GudangAda, an Indonesia-based e-commerce firm that works with SMEs, said today that it has secured US$100 million in a Series B investment round led by Asia Partners and Falcon Edge.
Existing investors Sequoia Capital India, Alpha JWC, and Wavemaker also participated in the round of investment.
GudangAda claimed that the financing round was oversubscribed, despite the company’s intended goal of raising $75 million. It boosted the company’s total financing to over US$135 million.
The funds will be utilized to support team expansion across key divisions and executional skills, as well as the development and enhancement of GudangAda’s ecosystem of service offerings, which includes logistics, POS SaaS, marketing, and data.
GudangAda also intends to increase its focus on Artificial Intelligence in order to deliver high-quality, personalized goods and services to merchant customers.