Indonesia's Alibaba? Meet Ralali. They're a B2B marketplace that connects suppliers to SMEs. After being hit during the pandemic, they've hustled and just raised a Series D tranche.

Who cashed in? While the amount's hush-hush, the round was led by Bee Accelerate and SBI Group. ICMG Partners, Beenos Asia and Arbor Ventures also joined in.

• Ralali is estimated to have raised $11M last month, bringing them to a $168M valuation.
• We hear they're looking to raise $50M.

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👀 What's the biz?

While similar companies like Warung Pintar, GudangAda and Ula focus on mom-and-pop shops (aka, "warungs"), Ralali's more like Alibaba

• They've got suppliers across a wide range of categories, like agriculture, building materials, furniture and machinery.

Their subsidiaries also offer business financing and logistics solutions through their partners. Plus, they also have an e-commerce enabler, RBiz for offline brands that want to succeed online.

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💪🏼 Tough times, new ideas

Apart from acquiring East Ventures-backed healthy noodle brand, Fitmee, they've also launched:

Primero. They manufacture and sell generic goods like masks and gloves under this private label brand at 50,000 stores across Indonesia.

Ralali Agent. Earn extra income doing short-term online jobs like sales promotions and product surveys in your free time.

Ralali Connect. Get all the tools you need to sell online fast! Launch an online store, use their digital bookkeeping system and more.

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😉 When's the IPO?

They're pushing to hit profitability before they look to IPO in 2023. With the new $$$, they'll add new products to their private label brand, Primero, and launch new services.