Waresix Receives 24 Billion Rupiah Funding from East Ventures and Monk's Hill Ventures

On-demand (SaaS) warehouse service startup Waresix announced that it has received Pre-Series A funding of $1,6 million or worth 24 billion rupiah. The funding this time was led by East Ventures and Monk's Hill Ventures. SMDV and Triputra Group are also involved. Previously Waresix obtained early stage funds February 2018 ago. With this funding, Waresix seeks to increase warehouse efficiency through technology and data solutions, expand business offerings, and recruit new talent.

Waresix was founded in September 2017 by working on the market for providing warehouse services and connecting businesses and individuals who need space and Waresix warehouse operators have grown significantly.

The startup, led by Andree Susanto (CEO), Filbert (CTO), and Edwin (CFO), provides cross-border warehousing services for overseas customers who want to distribute their products in Indonesia and also manage their customers' urgent needs. The Waresix platform was developed to manage warehouse distribution, inventory, customer orders and billing cycles.

"We are very pleased to be working with these new investors. We believe they will encourage us to continue to grow and be able to provide great assistance in the expansion of our business," said Andree.

Edwin said the same thing. He revealed that Waresix is ​​very pleased with the full support provided by investors and welcomes new investors with open arms.

"The entire Waresix team is very pleased with the full support that is always given by early investors and welcomes new investors with open arms," ​​added Edwin.

Waresix services currently cover 26 cities, including Jabodetabek, Semarang, Surabaya, Balikpapan, Samarinda, Banjarmasin, Makassar, Pekanbaru and several other cities. Waresix also has 75 professional warehouse operators who handle general cargo, retail fulfillment and cold food warehouses.

Managing Partner of East Ventures Willson Cuaca said that Waresix was able to solve the problems of the warehousing industry by helping business operators to find suitable warehouses in various cities in Indonesia and also helping warehouse owners to maximize their assets.

"The past seven months have convinced us that this team has the ability to win the market and we can't wait to see the many national breakthroughs that Waresix is ​​pushing," said Willson.

The same thing was conveyed by Monk's Hill Ventures. Not only were they impressed by what Waresix did, they were also impressed by the founder and the vision that had been carried out so far.

"We are very impressed with the founders of Waresiz and their vision. Logistics is a rapidly growing sector and continues to be driven by technological change, both on the demand and learning side. The combination of in-country expertise and Waresix' technological know-how places them in a strong position. We It's a pleasure to work with the founders and co-investors on this journey," said Kuo-Yi Lim, managing partner of Monk's Hill Ventures.