Herbal products marketplace Gogobli launches in Indonesia, raises pre-Series A round

Anisa Menur
Gogobli launch event

Backed with a “million US dollar” investment led by OSKVI, Gogobli aims to connect customers, retailers, and producers in one platform

Left to right: Patrick Yee (COO of OSKVI), Chan Kok Long (co-founder of iPay88), Halim H. (founder of Gogobli), Joyce Lim (CEO of Gogobli), Joe Hansen (COO of Gogobli), and Terry Koh (CBDO of Gogobli)

Indonesian online marketplace for herbal health and cosmetic products Gogobli is officially launched in South Jakarta today.

The marketplace is a B2C and B2B online marketplace for various Chinese and traditional Indonesian herbal products (“jamu”).

Available as a desktop site (for B2C customers) and mobile app (for B2B customers), it connects customers to retailers and producers of products such as vitamins and supplements, cosmetics, and herbal medicine.

Gogobli offers different pricing range for B2C and B2B users, with the B2B user being smaller pharmacies looking to stock up their supplies.

“We are not here to fight against [conventional] business, we are here to be a solution for a better business,” said Gogobli Founder Halim H. during the press conference.

The startup aims to help small and medium enterprises (SMEs) to have a “more equal opportunity” to distribute their products to remote areas in Indonesia by using their platform.

“We also implement the ‘uberisation’ concept where users from Manado no longer need to buy vitamins from Jakarta. [When they ordered in our platform] the product will be send from a retailer located the closest to the user,” Halim explained.

Also Read: 8 Singapore startups raised funds this quarter, with healthcare taking the spotlight

Talking business

 

The Jakarta-based startup is backed with a “million US dollar” pre-Series A investment led by OSK Ventures International Bhd (OSKVI), with participation of iPay88 co-founder Chan Kok Long.

Gogobli marks the Malaysia-based private equity firm’s first investment in the Indonesian market, and the investment brought the startup’s valuation to US$30 million.

The startup aims to double and triple its sales and transaction with the new investment, as well as to develop its system.

It is preparing to raise its Series A, and is looking to raise between US$50 million to US$100 million by end of year.

According to the company, during a beta testing period held between May 2016 and February 2017, Gogobli has recorded “promising” results with its mobile app being downloaded by 11,500 retailers in Java alone.

The startup also claimed to record 600 per cent rise in B2C transaction and 990 per cent rise in B2B transaction.

It has also seen significant demand from rural Indonesian areas such as Batang (Central Java) and Plered (West Java).

Also Read: PulseTalk keeps you healthy through Traditional Chinese Medicines

Journey to the top

 

Gogobli was founded in North Jakarta by Halim H. in May 2016.

Prior to founding Gogobli, Halim has had 20 years experience in health and beauty industry by founding PT Biomed, a health and supplement product distributor. He is still actively involved in the company’s sales and marketing efforts.

“I keep on conducting research, trying to find the right formula in the past six years. Until I finally found a platform that can be the solution [for existing problems in the industry],” he said.

Gogobli partners with 200 herbal health and cosmetic brands. It currently works with 11,500 herbal stores in Indonesia and aims to get on-board 100,000 retailers by 2019.

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