INDONESIAN startup Advotics, which helps supply chain stakeholders to digitalise their processes, has raised US$2.7 million in a seed round led by East Ventures.
The funds will be used for improving the technology in its products and solutions as well as growing its customer base.
Companies often rely on physical, manual methods to manage and track their sales and distribution, said Advotics in a press statement. The startup has built a cloud platform where data from offline work and trade activities can be converted into insightful metrics. These insights can help management make decisions relating to price and distribution control, productivity and retail execution strategy.
Physical assets and products are also digitised. For instance, one of Advotics' solutions tags products with a unique identity through QR codes printed on the product packaging.
Within two years of its product launch, Advotics has secured contracts from more than 50 corporate clients, including oil giant ExxonMobil, HM Sampoerna (an affiliate of Phillip Morris International) and French food company Danone.
Willson Cuaca, managing partner of East Ventures, said that corporate digital transformation is sweeping Indonesia in a big wave. "We are witnessing the shift from the consumer market into the business-to-business model rapidly in the last couple of months. The Advotics team really nailed down the core problem of supply chain monitoring in Indonesia," he said.
Hendi, Advotics co-founder and chief technology officer, said clients can buy the solution based on their needs - either the total digitalisation solution or the per module basis.
He added that Advotics also provides features such as an in-store productivity app for workforces with geo-tracking, dispatch and route management system, and offline-to-online marketing.
"With this product portfolio, Advotics can cater to needs from both larger corporate and the smaller small and medium enterprise segment," he said.