Indonesian supply chain startup Baskit has raised US$4.4 million in the first round of its Series A funding. The round was led by Cento Ventures, with support from Kaya Founders, Analog Ventures, and Orvel Ventures.
The company is now planning to grow beyond Indonesia by taking its distribution model to other countries.
This model was built and tested over the last three years in one of the most complex markets in Southeast Asia.
Along with the equity funding, Baskit also secured a $3 million revolving credit facility from HSBC Innovation Banking. This takes its total funding to $9.9 million since its pre-seed and seed rounds in early 2023.
The company will use this money to grow further across Indonesia and also start its first expansion into the Philippines.
“The company stands out as one of a new generation of regional technology companies: operationally rigorous, capital-efficient, and built around real economic infrastructure,” said Yuan Lee Chung, partner at Cento Ventures. “Baskit has spent years mastering one of the most complex operating environments in South-East Asia: offline distribution in fragmented growth markets.”
This approach can act as a scalable model for B2B SaaS companies. It shows how using unique operational data can improve business processes and also create new income sources like financing and other business services.
Some industry estimates say Baskit’s gross profit margins are similar to software companies. This highlights how strong and efficient its business model is.
Founded in 2022 by Yann Schuermans, Abhishek Pansari, and Yoonjung Yi. It is a go-to-market platform that helps new and emerging brands reach customers.
The platform works across FMCG, beauty/personal care, and fashion sectors. It also combines logistics support, technology, and credit solutions to help its customers grow.
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