Jeff Bezos is drawn to Indonesian startups

Jeff Bezos, founder of Amazon and Blue Origin.

Jeff Bezos, founder of Amazon and Blue Origin.

VIVA – The richest person in the world who is also the founder of Amazon and Blue Origin, Jeff Bezos, officially inject money into startups or Start up origin Indonesia called Ula. This startup received Series B funding of $ 87 million (Rp1.2 trillion).

This funding comes from Prosus Ventures, Tencent and B Capital. Jeff Bezos is also injecting funds through Bezos expeditions this round, as quoted VIVA technology from the website TechCrunch, Monday, October 4, 2021.

Jeff Bezos’ interest in Ula, which runs a business-to-business (B2) e-commerce platform, comes at a time when Amazon has yet to get into most Southeast Asian countries or maintain a limited presence in the region.

Ula is only 1.5 years old and lives in Jakarta. They had previously received funding from B Capital Group, Sequoia Capital India, Lightspeed Venture Partners and Quona Capital.

The startup was led by Nipun Mehra (former Flipkart manager in India and former partner at Sequoia Capital India), Alan Wong (formerly at Amazon), Derry Sakti (who oversaw the business of consumer goods giant P&G Indonesia) and Riky Tenggara. founded (formerly at Lazada) and aCommerce).

“We help small retailers with supply chain, inventory and working capital solutions. Our newest investors have a background in global expertise and share the company’s long-term mindset. We hope to learn from their experiences in reshaping retail growth in other markets,” said the director of Ula, Nipun Mehra.

He also described Ula’s unique mission to provide small retailers in the area with technology to grow their sales.

Mehra admits he’s taking a long-term approach to solving the underlying problems faced by traditional retailers by investing in technology, supply chains, and credit offers with data.