Jeff Bezos in talks to support Indonesian ecommerce Ula – TechCrunch
Ula, a one-and-a-half-year-old Indonesian e-commerce startup that has raised over $ 30 million and wooed many top investors, is getting closer to adding one of the biggest tech profiles to its capacity.
The Jakarta-based startup – which counts B Capital Group, Sequoia Capital India, Lightspeed Venture Partners and Quona Capital among its existing investors – is at an advanced stage of talks to finalize a new funding round of more than $ 80 million in which Jeff Bezos, the founder of Amazon, is also investing, according to two sources familiar with the matter.
The round could end as early as this month.
Bezos’ interest in Ula, which operates a business-to-business e-commerce platform, comes at a time when Amazon has not entered most countries in Southeast Asia – or maintains a limited presence there.
Ula’s public relations representatives did not respond to requests for comment on Saturday.
Ula helps small retailers solve inefficiencies they face in supply chain, inventory and working capital. It operates an e-commerce wholesale marketplace to help store owners stock only the inventory they need and also gives them working capital.
The startup was founded by Nipun Mehra (a former Flipkart executive in India), Alan Wong (who previously worked with Amazon), Derry Sakti (who oversaw the operations of consumer goods giant P&G in Indonesia) and Riky Tenggara (formerly at Lazada and aCommerce).