Country for PR: Hong Kong
Contributor: PR Newswire Asia (Hong Kong)
Thursday, September 10 2020 - 14:48
Indonesian Logistics Tech Startup Waresix Closes c.US$100 Million Fundraising
JAKARTA, Indonesia, Sept. 10, 2020 /PRNewswire-AsiaNet/ --


-Waresix seeks to digitally transform the US$55 billion Indonesian trucking and 
warehousing sector. 
-Amid the COVID-19 pandemic, Waresix has scaled up rapidly to support the 
distribution of essential goods to over 100 cities across Indonesia and to 
provide logistics services to primary sectors. 
-As the world's largest archipelago, distribution of goods is a major pain 
point in Indonesia. Waresix offers unique solutions to address distribution 
challenges, in line with the government's aim to reduce the country's logistics 
costs to 19% of GDP.

Waresix, Indonesia's leading logistics tech platform, today announced that it 
has concluded its Series B fundraising, and over the last year raised c.US$100 
million from existing investors EV Growth and Jungle Ventures, and new 
investors, including SoftBank Ventures Asia, EMTEK Group, Pavilion Capital and 
Redbadge Pacific.


Waresix is the leading logistics tech platform in Indonesia in the trucking and 
warehousing segments. Trucking services, which form the majority of Waresix's 
business, is focused on first-mile and mid-mile intercity shipments. Waresix's 
deep operational involvement as a provider of managed services enables it to 
identify key value and efficiency-generating solutions for its clients beyond 
passive demand and supply matching. Waresix's solutions, including 
consolidation, back-haul optimization and hub-and-spoke distribution, can 
achieve 50% higher truck utilization than traditional shippers, and have 
contributed towards Waresix rapid scaling, while generating positive net 
income. Waresix has been profitable on a net income basis since June 2019.

Waresix now serves more than 250 marquee corporate clients from diverse 
industries, including clients within the commodities, fast-moving consumer 
goods, industrial consumables, infrastructure, and retail sectors. Notable 
customers include Unilever, Indofood, Siam Cement Group, Wings, JD.ID and 
numerous other MNCs. Waresix's logistics ecosystem spans over 40,000 trucks and 
375 warehouses in more than 100 cities and towns across Indonesia. Waresix's 
integration with key logistics facilities, such as Indonesia's National Ports, 
has allowed the company to expand its reach beyond Java and Sumatra, to all of 
Indonesia's main islands.


Waresix has been developing a unified operating system-like platform for its 
partners, with the goal of improving partners' daily operations pertaining to 
their vendors and customers. The platform further provides a compact, single 
view of partners' consignments across transport channels and transit 
warehouses. Waresix's platform distinguishes itself from other logistics 
companies that primarily focus on building passive load-board and listings, to 
match supply and demand. Waresix continues to tackle core logistical challenges 
by going beyond matching supply with demand through cultivating a 
managed-service ecosystem. This has positioned Waresix to address challenges 
and generate enduring solutions faced by its demand and supply partners.

Despite disruptions brought in by the COVID-19 pandemic, the company has 
continued to achieve remarkable results, with rapid growth in its first-mile 
and mid-mile trucking services while supporting the efficient flow of essential 
goods and the livelihoods of thousands of truck drivers across the country.

At its core, Waresix believes that logistics, being a major bottleneck in the 
fast-growing Indonesian economy, provides ample opportunity for innovation 
within the e-trucking sector. Furthermore, the Indonesian government continues 
to invest in the country's physical infrastructure, which serves as further 
sector catalysts. With technology and a customer-first mindset deeply embedded 
in Waresix's DNA, Waresix is well-placed to propel efficiency within 
Indonesia's complex logistics ecosystem.

Andree Susanto, CEO of Waresix, said, "We are excited to on-board a group of 
high-quality long-term investors and partners that have committed to support 
Waresix in our journey to be the new engine for trade and commerce growth in 
Indonesia. The capital will be invested to develop the most robust logistics 
technology infrastructure in South East Asia, and further build out our 
world-class team to help us seize a large market opportunity."

Edwin Wibowo, CFO of Waresix said, "We are not just driven by technology, but 
also driven by a passion to solve real problems, and innovating via technology. 
We have proven this in the last two years, which is why our clients love us and 
our business has continued to scale until today."

About Waresix

Waresix is a tech-enabled platform offering logistics services and solutions to 
customers in a more efficient and economic manner. It connects shippers and 
businesses with available transporters, trucks and warehouse space across 
Indonesia, providing better transparency, quality of service, and improving 
income for asset owners. Its expansive ecosystem now reaches over 40,000 trucks 
and 375 warehouse operators across the archipelago.

The archipelagic makeup of Indonesia has resulted in one of the highest 
logistics costs in Asia, accounting for nearly a quarter of the country's US$1 
trillion gross domestic product (GDP). This high logistics cost not only 
hampers Indonesia's industrial competitiveness but also adds to Indonesian 
SME's cost of doing business. Waresix seeks to address challenges and generate 
enduring solutions for its supply and demand partners in the US$240 billion 
Indonesian logistics market.

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   Caption: Waresix Team at Waresix Office


   Caption: Waresix Truck