Supply Chain Startup "Baskit" Raises 23 Billion Rupiah Pre-Up Funding

A startup focused on supply chain digitization, Baskit, announced a pre-seed funding of $1,5 million or around 22,6 billion Rupiah. This funding round was led by Forge Ventures, with co-investments from Sketchnote Partners, DS/X Ventures, Prasetia Ventures, and several angel investors global and regional leader.

The company has received initial support from well-known investors and industry veterans, such as Shafie Samsuddin (Chairman of Petronas, Former CEO of Transmart and AEON), Founder and CEO of Modalku Reynold Wijaya, COO Fung Investments Ankit Sethi, APAC management (Jakob Angele, Pedram Assadi, and Arun Makhija), Arya Setiadharma, Hugo Barra, and others.

Baskit was founded in mid-2022 by Yann Schuermans, Yoonjung Yi, and Yasser Arafat. The company realizes that in Indonesia, traditional distribution chains are often less effective at the middle layer, resulting in many obstacles, including stock out products, lack of data completeness, and losses due to expired products.

Baskit believes there are efficiency opportunities in strengthening distributors and wholesalers who form layers with commercial and technological support. It has the ambition to become the technology partner of choice for business people so that it can open up new opportunities, as well as reach and promote financial inclusion in rural areas.

Baskit CEO Yann Schuermans revealed that his party strives to become a leading supply chain provider by maintaining a collaborative ecosystem and accelerating infrastructure and partnerships. His party saw a downward trend in sales in E-commerce because of activity offline back up.

He also mentioned the situation new normal giving rise to changes in consumer behavior and supply chain pressures such as inflation. "With the support of the Baskit platform, we can play a role in restoring traditional trade, and pave the way for healthier supply chains on all fronts," he added.

After officially launching in November 2022, Baskit claims to have experienced quite rapid business growth, doubling per month. It is taking a strong regional approach with a focus on key cities and establishing important partnerships with brand owners and distributors to continue its expansion plans.

Forge Ventures Partner Tiang Lim Foo added, there is great potential in Baskit's mission to empower traditional supply chains in Indonesia. "We believe in the company's vision. Baskit's innovative approach will drive sustainable change and open new opportunities for all stakeholders in the distribution ecosystem."

Business model and targets

Through this funding, Baskit plans to improve the quality of technology, develop a team of industrial practitioners, and expand partnerships. Since operating at the end of 2022, Baskit claims to have reached many markets in West Java and Jabodetabek. Currently, Baskit has a total of 20 employees.

Baskit is also committed to supporting the digitalization of Indonesia's distribution chain. In the process of supporting thousands of local entrepreneurs, Baskit focuses on the distribution chain layer and creates a more efficient supply chain with better visibility and access to financing.

There are three main solutions offered by Baskit, including features to increase sales, digital tools for operational efficiency (for example, inventory management and basic bookkeeping), and access to working capital which has been channeled through the KoinWorks platform and will soon add options via other platforms.

"The funds raised will be used to expand our geographic reach in West Java and Central Java, while looking for relevant leaders to improve our technology and complete the brand and distributor collaboration line targeted in the second semester of 2023." Close Yann.

Baskit positions itself as supply chain enabler. In Indonesia, most of the solutions provided are e-commerce enablers, including aCommerce, SIRCLO, and JetCommerce. Some new players in this space, viz Helloshop who focus on omnichannel, and plug which has just received funding.

- Disclosure: DS/X Ventures (part of DailySocial Group) is one of Baskit's investors