IFC Invests 451 Billion Rupiah in AnterAja Parent

PT Adi Sarana Armada (IDX: ASSA), or parent logistics platform AnterAja, received funding from the International Finance Corporation (IFC). Its value reaches $31 million or around 451 billion Rupiah. Previously, the consortium under the World Bank also invested in startup insurtech PasarPolis earlier this year.

Investment is obtained through the purchase of convertible bonds (convertible bonds), namely debt securities that can be exchanged into shares at an agreed ratio. In this case, the bonds will be listed on the stock market for two years without interest -- issued through rights issue by ASSA.

One of the main focuses of this post-funding company is to improve its logistics business and transportation network connectivity. AnterAja is also in-mention in particular, because it is hoped that its development will provide benefits for MSMEs in the midst of rapid business growth E-commerce in Indonesia.

AnterAja was introduced by ASSA Rent in February 2019, as a business unit in the logistics sector last mile. His own business unit has been established since August 2018 in j with logistics service from China SF Express and PT Spirit of Bambu Runcing whose shares are owned by William Tanuwijaya.

At that time, it was stated that ASSA became the majority shareholder of 55%, SF Express 20%, and Spirit of Bambu Runcing 25%.

Focus on serving the sector E-commerce, AnterAja has several logistics options, ranging from same day delivery, next day delivery, and regular. It is said, they already have about 15 thousand couriers and are able to send about 700 thousand packages per day.

ASSA itself is part of the Triputra Group conglomerate. Under him, he oversees 10 companies related to rental of automotive assets and logistics. Besides AnterAja, businesses that are close to digital are the car rental platform ASSA Mobility (ShareFleet for B2B and ShareCar for B2C) and marketplace Caroline's car.

Then for the Triputra Group itself, they were involved in the pre-series A Waresix funding in 2018. The company also invested in Vegetable Shop in the following year. The rounds for the two startups were led by East Ventures.

Logistics business investment

With the same hypothesis, investors also continue to flock to add to their portfolio list from the logistics business. The flow of funding for this startup has also increased consistently from year to year – including in the midst of economic uncertainty due to the pandemic.

From 2019 to the first half of 2021, there have been 16 funding rounds involving startups in the logistics sector. Of the 13 rounds of information citing their value, the total equity investment totaled $455 million. The trend is increasing in terms of funding quality from year to year.

The types of logistics services provided are also quite diverse, ranging from: first mile, last mile, fleet management,  , and others. Some players even focus on shipping at a certain level, for example covering import-export needs by providing access to a fleet of ships or aircraft cargo.