B2B Startup Manuva Secures $3 Million from Tin Men Capital
By: Asia Business Outlook Team | Monday, 11 September 2023
Tin Men Capital, a Singapore-based venture capital firm focused on Southeast Asian B2B tech startups, has invested $3 million in Manuva, an Indonesian managed marketplace that assists consumer brands and other trade buyers procure packaging from SME manufacturers with greater efficiency, scale, and quality control.
According to a statement issued on September 11, Manuva also provides modern digitisation tools that enable ecosystem players to dramatically improve their logistics, procurement, inventory, and sales processes.
Tin Men Capital is led by Co-Founders Jeremy Tan and Murli Ravi, and Manuva is the second investment from Fund II, which was launched in the third quarter of 2022. Tan is a seasoned investor who has held senior executive positions at global multinational corporations such as Trafigura Group, Thomas H Lee Partners, Morgan Stanley, and Puma Energy. Murli Ravi has previously taught entrepreneurship to undergraduates at NUS Business School and held investment roles at Temasek Holdings and JAFCO Asia. He is currently the Honorary Entrepreneur-in-Residence at INSEAD, guiding MBA and Executive MBA students.
As a result, in addition to capital investment, Tin Men Capital has been collaborating with Manuva to provide strategic advice and to create opportunities to support Manuva's growth and expansion.
“We are honoured and proud to have the opportunity to have Tin Men Capital on our team as we strive to develop more B2B solutions for the packaging manufacturing supply chain and grow the company further.” commented Anggara Pranaspati, Founder of Manuva.