Indonesian logistics startup Waresix scores 15x growth in past year

Waresix, an Indonesian end-to-end logistics tech startup, announced that it has grown 15 times compared to the previous year. The company claims to handle over 100,000 metric tons equivalent of monthly transactions and is growing by 25% month-on-month.

“With the current rate at which our business is growing, we are projecting to be profitable soon,” says co-founder and CEO Andree Susanto. “However, we [have decided] to reinvest into building a stronger team, infrastructure, and product.”

Waresix co-founder and CEO Andree Susanto / Photo credit: Waresix

Waresix positions itself as a one-of-a-kind provider of a “holistic” approach to logistics, involving a wide range of elements that includes transport infrastructure, cargo, consolidation, warehousing, and more. It runs a curated platform that connects individuals and businesses to warehouse operators, ground, and maritime transport providers.

The company uses a multimodal transport model – combining different types of transport methods to reach remote, inter-island areas – and claims to be the only player in the industry to offer an end-to-end freight solution. Customers also have flexibility in their freight movements, making distribution more efficient when they use Waresix’s warehouses for consolidation or deconsolidation.

“Logistics in Indonesia has been misunderstood by many if you look at it outside-in. Indonesia is not one big piece of homogenous land, unlike India or China, hence it is a hyperlocal-fragmented-multimodal transport play,” observes Willson Cuaca, managing partner at venture capital firm East Ventures.

East Ventures co-led Waresix’s US$1.6 million pre-series A funding last October, along with Monk’s Hill Ventures.

A similar player in logistics tech is Janio, which is an asset-light, “pure technology” play focusing on cross-border logistics in Southeast Asia.