Roambee takes Internet of Things supply chain funding to $10mn
Roambee, the Internet of Things (IoT) supply chain and enterprise asset visibility company, today announced it has received $2 million in funding from MDI Ventures, Telkom Indonesia’s corporate venture capital firm.
With this, Roambee is nearing the completion of $10M in funding and rapid expansion across 7 countries in just 14 months.
MDI’s investment will be used to fuel Roambee’s entry into Indonesia and Southeast Asia’s booming logistics market. Roambee’s first customer in the region will include Telkom Indonesia, the largest telecommunication services company in Indonesia.
“Roambee’s end-to-end solution is best suited to meet the challenges of Indonesia’s varied supply chain ecosystem, which we will see realised when implemented as part of Telkom Indonesia’s enterprise services later this year.”
“The opportunity in Indonesia is huge,” says Roambee CEO Sanjay Sharma. “It’s one of the largest in the world, with almost 24 percent of the country’s GDP spent on logistics.
“With MDI’s investment, Roambee gains a significant advantage in quickly assuming a leadership position in driving the enterprise digital transformation of Indonesia across supply chain shipment and asset monitoring visibility.”
Global investment dynamics are changing with Asian VC funds, such as those from MDI, outpacing US VC investments for the first time. Related, recent research shows that Indonesia’s logistics market is expected to reach USD $240 billion by 2021.
After reviewing over 7,000 companies in the IoT smart logistics space, MDI Ventures chose to invest in Roambee due to its solution’s ability to track, trace and monitor in real-time through a broad array of sensors, while simultaneously doing important analytics and predictive reporting.
Nicko Widjaja, CEO of MDI Ventures, says, “Roambee’s end-to-end solution is best suited to meet the challenges of Indonesia’s varied supply chain ecosystem, which we will see realized when implemented as part of Telkom Indonesia’s enterprise services later this year.”
Based in Jakarta, with operations in Singapore and Silicon Valley, MDI Ventures uniquely combines a VC model with services in providing companies with a go-to-market strategy in Indonesia after making a financial investment.
MDI Ventures is currently Indonesia’s most active corporate venture capital with investments across 10 countries and more than 7 technology verticals. The trifecta of MDI Ventures, Telkom Indonesia, and Roambee is the most recent example of that strategically powerful approach.
“I am delighted to have MDI Ventures as our investors who believe in our vision,” Sharma adds. “We are very bullish on IoT-enabled supply chain applications and its global impact on industries and Indonesia. This investment will help us continue our hypergrowth trajectory.”
Grupo Espinosa: 70 years of constant evolution
Founded in 1952, Grupo Espinosa has been relentlessly supporting the publishing industry with producing more than 100 million copies every year – whether its books, magazines, catalogues or single-order custom prints. No project is big or small for Grupo Espinosa, as the facility can scale up on demand and their turnaround times are highly competitive. Grupo Espinosa works with on-demand digital press or offset press, in paperback with glued softcover binding, PUR softcover binding, stitched paperback binding, binder’s board, hardcover, saddle stitched, Spiral or Wire-O. Equipped with the experience needed for a product to leave the plant ready for distribution, Grupo Espinosa delivers anywhere inside or outside Mexico. Traditionally starting off as a black and white printing press, Grupo Espinosa has experienced transformation first hand – from colour to digital offset printing. Currently, Grupo Espinosa is also looking at making capital investments into audio books to match with the increasing demand.
So how did a seemingly local operation in Latin America become a world-renowned printing facility trusted by hundreds of clients? As Rogelio Tirado, CFO of Grupo Espinosa for the last six years says “It all comes down to our market experience and our dedication to quality”. With nearly 70 years behind them, and located in Mexico City, Grupo Espinosa has two major locations – one spanning 75,000 square metres and the other about 45,000 square metres. Both locations are controlled by a single ERP (Enterprise Resource Planning) system ensuring speed, consistency and quality of work. Tirado says this isn’t their only competitive advantage. He adds “Our competitive advantage is the relationship we have with customers and the trust they put in us with their intellectual property”. Speaking of trust, global publishing giant Macmillan Education exclusively partners with Grupo Espinosa for their Latin America operations, as part of Macmillan’s decentralized hub strategy. Having a facility that offered the full spectrum of service – from storing digital content to printing and distributing – was one of the major requirements for Macmillan, and Grupo Espinosa was recognized as the leading printing hub for providing this 360 infrastructure. Another factor that has led to success for Grupo Espinosa is the absolute focus on quality and time. The staff are committed to providing the best quality in the best possible time, without causing wastage of resources. Sustainability is a huge factor playing into Grupo Espinosa’s operations, and they’ve created a healthy environment with the sustainable use of paper and energy resources as well as keeping their employees – most of them associated with the organisation for over 10 years – happy. He adds, “In order to be truly successful, you need to be good to the environment, employees, suppliers, and your customers. But most importantly, you need to be sustainable, you need to have proper working conditions, pay proper salaries, proper prices for paper, source the paper from sustainable sources, pay your taxes, basically be a good global corporate citizen and that's probably one of the biggest achievements that we have.”