East Ventures and Beenext Lead Biteship Initial Funding

East Ventures and Beenext are leading early-stage funding for startup Biteship with an undisclosed amount. Biteship is a logistics aggregator startup that focuses on simplifying the shipping process for MSMEs and companies, connecting businesses with all shipping services into one platform.

“We are delighted to partner with East Ventures and Beenext for this funding round. This investment will accelerate our mission to integrate better technology into the logistics solutions we present to serve our customers," said Biteship Co-founder and CEO Mirsa Sadikin in an official statement, Friday (10/6).

East Ventures Principal Devina Halim said, “We believe in Biteship's mission to provide better logistics solutions from the point of view of developer, which will lead to efficiency through the use of 3PL technology and network integration. We believe this investment will encourage Biteship to continue to improve its services in addressing the logistics gap in the market, having a direct impact on the growth of the trading industry in Indonesia.”

BEENEXT Managing Partner Dirk van Quaquebeke also added, “Biteship represents teams, themes and companies that are ready to compete, they are capital efficient and very likely to grow in a very large market. We have known the Biteship team for years, seen how they built the company and we are excited to be partners on their journey.”

Biteship Solution

Biteship was founded by Mirsa and Afra Sausan (CMO) since 2019. They both see a big technology gap between delivery service providers (shipping providers) and warehouse providers (warehouse providers) in the utilization of technology solutions for SMEs and companies in conducting trade.

Then with its innovation, Biteship simplifies complex delivery processes and empowers all stakeholders in the supply chain through a 4PL approach. Companies create APIs that connect and act as one pintu to access third party logistics (3PL) and warehouse providers to facilitate trading operations. The same solution is also offered by Shipper.

The cargo and logistics market in Indonesia was worth $81,3 billion in 2020 with 9,2% annual growth. This figure was driven by the growth of parcel delivery services during the pandemic. The huge potential and unresolved gaps have prompted Biteship to become a solution provider to connect more 3PLs to SMEs. Thus, they can provide a smoother sales experience to consumers.

Currently, Biteship has more than 30 3PLs in its network, provide instant service, same day delivery (same day service), next day delivery (next day service), regular services, and cargo services into its ecosystem. In addition, it has been connected to hundreds of businesses in Indonesia across various industries, including food & beverage, fashion, healthcare, and many others.

“We are proud to be the first platform to approach supply chain product development from a developer perspective. We believe that every intersection of the supply chain product development process should be carefully assembled for future improvement purposes. With better programming, we can deliver a better operation and experience for businesses and customers," said Mirsa.

Biteship claims to have recorded an eight-fold growth in the first quarter of 2022 on a global basis year-on-year and maintain profitability with competitive margins.

Mirsa said the fresh funds received by the company will be allocated to develop teams, from the sales, marketing, operations, product, and engineering teams to ensure better operational excellence and increase platform adoption. Also, expanding technology capabilities, enabling deeper integration with partners across Indonesia, and at the same time continuing to strengthen solutions E-commerce logistics.