Raksul and East Ventures "Joint" Provide Initial Funding for Prinzio

News of the expansion of international startups to Indonesia lately may have become commonplace. However, for the case Apostle, one of the startups engaged in the e-commerce sector and outsource printing from Japan, a little different. Raksul entered Indonesia through an investment for a local startup Prinzio.

Raksul and East Ventures invested $400.000 in seed funding for Prinzio. East Ventures will contribute $50.000 of the total funding. While Raksul will give the rest. With this investment, Raksul will own a 20 percent stake in Prinzio.

Raksul himself is currently a Japanese startup that has received five times funding. So far, the total funding obtained by Raksul has reached $51.6 million, with the last funding being Series C funding worth $33.7 million last February.

Raksul CEO Yasukane Matsumoto revealed that Prinzio is a startup that has potential in Indonesia. According to Yasukane, currently there is no e-commerce service that provides printing options in Indonesia.

"The players there are physical stores like Kinkos. You have to go pick up your order, and the traffic is so bad in a city like Jakarta. It's 'shop style' how people in the United States and Japan did their printing in the 80's and 90's -an," said Yasukane.

Prinzio, according to Yasukane, will take advantage of this opportunity by providing services that make it easier for customers to get services printing and get the results right at their home. Prinzio plans to start operating in January next year with Jakarta as the initial focus.

Responding to this funding, CEO Prinzio Riky Tenggara revealed that this funding will be used to find talent to strengthen its business.

"Most of the funds will go to operations and promotions," said Riky like quoted from TechIn Asia.