Wednesday, 2 April 2025
24.1 C
Singapore
31.1 C
Thailand
21.9 C
Indonesia
26.8 C
Philippines

Ula secures US$10.5 million in seed funding

Indonesian startup, Ula, has secured US$10.5 million in seed funding led by Sequoia India and Lightspeed India. Founded just five months prior, the e-commerce startup is headquartered in Jakarta and provides its services via operating an online wholesale platform. Ula’s goal is to aid small retailers by providing solutions to improve the efficacy of their […]

Indonesian startup, Ula, has secured US$10.5 million in seed funding led by Sequoia India and Lightspeed India. Founded just five months prior, the e-commerce startup is headquartered in Jakarta and provides its services via operating an online wholesale platform.

Ula’s goal is to aid small retailers by providing solutions to improve the efficacy of their operations in supply chain, inventory, and daily cash flow – summarizing these deliverables in three succinct points Profits (Untung), Efficient (Lancar), and Reliable (Aman).

With its current operations in Indonesia where the retail scene is largely traditional, business owners face challenges in gaining working capital and obtaining inventories despite having the knowledge to operate their stalls in a cost-efficient way.

Ula’s Co-Founder, Derry Sakti, expands on this commenting that “A grocery store might need to source inventory from up to 50 different sources (wholesalers/ distributors) every week and sometimes order in bulk to get better rates, even when they donโ€™t need such large quantities.”

Since its inception, Ula claims that business has grown ten-fold with some customers returning and increasing their purchases significantly. In light of the pandemic, store owners have also purchased more supplies in comparison to their purchases earlier in 2020.

With the freshly raised capital, Ula looks forward to expand its operations across Indonesia throughout 2021 and widen their variety of inventory in more categories such as clothing and electronics.

Commenting on the financial round, Abheek Anand, Managing Director at Sequoia Capital highlights Ula’s strengths, sharing that “Ula has a highly experienced team bringing together the right mix of experience in local and global e-commerce, retail and fintech markets and we are excited to be early partners in this journey.”

Ula’s founders – Nipun Mehra, Alan Wong, Derry Sakti and Riky Tenggara – bring to the table a host of expertise as they have worked in major e-commerce firms before. Collectively, the founders have amassed skills from their professional experience in Amazon, Flipkart, Booking.com, and Procter & Gamble just to name a few.

With the startup’s leadership having deep competencies in e-commerce, and Indonesia making efforts to aggressively digitalize its economy, this puts Ula’s e-commerce success on a healthy trajectory.

Hot this week

LinkedIn: How AI is reshaping hiring and workforce strategies in 2025

Discover how AI is transforming hiring and workforce strategies in 2025, from skills-based recruitment to internal mobility and continuous learning.

Indiana Jones and the Great Circle launches on PS5 this April

Indiana Jones and the Great Circle arrives on PS5 on April 17, with digital pre-orders available now. New abilities and exclusive bonuses are included.

Apple prepares for M5 iPad Pro and MacBook Pro release

Apple is set to launch the M5 iPad Pro and MacBook Pro in late 2024, with the M6 models expected to introduce an in-house modem in 2027.

These robot vacuums are getting smarter with Apple Home support

Appleโ€™s iOS 18.4 update adds Matter support for robot vacuums, enabling control via Apple Home. Roborock, iRobot, and Ecovacs are updating their devices.

World Backup Day 2025 highlights the shift from backup to restore in AI-driven era

Pure Storage calls for a shift from backup to rapid restore on World Backup Day 2025, highlighting AIโ€™s demand for resilient data recovery.

These robot vacuums are getting smarter with Apple Home support

Appleโ€™s iOS 18.4 update adds Matter support for robot vacuums, enabling control via Apple Home. Roborock, iRobot, and Ecovacs are updating their devices.

Gmail introduces easier encryption for business emails

Google introduces a new encryption model for Gmail, making it easier for businesses to send secure emails without special software or certificates.

Nothing Phone (3a) Pro review: A mid-range marvel with standout zoom

Nothing Phone (3a) Pro blends standout design, powerful zoom camera, and smart features, making it a top choice in the mid-range segment.

Vivo challenges iPhone 16 Pro Max with X200 Ultraโ€™s video stability

Vivoโ€™s X200 Ultra teaser compares video stability with the iPhone 16 Pro Max, promising top-tier camera upgrades and advanced stabilisation.

Related Articles