Indonesian social commerce platform Grupin raises US$3m, led by Sequoia India's Surge

Benjamin Cher

Published Fri, Feb 4, 2022 · 10:29 AM

GRUPIN has raised US$3 million in a funding round led by Sequoia India's Surge, a scale-up programme for startups by the venture capital firm.

Skystar Capital and Indonesia-focused venture capital firm East Ventures also participated in the social commerce platform's funding. Grupin offers a community-based shopping experience, coupled with large discounts on bulk consumer products.

"With the proliferation of e-commerce, especially since the start of the Covid-19 pandemic, consumers want a robust shopping experience that not only brings value, but also provides engagement," said Kevin Sandjaja co-founder of Grupin.

The social commerce platform is looking to ride the rising tide of e-commerce that has been boosted by Covid-19 induced lockdowns. In Indonesia, e-commerce is expected to hit US$60 billion by 2025 according to a report by venture builder, Momentum Works.

"At Grupin, we offer a social experience when shopping, which has been especially engaging for customers in Indonesia, as we see ingrained cultural behaviours like 'gotong royong', where friends come together to shop and play," said Sandjaja.

Grupin is offering group buys for consumers to get their goods at lower unit prices, while offering merchants opportunities to sell goods at bulk to reduce operating costs and wastage.