Bababos has performed outstanding enhancement by reaching more than 400 SME manufacturers and intends to reach around 1,000 partners by the end of 2023.
Heaptalk, Jakarta — Manufacturing raw material procurement startup Bababos has accomplished its seed funding worth US$3 million, led by East Ventures and supported by Patamar Capital and Venture Lab.
The team will use the fund to build a seamless platform to connect a small and middle-scale manufacturing industry to a well-known raw material supplier. Also, the capital will enable the team to accelerate business expansion currently available in Jakarta Greater Area and Surabaya.
In response to this investment, Bababos’ Co-founder and CEO, Fajar Adiwidodo, said, “We truly appreciate the support that we gained from investors. We believe in market potential as we witness a significant demand increase from SME manufacturers until the end of Q3. We aspire to sharpen our partnership strategy with suppliers to provide the highest quality raw material at the best price,”
The company will expand its business enlargement because the team perceived that SME manufacturers still need to overcome several obstacles, including limited access to high-quality raw materials, less transparent pricing, and limited financial support for working capital. Conversely, raw material suppliers need more help concerning stock inventory plans due to scattered demand.
In resolving this obstacle, Bababos highlights its services, spanning the supply of manufacturing raw materials, demand aggregation, and flexible payment terms. These solutions are claimed to boost efficiency for the partners in procuring several raw materials, from steel polymers to chemicals.
Further, the company viewed that technology significantly plays a critical role in enhancing the startup’s competitive age. The platform has been integrated into the modern approach to the traditional industry by digitizing all procurement processes and leveraging big data to cluster demands based on raw material and geographical needs accurately.
This scheme has enabled quicker and timely delivery from suppliers to customers, providing a seamless experience and cost efficiency. To further optimize the apps, Bababos is developing new features in the form of a web application that allows SME manufacturers to process their transactions online.
Established in 2022, Bababos aims to transform the fragmented supply chain in Indonesia. Since its establishment, this startup has performed outstanding enhancement by reaching more than 400 SME manufacturers. The company claimed that its partners obtained a positive impact after joining the Bababos ecosystem, whereby the majority are seizing the business growth up to threefold. In its mission to revolutionize the supply chain in the manufacturing industry, the team intends to reach around 1,000 SME manufacturers by the end of 2023.
“We are thrilled to continue our support in Bababos. Their tech-based approach in the highly conventional and fragmented industry has been essential. This funding has signified our belief in this startup. We look forward to witnessing the further growth and positive impacts the team brings to this sector,” Partner at East Ventures, Melisa Irene, affirmed.
