Indonesian quick commerce firm Astro raises $60 million in Series B

Astro, a quick commerce firm based in Indonesia has raised $60 million in its Series B funding round led by Accel, Citus, and Tiger Global, with participation from AC Ventures, Global Founders Capital, Lightspeed, and Sequoia Capital India.

• The funds will help the firm in improving user acquisition, product development, and hiring of more talents to its current team of employees.
• The new funding brings the logistics firm to $90 million in total funds raised since it launched 9 months ago.
• Astro offers a 15-minute delivery within 2-3km using its distribution stores backed by a cash-intensive model that allows it to control inventory sourcing, supply chain, and mid-to-last-mile delivery.
• The firm claims it 10x its revenue in the last few months and recorded 1 million downloads of its app.