Paxel Confirms Series B Funding, Led by MDI Ventures

Logistics startup Paxel confirmed the acquisition of series B funding. Based on the information we gathered, this funding was led by MDI Ventures, followed by the participation of Susquehanna International Group (SIG), PT Luminary Media Nusantara, Bamboo Gold Services, and Galilee Capital Ventures. Funds disbursed by MDI include: Centauri Fund.

From the data inputted to the regulator, so far this round has recorded a nominal investment of $9,4 million or the equivalent of 134,7 billion Rupiah.

"That's right [received series B funding]. This funding will later be used for the expansion of our logistics network this year," said Paxel Co-founder Zaldy Ilham Masita when contacted by DailySocial.id.

Paxel last received series A pendanaan funding of $10 million led by Paxel Co-founder Johari Zein, as well as involvement from East Ventures, Sinar Mas Digital Ventures (SMDV), and SIG.

Expansion plan

Furthermore, said Zaldy, this funding will be used to strengthen the IT system in line with efforts to expand service coverage instant delivery with two giants ride-hailing, Gojek and Grab. With Gojek, Paxel has launched collaborative services This past year via GoSend Intercity Delivery from Jadetabek to Bandung and vice versa. The coverage will continue to be increased.

"Meanwhile with Grab, we work together for services multidrop (more than one delivery point) with Grab. This collaboration has been running since two months ago. "The initial stage is only available in Jabodetabek," added Zaldy.

Finally, Paxel also plans to launch a new service, Paxel Recycle, which makes it possible driver Paxel picks up rubbish from the house and delivers it to the rubbish bank once a week. Paxel took part Waste4Change to pick up special e-commerce packaging waste, such as cardboard, bubble wrap, to plastic bottles from customers' homes.

Others, Paxel will also release features emergency delivery which allows the delivery of medicines or medical devices to patients infected with Covid-19.

In the last two years, Paxel has indeed accelerated its service expansion cold chain last mile and instant delivery in line with the increase in delivery volume which reached 86%. Moreover, Paxel's position is well known to MSME business actors who use instant couriers to send food and drinks to buyers. Then, in 2020, Paxel collaborated with Blue Bird to launch PaxelBig, a service with a delivery capacity of 5-20 kg.

Zaldy previously estimated shifting behavior society from offline to online shopping will become increasingly stronger. Apart from the Covid-19 pandemic, another trigger is the increasing expectations of customers who want faster product delivery.

He said it was deep interview with DailySocial last year, new innovations were needed to be able to meet customer expectations in the future. He even rates the service same delivery with a duration of 8-10 hours, it will be difficult to compete considering that similar services in the city can be provided in just two hours.

Currently, Paxel services serve 30 cities, including in Sumatra, namely Palembang, Medan, and followed by Lampung.