Indonesia-based online industrial and consumer goods marketplace Ralali has completed a $13m series C round that included building materials producer Siam Cement Group, DealStreetAsia has reported.
The round was co-led by venture capital firms Arbor Ventures and TNB Aura, and private investor Jo Hirao. Another VC firm, Qualgro VC, also took part in the round, while Siam Cement Group participated through its AddVentures unit.
Founded in 2013, Ralali’s marketplace is used by micro, small and medium-sized enterprises to buy maintenance, repair and operations items, such as power tools, car parts, construction equipment and building materials, as well as office and food supplies.
The company’s online platform and mobile app connects businesses with 12,000 suppliers including Siam Cement, Unilever, PaperOne and Procter & Gamble. Ralali also offers fulfilment, logistics and financing services to its users.
Proceeds from the series C round will be used to accelerate Ralali’s international growth strategy. It will also look to use its partnership with Siam Cement to grow its business in Thailand.
Ralali raised $7m in a series B round backed by AddVentures, internet company Digital Garage and financial services firm SBI Group in September 2018.
The company had previously received $2.5m in series A funding in 2015 from investors including Beenos Plaza and CyberAgent Ventures, respective subsidiaries of e-commerce group Beenos and internet company CyberAgent, as well as East Ventures and an undisclosed angel investor.