Subscribe

Subscribe to Our Newsletter

Success! Now Check Your Email

To complete Subscribe, click the confirmation link in your inbox. If it doesn’t arrive within 3 minutes, check your spam folder.

Ok, Thanks
E-commerce Tech in Indonesia

Indonesian quick commerce firm Astro raises $60 million in Series B

Oluwajuwonlo Afolabi profile image
by Oluwajuwonlo Afolabi
Updated
Indonesian quick commerce firm Astro raises $60 million in Series B
Photo by Dennis Siqueira / Unsplash

Astro, a quick commerce firm based in Indonesia has raised $60 million in its Series B funding round led by Accel, Citus, and Tiger Global, with participation from AC Ventures, Global Founders Capital, Lightspeed, and Sequoia Capital India.

  • The funds will help the firm in improving user acquisition, product development, and hiring of more talents to its current team of employees.
  • The new funding brings the logistics firm to $90 million in total funds raised since it launched 9 months ago.
  • Astro offers a 15-minute delivery within 2-3km using its distribution stores backed by a cash-intensive model that allows it to control inventory sourcing, supply chain, and mid-to-last-mile delivery.
  • The firm claims it 10x its revenue in the last few months and recorded 1 million downloads of its app.
Oluwajuwonlo Afolabi profile image
by Oluwajuwonlo Afolabi
Updated

Subscribe to Techloy.com

Get the latest information about companies, products, careers, and funding in the technology industry across emerging markets globally.

Success! Now Check Your Email

To complete Subscribe, click the confirmation link in your inbox. If it doesn’t arrive within 3 minutes, check your spam folder.

Ok, Thanks

Read More