10 Globally Largest Series A Funded Retail Tech Startups, 2 from Indonesia

Two Indonesian startups, AgriAku and Gokomodo, are among the companies with the largest Series A funding globally in the retail tech sector, according to CB Insight's State of Retail Tech Q3 2022 report.

Agritech company AgriAku secured US$35 million (approximately Rp520 billion) in Series A funding, placing it third, led by Alpha JWC Ventures.

Supply chain company Gokomodo received a total of US$26 million in funding from several investors, including East Ventures, Eight Capital, and Indogen Capital.

DeepWay, a Chinese smart trucking company with the latest energy technology, secured the largest Series A funding in Q3 2022, raising US$67 million. Singaporean startup graas took second place with US$40 million.

The report indicates a 33% global decrease in retail tech startup funding in Q3 2022, falling to US$8.5 billion from US$12.7 billion in the previous quarter. This is the steepest decline in the last five years.

Year-to-date (YTD) funding for retail tech startups reached US$44.8 billion by Q3 2022. CB Insight projects a 45% drop in global retail tech startup funding in 2022, to US$59.7 billion.

In 2021, total global retail tech funding reached US$108.4 billion, the highest in five years. Prior to that, during the COVID-19 pandemic in 2020, global retail tech funding totaled US$46.7 billion.