Indonesia-based retail management software developer Warung Pintar obtained $27.5m in series B round yesterday backed by corporates including messaging platform Line and conglomerate Sinar Mas, Digital News Asia reported yesterday.
Internet company Digital Garage, conglomerate Triputra Group and payments technology provider Ovo also took part. Line and Sinar Mas invested through respective corporate venturing units Line Ventures and SMDV.
The round was filled out by two Singaporean government-owned firms, Vertex Ventures and Pavilion Capital, together with Agaeti, East Ventures and private investor Jerry Ng.
Founded in 2017, Warung Pintar helps to modernise road-side kiosks and market stalls by providing technology and data analytics to merchants.
The kiosks provide wifi hotspots, charging ports for phones and television screens, and facilitate cashless payment options through gateways such as Ovo.
The company has grown to 1,150 kiosks to date but plans to increase the number to more than 5,000 by the end of the year.
In August 2018, Warung Pintar raised $4m in a round that included Line Ventures, Vertex and Pavilion. The deal came six months after Digital Garage, Triputra Group, Sinar Mas, East Ventures and Insignia Ventures Partners backed a $4m seed round.