Fresh Factory, an Indonesia-based firm for cold-chain fulfilment, has received $4.5 million in initial investment from a round-headed by East Ventures.
A network of hyperlocal cold-chain fulfilment hubs is managed by Fresh Factory. Currently, it operates more than 20 warehouses in Bali, Java, Sumatra, and Sulawesi.
The money obtained will be used to build new warehouses in larger towns of Sumatra and Sulawesi as well as smaller cities in Java. According to the business, a portion of the funds obtained will also be used to hire personnel and advance technology.
The money will expedite Fresh Factory’s aim of assisting businesses in Indonesia, particularly SMEs, in fostering development and growing their operations, according to co-founder and CEO Larry Ridwan.
