# Packworks

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/packworks

- Industry: Software
- Headquarters: Makati City, Philippines
- Website: www.packworks.io
- Total disclosed funding: $3.8M
- Latest round: Seed (Feb 6, 2024)
- Investors on record: 3

## About

Based in Makati, Philippines, and founded in 2018 by Bing Tan (CEO), Hubert Yap (CPO), and Ibba Bernardo (CMO), Packworks is a business-to-business platform that digitalizes sari-sari stores in the Philippines and connects them by offering inventory, accounts, and data management services. The firm started out as a solution for multinational companies in the Philippines to connect with neighborhood stores. In July 2022, Packworks raised PHP 112 million in Seed funding co-led by CVC Capital Partners and Fast Logistics Group, with participation from ADB Ventures, Arise VC, IdeaSpace, and TechStars.

Packworks offers inventory management solutions for effective monitoring, bookkeeping, data analytics, accounting, purchase tracking, etc to local sari-sari stores. Additionally, the platform offers business intelligence to get summary reports and dashboards to track all expenses and purchases and identify opportunities or issues.

The company intends to use the July 2022 funds to develop its super app, called The Pack, by increasing its platform offerings, expanding its talent pool, and improving its user journey, as well as building a department that directly engages the sari-sari stores and provides additional services with partners.

## Funding rounds

- Seed, Feb 6, 2024, $2.1M — Asian Development Bank, IdeaSpace, MDI Ventures
- Seed, Sep 19, 2022, $1.6M — Asian Development Bank, IdeaSpace, MDI Ventures

## Investors

- Asian Development Bank — Seed
- IdeaSpace (https://capitalatlas.ai/funds/ideaspace) — Seed
- MDI Ventures (https://capitalatlas.ai/funds/mdi-ventures) — Seed