Logistics startup Logisly gets seed funding from SeedPlus, Convergence, Genesia

Logisly, a platform connecting shippers and logistics service providers in Indonesia, has raised an undisclosed amount of funding in a seed round led by Singapore’s SeedPlus, Indonesia’s Convergence Ventures, and Japan’s Genesia Ventures.

Photo credit: Pxhere

Logisly aims to address the high cost of logistics and improve supply chain management in Indonesia. It provides shippers with verified truck options, with features like real-time tracking and digital proof of delivery. For trucking companies, the platform serves as a facility to move idle or vacant trucks and receive quick payments.

The startup plans to use the fresh funds to drive its growth in the country. According to a report, Indonesia’s logistics market is expected to grow at a compound annual growth rate of 13% to 15% from 2018 to 2024.

“As the populations of Indonesia and the greater Southeast Asia region continue to grow and spend, we believe that there are not only opportunities for growth, but also significant efficiency gains to be reaped in the logistics sector,” said SeedPlus partner Tiang Lim Foo.

Other Indonesian companies poised to take a share of the growing market include local players Ritase, Triplogic, Waresix, and Singapore-based Ezyhaul, which recently announced plans to expand into the country.