Tjetak Changes Name to "Manuva", Expands Business Coverage

Almost two years post-acquisition of series A pendanaan funding, startup Tjetak announced it had changed its name to Manuva. This step was taken to mark the expansion of solutions that are not only focused on the packaging industry, but also electrical and garments in Indonesia.

Manuva Co-founder Anggara Pranaspati said the name 'Manuva' describes the company's maneuver to develop a digital manufacturing ecosystem from upstream to downstream. In line with his business journey, Manuva believes that small and medium-sized manufacturers have the potential to grow. Moreover, Indonesia is in the top ten largest manufacturing countries in the world.

"Manuva focuses on collaborating with small and medium-sized manufacturing companies that have not yet reached maximum capacity utilization or an average of only 60%. We help optimize their capacity by producing finished goods for the retail market or receiving production orders from brand others," he said in an official statement.

Offer three main services

For your information, Tjetak or Manuva was founded by Anggara Pranaspati, Raffisal Damanhuri, and Hasandi Patriawan in 2018. Manuva offers solutions to assist the buying and selling process of finished goods, custom, and raw materials through three main services, namely Manuva Retail, Manuva Procure, and Manuva Supply.

Manuva Retail opens a distribution network so that customers of Manuva retail stores can sell finished products from manufacturing partners in their respective stores. Manuva's distribution network has reached thousands of retail outlets in five provinces and 48 cities/districts.

Then, Manuva Procure is a system e-procurement which brings together business people with manufacturers to procure custom goods. Manuva seeks to reach B2B customers across Indonesia by offering more credibility to the bidding process, production and final quality control.

Meanwhile, Manuva Supply serves manufacturers to receive orders, manage production, and purchase raw materials. Currently, Manuva has partnered with more than 250 small and medium scale manufacturing plants spread across five cities hub on the island of Java.

Business expansion

This year, Manuva is aiming for a distribution expansion strategy to the islands of Java, Bali, Sumatra, and a number of other big cities. This expansion is also in line with efforts to enter new industrial segments, namely the manufacture of electrical and garment products.

To digitize the manufacturing ecosystem and supply chain in Indonesia, Manuva also focuses on increasing production capacity utilization through two manufacturing partner sales channels, namely retail stores and B2B. According to him, they provide support not only in increasing sales, but also in the efficiency of the process of purchasing raw materials to access to working capital from LJK partners (Financial Services Institutions).

According to his records, Manuva's manufacturing partners can increase production machine utilization by up to 25% higher. This figure is considered to indirectly make the selling price of partner products more competitive. Meanwhile, Manuva said that he had posted business growth with a positive contribution margin in the second half of 2022.

"Seeing the growth potential of small and medium-sized manufacturing businesses in Indonesia, we are optimistic that we can deliver innovations to increase the productivity of the digital manufacturing ecosystem." Close Anggara.

Manuva last received series A funding from Vertex Ventures with an undisclosed amount. Meanwhile, Vertex Ventures invests primarily in Southeast Asia and India. A number of portfolios in Indonesia, including Dailybox, HappyFresh, and Payfazz.