Funding Roundup: Astro, Hitpay, MoEngage and More Secure Funds
It has been an outstanding week for startups in the e-commerce, logistics and supply chain space. In this week’s Ecosystem Funding Roundup, we are thrilled to feature 6 of their outstanding achievements:
Astro Series B Funding
Founded in 2021, Indonesia-based Astro offers 15-minute grocery delivery to customers within a range of 2-3km. The company has recently closed a $60M Series B round led by Accel, Citius and Tiger Global, bringing its total investment to more than $90M since its inception in September 2021. According to TechCrunch, the funds raised will be used to enrich product capabilities and grow its diverse team.
Year Founded: 2021
Founders: Jessica Stephanie Jap, Marcella Moniaga, Sherlyn Gautama, Vincent Tjendra, Wandi Budianto
Location: Jakarta, Indonesia
Latest Funding: $60M Series B
Lead Investors: Accel, Citius and Tiger Global Management
Hitpay Series A Funding
HitPay, a one-stop payments platform for small and medium-sized enterprises (SMEs), secured a total of $15.75M Series A funding. With a mission to empower SMEs with easy, accessible digital payments, Hitpay currently serves more than 100,000 merchants, with an eightfold increase in transaction payment volume since 2021. The fresh capital will go towards the development of its platform to become the best payment gateway for SMEs.
Year Founded: 2016
Founders: Aditya Haripurkar, Nitin Muthyala
Latest Funding: $15.75M Series A
Lead Investors: Tiger Global Management
Super Series C Funding
Indonesia’s Super is a social commerce startup that streamlines the supply chain, thus making it easier for FMCG brands to reach its consumers in rural areas. Following the latest $70M Series C, Super is going after a huge untapped market; a portion of the funding will be reserved for machine learning applications, while the remainder will be used to provide access to consumers in Kalimantan, Bali, East and West Nusa Tenggara, Maluku and Papua.
Year Founded: 2018
Founders: Debeasinta Budiman, Steven Wongsoredjo
Location: Surabaya, Indonesia
Latest Funding: $70M Series C
Lead Investors: NEA
Shopstar Venture Funding
Shopstar is a South African cloud-based company empowering local entrepreneurs through e-commerce solutions that help launch and scale their businesses. As opposed to the bigger international platforms, Shopstar’s entire focus is on growing the South African entrepreneurial ecosystem. A few days ago, the startup announced its third round of undisclosed funding from Launch Africa Ventures, signaling a new phase in its growth strategy.
Year Founded: 2013
Founders: Jens Herf
Location: Capetown, South Africa
Latest Funding: Series Undisclosed
Lead Investors: Launch Africa Ventures
MoEngage Series E Funding
MoEngage is a customer analytics and cross-channel engagement platform that has raised $77M to enter new territories, while expanding its footprint in the existing markets. The Series E, which was co-led by Goldman Sachs and B Capital, also saw participation from existing investors such as Steadview Capital and Eight Roads Ventures. With its headquarters in 11 countries, MoEngage has worked with big names including Domino’s, Flipkart and Sharechat.
Year Founded: 2014
Founders: Raviteja Dodda, Yashwanth Kumar
Location: San Francisco, United States
Latest Funding: $77M Series E
Lead Investors: Goldman Sachs, B Capital
FinditParts Series A Funding
FinditParts, an online marketplace for heavy duty truck and trailer parts, has just completed a $30M Series A. Led by CEO David Seewack, FinditParts aspires to revolutionize the Commercial Vehicle Aftermarket (CVA) and connect buyers and sellers through visual recognition technology. On top of fuelling their “continued growth”, the money will also provide valuable partnership opportunities to further strengthen their position as a market leader.
Year Founded: 2010
Founders: David Seewack
Location: Los Angeles, United States
Latest Funding: $30M Series A
Lead Investors: Crestline Investors Inc.
A huge congratulations to all the companies mentioned and we are looking forward to witnessing your growth in the months to come!
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