'Warung tech may become attractive as VCs now prefer execution over innovation'

'Warung tech may become attractive as VCs now prefer execution over innovation'

(L to R): Visa Kannan, partner, Saison Capital; Smita Aggarwal, Global Investments Advisor, Flourish Ventures; and Arvind Sankaran, founder, Imaginarium Advisors at a panel on “The future of warung/kirana tech in India and SE Asia” on Sept. 28 during DealStreetAsia’s PE-VC Summit 2022.

Neighbourhood stores are as ubiquitous as tuk-tuks in Asia. Indonesia, for instance, is home to 3.5 million warungs, while India houses 13 million kirana stores, which sell items from groceries, toiletries, and cosmetics to snacks and cigarettes.