Undercover.co.id – Advotics grabs fresh funding from a new funding round led by East Ventures. This technology startup that focuses on software-as-a-service (SaaS) in providing data-driven supply chain solutions for brands and small and medium enterprises (SMEs) earned US $ 2.75 million
Indonesia is a large market for technology solution businesses for corporations. Advotics estimates the software market value for corporations in Indonesia to reach US $ 3 billion. The size of the market is getting bigger as more and more companies are moving towards digitization.
Restrictions on mobility as a result of the COVID-19 pandemic pose various challenges for companies that still depend entirely on officers in the field to monitor and manage distribution. These constraints have made various companies increasingly aware of the urgent need for a distribution and retailer management system.
Many players have contacted Advotics to assist in accelerating the transformation of the supply chain system. Advotics is a technology company that helps brands understand, monitor and manage their supply chain systems by providing an integrated platform across all distribution points.
“There are millions of manufacturing and distribution companies in Indonesia, from small companies to giant companies. We believe that the corporate software market in Indonesia, which currently has a value of US $ 3 billion, will continue to grow as more companies join the trend of digital transformation, “said Boris Sanjaya, CEO and Co-founder of Advotics.
Currently, Advotics has 9 SaaS products that provide a variety of solutions that can be applied at the stages of production, warehousing and distribution. By using a QR code printed on the product packaging, the startup helps brands track the movement of goods at each distribution point, including information about sales team activity and stock vacancies. Advotics has also developed their system to include solutions for inventory, routing, and collection.
“We can help brands and principals in monitoring the movement of their products at every stage of distribution to the last point, be it modern retailers, stalls, or individual resellers .
Advotics is also able to provide solutions to supply chain problems that have long troubled the company in terms of warehouse operations, efficient delivery of goods, and delivery of the sales team , by utilizing advanced technology. All of this is not possible just by relying on a conventional supply chain model, ”said Jeffry Tani, CPO and Co-founder of Advotics.
Advotics will use capital from their latest funding round to expand the scope of solutions to the SME market, by providing an integrated online-to-offline system. The new investment will also be used in the expansion of the company’s sales team .
“We are building a platform that connects brands with supply chain points that are outside the modern ecosystem. Armed with our experience in providing practical solutions using the latest technology, we are confident that Advotics’ digital solutions that are ready to use, easy to use, and always connected can help SMEs to be more competitive, ”said Hendi Chandi, CTO and Co-founder of Advotics.
According to Digital Indonesia 2021, there are more than 202.6 million internet users in Indonesia which is equivalent to 73.7% of the population. Digital transformation opens up new ways of life and work in the country that help consumers and businesses increase efficiency and productivity.
“The Advotics team is not only able to survive amid the pandemic, but is getting stronger. We are confident that this funding will accelerate the achievement of Advotics’ mission, namely digitizing Indonesia’s supply chain and distribution ecosystem, ”said Willson Cuaca, Co-founder and Managing Partner at East Ventures.