INDONESIA same-day delivery provider RaRa Delivery has raised S$1.2 million in a seed round led by US venture capital firm 500 Startups.
A syndicate from AngelCentral led by Lim Der Shing also participated in the round. AngelCentral is an angel investment network based in Singapore co-founded by Mr Lim, who is also a partner.
The funds raised will be used for talent acquisition in business development, operations and technology in order to further expand RaRa's Indonesia business and allow it to become the market leader in the same-day delivery space.
RaRa Delivery is a last-mile delivery service for e-commerce businesses which uses real-time optimisation technology. The startup's technology optimises capacity, time slot, distance and routes for thousands of orders in seconds.
The startup counts e-commerce players Lazada, Shopee and Indonesia's Bukalapak as part of its clientele.
It was started in 2017 by founder and chief executive Karan Bhardwaj. Mr Bhardwaj was previously a regional e-commerce supply chain manager at Unilever, where he was responsible for setting up Unilever's end-to-end supply chain for its e-commerce.
RaRa also graduated from accelerator programme GK-Plug and Play Indonesia's (GK-PNP) Batch 4 in April 2019. GK-PNP also invested in RaRa's angel round, which also saw other investors such as Zopim co-founders Royston Tay and Kwok Yang Bin.
The angel round also saw the participation of Stripe business development head Vidit Agarwal and Unilever vice-president of digital transformation Vishal Gupta.