INSUBCONTINENT EXCLUSIVE:
It closed a seed round in early 2018.Waresix is aiming to digitize logistics, the business of moving goods from A to B, which it believes is
The archipelago officially has more than 17,000 islands, but there are five main ones
on optimizing logistics by making the process more transparent for clients and more efficient for haulage companies and truckers
transportation by land or sea, as well as cold storage and general cargo handling.As of today, Waresix claims a fleet of more than 20,000
trucks and over 200 warehouse partners across Indonesia
The company said it plans to use this new capital to expand that coverage further
consistent with East Ventures, the long-standing early-stage VC, which has backed a pack of young companies aiming to inject internet smarts
into traditional industries in Indonesia
Some of that portfolio includes Warung Pintar, which develops smart street vendor kiosks, Kedai Sayur, which is digitizing street
EV Growth, which reached a final close of $200 million thanks to LPs that include SoftBank, East Ventures has the firepower to write larger
checks that go beyond seed and pre-Series A deals, as it has done with Waresix.But the company is far from alone in going after the
logistics opportunity in Indonesia
others, and Ritase.Ritase, which claims to be profitable, closed an $8.5 million Series A this week
It said it has 7,500 trucks and, on the client side, some 500 SMEs and a smattering of well-known global brands
Kargo has kept its metrics quiet, but it is a later arrival on the scene
The startup only came out of stealth in March of this year when it announced a $7.6 million funding round.
