Indonesian quick-commerce startup Astro banks US$27M to deliver your groceries in 15 minutes
Published on February 2, 2022
On a bold mission to get fresh groceries to your doorstep within minutes, Astro now seeks to expand its reach and serve more customers across Indonesia.
Quick-commerce startup for e-groceries, Astro has raised US$27 million in Series A led by Accel and Sequoia Capital India. Existing investors, AC Ventures, Global Founders Capital, Lightspeed, Goodwater Capital, including founders and senior executives as angel investors from Traveloka, Ajaib, Meesho, OYO, Swiggy, Udaan also participated in the round. The funds raised will be used to expand the reach and serve more customers across Indonesia as well as to expand the team size by threefold in 2022.
In Indonesia, while groceries is one of the biggest retail sectors, digital penetration in the sector is one of the lowest – ~0.4% compared to the 10% penetration of e-commerce. With the pandemic driving digital adoption, the opportunity is large with e-grocery in Indonesia and is poised to become a ~US$6 billion opportunity by 2025. Recognizing this and the opportunity to create value for millions of Indonesians, Astro co-founded by Vincent Tjendra in September 2021, enables consumers to shop for daily grocery needs with a promise of delivery in 15 minutes.
The value of Astro’s quick-commerce model
“Our mission at Astro is to make people’s lives simpler and easier. Our Astronauts deliver groceries and essentials to you within 15 minutes so you can spend your time, energy, and money on other meaningful things in life! Our relentless focus remains the same, which is to continuously provide a great customer experience and to build the best company with the best talent in Indonesia. We are excited to partner with Accel and Sequoia Capital India, along with all our existing investors to accelerate this mission,” said Vincent Tjendra, Co-Founder & CEO & at Astro on the fundraise.
The pain points that the quick commerce startup addresses are very meaningful to its customers. From snacks and drinks for hosting a party for friends to ingredients needed by families for everyday cooking to restocking essentials like milk and bread, Astro can deliver to their consumers’ doorsteps within 15 minutes. There are many such situations where the convenience of quick commerce can alleviate stress on a daily basis. Customers are frequently purchasing pantry staples and love the entire shopping experience – from super-fast deliveries to the unique assortment of local brands such as Oma Elly, Heirloom Yogurt, and Beleaf Veggies.
In addition to the promise of 15-minute deliveries, Astro offers 1,500+ SKUs at competitive prices available 24/7 on the app. The app is built to keep accessibility for customers across all age groups in mind, ensuring that it is simple and straightforward for many first-time e-grocery shoppers. Key features include –
- A three-click checkout – browse for a product, add to cart, and pay
- Personalized experience which enables ease of product discovery
- Guaranteed customer satisfaction – damaged/incorrect items can be replaced within 15 minutes
“We are excited to partner with Vincent and the Astro team to build the largest commerce platform in Indonesia. Globally, consumers want convenience and faster delivery, and Astro is delivering on this fundamental customer promise. This partnership is an important step to unlocking the potential that digital innovation brings to the grocery sector in Indonesia and we are proud to be able to witness and be a part of that growth process,” said Abhinav Chaturvedi, Partner at Accel.
“There are some irrefutable truths in eCommerce and one of them is that consumers will always want faster delivery, better selection, and value pricing. The quick commerce model sits at the pinnacle of such consumer demand. With growing affluence, the Indonesian market is reaching an inflection point in e-grocery and other consumer categories, opening up a large market opportunity. The team at Astro is well-placed to capture this market and we are delighted to be a part of their journey to build a category-creating instant commerce platform in the country,” said Aakash Kapoor, VP, Sequoia India.
Since the launch, Astro has established 15+ hubs across Jakarta and aims to expand this network fast to cater to millions of Indonesians. For more information about Astro and to download the application, please visit https://astronauts.id/.