Indonesia’s development trade is massive and rising rapidly, however numerous provide procurement remains to be finished the old school manner, by means of cellphone calls and textual content messages. Juragan Materials needs to make issues simpler with a B2B market for constructing supplies from curated suppliers.
The corporate introduced at the moment it has raised $4 million in seed funding led by Go-Ventures, with participation from Susquehanna Worldwide Group (SIG).
The brand new capital will probably be used for hiring, rising Juragan Supplies’ market share and technological enhancements.
Based in 2021, the corporate’s market at present has greater than 9,000 merchandise and over 180 manufacturers, together with structural, architectural, mechanical and electrical merchandise. It’s meant to be used by contractors and undertaking homeowners, and helps them supply supplies extra rapidly.
Earlier than launching Juragan Supplies, Tito Putra, CEO and co-founder, was a managing director of a constructing contractor agency.
All of the startup’s different founders even have expertise working within the development trade. Chief working officer Graceila Putri was a product affiliate at Amazon and labored on development for a constructing contractor agency. Chief advertising officer Ricky Fernando beforehand labored in advertising and relations as Mortindo, a mortar producer, and chief procurement officer Meichael Surja was an architect and contractor on residential merchandise for greater than 15 years.
Putra mentioned it usually took days for him to supply a single merchandise, together with time spent checking with a number of distributors for pricing and availability.
He additionally handled deliveries that might not be tracked and arrived late and offline fee and invoicing processes that have been lengthy and irritating. This resulted in excessive working capital prices and potential losses due to overstocks and over- or under-supply.
Juragan Supplies was created to simplify the final leg of the provision chain for the development trade.
“We acknowledged that development is a large market that’s nonetheless very typical and untapped by expertise, leading to numerous inefficiencies taking place within the trade,” Putra mentioned.
Juragan Supplies new capital will probably be used to enhance its platform and launch extra options, scale-up its buyer and vendor acquisitions and improve its supporting infrastructure, significantly financing and logistics, Putra added.