Manuva Receives Fund Injection of 46 Billion Rupiah from Tin Men Capital

Manufacturing platform startup Manuva received funding from Tin Men Capital worth $3 million or the equivalent of 46 billion Rupiah. This investment adds to the total funds being collected by the company worth $8 million 123 billion Rupiah.

Previous Vertex Ventures and a number of investors have provided funding to the startup founded by Anggara Pranaspati, Hasandi Patriawan, and Rafisal Damanhuri.

After doing rebranding from Tjetak In 2022, Manuva will now focus on manufacturing products and services for MSMEs. A number of products are produced, such as food packaging, shopping bags, bottles, and so on which are usually ordered by MSMEs with special customization according to brand which is owned.

Manuva services are also equipped with integrated logistics, procurement, inventory and sales systems. The aim is to streamline the supply chain for these manufactured products --- which were previously considered to often experience inefficiency, resulting in higher selling prices.

Manuva also spawned a number brand ready for distribution to make it easier for MSMEs to obtain various packaged products. For example Super (Rice Paper), Eracup (Plastic Cup), and Erapack (Food Box). Meanwhile, for the business model, apart from direct to consumers, they also have a Manuva Retail Partner agency system to maximize product penetration.

Manuva has over 100 manufacturing partners who can produce over 300 different packaging SKUs under their 6 private brands for over 7000 retail customers and 100 enterprise customers.

Tin Men Capital itself is a venture capital from Singapore whose investment hypothesis focuses on the B2B area. The investment poured into Manuva came from managed funds Fund II closed in Q3 2022. In addition to capital investment, the Tin Men team will dedicate as advisor strategic to support Manuva's business growth and expansion.

Through the fresh funds obtained, Manuva plans to expand its business by developing new product categories, including packaging that can biodegrade. They are also planning the development of new categories such as semi-branded goods and offering a more complete range of digital products for manufacturers to increase their capacity utilization. The market focus will also be expanded by adding distribution points to the islands of Java, Bali, Sumatra and a number of large cities in Indonesia.

In Indonesia itself, there are a number of startups that play in manufacturing product development. One of its closest competitors is Imajin. Early this year imagination announced seed funding led by East Ventures. Previously they had also received support from Init-6, a venture capital founded by founder Bukalapak.