Sayurbox Funding, Investors & Competitors

Sayurbox has raised $139M across 4 funding rounds, most recently a $119M Series C in March 2022.

Last Sayurbox funding round

$119M

Series C · Mar 2022

Cumulative funding Sayurbox raised

$139M

across 4 funding rounds

Key investors in Sayurbox

  • Ondine Capital
  • Global Brain Corporation
  • Astra International
  • International Finance Corporation
  • Alpha JWC Ventures
  • Syngenta Ventures
  • Northstar Group
  • BRI Ventures

Sayurbox Overview

About Sayurbox

Sayurbox is a Bandung-headquartered Indonesian online grocer delivering fresh fruits, vegetables, and staples from urban farms. Founded in 2016, the platform operates a network of 50 partner farms supplying Jakarta and Bandung markets daily, with same-day delivery and subscription boxes emphasizing local produce.


Founded

2016

HQ

IndonesiaJakarta

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Sayurbox Funding History

Sayurbox has raised a total of $139M across 4 funding rounds.

Sayurbox's first fundraising round was a $700K seed round in July 2019. The most recent completed round was a $119M Series C in March 2022.

Sayurbox funding rounds

Sayurbox funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2022Series CAlpha JWC Ventures (lead); Northstar Group (lead); Global Brain Corporation; Syngenta Ventures; Ondine Capital; BRI Ventures; Astra International; International Finance Corporation$119MSayurbox, founded in 2017, operates Indonesia's leading B2C e-grocery platform, integrating farm-to-consumer supply chain with over 5,000 SKUs including fresh produce, meat, poultry, snacks, and ready-to-eat dishes. It serves around 1 million customers in Java and Bali, partnering with more than 10,000 farmers, aiming to expand to 40,000 by 2024. The platform uses proprietary algorithms for demand forecasting, inventory planning, and route optimization to ensure delivery within 12 hours from harvest, reducing wastage and improving freshness, pricing, and on-time delivery. On March 21, 2022, Sayurbox raised $120 million in an oversubscribed Series C round led by Alpha JWC Ventures and Northstar Group, with participation from IFC ($10 million), Astra International, Syngenta Group Ventures, Global Brain Corporation, BRI Ventures, Ondine Capital, and undisclosed angels. Funds will expand e-grocery penetration in new and existing cities, scale digital platform, enhance supply chain infrastructure, technology for optimization, warehouse and fulfillment, geographic reach, and farmer partnerships. The round positions Sayurbox to tackle Indonesia's fragmented logistics and diverse consumer behaviors, building a proprietary supply chain comparable to global leaders. It addresses a $120 billion market while reducing 50% harvest loss through digital efficiencies.
Apr 2021Series BAstra International (lead); Global Brain Corporation; Ondine Capital; Astra Digital$15MSayurbox is an Indonesia-based B2C and B2B e-grocery startup connecting consumers with fresh produce from local farmers through a tech-enabled supply chain. The company raised $15 million in its Series B funding round in April 2021, led by PT Astra International Tbk through its subsidiary Astra Digital International, with participation from Global Brain Corporation, Ondine Capital, and others. This followed a Series A round of $5 million in May 2020 and seed funding. The Series B funding supported Sayurbox's expansion from the Greater Jakarta area to cities like Surabaya and Bali, product range growth, and development of micro-fulfillment hubs for its quick commerce service SayurKilat. Astra International, one of Indonesia's largest conglomerates with interests in automotive, financial services, and agribusiness, backed the round to promote sustainable farming and improve livelihoods in Indonesia's agricultural sector.
May 2020Series AOndine Capital$5M-
Jul 2019Seed-$700K-

Who has invested in Sayurbox?

9 investors have backed Sayurbox across its funding rounds, including Ondine Capital, Global Brain Corporation, Astra International, International Finance Corporation, Alpha JWC Ventures and Syngenta Ventures.

Lead investors include Alpha JWC Ventures, Northstar Group and Astra International.


Sayurbox Investors

Investors in Sayurbox by funding rounds participated
InvestorHQRoundsRoleFirst check
Ondine CapitalSingaporeSingapore3ParticipantMay 2020
Global Brain CorporationJapanTokyo2ParticipantApr 2021
Astra InternationalIndonesiaIndonesia2LeadApr 2021
Syngenta VenturesSwitzerlandBasel1ParticipantMar 2022
BRI VenturesIndonesiaJakarta1ParticipantMar 2022
Alpha JWC VenturesIndonesiaJakarta1LeadMar 2022
Northstar GroupSingaporeSingapore1LeadMar 2022

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Sayurbox Competitors

Sayurbox competitors include listed companies like Dingdong (Cayman), Alibaba Group, Carvana and Shein, and private ones like Hungryroot and Kavak.

Public and private companies comparable to Sayurbox
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
HungryrootUnited StatesNew York City, NYPrivate$175M-$750M4.3x
Dingdong (Cayman)ChinaChinaPublicly listed$3.6B$34M$485M0.1x
Alibaba GroupChinaChinaPublicly listed$153B$15B$266B1.6x
CarvanaUnited StatesUnited StatesPublicly listed$20B($110M)$72B2.9x
SheinChinaChinaPublicly listed$42B$2.3B$21B-
KavakMexicoMexico CityPrivate$750M-$8.7B11.6x

Sayurbox Public Comps

Sayurbox is still privately-owned, but its public comps include Amazon, Tencent, Alibaba Group, Pinduoduo, MercadoLibre, Carvana, Sea, JD.com, Coupang and LY Corporation.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Amazon$717B$161B3.9x3.5x17.5x13.8x
Tencent$112B$51B4.5x4.2x9.9x9.9x
Alibaba Group$153B$15B1.7x1.6x17.5x13.0x
Pinduoduo$64B$14B0.7x0.7x3.1x2.8x
MercadoLibre$29B$3.7B3.5x2.6x27.2x25.1x
Carvana$20B($110M)3.7x2.9x(691.4x)27.7x
Sea$23B$2.4B2.5x2.0x24.3x16.5x
JD.com$195B$4.3B0.1x0.1x6.7x6.7x

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Common questions about Sayurbox

When was Sayurbox founded?Sayurbox was founded in 2016.
Where is Sayurbox headquartered?Sayurbox is headquartered in Jakarta, Indonesia.
Is Sayurbox publicly listed?No, Sayurbox is a private, VC-backed company.
How much funding has Sayurbox raised?Sayurbox has raised $139M across 4 funding rounds.
What was Sayurbox's last funding round?Sayurbox's last funding round was a $119M Series C in March 2022, led by Alpha JWC Ventures and Northstar Group.
Who are Sayurbox's investors?Sayurbox's investors include Ondine Capital, Global Brain Corporation, Astra International, Syngenta Ventures, BRI Ventures, Alpha JWC Ventures, Northstar Group, Astra Digital and International Finance Corporation.
Which companies are comparable to Sayurbox?Companies comparable to Sayurbox include Hungryroot, Dingdong (Cayman), Alibaba Group, Carvana, Shein and Kavak.

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