Juragan Material nets US$4M to grow its B2B marketplace for building materials in Indonesia

Juragan Material, a B2B marketplace providing a procurement solution for sourcing building materials, has raised US$4 million in seed funding led by Go-Ventures, with participation from SIG.

The startup will use this funding to grow its team, strengthen market penetration of its B2B construction and building material marketplace and innovate and deepen the capabilities of its product ecosystem.

“The construction sector is a significant contributor to Indonesia’s GDP. Building and construction materials represent a US$72 billion market with over 200,000 construction establishments. Despite its importance to Indonesia’s economy, the sector’s supply chain is highly fragmented with multiple layers, resulting in unpredictable demand and supply, lack of pricing transparency, inconsistent quality of materials, and an overall lack of coordination. Less than 1 per cent of supply chain transactions are captured digitally, so contractors and project owners must resort to highly inefficient and cumbersome procurement methods,” said Arum Putri, Vice President at Go-Ventures.

Also Read: How the construction industry got “smart” and cleaned up its impact

Founded in 2021, Juragan Material has over 9,000 SKUs and 180 brands across structural, architectural, mechanical and electrical products onboarded onto the platform. Contractors and project owners can benefit from reduced effort and time spent sourcing products, fewer errors on-site, and better control over project timelines.

It claims to have doubled its GMV monthly on average last year while maintaining positive unit economics.

Tito Putra, CEO and Co-Founder of Juragan Material, said: “We are focused on building a trusted technology platform for procuring construction materials. Building and construction materials represent one of the most complex supply chains. Juragan Material aims to provide top value to contractors and project owners by offering them the most comprehensive selection of products, improved supply visibility, and reliable logistics to manage their projects more efficiently.”

“This new funding will allow us to scale our impact through continuing to improve our platform and launch more innovative tech solutions, such as workflow management tools and services. They will drive greater efficiencies and transparency to support the productivity of our stakeholders,” he added.

—

The post Juragan Material nets US$4M to grow its B2B marketplace for building materials in Indonesia appeared first on e27.