SoftBank-backed logistics firm gets $50m in series B+ raise

Waresix, an Indonesia-based logistics startup, has raised US$50 million in a series B+ round joined by Tiger Global, Temasek, and East Ventures, reported DailySocial citing regulatory documents.

This bumps up the firm’s valuation to US$420 million. The firm previously raised US$100 million in its series B round in 2020.

Waresix offers transport and warehouse services with merged data analytics, and it also has solutions for cold storage and general cargo handling. The company says that it covers 229 cities with almost 54,000 trucks and 431 warehouses.

Andree Susanto and Edwin Wibowo founded Waresix in 2017. It acquired freight and trucking firm Trukita for an undisclosed amount in 2020.

See also: Mapping public tech companies in Indonesia