Startup "Quick Commerce" Astro Closes 64 Billion Rupiah Funding, Provides 15 Minutes Instant Delivery

Startups quick commerce Astro announced the acquisition of funding of $4,5 million (over IDR 64 billion) from a number of VCs, such as Global Founders Capital, AC Ventures, Lightspeed Venture Partners, and Goodwater Capital. Astro will use this fresh fund to build and strengthen the team, as well as expand the business area.

Astro has only been operating since September 2021, founded by Vincent Tjendra who previously worked at Tokopedia as AVP. Astro offers a concept quick commerce, sells more than 1.000 choices of quality products, ranging from daily necessities, such as snacks, vegetables, fresh fruit to over-the-counter medicines conveniently. Orders are targeted to be received by consumers in 15 minutes at affordable and competitive prices.

Investors said that services quick commerce Astro offers the fastest delivery experience for Indonesian consumers. Also supported by a founding team that has experience and expertise that synergizes to run quick commerce.

“We firmly believe in service 'quick commerce' Astro is able to change the way Indonesian consumers buy basic daily needs, electronics, snack to petfood. Global Founders Capital is honored to be able to support Astro from the earliest stage," said GFC Partner Melvin Hade in an official statement, Tuesday (2/11).

The fact that Indonesia is in the first place as the country with the most active online shopping population, gives confidence that Astro is here at the right time to answer the needs of consumers who want fast, economical, and safe things.

As many as 87,1% of internet users in Indonesia also revealed that they use shopping services online to buy certain products, including food and daily necessities. Astro will operate for 24 hours, but follow government regulations during the PPKM period.

Currently Astro has served requests in the Jakarta area only, with coverage areas of Senayan, Permata Hijau, Gandaria, Kuningan, SCBD, Kemang, Cilandak, Cipete, Puri Indah, Kebon Jeruk, Kelapak Gading, and Pantai Indah Kapuk. It is targeted that by the end of this year, the company will be able to serve all areas in Jakarta and parts of Greater Jakarta.

Previously, Dropezy also announced Series A funding to launch service quick commerce as the latest solution.

Industry competition online groceries

Industry online groceries has fierce competition, but still has high growth space because its penetration is still concentrated in big cities.

A report from Statista said that last year the online grocery market share in this country only reached 0,3%, it is predicted that it will increase by 20 basis points to 0,5% in 2022. The pandemic that hit the country is said to be one of the main factors that triggered the increase in the popularity of online grocery services among consumers.

According to the data, a further impact of the pandemic apart from changing consumer online buying behavior, is a change in consumer mindset in shopping. “Worried about the economic impact of the pandemic, many Indonesian consumers are becoming more budget conscious. In addition, the priority of purchasing basic necessities and health among consumers is also seen during the pandemic," the report said.