Jakarta, CNBC Indonesia – Ula is a new e-commerce in Indonesia. However, it has come as a surprise because it has succeeded in cooperating with big investors to fund its expansion in the country.
This startup has managed to raise US$30 million or equivalent to Rp. 426 billion (assuming Rp. 14,200/US$). Reportedly one of the famous investors behind is the richest man in the world and also the founder of Amazon Jeff Bezos.
Techcrunch sources say Jeff Bezos has agreed to invest in Ula using a family-owned investment firm called Bezos Expeditions. Jeff Bezos invested in Ula at a time when Amazon had not yet entered Southeast Asia’s largest market and had limited access to Indonesia, as quoted Monday (4/10/2021).
Unfortunately Ula’s management did not respond to a confirmation request from TechCruch.
Apart from Jeff Bezos, B Capital, Tencent and Prosus Ventures co-lead this funding round. There are also the names of Sequoia Capital, Lightspeef Ventures Partners, and Quona Capital who are Ula investors in this latest funding round. The target fund is US$80 million.
Jeff Bezos has been the richest person in the world according to Forbes since 2019. Most of his wealth comes from Amazon, the world’s e-commerce giant. Currently, his total wealth reaches US $ 191.4 billion or equivalent to Rp. 2,717.88 trillion. Last week the position of the richest person in the world was taken by Elon Musk from Jeff Bezos.
Ula helps small retailers overcome the inefficiencies they face in supply chains, inventory and working capital. Ula operates a wholesale e-commerce marketplace to help store owners keep only the inventory they need and also provide working capital.
Ula was founded by Nipun Mehra, a former Flipkart executive in India and a former partner of Sequoia Capital India. Flipkart itself is the largest e-commerce in India where the main investor is Amazon.
Other founders are Alan Wong, who previously worked at Amazon and Derry Sakti, who previously worked at P&G Indonesia, and Riky Tenggara, who previously worked at Lazada and aCommerce.
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