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Wednesday, May 22, 2024

Indonesian startup Mimin raises seed funding to boost e-commerce efficiency


Indonesian startup Mimin has secured seed funding from Otto Digital, a subsidiary of conglomerate Salim Group, to expand its chat commerce solutions and virtual assistant services for micro, small, and medium enterprises (MSMEs) in the country.

Otto Digital’s extensive MSME community and networks in Indonesia make it an ideal partner for Mimin, according to the announcement.

The funds will be used to develop new products and features for MSMEs and online sellers, strengthen Mimin’s technology infrastructure, and improve its order management software. This aligns with Indonesia’s growing social commerce sector, projected to increase by 17.9% annually from 2022 to 2028.

A 2022 Populix survey revealed that 86% of Indonesians have shopped via social media and chat apps. Mimin’s platform aims to streamline this process, allowing businesses to process orders 70% faster and more accurately. By automating chat commerce and providing an order management platform, Mimin simplifies transaction management for sellers and generates relevant insights for business growth.

Currently, Mimin serves MSMEs across 20 provinces and 55 cities in Indonesia, with a focus on homemade food and beverage, fashion, and daily necessities sectors. The company collaborates with local governments to provide training and mentoring for local MSME communities, attracting 10,000 businesses to its platform.

Mimin also offers a service called Mimin Pro for larger retail companies, enabling them to process chat orders and delegate fulfillment to the nearest branch. This service has benefited brands like Hero Supermarket, Bumame Pharmacy, and LotteMart by reducing shipping costs for buyers and increasing company revenue.

“Based on our findings in the field, many buyers and sellers prefer conversational transactions, such as those conducted via WhatsApp or Instagram DMs. Mimin aims to assist online sellers by automating order processing, which saves time and effort, as well as enhances business growth. We also offer relevant insights to help businesses innovate based on processed transactions, so that they can innovate based on this valuable business acumen,” said Joseph Simbar, Chief Executive Officer of Mimin.

Otto Digital’s CEO, Reginald Hamdani, believes Mimin’s solutions align with their vision of empowering communities and expanding economic growth to rural areas. He notes that the startup’s founders, Joseph Simbar (CEO) and Bayu Eka Putra (COO), possess bold visions and solid commitments, making them well-positioned to support Mimin’s development.


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