Heaptalk, Jakarta — A Quick Commerce platform Astro, declared its other milestone by seizing the latest investment worth US$60 million in a Series B funding round. This investment round is led by Accel, Citius, and Tiger Global. Existing investors also support this funding round, including AC Ventures, Global Founders Capital, Lightspeed, and Sequoia Capital India.
The capital received will be allocated to reach more customers and improve the performance of service products, particularly for its 15-minutes delivery service to deliver an excellent experience to consumers. The company also will focus on expanding Astro’s team to gain more efficient operations this year.
Astro will expand its 15-minutes delivery service (e-Groceries) that has operated over 50 locations around Jabodetabek area. Since its establishment, Astro has successfully collected fresh capital of US$90 million and performed significant improvement over ten times after closing a Series A round.
The high growth of this startup is indicated by solid customers’ contributions, proven by a total app downloaded nearly 1 million times within the initial six months and high customer ratings. The vast frequency of consumer usage enables Astro to build a financial strategy to achieve long-term quality growth.
The achievement is only in Astro’s early stage because e-grocery in the retail sector has a digital penetration of only 0.4%, compared to the penetration of e-commerce which reached 10%. However, the COVID-19 pandemic has accelerated digital penetration, assisting the e-Groceries sector in capturing its market share opportunity worth US$6 billion in 2025.
“Our mission (Astro) is to make people’s life simpler and easier. Our Astronauts have continuously served customers exclusively during the last Omicron COVID-19 spike, where Indonesia faced the highest infected cases. We are excited to team up with Accel, Citius, and Tiger Global to accelerate our meaningful objectives. We will continuously focus on the company’s performance with excellent talents throughout Indonesia and delivering a wonderful consumer experience.” stated Vincent Tjendra, Co-Founder & CEO at Astro.
Also, Astro ties up with local enterprises to establish a private label. The early launch includes coffees and bread, with the seasonal treat, including sweet cakes and desserts during the last Ramadhan. This strategic cooperation is a part of Astro’s endeavor to assist local farmers in getting closers to the consumers by providing hydroponic and fresh fruits and vegetables within 15 minutes. (SFM)
