Indonesia-based startup Praktis has performed business growth positively, with a twelve-fold growth YoY in 2020, and enhanced four-fold from 2021 to 2022.
Heaptalk, Jakarta — Praktis, an end-to-end supply chain enabler startup, has obtained US$20 million, approximately Rp294 billion, in a Series A investment round led by East Ventures (Growth Fund), with participation from Triputra Group and SMDV.
The company will use the new fund to expedite technology enhancements for the brand sides and backs the suppliers to simplify their business process, build an outstanding team, and advance its end-to-end supply chain ecosystem.
Based on his perspective, the Co-Founder and CEO of Praktis, Adrian Gilrandy, claimed more than US$30 billion for the beauty and fashion market in the archipelago is served by small and medium players. Through aggregation, process improvement, and technology implementation, this supply chain enabler startup has contributed to them encountering supply chain processes effectively.
“Therefore, they can focus more on leveraging and growing their business. This scheme has been our objective since day one, reflected in our outstanding growth and successful business improvement, and positive performance in our profitability that we have achieved so far,” added Adrian.
The company experienced significant growth, with a twelve-fold year-on-year (YoY) as of 2020, and elevated up to four-fold YoY from 2021 to 2022. The company revealed that its overall business initiatives are well executed by presenting product market fit and comprehending society’s pain points. Moreover, covid-19 pandemic has also become a blessing in disguise to the company in accelerating the adoption rate to market.
Praktis’ services include raw material purchase, production, fulfillment, and logistics with technological assistance to provide simple, efficient, and reliable operations both for direct-to-consumer (D2C). This matter lets brands focus on their core competencies and let Praktis handle the rest of their business operations with its reliable tech and data-driven platform for a smooth-sailing supply chain.
Having robust confidence in the potential of this Indonesia‘s supply chain startup, East Ventures‘s Co-Founder and Managing Partner, Willson Cuaca, voiced, “We are thrilled to double down our investment to Praktis as they strive to empower D2C brands in Indonesia and hit profitability faster than we expected. We believe in Praktis’s ability to revolutionize the supply chain industry in the country as they assist businesses to expand and bring positive impacts to the society,”
Praktis recently appointed a new board member of its board of directors, Leonard Pontoh, as Chief Financial Officer to strengthen its capability and prepare to scale up. According to his experience, he brings a solid background in public accounting with more than 12 years of extensive experience in diverse startup companies.
