1. Startups

Waresix Reportedly Received Additional Series B Funding of 718 Billion Rupiah

Tiger Global, Temasek, East Ventures participated in this round; it is projected that Waresix's valuation has reached $420 million

Logistics startup Waresix reportedly received additional funding for the series B round. A number of investors included Tiger Global, Temasek, and East Ventures. According to data that has been submitted to the regulator, the range of funds obtained reached $50 million or the equivalent of 718,4 billion Rupiah.

This achievement catapulted the company's valuation at $420 million, bringing Waresix as one of the most valuable logistics technology platform providers in Indonesia. Previously they booked $100 million series B funding from a number of investors, including East Ventures, Jungle Ventures, SoftBank Ventures Asia, EMTEK, Pavilion Capital, and Redbadge Pacific. Less than a year later, MDI Ventures also entered the series B funding.

Currently, Waresix provides logistics technology for two main solutions, namely related to transportation management and warehouse. In the transportation sector, they developed a Transportation Management System platform, making it easier for businesses to manage delivery assignments, monitoring real-time, driver administration, to reporting.

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