Indonesian quick-commerce startup Astro grabs US$4.5M seed round
Published on November 26, 2021
A large market opportunity combined with a real-world need create promising business prospects for Astro, a quick-commerce company that promises to deliver your groceries in 15 minutes or less.
Astro, a quick commerce start-up in Indonesia, has received an injection of venture capital funds of US$4.5 million or IDR 64 billion for Seed Funding to meet the needs of customers shopping for groceries more quickly, easily, and safely. Funding injections in this initial round were provided by several investors such as Global Founders Capital, AC Ventures, Lightspeed Venture Partners, and Goodwater Capital.
The funding received will be focused on building and strengthening the team in the field of technology and supporting the operational team to meet the needs of customers, as well as expanding the business area by expanding to several areas in the Capital.
Starting to operate since September 2021, the company offers more than 1,000 choices of quality products ranging from daily necessities, such as snacks, fresh fruit, to vegetables. It only takes 15 minutes for the goods to arrive to customers.
“Astro has received positive feedback from customers since it started operating. We appreciate the interest in continuing to maintain customer satisfaction and expand the operational areas as soon as possible. We are also grateful for the trust given by investors to support Astro in serving more customers across Indonesia,” said Vincent Tjendra, the startup’s CEO & Co-Founder.
Until now, people still put the importance of convenience and safety in shopping for their daily needs, in line with the advantages that the platform offers to customers, such as 15 minutes delivery time (fastest on the market) at a very affordable and competitive price.
“We are very confident that this ‘quick commerce’ service will fundamentally change the way millions of Indonesian consumers buy their basic daily needs, electronics, snacks, and pet food. Global Founders Capital (GFC) honored to support Astro from the earliest stage,” said Melvin Hade, Partner Global Founders Capital (GFC).
Adrian Li, Founder & Managing Partner of AC Ventures mentions, “Astro’s 15-minute delivery system is centered on customer satisfaction and allows instant delivery at affordable prices. The founding team comes with synergistic expertise and experience, suitable for running this quick commerce startup.”
Akshay Bhushan, Partner, Lightspeed Venture Partners commented, “Astro’s ‘instant shopping’ is committed to providing the fastest delivery experience for Indonesian customers. The combination of Astro’s founding team and funding for this round gives us the assurance that Astro’s position is at the forefront.”
The fact that Indonesia is in the first place as the country with the most active online shopping population also boosts confidence that Astro is here, at the right time as a quick commerce start-up, and ready to answer all consumers’ needs quickly, efficiently, and safely. As many as 87.1% of internet users in Indonesia also revealed that they use online shopping services to buy certain products including food and daily necessities. Astro will operate for 24 hours, but also follow government regulations during the PPKM period.
Currently Astro has been able to serve customers in Senayan, Permata Hijau, Gandaria, Kuningan, SCBD, Kemang, Cilandak, Cipete, Puri Indah, Kebon Jeruk, Kelapa Gading, and PIK (Pantai Indah Kapuk) area. Astro will be able to serve all of Jakarta area (and parts of Greater Jakarta) by December 2021.
Indonesian wealth management app PINA bags US$3M seed round led by AC Ventures
See also: Indonesian quick-commerce startup Astro banks US$27M to deliver your groceries in 15 minutes
AC Ventures is a leading venture capital firm investing in early-stage startups focused on Southeast Asia. It aims to be a generational partner to founders driving positive societal change and economic impact in Indonesia and beyond. Fill out the form below to pitch to us.
