPN Syariah is an investment firm that has shown interest in supporting small and medium enterprises in rural areas.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
- Monk’s Hill Ventures
- Details: Monk’s Hill Ventures is a venture capital firm that invests in early-stage technology companies in Southeast Asia.
- Investment Focus Areas: Technology, Southeast Asia, early-stage companies.
- Notable Investments: Dagangan.
- CyberAgent Capital
- Details: CyberAgent Capital is a venture capital firm that focuses on internet-related businesses and startups.
- Investment Focus Areas: Internet businesses, startups, technology.
- Notable Investments: Not publicly disclosed.
Information about other investors or their notable investments was not found in the provided sources.
What's Next for Dagangan?
Dagangan's future looks promising as it continues to expand its reach in tier-three and tier-four cities in Java, Indonesia. The company's hub-and-spoke delivery model supports small and medium enterprises (SMEs), presenting a significant growth opportunity. By reducing selling prices by 20% and potentially doubling the revenue of participating retailers, Dagangan is well-positioned to capitalize on the large market in rural areas.
With the recent funding from the Kejora-SBI Orbit Fund and the potential for future investments through Maven Asia Capital, Dagangan is poised for further growth. The focus on supporting early-stage startups and technology-driven sectors aligns well with Dagangan's mission, indicating strong future fundraising opportunities.
However, scaling operations in rural and less developed areas presents logistical and infrastructural challenges. Competition from other startups and established companies in the rural commerce sector could also pose hurdles. Despite these challenges, the continued interest in supporting SMEs and rural commerce suggests that Dagangan may attract further investments as it scales its operations.
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