“SaaS Supply Chain” Startup Advotics Receives Funding Again From East Ventures [UPDATED]

Advotics as a SaaS startup supply chain leaders for brand and SMEs, today (02/3) announced a $2,75 million (nearly 40 billion Rupiah) funding round led by East Ventures, the previous investor who led early stage round in May 2019. The fresh funds will be used to expand the scope of solutions to the SME market and team expansion Sales.

Advotics provides helpful SaaS solutions brand to understand, monitor and manage their supply chain system by providing an integrated platform across all distribution points.

Advotics Co-Founder & CEO Boris Sanjaya said, Indonesia is a big market for technology solutions business for corporations. The estimated value of the software market in the country is $3 billion and this figure will continue to grow as more companies move towards digitization.

“There are millions of manufacturing and distribution companies in Indonesia, from small companies to giant companies. We believe that the software market for corporations in Indonesia will continue to grow as more companies join the digital transformation trend," he said in an official statement, Tuesday (2/3).

On the one hand, the current restrictions on mobility as a result of the pandemic poses various challenges for companies that still rely entirely on officers in the field to monitor and manage distribution. These obstacles made them realize the urgent need for distribution and retail management systems, solutions offered by Advotics.

Boris said that currently the company has collaborated with more than 70 companies engaged in various industrial sectors, such as FMCG, automotive, and construction materials. They come from the SME level to multinational corporations, including Exxonmobil, Danone, Reckitt Benckiser, Sampoerna, Kalbe, and the Mulia Group.

Advotics has nine SaaS products that provide a variety of solutions that can be applied in the production, warehousing, and distribution stages. By using the QR code printed on the product packaging, they help brand in tracking the movement of goods at each distribution point, including information on team activities Sales and out of stock. The company has also developed its system to include solutions for inventory, routingand collection.

“Advotics is also able to provide solutions to supply chain problems that have been difficult for the company in terms of warehouse operations, shipping line efficiency, and team delivery. Sales by utilizing advanced technology,” added Advotics Co-Founder & CPO Jeffry Tani.

As mentioned earlier, the fresh funds will be used to expand the scope of solutions to the SME market, namely by providing a system online-to-offline integrated. In addition, the remaining portion will be used for expansion of the company's sales team.

Advotics Co-Founder & CTO Hendi Chandi said the company is currently building a platform that connects brand with supply chain points that are outside the modern ecosystem. “Based on our experience in providing practical solutions using the latest technology, we are confident that Advotics solutions are ready to use, easy to use, and always connected to help SMEs be more competitive.”

In his remarks, Co-Founder & Managing Partner of East Ventures Willson Cuaca also provide feedback. “The Advotics team is not only able to survive in the midst of a pandemic, but is getting stronger. We are confident that this funding will accelerate the achievement of Advotics' mission, namely the digitization of Indonesia's supply chain and distribution ecosystem."

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*We added information regarding the amount of funding.