Indonesian micro retail tech startup Warung Pintar has bagged a new funding of $27.5 million in a Series B round from existing investors, as well as new investor OVO.
Warung Pintar, which translates to smart kiosk, is a prefabricated kiosk with technology integration for Indonesian SMEs and mom-and-pop stores. The kiosk typically features a surveillance camera, an LCD TV, stove, dispensers and the likes. Starting out with two kiosks in January 2018, the startup claims to have expanded its numbers to more than 1,150 kiosks to date. It aims to have more than 5,000 kiosks by the end of 2019.
Commenting on its latest Series B round, Warung Pintar Co-Founder and CEO Agung Bezharie Hadinegoro stated, “We will continue to strive in transforming micro-retail so they can have more competitive advantage in the midst of the retail landscape and build a better economy for themselves.” The company also says it has 110% of social return on investment, claiming the support and investment it gives to its partner shop-owners, or “Mitra”, has improved their quality of life by 110%, driven by 41% increase in their income.