Waresix Logistics Technology Startup Raises Funding of IDR 1.48 Billion
The logistics technology platform, Waresix, announces the closure of the Series B funding round. After this funding stage, the total funding that Waresix has raised since last year has reached around USD100 million.
This funding was achieved by existing investors such as EV Growth and Jungle Venture as well as from new investors such as SoftBank Ventures Asia, the EMTEK group, Pavilion Capital and Redbadge Pacific.
Waresix is a technology platform for logistics in Indonesia, in the trucking and warehousing segments. Waresix now serves more than 250 well-known corporations from various business fields including commodities, FMCG, industrial equipment, infrastructure and retail. Several companies that use Waresix services are Unilever, Indofood, Siam Cement Group, Wings, and JD.ID.
Waresix solutions include consolidation, back-haul optimization, and hub-and-spoke distribution — providing a truck utility rate 50 percent higher than traditional delivery systems. Waresix’s logistics ecosystem continues to grow so that it now consists of more than 40,000 trucks and 375 warehouses spread across around 100 cities across Indonesia.
In addition, the company has also integrated its services with several key logistics facilities such as the Indonesia National Port. This integration is very beneficial for the expansion of the company’s services to reach all major islands in the country.
Waresix Services Cover All Major Islands in Indonesia
This integration expands Waresix services, which previously only covered Java and Sumatra, now it has reached all major islands in the country. Waresix develops a single (unified) logistics platform that works like an operating system for its partners.
The single platform was built to improve the day-to-day operations of customers and vendors, as well as providing a window for monitoring consignments across all transportation routes and warehouse transit. The Waresix platform differs from the logistics platforms of other companies in that it focuses on building passive load boards and lists matching demand and supply.
Waresix not only displays a demand for service providers but is focused on providing solutions to the core logistical problems faced by users. As a result, it is able to create long-term solutions to the core problems faced by its customers and service providers.
In the midst of the Covid-19 crisis, Waresix continues to record impressive performance. Waresix’s first-mile and mid-mile services are growing rapidly in line with the company’s efforts to support the efficient distribution of staple goods and to support the lives of truck drivers throughout Indonesia.
Logistics Problems in Indonesia are both a Challenge and an Opportunity for the e-Trucking Sector
Waresix considers that logistical problems – as one of the main obstacles to accelerating Indonesia’s economic growth – are actually a challenge as well as a great opportunity for the e-trucking sector.
The sector’s potential is getting bigger in line with the government’s investment to build infrastructure. Armed with technological capabilities and a customer-first mindset, Waresix is well-positioned to boost efficiency in Indonesia’s complex logistics ecosystem.
The CEO Andree Susanto said that his party is very pleased to welcome the long-term commitment from quality partners and investors to support Waresix on its journey to become a new engine of industrial and trade growth in Indonesia.
“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 seize bigger market opportunities,” he explained in a press release, Thursday (10/9).
Meanwhile, CFO of Waresix Edwin Wibowo revealed that for his party, technology is not everything. They want to find solutions to real problems in the field, by bringing new innovations using technology.
“In the last 2 years, we have proven this. It makes clients love Waresix so that our business continues to grow to this day,” he explained.