Warung Pintar Announces Initial Funding Of 55 Billion Rupiah

Smart Shop, a startup that carries the concept of a future stall with the support of East Ventures, announced the acquisition of initial funding of $4 million or 55 billion Rupiah from a consortium of investors consisting of SMDV, Digital Garage, East Ventures, Triputra Group, and several angel investors. The funds obtained will be focused on developing prototypes into mass production with a target of several hundred Warung Pintars in the Jabodetabek area this year.

Starting from the East Ventures CSV (Creative Shared Value) project, the concept of the warung was chosen because it is considered to have become a culture of people's lives in Indonesia. Smart Shop wants to empower segments of society that have not been exposed to the digital world much. Warung Pintar itself is a factory-assembled kiosk that integrates technology with traditional stalls.

Currently Warung Pintar implements a number of East Ventures portfolios in its operations. Warung Pintar cashiers use the MokaPOS system, while financial and accounting records use the Journal system. Customers can also top up their credit and buy tickets and other items through Kudo. Product procurement and distribution system last mile provided by Do-cart. Waresix managed warehouse distribution system. In addition, all the stalls are always ready to meet the needs of the customers co-working space EV Hive.

Warung Pintar CEO Agung Bezharie said, “We see Warung Pintar as a technology center that can connect various opportunities for our partners and of course there are still many opportunities that can be explored further. Therefore, we warmly welcome anyone who wants to join as a Warung Pintar partner, both from technology and non-tech companies. In addition, through this funding, we plan to open hundreds of new warungs this year.”

To DailySocial, Agung said, "We will aim to be able to reach all of Indonesia. For this year we are using the system clustering so that the spread is more focused starting from Jabodetabek and then spreading to the surrounding area. We are targeting a few hundred [Warung Pintar] this year with a variety of different models, sizes and types."

There are 3 types of stalls offered by Warung Pintar. They are Normal, Small, and Kiosk. Regarding the strategy to acquire partners, including helping with funding for those who want to own a Warung Pintar unit, Agung said, "We have several types of products with different initial capital, with range price 38-54 million Rupiah. We [also] continue todevelop product according to need user we. In addition we also offer [program] financing who collaborated with several bank to be able to help with capital solutions user we."

Managing Partner of East Ventures Willson Cuaca added, "The added value of this product has been obvious since it was just an idea in an internal East Ventures discussion to the establishment of the first Warung Pintar on Jalan Satrio. This fund will be used to improve product development (including R&D in the IoT, big data, and blockchain areas) ) and reach a wider market and find the right business model."