Indonesian-based provider of multi-channel consumer product sales and marketing solutions, Pomona, has successfully closed a $3m series A2 fundraising round, led by Vynn Capital, with the support of Ventech China and Amand Ventures. Established investors Stellar Kapital and Central Capital Ventura also participated in the transaction.
‘No-brainer’ investment for tech-friendly Ventech
Co-founded in May 2016 by Benz Budiman (CEO) and Ari Suwendi (CTO), the purpose of Pomona is to provide marketing and digital sales solutions for the packaged consumer goods and fast-moving consumer goods sectors.“Thanks to our solutions, brands can now better understand consumer behavior at a local level and adapt their strategies to best respond to the needs of these clients,” stressed Pomona’s CEO. Thanks to this fundraising, the promising young Indonesian company is in a position to launch a raft of new products and services. “We envisage being able to provide brands targeting Indonesia and beyond significant added value.”
With its involvement in this transaction, Shanghai-based Ventech China has reaffirmed its interest in the internet, big data, blockchain and AI sectors. “Multi-channel marketing has become a big trend in the consumer goods sector in South East Asia. At Ventech, we believe that Pomona has set itself above the competition in an increasingly crowded marketplace,” said Eric Huet, the founder and managing partner of Ventech China. The fund, which has more than $350 million in assets under management, has the wherewithal to help Pomona realize its ambitions.
Indonesia: A promised land for investors
Ventech – an established name on both the European and Chinese venture capital scenes – is dedicated to assisting the best entrepreneurs the world over by, among other things, putting at their disposal, a large and expanding pool of local expertise. The fund has known how to harness the potential of Asia for the benefit of the ambitious investor. “The country is a hotbed of tech, it’s the China of ten years ago, with its unicorns and decacorns yet without exchange control restrictions!” commented Renee Kaddouch, a partner at Genesis Avocats Singapore who advised Ventech on this deal. She added, “American funds are extremely interested in mass investment, while in France we are not aware of the potential of the region, our first thoughts are of Bali and the beach!” In recent years the region has produced some of the most dynamic startups of the 21st century, such as Go-Jek, which counts Sequoia, KKR, Tencent and Visa among its capital, and in which Amazon is actively considering investing. Beyond Indonesia, other South East Asian territories, such as Vietnam and Singapore are attracting investors, and the latter can also serve as a regional platform. “All investors in the region are based out of Singapore, for legal security reasons,” adds Kaddouch, who has herself decided to settle there after five years in Indonesia.