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[Funding alert] Indonesia startup Ula raises $20 M in Series A round led by Quona Capital and B Capital Group

[Funding alert] Indonesia startup Ula raises $20 M in Series A round led by Quona Capital and B Capital Group
The new funding will allow Ula to grow its geographical footprint, expand the startup s suite of products and services, and move into new categories.
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Ula, an Indonesia-based marketplace app that uses technology to modernise distribution and credit for small retailers, has raised $20 million in a Series A funding round led by
Quona Capital and
Lightspeed India and Sequoia Capital India, also participated in this round.
Quona Capital was also a key participant in Ula’s seed round of ....

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Ula raises $20 million to expand its e-commerce marketplace in Indonesia – TechCrunch

Ula raises $20 million to expand its e-commerce marketplace in Indonesia
Tokopedia, Lazada, Shopee, and other firms created an e-commerce market in Indonesia in the past decade, making it possible for consumers to shop online in the island nation. But as is true in other Asian markets, most small retailers and mom-and-pop stores in the Southeast Asian country still face a myriad of challenges in sourcing inventory and working capital, and continue to rely on an age-old supply chain network.
Nipun Mehra (a former executive of Flipkart in India), Alan Wong (who previously worked with Amazon), Derry Sakti (who oversaw consumer goods giant P&G’s operations in Indonesia), and Riky Tenggara (former Lazada and aCommerce), began to explore opportunities to address this in 2019. ....

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Indonesian B2B marketplace Ula raises $20m Series A led by Quona, B Capital

Indonesian B2B marketplace Ula raises $20m Series A led by Quona, B Capital
Left to right: Ula’s founders Riky Tenggara (co-founder and COO), Derry Sakti (co-founder and CCO), Nipun Mehra (co-founder and CEO), Alan Wong (co-founder and CTO)
January 28, 2021
Jakarta-based wholesale e-commerce marketplace Ula has raised $20 million in a Series A round led by existing investor Quona Capital and B Capital Group. Existing investors Sequoia Capital and Lightspeed also participated in the fundraising.
Despite the pandemic, Ula, founded in January 2020, reached more than 20,000 stores across Indonesia. It plans to utilise the fresh capital to reach smaller retailers and further expand in Indonesia. ....

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