Praktis, an end-to-end supply chain enabler based in Indonesia, has raised $20 million of series A round led by East Ventures (Growth fund) with participation from Triputra Group and SMDV.

Praktis said in a statement on Thursday that the investment will be allocated to accelerate technology enhancements for the brands sides, at the same time to help the suppliers to have an easier business process, better team building, and enhancement of the end-to-end supply chain ecosystem.

“More than $30 billion fashion and beauty markets in Indonesia are served by small and medium players. Through aggregation, process improvements, and technology implementation, we can help those players to have more efficient supply chain processes, so they can focus more on leveraging and growing their business,

“It becomes our goal since day one and it is reflected to our outstanding growth and successful profitability that we have achieved so far,” said Adrian Gilrandy, Co-Founder and Chief Executive Officer of Praktis.

According to the statement, Praktis experienced significant growth, 12 times year-on-year growth from 2020 to 2021 and growing 4 times year on year from 2021 to 2022.

All the initiatives are well executed because of product market fit and solving the real pain points, said the firm.

It also said COVID-19 pandemic becomes a blessing in disguise to the company because it accelerates the adoption rate to market.

“We are thrilled to double down our investment to Praktis as they strive to empower direct-to-consumer (D2C) brands in Indonesia and hit profitability much faster than we expected,

“We have complete confidence in Praktis’s ability to revolutionize the supply chain solutions industry in Indonesia as they assist businesses to expand and bring positive impacts to the society,” said Willson Cuaca, Co Founder and Managing Partner at East Ventures.

Praktis’ services cover raw material purchase, production, fulfillment, and logistics with technology enhancement to provide simple, efficient, and reliable operations both for D2C brands and suppliers.

It allows brands to focus on their core competencies and let Praktis handle the rest of their business operations with its reliable tech and data-driven platform for a smooth-sailing supply chain.

In order to strengthen the firm’s capability and prepare to scale up, Praktis recently also welcomed a new member to its board of directors, Leonard Pontoh as Chief Financial Officer.

He brings a solid background in public accounting with more than 12 years extensive experience in various well-known startup companies.

Founded in 2009, East Ventures is a sector-agnostic venture capital firm, which has transformed into a platform that provides multi-stage investment, from Seed to Growth stage investments, for over 300 tech companies across Southeast Asia.

East Ventures is an investor of Indonesia’s unicorn companies, namely Tokopedia and Traveloka.

Other notable companies in East Ventures’ portfolio include Ruangguru, SIRCLO, Kudo (acquired by Grab), Loket (acquired by Gojek), Tech in Asia, Xendit, IDN Media, MokaPOS (acquired by Gojek), ShopBack, KoinWorks, Waresix, and Sociolla.

Indonesia’s Coldspace raises $3.8M seed fund led by Intudo Ventures, ASSA, Triputra Group