Printerous Receives Series A Funding, Focuses on Launching Expansion (UPDATED)

Print and service provider online platform the packaging Printerous announced the acquisition of series A funding from BAce Capital, AddVentures, GDP Ventures and Gobi Agung. Previous investor Sovereign's Capital also took part in this round.

The investment obtained will be used to develop technology infrastructure and expand the network to 30 new cities in Indonesia, including building a sustainable business model. Printerous claims that the company is currently in a profitable condition, so the focus this time is funding for expansion, both in terms of business and product coverage.

"Market printing in Indonesia reached US$14,5 billion in 2019, this potential is still very large because the majority are still using conventional printing. This is what makes us continue to improve technological innovations to help SMEs with design, print and distribution solutions. This online printing innovation will make the process more practical, efficient and transparent," said Kevin Osmond, Founder & CEO of Printerous DailySocial.

Since launching in 2012, Printerous has worked with more than 250 printers and has helped more than 35 thousand business people. Along the way, they still face several problems, one of which is market education. Because in Indonesia the services that are carried are still relatively new.

"We collaborate with printing and logistics partners, so as to create printing solutions that are easy, transparent and cost-effective. This business model has been implemented in emerging markets such as Japan, China, the United States and Europe, where the printing industry that is often considered conventional has turned into a digital," explained Kevin.

GDP Venture CEO Martin Hartono stated that support for local startups must continue to be carried out for the development of the domestic industry. "We always support local Indonesian companies that can develop new solutions, such as Printerous in the printing industry and the packaging."

"Printerous is able to empower traditional industries with technology and other additional services, making it profitable for both printers and users. Printerous is one of the startups from Indonesia that we believe has great opportunities." said Mulyono as Managing Director of BAce Capital.

Previously the company got A pre-series funding worth 18 billion Rupiah, led by Golden Gate Ventures and followed by Sovereign's Capital and Gunung Sewu Kencana.

Update: Changes in market printing numbers in 2019