East Ventures Injects Initial 15,8 Billion Rupiah Funding for Luwjistik

Startups e-logistics Singapore-based "Luwjistik" secured a $1,1 million (approximately 15,8 billion Rupiah) seed funding led by East Ventures, with participation from Arise -- fund the result of the collaboration of MDI Ventures-Finch, and Global Founders Capital. The company will use the funds to develop its local and regional teams in Singapore, Indonesia and Malaysia; improve the platform while continuing to expand its reach.

Luwjistik is still a stick of corn, founded in July 2021 by logistics veterans and E-commerce, Syed Ali Ridha Madihid, and Wong Yingming. Its vision is to develop its clients' logistics infrastructure and regional reach instantly through direct access to global network partners. While enabling them to benefit from standardized workflows for transparency and convenience.

According to Co-founder & CEO Luwji studies Syed Ali Rida Madihid, this solution came because of an explosion E-commerce driven by the pandemic is putting increasing pressure on logistics companies to expand their operations. “Most people can't travel to build networks and relationships on the ground. Many people also rely on old processes, and are not able to build their technology capabilities fast enough to meet demand,” he said, Thursday (30/9).

Through the Luwjistik platform, clients can simply perform a single API integration to bridge themselves to the partner of choice, and follow the transaction to completion. A total of nearly 30 network partners in Singapore, Malaysia, Indonesia, the Philippines, and Thailand have been connected to Luwjistik. Some of them are Ninja Van, J&T Express, and JNE Express. The clients who have taken advantage of the Luwjistik platform include DHL eCommerce and YCH Group Pte Ltd.

Madihid said, there are three superior values ​​offered. First, in terms of smoothness, clients will have direct access to network partners throughout Southeast Asia which includes procedures for receiving imported goods and shipping at the nearest point, both domestically and regionally. They can choose the service provider that best suits their needs.

Second, in terms of standardization, where documentation, workflow, and cost transparency can allow clients to easily navigate cross-border movements. Finally, with the integration of a single API, it becomes fast and simple to use the platform, enabling fast data management, direct ordering, contract signing, document sharing, to payment processing, all happening within the platform.

According to Madihid, what they are doing here is combining the technology and knowledge that has been built up over years of working in the sector to connect the dots across the globe. supply chain leaders. Ultimately, it will help clients navigate across borders and face domestic challenges, especially in a rapidly growing, yet highly fragmented region.

"Ultimately, when the logistics sector needs to be scaled up and digitized to meet demand, Luwjistik provides fast, efficient and secure technology solutions, which will help them to grow," he concluded.

Enliven logistics sector funding

Before East Ventures announced its funding for Luwjistik, several weeks earlier it had also invested in startups e-logistics others, namely McEasy. This segment is very passionate in the midst of a pandemic because of its crucial role in supporting industry growth E-commerce.

From the beginning of 2019 to July 2021, the research team DailySocial.id noted that there were around 16 announced funding transactions involving technology-based logistics companies. This investment managed to record a total fund value of $586 million. There are at least 4 logistics startups that have a valuation above $100 million, namely SiCepat, Waresix, Shipper, and GudangAda.