In January 2020, business-to-business (B2B) FMCG marketplace Dropee became only the second Malaysian startup to be accepted into the prestigious Silicon Valley startup accelerator Y Combinator. The experience culminated in Dropee pitching—even if only virtually due to Covid-19—and closing a US$1.3 million extended seed round in July. Y Combinator, existing investor Vynn Capital, and others took part.
The Y Combinator validation is a sign of the momentum the startup has built. Dropee aims to tackle a prickly challenge: digitising the supply chain between traditional retailers and the wholesale industry. Currently, Dropee works with over 25,000 retailers and 3,000 suppliers, with over 60,000 SKUs (stock keeping units) on its marketplace.