Business Growth Claims, Ula Expands Partnership and Digital Adoption

Established in early 2020, Ula is a platform that helps micro-entrepreneurs in Indonesia describe their business growth. Despite the pandemic, the company has grown 30x since its launch and has reached more than 7 thousand active users who are partners.

Ula, which started operations in Surabaya earlier this year, has rapidly expanded its reach across East Java and recently launched its business in Semarang, Central Java.

After being in business for 9 months, Ula noted some customers have enjoyed the processes offered through the app. This process makes it easier for them to buy in bulk in one place and then send it directly to their shop. In conjunction with fulfillment service. The company is also piloting other initiatives that will improve engagement and service to customers.

"Ula's focus is on offering the greatest variety at the best prices for merchant. Ula works closely with many third-party service providers, such as field sales agents and logistics providers. Separately, we also work with partners who share the same vision and mission. We are in talks with several parties but because the discussions are private, we cannot provide details yet," said Ula Derry Sakti, Co-Founder of CCO.

Last June 2020, Ula announced the acquisition of initial funding worth US$10,5 million or equivalent to 148 billion Rupiah. The investment round was led by Sequoia India and Lightspeed India, with the involvement of SMDV, Quona Capital, Saison Capital and Alter Global. A number of angel investors also participating, including Patrick Walujo, Willy Arifin, Sujeet Kumar, Vaibhav Gupta, Amod Malviya, Rohan Monga, and Rahul Mehta.

Expand partnerships, expansion and fully in digital

In his business execution, Ula tries to provide training to customers to be able to adopt digital services. The sales team works closely with shop owners to train them to use the app. Ula tries to encourage stall and shop owners to place their own orders on the app. The company is currently developing AI powered chat-bot, to allow them to order through chat.

"Our idea is simple, technology allows them to order when they need things, not just when the team Sales just make a visit. If they can order only when they need something, they will order small quantities and order more often. That way, they don't have to predict demand 1 or 2 weeks in advance. So it can minimize stock outs or buy too many items that don't sell," said Derry.

This year until 2021, there are still many plans and targets to be achieved by the company. Starting from continuing to expand, to ensuring the company can reach more shops and stalls to join as partners. The company will also continue to add new categories including staples, fresh produce and others relevant to partners. The company will also add more categories beyond everyday necessities.

"In 2021, we will also add a variety of new services. For example, financial services in partnership with licensed lenders, data services and marketing for brand who need to educate retailers about their new products, helping new and upcoming brands reach a wider audience. We will also provide the technology products that stores need to manage and grow their own business," said Derry.

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