Proglix, a B2B e-commerce platform for raw materials procurement and credit financing for Indonesian small and medium enterprises (SMEs), has raised US$1.35 million in seed funding.
The investors participating in the round are 500 Global, Number Capital, Magic Fund, Arkana Ventures, and MDI Arise.
Prominent angel investors, including the founder of Fazz, Evermos, Kenangan, and JIWA, also joined.
The startup will use the funds to expand its product offerings, increase customer outreach, and grow the team.
Founded in 2022 by Wynn Nathaniel (CEO), Wendy Wijaya (COO), and Prawira Indra (CTO), Proglix aims to be a one-stop shop for high-quality raw materials across multiple industries, including industrial, electrical, construction, and photovoltaic systems.
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It connects SMEs with raw materials at competitive prices and delivers them with shorter lead times. According to the firm, this allows SMEs to overcome the challenges of unreliable stock availability, delivery delays, and price fluctuations — the issues B2B businesses face when procuring raw materials through traditional suppliers like traders or wholesalers.
From integrating inventory updates and prices from multiple manufacturers to taking customer orders, tracking deliveries, and facilitating payments, Proglix claims it simplifies the procurement process for SMEs.
Customers can conveniently browse the online product catalogue, place their order with one click, and have it delivered by Proglix to their business address.
Proglix currently focuses on metals, steel, polymers, and electrical supplies.
Within the first year of operation, Proglix claims to have recorded a 66x revenue growth. It has also been accepted into Y Combinator’s winter batch programme from January to March 2023.
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