Waresix Successfully Collects 1,5 Trillion Rupiah Funds

Platform smart logistics Waresix today (09/9) announced the closing of its Series B funding round round The amount that has been collected is US$ 100 million or equivalent to 1,5 trillion Rupiah. Some of the investors involved include EV Growth, Jungle Venture, SoftBank Ventures Asia, EMTEK Group, Pavilion Capital, and Redbadge Pacific.

"This fresh capital will be invested in developing the most reliable logistics technology infrastructure in Southeast Asia and to continue strengthening Waresix's world-class team, to help us capture greater market opportunities," said Waresix Co-Founder & CEO Andree Susanto.

Earlier at the beginning of last year, the company announced additional series A pendanaan funding $25,5 million from EV Growth and Jungle Ventures. The series A funding itself has been announced since July 2019, posted a $14,5 million fund led by EV Growth with participation from SMDV and Jungle Ventures.

Waresix has two main services, namely logistics truck management and warehousing; debuted as marketplace that connects logistics truck fleet owners with businesses. Waresix now serves more than 250 companies from various business fields including commodities, FMCG, industrial equipment, infrastructure and retail. Its logistics ecosystem now consists of 40 trucks and 375 warehouses spread across 100 cities across Indonesia.

Basically, Waresix develops a single logistics platform that works like an operating system for its partners. The platform was built to improve the daily operations of customers and vendors, as well as provide a window to monitor cargo across transport lines and transit warehouses.

For the same business landscape, Waresix competes with several other local players. Two of them are Kargo Technologies and Webtrace. Regarding funding, Cargo Technology just announced the closing of its $31 million series A round in April 2020. Meanwhile, Webtrace recently announced the extension of its seed funding for an undisclosed amount.

Logistics business potential

Logistics is indeed becoming an attractive business vertical – whatever its form, whether one-day delivery to, between cities, to between islands. Its services are the spearhead of many digital businesses, especially E-commerce. In Southeast Asia itself, this business is seen in "tracks" good growth.

In Singapore there is Ninja Van, in their series D round they managed to book around $400 million, estimated to bring the company's valuation to $750 million. Since 2016 they have also operated a business in Indonesia.

Other players, such as AnterAja and SiCepat, also continue to strive for business expansion and growth. Finally, they are reported to have been invested by Tokopedia, in order to support the vision of developing "Infrastructure as a Services" for the retail business in Indonesia.

In previous review, DailySocial categorize several types of logistics services currently operating in Indonesia:

Waresix itself has been confirmed grab status centaur since last year, they have reached a valuation of over $100 million. With this new funding, mathematically there is a significant increase in valuation and it is not impossible that it will soon take the company to the next status: unicorn. The unique needs and challenges of the logistics business in Indonesia provide opportunities for players (especially local) to dominate the market.