Investment Firm Kresna, Retail Operator Supra Boga Join Hands for Tech Startup
Jakarta. Publicly listed investment firm Kresna Graha Investama and retail operator Supra Boga Lestari plan to launch an e-commerce site in the third quarter of 2016, the company said in a statement.
"We see how the e-commerce market in Indonesia, especially in the daily groceries sector, is growing well because it is supported by the vast growth in Internet and smartphone users," Supra Boga Lestari chief executive Meshvara said.
The two companies formed a joint venture known as Supra Kreatif Mandiri, which will develop the KeSupermarket.com e-commerce site. The site will serve as an online shopping platform that offers daily necessities such as groceries, fresh produce, homecare products and general merchandising.
The company will also offer digital payment methods and a delivery service.
Kresna Graha Investama – which is also an integrated digital technology company – will provide the e-wallet facility on the site that is run by its subsidiary, Digital Artha Media.
"We are currently performing an integration. We will present these features at the launch ceremony in the third quarter of this year," Meshvara said.
Kresna Graha Investama previously stated that the company earmarked up to Rp 1 trillion ($75 million) to acquire technology startups this year as part of the strategy to break into Indonesia's e-commerce industry.
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