Indonesian logistics startup SiCepat raises $170 million Collection B – TechCrunch

SiCepat, an end-to-end logistics startup in Indonesia, introduced as we speak it has raised a $170 million Collection B funding spherical. Based in 2014 to offer last-mile deliveries for small retailers, the corporate has since expanded to serve massive e-commerce platforms, too. Its providers now additionally cowl warehousing and achievement, middle-mile logistics and on-line distribution.

Traders in SiCepat’s Collection B embody Falcon Home Companions; Kejora Capital; DEG (the German Growth Finance Establishment); Telkom Indonesia’s funding arm MDI Ventures; Indies Capital; Temasek Holdings subsidiary Pavilion Capital; Tri Hill; and Daiwa Securities. The corporate’s final funding announcement was a $50 million Collection A in April 2019.

In a press assertion, The Kim Hai, founder and chief government officer of SiCepat’s dad or mum firm Onstar Categorical, stated the funding can be used to “additional fortify SiCepat’s place because the main end-to-end logistics service supplier within the Indonesian market and doubtlessly to discover growth to different markets in Southeast Asia.” SiCepat claims to be worthwhile already and that it was in a position to fulfill greater than 1.4 million packages per day in 2020.

The logistics business in Indonesia is extremely fragmented, which implies larger prices for companies. On the identical time, demand for deliveries is rising because of the expansion of e-commerce, particularly in the course of the COVID-19 pandemic.

SiCepat is considered one of a number of Indonesian startups which have raised funding lately to make the provision chain and logistics infrastructure extra environment friendly. For instance, earlier this week, provide chain SaaS supplier Advotics introduced a $2.75 million spherical. Different notable startups within the house embody Kargo, based by a former Uber Asia government, and Waresix.

SiCepat focuses specifically on e-commerce and social commerce, or individuals who promote items by means of their social media networks. In assertion, Kejora Capital managing accomplice Sebastian Togelang, stated the Indonesian e-commerce market is anticipated to develop at five-year compounded annual development charge of 21%, reaching $82 billion by 2025.

“We imagine SiCepat is ideally positioned to serve prospects from e-commerce giants to rebellion social commerce gamers which contribute an estimated 25% to the entire digital commerce economic system,” he added.

Source link