Gate News message, April 15 — Baskit, a supply chain tech startup focused on offline trade in Southeast Asia, raised $4.4 million in the first close of its Series A round led by Cento Ventures. The funding will support Baskit’s expansion into the Philippines, its first market outside Indonesia.
The round brings Baskit’s total equity funding to $9.9 million. The company also secured a $3 million revolving credit facility from HSBC Innovation Banking and has remained profitable for the past 1.5 years.
Baskit’s model centers on empowering traditional distributors and wholesalers rather than replacing them. Its software helps these businesses track inventory and handle orders across Indonesia’s fragmented market, which includes over 200,000 traditional distribution businesses.
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