Industrial E-commerce Site Ralali Gain Financial Funding From East Ventures.
Initially launching during July 2013, this Indonesia-based online store for industrial supplies, Ralali has recently announced to be raising financial funding from the early-stage startup fund, East Ventures. The investment amount has as of yet to be disclosed.
Founder and CEO of Ralali, Joseph, had spoken during an interview between himself and sources that it shall be utilizing the acquired funding for an expansion and marketing efforts, as well as developing even more of its infrastructure.
He further elaborated, “We chose (East Ventures) among others, not just because of financial only, but because somehow they can understand our vision. (East Ventures) also (has its) reputation in Southeast Asia and been around for quite some time in Indonesia.”
With a total of up to 8- customer brands on board, the platform supplies industrial products from a total of 15 categories, these include hardware tools, electrical, security equipment, material handling, navigation tools and lighting.
Similar to other upcoming e-commerce startups, Ralali generates its revenue through the use of online sales from listed products “We (have) already generated income and (it has been) quite significant in the last six months,” said Aditya, who worked before as a business-to-business industrial supplier. His customers are mostly made up of businesses who are looking to purchase necessary tools for working purposes.
While online may be one of the best ways to go when it comes to the marketplace, he still believes that there is potential for an offline presence. So, customers will also be given the option of picking up items, making payment and checking out other product at an industrial equipment center based in Jakarta. He pointed out that,“Our order value is much higher than (an) average e-commerce basket size, and customer trust is a big issue we need to address.”
He further stated that there are plans in motion to expand towards other countries within the Southeast Asia sometime during the future. Although, the company will continue to focus upon Indonesia for the mean time.