Tracxn - Rural E-Commerce Startup Landscape

Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Rural E-Commerce - Jun 2019
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
TAKE SHARPER DECISIONS
WITH TRACXN
✓ Analyst team Covering 250+ Sectors
✓ Proprietary Business Model tagging
✓ 6000+ On-demand Queries answered
✓ Sector Reports, Market Maps
✓ One-Click Connect with Founders
Join 500+ Investors & Corporates to get the
Tracxn Advantage

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on June 4, 2019.
Rural E-Commerce Feed Summary
4
Rural E-Commerce > Feed Summary
Companies providing e-commerce platforms targeted at rural customers. Companies providing tech enabling solutions
like logistics platforms to the rural e-commerce market would also be covered.
• Inclusions: Companies providing B2B and B2C e-
commerce platforms for rural market, e-commerce
enabling solutions such as logistics platforms for the rural
market.
• Exclusions: Companies providing e-commerce
platforms or e-commerce enablers focused on urban
markets, e-commerce platforms selling rural sourced
goods.
• Excludes funding information of Chinese companies
Feed in Numbers
Overview
$56.6M
Funding
-
Mega
Companies
1336
FundedCovered on
Tracxn
-
Unicorns
-
Soonicorns
1
Minicorns
-
IPO’d Cos
8
Late Stage Cos
-
1
Acquisitions
9
DeadPooled
-
Acquihired
Series A+ Cos
Connect India
(2015, Bangalore, $9.8M)
Dukanline
(2014, Hyderabad)
StoreKing
Top Companies

Investment Trend Summary
Summary of Funding Activity in Rural E-Commerce
5
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
Rural E-Commerce > Feed Summary > Investment Trend Summary
Seed East Ventures (#1), Frontline Strategy (#1), Splice Capital (#1)
Series A/B Ventureast (#2), Orios Venture Partners (#2), Goodwell (#1)
Series C+
Incubators 500 Startups (#1), Brand Capital (#1)
Other Notable
Investors
Indian Angel Network (#2), Singapore Angel Network (#2), Axiata
(#1)
Debt Investors
Most Active InvestorsRecent Investments
5
9
4
2
1
2014 2015 2016 2017 2018 2019*
Y-o-Y # of Companies Founded 4 7 7 7 4 2
$46M
$11.4M
$451k
India
US
SEA
$ Funding
$6M
$1M
$7M
$18M
$4M
$17M
$13M
4
2014 2015 2016 2017 2018 2019*
$ Funding # Rounds

Summary of exit outlook in Rural E-Commerce
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Apr 2017 Kudo Acq by Grab
Rural E-Commerce > Feed Summary > Exit Outlook Summary
Grab 1 Kudo (Apr 2017)
Tencent 0
Recent IPOs Top Acquisitions

Key Sub Sectors in Rural E-Commerce Sector
Summary of Key Markets
7
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
B2C E-Commerce > Assisted E-Commerce >
Digital Kiosk 14 $19.6M 6
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
B2C E-Commerce
Companies selling consumer products in rural markets
through their online platform
30 11 $46.8M
Enablers
Companies providing tech solutions enabling retailers
to run their businesses online...
3 1 $9.8M
B2B E-Commerce
Online platforms enabling rural businesses to buy
consumer-focused products from other...
3 1 -
Rural E-Commerce > Feed Summary > Summary of Key Markets

Recent News in Rural E-Commerce Sector
Recent News
9
Rural E-Commerce > Feed Summary > Recent News
May 2019
KOKO launches first Network in Nairobi, connecting 700 shops in
unique energy, e-commerce and media platform, Fintech Finance
May 2019 DeHaat Secures $2.84 Mn Venture Debt From Trifecta Capital, Inc42
Apr 2019 China’s AiHuiShou has global ambitions, AIM Group
Key Recent News

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
10
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Cross Border Commerce
Apr 2019
Docker Ecosystem
Apr 2019
eSports
Apr 2019

Investments ($M) and number of rounds in Rural E-Commerce; 2012-2019
Global Funding Trends (1/2)
12
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Rural E-Commerce > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 17% # of Rounds50% $ Funding
12% # of Rounds
33% $ Funding
$6M
$1M
$3M
$1M
$7M
$18M
$4M
$17M
$13M
0
1
2
3
4
5
6
7
8
$0k
$2M
$4M
$6M
$8M
$10M
$12M
$14M
$16M
$18M
$20M
2012 2013 2014 2015 2016 2017 2018 2019*
$ Funding Predicted $ Funding # Rounds Predicted # Rounds

$1M $3M $1M $315K $444K $1M $0K
$0K $0K $0K
$7M $17M
$3M
$17M $6M
$0K $0K $0K $0K $0K $0K $0K
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
2 4 4 2 3 6 1
5
4
1
3
2
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
2 2
Total # of Rounds
13
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded Club
Global Funding Trends (2/2)
Investments ($M) and number of rounds in Rural E-Commerce; 2012-2019
Rural E-Commerce > Investment Trends > Global Funding Trends
3
3
1
2
2
1
12
$0.5M
$0.7M
$0.0M
$0.5M
$1.0M
$1.5M
$2.0M
$2.5M
$3.0M
$3.5M
$4.0M
$4.5M
0
2
4
6
8
10
12
14
2013 2014 2015 2016 2017 2018 2019 YTD Total
Entrants in Funding Club Avg. Ticket Size
$0.5M $0.2M $0.2M $0.1M $0.2M $4M - $0.7M
$1M
$6M
Total $ Invested
0
0.2
0.4
0.6
0.8
1
1.2
0
0.2
0.4
0.6
0.8
1
1.2
2012 2013 2014 2015 2016 2017 2018 2019 YTD
$ Funding Predicted $ Funding # of Rounds Predicted # Rounds
Mega Rounds
- - - - - - - -

Rural E-Commerce > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in Rural E-Commerce
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Bangalore 30.6M 12
Bay Area 11.4M 4
Chennai 8.5M 7
Muzaffarpur 4.5M 3
Mumbai 2.1M 3
Jakarta 451k 5
Hyderabad 320k 2
Durban 0 1
Muzaffarpur 0 0
Muzaffarpur 0 0
Total Funding
10
4
5
# Rounds
$46M
$11.4M
$451k
India
US
SEA
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$0.7
$1.3
$0.3 $0.2 $0.1 $0.2
2012 2013 2014 2015 2016 2017 2018
Rural E-Commerce > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in Rural E-Commerce; 2012-2018
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$14.7K* $1.9M
$1.5M $9.4M
$16M $16M
$0 $0
$16M
$3.6M
$228K
Series C+
Series B
Series A
Seed
Stage
$16.0
$3.5
$1.5
$3.1
$5.7

Note: 6 companies with undisclosed funding amount are not included
16
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
3
5
2
No. of Companies
Rural E-Commerce > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in Rural E-Commerce; as of Jun 2019
Distribution of companies by Funding Range
$1M
$25M
$30M
$ Investment

Stage No. of Companies
Funding
Funnel
100%
36%
22%
3%
0%
17
Note: Numbers in the brackets show the count of companies
Time to raise
next round
-
1
8
13
36
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
36% - - - 25%
(9)
39%
(14)
62% - - - 15%
(2)
23%
(3)
13% - - - - 88%
(7)
0% - - - - 100%
(1)
- - - - - -
Rural E-Commerce > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in Rural E-Commerce
Funding Funnel
13 Months
25 Months
0 Months
Investment backedBootstrapped
10
0
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Rural E-Commerce > Investment Trends > Notable Investments in last 24 months in China
Major funding rounds by Stage in Rural E-Commerce; Jun 2017-Jun 2019
Notable Investments in last 24 months in China
LATE STAGE
$266M - Series D Jan 2019
Yimidida (2015, Shanghai, $404M)
Provider of logistics platform catering to the rural e-
commerce market
Source Code Capital, Boyu Capital
$150M - Series E Jul 2018
Aihuishou (2011, Shanghai, $282M)
Online buy-back platform for pre-owned electronic
products
JD.com, Tiger Global Management
$79.4M - Series C Apr 2018
commerce market
Sino-Ocean, ProLogis, Source Code Capital
EARLY STAGE
$44.3M - Series B Jul 2017
commerce market
CDH Investments, Source Code Capital, K2VC, GLP
Series B Dec 2017
commerce market
CDBII

Most Active Investors (VC, PE) by Stage in Rural E-Commerce; Last 5 years (Jun 2014-Jun 2019)
Most Active VC & PE Investors
19
Rural E-Commerce > Investment Trends > Most Active VC & PE Investors
SEED STAGE
East Ventures
Kudo
1
Frontline Strategy
Edabba
2
Splice Capital
BoonBox
3
EARLY STAGE
Ventureast(2 Investments)
BoonBox, Inthree
1
Orios Venture Partners (2 Investments)
BoonBox, Inthree
2
Goodwell
Copia Global
3
Spiral Ventures
Kudo
4
Aavishkaar
Connect India
5
SPH Ventures
Kudo
6
Skystar Capital
Kudo
7
Omnivore Partners
e-dehaat
8
Kingson Capital
Spazapp
9
STRIVE
Kudo
10

Rural E-Commerce > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in Rural E-Commerce; Last 5 years (Jun 2014-Jun 2019)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
500 Startups
Kudo
1
Brand Capital
Edabba
2
OTHER NOTABLE INVESTORS
Indian Angel Network(2 Investments)
BoonBox, Inthree
1
Singapore Angel Network(2 Investments)
BoonBox, Inthree
2
Axiata
StoreKing
3
AgFunder
e-dehaat
4
Emtek
Kudo
5
Pragnya
BoonBox
6
South Yarra Holdings
BoonBox
7
kubos.biz
BoonBox
8
mknt.id
Kioson
9
Azzil Trading
Connect India
10

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
21
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Early Stage Investors
Market Deep Dive

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Cross Border Commerce
Apr 2019
Product Discovery
Apr 2019
Home Improvements
Apr 2019

Key Sub Sectors
23
Key Sub Sectors in Rural E-Commerce
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
B2C E-Commerce
Companies selling consumer products in rural markets through their online platform
StoreKing (2012, Bangalore, $19.1M)
Dukanline (2014, Hyderabad)
30 11 $46.8M
Enablers
Companies providing tech solutions enabling retailers to run their businesses online in the
rural markets
Connect India (2015, Bangalore, $9.8M)
Airbox Shipping (2015, Bhubaneswar)
3 1 $9.8M
B2B E-Commerce
Online platforms enabling rural businesses to buy consumer-focused products from other
businesses
Spazapp (2011, Durban)
Gadex (2015, Bangalore)
3 1 -
Rural E-Commerce > Market Details > Key Sub Sectors

Detailed Sector Taxonomy
24
Rural E-Commerce > Market Details > Detailed Sector Taxonomy

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(-)
B2C E-Commerce > Assisted E-Commerce > Digital Kiosk
Companies providing purchase assistance to rural buyers through kiosks installed at partner retail
stores
(Companies covered 14 | Funded 7 | Total Funding $40M)
$19.6M
(+$2.7M)
6
(-1)
Copia Global
(2010, Tiburon, $11.4M)
2
(-)
B2C E-Commerce > Marketplace
Companies providing e-commerce platforms connecting sellers with buyers in rural markets
(Companies covered 5 | Funded 1 | Total Funding $4.5M)
$4.3M
(+$4.2M)
1
(-)
e-dehaat
(2017, Muzaffarpur, $4.5M)
25
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets by Funding in Rural E-Commerce in last 2 years (June 2017 - May 2019)
Rural E-Commerce > Market Details > Top Markets of Investment Activity

Incubators 500 Startups (#1)
Seed Indian Angel Network (#1), East Ventures (#1)
Series A/B Ventureast (#2), Orios Venture Partners (#2)
Series C+
Kudo Apr - 2017
Acq by Grab
$2M - Series A
Copia Global (2010, Tiburon, $11.4M)
$9.4M - Series A
Copia Global (2010, Tiburon, $11.4M)
$3.6M - Series A
BoonBox (2012, Chennai, $4.5M)
$4M - Series A
Inthree (2013, Chennai, $4M)
$156k - Seed
$451k - Seed
Kioson (2015, Jakarta, $451k)
$77.7k - Angel
$511k - Seed
1Bridge (2016, Bangalore, $526k)
$14.7k - Angel
1Bridge (2016, Bangalore, $526k)
Series A
Kudo (2014, Jakarta)
$138k - Angel
News
1
-
5
7
14
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
B2C E-Commerce > Assisted E-Commerce > Digital Kiosk: Market Factsheet
26
Exits
Most Active Investors
Recent InvestmentsCompanies providing purchase
assistance to rural buyers through
kiosks installed at partner retail
stores
StoreKing
Dukanline
(2014, Hyderabad)
Copia Global
(2010, Tiburon, $11.4M)
BoonBox
(2012, Chennai, $4.5M)
Inthree
(2013, Chennai, $4M)
Top Companies
#1 Top Markets of Investment Activity
Rural E-Commerce > Market Details > Market: Digital Kiosk
Companies Created 14 | Funded 7 | Total Funding $40M
0
5
10
$0k
$20M
$40M
2014 2015 2016 2017 2018
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds
Market: Digital Kiosk

B2C E-Commerce > Assisted E-Commerce > Digital Kiosk: Top Companies
Analyst’s Pick
E-commerce enabler for offline stores in small
towns
Minicorn. Stage: Series B
Axiata, Mangrove Capital Partners, Kanwaljit Singh
Assisted e-commerce platform within an offline
retail stores enabling them to sell out-of-stock
products
Editor's Pick. Stage: Unfunded

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
28
B2C E-Commerce > Assisted E-Commerce > Digital Kiosk: Leaderboard
Better than Market Average
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Kudo 2014 Jakarta Acquired - 4 - 4 - - 3.7k 3.1M 49.3k - 16.1k 48% 225 6%
4.3 StoreKing 2012 Bangalore Series B $19.1M 4 5 - - - 114 - - - - - 12 12%
4.0 Kioson 2015 Jakarta Seed $451k 1 - 4 - - - 300k 4.3k - 1.3k 40% - -
3.3 Copia Global 2010 Tiburon Series A $11.4M 5 - - - - - - - - - - - -
3.2 Inthree 2013 Chennai Series A $4M 1 2 - - 4 7 - - - - - 1 17%
2.3 BoonBox 2012 Chennai Series A $4.5M 6 - - - - - - - - - - - -
2.1 1Bridge 2016 Bangalore Seed $526k 2 - - - 4 - - - - - - - -
1.4 IPay 2012 Hyderabad Unfunded - - - 4 - - - 31k 226 - 2 1% - -
1.2 MeraHaat 2013 Kolkata Unfunded - - - - - - 56 - - - - - 2 4%
0.8 Dukanline 2014 Hyderabad Unfunded - - - - - 4 - - - - - - - -
0.0 Bazoki 2016 Kolkata Unfunded - - - - - - - - - - - - - -

Incubators
Seed IIM Calcutta (#1)
Series A/B Omnivore Partners (#1), AgFunder (#1)
Series C+
None
$4.3M - Series A
e-dehaat (2017, Muzaffarpur, $4.5M)
$73.6k - Seed
$79.1k - Angel
May 2019
DeHaat Secures $2.84 Mn Venture Debt From Trifecta
Capital, Inc42
News
-
-
1
1
5
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
B2C E-Commerce > Marketplace: Market Factsheet
29
Exits
Recent InvestmentsCompanies providing e-commerce
platforms connecting sellers with
buyers in rural markets
Ehaat
(2012, Delhi)
MiniDukan
(2018, Noida)
Pasarwarga
(2015, Jakarta)
e-dehaat
(2017, Muzaffarpur, $4.5M)
Itigershop
(2014, Gurgaon)
Top Companies
Rural E-Commerce > Market Details > Market: Marketplace
Companies Created 5 | Funded 1 | Total Funding $4.5M
0
0.5
1
1.5
$0k
$50k
$100k
2014 2015 2016 2017 2018
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds
Market: Marketplace

B2C E-Commerce > Marketplace: Top Companies
Market: Marketplace
Analyst’s Pick
Ehaat (2012, Delhi)
Internet-enabled marketplace for rural customers
MiniDukan (2018, Noida)
Online marketplace for multi-category products
Pasarwarga (2015, Jakarta)
Assisted purchase marketplace for multi-category
products

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
31
B2C E-Commerce > Marketplace: Leaderboard
Better than Market Average
Market: Marketplace
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 e-dehaat 2017
Muzaffarpu
r
Series A $4.5M 3 - - - 4 25 - - 1 - - - -
3.1 Ehaat 2012 Delhi Unfunded - - 4 5 4 - - 4k 30 - 3 11% - -
2.1 Pasarwarga 2015 Jakarta Unfunded - - - - - 3 12.8k - - - - - 24 -
0.8 Itigershop 2014 Gurgaon Unfunded - - - - - - 372 300 - - - - -14 -4%
0.0 MiniDukan 2018 Noida Unfunded - - 3 - - 3 - - - - - - - -

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
32
Top Acquirers

Most Active Acquirers
34
Rural E-Commerce > Exit Outlook > Most Active Acquirers

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
35
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players

Rural E-Commerce > Investors > Index of Most Active VC & PE Investors
Index of Top Investors (VC, PE) by Stage in Rural E-Commerce; Last 5 years (Jun 2014 - May 2019)
Index of Most Active VC & PE Investors
SEED STAGE
East Ventures
Frontline Strategy
Splice Capital
EARLY STAGE
Ventureast (2 Investments)
Orios Venture Partners (2 Investments)
Goodwell
Spiral Ventures
Aavishkaar
SPH Ventures
Skystar Capital
Omnivore Partners
Kingson Capital
STRIVE

East Ventures
38
Portfolio in Rural E-Commerce | Exits | Funds Link | Website | LinkedIn | Twitter
Rural E-Commerce > Investors > East Ventures
People
Investments
[Unicorn] Tokopedia (2009, Jakarta, $2.4B, Series G)
[Unicorn] Traveloka (2012, Jakarta, $920M, Series D)
Online platform for travel bookings
[Unicorn] Mercari (2013, Palo Alto, $114M, Public)
P2P mobile first marketplace for multi-category products
[Unicorn] TriNet (1988, San Leandro, $60M, Public)
HR management system to small and medium-sized businesses
[Soonicorn] Blockstream (2014, San Francisco, $101M, Series B)
Blockchain development focused on sidechains innovation
[Soonicorn] Warung Pintar (2017, Jakarta, $35.5M, Series B)
Smart retail store solution provider
[Soonicorn] Bitflyer (2014, Minato, $33.8M, Series B)
Bitcoin exchange in Japan
[Minicorn] ShopBack (2014, Singapore, $40M, Series A)
Online platform for rewards & cashback from eCommerce stores
[Minicorn] Tapzo (2010, Bangalore, $38.7M, Acqui-Hired)
AI powered content and commerce platform
[Minicorn] Monstar Lab (2006, Shibuya, $37.7M, Series C)
Software developers outsourcing platform
[Minicorn] Money Design (2013, Minato, $36.2M, Series C)
Automated investment platform.
[Minicorn] Make School (2012, San Francisco, $30M, Series B)
Online and offline courses in web development and programming
[Minicorn] Shippo (2013, San Francisco, $29M, Series B)
API for international shipping
[Minicorn] CAMPFIRE (2011, Shibuya, $28.9M, Series C)
Tokyo-based crowdfunding platform.
Other Notable Portfolio
Top Exits
Recent News on Fund & Portfolio
Willson Cuaca
Co-Founder &
Managing Partner
Taiga
Matsuyama
Co-Founder &
Managing Partner
Batara Eto
Co-Founder &
Managing Partner
Geographical Spread Stage of Entry
None
Kudo
(2014, Jakarta)
Acq by Grab - Apr 2017
1 11
2014 2015 2016 2017 2018 2019
Follow On New Investments
-
-
-
-
1
Undisclosed
Series C+
Series B
Series A
Seed1
-
-
-
-
SEA

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
39
Seed Stage
Early Stage
Late Stage

Spiral Ventures
40
Rural E-Commerce > Investors > Spiral Ventures
People
Investments
[Unicorn] Bukalapak (2011, Jakarta, $50M, Series D)
Online horizontal marketplace for pre-owned products
[Soonicorn] ShareThis (2007, Palo Alto, $71.3M, Series D)
Content Analyser and Sharing platform
[Minicorn] First Circle (2015, Manila, $28.5M, Series A)
Online lending platform for short term SME loans.
[Minicorn] Carsome (2015, Kuala Lumpur, $28.4M, Series B)
Online used car auction platform
[Minicorn] Sorabito (2012, Tokyo, $15.6M, Series A)
Second-hand construction equipment marketplace
[Minicorn] Docquity (2014, Delhi, $11M, Series B)
Mobile application for doctor's professional network
[Minicorn] CrownIt (2014, Gurgaon, $10.4M, Series B)
Cashback offers from partnered outlets that can be redeemed for
online shopping & bill payments
[Minicorn] iPrice (2014, Kuala Lumpur, $9.8M, Series B)
E-commerce marketplace and deals aggregator
[Minicorn] RoomClip (2012, Shibuya, $8.2M, Series A)
User generated interior designing content sharing platform
[Minicorn] Oku Tech (2014, Gurgaon, $7.4M, Series A)
Provider of technological solutions for the real estate industry
[Minicorn] BroEx (2014, Gurgaon, $7.3M, Series A)
Networking, communication and property search app for real estate
brokers
[Minicorn] iMoney (2012, Kuala Lumpur, $6.5M, Series B)
Financial products comparison platform
[Minicorn] mClinica (2012, Singapore, $6.3M, Series A)
Platform for pharmacies and pharmacy professionals
Top Exits
Yuji Horiguchi
CEO & Managing
Partner
None
Kudo
(2014, Jakarta)
1
2014 2015 2016 2017 2018 2019
-
-
-
1
-
Undisclosed
Series C+
Series B
Series A
Seed1
-
-
-
-
SEA

SPH Ventures
41
Rural E-Commerce > Investors > SPH Ventures
People
Investments
[Soonicorn] Visenze (2012, San Francisco, $34.5M, Series C)
AI-based visual search and recognition tools for e-tailers
[Soonicorn] Funding Societies (2015, Singapore, $32.5M,
Series B)
Online P2B lending platform for SMEs
[Soonicorn] Wochit (2012, Beit Dagan, $28.8M, Series C)
Video Creation Platform
[Minicorn] Victorious (2013, Santa Monica, $50M, Series B)
Mobile platforms for fans
[Minicorn] Chope (2011, Singapore, $23.9M, Series D)
Online platform for restaurant reservations
[Minicorn] MoneySmart (2009, Singapore, $11.8M, Series B)
Financial products comparison platform
[Minicorn] Docquity (2014, Delhi, $11M, Series B)
Mobile application for doctor's professional network
[Minicorn] Peatix (2011, Astoria, $9.6M, Series B)
Event and ticket management solution
[Minicorn] TheLorry (2014, Kuala Lumpur, $7.4M, Series B)
On demand cargo transportation services
[Minicorn] Burpple (2012, Singapore, $6.8M, Series A)
Social food review platform
[Minicorn] KooBits (2007, Singapore, Series A)
Online learning platform for schools
[Editor's Pick] Jewel Paymentech (2014, Singapore, $1.2M,
Series A)
Payment & fraud risk management solution
Top Exits
Chua Boon Ping
CEO
None
Kudo
(2014, Jakarta)
1
2014 2015 2016 2017 2018 2019
-
-
-
1
-
Undisclosed
Series C+
Series B
Series A
Seed1
-
-
-
-
SEA

Skystar Capital
42
Rural E-Commerce > Investors > Skystar Capital

STRIVE
43
Rural E-Commerce > Investors > STRIVE

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
44
Incubators
Other Notable Investors
Debt Investors

Rural E-Commerce > Investors > Index of Ecosystem Investors
Index of Top Ecosystem Investors in Rural E-Commerce; Q2 2014 - Q2 2019
Index of Ecosystem Investors
INCUBATOR
500 Startups
Brand Capital
OTHER NOTABLE INVESTORS
Indian Angel Network (2 Investments)
Singapore Angel Network (2 Investments)
Axiata
AgFunder
Emtek
Pragnya
South Yarra Holdings
kubos.biz
mknt.id
Azzil Trading
icco-investments.org
IIM Calcutta
IMJ Investment Partners
Pinnacle Industries
Sektra

500 Startups
46
Rural E-Commerce > Investors > 500 Startups
People
Investments
[Unicorn] Grab (2012, Singapore, $8.2B, Series H)
Technology company focused on on-demand transportation services
[Unicorn] Credit Karma (2007, San Francisco, $370M, Series D)
Aggregator of various consumer financial products.
[Unicorn] Intercom (2011, San Francisco, $241M, Series D)
Customer communication and Retention Platform
[Unicorn] Twilio (2007, San Francisco, $240M, Public)
Cloud Communications API provider
[Unicorn] Canva (2012, Sydney, $166M, Series C)
Online photo editing and graphics creation tool for professionals
[Unicorn] Gitlab (2014, San Francisco, $166M, Series D)
Code collaboration tool
[Unicorn] Talkdesk (2011, San Francisco, $128M, Series B)
Browser based call center
[Soonicorn] Carousell (2012, Singapore, $183M, Series C)
Online listing platform for multi-category pre-owned products
[Soonicorn] VTS (2011, New York City, $178M, Series D)
Leasing and asset management software for real estate investment
[Soonicorn] Smule (2008, San Francisco, $176M, Series F)
Developer of social music creation and sharing apps
[Soonicorn] Udemy (2010, San Francisco, $173M, Series D)
Marketplace for online courses
[Soonicorn] Clip (2012, Mexico City, $160M, Series C)
mPoS solution provider
[Soonicorn] Knotel (2015, New York City, $160M, Series B)
Managed co-working space for startups.
[Soonicorn] Akulaku (2014, Pasig, $145M, Series C)
Mobile app which gives cardless installment payment
Top Exits
Christine Tsai
Co-Founder & CEO
None
Kudo
(2014, Jakarta)
11
2014 2015 2016 2017 2018 2019
-
-
-
1
-
Undisclosed
Series C+
Series B
Series A
Seed1
-
-
-
-
SEA

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
47
Incubators
Other Notable Investors
Debt Investors

Emtek
48
Rural E-Commerce > Investors > Emtek
Investments
Top Exits Recent News on Fund & Portfolio
NoneKudo
(2014, Jakarta)
11
2014 2015 2016 2017 2018 2019
-
-
-
1
-
Undisclosed
Series C+
Series B
Series A
Seed1
-
-
-
-
SEA

IMJ Investment Partners
49
Rural E-Commerce > Investors > IMJ Investment Partners
Investments
Top Exits Recent News on Fund & Portfolio
NoneKudo
(2014, Jakarta)
1
2014 2015 2016 2017 2018 2019
-
-
-
1
-
Undisclosed
Series C+
Series B
Series A
Seed1
-
-
-
-
SEA

Contents
Feed Summary
Investment Trend
Key Markets
Exit Outlook
Investors
News
Appendix
51
Recent News

Recent News in Rural E-Commerce Sector
Recent News
52
Rural E-Commerce > News > Recent News
May 2019
KOKO launches first Network in Nairobi, connecting 700 shops in
unique energy, e-commerce and media platform, Fintech Finance
May 2019 DeHaat Secures $2.84 Mn Venture Debt From Trifecta Capital, Inc42
Apr 2019 China’s AiHuiShou has global ambitions, AIM Group
Key Recent News

Contents
Feed Summary
Investment Trend
Key Markets
Exit Outlook
Investors
News
Appendix
53
Explore more on Tracxn Platform
Index of Top companies by Market
Funded Deadpooled Companies

Explore more on Tracxn Platform
55
Companies
Companies Covered
Unicorns
Public Companies
Acquired Companies
Funded Companies
Investment Trends
Recent Investments
Mega Investments
Investment Trend
Markets
BlueBox
Taxonomy
News
Key News
Recent News
Company Stage
Seed Funded
Early Stage (Series A/B)
Late Stage (Series C+)
Acqui-hires
Deadpooled
Investors Acquirers
Unicorn Investors
Most Active VC &PE Investors
Portfolio of Top Investor
Most Active Acquirer
Rural E-Commerce > Appendix > Explore Sector on Tracxn Platform

Index of IPOs, Acquisitions, Unicorns, Soonicorns, Minicorns and Editor Picks in Rural E-Commerce
Index of Top companies by Market (1/2)
56
Rural E-Commerce > Appendix > Index of Top companies by Market
B2C E-Commerce
Marketplace
Ehaat (2012, Delhi)
Internet-enabled marketplace for rural customers
MiniDukan (2018, Noida)
Pasarwarga (2015, Jakarta)
Assisted purchase marketplace for multi-category
products
Assisted E-Commerce
E-commerce enabler for offline stores in small
towns
Minicorn. Stage: Series B
Axiata, Mangrove Capital Partners, Kanwaljit Singh
Assisted e-commerce platform within an offline
retail stores enabling them to sell out-of-stock
products
B2B E-Commerce
Marketplace
Spazapp (2011, Durban)
Online B2B marketplace for multi-category
products catering to rural markets
Editor's Pick. Stage: Series A
Kingson Capital

Index of IPOs, Acquisitions, Unicorns, Soonicorns, Minicorns and Editor Picks in Rural E-Commerce
Index of Top companies by Market (2/2)
57
Rural E-Commerce > Appendix > Index of Top companies by Market
Enablers
Logistics
Connect India (2015, Bangalore, $9.8M)
Provider of logistics platform catering to rural
customers
Editor's Pick. Stage: Series A
Aavishkaar, Azzil Trading, Mohandas Pai and 1
Other Investors

Funded Deadpooled Companies
58
Rural E-Commerce > Appendix > Funded Deadpooled Companies
Funding Company Location
$2.1M Edabba Mumbai
$320k Realshoppee Hyderabad
Index of Deadpooled companies in Rural E-Commerce
1. Excludes all details for Chinese companies. 2. View all 9 Deadpooled companies on Tracxn Platform

Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.
Any and all information either accessed from the website www.tracxn.com or having otherwise originated from Tracxn Technologies Private Limited including but not limited to the
information contained herein ("Data") is the sole property of Tracxn Technologies Private Limited (hereinafter "Tracxn"). You shall not recirculate, distribute, transmit, publish, or sell the
Data or any portion thereof in any form or by any means, either for commercial or non-commercial use, or permit any third party to use or distribute the Data or any portion thereof; to any
other party, except with the prior written consent of Tracxn. You may however incorporate insubstantial portions, extracts, abstracts or summaries from the Data into analysis, presentations
or tools for your customers or for your internal use, so long as Tracxn is clearly and visibly identified as the source of information.
For further information please refer to our Terms of Use at www.tracxn.com

Tracxn - Rural E-Commerce Startup Landscape

Recommended

Recommended

More Related Content

What's hot

What's hot (20)

Similar to Tracxn - Rural E-Commerce Startup Landscape

Similar to Tracxn - Rural E-Commerce Startup Landscape (20)

More from Tracxn

More from Tracxn (20)

Recently uploaded

Recently uploaded (20)

Tracxn - Rural E-Commerce Startup Landscape