Waresix closes US$100M Series B to grow its tech-enabled first-mile, mid-mile logistics services in Indonesia
Indonesian logistics-tech startup Waresix said today it has concluded its US$100 million Series B fundraise from existing investors EV Growth and Jungle Ventures, and new investors, including SoftBank Ventures Asia, EMTEK Group, Pavilion Capital and Redbadge Pacific.
This round comes just six months after the startup secured US$25.5 million in Series A round.
“The capital will be invested in developing the most robust logistics technology infrastructure in Southeast Asia, and further building out our world-class team which will help us in transforming a US$40-billion industry,” said CEO Andree Susanto said.
Founded by Susanto and Wibowo, both alumni of the University of California Berkeley, Waresix connects shippers and business with available warehouses and trucks across Indonesia. The firm aims to improve supply chain efficiency by improving utilisation and removing intermediaries.
It provides multi-modal services including land and marine transportation, general cargo handling, and cold storage to cater inter-island freight movement across Indonesia.
Waresix claims it serves more than 250 marquee corporate clients, such as Unilever, Indofood, Siam Cement Group, Wings, and JD.ID. Its logistics ecosystem spans over 40,000 trucks and 375 warehouses in more than 100 cities and towns across the archipelago.
The company has also integrated its services with key logistics facilities such as the Indonesia National Port, which has allowed Waresix to expand its reach beyond Java and Sumatra which is now across all of the nation’s main islands.