Waresix, an Indonesian logistics-tech startup announced that it has successfully finished closing a US$100 million Series B round of funding. The round of funding was secured from new investors who include SoftBank Ventures Asia, EMTEK Group, Pavilion Capital and Redbadge Pacific. Existing investors who reinvested in the company are EV Growth and Jungle Ventures.
Andree Susanto CEO of Waresix commenting on the round explained who the fresh funds will be utilized. He said, “The capital will be invested in developing the most robust logistics technology infrastructure in Southeast Asia, and further building out our world-class team which will help us in transforming a US$40-billion industry,” said CEO said.
The startup was founded by Susanto and Wibowo with the aim of connecting shippers and business with available warehouses and trucks across Indonesia. The firm eliminates intermediaries which enables it to be more efficient and effective.