JAKARTA (IndoTelko) - Printerous has raised an undisclosed amount of Series A funding led by BAce Capital, AddVentures, GDP Venture, and Gobi Agung. Existing investor Sovereign’s Capital also participated in this round.
The fresh funding will be deployed to ramp up its technology infrastructure and expand its presence to 30 cities of Indonesia, as well to further grow the business in a sustainable way. Printerous has been profitable since last year, and the startup believes this new funding will help enhance its growth through expansion and innovation.
“Micro, small, and medium enterprises (MSMEs) in Indonesia face difficulties in designing, ordering, as well as distributing the prints and packaging supplies. Printerous aggregates printing & logistic service providers to solve those problems, making the entire process more cost-efficient, convenient, and transparent for MSMEs. This business model has been successfully implemented in developed markets like Japan, China, US and Europe, where printing industries have shifted from conventional to digital,” Kevin Osmond, Founder and CEO Printerous explained.
Indonesia’s digital economy has great potential. It grew 49% in the past five years, the fastest in the Southeast Asia region, according to the latest Google, Temasek, and Bain Company report. The innovative, comprehensive printing and packaging solutions that Printerous offers can facilitate the business operations of many Indonesian MSMEs, which form a vital part of the country's economy.
"We have a vision to improve the entire digital economy in Southeast Asia and support startups who share the same vision. Printerous is empowering a traditional industry with technology and value-added services, which are beneficial for both printing suppliers and users. It is an Indonesian startup that we believe has great potential.” said Mulyono, Managing Director of BAce Capital.
Martin Hartono, CEO of GDP Venture, stated that support for local startups must continue for the development of the domestic economy. "We always want to support Indonesian local companies to develop new and sophisticated solutions, and Printerous is one great example in the printing and packaging industry," Martin added.
Printerous is currently the largest online printing platform in Indonesia. It partners with more than 250 printing and logistic service providers and has been used by more than 35,000 businesses. Going forward, Printerous will continually strive to help MSMEs with cost-efficient, convenient, and transparent printing and packaging solutions, to support the growth of Indonesia's digital economy.(es)