Manuva, an Indonesian-managed marketplace that enables consumer brands and other trade buyers to procure packaging from SME manufacturers with greater efficiency, scale, and quality control, has raised $8 million in funding in total. Tin Men Capital, a venture capital firm based in Singapore that specializes in Southeast Asian B2B tech startups, has invested $3 million in the financing round.
According to a statement released on Monday, Manuva also offers cutting-edge digitisation tools that allow participants in their ecosystem to significantly enhance their logistics, procurement, inventory, and sales processes.
The second investment from Fund II, which first closed in Q3 of 2022, is Manuva. Tin Men Capital is led by Co-Founders Jeremy Tan and Murli Ravi. Tan is an experienced investor who has held senior executive positions at numerous large, multinational companies, including the Trafigura Group, Thomas H. Lee Partners, Morgan Stanley, and Puma Energy. Murli Ravi has held investment positions with Temasek Holdings and JAFCO Asia. He currently serves as the Honorary Entrepreneur-in-Residence at INSEAD, where he mentors MBA and Executive MBA students, and he has previously instructed undergraduates in entrepreneurship at NUS Business School.
As a result, in addition to providing financial support, Tin Men Capital has been collaborating with Manuva to develop opportunities and provide strategic advisory services in order to support Manuva’s growth.
“We are honoured and proud to have the opportunity to have Tin Men Capital on our team as we strive to develop more B2B solutions for the packaging manufacturing supply chain and grow the company further,” commented Anggara Pranaspati, Founder of Manuva.
Co-Founders Hasandi Patriawan, Raffisal Damanhuri, and Anggara Pranaspati founded Manuva (previously Tjetak) in 2018. Manuva, whose name is derived from the word “manufacture,” works to offer practical and cost-effective solutions for Indonesia’s burgeoning manufacturing sector, which accounts for more than 20% of the nation’s GDP.
“Tin Men Capital is proud to announce our investment into Manuva. Over the past few years, Manuva has demonstrated substantial growth while achieving sound unit economics, which is a mindset that both our teams share. Moreover, bringing efficiency to the vast packaging industry means that Manuva contributes to substantial reductions in wastage across the value chain. Throughout our interactions, Anggara and his founding team have displayed their keen intellects, openness, and adaptability, and we look forward to continuing our close partnership” added Murli Ravi, Co-Founder.
Manuva is an Indonesian manufacturing platform that assists small and medium-sized enterprises (SMEs) in creating pre-made, custom-made packaging, and semi-branded products. Anggara Pranaspati, Raffisal Damanhuri, and Hasandi Patriawan founded it.
Manuva currently produces more than 300 different packaging SKUs through more than 100 manufacturing partners for more than 7000 retailers & 100 enterprise customers.
