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D2C business enabler Praktis secures $20m in series A round
The Indonesian start-up, which offers supply chain solutions to direct-to-consumer (D2C) Praktis businesses, has secured US$20 million in first-round funding after posting quadruple sales growth in 2022.
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Praktis cofounder and CEO Adrian Gilrandy (second left) poses for a group photo with other members of the Indonesian start-up’s leadership team (from left): newly appointed chief financial officer Leonard Pontoh, , cofounder and president Dipta Imanto, cofounder and chief marketing officer Mohamad Fahrul, and cofounder and chief project officer Dhimas Syahendra. (Praktis/-)
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ndonesian end-to-end supply chain start-up Praktis has secured US$20 million in a series A round to help direct-to-consumer (D2C) brands and suppliers optimize their business operations.
Indonesia’s East Ventures led the funding round, with participation from Triputra Group and SMDV, according to a press release it issued on Thursday.
Praktis secured pre-series A funds from the same firms in December 2021.
East Ventures said in its press release that it was “thrilled to double down” on its investment in the company, as Praktis had hit profitability “much faster than expected”.
Roshan Raj Behera, a partner with Indian management consultancy Redseer who oversees Southeast Asia, said the capital Praktis had raised exceeded typical first-round funding.
“Companies normally raise anywhere from $3 million to $15 million in series A,” Behera told The Jakarta Post on Friday.
He suggested that the amount Praktis had obtained was “possibly a function of the company delivering strong growth with a clear path to profitability. The unknown variable here is the dilution percentage”.
