New Funding Pocket, TheLorry Logistics Platform Ready to Reach More Cities in Indonesia

Malaysian logistics platform TheLorry has successfully secured Series B funding with an investment value of $5,85 million (83 billion Rupiah). With this fresh injection of funds, TheLorry will strengthen their operations in Malaysia, Singapore, Thailand and Indonesia.

This time the funding was led by FirstFloor Capital and followed by PNB-INSPiRE Ethical Fund I, Cradle Seed Ventures, Axiata Digital Innovation Fund, and SPH Ventures. The latter was also involved in the previous series' funding rounds.

"There are many value in a trucking and truck driving career that many have yet to see and appreciate. We want to be agents of change in elevating the status and income of truck and truck drivers in this region [Southeast Asia]," said Executive Director TheLorry Nadhir Ashafiq as quoted by Antara. quoted from e27.

TheLorry was first introduced in 2014 and entered Indonesia in 2018. So far, TheLorry Indonesia has collaborated with several partners to provide logistics services, some of TheLorry Indonesia's partners include Shopee, Ninja Express, Asmaraku, and others.

The Lorry Indonesia Head of Business Development Rendi Ferdiansyah to DailySocial said, currently they already have 1.000 registered fleet partners in Indonesia. This number will continue to grow in line with TheLorry's plan to be present in more cities in Indonesia.

"TheLorry Indonesia has been present since last June 2018, even now it has provided services in five major cities in Indonesia, namely Jabodetabek, Bandung, Yogyakarta, Surabaya and Bali. We will use this latest funding to increase brand awareness We are all Indonesian people as well as plans for expansion in other big cities on the island of Java," said Rendi when asked about TheLorry Indonesia's next plan after funding.

Rendi further explained, before determining the next city for its business expansion, TheLorry Indonesia will first conduct research in big cities that have high logistics needs.