TEMPO.CO, Jakarta – Ula, a B2B e-commerce start-up from Indonesia, was able to attract big-name investors, one of which is Jeff Bezos via Bezos Expeditions. On October 4, 2021, the company led by Alan Wong succeeded in obtaining Series B funding of Rp 1.24 billion.
The funding was co-led by Prosus Ventures, Tencent, and B-Capital. This funding was also joined by Bezos Expeditions, which is a venture capital company owned by Amazon founder Jeff Bezos, along with other leading Southeast Asian investors, namely Northstar Group, AC Ventures, and Citius.
Investors who have funded Ula in the previous series, such as Lightspeed India, Sequoia Capital India, Quona Capital, and Alter Global, also participated again in this series B funding.
Ula’s Co-Founder and Chief Operating Officer Riky Tenggara said this Series B funding is the second funding in 2021. In January 2021, Ula received series A funding.
This funding will be used to maintain Ula’s growth throughout Indonesia, adding new categories, developing Buy-Now-Pay-Later (BNPL) services, as well as developing new technology, logistics infrastructure and local supply chains.
Not only that, the funding will strengthen Ula’s commitment to support underserved traditional stall owners, especially those in Tier 2 to Tier 4 cities.
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