Astro, a quick commerce startup based in Indonesia, has raised $4.5 million in seed funding to change how locals shop for groceries easily and quickly from the comfort of their homes.
The funding round counted with participation from multiple investment firms like Global Founders Capital, AC Ventures, Lightspeed Venture Partners, and Goodwater Capital. Astro will use the capital injection to boost its expansion efforts in the Indonesian capital, as well as to hire new team members to support the operational team.
Adrian Li, Founder & Managing Partner of AC Ventures, referred to the firm’s reasons to participate in the round by stating:
“Astro’s 15-minute delivery system is centered on customer satisfaction and allows instant delivery at affordable prices. Astro’s founding team with synergistic expertise and experience, suitable for running this quick commerce startup.”
Astro started operating back in September of this year by offering its customers more than 1,000 products in different categories such as snacks, fruits, vegetables, and other daily necessities. The startup aims to become a major driver of commerce in the region by providing customers with deliveries of under 15-minutes. Vincent Tjendra, CEO & Co-Founder of Astro, said in this regard:
“Astro has received positive feedback from customers since it started operating. We appreciate the interest in continuing to maintain customer satisfaction and expand the operational areas as soon as possible. We are also grateful for the trust given by investors to support Astro in serving more customers across Indonesia.”
More than 81% of Indonesia’s internet users make use of online services to complete their purchases, which has created a vacuum for platforms that provide a convenient 24/7 delivery service. Astro is already meeting this demand by providing service in multiple areas in the country and is planning to expand to Jakarta and other major metropolitan areas by the end of December 2021.