JakartaGlobe-Oct 4

Bezos Expeditions, a venture capital company, owned by Amazon founder Jeff Bezos, has taken part in Indonesian business-to-business e-commerce marketplace startup Ula’s $87 million series B funding, marking one of the world’s richest man’s foray into the country’s startup scene. The investment also exposed Bezos Expeditions to Indonesia’s business-to-business e-commerce market, which was estimated to have a total market value of $150 billion. Bezos Expedition was among several investors in Ula’s latest funding round, led by Prosus Ventures, Tencent, and B-Capital. Other investors like Northstar Group, AC Ventures, and Citius were also involved in the funding round. The company’s previous investors, including  Lightspeed India, Sequoia Capital India, Quona Capital, and Alter Global, also participated in this Series B funding. Ula introduced a grocer marketplace to provide mom-and-pop stalls or small shops across Indonesia with technology, tools, and expertise comparable to modern convenience store chains. Since its launch last year, the company has worked with more than 70,000 stores across the archipelago. Read more at: https://jakartaglobe.id/business/jeff-bezos-makes-indonesian-inroad-with-new-investment-in-ula-a-b2b-ecommerce