Waresix hauls in $14.5M to advance its push to digitize logitics in Indonesia – TechCrunch

Waresix​, one of a handful of startups aiming to modernize logistics in Indonesia — the world’s fourth most populous country — has pulled in million to grow its 18-month-old business. This new investment, Waresix’s Series A, is led by EV Growth — the growth-stage…

Waresix hauls in .5M to advance its push to digitize logitics in Indonesia – TechCrunch

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This new investment, Waresix’s Series A, is led by EV Growth — the growth-stage fund co-run by East Ventures — with participation from SMDV — the investment arm of Indonesia corporation Sinar Mas — and Singapore’s Jungle Ventures .

Like others in its space worldwide — which include Chinese unicorn Manbang and BlackBuck in India — Waresix is focused on optimizing logistics by making the process more transparent for clients and more efficient for haulage companies and truckers.

Waresix​, one of a handful of startups aiming to modernize logistics in Indonesia — the world’s fourth most populous country — has pulled in $14. 5 million to grow its 18-month-old business.

That necessitates a lot of challenges for logistics, which are said to account for 25-30 percent of GDP — a figure that is typically below five percent in Western markets — while Indonesia barely scraped the top 50 rankings in World Bank’s Logistics Performance Index.

Now with EV Growth, which reached a final close of $200 million thanks to LPs that include SoftBank, the East Ventures has the firepower to write larger checks that go beyond seed and pre-Series A deals as it has done with Waresix.

That’s a push that founders Andree Susanto (CEO), Edwin Wibowo (CFO), and Filbert Hansel (CTO) — who met at UC Berkley in the U. S. — believe fits with Indonesia’s own $400 billion commitment to improve national infrastructure and transport.

It is also consistent with East Ventures, the long-standing early-stage VC, which has backed a pack of young companies aiming to inject internet smarts into traditional industries in Indonesia.

Waresix is aiming to digitize logistics, the business of moving goods from A to B, which it believes is worth a total of $240 billion in Indonesia.

Link to original article….

https://twitter.com/TechCrunch/status/1146974346625335298

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